by admin | Mar 31, 2022 | Hot Topics, Human Resources
You’ve probably been hearing about the Great Resignation (or however you want to describe it) for months now. Even if you’re not dealing directly with increased turnover, your employees know they have options. Their friends, family, and people they know peripherally or on social media have made the leap and are gleefully announcing it on LinkedIn.
Some job-hoppers may be emboldened by the movement to quit good jobs in the hope of something better—better pay, more flexibility, or more opportunities for advancement. Some have simply been pushed to the brink by dead-end jobs, lousy company culture, or ineffective managers. Others have given up trying to “have it all” and left the workforce completely.
But what if employers could capitalize on this current “I quit” mood? If people are leaving jobs for something better, offer something better! Here are some ideas to create an engaged and committed workforce:
1. Understand and Be Responsive to Employee Needs, Motivations, and Priorities
A paycheck may be the reason everyone has a job in the first place, but it’s not the only reason people choose to work or decide to work for one employer over another. Your employees stick with you because there’s something in it for them besides the money. The job is useful to them. Knowing why it’s useful enables you to keep employees satisfied and, better yet, make their jobs even more appealing.
2. Prioritize Employee Development
A work environment in which people gain knowledge, learn new skills, and advance in their careers speaks more clearly and loudly than any marketing message can. People like working where they can grow and develop. According to a LinkedIn report, companies “that excel at internal mobility are able to retain employees nearly twice as long as companies that struggle with it.” And a better trained workforce is also a more productive and profitable workforce!
3. Reward Success
In fact, reward anything you want to see more of. Whether large or small, the rewards have to be meaningful. Ideally, figure out what type of reward speaks to each employee. For some, acknowledgment in a company meeting will make their heart sing. For others, receiving a token of your appreciation, such as a coffee gift card, will be more meaningful.
4. Allow for a Healthy Work-Life Balance
Flexibility is a big selling point for employees looking for better balance between work and life. Your employees have other commitments they need to attend to. Some are caring for young children or other family members while navigating daycare and school closures or multiple appointments. Give employees the time to see to those commitments and have a life outside of work, and you’ll get more from them when they’re on the job. Options may include remote or hybrid work, paid time off, flex hours, four-day workweeks, alternative schedules, and reducing workload. Remember, however, that policies are only as good as the practices around them. Ensure that employees don’t need to jump through hoops to request time off. Remind managers to be responsive to requests for time off and on the look out for signs that employees are feeling overwhelmed.
5. Conduct “Stay Interviews”
Don’t wait until people are leaving to investigate what could have inclined them to stay. Talk to employees now about what’s going well, what pain points they’re experiencing, and what could be done to take the relationship to the next level. Stay interviews enable you to address problems and unfulfilled wishes before they drive people out the door.
By Lisa DeShantz-Cook
Originally posted on Mineral
by admin | Jan 19, 2022 | Human Resources
Human Resources leaders are always being asked to look into a crystal ball and predict the future. You probably don’t have any super powers. But your Spidey sense might be telling you that a few trends that are surfacing are likely to stick around through the new year, 2022.
The coronavirus pandemic has changed your work and life. Slowly, things are improving and you’re getting your organization (not to mention yourself) used to the new normal. While you’re settling in (and still having an occasional panic attack, no judgment), you might want to pay special attention to what’s coming next.
Transformation of Human Resources
There’s no doubt that the biggest story of 2021, the Great Resignation, will spill over into 2022. When the pandemic began in 2020, HR leaders suddenly had a seat at the table. You were charged with being the light as people navigated safety protocol and transitioned to remote teams in the darkness. Your stature only continued to grow.
Then, people started quitting jobs in droves. In 2021, you figured out why this was happening. People were tired of low wages, lack of child care and healthcare, and an overall malaise about the kind of work they were doing. Some renamed the era the Great Reshuffling because people were seeking a better fit in their work and more work-life balance. In 2022, you will be determining the best ways to recruit and retain top talent. These strategies won’t be as basic they once were. It will definitely be a case of out with the old and in with the new.
Four-Day Workweek
In the wake of the pandemic, employees learned how to be ultra-productive at home. They used the extra time that remote work afforded (without a commute) to enjoy their families, pursue their hobbies, and get in a little me time. People don’t want to give that up. Employees have the leverage now, and they are asking for more flexibility in their schedules. While that’s already happening, some are talking about taking flexibility even further.
All this prompted discussions about the four-day workweek, a concept that has come up before. The debate will continue on into 2022, and some companies may adapt to this schedule to woo recruits and retain employees during what continues to be an historic labor shortage.
Mental Health and Wellness
The pandemic revealed that mental health and wellness is important to everyone. No one is immune to stress, especially during uncertain times. Businesses are recognizing this fact and providing employees with tools for relieving stress, addressing mental illnesses, and preventing burnout. Some companies are offering more flexibility, but they also provide programs. Maybe the employer offers a yoga class or meditation time. Some provide mental health days as part of paid time off (PTO). Employers are going to get more creative and pay more attention to the mental health of their employees moving forward. This will only become a bigger part of HR leadership’s responsibilities.
