You want your employees to be engaged in what they’re doing, so the first step is making sure they’re not overwhelmed with outside commitments. Silicon Valley CEO Raj Narajanaswamy makes a strong case for how fostering a healthy work-life balance throughout your company will contribute to better financial outcomes. He points out that work-related stress routinely costs American businesses $200 to $300 billion annually — and that doesn’t even begin to address the less quantifiable ways in which anxious workers erode your company culture.→ Read More
Thirty-three percent. It’s a fairly low number. We wouldn’t want to see that number for our customer satisfaction or client retention rates. But that’s the number of American workers who report being engaged at work. And if a figure that low isn’t acceptable when it comes to our clients, it shouldn’t be acceptable when it comes to employees either. Low engagement leads to poor performance, dissatisfaction, and higher turnover. But there are ways to combat this disengagement. Employment engagement contests help keep people motivated and gives everyone a common goal beyond just doing well at work.→ Read More
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
If you’re a supervisor or manager, you probably know how much more productive your team is when you make the effort to recognize each person’s contribution. In order to take employee recognition to the next level, however, and establish a company-wide system of rewards, you’ll need to be able to present the investment to your CEO or CFO in terms of the financial bottom line.
Fortunately, a growing body of research makes this easy. A Workplace Trends Report finds that recognition programs yield 50 percent higher sales, 27 percent higher profits and 21 percent better retention.→ Read More
Are you currently using recognition to boost employee engagement across your organization? You should. Scotiabank, a leading financial services provider, is already ahead of the curve and finding innovative ways to spread employee recognition across 90,000 employees globally. Before diving straight into Scotiabank’s recognition success, let’s get to know the company a bit. Scotiabank was founded in 1832 in Halifax, Nova Scotia. With close to 90,000 employees around the world and over 23 million customers, Scotiabank is a leader in financial services in North America, Latin America, the Caribbean and Central America, and Asia-Pacific.→ Read More
Paid Time Off (PTO) Is More Than a Privilege
Hard work and determination are as American as Jersey Shore reunions and bacon-topped desserts. And to make ends meet in our highly competitive, ultra-consumerist society, U.S. employees often find themselves putting in long hours, taking fewer lunch breaks, and even getting side-gigs to keep pace. Well, worth it or not, thou who burneth the candle at both ends burneth out entirely. That begs the question, is all the tenacity balanced with sufficient PTO and the ability to stay home when you’re sick?→ Read More
Ever since people started working for each other, supervisors have tried to figure out the best way to reach their performance goals and keep workers on task. Too often in human history, this meant that people with less power were simply compelled to work, and incentives — if they existed — consisted merely of being allowed to survive. After several evolutionary waves, we have a deeper insight into what truly motivates people, and today’s incentives are about far more than compensation.→ Read More
On the inside, you’re full of warm-hearted gratitude for the loyalty of employees who stick around for the long haul. The question to ask yourself is whether your team knows how much you appreciate their efforts. They can’t read your mind, so celebrating employee milestones and work anniversaries is a way to showcase your positive energy and spread it around. It’s also a way to strengthen your company’s financial position, because a stronger work culture leads directly to stronger employee engagement.→ Read More
You likely know that people don’t perform as well when they’re feeling disengaged or distracted, but you may not realize how pervasive a problem this is in today’s workplace. How happy are your employees? Is employee happiness at a low or a high? The latest Gallup poll (collected from over 80,000 workers) on employee engagement tells a dismal story. In 2015, only 32 percent of workers say they’re “engaged” at their jobs. Over 50 percent say they’re “not engaged,” while another 17 percent state that they are “actively disengaged.” Furthermore, this data has shown no significant change since Gallup first started this annual poll in 2000, so the problem is persistent.→ Read More
It’s no secret that an engaged employee is a productive employee, but fostering and maintaining that initial focus and enthusiasm is no easy task. Employee engagement relies on sparking an emotional investment in the company and creating an atmosphere in which everyone is motivated to work toward common goals. Considering only 29 percent of workers say they’re actively engaged at work, this is an issue most businesses contend with on a daily basis. Digital technology has rewritten the rules for both business and personal interactions.→ Read More
How do you effectively engage over 10,000 employees? This was the challenge presented to Smart & Final, a major chain of warehouse-style food and supply stores. Smart & Final has over 10,000 employees and approximately 211 stores in 5 states. Their previous employee recognition strategy consisted of a ubiquitously disliked service awards program that was perceived by employees as being impersonal and demotivating. This type of employee experience was unacceptable and something had to be done about it. The Smart & Final team took on the huge task of overhauling their employee recognition strategy and finding a new way to boost employee engagement across the entire organization.→ Read More
Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ) is strengthening employee engagement. Are you?
