Article | July 13, 2022
Talent retention is one of the biggest issues faced by firms that are expanding quickly. It's easy to neglect retention, soit's crucial to keep your existing workforce engaged while onboarding new ones. This is especially true of Gen Z and Millennial workers. These generations are more inclined to change jobs frequently, as the Great Resignation has brought to light. As a business grows and changes, it is also important to have younger employees who are dedicated and skilled.
When it comes to retaining millennial and Gen Z employees, here are five elements to consider emphasizing in your organization.
1 Flexible Work
Remote work, flexibility, hybrid culture aren’t just buzzwords for millennials and Gen Zers, it’s what they expect and what makes them consider staying or quitting. The business case for providing more flexibility is that it helps organizations reduce costs incurred from absenteeism, workplace accidents, and employee attrition.
2 Access to Mentorship
A CNBC study revealed that 90% of employees with assigned mentors report that they are happy at their jobs. There’s no doubt that greater employee happiness causes higher retention. Both Gen Z and millennials seek mentorship at work as it allows them to pursue their self-development goals. Since virtual mentorships are not limited by geography, more employees are able to connect with a wider range of mentors.
3 Diversity and Inclusion
Young employees value a diverse workforce, and diversity, inclusion, and equity are vital expectations to meet. It is one of the factors that help candidates choose their employers.
4 To Wrap It Up
While hiring newcomers, it's crucial for growing organizationsto retain their employees. Additionally, since they have a unique set of values and are willing to change employment, your youngest employees deserve special consideration. When engagingthese employees and ensuring the long-term success of your firm, a flexible working style,mentoring programs, and an inclusive atmosphere are essential.
Article | July 6, 2022
Employee benefits is a crucial piece of the puzzle in the big picture of employee retention and engagement. Many organizations use benefits as a way to attract top quality talent and offer recognition. Not only this, but many more organizations use it to retain employees and provide a meaningful workplace experience. This is why delivering the benefits seamlessly is critical.
There has been an exponential increase in the number of organizations adopting benefits software to optimize and automate the process. The ideal benefits software you’re using is efficient, cost-optimized, and sleek, but how do you know it’s time to upgrade. Here are three signs to identify whether it is time to consider a change.
It’s No Longer Serving Its Core Functions
Sure, when the first time you went digital, you sighed in relief at the amount of paperwork and repetitive tasks you didn’t have to do any longer. Now, as you continue using your current system, you spot gaps in the features, especially in areas that can be easily automated. If you’re wondering whether you need more automation, there’s probably a solution out there that can offer just that. As a human resource management process, this means it’s time to shop for more functionalities that address your concerns.
The User-Interface Feels Stale
Does your benefits system’s user-interface feel like it doesn’t meet your needs? Ideally, it should simplify the process of delivering benefits and maintaining accurate records, but if it feels tedious to use, this demonstrates that it needs an upgrade. Your benefits software should enable HR to access data in real time, pull up records in a jiffy and create reports on the dashboards. These are just some of the features that modern benefit software offers that make life easy for human resources professionals everywhere.
It Isn’t Integrated with Other Systems in Your Technology Infrastructure
Today HRM software come with integration-ready solutions. If your benefits software cannot be integrated with other software in your HR tech stack, it’s a clear signal to upgrade. It should also be integrated with your onboarding system, employee engagement, wellness, performance management, and vacation policies. Your tech stack should continuously share data to keep all of the systems and records updated.
Now that you’ve established it really is time for an upgrade, what comes next? Whether you need more automation, better compliance or simply a more API-ready system, there are plenty of benefits software providers that offer an integrated solution. Start by identifying the areas that need to be optimized so you can not only address existing issues but overhaul how you deliver benefits. A good benefits software can help you contribute to a better employee experience.
