When your company is undergoing change, you already face plenty of challenges. One issue that might not make it to your short list of priorities is actually crucial: the need to maintain employee engagement. Organizational change efforts have a startling failure rate of 70 percent, and one major reason for this failure is that executives don’t do what it takes to get buy-in from their employees. An Aon Hewitt study found that the number of actively disengaged employees rose by more than 50 percent during situations where job duties were impacted by their company being acquired.→ Read More
Halloween goblins might be scary, but it’s flesh-and-blood people that can really keep you up at night. People are the engine that drives your company’s profits, and if you’re not recognizing employees effectively, the financial fallout can be a real-life nightmare. Look through the unsettling stats below and take them to heart, if you want to keep the horror tales at the haunted house and not in your HR office.
- Just Being a Good Manager Isn’t Enough
To retain your most talented workers, the stats say you have to do more than just be considerate and reasonable.→ Read More
My grandparents lived and worked in a different world than we do today. And as a 36-year-old, my Millennial friends (now 20-37) and I cannot even fathom what the workplace and the employer/employee relationship used to look like – before smartphones and leggings, and when “because I said so” was an acceptable answer to a staff member’s question.
A Shift in the Workforce
As we look at today’s new workforce, a major difference is that many Gen X workers (now 38-53) who entered the workplace 15-25 years ago were good at working independently, figuring out how to get things done by themselves, and meeting their Baby Boomer bosses’ (now 54-72) expectations.→ Read More
When you hire a new employee, that person is already looking for a new job and at risk of quitting. That rather dire warning is offered by Dan Schawbel, research director at Future Workplace and one of Forbes’ “30 under 30” list. Schawbel cites a study by his company showing that one-third of American workers are at the risk of quitting and looking to change their jobs within the next six months. Employee turnover, he points out, “costs companies a fortune,” and the numbers agree: Losing an employee in the first year of their tenure can cost your company up to three times the person’s annual salary.→ Read More
Create employee handbooks ✓
Track employee hours ✓
Draft contracts for new employees ✓
Manage company benefits ✓
Handle employee complaints ✓
The list goes on and on. Across many industries, the role of HR has traditionally focused on endless paperwork and organizational policy development.
However, in today’s technologically-enhanced workforce, the traditional role of HR is swiftly shifting. Many organizations have undergone significant changes in light of new employment regulations and more diverse, younger employees who demand modern HR departments.→ Read More
Knowing what makes employees quit — and then heading off those problems — is the goal of every HR department. While you’ll never be able to avoid individual events that disrupt the lives of workers and their families, it’s helpful to have an overview of preventable causes for employee churn. People leave jobs for several classic reasons, according to Harvard Business Review, all of which are somewhat predictable. The key is to understand each reason well enough to defuse it with a proactive intervention.→ Read More
Employee turnover is one of the most bottom line busting costs associated with a company’s workforce. SHRM estimates that, for entry-level employees, the cost to fill an open position hovers near $4,000. Using this insight, if your company loses 100 employees a year, your company experiences a loss of at least $400,000.
While this number is certainly frightening, the good news is that turnover is an easily avoidable problem and with the right tools, your company can ensure that top talent is not leaving your company.→ Read More
When businesses need to balance the books, they tend to cut corners in areas where they find it difficult to prove a return on investment. For this reason, employee development is often an aspect that gets hit – if not by outright budget cuts, then by general neglect and a lack of increased investment.
What’s the biggest problem when it comes to employee turnover? No one owns retention!
At many companies, when turnover rises executives point to HR to fix it – whose plate is already overflowing with terminations, payroll, benefits management, and back-fill recruiting. HR then blames bad managers for running off good people, and the managers push back complaining that executives do not give them enough time or training to manage their people properly. They all have a point, but this blame game is costing those organizations tons of money!→ Read More
It’s not uncommon for both individual contributors and entire companies to sometimes feel stuck in a work rut. Even for business owners such as myself, there are still down days or perhaps even down weeks in which inspiration is tough to come by.