In a recent Gallup survey, they found that only 1 out of 3 U.S. workers feel they received adequate recognition in the past seven days. Even worse, employees that aren’t recognized at a satisfactory level are twice as likely to leave their job compared to those that are. Why should you care? Because 70% of workers say they’d work harder if they felt their efforts were better appreciated and companies with the most engaged employees report revenue growth at a rate of 2.5X greater than their competitors with the lowest levels of engagement.→ Read More
Achievers is honored to be listed as #1 out of 13 ranked vendors in both the Overall Excellence category and Breadth of Service category in the HRO Today’s Baker’s Dozen Survey. Read the press release here.
Employee recognition is a very important part of company culture. So much so, more and more HR Tech is dedicated to making employee recognition easy for both employees and managers. And it can address important business objectives relating to employee engagement, like attracting top talent and increasing productivity.→ Read More
If you were asked about your top priorities as a manager, how would you answer? Increasing productivity would probably be first on your list, along with steady company growth, low employee turnover, seamless teamwork, and high employee engagement — after all, most businesses share similar goals.
However, you might not have considered developing an excellent company culture among your top-tier priorities, even though it is the foundation for every one of your key goals. When focusing on creating an amazing company culture, you will discover that other elements of business success fall into place organically.→ Read More
All businesses are comprised of a variety of capital, with human capital being the most critical to sustainability and success. The minds that drive innovation, the behaviors that build culture, and the personalities that forge relationships are all components of human capital. Employee Appreciation Week (or Day, Month, Year; however your organization chooses to celebrate it) provides companies with an annual occasion to be hyper-focused on their employees and express their gratitude in a public manner.
In today’s employee-centric world, where workers have many choices of where to lend their talents, it is important to reaffirm their decision to work for you.→ Read More
Before you start defining the elements of a healthy performance review process, it’s worth investigating how or where your process went wrong. Historically, performance reviews were created with the best of intentions and remained unchanged for centuries.
The idea that people are motivated by knowing where they stand within an organization gave birth to the “rank and yank” method of ranking employees into top, average, and poor performing tiers (and eliminating those at the bottom). This was popularized by Jack Welch, former CEO and Chairman of General Electric (1980-2001).→ Read More
Mindfulness by definition is, “the practice of maintaining a nonjudgmental state of heightened or complete awareness of one’s thoughts, emotions, or experiences on a moment-to-moment basis.” Seems simple enough, right?
However, achieving a state of mindfulness as defined above, while balancing the busy schedule of a working professional seems like another impossible task on the grand to-do list. According to the Global Wellness Institute, the health and wellness industry hit a record high of $3.4 trillion dollars in 2014, and that number continues to grow as more and more businesses seek to launch health and wellness initiatives of their own.→ Read More
Management strategies have been evolving, over the last two five years, to favor more bottom-up measures to drive greater workforce productivity. While many Best-in-Class companies are retaining and using labor investment resources in payroll and compensation management, many of their peripheral Human Capital Management (HCM) investments are moving away from pure labor cost quantification to favor goal-based platforms in rewards and recognition. Are you currently offering incentives, such as rewards and recognition, to your employees?
With the inherent uniqueness of the individual in the corporate workforce, it is a virtual impossibility to find a one size fits all approach to incentivizing employees.→ 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
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
“Whatever your life’s work is, do it well. A man should do his job so well that the living, the dead, and the unborn could do it no better.” — Martin Luther King, Jr.