Article | July 15, 2022
When employees feel they are valued in their workplace, they work better and stay longer. There’s no two ways about it. This is why recognition programs are so critical for performance and productivity. It has a proven positive impact on retention, and that’s just another reason why organizations need to cultivate a culture of recognizing and rewarding employees.
Recognition comes in many shapes and forms and is demonstrated in tangible and intangible ways. But many companies get it wrong and then wonder why it isn’t delivering the expected impact. Here are just some things organizations shouldn’t do when designing a recognition program that leads to meaningful appraisals.
#1 Leaving Equity Out of the Equation
A recognition program isn’t mutually exclusive with your company’s diversity, equity, and inclusivity initiatives. It can either feel equitable and improve employee experience or highlight the bias within the organization. A Gallup and Workhuman survey revealed that only 25% of employees think that recognition is equitably given in their organizations. It is also found that recognition is highly impactful for black and Hispanic staff members.
One way that companies can avoid neglecting the DEI factor in recognition is with the help of public recognition. It allows employees to feel seen and cement their place within the company. It also fosters the employees’ sense of belonging and helps build employee happiness through mutual recognition.
#2 Separating Recognition from the Company Culture
Many organizations treat reward and recognition programs as ‘nice to have.’ Without creating an environment of free-flowing appreciation, gratitude and praise, organizations will find it difficult to encourage and nurture employee morale.
One way to embed recognition into the company culture is by aligning the principles and values of the company with the recognition program. This creates a meaningful understanding of the values and consistency in how employees identify with the company and its mission.
#3 Making Recognition Impersonal and Generic
Recognition cannot be one size fits all and many organizations neglect this simple fact. As individuals, your employees will have different ideas and opinions on what builds up the right amount of recognition and how, when and where they’d like to receive it.
The best way to ensure you’re on the same page as your employees when it comes to recognition is to ask them. It will provide you with a starting point to design a flexible recognition program. A significant number of employees prefer both formal and informal recognition, which includes peer-to-peer praise and verbal appreciation from their managers and leaders. Incorporating a way to award badges and give shout-outs into the communication channels of the company is the simplest way to achieve this.
Organizations that put the time and care to understand their recognition initiatives are better able to maintain their competitive edge. This anti-checklist gives a glimpse of the many pitfalls that organizations fall into when designing recognition programs. Using it will equip your team to provide a better employee experience and increase the engagement that recognition programs generate.
DIVERSITY AND INCLUSION
Article | July 5, 2022
Can a meeting be silent? Can something meant to exchange ideas and illustrate visions do away with verbal communication altogether? Popularized almost a decade ago by eCommerge giant Amazon, silent meetings are now taking Silicon Valley by storm. But what’s making them popular, and what happens when people in a meeting are forced to write down their thoughts before they can air them during calls?
What Are Silent Meetings?
According to a report by Fortune, senior executives are handed a memo at the start of the meeting that they must read in complete silence for over half an hour. They can make notes in the margin that they are encouraged to share and discuss once everyone is done reading the memo. In some companies, employees can make a note of their ideas and inputs in an online document shared by the whole team.
Benefits of the Process
The most significant benefit that this process yields is the inclusivity factor. According to a study by Northwestern University’s Kellogg School of Management, for 60% of a meeting, the same two people will talk more than other attendees.
Silent meetings eliminate imbalanced conversations and create a much-needed diversity of opinions. They are known to increase engagement from participants and make the attendees’ time worthwhile.
However, according to Oyster’s head of workplace design, Rhys Black, silent meetings foster deeper participation because attendees are required to be more present to provide written comments. In contrast, traditional meetings only allow one person to be vocal at a time.
When true collaboration is in order, silent meetings can be a great way to generate individual feedback with some adjustments from everyone in the team. An unsynced document can be shared with each member that aims to educate the team on the problem, propose solutions, and identify a deadline for the solution. This ensures that everyone attending the meeting is on the same page and looped in about possible developments that can then be discussed live in order to maximize the creativity of the people attending the meeting.