Posts

retain employees

4 Ways to Avoid the Dreaded High-Turnover Rate

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.

Here are four ways companies can step up their game and hold on to the talented employees they worked hard to acquire:

  1. Get Rid of Top-Down Management

Everything in the business world is evolving and the concept of management is not immune. Many of the old rules and practices no longer apply, and the lack of a modern workplace philosophy is forcing skilled workers to leave their current company and take their talent elsewhere. The top-down approach to leadership and ruling with an iron fist is no longer a popular way to run a business.

In today’s workplace, the term “collaborative leadership” is commonly cited as a strong approach to employee management. This concept emphasizes leading by example and focusing on both corporate and individual benefit. For instance, Jacob Morgan, author of The Future Of Work, explained in a Forbes article how AMP Bank in Sydney, Australia makes it a point to sit down with each employee to explain how new technologies and strategies can benefit both parties.

It’s important to realize the vital role management plays in the development of a company. Gallup estimates that managers account for 70 percent of the variance in employee engagement scores across business units. Great leadership is a crucial factor in retaining employees; it goes back to the famous saying that “people don’t leave jobs, they leave managers.”

  1. Learn What Millennials Want

By 2020, it’s estimated that nearly half of the workforce in the United States will be comprised of millennials. Therefore, it is crucial to determine what these younger employees want out of a company. Ask yourself the following questions:

Millennials are looking for more than just a job with a steady paycheck, they want careers in which they are engaged with their company’s goals, and can develop their professional skills. A 2014 survey conducted by the Harvard Business Review and The Energy Project found that employees are most engaged when these four core needs are being met:

  • Value – Being cared for by their supervisor
  • Purpose – Finding significance in their work
  • Focus – Prioritizing
  • Renewal – Ability to take needed breaks

Regardless of the age of the employee, there is nothing worse than being stuck at a job that isn’t motivating. Fostering employee engagement can be difficult. However, emphasizing honesty and transparency for both company and employee alike can be integral in obtaining uninhibited employee feedback to gauge the direction of your workforce and what motivates them.

  1. Promote a Culture of Innovation

Everyone wants to be involved in a cutting-edge organization. Companies that want to remain ahead of their competitors must do their best to promote this mindset both internally and externally. For starters, when you’re advertising a job opening, take a step back and examine what your company is doing differently than similar organizations. Once you have a firm answer, drive this idea home and showcase what your business is collectively bringing to the big picture compared to your competitors.

Based on your business, this can be a daunting task. But, regardless of what product or service you provide, there is always room for innovation. Take Michelin for example. Tires might not seem like an innovative product but the science behind how rubber interacts with the road is complex. To promote a company-wide innovative mindset, Michelin sponsors cross-functional hackathons and internal incubators where employees are free to take risks and come up with new ideas for the good of the company.

Making sure that innovation is a strong aspect of your culture can play an enormous role in keeping employees engaged and motivated.

  1. Recognize and Reward Employees

While this one might seem obvious, it is still accurate: everyone likes to know their hard work is being noticed. Great employees are hard to find, and even harder to keep. So when you notice colleagues going above and beyond the call of duty, it’s important to provide plenty of recognition and rewards to encourage repetition. Recognition is essential to employee engagement and The Corporate Leadership Council shared in a recent report that highly engaged employees are 87 percent less likely to leave the organization.

Events like company-sponsored happy hours or weekend getaways celebrating a strong quarter can go a long way in demonstrating to employees how much their work means to an organization. Going beyond these types of “job well done” gestures, making sure top performing employees are appropriately compensated is the most important factor in employee retention.

To address this, you can try setting up recognition and rewards programs that encourages daily praises and constant appreciation. Or consider implementing programs within the workplace that are transparent when it comes to pay raising goals, such as merit-based pay structures. Just be sure to set goals at a level in which employees will need to put their best foot forward, while remaining reasonably attainable.

Talented workers tend to know their worth. If you are not paying them appropriately, they will have no problem finding an organization that will.

Over to You

Retaining high performing employees in the current business climate is very challenging, and with the many detrimental costs of employee turnover, your company’s bottom line could be adversely affected. If your turnover rate is higher than you would like, it might be time to take a close look at day-to-day operations and find the root cause as to why people are so willing to leave your organization. Sometimes, it is a simple fix. Other times, a complete organizational reinvention is needed to ensure the external perception of your organization matches the internal. At the end of the day, a company that focuses on engaging their employees, whether through strong leadership, culture, recognition, or rewards is on the right track to reducing turnover.

To learn more about employee turnover, check out the blog post How to Spot Who’s Going to Quit Next.

Learn More Red CTA Button

 

 

About the Author
Lori Wagoner is a market research consultant. She advises small businesses on new ways to find local and national business. She’s an avid blogger and writes for sites such as Small Business Can, Tweak Your Biz and Customer Think. You can catch her on Twitter @loridwagoner.

 

Recognition: The MVP of Employee Engagement

No longer a specialist relief pitcher called in to face a tough hitter, or a rarely used bench player padding stats in garbage time, employee recognition has become a widely recognized superstar when it comes to driving employee engagement. And with only 41% of employees recognized at their desired frequency, and 60% feeling their managers don’t recognize them in the moment, a huge opportunity exists for your business to leverage recognition to engage your employees.

While there are a variety of ways to help create an engaged workforce, many experts, including AON Hewitt and the Harvard Business Review, believe that recognition is the most important pillar of any employee engagement program. As Meghan M. Biro states in her new eBook Recognition Culture: The MVP of Employee Experience, “Be it bonuses, awards, rewards, a virtual gold star, or a simple shout out on social media, fostering a culture of recognition drives higher levels of engagement, which translates into improved performance and better results.”

With the shifting dynamics and demographics in the contemporary workplace (millennials now outnumber baby boomers and the economy is reaching “full employment”) there is a greater emphasis on the individual. Accordingly, employee recognition should follow suit and be relevant to the person receiving it.

Gone are the days of the monolithic approach to recognition, in which employees were only recognized once a year during a performance review, with little news of their accomplishments reaching the greater organization or even worse, once every five or ten years with a “Years of Service” award. Replacing this approach with one focused on recognizing and rewarding people frequently with meaning and specificity has become critical in creating a true culture of employee recognition. And it follows that the more frequent the recognition the higher the employee engagement.

The Impact of Recognition: Is It Real?

Recognition as a philosophy is one thing, but does it have quantifiable value when put into practice? Horizon Blue Shield Blue Cross of New Jersey thinks so. In 2013, they implemented their Step It Up employee recognition program (hosted on Achievers recognition and engagement platform) across their four business locations in the hopes of increasing employee engagement. By year’s end, 90% of employees had joined the platform, with executives leading the way by being amongst the most active users. All of this activity contributed to:

  • 6 percent increase in its overall engagement scores
  • 14 percent improvement in engagement survey results related to recognition
  • 97 percent activation rate for its Step It Up Employee Recognition Program

The Step It Up program is still in frequent use today, with executives continuing to lead the recognition charge.

What You’ll Learn

Instituting a company-wide recognition program that encourages frequent peer-to-peer recognition regardless of title or department can be a game changer. In her new eBook, Meghan M. Biro provides the reasons why employee recognition is the most valuable tool for creating a culture of engagement and explains how tying recognition to core company values can ensure repetition through reinforcement – and have a positive impact on key business metrics including productivity, innovation, retention, and customer satisfaction.

If any of these business objectives mentioned are important to you, then it is time to consider implementing a strategic recognition program. But what should you look for when deciding on the best platform for it? To find out the answer to that question and more, download Meghan M. Biro’s latest eBook Recognition Culture: The MVP of Employee Engagement.

ebook CTA Blog Button

About the Author

Iain FerreiraIain Ferreira is the Content Marketing Manager at Achievers. He lives in San Francisco. You can view his Linkedin profile here.