You’re looking to expand your team. Congratulations on your company’s growth spurt! Now you want to find candidates that fit your company culture and bring the right expertise to the job. While you could just post to one of the huge job sites like Craigslist or Indeed, there are a number of other unique and creative ways to grab the attention of your future colleague, and here are a few…
Offer Rewards: Offer a financial incentive to your current employees to assist with finding their new office buddy who will go the distance.→ 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
Promoting a consistent culture of recognition is an essential component to employee engagement, but who says you can’t step up your appreciation game every once in a while? A good celebration tends to incite a positive atmosphere that is almost tangible to the touch – and the positivity is infectious. People’s smiles get a little bigger, the laughs a little louder and the residual feel-good attitude can be felt for days after. What’s not to love about that?
In the world of employee recognition, Employee Appreciation Day is the be-all and end-all of celebrations.→ Read More
According to Bersin by Deloitte, “employee engagement” refers to, “An employee’s job satisfaction, loyalty and inclination to expend discretionary effort toward organizational goals.” The more engaged employees you have, the more positive results you will see – from both a bottom line and a corporate culture standpoint. It’s as simple as that. But as Gallup recently reported, a mere 13% of employees worldwide are engaged at work! And it’s not that much better here in the U.S., where only one in three employees are engaged at work.→ Read More
As a human resources professional or manager, you’re probably all-too familiar with the job-hopping ways of highly skilled employees who feel they can pick and choose the job they want. And that’s reflected in the fact that more than half of all business owners feel that competition for talent is stronger than it’s ever been. But there are a number of ways to attract and keep top talent, and to keep them happy and engaged while they’re with you. Offering an employee recognition and rewards program has proven to be one of the most effective ways to retain highly skilled workers and to build your company’s financial strength at the same time.→ Read More
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 paradigm shift is happening in today’s workforce with the balance of power shifting from the employer to the employee. In response to this shifting playing field, employers are starting to register the power of recognition to boost engagement levels and increase productivity among their employees. But we still have a ways to go. According to a recent survey by KRC Research, workers say that an average of 50 days (nearly two months) pass between moments of recognition, while nearly 9 in 10 (87%) middle management employees feel unrecognized by their supervisors.→ 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
The goal of every recruiter is to find a candidate that perfectly fits the open position. In fact, perfectly aligning a candidate with a company is the most rewarding experience a recruiter can have. When you hire the right person your company likely will not incur costs such as time lost in further recruitment efforts or in training somebody that might not be a perfect fit. To avoid extra costs, companies large and small alike need to find better ways to identify, attract, and subsequently retain top talent.→ Read More
With the sands of 2016 close to completing their journey through the pinched middle of the proverbial hourglass, it is only natural to consider what 2017 has in store. But before the future becomes the present, learning what trends emerged in the HR space in 2016 might help inform, and better prepare us for what’s to come. Below are 5 HR trends that emerged in 2016 that we believe will become more ingrained and ubiquitous in the coming months and years:
1.→ 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
Creating an engaged workforce is critical to business success. Engaged employees positively impact retention, absenteeism, productivity, customer ratings, profitability, and many other business outcomes – as outlined by Gallup. Sadly, only 32% of U.S. employees are engaged – meaning they are “involved in, enthusiastic about and committed to their work and workplace.” And the numbers are even worse beyond our borders, with engagement standing at a mere 13% worldwide! While leading organizations are aware of the problem and are actively seeking solutions, many are not seeing a good return on their engagement investments.→ Read More
Today’s workplace is evolving rapidly. The recent focus on employee engagement has taught us plenty, including how closely tied employee engagement is to an organization’s success, and what happens in this disrupted, transformed workforce without engagement: our top talent moves on. We also know that one of the primary drivers of engagement is recognition. So where do those understandings lead? If we want to be successful in this changing landscape they lead to a workplace culture built on recognition, rewards, feedback and transparency.→ 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