I’ve been running Proven, a small job board, for seven years; the longest I’ve worked for any one company or on any specific project. Even though I love my job, there’s certainly times when things have felt bleak or I have felt less enthusiastic about my work.→ Read More
The cost of employee turnover is outrageously high. When a company loses a salaried employee, it can cost anywhere from six to nine months’ worth of the departed employee’s salary to hire a replacement. This means that if an employee is being paid $40,000 a year, the cost of everything from recruiting to training expenses will be around $20,000 to $30,000. In addition to costing your company a fortune, it can discourage talented employees from joining your organization. High turnover is one of the major red flags job seekers look for when considering a new employment opportunity.→ Read More
When I entered the workforce in 1997, I wanted to find an employer that would offer me a long and fruitful career; a goal I shared with the Baby Boomer generation before me.
While this has been the experience of my wife, who has enjoyed 17+ years of employment with the company that recruited her out of college, I’ve worked for six companies in the almost 20 years since I graduated. One of the biggest things I’ve noticed? The social contract between employer and employee has changed.→ Read More
Look up from your computer and take stock of the colleagues working around you, they might not be at their desks much longer A recent Gallup study reports that approximately 51% of them [U.S. workers] are either actively looking for a new job or keeping an eye out for openings.
Some say it’s a people or a hiring problem, others chalk it up to the natural employee lifecycle. However, this career transience can be more properly understood as a consequence of poor company culture.→ Read More
Recently, there have been some eye-opening reports about the state of employee engagement, both here in the U.S. and globally. Aon Hewitt, in their 2017 Trends in Global Employee Engagement Study, found that engagement levels have dropped for the first time in five years and Gallup reported in its State of the American Workplace report that a full 70% of U.S. workers are not engaged at work.
But before we all get too breathless about these admittedly disconcerting engagement numbers, it’s important to remember that employee engagement is not an end in and of itself.→ Read More
Change is practically a given in today’s competitive work environment. But how is an individual employee supposed to thrive in an environment of constant uncertainty? To successfully navigate this near-constant change, research suggests that it’s critical to stay engaged.
In the first post of this 3-part series (click here if you missed it), I shared strategies from my book The Successful Struggle, that help you stay engaged and in tune with the purpose of corporate change.
In addition to connecting with the reasons behind the change, there are other things you can connect with that make corporate evolution easier to swallow.→ Read More
Are you one of those bosses who feels their employees should simply be happy to have a job at all? Unfortunately, some supervisors really do feel this way, particularly when the job market is tight. However, it’s an expensive point of view to maintain, especially in an economy that is nearing full employment: Discouraged employees are 87 percent more likely to quit, and you’ll spend a minimum of 21 percent of an employee’s annual salary on a replacement. To avoid this unnecessary expense, follow these five simple tips on keeping employee morale high:
1.→ Read More
“We’re trying to build a culture of recognition.” We hear this all the time at Achievers. The thinking is, if people recognize each other for great work, their behaviors shift towards actions that drive value for the business. And that makes sense – what gets recognized gets repeated. Where companies tend to struggle is with adoption, consistency, and tracking and measuring ROI. But for the sake of this post, I’m going to focus on consistency, and on the importance of making recognition a habit through the use of a powerful psychological tool – triggers.→ Read More
Employee retention is a key goal for every company, but it’s important to drill down into this metric and make sure you’re doing a good job of identifying and keeping your top performers. These employees deliver 400 percent more productivity than the average worker, according to statistics published in Harvard Business Review (HBR). The researchers state, “Our workforce strategy goal should be to double down on retention tactics for high performers,” and further explain that, in many cases, managers aren’t meeting the needs of their top talent.→ Read More
Many of the emerging HR trends for 2017 are being driven by the millennial generation. Now representing the largest portion of the workforce, millennials value different things when it comes to their careers. What they want and what they look for — things like being recognized and making an immediate impact — have created a strong demand for employee engagement and recognition platforms that many leading companies are now adopting.