 

 

 

 

Engage Millennials in the Workplace

6 Easy Ways to Make Your Team Millennial-Friendly

With a steady increase in employable candidates, and the continued exodus of baby boomers, millennials are now in a position to have a major influence on their workplaces. But according to a recent study by Gallup, only 29% of millennials are engaged at work. This shouldn’t come as a surprise; millennials make no secret as to what they feel makes a workplace engaging. They want challenging, rewarding work in a team-oriented culture. Based on the knowledge above, it doesn’t hurt to ask: Are you actively molding your team dynamics to meet millennials’ expectations? Are you working on the transition from a ‘command and control’ structure to a network of cooperative and inclusive teams?

If the answer to the questions above is “no”, don’t fret, you don’t need a full overhaul of your business model to improve employee engagement and sense of fulfilment of your impact-driven millennial employees. Here are 6 easy ways to make your team millennial-friendly.

business employees

1. Empower small, agile project teams

In today’s fast-paced, global business environment, maximizing value streams is key to maintaining a competitive edge.

To do so, organizations often prioritize increasing their margins through best practices and efficiency. However younger employees tend to derive value from innovation and continuous results.

But it is possible to be cost-efficient and millennial-friendly at the same time. To do so organize work into small projects owned by agile, flexible teams.

Agile teams operate in a low-cost environment. They quickly address problems with solutions by bringing together business improvement concepts with customers and senior level colleagues.

By operating in project-mode, you create an ecosystem that meets 3 millennial needs:

2. Adopt transparency in communication and leverage popular mediums

In a world where work can be done anytime, anywhere, accurate and fluid communication can be a challenge for any organization.

Your young, socially-connected workforce expects information to be widely available in a timely fashion. For them, transparency from top to bottom creates a sense of collaboration.

Collaborative discussions and open-feedback loops will be helpful if you want to make your team millennial-friendly. Another efficient way to build trust across the organization is to bring strategic messages closer to employees.

Video technology allows executives to share a strategic message directly with their teams. Why not create a short “welcome” video from your CEO for new hires? Or take advantage of live video and share short messages in real-time?

3. Flatten organizational structures

A well-known contributor of employee engagement is a sense that an individual’s contributions have influence on the success of an organization as a whole.

A good way to achieve this is to give your millennials the freedom to be part of the decision-making process. If your organizational structure doesn’t allow a collaborative process for decisions, you risk deflating your young talents’ sense of leadership.

Take the Swedish company, Spotify, for example: Spotify creates engagement by balancing autonomy and accountability.

Spotify’s core organizational unit is an autonomous squad of no more than eight people, […] accountable for a discrete aspect of the product […] Several squads (are) linked together through a chapter, which is a horizontal grouping that helps to support specific competencies […]. Leadership within the squad is self-determined, while the chapter leader is a formal manager who focuses on coaching and mentoring.”

Spotify’s horizontal structure redistributes decision-making across employees, in contrast to traditional top-down, hierarchical models. This results in faster response times while simultaneously holding employees accountable for their ideas.

Not ready for a full overhaul? Not to worry, it’s still possible to reinforce your employees’ sense of responsibility and autonomy without undertaking a total business transformation. Small changes in your operating model can indicate that you value cross-functional collaboration over typical management control.

For instance, you can empower teams to discover best practice methods, and encourage adoption of these approaches from the bottom up. Or ask team leaders to embrace a coaching mindset that aligns with millennials’ need for regular feedback.

Employee Coffee

4. Change the focus of your meetings 

With the always-connected nature of millennials, massive amounts of information is consistently at their fingertips. And with the expectation that this information is to be digested and distilled into valuable bits to present to a team, establishing a well-defined focus for team meetings can create an environment ripe for actively exchanging ideas. According to the 2016 Deloitte millennial survey, the ideal millennial workweek includes 4.6 hours spent discussing ideas and new ways of working.

An easy way to make your team millennial-friendly is to carve out some time for “thought showers”; open discussions on lessons learned and continuous improvement. Alternatively, you can increase their sense of contribution by giving your young talent a spotlight to share their perspectives on a topic or cause they’re passionate about, or a cause they care strongly about.

5. Rethink flexibility

Flexibility is often seen as ‘flexi-time’ and work-from-home practices. These are elements of a culture of trust, and known factors in talent retention.

But flexibility can, and should, go far beyond this. What about encouraging flexibility of ideas, and diversity of thought?

An “open-door policy” towards new ideas embeds a culture of collaboration, innovation, and equality. At the same time, mentoring programs encourage cross-pollination of skills across generations, making employees more adaptable to rapidly changing business objectives. Promoting cultural intelligence within global teams brings various creative perspectives together.

A millennial-friendly team is flexible in the way it operates, and in the way its members think.

6. Make the team work for a higher cause

Team building significantly helps to retain talent, according to 79% of millennials polled by The Go Game.

But for a young workforce that takes pride in contributing to wider causes, team building activities must go to the next level. 76% of millennials regard businesses as a force for positive social impact. 

You can make your teams millennial-friendly by organizing charity days, or better yet, offering ‘volunteering leave’ so employees can partake in people-centric activities (e.g. involvement in LGBT or corporate responsibility).

By supporting such initiatives, you show that the team is, first and foremost, a group who share similar human values.

Mobile work

A small set of actions is all it takes to get started making your team millennial-friendly. Initiatives that connect directly to your young talents’ sense of purpose are easy to introduce but highly rewarding. These include improving collaboration across teams, fostering a sense of contribution, encouraging millennials to take responsibility, and enhancing transparency at all levels of the organization.

Now, what if you want to take employee engagement to a deeper level? Young generations want their values to be shared by the organizations they work for. So involve your millennials in office culture improvement, by giving them the freedom to find creative ways to internally promote your set of core values.

Want to create a magnetic culture? Access this webinar recording.

Learn More Red CTA Button

 

 

About the Author
Coralie SawrukCoralie helps global organizations create efficient team dynamics. A people-person at heart, she believes the ultimate competitive advantage is created by the right talents working hand-in-hand, cheerfully. Coralie provides Strategic Business Transformation services across the globe, and mentors ambitious talents who want to become role models. Visit Coralie’s website or get in touch on LinkedIn.

 

 

 

 

the value of coaching

Why Millennials Want Coaches, Not Managers

Your workforce is increasingly made up of millennials; this is unsurprising – they’re the ones with the most contemporary skills, and with each passing year they become a larger percentage of the working world. With close to 10,000 baby boomers turning 65 every day, millennials now represent the largest subset of America’s workforce. Approaching these younger workers with the attitude and expectations of a coach, rather than the antiquated characteristics of a traditional “boss,” is key to maintaining their engagement. Here’s how a coaching style differs from the approach of a traditional manager, along with a few insights about why this shift in managerial style is so important.

Coaching responds to failure with empowerment

A manager who behaves in the classic “boss” tradition is likely to take a disciplinary tone after an employee fails or does a poor job on a project. Getting “chewed out” by the boss is a familiar trope in the stereotypical work environment. Coaching, on the other hand, takes an entirely different approach. If a player on a sports team does badly, the coach may feel frustrated, but he or she is well aware that scolding and criticizing the player is not likely to yield better results in the future. Instead, a coach views failure as a sign that the player needs more training, support, and encouragement.

Harvard Business Review (HBR) describes the behavior of award-winning college coach Mike Krzyzewski after a player’s carelessness caused his team to lose. He took the whole team out for an ice cream sundae party, emphasizing encouragement and team-building, and then he held an extra practice to help everyone come together again.

Millennials want more frequent feedback

When you picture a coach guiding a team to victory, you probably imagine lots of feedback was involved. The coach is on the sidelines, shaping the choices that the players make and shouting encouragement or suggestions. After the event, the coach probably holds a video session and works together with players to identify areas that need improvement. It’s all very hands-on.

Now, contrast that leadership style with the annual employment evaluation that typifies an old-school manager’s pattern. An employee is called in to the boss’s office and given an evaluation containing praise and criticism that might be outdated, perhaps even a year old. A coach wouldn’t have a successful team if he or she only gave feedback once a year.