It’s that time of year again, time to give thanks! And what better way to give thanks than to thank our very own employees here at Achievers. A business is nothing without its employees, which is why we encourage frequent employee appreciation. Today, we’d like to highlight some of the top employee recognitions sent across our ASPIRE platform, powered by Achievers’ HR technology. We’re proud of our employees and everything they accomplish day-to-day. Check out some of our favorite recent employee recognitions and get inspired to thank someone in your organization for a job well-done!→ Read More
Employees are a core determinant of company success, but with a staggering 68% rate of employee disengagement, it’s clear that effectively leveraging their full potential can be a precarious task. Factors that drive employee engagement vary across employees, but a crucial factor is how connected they feel to their company’s culture and values. In fact, 82% of employees believe culture is a competitive advantage, yet only 28% believe that they understand their culture well. Creating a great company culture is not an easy ‘drag and drop’ nor can it be quickly implemented to garner immediate results; it requires a thought-out strategy and the right tools to help execute.→ Read More
Keeping your employees fully engaged during the holiday season, from Thanksgiving to New Year’s Day, is challenging. Workloads can get heavier as co-workers take time off. Employees are thinking about friends and family members who are off work for the holidays. Children are out of school, complicating scheduling. Employees must work extra hours in order to meet customer demands. Managers push their employees harder to meet year-end goals, yet often fail to give them adequate recognition. With only 13% of employees engaged worldwide, it’s especially important not to lose sight of employee appreciation and recognition during the stressful holiday season.→ Read More
By: Amit Kaura
Senior Manager, Software Engineering, Achievers
How important is it to have inspirational leadership versus average leadership? The answer: Very important. According to Great Leadership, organizations with the highest quality leaders were 13 times more likely to outperform their competition in key bottom-line metrics such as financial performance, quality of products and services, employee engagement and customer satisfaction. Which is why it should be mission-critical for businesses to focus on developing inspirational leaders to improve company culture, teamwork, performance and bottom-line results.
CEOs are focusing on leadership development opportunities for their workforce more than ever to maximize business performance and encourage their employees to reach their full potential.→ 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
Dr. Donald Clifton’s book How Full Is Your Bucket revealed the number one reason people leave their jobs is because they don’t feel appreciated. But there’s a proven way to address this problem: focus on employee engagement. According to a Harvard Business Review study, 71% of respondents rank employee engagement as very important to achieving overall organizational success and recognition happens to be the #1 driver of employee engagement.
It’s clear businesses need to focus more on employee engagement and recognition strategies.→ 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
How do you handle rewards and recognition within your workforce? Has your company kept pace with current trends in HR and the widely recognized need for employee engagement programs? Most importantly, are you aware that 51% of employees are not happy at work and that, according to Gallup, fully 87% of employees worldwide are not engaged? It has been proven that engagement is crucial for business growth. Business2Community recently reported that organizations with highly engaged employees outperform those with low employee engagement by 202%.→ Read More
Millennials are the hot topic of conversation in human resources departments today. This much talked-about but little-understood new generation is coming into its own in the workforce and will soon represent more than half of all U.S. employees. As baby boomers continue to retire, companies are facing the challenge of attracting and retaining millennials to replenish their ranks. With this backdrop, understanding the kind of corporate culture millennials desire and the forces that motivate them is key. But when you dig a little deeper, you will find that many of the same forces that motivate millennials also have a broader positive impact on your entire workforce, no matter their generation or demographic.→ Read More
Employee performance reviews are often awkward and uncomfortable. Feedback, whether positive or critical, can be difficult to deliver or accept. Yet providing feedback to employees is an important way for a company’s leadership to guide the organization. Employees also want feedback; employee engagement increases when employees get more feedback, more frequently; and, they’re less likely to quit.
Tips for Managers
- Review expectations. Take a look at the feedback employees received last year, along with their self-appraisals and development plans.
- Evaluate performance.
“There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow. It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE
The recent history of work has been characterized by increasing levels of automation, greater demands on workers’ time and an overall breaking down of the walls between work and home life.→ Read More