HR PRACTICE,EMPLOYEE ENGAGEMENT
Eden | August 08, 2022
Eden, the all-in-one people operations platform for employee-centric companies, today announced the launch of its People Success suite of tools with its new Performance Management product. The launch marks the expansion of Eden's product suite beyond hybrid workplace tools, enabling Eden to be the first software vendor that helps companies manage both their workforce and workplace.
With 40% of workers disengaging when they receive little to no feedback, performance management is a critical process for any high performance organization. Consistent feedback and reflection help employees hone in on their strengths, understand their areas for growth, improve at their current role, and create a compelling vision for their careers. Companies that have continuous performance processes are 44% better at retaining talent, but managing the performance review process is one of the most challenging and time-consuming parts of the job for HR teams. Eden's Performance Management product makes these feedback cycles simple and easy for everyone involved – from people teams and managers to employees.
"Providing opportunities for structured personal and professional growth is critical to the success of any high-performance organization, Eden's Performance Management product enables modern companies to empower their team members' growth through feedback and self-reflection, unlocking the potential of people and organizations."
-Joe Du Bey, co-founder and CEO of Eden
Eden's Performance Management solution will simplify the feedback cycles and processes for all stakeholders involved, including:
HR and people teams, who can set up new review cycles through Eden's Performance Management product, customize questions and processes, view employee analytics, and maintain historical performance data to analyze trends across the organization.
Managers, who can leverage the solution to assign peer reviews to employees at all levels and monitor team performance.
Employees, who are able to use Eden's solution to complete their self-assessments, view their feedback, goals and areas of improvement, and provide feedback to their peers.
Whether it's creating and distributing performance reviews, effectively measuring employees' progress against their individual goals, or arming managers with the tools they need to improve their employees' performance, Eden's Performance Management software ensures that companies have the right technology in place to prioritize their people and scale their HR processes.
The future of work is employee-centric, In order to achieve high performance, organizations need to prioritize and care for their employees and provide them with the tools and opportunities they need to succeed at their current jobs and broader careers. Eden's Performance Management product will help high-growth companies be exceptional places to work,said Du Bey.
Performance Management is the first product in Eden's People Success suite of software. In addition to its new People Success suite, Eden offers a Flexible Office suite of tools, which includes Desk Booking, Visitor Management, Room Scheduling, COVID Team Safety, and Internal Ticketing and Deliveries.
Eden is the all-in-one people operations platform that helps your team work wonders. With its People Success suite, Eden makes it easier for your team to conduct performance management in an employee-centric way. With its Flexible Office suite, Eden ensures your company can run a high-performance hybrid workplace with tools that include desk booking, conference room scheduling, visitor management, deliveries notifications, and more. Eden is based in San Francisco and New York, and investors include Y Combinator Continuity, Bessemer Venture Partners, Fifth Wall, S28 Capital, JLL, ENIAC, SV Angel, and more. Eden's mission is to create a better place to work, for everyone.
TALENT MANAGEMENT,EMPLOYEE BENEFITS
WorkFaith | August 03, 2022
WorkFaith announced WorkFaith Now, a new online learning platform for job seekers and employees. WorkFaith Now offers self-paced job readiness and career development courses at no cost to both individuals looking for work and staffing agencies who want to upskill their clients.
"WorkFaith Now is a transformative digital platform that gives 24/7 access to faith-based training and coaching opportunities. No longer is time or transportation a barrier for those who need immediate access to critical job resources, When you access WorkFaith Now, you can expect to receive essential job training skills that have helped thousands of individuals obtain employment over the years. WorkFaith is an industry leader in workforce development, and has a vetted process that caters to individuals looking for long-term employment."
-Nick Hardy, Chief Program Officer at WorkFaith
Features of WorkFaith Now include:
24/7 access from a smart device
Engaging on-demand content
No cost to the user
WorkFaith Now will be available starting August 1.
WorkFaith is a organization that provides faith-based training and coaching for anyone who desires long-term employment. WorkFaith has helped thousands of people find work and achieve long-term success for over 16 years.