Employee recognition software linked to a corporation’s values can help incentivize employees while aligning performance with personal goals and values. → Read More
Change is a funny thing, isn’t it? We frequently resist it, yet progress is impossible without it. In fact, we can’t really move through life without it. The desired approach for most of us is to experience change in small, bite-size chunks. Otherwise, it can wreak havoc on us when there’s too much at once and we’re not prepared for it.
As HR and OD professionals and people leaders, how can we help employees with the process of change? How can we best position ourselves to lead and at the same time guide employees to think more rationally about change?→ Read More
When change sweeps through an organization, it often causes confusion, frustration, and fear. Even when dressed up with fancy words like “transformation” and “innovation,” employees know the end result is one thing: change.
One reason corporate change is uncomfortable is that it requires disconnecting. All change is, in disregard, disconnecting. Change forces us to let go of our old ways of being and our old measures of success.
How fast time flies! Can you believe it’s already 2017? Every time a new year rolls around, I like to reflect on the previous year. For Achievers and the Engage Blog, 2016 was extremely eventful. For starters, Achievers’ Customer Experience (ACE) 2016 was a huge hit, with amazing keynote speakers, including famous journalist Joan Lunden and CNN commentator Mel Robbins. From the 50 Most Engaged Workplaces Awards Gala to a stellar lineup of speaking sessions, ACE 2016 brought together a Who’s Who of top performers and thought leaders in the HR and employee engagement space.→ Read More
A business isn’t anything without its employees. So in order for your business to be successful in the long term, you have to ensure your employees are consistently performing at their best. How do you do that? By focusing on employee engagement. According to Gallup, “Companies with engaged employees outperform those without by 202 percent.”
But how can you move the needle on employee engagement? One of the best and most effective ways is through employee recognition programs. In fact, according to a survey conducted by Achievers, 44% of employees cited lack of recognition and engagement at their current employer as their reason to switch jobs in 2018, and 69% stated recognition and reward as a motivating factor to stay. → Read More
Studies on turnover estimate that every time a business replaces a salaried employee, it costs 6 to 9 months’ salary on average. For an employee making $40,000 a year, that’s $20,000 to $30,000 in recruiting and training expenses. Providing a competitive compensation and benefits package is important, but in today’s market, retention also requires making new hires feel engaged, aligned and connected from Day 1.
With this in mind, we offer three quick tips to think about when bringing people onboard your organization.→ Read More
The question of how to measure employee performance represents one of the last vestiges of old-school HR methodology. Today’s workforce is digitally transformed, highly social and mobile, made up of multiple generations, and collaborating across virtual and global locations. There has been a profound shift in the workforce away from hierarchical, top-down organizations towards teams and collaboration, where having a culture of recognition can drive engagement and results far more effectively than infrequent reviews handed down from on high by management.→ Read More
Do your employees feel recognized? Think carefully, because over 65 percent of employees report they don’t feel recognized at work. And lack of recognition just happens to be the number one reason why employees quit. Employee recognition drives employee engagement, and with higher employee engagement come lower turnover rates and stronger business results. Engaged employees perform 20 percent better and are 87 percent less likely to leave their organizations than their disengaged colleagues. Also, companies with the most engaged employees report revenue growth at a rate 2.5X greater than their competitors with the lowest level of engagement.→ Read More
We’re way beyond the old paradigm of years-of-service plaques or holiday gift cards as a form of employee recognition. We know that such rewards, tied to tenure or sporadically bestowed on an individual employee for a job well done, fall short of achieving any larger goal. For employees, they do little to spur a sense of being truly valued by an organization. For the organization, they don’t spark the levels of engagement that we know drive performance and lead to desired business outcomes.→ Read More
Employees are arguably the most important component of a successful business. Employees put a human face on the product, build relationships with customers, and define the work culture that feeds business performance – yet 32% of companies struggle to retain top talent. What defines an effective retention strategy varies from business to business, but there is one common element that has been found to work across most business types and sectors: employee recognition. In fact, a recent Achievers’ study found that employees have a deep desire for recognition, with 93% hoping to be recognized at least once a quarter.→ Read More
Are your employees reaching their full potential at work? According to a Middlesex University study cited in a recent Sh!ft infographic, of almost 4,300 workers polled, a whopping 74% felt that they weren’t achieving their full potential at work. So how does a business engage its employees to make them feel empowered and more productive? One answer is by providing the right learning and development opportunities.