Furthermore, millennials want the high-touch guidance of a coaching culture. A global survey finds that overall, millennials want feedback 50 percent more often than older employees, with most of them preferring feedback on a weekly or monthly basis.

Employee success depends on rewards and recognition

While frequent feedback is a proven method for increasing employee engagement, the quality of that feedback is equally important. An effective coaching approach is based on recognizing each person’s individual strengths. Best practices include creating a company culture that emphasizes positive feedback and employee appreciation. Positivity is necessary in every workplace, but it’s especially crucial when you’re leading a team of millennials.

A recent Gallup report noted, “Only 19 percent of millennials say they receive routine feedback. An even smaller percentage of millennials (17 percent) say the feedback they do receive is meaningful.” This same report states that fewer than 15 percent of millennials ask for the feedback they really want; so it’s up to leadership to establish these employee recognition best practices.

Managers are an important source of professional learning and development

Forbes states that most millennials identify their manager as their main source for learning and developing skills, but only 46 percent of those surveyed believe their deliver on this hope. These numbers are helpful because they indicate a direction you can take with your management style. One millennial worker quoted in the HBR article states, “It’s very important to be in touch with my manager, constantly getting coaching and feedback from him so that I can be more efficient and proficient.” And to further illustrate how much millennials crave learning and development, it’s been reported that 62 percent of executives say millennials will consider leaving their jobs because of a lack of learning and development opportunities.

Coaching takes the whole person into account

Though today’s cutting-edge companies invest serious effort into making sure their employees have a good work-life balance, they also realize that this new approach looks at employees as whole people, not just a drone carrying out a task with little to no thought. A great deal of research has gone into the psychology of coaching and the need to consider the “inner game,” but this mindset is still very new to the corporate world.

As more managers realize that helping their employees to maintain a healthy work-life balance will result in more highly engaged employee, they will likely change their style of supervision to emphasize encouragement. It’s all part of a more holistic approach to talent management; a recognition of workers’ inherent humanity and a step away from viewing them only as cogs in the wheel of a production assembly line.

It’s all about performance

Of course you want to treat your employees well for their own sake, but you also want to be an effective business person. You want to manage your team in such a way that productivity increases, both now and in the future. This often means understanding the unique needs of your millennial workers.

A coaching approach, versus a top-down “I’m-the-boss” approach gives you an incredibly powerful tool for increasing employee engagement among your younger team members. These workers will respond with higher performance and greater loyalty, bringing sustainable growth to your bottom line.

To learn more about how you can effectively introduce employee recognition to your millennial team, download our white paper, “Sink or Swim: How to Engage Millennials to Ensure the Future of your Business.”

Download White Paper Red CTA Button

 

 

 

Employee Engagement in HR Tech

3 Employee Engagement and Recognition Predictions for 2017

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.  With the right recognition software in place, employees are able to gain a clear and immediate picture of their short-term achievements, how they compare to their team members, and how they’re measuring up to personal goals and company goals. They also get valuable feedback and recognition for a job well done.

The millennial generation looks for things other than a steady paycheck and the stability of working for one employer for the next twenty years. In fact, the majority of them will consider moving jobs if it means advancement and learning something new. HR departments need to continue seeking new ways to hang on to their top talent through something more substantive than free lunches and napping pods.

This is why in 2017, more companies will be focusing on employee engagement and the employee experience as part of their retention strategy. We can also expect more companies to adopt employee engagement software. Here are our top three predictions for 2017:

1. More Work-Life Blending

The modern workforce is willing to work hard, but they want to maintain flexibility and balance with regards to their personal lives. Today’s employees are comfortable checking their smartphones on personal time to respond to work emails and doing a little work on their laptop after having dinner with friends or family, as long as it means that, in return, they can skip the grueling commute and work from home once a week, or leave early to catch their daughter’s 3 p.m. soccer game.

Collaboration tools let employees check in with their boss, team, or a company meeting, without physically having to show up, and without losing any of the momentum on a project or missing important deadlines.

2. Recognition Will Continue to Increase in Value

The average time an American employee spends with any one company now is less than five years. This is a far cry from the days of gold watches and lunch with the CEO thanking you for your many years of service. Employees are more interested in social recognition, because feeling valued is a critical component to the work environment they want to be a part of. They want to feel like the work they do matters, that it’s noticed, that it made a difference.

Receiving recognition, encouragement and appreciation is inspiring and motivates employees to continue doing great work. Employee engagement strategies help leaders and peers to publicly recognize a job well done and fosters a culture of celebration.

3. Flashy Benefits Won’t Compete

People are starting to value experience over money, which is why they want to work in a culture of growth and learning and have opportunities to do something they can be proud of. Employee engagement software helps employees know exactly what kind of impact they’re having on the business in real time.

Culture has become one of the most important things a company can focus on, and providing employees with autonomy, flexibility, and the chance to make an impact, are the new differentiators for attracting talent. Benefits packages are still important, but in 2017, they will become secondary to positive employee culture. Companies that have ditched the traditional, annual review and moved to a model of continuous feedback and a strong culture of recognition are far more attractive to today’s employee than those offering a catered snack bar and quarterly ping pong tournaments.

* * *

In 2017, you can expect to see more companies adding employee engagement software to their HR platforms, doing away with the traditional annual review process in favor of continuous feedback, furthering the work-life blend, and placing a strong focus on the employee experience, aligned with a purposeful mission and meaningful goals.

Learn More Red CTA Button

 

 

About the Author
Jessica Barrett Halcom is a contributor for TechnologyAdvice.com, with specializations in employee engagement, learning management system and performance management software. She holds a bachelor’s degree from the University of Wisconsin, Green Bay and currently lives in Nashville, TN.

 

Positive Work Culture

5 Company Initiatives That Improve Office Culture

In today’s competitive market for talent, office culture is everything. With employees spending most of their time (some upwards of 50 hours a week) in the office, it’s should come as no surprise that HR leaders consider developing and nurturing corporate culture and employee engagement to be their number one challenge.

Luckily, you don’t have to reinvent the wheel to improve company culture. Initiatives that promote health, work-life balance, kindness and gratitude already exist and can go a long way in bolstering a positive office culture while also increasing engagement.

If you’re unsure where to start, here are a few initiatives to consider:

Employee Health

Companies have been holding organization-wide health challenges and the like for some time now, but the kinds of health initiatives employees desire are different than they once were, where end results were all that was emphasized. People don’t want to step on a giant scale and see how much weight they lost (or didn’t lose!). Instead, they want measurable processes that lead to overall well-being; to track progress with technology, get stronger, healthier, and feel great. With that in mind, here are a few modern health initiatives to try:

Supply organic lunches: According to a 3-month Communispace study. millennials care deeply about what they eat: “More than a quarter say organic, natural and non-toxic products are part of maintaining their health and may see them as alternatives to traditional medicine, signaling an opportunity for brands well beyond the traditional health care sectors,” If your organization can’t pay for lunch every day, choose a couple days to provide an organic lunch for employees or consider partnering with a catering company or bringing in a chef.

Strength challenge: You are probably familiar with popular health hashtags such as: #Healthyisthenewskinny and #progressnotperfection. With the idea of encouraging progress towards health goals in mind, why not hold a fitness challenge and then give employees a period of time to prepare for a re-test, challenging them to improve their performance and beat their old numbers. The friendly competition will encourage camaraderie and morale among employees while emphasizing greater personal health through competition.

Sleep goals: According to the American Academy of Sleep Medicine, the more sleep an employee gets, the less likely they are to call in sick: “Results show that the risk of an extended absence from work due to sickness rose sharply among those who reported sleeping less than 6 hours or more than 9 hours per night,”

With fitness trackers and other wearables, people can now track how long and how well they’re sleeping every night. Set a sleep goal for employees and have them track their sleep over a period of time to earn rewards like gift cards, merchandise or PTO. Employees will feel better and they’ll love telling people they have “sleep goals” for work.

A Kindness Initiative

We could all benefit from more kindness in the world these days; not only at work but throughout our daily lives. In a recent poll, 76 percent of respondents said the world is a less kind place than it was 10 to 20 years ago. One way to bring more kindness, respect, and empathy into the workplace is with a kindness initiative.

