U.S. Department of Labor issues new regulations

| April 10, 2016

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This past week, the U.S. Department of Labor issued new regulations requiring financial advisers handling 401k and other retirement accounts to act in the best interest of their clients. CBS News business analyst Jill Schlesinger joins CBS Evening News with more.

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For over 20 years, the answer for thousands of private and public companies, non-profit organizations and federal agencies throughout the Mid-Atlantic has been The HR SOURCE, a GSA scheduled, Woman-Owned Small Business (WOSB).

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How Corporate Coworking is Changing Office Culture

Article | February 27, 2020

The days of sterile workplaces and cubicles are long gone and many experts believe centralized offices aren’t far behind. With brands like WeWork, Industrious, and The Wing popping up offices around the world, corporate co-working is becoming an ever-growing norm. In fact, according to the latest research, coworking spaces globally are set to double by 2022, and 14 percent of employees at large companies use coworking spaces. By 2030, the coworking and flexible workspaces are expected to represent 30 percent of U.S. office stock.

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How HR best practices can transform your workplace in 2020

Article | April 22, 2020

Human resource best practices has drastically changed in the last decade and it has been observed that somehow they affect the organizations in many ways. As a result of this, nowadays, creating programs that improve the quality of work environment, organizing activities to nurture talent anddevelop future leadersmotivating employees, etc. are the things that help align HR goals with the company’s vision. If you manage to make your sales guys happy, it results in a 37% increased sale. The same is the case with other departments. It is found that engaged and happy employees become 20% more productive in their respective work. If your organization is dedicated to following HR best practices, you will be able to see higher employee retention andhappier employees who contribute to the best of their abilities.This blog will take you through HR best practices in 2020 where you will get to know which activities you can apply in your organization, why are they important and how it will affect the workplace in this and the coming years. Let’s go over them one by one. Table of Contents: - Providing Employee Security - Hiring Right Candidate for the Right Position - Improving Engagement Through Feedback - Offering Flexible Workspace - Compensation and Benefits Providing Employee Security It is an undeniable fact that secure employees can give the best work results. When we speak about HR best practices, it is the prominent factor that tops the list. Where there are many changes in the lives of employees, a stable job or workplace is something they look up to and when it comes to career goals of, it is achieved by them in the long term. When employees feel constantly worried about their jobs, they can’t perform which affects their results. So as an employer it is your responsibility to make them feel secure providing everything which is necessary so that they can relax and settle into doing their best work. It is a proven fact that job security is the best motivator for employees around the world when they can see the direct correlation between work productivity and their future with the company. The other side of employee security is retaining employees that can significantly affect your bottom line and increase productivity. It is not just about good employees leaving your organization because of employee security reasons but also being able to maintain them to boost the company’s reputation as an employer as there are always some organizations that are willing to hire good employees. For instance suppose some X number of employees stick together with your organization for a long time, they are more likely to work on dynamic projects. They are the ones who create a stronger bond and bolster a strong sense of corporate culture. Hiring Right Candidate for the Right Position You obviously can’t hire people just for the sake of filling the positions because it seriously affects the organization in long terms. Here comes the selective hiring approach. What is it exactly? Hiring people who are not just fit for the role but also exceptional and can add value is something that every employer would want to invest time in. Performance analysis gives eye-opening data about hiring the right candidates. According to research, the difference between an average performer and a high performer can be as high as 400% and the data proves to be true for various industries, geography, and job types. So it is supremely important to bring the right people in the organization to build a competitive advantage. With the technological advancement, hiring professionals are availed with faster hiring software and tools that save your time. Further, to filter out candidates, the selection criteria that decide the characteristics of a candidate can be divided into 3 sections as ability, trainability, and commitment. Depending on these capabilities, it becomes easier for you to make hiring decisions. Improving Engagement Through Feedback Employee feedback is beneficial for both i.e. employees and the company. For employees, it is beneficial for career development and for employers and the company it results in much better and improved productivity. So it is important to note that every person involved in the feedback process is well aware of what needs to pay more attention and that fills the gaps for overall success. To support why employee feedback is necessary, there are some stats. -69% of employees say they would work harder if they feel their efforts are valued and recognized. -In a study of 65, 672 employees, Gallup (An American analytics and advisory company) found those employees who received strength feedback had a 14.9% lower turnover rate than those who did not receive any feedback. Growth seems impossible without crucial feedback that is delivered regularly. It impacts financial growth, leadership growth, employee engagement, and the cultural growth of the company. Offering Flexible Workspace Nowadays workplaces have become more than cubicles where employees just come in, make them comfortable and focus on work with freedom in mind. If you are wondering about how office designs can motivate employees to increase work productivity then it will be good to know for you that many companies are investing to support flexible workspaces. Even if the existing design of your office is professional, you may be lagging in getting the most out of available space and when you think of employee comfort and workflow. To start with, simply you can allow them to tailor and custom their desks inspiring flexible work environment. Another aspect that comes under this category apart from physical space to work is giving your employees access to work from home. In the end, employees are people with different preferences and to value their preferences is surely going to result in better productivity making more profit in the business. So it’s always an option to think about how and when they work which is going to save money, time, resources, enhance productivity, creativity, creating happier and healthier teams. So, here is an opportunity to make it a win-win situation for business owners and employees to cherish in 2020. Learn more: Critical factors that affect employee productivity Compensation and Benefits After hiring the right people what HRs need to focus on is retaining them balancing their and the company’s growth. These are the people who will be adding value and achieving goals of the company so you need to pay them fairly and inspire to make them stay. Apart from this, you can give them performance-based rewards appreciating their contributions at every step of the journey. Activities like this create a sense of ownership for employees and they get motivated to maximize their results, commitment to the company’s long-term visions and you will be able to retain high potentials.

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How to Deal with Employee Burnout in Your Business

Article | August 12, 2020

The term 'burnout' has been around for a while now, but we're starting to see and hear more about employees 'burning out' in recent years. The World Health Organisation are now officially recognising employee burnout as a major health risk, but in the past, burnout symptoms have often been misinterpreted as tiredness, disengagement or even laziness. Fast forward and a Gallup survey has found that the top five reasons for employee burnout are actually.

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Covid-19, Difficult Truths and the Urgency of Closing Racial Gaps

Article | April 30, 2020

In less than two months, COVID19 has forced America to look at an honest picture of itself that it has been avoiding for a long time. It isn’t pretty. We are witnessing the costs of building a society where a large part of the population experiences extreme financial instability, housing insecurity, student debt burdens, lack of basic health care, and can’t even provide broadband at home so their kids can go to school. None of this information is new, but it took a crisis like this to make it impossible to keep such shameful statistics at arms’ length, when so many of our family, friends and neighbors are suffering.

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The HR SOURCE

For over 20 years, the answer for thousands of private and public companies, non-profit organizations and federal agencies throughout the Mid-Atlantic has been The HR SOURCE, a GSA scheduled, Woman-Owned Small Business (WOSB).

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