But how do you determine which learning and development opportunities are right for your employees?→ Read More
Every manager and HR professional views employee turnover as a headache, but do you actually know how expensive and damaging it can be to your organization? Here’s a look at the dimensions of this complex problem and some tested managerial practices to alleviate it with long-term solutions.
The dimensions of the problem
Current statistics from Catalyst show that it costs an average of one-fifth of an employee’s salary to replace that person, which means that for a position paying $50,000 a year, your replacement costs will generally run over $10,000.→ Read More
Most of your company’s expenses are unavoidable, but employee attrition is one of the costs that you can have significant control over. Employee attrition can cost six to nine months’ worth of the departing worker’s salary, so it’s in your best interests to find ways to address employee attrition head-on. Of course it’s necessary to create a culture in your organization that makes people want to stay — but it’s equally important to be able to recognize which employee is planning to quit next.→ Read More
Skeletons in closets, magic disappearing acts, and people masquerading as someone else: Is Halloween coming or is it just the normal everyday stuff of HR nightmares? This year, avoid spooky business in the office by brushing up on these important HR trends.
#1: Unsuccessful New Hires Haunting Your Halls
A recent survey by Leadership IQ reported that, “46 percent of newly hired employees will fail within 18 months.” Forty-six percent! And it isn’t that you read their resumes wrong or they falsified their background and experience — it’s that those new hires simply are not a good fit for your company.→ Read More
Life would be simple if hiring the best people were only a matter of offering competitive pay. Incentive Magazine revealed employee benefits are more valuable than ever – according to MetLife’s 10th annual study of employee benefits trends, there is a strong relationship between satisfaction with benefits and overall job satisfaction. In today’s tight talent market, employers have to claim a unique position for their brand if they want to snag the top-tier candidates. Here are five compelling perks your business can use to make all your job openings magnetic.→ Read More
Bad managers cost businesses billions of dollars each year. According to Gallup, managers account for at least 70% of variance in employee engagement scores across business units. Gallup also discovered that great managers tend to share the following traits: motivational, assertive, accountable, transparent, and makes decisions based on productivity, not politics. As a manager, your success depends on both your and other people’s efforts. To get the optimal performance from your team members and be the best manager you can be, follow these 7 tips:
1.→ Read More
According to a recent article in The Huffington Post, 3 out of 4 employees report that their manager is the worst and most stressful part of their job, and 50% of employees who don’t feel valued by their boss plan to look for another job in the next year. Don’t lose top talent because of poor management. We’ve compiled the top 10 things that leadership should never do if they want to keep their employees happy and engaged in the workplace.→ Read More
Staff turnover can be costly for your business and hurt employee engagement. Use these techniques to determine the causes of attrition.
Losing employees can cause problems with morale, engagement, and productivity. Learn why employees quit and what signs you should look for.
Millennial employees might be known for job hopping, but there’s still a lot you can do to retain them.
When employees leave your organization, you have an important opportunity to gain insight about what’s working and what’s not. Make sure you ask the right exit interview questions.
Millennial employees are more likely than other generations to leave jobs after a short tenure. Make sure your team is prepared to withstand turnover.
As a manager, you’re aware that it’s important to give employees everyday recognition, praise, and feedback. You’ll do a better job of effectively delivering this recognition, however, if you understand the reasons behind it. Here are three primary effects you’ll experience from building employee recognition into your daily workplace culture:
- Better morale: Acknowledging the hard work and dedication that employees invest in your company is a good way to give them “a sense of ownership and belonging,” according to HR Council.