It should include the following components:

Create a set of kindness “pillars” that everyone follows. Examples include: When giving constructive criticism or performance feedback, always give “compliment sandwiches” (compliment, criticism, compliment), assign work based on people’s strengths to set everyone up for success, exhibit small acts of kindness like holding the door open for coworkers, etc.

Institute regular recognition of employees. For this to stick, it has to work top down. Managers and team leaders can plan a monthly meeting where one or a group of employee(s) is called out for their excellent work. To ensure a tangible element for this type of recognition, employers can also create a wall of fame to post photos of these high performing employees. For larger organizations, an employee recognition platform is a great way to create and embed a culture of recognition.

Encourage employees to “give props” to their peers. If you use a tool like Slack to communicate within your office, this is easy to facilitate. Set up a channel where employees can recognize one another with a timely “thanks” or “nice job” regarding recent business successes. Using Slack, colleagues can not only tag the recipient of the “props”, but the entire channel, so everyone sees what that person did. Some recognition software providers, like Achievers, even allow the integration of popular tools like Slack within their recognition platform to further encourage “recognition in the flow of work”.

Employees will love getting the extra recognition, and more kindness may help reduce drama and sticky office politics.

A Volunteer Initiative

Giving back is not only good for the soul of your organization, it’s also good for attracting and retaining millennials: But sadly, only 57 percent of millennials believe that business leaders are committed to improving society. A volunteer initiative is relatively easy to set up and gives you a chance to boost your employer brand while also increasing loyalty and engagement among millennials.

Here are a few suggestions for setting up a volunteer initiative:

  • Hold a bi-annual volunteer event, where employees volunteer their time rather than go into the office for the day. Don’t do it on a Saturday—not only will you likely cripple turnout, but employees will likely not appreciate having an initiative such as this scheduled during their free time.
  • Reward employees who volunteer on their own time with “free” half-days.
  • Give every employee one workday a year, month or quarter to take part in a volunteer activity of their choosing.

In addition to the inherent value of the good deed itself, participating employees will feel good about themselves and gain more respect for your business, making volunteer initiatives especially valuable.

A Work/Life Balance Initiative

In the aforementioned Communispace study, 49 percent of millennials reported work-life balance as an important part of their health and wellness, followed by relationships with friends and family (47 percent). Employees of all generations care greatly about achieving a proper Work/Life balance, making it an important part of any culture campaign.

Luckily, there are many ways you can help employees foster desired work-life balance:

  • Half-day Fridays: Offer this once a month, or during a specific quarter. Many companies do this in the summer, when people tend to go on more weekend escapes.
  • Flexible work hours: Instead of limiting office attendance to the standard 9-to-5, allow employees to work when and how they can personally be most productive, whether that means coming in and leaving early, or working through the night. As long as they are performing up to expectations and making themselves available for meetings and other requests from colleagues, allow them the flexibility to manage their own schedules.
  • Work from home: If possible, allow employees to occasionally work from home, be it once a week or month.
  • Unlimited time off: This is something many startups and even larger companies are starting to offer. Employees can take as much, or as little time off as their job permits, without worrying about PTO caps or tracking their remaining vacation days. Fostering trust among your employees does wonders for engagement and it also benefits employers as it has been suggested that employees may actually take less time off when they have unlimited PTO.

A Shadow Initiative

This initiative allows employees to shadow their peers for a period of time. Business departments often get siloed and have little understanding as to what each other is doing. Shadow initiatives give everyone a chance to understand the roles of their collegues and see how their two positions can work together to achieve even better results.

To keep it organized, allow one department to shadow each month. For example, in March, members of the marketing team will shadow whomever they want. Set your time period (4 hours, an afternoon), and ask each shadow pairing to come up with one way they can work together in the next month.

Employees will love spending time doing something new and the business will flourish as connections are made that take projects and ideas to the next level.

To learn more, download the white paper All For One and One For All: Uniting a Global Workforce With Company Culture.

Download White Paper Red CTA Button

 

 

About the Author
Jessica Thiefels
Jessica Thiefels has been writing and editing for more than 10 years and spent the last five years in marketing. She recently stepped down from a senior marketing position to focus on growing her own startup and consulting for small businesses. She’s been featured on Forbes and has written for sites such as Lifehack, Inman, Manta, StartupNation and more. When she’s not working, she’s enjoying sunny San Diego with her husband and friends or traveling somewhere new. Follow her on Twitter @Jlsander07.

 

Reasons to welcome the millennial influence

The Demands of Millennials Make Our Workplaces Better

For all the complaining about Millennials and their approach to the modern workplace, they are actually responsible for much of the change happening in the modern workforce. Their entry into the workforce, was accompanied by a slew of stereotypes, followed recently by a round of myth-busting, with statistics and all, aimed at debunking those stereotypes. As an “ancient Millennial” myself (a term I borrow from journalist Jessica Grose), I can attest that at least some of the stereotypes come from kernels of truth, but like most stereotypes , they must be taken with a grain of salt. More importantly, many of the changes Millennials bring to the workplace are actually good for everyone. Change is always hard, so it’s natural to initially oppose or question the forces of change. However, most of the changes that Millennials have brought about have actually made for a better workplace.

The influence of the Millennial generation is not to be underestimated, if for no other reason than its size. According to a recent report from SHRM, (“Millennials: Misunderstood in the workplace?”) as  Baby Boomers exit the workforce, an even greater number of Millennials will continue to enter the workforce to take their place. In fact, it is estimated that Millennial workers (those born between 1980 and 2000) will make up more than  half of the workforce by 2020. And, according to Pew, they already make up the largest overall share of workforce, having surpassed Gen X’ers in 2015. With those facts established, here are four reasons to welcome the Millennial influence:

Generalization #1: They need constant feedback: Millennials grew up in a feedback culture. Some say that Millennials are obsessed with getting positive feedback (you’ve likely heard of the “trophy generation”, but put simply, it is the belief that we are doing our youth a disservice by lauding them for mere participation rather than awarding success.). But even if that’s true, it likely contributed to an encouraging new trend – the phasing out of annual performance reviews. An annual performance review simply doesn’t tell us enough in today’s fast-paced business culture. If HR hears a complaint about an employee but their 8-month old performance review shows high marks, that documentation does little to advise any action. In 2017, we will likely see employers implement more regular feedback conversations along with frequent “pulse” surveys to help identify and address employee concerns in a more timely, actionable fashion.

When employers engage employees in regular, smaller-scale conversations, both management and employees are better equipped to deal with issues as they come up. This in turn helps employees to feel more engaged because they know their suggestions and concerns are being listened to. Furthermore, by combining these mini performance management conversations with real-time feedback tools for employees, management can help facilitate a culture of transparency in which both positive and negative business outcomes can be celebrated or addressed openly.

Generalization #2: They demand more work life balance: One of my favorite Millennial trends is that men are beginning to demand more time with their families. They ask for paternity leave more than their fathers did, for example. And because married Millennials overwhelmingly co-lead a dual-income household, they can’t buy into the 80-hour work week like their fathers did before them. As a recent article in The New York Times put it: “Millennial men—ages 18 to early 30s—have much more egalitarian attitudes about family, career and gender roles inside marriage than generations before them, according to a variety of research by social scientists. Yet… workplace policies have not caught up to changing expectations at home.”

Likewise, a Department of Labor report also highlighted the growing importance of paternity leave as men consider whether to accept a job, noting: “Paid paternity leave may be a key workplace benefit for retaining high-skilled workers. In a 2014 study of highly educated professional fathers in the U.S., nine of out ten reported that it would be important when looking for a new job that the employer offered paid parental leave, and six out of ten considered it very or extremely important. These numbers were even higher for millennial workers.”

Millennials came of age watching their parents work long hours and aren’t convinced it translates to a happier existence, or even a fatter nest-egg for themselves. With this in mind, employers would be wise to encourage work-life balance in the name of productivity and worker satisfaction. Even the U.S. Commissioner of Labor Statistics agrees that hours with your butt in a seat does not equate to more productivity, “Only if we increase our efficiency—by producing more goods and services without increasing the number of hours we work—can we be sure to increase our standard of living.”

Generalization #3: They need hand-holding. It’s true that most managers don’t have time for hand-holding. However, research published in the Journal of Workplace Learning shows that companies who have a “culture of learning” rely not just on managers to disseminate information. Not only does their training help them perform their job functions better, but employees who are able to embrace learning and growth opportunities also feel more valued and engaged, doubling the value for the company. Learning can happen anytime, often facilitated by a co-worker (“Contextual factors influencing the facilitation of others’ learning through everyday work experiences” by Andrea D. Ellinger Maria Cseh), so managers don’t have to feel the exclusive burden of teaching their staff everything.

Generalization #4: They feel entitled to career advancement: Climbing the corporate ladder just isn’t as important to Millennials as it was to their parents (see Generalization #2: they value more work-life balance.) When they see their managers put in long hours at the cost of their personal lives, it doesn’t look appealing. In addition, Millennials learned the difference between “management” and “leadership” before they even entered the workforce, and the 80 hour week management job that only serves to maintain the status quo is not their idea of having an impact. Millennials might feel entitled to advancement in a different sense. They want to keep learning and keep contributing. If other generations in the workplace adopted this sense of motivation, you might not see a scramble to fill the senior manager job, but you’d have leaders everywhere.

Learn More Red CTA Button

 

 

About the Author
Anna PetersAnna Peters is Content Manager for College Recruiter. She manages all content, supervises a team of content writers and is part of College Recruiter’s senior management team. Her prior experience at nonprofits has made her an expert in directing volunteer recruitment and a champion for diversity and inclusion efforts. Connect with Anna on LinkedIn.

 

 

Desire for Social Recognition

Why Employees Love Social Recognition

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 the Harvard Business Review, recognition given to top performers was the most impactful driver of employee engagement. Social recognition, in particular, is a fun and easy way to quickly show employee appreciation and boost employee engagement.

More recognitions = higher employee engagement

Employees experience an increase in job satisfaction from rewards and recognition, and it’s important they come from peers as well as supervisors. As noted in our recently published eBook, The Case for Employee Recognition, 71% of employees rank employee engagement as very important to achieving overall organizational success and 72% rank recognition given for high performers as having a significant impact on employee engagement. Furthermore, the report shows there is a negative correlation between the effectiveness of a recognition program and employee turnover rates – meaning employee recognition not only boosts employee engagement but reduces turnover rates as well.

Rewards and recognition create a positive workplace culture

A recent SHRM study noted that employees consider “culture and connection” to be a major contributing factor to employee job satisfaction. In recent years it has become widely accepted that implementing a robust rewards and recognition program is one of the top means of fostering a positive workplace culture, and one that promotes mutual respect and employee appreciation. In fact, a 2015 Cornell University research review noted that, “41 percent of the variation in employee engagement is attributable to the strength of recognition an employee receives,” and that 42 percent of companies with recognition programs include a social peer-to-peer component. In the conclusion of the study, the author states: “Recognition programs are becoming powerful avenues for exerting positive change in the workplace. What was once a nice-to-have practice is becoming a driver for improving employee engagement and a host of other factors that impact the bottom line, when properly executed. By making the programs strategic, leveraging peer-to-peer recognition, and garnering top executive buy-in, companies can maximize their return on investment on these programs.”

Social media is second nature

By 2025, millennials will make up 75 percent of the workforce, and they are accustomed to spending a big chunk of their time on social media. Giving and receiving positive reinforcement by way of social recognition is fun and natural to them. Social recognitions are not viewed as tasks or something they need to check off the “to-do” list, but an instinctive way to communicate with their peers and to showcase each other’s accomplishments. Social recognition has become an invaluable piece of the puzzle when it comes to initiating and sustaining an effective rewards and recognition program.

With 70 percent of U.S. workers not engaged at work, it is imperative for businesses to focus on employee engagement; and kicking off an employee recognition program is the logical first step. Through recognition, employees will feel more appreciated and, in return, be more productive. 77 percent of employees even stated they would work harder if they felt better recognized. As the Cornell report states, “What was once a nice-to-have practice is becoming a driver for improving employee engagement.”

To learn more about how your human resources department can establish a successful employee recognition program, download our 2016 Buyer’s Guide to Social Recognition.

Download Guide Red CTA Button

 

New Hires Engaged Employees

Turning New Hires into Engaged Employees – 3 Quick Tips for Success

Studies on turnover estimate that when an employee leaves a company it can cost the organization between 30 to 250 percent of that person’s annual salary due to factors like loss of productivity and other associated replacement costs. BambooHR shared its research on turnover with the Society for Human Resource Management, saying the average company is losing one-sixth of its new hires in the first six months. 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.

1. Promote affiliation with people from the start

The BambooHR study found the reasons new hires leave so soon included the expected, like lacking in clear guidelines on responsibilities and wanting better training, as well as some less intuitive factors. For instance, 17% said a friendly smile or a helpful co-worker would have made the difference between staying and going, and 12% wanted to be “recognized for their unique contributions.” Employees today, especially millennials, like to connect and collaborate, and that is especially true of millennials, yet the Aberdeen Group found that only 32% of organizations provide opportunities for peer networking. This represents a clear missed opportunity and one that can be easily remedied with a mentoring or “buddy” program. Conclusion: Providing early opportunities for peer networking and social recognition are critical to retention.

2. Look beyond money to drive desired behaviors

According to a frequently cited Kepner Tregoe study, 40% of employees felt that that increased salaries and financial rewards were ineffective in reducing turnover. Employee behaviors today are driven less by financial incentive and more by aligning their personal values with company goals in order to endow their work with a greater sense of meaning. Meeting these seemingly less-tangible needs can be accomplished through a formal recognition and rewards program, along with frequent manager feedback and opportunities to connect with new team members. Conclusion: Aligning employees’ personal values with company goals through recognition programs and frequent feedback is more likely to drive successful behavior.

3. Develop an onboarding system that engages quickly

Do you think of employee recognition as something only for employees who have been with the company for some time? More and more leading organizations are realizing that optimizing the workplace for employee retention requires integrating new employees into their recognition programs right from the start. By encouraging participation in an organization’s recognition program from the outset, employers can insure that new hires embrace and contribute to the company’s culture of recognition. To do this, employers can build training on the company’s rewards and recognition platform into employee onboarding programs and by not waiting until the employee has been with the company for an extended period before recognizing desired behaviors.

Ideas for early recognitions include recognizing new hires for how quickly they get up to speed on their new job responsibilities, how well they are connecting with their new co-workers, or how frequently they participate in culture-building activities. In order to reinforce a culture of recognition and achieve ongoing employee engagement as a result, recognitions should be frequent, meaningful and tied to company values. In fact, Gallup recommends at least every seven days. Conclusion: Engage employees and integrate them into the company’s culture of recognition from day one through recognitions given early and often.

New hires are more likely to decide to stay with your organization when they feel appreciated and welcomed by their peers. Millennials especially, projected to make up more than 50% of the workforce by 2020, embrace peer networking and social recognition. Setting up new hires for success through early participation in a company’s culture of recognition is good for employees and good for the organization.

Learn how to build a culture of recognition by downloading The Case for Employee Recognition Ebook.

ebook CTA Blog Button

 

Case for Employee Recognition

Why Employee Recognition Matters

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.

So, how do you start building your case for an employee recognition strategy? Start with The Case for Employee Recognition E-Book – an all-in-one guide that highlights everything you need to know about employee recognition. It details where the modern-day workplace is heading, why employee recognition is invaluable for businesses, and ultimately how to secure senior management buy-in. Below are some key takeaways from The Case for Employee Recognition E-Book that every HR professional should be aware of:

The ever-changing workplace

The workplace is constantly evolving and it’s important to be aware of where it’s heading. Organizations are no longer hierarchical and top down, but instead collaborative and bottom up. Baby boomers are retiring faster than young workers can replace them, intensifying the war for top talent and putting the ball in the millennials’ court. By 2018, it’s expected that millennials will make up more than 50% of the workforce.

Case for Recognition Gen Y Chart

The Case for Employee Recognition E-Book

Why employee recognition is a need, not a want

It’s simple: employee recognition positively impacts employee engagement and drives business success. According to Gallup 80 percent of employees said recognition is a strong motivator of work performance and 70 percent said they would work harder with continuous recognition. With $8 billion in assets and 260,000 customers, Meridian Credit Union saw a measurable, positive impact after implementing a rewards and recognition program.

“Analyzing the impact of engagement by comparing the top and bottom quartile of engaged employees showed that each highly engaged employee (top quartile) was responsible for over $2 million in growth, while each of the least engaged employee (bottom quartile) were responsible for $1.29 million.” – In regards to Meridian Credit Union, The Case for Employee Recognition E-Book

How to secure senior management buy-in

Hopefully now it’s clear that both your business and employees can benefit from employee recognition. But how can you get senior management on board? Start with the data. Numbers don’t lie and leaders will pay attention when you present them with ROI numbers for engaged workplaces, its impact on financial performance, and how recognition is a key driver of both. All this valuable data and more is presented in our new eBook: The Case for Employee Recognition.

Learn how employee recognition promotes engagement, creates an infectious work culture that retains top talent, and improves overall customer satisfaction by downloading The Case for Employee Recognition E-Book.

Download EBook Red CTA Button

 

 

About the Author
Kellie WongKellie Wong is the Social Media & Blog Manager for Achievers. She manages Achievers’ social media presence and The Engage Blog, including the editorial calendars for both. In addition to writing blog content for The Engage Blog, she also manages and maintains relationships with 20+ guest blog contributors. Connect with Kellie on LinkedIn.

 

Learning and Development Programs

How to Leverage Learning and Development to Improve Employee Engagement

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? Getting the answer wrong could be costly. According to Sh!ft, the total loss to a business from ineffective training can add up to $13.5 million per year per 1,000 employees. The key is to stop wasting money on ineffective training programs and start approaching learning and development initiatives with a new, creative outlook designed to boost employee engagement.

Training Magazine recently featured an article providing a behind-the-scenes look at leading tech companies that are stepping up their learning and development opportunities to successfully engage employees. Following, we have pulled a few highlights from the article to help you gain some inspiration for your business:

Adobe’s focus on quality content

Adobe focuses on learning and development opportunities through its Learning@Adobe program. With the use of their own product, Adobe Connect, and other resources, they are able to offer a wide portfolio of e-learning tools. For Adobe, it’s all about the quality of content, and we can understand why:

“Adobe gets the content right—its 60-minute virtual Adobe Connect labs consistently receive net promoter scores above 90 percent.” – Training Magazine

Facebook’s learning and development package

Mike Welsh, Learning and Development Partner and People Engineer at Facebook, shared, “Facebook’s key learning and development objectives are to promote respect and foster a culture of continual learning.” So how does Facebook accomplish this? Through a number of innovative programs. First, the company focuses on personalizing the experience for employees with various specified tracks and on-demand classes. Next, Facebook provides an Engage Coaching Program that enables new managers to have one-on-one time with an executive as a mentor. Together, they work on their people management skills. Finally, Facebook’s FLiP (Facebook Leadership in Practice) program is built for peers and executive team members to provide rising leaders honest feedback.

Salesforce centers its attention on employee success

Salesforce focuses on employee success to drive customer success. In order to do this, Salesforce developed Trailhead, an interactive customer learning platform for in-house employee training. Trailhead also opens up one-on-one learning opportunities for managers and employees to discuss and track the progress of personal goals.

But Adobe, Facebook, and Salesforce are just three of many tech leaders that are effectively using and learning and development to drive employee engagement. Don’t lose sight of what’s important to your employees. According to Oxford Economics, 62% of executives say millennials will consider leaving their jobs due to lack of learning and development. Learn how to create an unbeatable learning and development program to retain your employees and keep them motivated.

What other ways can your business kick off an impactful learning and development program? Training Magazine shares five affordable ways for companies of any size to run a successful learning and development initiative:

  1. In-house mentorship and coaching
  2. Online education courses
  3. Gather employee feedback and test new ideas
  4. Train new managers to become inspirational leaders
  5. Value your employees like you value your customers

It’s been reported that three-fourths of employees that work for companies with financial performance that is significantly above average are moderately or highly engaged. Start engaging your employees with the right learning and development opportunities. By connecting employees to new learning and development resources, they can reach their full potential at work, feel driven to produce stronger results, and trust that their company cares about its employees’ success.

Learn More Red CTA Button

 

 

About the Author
Kellie WongKellie Wong is the Social Media and Blog Manager for Achievers. She manages Achievers’ social media presence and
The Engage Blog, including the editorial calendars for both. In addition to writing blog content for The Engage Blog, she also manages and maintains relationships with 20+ guest blog contributors and edits every piece of content that gets published. Connect with Kellie on LinkedIn.

 

HR Nightmares

10 Scary HR Stats That’ll Make You Howl This Halloween

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. When recruiting, ensure you’re hiring for both fit and skill.

#2 and #3: Dr. Jekyll or Mr. Hyde: Whose Resume Do You Have?

CareerBuilder reports that a whopping 58 percent of hiring managers or recruiters have dealt with resume falsifications, a number that grew during the recent recession. When you add that to SHRM’s HR analysts findings that most resumes are read for five minutes or less, you have a dastardly potion brewing. Spend time getting to know your candidates personally and thoroughly vet their backgrounds to ensure you’re getting the brilliant Dr. Jekyll — not the despicable Mr. Hyde.

#4: The Global Market Beckons, But Your Office May Be a Ghost Town

In 2014, a Deloitte HR analysis found that 48 percent of executives lacked confidence that their human resources department was capable of meeting global workforce demands. What are you doing in the face of globalization? Depending on the location of your employees and offices, you may have a lot of education and retraining to invest in.

#5: On Again, Off Again

Industry statistics and HR data shows that one in three new hires quits within the first six months. Why? Lack of training, failing to fit in, not enough teamwork. Remember that recruiting is only half the battle — ensure your structure is also set up to effectively retain new and old employees alike.

#6: Take Off the Mask: First Impressions Matter

Did you know that one-third of new employees decided within their first week of work whether they’ll be staying with an organization long-term? How do you welcome and onboard new employees? Ensure the first impressions you give are accurate and positive.

#7 and #8: Engaged and Happy Workforce or Disengaged Automatons?

Employee engagement has long been a key issue in workplace success, and recent data and analytics show that hasn’t changed. Nearly two-thirds of all employees are disengaged, and 70 percent are unhappy with their job — and that will show in their work and in your company’s success. You can never overestimate the value of a well-designed engagement strategy.

#9: Pulling a Disappearing Act

Are you ready for as many as two-thirds of your workforce to leave your organization within the next year? That’s how many employees the Kelly Global Workforce Index says will actively engage in a job hunt in a year or less. Again, preventing this requires a strong employee engagement strategy paired with an attractive total rewards package.

#10: The Changing Face of Your Workforce

About 10,000 baby boomers turn 65 every day – and millennials now represent the largest subset of America’s workforce. Are you ready – really ready for the shift your business will undergo as a result? Insight and data show that millennials expect to be compensated differently, engage differently and work differently. It’s time to brush up on your emojis and get down with Snapchat. Don’t be scared, but do prepared!

As we approach the end of the year, take these 10 scary HR stats into consideration when re-strategizing your employee engagement strategy. Don’t be kept in the dark by downloading The Greatness Gap: The State of Employee Disengagement White Paper.

Download White Paper Red CTA Button

 

 

Also, make sure to check out our cool infographic highlighting these 10 scary HR stats!

Download Infographic Red CTA Button

 

 

 

Millennial Employee Retention

How to retain millennial employees

While millennial employees are known for being “job hoppers,” this is an oversimplification that does not do justice to the ambition and hard work that they bring to the table. Your younger talent is the key to your organization’s future, so knowing how to retain them is essential. Use these tips to improve the employee retention rates among your millennial workforce:

  1. Offer a larger purpose

Younger workers want to feel that they are making a difference in the larger world. As you assemble the perks you offer, it’s important to go beyond merely material things like bonuses and health benefits (although those are important, too).

Provide the opportunity for your employees to engage in philanthropic activities that express the mission and values of your organization. Your younger workers will identify their own altruistic aspirations with those of your brand and are likelier to feel fulfilled in their position.

  1. Encourage innovative thinking

Young workers are eager to have a voice in shaping the company they join, and you can benefit from their efforts to improve your business process. Tap into this win-win proposition by following LinkedIn’s practice of having teams of employees pitch ideas to executives once each quarter.

Workers whose pitches are accepted have three months to work on their innovation. When millennials feel that their ambitions and ideas are respected, and that they have room to work on passion projects, they’ll be more engaged with the welfare of your business.

  1. Support flexible scheduling

Millennials care about meeting goals and accomplishing projects, not about clocking in and out on a rigid schedule. If your operations can be accomplished with a certain amount of remote work and flexible timing, your company will be much more attractive to young workers. You may find that one employee is most productive after midnight, while another prefers to show up every day at 7 a.m. Customized individual options are one of the key values that millennials are seeking in their workplace.

The millennial generation of workers has a lot to offer, but they are undeniably mobile: a Forbes study found that 91 percent of them expect to move on to a new job in less than three years. You can improve employee retention by understanding what young workers are looking for and making your company the place where they want to put down roots.

Managing Millennials

3 reasons you should let Millennials manage

Are you hesitant to put Millennials in managerial roles because of their youth and lack of experience? This hesitancy is certainly understandable. As an experienced professional manager, you’re well aware that years in the industry provide insights that no newcomer can automatically acquire. However, it turns out that your company can still benefit from the unique skills younger staff members can bring to leadership roles. Here are three reasons you should look for Millennials with characteristics of a good leader and give them a chance to shine.

Millennials are big on transparency

Younger managers can command loyalty from their direct reports by creating an atmosphere of transparency throughout the work environment. This openness extends from compensation to strategy and company process. With this outlook, Millennial managers will expect productivity to rely on the shared efforts of the group. When problems arise, they can sidestep resentment of their authority, drawing on the collective mind for solutions.

Millennials seek networks, not hierarchy

Training Magazine points out that young adults grew up in a networked social media environment, where they’re related to a web of connections rather than a chain of command. Freed from a preoccupation with preserving authority, they can easily solicit and accept feedback. This willingness to put mutual goals ahead of personal aggrandizement can foster an open exchange of ideas, increasing company-wide trust and leading to valuable innovation.

Millennials give more frequent feedback

Millennials don’t measure productivity in terms of hours at a desk, and they’re not usually fans of formal, scheduled performance reviews. Instead, they’ll use their emotional intelligence to stay connected with their staff, rewarding effort and productivity with frequent, informal expressions of appreciation.

Fast Company reports that Millennials are ready and eager to lead: 82 percent of workers in this age group express an interest in managing, compared with only 57 percent of employees of other ages. Chief Executive Magazine advises that up-and-coming young leaders can be groomed by whetting their curiosity and exposing them to new ideas, then personalizing their contribution and activating their inherent desire to do good in the world.

When you give your most talented young leaders a chance to step forward, and balance their innovative style with the insights of more experienced staff, you’re taking steps toward establishing a robust basis for transitioning your company well into the coming decades.

Hiring Millennials with Graduate Recruitment

4 things you need to understand before hiring a new college grad

These days, many companies are clamoring for college grads; each year brings a fresh pool of talent for you to tap. The great news about graduates is that if they’re intelligent and adaptable, they can work in almost any sector of your business. But what’s the best way to compete against all the other organizations trying to recruit the same candidates?

Keep in mind that new graduate recruitment and hiring millennials requires a different approach than recruiting seasoned professionals.

Demonstrate your company’s mission and meaning

Most college students want to feel like they’re a part of something meaningful and something that has a positive impact on the world. If you want to attract this growth-oriented group, you need to demonstrate how your company makes a difference in your industry, your community, or the world.

If your company offers unique values, culture, or growth opportunities, don’t be afraid to highlight them. Are you performing work that has a big impact on society? Do you have a creative and innovative atmosphere in your workplace? Do you emphasize a collaborative team-based environment? Illustrate why your company is unique and innovative, and you’ll attract innovative young employees.

Understand where grads are coming from

Candidates that have just graduated present a much different recruiting challenge than other candidates. Most of them don’t have experience with the interview process, contract negotiations, and other professional norms.

Understand that recent grads are still a work in progress and that training and guidance are necessary at the start to build on the talents your candidates naturally possess. This will ensure your investment in a recent grad pays off with big dividends down the road.

Use the right recruiting tactics

Millennials have grown up almost entirely in the digital age, which means they are used to constant communication, using digital tools to achieve their goals, and plenty of flexibility. You can showcase your company’s strengths in these areas by using the following tactics:

  • Set up a peer interview to allow a recent grad to connect with other young employees in your organization who can answer their questions.
  • Explain how a grad’s skills will help a company or organization succeed. This will help a millennial candidate gain a clear vision of how they will gel with your company’s culture.
  • Consider offering flexible job hours or the future opportunity for remote work for certain grads that can complete the required tasks on their own schedules.

Retain employees the right way

After you recruit a millennial, it’s important to keep them engaged and satisfied with their job. Providing millennials with regular feedback on their job performance and recognizing them for the work they put in is key. That means routine employee engagement surveys are vital to keeping millennials happy.

It’s also necessary for you to reward millennials that are performing well. Recent grads aren’t the types who will put in years of work to gain seniority, and they will often change companies in pursuit of their ambitions. If you can demonstrate that advancement is based on results, you’ll be in a much better position to retain millennial employees.

Baby Boomers and Millennials

Boomers’ Love/Loathe Relationship with Millennials and How to Overcome the Generational Divide

You’ve heard the stereotypes about Millennials: lacking attention span, overdependent on technology, self-centered, ignorant of older generations, entitled – and so on.

Not only are these statements inaccurate, but these myths also stem from the difference between how Millennials work versus how Boomers work. In a recent Forbes article, Boomers’ Love/Loathe Relationship With Millennials, Eisenberg interviews Stiller Rikleen, executive-in-residence at the Boston College Center For Work & Family and president of the Rikleen Institute for Strategic Leadership, about the recent survey she conducted among 1000 Millennials.

Rikleen’s findings were consistent with the outcome of the Class of 2014 survey that ConnectEDU and Achievers partnered on to understand exactly what the next generation of top talent is looking for from their future organizations. The verdict is that many of the stigmas that Boomers associate with Millennials are actually not negative; they are simply representative of an evolving workplace.

Here are a few (seemingly) negative stigmas about Millennials that Stiller Rikleen addresses in her interview, along with tactical takeaways for HR professionals and employers to apply in the workplace to bridge the style gap between Boomers and Millennials:

Millennials demand constant feedback.
Are Millennials looking for more frequent feedback? Absolutely. Is this a bad thing? Absolutely not. While older generations have perceived this need for constant feedback to only be self-fulfilling for Millennials, constant feedback also drives business results. Yes, Millennials are eager to use frequent feedback to get ahead, but recognizing Millennials for great performance and making recommendations for improvement also keeps them engaged and the business booming.

Boomers are resistant to give feedback.
In the historical workplace, the only appropriate and designated time to give feedback was in an annual performance review. Saying that Boomers are resistant to give feedback doesn’t describe the full picture. In fact, Boomers come from a work generation where structured feedback was the only type of feedback that was delivered to their teams. With Millennials now in the workplace reporting to Boomers, Boomers should be conscious to share timely feedback with their team members. This can occur in one-on-one meeting, by embracing a “coachable moment,” or even during a quick coffee break in the kitchen. Feedback drives better results for employees, managers, and the company overall.

There is a disconnect between what Millennials value and what Boomers think they value.
In the traditional workplace, it was common for employees to stay with companies for their entire careers and get recognized and rewarded for their length of tenure. But in the modern workplace, new employees will work with many different companies and want to be recognized and rewarded for their contributions, regardless of how long they’ve been there. Instead of recognizing Millennials with the predetermined rewards Boomers have been accustomed to, give Millennials the freedom to set goals and choose their own rewards for big achievements. Then, use day-to-day recognitions for the wins in between.

Learn more about what the Class of 2014 wants from their future employers and how your business can bridge the gap between Boomers and Millennials.

Download our Class of 2014 whitepaper.

Class of 2014: Your Next Generation of Top Talent

 

Blog post originally written by Stephanie White, edited and published by Julia Bersin.

The Class of 2013: What the findings mean for employment branding and Millennial recruiting

gen_y
Guest Post by Kristen Dooley

On the heels of each comprehensive “Class of” survey with Achievers, one of the most common questions we receive here at ConnectEDU is “What does this mean for recruiters?” Millennials are poised to become half of the workforce in the United States and companies are increasingly interested in recruiting the right members of each graduating cohort. Naturally, we’re attuned to what those new graduates are looking for, and this year’s survey of 10,000 students is a useful tool for extrapolating effective tactics for recruiting from and branding for this group.

Read more →

[White paper] Class of 2013: Attract and retain tomorrow’s top talent

hr_trends_and_analyst_findingsIt’s that special time of year where graduation speeches top YouTube and employers gear up for a new wave of applicants. And time for the annual Class of 2013 survey from Achievers and ConnectEDU!

We surveyed over 10,000 recent graduates this year about what they expect from future employers and what they are bringing to the table. Overall, many of the results have been the same year over year, even in surprising areas like expected tenure. Twenty percent of respondents still plan to stay with their first company for ten years or more. This trend has held steady despite the Bureau of Labor Statistics telling us average tenure has held at 1.5 years.

Read more →

[White paper] Unleash Employee Success™: Use recognition to engage Gen X and Millennial employees

recognitionTruly forward-thinking companies have made the turn from seeing generational changes as hurdles. Instead, they now see the demographic shifts as opportunities to unleash a new energy within the workforce. According to the U.S. Bureau of Labor Statistics, Generations X and Millennials—the two youngest generations in the workforce—will constitute 64 percent of the workforce by 2020. By the year 2025, three out of four workers globally will be part of the Millennial generation.1

In order to get the most from your employees and motivate the team to perform at their peak, you must understand the perspectives of every segment of the workforce, as well as broader workplace trends. Create an effective culture of recognition by embracing change, both in your workforce and in the market overall.

Read more →

5 must-reads for the in-the-know HR Professional: Week of May 23rd, 2013

industry_headlinesAs graduations are commencing and the new workforce is emerging we all seem to have the Gen Y’s and Milliennials on the brain. The collection of articles for this week highlights some unique views in regards to the current Gen Y workforce and the impact the Millennial new grad will have within your organizations. So put on your alma mater colors and enjoy these grad-themed posts!

Read more →

Talking about my generation: Engaging millennials in the workplace

employee_engagementMillennials are stressed but optimistic, a new study from the American Psychological Association says. As a millennial myself, this isn’t really news. And I don’t say that because I’m part of the self-centered generation that has convinced itself we are the most important segment of the population. I’m just not surprised that 18-33 year olds report feeling stressed slightly more (5.4 on a scale of 10) than the national average (4.9). Young adults are now—and have always been—starting their careers, living on their own for the first time, getting married, and having children. We’re facing some stress inducing life changes we haven’t learned to deal with yet. I trust you did, too.

Read more →

How Gen Y is dictating the workforce

A multitude of stories have recently published in a variety of publications about the state of the Gen Y worker. One particularly interesting article came from The Wall Street Journal titled, “More Firms Bow to Generation Y’s Demands.”

In the article, Leslie Kwoh discusses how employers say concessions are necessary to retain Gen Y workers. Many companies face retention issues with Gen Y, and they are discovering and trying to adapt to the needs and expectations of this younger workforce. According to estimates from the U.S. Bureau of Labor Statistics, Gen Y will comprise more than 40% of the U.S. workforce by 2020. Moreover, companies need to keep their employee pipelines full as baby boomers enter retirement. So, companies need to adapt quickly to retain the best Gen Y talent and inspire their future leaders and revenue generators.

Read more →

Connect your employees for business success

“Humans are social by nature, and technology is now amplifying that tendency, turning us into an always-connected, interactive network of advice, feedback, information, and gossip. For thousands of years we only interacted with others face to face, but we now do it by phone, email, status update, online chat, SMS, Skype, or FaceTime.”

If your company does not provide consistent real time feedback you will alienate the most technically inclined generations, Gen X, Gen Y and the Millennials. Provide your employees with an online rewards and recognition program where they can get real time feedback from their managers and their colleagues.

Forbes:http://www.fastcompany.com/1839425/so-you-think-your-customers-trust-you-5-reasons-to-think-again

Why “Employee of the Month” is a wasted effort

Remember when you were a kid and how much you hated it when your parents used the expression “because I said so?” On many occasions, they used it to justify the way something has always been done. While this may be the easy way to do things, it’s not always the most effective way to do things. Everything evolves, and suddenly one way of doing something doesn’t make sense or apply anymore.

Read more →

What the class of 2012 can teach us about employee engagement

What’s the best way to attract top talent from the Class of 2012? In order to successfully recruit, retain, and inspire these Millennials, you should focus your engagement strategy based on their motivations and desire for choice.

Read more →

How to write compelling job descriptions to recruit Millenials

Do you ever get tired of reading mundane job descriptions? The inspiration for today’s post comes from an article by Software Advice blogger Jennifer King titled Six Ways to Sell a Millennial With Your Job Description, and it reaffirms the importance for employers to effectively “market” themselves to Millennials. Millennials are an organization’s future revenue generators, and employers should take proactive measures to recruit them before the competition sweeps them up. However, Millennials are a unique generation, so employers need to tailor their recruiting strategies to what attracts and motivates them.

Read more →

Choices, choices, choices: How options can increase employee retention

“With three generations of employees in the workforce companies are managing their most diverse workforce ever. Uniform policies, benefits, and compensation won’t work for everyone anymore. We live in a society full of choices and that’s what employees, especially Gen X and Gen Y, respond well to.  Make sure you empower your employees to choose their own rewards for a job well done-rewards that  that are meaningful to them.“- HRMA  http://www.bchrma.org/pdf/news/2011/release-yearinreview-111219.pdf

Understanding Millennials and the needs of the future workforce

Millennials, Gen Y and Generation Me. These are just a few ways that Millennials have been described over the years. Do you wish you had some tips for understanding the needs of the future workforce? Many employers view the Millennial generation as an enigma, but you can’t afford to be uneducated about Millennials, as they are the future employees and leaders. It is estimated that by 2025, 75% of the workforce will be Millennials. The Class of 2012 will be graduating in a few short months, and it is important for employers to understand how to recruit, retain and inspire them. So how do you get the inside scoop about Millennials and what they want?

Read more →

Evolve old workplace traditions to engage employees

“Although the workforce has evolved and is now consumed by over 50% of Millennial employees, companies’ recognition practices have remained the same.  Retaining talent and driving results have become two obstacles that employers constantly struggle to overcome.  To boost engagement, drive performance, and get results, employers must move beyond Traditional Years of Service awards and implement a culture of everyday feedback.”

Rewarding a cross-generational workforce

Hi A,

How can you target different generations with recognition?  We’re finding in our workplace, with rewards and recognition, that what motivates a baby boomer may not motivate a Gen X’er or Millennial and so forth.  Thoughts?

Sincerely,
Ageless Concern

Read more →