Diversity, Equity, and Inclusion (DEI)
At the height of the pandemic, the world watched the Black Lives Matter protests unfold before their eyes. Many demanded that businesses take a stand and show their support for the movement. By putting the spotlight on injustices related to policing, people began recognizing the lack of representation in leadership and management and even at junior levels.
While diversity had been on the minds of HR leaders for some time already, DEI strategies have risen in terms of priority. In 2022, you can expect DEI to remain at the forefront of recruiting and retention strategies.
The Possibility of More Variants
The Omicron variant swept the nation during the holiday season, and it upended plans for a return to the office for many employers. While some traditionalists are holding out for in-office-only workers and some occupations require going to a physical location to get the job done, the reality is that most companies will have to keep some level of remote work as an option because of the various COVID variants that might surface. Until the pandemic turns into an endemic, some companies will be remote only. Others will remain hybrid workplaces.
Coming up with sufficient strategies on how to collaborate, forge bonds, conduct performance measures, and attain desired results is a must. Of course, there are dreaded conversations to be had about masking up and getting vaccinated. Take a holistic approach, make sure the strategy matches your values, and consider the risks associated with whatever decisions you make.
Generational Differences
For the first time in history, four generations (Boomers, Generation X, Millennials, and Gen Z) are in the workforce at the same time. The differences among the generations – from pop culture references to tech savvy – pop up at the water cooler on a daily basis. The reality is that Millennials and Gen Z hold most of the power. The Boomers are retiring and Gen Xers are the smallest group and often get ignored or forgotten.
In any case, many HR experts focused on the generational differences that influence the success of organizations. The pandemic really brought out some of the profound disagreements, like whether to permit working from home in any city you choose or pushing or a return to the office. Gen Z reportedly delegates to their older superiors, while Millennials take a more middle-of-the-road and even practical approach as they gain esteem and rise to power. These generational gaps will continue into 2022, and you might notice more differences. Certainly, HR leaders are going to be working hard to unite all these groups. After all, DEI efforts should include age variations, too.
By Francesca Di Meglio
Originally posted on HR Exchange Network
by admin | Dec 26, 2021 | Employee Benefits
Employee benefits are a major bargaining chip for companies looking to attract talent. The problem is healthcare costs are skyrocketing, and it’s difficult for employers to offer the same level of coverage. Higher costs are either resulting in less coverage or smaller wages for employees.
Find out what’s happening with healthcare and recruitment, and get tips on what companies can do to stay competitive:
The Rising Costs of Healthcare
It’s no secret that healthcare costs have been increasing for years. According to the research, it will continue to increase. One study from the Peterson Center on Healthcare and the Kaiser Family Foundation (KFF) found that $3.8 trillion—or $11,582 per person— was spent on healthcare in 2019. By 2028, individual Americans will be spending around $18,000 on healthcare.
While the issue is complex, experts agree that the major factors in this spike include an aging population, a rise in chronic disease, and higher prices for medical services and drugs. Costs are rising so rapidly that insurers are increasing deductibles, not covering certain services, or applying caps. As a result, healthcare packages are playing a larger role when chosen candidates are deciding whether to accept a new job.
How Important Are Competitive Healthcare Packages?
As healthcare costs continue to rise, a new debate has emerged. Should employers or employees take more responsibility for covering healthcare?
One of two things are happening with workplace healthcare. Either employees are leaving their current position for a job with better healthcare coverage or their annual salary increases are being eaten up by higher healthcare premiums being passed on to employees.
A recent survey found that 42% of employees are thinking about leaving their current position because of inadequate benefits.
“The rising price of health care costs families thousands of dollars a year in foregone wages, out-of-pocket costs, and increased taxes,” said Josh Bivens, research director at the Economic Policy Institute, in an interview with MarketWatch.
He said the effect may not be apparent, but it’s one of the main reasons wages have remained stagnant. If you spot a number of paradoxes here, then you aren’t alone. Lower salaries won’t attract top talent, and passing on the costs of healthcare to current employees won’t retain them. This quandary for employers is compounded by the current labor shortage, which is often referred to as the Great Resignation.
What Can Companies Do?
It’s clear that healthcare is important to job candidates. To attract new talent, companies should revolutionize the way they treat wellness in the workplace.
Promoting health and wellness initiatives not only improves employee morale and decreases absenteeism, but a healthier workforce is less likely to use their insurance. This may eventually equate to lower premiums.
Another easy way to curb costs is by communicating with employees about what plans are available. Health insurance is often a complex topic, and some employees may accidentally choose the wrong plan because they don’t understand the difference.
Proactively highlighting available services can assist employees before a medical issue spins out of control. Mental health services are an example of this. Letting employees know about Employee Assistance Programs or low-cost telehealth options could offer help before a more serious intervention is needed.
There are many options available for companies to make their benefit packages more competitive to attract top talent. Some companies are considering Health Savings Accounts or HSAs that help employees pay medical bills while enrolled in cheaper, high deductible plans.
Direct Primary Care is another technique being used by companies to control costs. DPC allows employees to pay fixed monthly, quarterly, or annual fees to cover primary care, consultations, care coordination, and comprehensive care management. Not only does DPC result in cost-savings, but it fosters a better relationship between patient and doctor.
Leveraging Your Benefits
Even though healthcare costs continue to rise, it’s possible for companies to control costs by promoting wellness initiatives and helping employees select the best benefit package for their needs.
Being proactive with healthcare and making smart financial decisions can keep healthcare prices reasonable, and ensure that companies will be able to attract talent.
By Mckenzie Cassidy
Orginally posted on HR Exchange Network
by admin | Aug 12, 2020 | Human Resources, Work From Home
The future of work is now. You’ve probably heard that being said since the onset of COVID-19 and the growth of remote work. Well, it’s true and as the nature of how work gets done changes, so too does the way HR’s function plays out.
In part 1, we took a look at current trends, spoke to experts and focused on the learning and development arena when it comes to the future of work. In part 2, we’ll dive into other HR specialties and consider how they are changing as well.
Talent Acquisition
In addition to talent acquisition, there are other areas that need some transformation. That includes human resources itself.
“It’s absolutely critical to put in the time to learn new things, especially when it comes to HR Technology. Don’t let fear of the unknown, or a lack of understanding about technology scare you away,” Tracie Sponenberg, Chief People Officer of the Granite Group said.
And the statistics are certainly on her side. According to a report by Harris Interactive and Eightfold.ai, those companies adopting HR are 19% more effective in reducing the time HR spends on administrative tasks.
While we’ve seen continued changes to the profession as a result of technology, we’ve also seen a real need for HR practitioners to focus on employees at the same time. HR automation/robotic process automation (RPA) provides the ability for the focus to be shared and making sure goals are met. Some of those administrative tasks include benefits management, form processing and even employee questions related to policies and procedures. Chat bots are helpful in this particular instance.
Additionally, automation with the help of provided data can reduce pain points and drive change across the business. For instance, in a manual process, there is some level of human error that can happen. While errors in automation do occur, it is at a much lower rate. Automation can be used to automate forms and workflows that avoid printing, signing and scanning. It can also automate the dissemination of those documents to ensure they are delivered to the appropriate people. And, it can also help in pulling data, filling out systems and databases and elevating manual data entry.
“If HR takes the time to automate the routine day-to-day tasks and ‘paperwork,’ we can be free to really dig into strategy and people development – coaching, training and developing our team members to be prepared for the future of work – whatever that may mean to our individual industries and companies,” Sponenberg said.
Remote Work
In addition to being prepared for the future of work as Sponenberg said, HR must keep an eye on where work is going to be happening. There aren’t many places where it’s happening in office buildings anymore. It’s happening in home offices and public spaces that can accommodate social distancing. It’s likely to stay that way as more and more workers have embraced flexible scheduling and remote work.
Remote work has quickly become a reality for many different industries, but that trend was already occurring before the pandemic. There had already been a 173% increase in people working remotely since 2005. Additionally, 75% of workers say they’re more productive at home.
Some of the reasons given include fewer distractions and less commuting. This presents a fair amount of challenge. A big one centers on engagement. Remote workers aren’t that much different from brick-and-mortar employees and the concerns are similar. Remote workers, just like those sitting in the office, are at risk for leaving the organization within the first year and even leaving to pursue other opportunities to advance. That means they need just as much attention when it comes to engagement. In some instances, more attention is necessary.
Stemming the Tide
To solve issues related to the retention of remote workers, first think about setting expectations. The whole point of remote work is not having to go into the office. As such flexible work scheduling is typically a piece of the overall remote working strategy. To be more to the point – workers probably aren’t working a 9-to-5 shift if they’re off-site. That being said, managers can set particular expectations such as times the employee is expected to be “on the clock.” Some people refer to these as “busy hours” or “office hours.” It’s during this time remote workers should be expected to be prompt in their responses to emails and phone calls as well as be available to collaborate with the team.
Secondly, these workers must be included and that requires attention-to-detail and technology. If a team is meeting at the office to discuss strategy or anything for that matter, remote workers should be allowed to participate. They should actually be expected to do so. With tools such as Zoom and Skype available, there’s no reason they should not be included in the conversation.
There is some real concern remote workers, in addition to allegedly working less, aren’t nearly as productive as their in office counterparts. Again, that’s a misconception. Look to CTrip, China’s largest travel agency. A professor from Stanford studied whether or not remote work was “beneficial or harmful for productivity.” It took two years to complete the study and what the professor found is a profound increase in productivity for a group of remote workers over their in-office counterparts.
It wasn’t all “sunshine and rainbows”, however. Those remote workers did report an increase in feeling lonely and many reported they didn’t want to work from home all the time. In the end, the recommendation was to create a hybrid of sorts; one that balanced working from home and in the office.
Words of Advice
There is no stopping the future of work. In fact, as this report has explained it’s already here. While it is a concern for every HR professional working today and those who are about to enter the practice, there are words of encouragement to be shared.
By Mason Stevenson
Originally posted on hrexchangenetwork.com