The workforce is changing rapidly, and many companies are struggling to update their talent management process to keep pace with new workplace cultures. Companies that can’t keep up with the expectations of today’s employees will see a decline in engagement — and a corresponding decrease in their bottom line.
A 2015 report by the Society for Human Resources Management (SHRM) gives a look into current levels of staff engagement. According to the report, only 39 percent of respondents are “very satisfied” with their job, indicating that there is a lot of work ahead for managers in the upcoming year.→ Read More
When employees have done great work, they expect some form of acknowledgment. In a competitive marketplace where your top talent always has their eye on the next stepping stone in their career, your organization must win employee loyalty through tangible appreciation. Budgetary constraints can be relentless, however, and often prevent appreciative managers from offering a raise. If you find yourself seeking creative ways to increase employee retention and reward exceptional worker effort, here are a few useful points to keep in mind.→ Read More
There’s nothing worse than sitting in traffic or squeezing onto a crowded subway. But for many workers, it’s the way they both start and end their day. When we think about the issues that most affect employee happiness and turnover, we often overlook a major factor that actually takes place outside the office: the quality and length of an employee’s commute.
Are you one of the 64 percent of managers who expect their employees to be continually available by email and phone? This figure comes from a recent survey by Workplace Trends, and the ramifications of blurring the boundaries between personal time and work time are concerning. Too often, both employers and employees assume that true dedication means they’re never off the clock – in reality, this inability to leave work behind yields only inefficiency and emotional burnout. Forward-thinking employers support (and even pay) their staff to disconnect completely when they’re not at work.→ Read More
by Andrea Vearncombe, Total Rewards Manager, Achievers
Why do your employees show up at work every morning? If you think it’s just to earn a paycheck, then you’re overlooking something essential about human motivation. Most people agree that fair compensation is a requirement for employee engagement and job satisfaction, but it only meets the bare minimum.
Research studies published in Harvard Business Review demonstrate that the overlap between pay level and job satisfaction is actually less than two percent. Of course salaries have to be competitive if you want to attract and retain employees in the first place, but once people are able to meet their basic lifestyle needs, their happiness and engagement are actually driven by non-financial factors.→ Read More
People are often told that they should find a job they love. Unfortunately, circumstances don’t always allow the luxury of waiting for that one dream position. And some people think they’ve found their dream job, only to find that things start to go sour. There are a lot of reasons this can happen: a bad boss, a toxic team, stagnant career growth, or lack of recognition.
Losing your employees to resignation is an expensive problem. The better you can retain your employees, the better you’ll be able to save money, and more importantly, save the knowledge and talent your employees bring to the table.→ Read More
Appreciating employees is an everyday thing here at Achievers, so in honor of Employee Appreciation Week 2015, we thought we’d share some of our favorite links on innovation to inspire recognition—and innovation—today!
- How Adobe kickstarts innovation from its employees – Fortune
- How the Post-it note could become the latest innovation technology – Fast Company
- IDEO: Big innovation lives right on the edge of ridiculous ideas – 99U
- How to create a culture of innovation – Fast Company
How are you recognizing your colleagues for Employee Appreciation Week?→ Read More
Guest post by Jeff Waldman, Founder & Social HR Strategist of Stratify and SocialHRCamp
Talent pool, talent network or talent community—semantics shemantics. We in the HR industry appear to be having some difficulties wrapping our heads around all of this. For starters, we can’t seem to agree on the definitions for each of these terms, let alone understand what the core purposes of each are. The so-called ‘industry influencers’ are struggling with this as well. If the thought-leaders and influencers are struggling, how can the industry at large have a clear understanding?→ Read More
When it comes to transparency in the workplace, a lot has changed. Ten years ago, you could find more information about the latest iPod online than you could about your own workplace. Today, social media sites like Glassdoor are helping people find jobs and companies they love through peer reviews and ratings, which makes HR professionals have to think more like marketers when it comes to recruiting and retention.→ Read More