Paychex | August 01, 2022
New research from Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, explores the challenge of employee retention and the key drivers motivating employees when making choices about their career paths. With 4.3 million people quitting their jobs as recently as May 2022, the survey of more than 600 U.S. workers provides insight employers can use when developing strategies for increasing retention.
The study—which was conducted in partnership with Future Workplace, an Executive Networks member company—revealed a gap between the employer perceptions and employee sentiments related to retention. When asked about factors (other than compensation and benefits) that contribute to their decisions to stay in with their company, 30% of respondents indicated that perceived job stability is their most important motivator and 60% ranked it in their top three. Feeling that the work was meaningful (45%) and having a passion for their field (33%) were the second- and third-most-popular answers, respectively. Reasons related to employers' brands (19%), corporate culture (19%), and products (13%) are the least important to employees, despite many companies' focus on these elements in their recruiting and retention efforts.
"Research shows that almost half of employees say they do not want to change companies within the next 12 months, but that is never a guarantee that those employees will stick around long-term, The Great Resignation may be slowing, but that doesn't mean companies can take a passive approach. Rather, they should use this opportunity to offer programs, perks, and benefits that meet employees' diverse needs."
-Alison Stevens, director of HR Services at Paychex.
Generation Influences Why Employees Work at Their Companies
While job stability and performing meaningful work ranked among the top two reasons respondents stayed at their companies, Baby Boomers (32%), Gen X (35%), and Millennials (31%) were significantly more likely to cite job stability as the most important reason than Gen Z (14%). Instead, Gen Z (18%) prioritizes meaningful work over job stability.
In addition, Baby Boomers (41%) said that passion for their field and industry are among the most important reasons to work at their company. Gen X (30%) focused on close relationships with coworkers, and Millennials (39%) cited opportunities for career growth. Gen Z (27%) said company growth and success were especially important to them.
Flexibility Reigns as Top Priority for Employee Retention
When asked what would make employees more likely to stay in their roles, respondents noted a desire for more flexible scheduling. Over one-third (35%) of all respondents ranked flexibility in work hours and schedule as the number one reason they'd be more likely to stay at their organization long-term, and 70% ranked it among their top three. It was significantly more likely for Baby Boomers (46%) to say that flexibility would make them more likely to stay at their organizations long-term than Gen X (38%), Millennials (31%), and Gen Z (24%).
Opportunities for career advancement, skills development, and internal job mobility, and increased commitment to work/life balance ranked second and third overall with 50% of employees putting each in their top three most-desired perks. A promise of better work/life balance was particularly compelling to financial services workers (29%) compared to those in leisure/hospitality (10%), manufacturing (11%), education/health services (14%), retail/trade/transportation/utilities (13%), and other professions (11%).
Keeping Employees Long-Term
Health insurance (64%) and retirement plans (62%) are the top two benefits shown to keep employees long-term. However, the research shows that the importance of mental health benefits is on the rise among younger generations. Gen Z (23%) is significantly more likely to say that mental health benefits would make them more likely to stay at their organization long-term than Millennials (14%), Gen X (5%), or Baby Boomers (3%).
Financial wellness benefits (41%), such as tuition reimbursement, professional development stipends, student loan repayment, and child-care support, ranked third among benefits most important for employee retention.
"Perhaps the most compelling takeaway from this study is the confluence of factors that affect employees' decisions to say with a company, Each employee presents a different intersection of the demographics outlined in the study, and the only way to really know what will keep them in their position for the long haul is to ask. Even so, employers rarely do it. We found that only 29% of employees have had what we call a 'stay interview.' These open conversations with employees can give HR staff insights into the unique values of their employee populations to increase retention, even in a difficult labor market."
-Jeanne Meister, the founder of Future Workplace and executive vice president at Executive Networks.
About the Research:
The research findings are based on a survey conducted across the United States between May 4, 2022, and May 11, 2022. For this survey, 604 full and part-time employees at small to mid-size businesses (20-500 employees) were asked general questions to understand employees' thoughts around retention. The study targeted employees who are between the ages of 18 years to 75 years old. This is a survey in a series of research reports administered by Future Workplace that will focus on the employee point of view and pinpoint top concerns, priorities, and trends facing the modern workforce.
Paychex, Inc. (Nasdaq:PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees.