ReportWire

Tag: Employee Retention

  • Are You Guilty of Poor Onboarding? The Consequences Are Worse Than You Think. | Entrepreneur

    Are You Guilty of Poor Onboarding? The Consequences Are Worse Than You Think. | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Starting a new job is like diving into a swimming pool. A refreshing and invigorating dive can make for a memorable experience, while a belly flop can leave you in pain and feeling embarrassed. The onboarding process is the dive, and just like a dive, when done poorly, it can leave lasting consequences on new hires, especially remote and hybrid workers. A recent survey by Paychex reveals the effects of poor onboarding on new employees and their inclination to stick around.

    First impressions matter: The onboarding experience

    Picture this: You’re attending a party, and the host greets you with a warm welcome, introduces you to the guests, and offers you a drink. You’d feel comfortable and well-received, right? Onboarding should be like that — a seamless, positive and engaging experience. But the reality is different for many employees.

    Only 52% of new hires feel satisfied with their onboarding experience, with 32% finding it confusing and 22% disorganized. Remote workers fare worse, with 36% of them finding the process baffling. It’s like trying to assemble an IKEA furniture without the instructions.

    Interestingly, 54% of finance industry employees are most likely to be satisfied with their onboarding experience, compared to only 31% of employees in the business industry. Generationally, Gen Zers are the happiest (62%) while Gen Xers lag behind (43%). This generational gap is a crucial factor for HR departments to consider while designing their onboarding processes.

    Related: 3 Steps for Onboarding Remote and In-Person Employees That Make Your Hybrid Team More Collaborative

    Onboarding gone wrong: The fallout

    A poor onboarding experience is like an ill-fitting shoe; it leaves employees feeling uncomfortable and dejected. The most significant impact is that 52% of new hires feel undertrained, with small company employees (66%) and remote workers (63%) suffering the most. It’s like trying to win a marathon with flip-flops.

    The generational factor also plays a role, with 58% of Gen X feeling undertrained compared to 45% of millennials. Addressing these gaps is vital for companies to retain their workforce and maintain productivity.

    Pushing new hires out the door

    An undertrained and disoriented new hire is like a fish out of water — they’ll flop around, gasping for air, and looking for an escape. In this case, escape means quitting. A staggering 50% of newly hired employees plan to leave their job soon, skyrocketing to 80% for those feeling undertrained due to poor onboarding. On the flip side, only 7% of well-trained employees plan to leave soon.

    Size does matter, as small-company employees are more likely to quit (59%) compared to those in large companies (38%). Surprisingly, despite feeling satisfied with their onboarding, Gen Zers are the most likely to plan a swift exit (58%). It seems that onboarding is a crucial make-or-break experience for new hires, particularly for older generations.

    Re-onboarding is like giving your employees a second chance at a first impression. By taking all employees through the onboarding process again, you can re-engage and revitalize your team. The results are impressive: employees become more focused (47%), energized (42%), productive (34%), and efficient (33%). Plus, re-onboarding increases employee retention by a whopping 43%.

    Case studies of poor onboarding

    I’ve seen a number of case studies of poor onboarding harming companies. For example, a middle-market SaaS firm experienced high turnover rates among its remote and hybrid employees due to a poorly executed onboarding process. New hires were not provided with clear guidelines, expectations or adequate training. As a result, employees felt undertrained and undervalued, leading to a lack of engagement and commitment to the organization. Within six months, the company saw a 60% turnover rate among remote and hybrid employees, leading to significant recruitment and training costs.

    A large marketing agency encountered growth challenges due to its poor onboarding process for remote and hybrid workers. New employees were not equipped with the necessary skills and knowledge to succeed in their roles, leading to subpar work quality and missed deadlines. The company’s reputation suffered as clients became dissatisfied with the level of service provided. The agency struggled to attract new clients and retain existing ones, which hindered its growth and expansion plans.

    A mid-sized financial services firm faced compliance issues due to poor onboarding of its remote and hybrid employees. The onboarding process did not adequately cover essential policies, procedures, and legal requirements, leading to errors and oversights by the new hires. The firm was eventually penalized by regulatory bodies for non-compliance, causing financial strain and damage to their professional reputation.

    In each of these case studies, the organizations faced significant challenges due to poor onboarding of remote and hybrid workers. Proper onboarding is crucial to ensure employee satisfaction, productivity, and company success in today’s increasingly remote and hybrid work environments.

    The psychological pitfalls of onboarding

    In addition to the logistical challenges of onboarding new remote and hybrid hires, cognitive biases can also play a significant role in shaping the experience. These biases can cloud judgment, hinder decision-making, and create misconceptions about new employees’ performance and potential. Let’s explore two specific cognitive biases and their impact on the onboarding process: the halo effect and optimism bias.

    The halo effect occurs when an individual’s positive qualities or achievements in one area influence our perception of them in other areas. In the context of onboarding, a new hire with an impressive resume or a glowing recommendation might be seen as more competent and capable than they actually are. This can lead to unrealistic expectations and a lack of appropriate training and support during the onboarding process.

    For example, a remote employee who is an expert in their field may be assumed to excel in all aspects of their job, including time management and communication skills. However, they may struggle with the unique challenges of remote work, such as staying organized and maintaining a healthy work-life balance. Failing to recognize these potential shortcomings due to the halo effect can lead to insufficient support and training, ultimately affecting the new hire’s performance and job satisfaction.

    To combat the halo effect, it’s essential to provide equal training and support to all new hires, regardless of their past achievements or qualifications. This ensures that each employee receives the necessary resources to succeed in their role, setting them up for long-term success.

    Optimism bias is the tendency to overestimate the likelihood of positive outcomes and underestimate the probability of negative ones. In the onboarding process, this bias can manifest in several ways, such as underestimating the time and resources required for effective onboarding or assuming that new employees will easily adapt to their new work environment without much support.

    For instance, a manager might be overly optimistic about a hybrid employee’s ability to balance their time between the office and remote work. This misplaced confidence can result in inadequate training and support, causing the employee to struggle with time management, communication and collaboration.

    To counter optimism bias, it’s crucial to approach the onboarding process with a realistic mindset, recognizing the potential challenges that new hires might face, especially in remote and hybrid work settings. By proactively addressing these issues and providing appropriate training and resources, you can create a more supportive and successful onboarding experience for your new employees.

    Related: 7 Common Customer Onboarding Mistakes to Avoid at All Costs

    How to optimize your onboarding process

    Having worked with a number of large and middle-market companies to optimize their onboarding process for hybrid and remote staff, I can say that a successful onboarding process should be like a warm embrace, making new employees feel welcomed, informed and valued. By refining the onboarding process, you can boost employee retention, morale and productivity. Customizable onboarding software and tailored approaches can help create a smoother experience for all employees, especially remote and hybrid workers who require extra attention. By focusing on the unique needs of employees in different industries, generations, and company sizes, you can ensure that everyone has the support and resources they need to succeed.

    Here are some tips to enhance your onboarding process:

    1. Prepare a comprehensive onboarding plan

    A well-structured onboarding plan is like a roadmap, guiding new hires through their initial days and setting them up for success. Outline the goals, key milestones and timelines for new employees, ensuring that they have a clear understanding of their roles and responsibilities.

    2. Assign buddies or mentors

    Pairing new hires with experienced colleagues can provide invaluable support and guidance during the onboarding process. This mentorship can help them quickly navigate the company culture and address any concerns they may have, fostering a sense of belonging and camaraderie.

    3. Offer continuous training and support

    Onboarding isn’t a one-time event, but an ongoing process. Regularly provide new hires with opportunities for growth, skill development and support, ensuring they feel well-equipped to tackle their roles. This can be particularly crucial for remote and hybrid employees who may need additional resources to succeed in a virtual work environment.

    4. Encourage open communication

    Establish a culture of open communication, encouraging new hires to ask questions, share their thoughts and seek help when needed. This can help employees feel more comfortable in their roles and promote a sense of trust and transparency within the team.

    5. Gather feedback and iterate

    As with any process, there’s always room for improvement. Gather feedback from new hires on their onboarding experience and use this insight to fine-tune your process. By continually iterating and adapting, you can ensure that your onboarding experience remains fresh, relevant, and effective.

    Related: 5 Best-Practice Tips for Onboarding Remote Employees

    Conclusion

    A thoughtful and engaging onboarding experience is the foundation for employee success, particularly for remote and hybrid workers who face unique challenges. By investing in a comprehensive onboarding process and providing ongoing support, companies can foster a motivated, well-trained and loyal workforce that is ready to contribute to the organization’s growth and success. Just like a well-executed dive, the right onboarding process can make a splash and leave a lasting impression on your new hires.

    [ad_2]

    Gleb Tsipursky

    Source link

  • How Employers Can Help Working Parents Navigate Back-to-School Season | Entrepreneur

    How Employers Can Help Working Parents Navigate Back-to-School Season | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Picture this: It’s the end of summer, and the scent of freshly sharpened pencils fills the air. Parents across the nation are bracing themselves for the annual back-to-school whirlwind. It’s a time of excitement for children, but for working parents, it’s a different story. They’re juggling work commitments with school orientations, homework help, and the dreaded school run. It’s no wonder that so many parents declare this the most stressful time of the year.

    A new survey from Kiddie Academy, an educational child care center, found that when all members of the family are polled, 63% say it’s Mom who has the hardest time with the first day of school. That’s compared to only 27% who identified the child as being the one who struggles most.

    The back-to-school season is akin to a roller coaster ride. It’s filled with the highs of seeing your child’s excitement for the new school year, but also the lows of trying to balance work and family life. The stress of managing both can feel like trying to juggle flaming torches while riding a unicycle on a tightrope. It’s a precarious balancing act that leaves many parents feeling overwhelmed and stretched thin.

    Related: Add These 11 Back-to-School Musts to Your Online Calendar

    The role of employers

    But what if I told you that employers hold the key to alleviating this stress? Yes, you heard it right. Employers can play a pivotal role in helping working parents navigate the back-to-school season. It’s not just about being understanding; it’s about taking proactive steps to support your employees during this challenging time.

    Employers are like the conductors of an orchestra. They have the power to set the tempo and create harmony among the various sections. When they step up and take responsibility for helping their employees, they can turn the cacophony of the back-to-school season into a symphony of productivity and satisfaction.

    Embrace flexibility

    First and foremost, flexibility is the name of the game. Offering flexible working hours or the option to work from home can be a game-changer for working parents, as I tell companies who I advise on figuring out their hybrid work policies. Imagine the relief of a parent who can adjust their schedule to drop off or pick up their child from school without the fear of repercussions at work. It’s not just about reducing stress; it’s about increasing productivity. A happy employee is a productive employee, after all.

    Think of it as a dance. When employers and employees move in sync, adjusting to each other’s rhythms and steps, they create a beautiful performance. Flexibility allows this dance to flow smoothly, preventing missteps and stumbles that can lead to stress and dissatisfaction.

    Provide resources

    Next, consider providing resources to help parents manage this transition. This could be as simple as sharing information about local after-school programs or offering a seminar on time management strategies. Knowledge is power, and arming your employees with the tools they need to succeed is a win-win situation.

    Imagine equipping your employees with a Swiss Army knife of resources. Each tool, whether it’s information about childcare services or tips on managing stress, can help them navigate the challenges of the back-to-school season. The more tools they have at their disposal, the better equipped they are to handle whatever comes their way.

    Foster a supportive culture

    Fostering a supportive culture is crucial. Encourage open communication and make it clear that it’s okay to ask for help. Whether it’s adjusting a deadline or delegating a task, small changes can make a big difference. Remember, it takes a village to raise a child, and the workplace can be part of that village.

    Creating a supportive culture is like building a safety net. It provides a sense of security for employees, knowing that they can take risks and ask for help without fear of judgment or punishment. This safety net can catch them when they stumble, allowing them to bounce back quickly and continue performing at their best.

    The power of employee resource groups

    In the quest to support working parents during the back-to-school season, one tool stands out for its effectiveness and impact: Employee Resource Groups (ERGs). ERGs are groups within a company where employees connect over shared characteristics or life experiences. They provide a sense of community, a platform for advocacy, and a resource for personal and professional development.

    Imagine ERGs as a bustling farmers market. Each stall, or group, offers something unique, catering to different needs and tastes. There’s a sense of community, a shared understanding, and a wealth of resources to tap into. For working parents, a Parents ERG can be the stall that provides the support and resources they need to navigate the back-to-school season.

    A Parents ERG can be a lifeline for working parents. It provides a space where they can share experiences, exchange tips, and support each other. It’s like a virtual village, a community that understands the unique challenges of juggling work and family responsibilities.

    During the back-to-school season, this support can be invaluable. Parents can share advice on everything from managing school runs to finding after-school programs. They can also advocate for policies that support working parents, such as flexible working hours or childcare benefits.

    Moreover, a parent’s ERG can provide emotional support. Knowing that others are facing the same challenges can reduce feelings of stress and isolation. It’s a reminder that they’re not alone, that it’s okay to ask for help, and that they have a community that understands and supports them.

    Employers play a crucial role in establishing and supporting ERGs. They can provide resources, such as meeting spaces or communication platforms. They can also promote ERGs to ensure that employees are aware of them and understand the benefits of joining.

    Establishing a Parents ERG sends a powerful message to employees. It shows that the company values its employees’ whole selves, not just their work selves. It demonstrates a commitment to diversity and inclusion, and to supporting employees in all aspects of their lives.

    In the context of the back-to-school season, a Parents ERG can be a powerful tool for supporting working parents. It can reduce stress, increase engagement, and contribute to a positive, supportive company culture. So, as the school bells start to ring, let’s remember the power of ERGs. Let’s create communities within our companies where working parents can find the support and resources they need to navigate the back-to-school season with confidence and ease.

    Related: 9 Work-Life Balance Tips for Busy Working Parents (Infographic)

    Conclusion

    The back-to-school season doesn’t have to be a source of stress for working parents. With a little flexibility, the right resources, and a supportive culture, employers can help their employees navigate this challenging time with ease. It’s not just good for the parents; it’s good for business. So, as the school bells start to ring, remember: your role as an employer doesn’t end at the office door. It extends into the lives of your employees, and your support can make all the difference.

    Remember, as the great humorist Erma Bombeck once said, “The only difference between an ordeal and an adventure is attitude.” Let’s turn the back-to-school season from an ordeal into an adventure, both for working parents and employers.

    [ad_2]

    Gleb Tsipursky

    Source link

  • Why Corporate Social Responsibility Matters in Executive Decision-Making | Entrepreneur

    Why Corporate Social Responsibility Matters in Executive Decision-Making | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Here’s a reality that can’t be denied: The notion of corporate success is being radically reshaped. The financial bottom line is no longer seen as the sole measure of a company’s achievement. In today’s connected, hyper-transparent world, there’s a growing call on CEOs and leaders to create sustainable, measurable value for shareholders and society.

    This shift in mindset has led to the emergence of Corporate Social Responsibility (CSR) as a significant factor in executive decision-making. CSR encompasses activities aimed at achieving social, environmental and economic benefits while encouraging ethical behavior. Executives who fail to integrate CSR into their decision-making fabric run the risk of alienating stakeholders, damaging their brands, and eroding their competitive positions.

    Related: 3 Tips for Making Social Responsibility a Priority at Your Startup

    What is corporate social responsibility?

    Here’s a question: Who does your company truly serve, and how?

    The answer to this question is at the core of CSR — and may be a bit eye-opening when you consider your own organization. It’s no longer enough for a company to focus solely on generating profits and shareholder value; they must also consider their actions’ social, environmental, and economic impacts.

    Corporate responsibility encompasses the idea that companies have a duty to their stakeholders — including shareholders, customers, suppliers, employees and society — to operate ethically and transparently.

    CSR encompasses various initiatives, each of which is anchored by four key tenants:

    1. Ethical functioning: Upholding ethical standards across all business operations, ensuring stakeholder fairness, integrity and respect.
    2. Social equity: Fostering social inclusivity and development via diversity programs, support for disadvantaged communities and human rights advocacy.
    3. Environmental stewardship: Adopting sustainable practices to lessen the company’s environmental impact through waste reduction, carbon emission control and investment in green energy
    4. Community engagement: Participating in community betterment through philanthropy, volunteering, and local event sponsorship, contributing to a company’s external social responsibility profile.

    While being viewed as a socially responsible business is an excellent growth strategy, there’s more to it than just a good PR move. Here are four reasons why every leader should emphasize corporate social responsibility within their organization:

    1. Attracting and retaining talent

    Potential employees are looking beyond attractive salaries and traditional benefits. They’re interested in their company’s values, seeking employers who share their commitment to positively impacting society.

    Recent studies show that three-quarters of millennials are looking into a potential workplace’s environmental commitments when in the market for a job. And once on board, employees proud of their company’s CSR commitments tend to have higher engagement and loyalty, reducing turnover rates and boosting productivity.

    2. Building a positive corporate culture

    CSR initiatives foster a positive corporate culture. Employees feel valued when companies commit to ethical practices, invest in their wellbeing and engage in initiatives for society.

    When your internal team is united and inspired by the same values, a positive company culture radiates to external stakeholders — customers, suppliers, partners, etc. This can lead to increased trust in your brand and stronger relationships with all those involved.

    3. Strengthening community relations

    Companies don’t exist in a vacuum — they’re part of broader communities. By investing in CSR initiatives, you also invest in the health, welfare and prosperity of the community around you.

    This mutually beneficial relationship with the community builds trust and goodwill between your organization and its stakeholders, inspiring a more potent connection while helping create economic opportunity in the region you serve.

    4. Enhancing investor attraction

    Here’s another reality: CSR is a growing investor concern. Demonstrating a commitment can attract more investment, improve stock performance and increase market value. Rather than viewing CSR as an expense, it’s more effective to think of it as an investment in your organization’s future.

    Related: 5 Steps to Creating Socially Conscious Projects That Matter

    Practical steps to develop and implement CSR strategy from the top

    Developing and implementing a CSR strategy isn’t just a matter of well-intentioned ideas. It requires a structured approach, starting from the very top of the organization:

    1. Align CSR with your company’s vision and values: Before diving into specific CSR initiatives, take a step back and look at your current values. Can you easily align your CSR strategy with your company’s vision, mission and values to create an authentic message?
    2. Conduct a stakeholder analysis: Identify and analyze the needs and expectations of your key stakeholders, including employees, customers, investors and the community. This will help you identify the CSR areas that are most relevant to your business and stakeholders.
    3. Set clear and measurable goals: Set clear, measurable goals for your CSR strategy, just like any other business initiative. Track progress, adjust and aim for targets like environmental impact, employee diversity or community contributions.
    4. Create a CSR team: Appoint a dedicated team or CSR officer to drive your CSR strategy. They’ll coordinate activities, monitor progress and maintain stakeholder dialogue — with the resources and authority to execute effectively.
    5. Communicate and engage: Keeping communication channels open is critical to ace CSR. Keep stakeholders informed about CSR goals, initiatives and how far you’ve come. Engage them by inviting employees to volunteer, consulting customers on sustainability and including investors in ethical business discussions.
    6. Evaluate and adjust: Assess and adjust CSR strategy by soliciting stakeholder feedback and gauging impact. Continuous improvement is key to a successful, long-term commitment.

    Guide your company into a CSR future

    As a leader, developing and maintaining a corporate social responsibility (CSR) strategy is crucial to propel your company’s success. The more you know about the ups and downs of CSR — including the challenges and opportunities — the better equipped you are to spearhead CSR initiatives.

    The goal is to make a sustainable, long-term CSR strategy that lives up to your stakeholders’ expectations and delivers measurable results, now and in the future. Don’t take any risks that could hinder your corporate success – instead, improve your initial strategy, evaluate, and remain flexible.

    [ad_2]

    Tim Madden

    Source link

  • How to Build an Inclusive Culture That Permeates the Entire Organization | Entrepreneur

    How to Build an Inclusive Culture That Permeates the Entire Organization | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    I recently discussed how lack of inclusivity can create a toxic culture. However, research suggests that only 36% of companies are actively working to build an inclusive culture.

    Considering this prioritization lag, I’d like to discuss why the fundamental characteristics of an inclusive organization are important and must be implemented at both leadership and managerial levels.

    What does an inclusive culture look like?

    From the individual perspective, it isn’t difficult to envision an inclusive culture. If I were to ask, “Would you like to work at an organization where you’re recognized not just for accomplishing the work you were hired to do, but for the way you carry it out and the value you bring?” what would you say? I have yet to encounter someone who, when asked that question, says, “I prefer an environment that’s indifferent to the unique things I bring to the organization.” For individuals, an inclusive workplace involves feeling recognized beyond our tasks. We all want that kind of workplace.

    It’s also not difficult to envision a non-inclusive culture. I often ask staff and leaders, what would be the effect for you, personally, if the things you like to be recognized and appreciated for were not valued or recognized by your leader? In working with thousands of individuals, the typical response I hear is that they would feel deflated, demotivated, frustrated, disheartened, disillusioned and disengaged.

    And it’s no wonder. Individuals who work for managers/leaders who are not committed to inclusion report being far less likely to feel a sense of belonging — research shows they are twice as likely to feel excluded at work and three times more likely to want to quit. Teams plagued with inclusion-rooted challenges often suffer from siloed communication and lack of trust. This bridges into a lack of openness, which may devolve into its extreme form: information hoarding, unhealthy competition and negative work environments.

    Related: How to Create a More Inclusive Workplace

    The critical role of leadership in an inclusive culture

    Leaders are central to an inclusive culture. Research shows that the relationship between leaders and employees can impact employee sentiment and well-being. Additionally, strong relationships between leaders and employees can promote a sense of inclusion where different perspectives, experiences and personality types can thrive.

    In my consulting, I’ve found that leaders generally want to create inclusive environments and grow in their ability to lead inclusively. When I walk them through the business benefits of inclusion — how it moves the needle on things every leader wants — they’re even more convinced. But even when they fully appreciate its value, they encounter so many barriers that there’s often a chasm between their desire and their ability to operationalize inclusion within their organizations. At that point, they’re saying, “Help me make this happen.”

    Top-down vs. bottom-up inclusion

    If the C-suite is committed to inclusion, it may be tempting to say “OK, we’re good.” However, there’s an organizational perspective on inclusion, which is typically addressed by the C-suite, and then there’s the operational piece that lives or dies at the managerial level.

    Most employees’ ability to feel included doesn’t come from a mission statement or the C-suite’s verbalized commitment to inclusivity. It comes from the relationship with their direct manager, who, according to MIT Sloan, plays a key role in either reinforcing or undermining the culture promoted by leadership.

    Indeed, the people managers to whom most employees report are key to operationalizing any C-Suite initiative to create an inclusive culture. The challenge is that while frontline people managers influence 80% of a company’s workforce, they often receive just 20-30% of the organization’s training. This imbalance in leader development means we often see notable investments in C-Suite and top leadership, but a disproportionately lower investment in those frontline leaders, who, according to research, can make or break the organization’s commitments.

    Ample research shows that we want our direct manager to recognize our unique strengths and motivators. Even when the C-suite commits to inclusion, if it doesn’t make its way down to the everyday employee experience, via management, an inclusive culture can’t emerge. How can both leaders and managers take concrete steps to develop a culture of inclusion that permeates the entire organization?

    Related: We Need Inclusive Leaders Right Now More Than Ever

    Creating an environment of psychological safety

    One critical step leaders and managers can take is developing a culture of psychological safety, where everyone feels they can offer ideas that deviate from the status quo or majority opinion. They can do it without fearing it’ll turn into a strike against them and with confidence their idea will be heard and considered with fairness, even if it ultimately does not prevail.

    It’s not enough for only some to feel psychologically safe. To truly harness a team’s diversity of thought, all members must have a sense of this safety and confidence that their colleagues and manager will invite their voices into the conversation whenever possible. When this sense is absent for anyone on the team, I see other effects, including siloed meetings, people being left out of important meetings, decisions being made in smaller huddles versus in team meetings, etc. When these effects prevail, the team is not realizing the benefits of its diversity.

    Conversely, teams that harness the diversity of the thoughts and backgrounds of their members can wrestle more effectively with big challenges. I find these teams often create such compelling cultures and work environments that they retain their employees longer and see greater levels of both employee satisfaction and employee engagement.

    These teams welcome the healthy conflict that comes from divergent points of view because they’re founded on a sense of trust and respect. Consequently, they reap the benefits of enhanced collaboration and smarter decisions.

    The rise of company culture as a differentiator

    As company culture has hit an all-time high in terms of emphasis from employees, we’ve seen tremendous movement in the workforce. People are weighing culture more heavily in job searches than even salary. Considering that inclusive company culture drives countless critical factors in a successful business, such as employee engagement, innovation and employee retention, companies must ask, “Can we afford to not focus on inclusion?”

    By implementing a strategy that promotes inclusion at both the leadership and managerial levels, companies can build a compelling work culture in which employees feel heard and recognized not only for the tasks they complete but also for their contributions, talents, abilities and approaches to work.

    Related: How Does Inclusive Culture Boost Company Performance?

    [ad_2]

    Rachel Cubas-Wilkinson

    Source link

  • Why Employers Should Think Twice About Using Surveillance Technology | Entrepreneur

    Why Employers Should Think Twice About Using Surveillance Technology | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Despite the vast amount of tech layoffs and the threat of recession, it’s still a job seeker’s market, and employers only hold so much power. A recent job trends report dug into this power struggle and found that 52% of job seekers in the U.S. believe they have the upper hand compared to employers. Companies shouldn’t tip the scales even more by adding reactionary rules and technologies — or they risk losing their top talent and hurting recruiting.

    The rise in surveillance technology, as employers try to crack down on how employees spend their workdays to increase productivity, is a controversial tactic that damages culture. And yet, 79% percent of companies that do not currently use these tools plan to deploy them in the next three years. Although a study found that 95% of IT managers say they’d be okay with employee productivity surveillance technology (EPST) if leaders were transparent about it, leaders must ask themselves: What are the real recruiting and retention ramifications given the current job market?

    Related: 78% of Employers Are Using Remote Work Tools to Spy on You. Here’s a More Effective (and Ethical) Approach to Tracking Employee Productivity.

    What we know about EPST

    We’ve seen a spike (80%) in productivity monitoring implementation since the onset of the pandemic.

    We’ve specifically seen these tools take a toll on business leaders and IT managers. EPST forces them to make questionable decisions and spy on their coworkers. And yes, I deliberately use the word “spy” because that’s what we’re really talking about.

    Typically, EPST logs and produces data on keystrokes, clicks, time online and website visits. However, when it’s deployed, IT managers would likely defy company policy to inform colleagues about EPST, and 72% would help their coworkers find workarounds. How can this data be valuable with so many employees looking for workarounds?

    A third of IT managers also view EPST as an invasion of privacy, so the pushback will continue. The only way for leaders to stop putting their mid-level leaders in sticky situations is to forgo these tools.

    Surveillance technology is also known to decrease company morale. Thirty percent of IT managers indicate a decrease in company culture, a negative impact on employee mental health and even increased burnout on some occasions because of EPST. These factors could push employees to look for new jobs.

    Related: Your Boss is Watching You. Here’s Why Monitoring Workers is a Two-Edged Sword

    The generational divide

    Four generations make up today’s workforce — baby boomers, Gen X, millennials, and Gen Z — and they all have opinions on workplace etiquette and comfort with surveillance technology. Millennials and Gen Z (Zoomers) are the most critical generations to pay attention to as concerns EPST. Some of these employees entered the workforce shortly before or during the pandemic. They will also be the first to jump ship when an organization implements harsh requirements or suspicious monitoring technology.

    It’s more important than ever for businesses to understand how different generations will react to deploying tools like EPST. For example, half of IT workers (52%) acknowledged they would turn down an otherwise desirable position if they knew the company used EPST. Similarly, 30% of employees noted they’d begin applying for a new job if they found out EPST was implemented. Three percent would even quit immediately.

    EPST is backfiring on employers, and the generational divide only worsens this. It’s typically not millennials or Zoomers making these crucial technology decisions and affecting turnover.

    Baby boomers and Gen X see less of an issue with “harsh” workplace rules and regulations as they’re typically more loyal to their companies and managers. So, while one part of the labor market is comfortable with EPST, the other side sees huge ethical issues with the practice. With the average millennial staying at their job for only 2.75 years, companies shouldn’t give them another reason to leave.

    Leaders should consider who is entering the workforce before making rash decisions about invasive technologies. While the conversations around EPST are complex, the decision to deploy it isn’t.

    Related: You’ve Been Tracking Employee Productivity All Wrong

    With so many generational differences — and considering how much the pandemic changed work preferences and put the power into the hands of the employee — these tools are better left unused. As an alternative, employers that look for employee experience-enhancing tools have a better chance of driving productivity. Seventy-seven percent of companies that have put a focus on employee experience have seen an increase in retention. The number of job openings and voluntary worker resignations is reaching pre-pandemic levels.

    If organizations ignore reason and deploy surveillance technology, they risk damaging not only the employees’ experience but also their reputation and retention rates in exchange for sketchy, unreliable data.

    [ad_2]

    Mark Banfield

    Source link

  • 9 Strategies to Help Your Employees Find Their Purpose | Entrepreneur

    9 Strategies to Help Your Employees Find Their Purpose | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Studies show that people’s hunger for purpose and meaningful work is at an all-time high. It’s one of the top reasons people give for leaving a job and it’s what they’re looking for in their next one.

    While leaders set the tone for a purpose-driven organization, managers are the ones who bring it to life. Or bury it. Managers matter because their daily words and actions create the work environment for 90% of any organization’s workforce.

    [ad_2]

    Britt Andreatta

    Source link

  • 1 in 3 Office Workers Under 40 Admit to ‘Quiet Quitting’ For This Singular Reason | Entrepreneur

    1 in 3 Office Workers Under 40 Admit to ‘Quiet Quitting’ For This Singular Reason | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Imagine the frustration of trying to fill a bucket with a hole at the bottom; it’s a frustrating, losing battle. That’s exactly what’s happening to businesses, except the bucket is the workplace, and the slow, steady leak is disengaged employees quietly withdrawing their enthusiasm, productivity, and loyalty, through what’s known as “quiet quitting.”

    Now, consider this finding from the Ivanti 2023 Report: Elevating the Future of Everywhere Work — an astonishing one in three office workers under 40 admit to this form of psychological resignation. It’s the corporate equivalent of a slow leak in a tire – hard to spot, but just as capable of deflating your workforce as a sudden blowout.

    Related: If You Want to Remain Competitive, You Need to Overhaul Your Workplace Training. Here’s How.

    Identifying the culprit: The rigid office environment

    So, let’s take a moment to channel our inner Sherlock Holmes and trace the footsteps leading to this quiet quitting conundrum. Over 40% of office workers report burnout from excessive workload, and another 46% cite a lack of motivation as the perpetrator. Imagine these issues as a pair of invisible gremlins, silently wreaking havoc, pushing employees closer to the exit with every passing day.

    Now, here’s the interesting bit: Both these mischievous twins seem to have a strong preference for traditional, in-office settings. That’s right, folks; the villain in our plot isn’t an economic downturn or a competitive job market. It’s the conventional, four-walled, cubicle-filled, nine-to-five office environment.

    The irresistible allure of flexibility: Balancing office and remote work

    What can act as the silver bullet to slay these gremlins? Let’s call it “The Great Balancing Act.” Much like a skilled acrobat deftly navigating a tightrope, modern employees crave the ability to balance their time between the office and their homes. According to the Ivanti report, while only 43% of workers currently enjoy this freedom, a whopping 71% desire it, creating a gaping 28-point “preference gap.”

    Visualize this gap as a vacant dance floor, eagerly waiting for the dancers. It’s a space brimming with potential — a chance to increase employee engagement, productivity, and satisfaction. The dance floor is ready; all it needs is the right tune.

    Hybrid work: A CEO-endorsed lifeline

    Fortunately, the eagle-eyed executives perched at the top of the corporate ladder are starting to take notice. An encouraging 71% of global CEOs and a stellar 84% of U.S. CEOs are singing praises for hybrid working, recognizing it as a positive force for employee morale. They’ve sensed the winds of change and, instead of futilely trying to shield their organizations, they’re adjusting their sails to ride the gusts.

    Picture it like this: hybrid work is the Swiss Army Knife of modern work practices — a versatile, multi-purpose tool that empowers employees to tailor their work-life balance. By contrast, much like Swiss cheese, rigid office schedules are filled with holes that gradually siphon away employee satisfaction.

    Unleashing the potential of everywhere work

    It’s time to roll out the red carpet for Everywhere Work — an innovative approach that drives productivity, retains top talent and enhances employee satisfaction. It’s about tearing down the rigid walls of traditional office settings and fostering an environment of trust, autonomy and flexibility.

    Imagine a jazz musician improvising a stunning solo on stage. Just like this musician, an “Everywhere Worker” is given the liberty to sync their work rhythm with the melody of their life. They are no longer forced to straitjacket their personal commitments into the rigid confines of a 9 to 5 timetable. Instead, they’re given the freedom to create their unique work-life symphony, blending the notes of professional commitments with the harmony of personal life.

    Indeed, the Ivanti report shows an improvement in such flexible work over time. In the 2022 Ivanti Everywhere Workplace Report, 49% of survey respondents say they have been negatively affected in some way by remote work, and 9% claim that they have been passed over for a promotion. By contrast, in the equivalent Ivanti 2023 Report: Elevating the Future of Everywhere Work, only 34% say they have been negatively impacted by such work, and 2% believe they have been passed over for a promotion due to hybrid working. This change indicates an improvement in the ways both individuals and organizations handle remote work and a reduction in proximity bias.

    Related: Employers: Hybrid Work is Not The Problem — Your Guidelines Are. Here’s Why and How to Fix Them.

    The power of flexibility: Fueling productivity, retention and satisfaction

    Consider this: The flexibility inherent in Everywhere Work allows employees to switch work locations based on the nature of their tasks. Need to collaborate with a team? They can head into the office. Require deep focus for a project? Working from home provides a sanctuary from office distractions. It’s like choosing the right tool for the job, a choice that amplifies productivity and job satisfaction.

    Moreover, this flexibility allows employees to optimize their work schedule around their most productive hours, just like a nocturnal owl or an early bird choosing to hunt when their energy is at its peak. The result is a workforce that is not just more engaged, but also more effective and satisfied.

    When we dig deeper into the benefits of Everywhere Work, we unearth an often overlooked, yet critical aspect — mental health. By reducing commute stress and providing control over work-life balance, hybrid work is akin to a soothing balm for the weary souls of employees. It’s like the protective shell around a delicate egg, shielding employees from the crushing pressures of burnout and overwork. The upshot? A significant dip in “quiet quitting,” as employees find renewed joy, motivation, and satisfaction in their work. Indeed, that’s what my clients find as I help them figure out a flexible return to office and hybrid work policy.

    The bottom line: Embrace the future of work, today!

    The conclusions drawn from the Ivanti 2023 Report are crystal clear, echoing like a clarion call for businesses: adapt or risk becoming relics. As we journey deeper into the 21st century, the workplaces that will not just survive but thrive are those that offer flexibility, respect work-life balance, and prioritize employee mental health.

    The future of work isn’t a distant dream; it’s here, knocking on our doors. It’s not about packing employees into offices like sardines in a tin can. It’s about giving them the reins to control their work-life balance, nurturing their mental health, and respecting their needs. It’s about understanding that work is not a place you go, but a thing you do.

    As you chart the course for your organization’s future, remember: the key to preventing your employees from quiet quitting isn’t in chaining them to their desks — it’s in unshackling them. So, embrace the future, close the “preference gap,” and let your workforce dance to the tune of Everywhere Work. The stage is set, and the audience — your employees — are eagerly awaiting the performance.

    [ad_2]

    Gleb Tsipursky

    Source link

  • 7 Ways Data Helps Your Restaurant Succeed | Entrepreneur

    7 Ways Data Helps Your Restaurant Succeed | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Data makes the world go around. While not every restaurant takes advantage of the wealth of data, it’s essential in making smarter decisions. Cloud-based POS systems are equipped with numerous restaurant analytics and insights that generate data every time your staff takes an order, processes a credit card payment or closes a check.

    While each piece of information may provide some insight into your restaurant’s sales performance, when collected and analyzed together, they tell a complete and compelling story about your business.

    But once you have all this data, what can you actually do with it?

    1. Optimize your menu

    It’s easy to assume that your most popular menu item is also your most profitable. This might not be the case, however. By analyzing your data, you can get a clearer picture of your menu performance and understand which items bring you repeat customers and make you the most money. For example, if burgers are one of your best-selling items, but those customers don’t return, it’s time to investigate.

    The same is true for your lower-selling items. Some of your lower-performing items could have a lot of untapped potential. Your restaurant analytics software can tell you which items have a higher-than-average return rate for guests. With this new data, you can make decisions to improve your menu, like highlighting a particular item or updating the description and picture to tap into that potential.

    Related: Here’s How Data Analytics Is Improving Dining Experiences While Helping Increase Revenues for Restaurants

    2. Measure staff performance

    How well do you know your staff? Staff performance can be directly linked to your profitability. Staff reports let restaurants track productivity, efficiency and customer service levels. While some staff might be doing great, others might need more training. With this data, you can quickly identify rockstar employees and reward them, but also determine which employees aren’t measuring up to the mark and give them additional training to reach their potential.

    3. Uncover strengths – and weaknesses

    Is one server a pro at upselling? If a server is the best at selling high-priced menu items like wine bottles, this is an opportunity to pair them with other staff for training purposes. Pair high-performing staff with servers with low-performance numbers for shadowing and other exercises to help improve their sales.

    Is your best customer coming in next weekend? Make sure you schedule at least one of your best-performing staff members to make their experience memorable.

    4. Decrease turnover

    Turnover is a huge issue in the restaurant industry. Restaurant owners have been scrambling to find new ways to hire and keep staff. Keeping a closer eye on their performance could be the difference between staff that stays for the long haul or finding a new employee. By regularly looking at staff performance, you can better understand the employees that are struggling and might need more training or a change of role.

    Related: Using Data-Driven Concepts To Unlock Incremental Growth

    5. Increase staff happiness

    Staff performance can also give you insights into employee happiness levels. Sometimes the environment needs to change to keep staff happy and performing at their best. If you notice a pattern of decreased productivity across staff, it might be time to sit down for a chat with them or to start looking at how the current environment might be affecting the team.

    6. Create repeat customers

    How often are customers coming back? What are they ordering? Knowing these key pieces of data will help you determine how to shape your menu and how you upsell or interact with customers. With 360 analytics tools that connect operations, customer data and payments into your reports, you can get eye-opening data you can act on.

    Each time a credit card is swiped, the restaurant analytics software generates a unique profile for every guest. This provides insights into their preferred menu items, purchase history, frequently used payment methods, preferred location and other details. With this information, you can pinpoint VIP customers and elevate their experience with tailored promotions or complimentary items.

    Related: 25 Ways You Can Turn a One-Time Buyer Into a Repeat Buyer

    If a guest has dined at your restaurant six times in the last four weeks, you can access their guest profile to identify their favorite drink or appetizer and offer it to them as a complimentary item. This gesture is an excellent way to show your appreciation and build customer loyalty.

    7. Improve stock management and reduce waste

    If you’re constantly running out of ingredients or always have specific ingredients leftover from under-ordered items, it’s time to take a look at your inventory.

    Proper inventory management is an essential part of running a successful restaurant. By analyzing inventory data, restaurants can identify trends in food waste and improve profitability. Restaurants can also use inventory data to optimize ingredient usage and reduce the risk of running out of popular menu items.

    With inventory management software like Lightspeed Inventory, restaurants can make the most of their ingredients, eliminate manual stock counting, reduce human error and simplify their inventory management with real-time deductions as items are sold and automatic replenishment when you get fresh inventory.

    Every day is an opportunity to get new insights into your business. Data can help you do everything from optimizing your operations to improving the overall guest experience. Not sure where to start? All it takes is partnering with the right restaurant management software.

    [ad_2]

    Peter Dougherty

    Source link

  • Open vs. Anonymous Feedback \u2014 How to Effectively Collect Employee Feedback | Entrepreneur

    Open vs. Anonymous Feedback \u2014 How to Effectively Collect Employee Feedback | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    While the need for continuous feedback has been a cornerstone of organizational performance for many years, recent transformative trends around remote working have made feedback culture more important than ever for company cohesion and success.

    But in the quest for valuable and honest feedback, does open feedback deliver better outcomes than anonymous channels?

    The benefits of feedback culture

    Regularly sharing honest and constructive feedback respectfully can create a growth mindset in the workplace as it encourages employees to learn, develop new skills, grow and seek new challenges.

    Providing feedback in this way can help promote better communication between managers and employees, boosting employee engagement and positively impacting overall employee satisfaction, retention and productivity.

    As such, regular feedback can build a solid and cohesive team and is a vital component in creating a strengths-based company culture, according to workplace consulting and global research group Gallup.

    Furthermore, when companies implement feedback culture correctly, it encourages continuous improvement and innovation. Importantly for fully remote or hybrid organizations, the benefits of an entrenched feedback culture extend beyond performance and productivity, as it also allows companies to focus on factors related to employee well-being.

    For these reasons, creating an environment where employees feel safe to give and share feedback on their perspectives on their and co-workers’ performances, workloads and well-being will differentiate a company from its competitors.

    Related: How to Give Employee Feedback Effectively (and Why It Matters)

    Encouraging valuable feedback

    The key to successfully implementing a feedback culture is creating opportunities for employees to give and receive constructive feedback regularly. In this regard, companies must train employees on how to do so and lead by example through regular and transparent communication.

    Another key consideration is developing effective feedback mechanisms, with open or anonymous feedback an important consideration. The main difference between these two feedback channels is the level of transparency and accountability involved in the process.

    I have always felt that anonymous feedback is toxic to company culture. In my mind, anonymous feedback conveys a message that the company normalizes living in fear and accepts that employees lack the courage and conviction to own their points of view.

    But as a business leader, my most significant concern relates to the idea that anonymous feedback means staff does not trust each other enough to offer and receive feedback constructively.

    Related: Are You Asking for Employee Feedback? If Not, Good Luck With Retention.

    Open feedback fosters trust

    Promoting open feedback lends itself to better engagement as employees can share their views in face-to-face conversations, through email, or via formalized internal feedback platforms. And sharing feedback in an open forum allows managers and business leaders to follow up with the person who provided the insights to clarify matters, ask additional questions and continue the conversation.

    Additional potential benefits of open feedback include:

    • Allows leadership to give and receive constructive criticism and positive reinforcement.
    • Helps identify areas for improvement and growth opportunities for individual employees and the organization as a whole.
    • Encourages a culture of continuous improvement.
    • Builds trust and fosters better communication within the workplace.

    One employee of mine shared that speaking openly and honestly is the best form of self-expression when sharing feelings and perceptions. The key to providing effective open feedback is honesty, offering facts to support views, using logic and proactively sharing ideas on improving rather than sharing “empty criticism,” which is useless.

    In this type of environment, where people respect the feelings of others, theoretically the need for anonymity would naturally dissipate.

    Related: Is Employee Feedback Missing at Your Company? Here’s Why and How to Fix It.

    Different strokes for different folks

    However, other employees of mine have pointed out that people differ in their ability to share information and receive feedback openly, especially if it is sensitive or in a group setting.

    Where extroverted employees may feel comfortable sharing their views freely in an open forum, someone who is more reserved and introverted may struggle to express their opinion or provide or receive criticism in a group setting.

    Another response pointed out that people may not be able to share points of discomfort openly because they do not want to compromise their position. In this context, labeling anonymous feedback as cowardly may undermine someone who is merely worried about their future.

    Open feedback can also lead to tension and conflict among employees and managers if it is not delivered constructively and respectfully and may create a culture of over-criticism and negativity if feedback is not balanced with positive reinforcement. Moreover, an open-only approach may erode the value of the feedback received, as people might feel less inclined to provide insights.

    A place for anonymous feedback

    When implemented and managed correctly, anonymous feedback can provide valuable insights and promote constructive communication, as this feedback channel allows staff to share honest opinions and feedback without fear of recrimination or repercussions or offending colleagues or superiors.

    In this way, allowing anonymous feedback may help to create a more balanced and comprehensive view of employee satisfaction and company performance.

    However, an anonymous-only approach can lead to a lack of accountability, fostering a culture of negativity and complaining. It can make it difficult to follow up or address specific concerns.

    What anonymous feedback channels should not do is promote a workplace where employees feel that they can recklessly criticize one another without consideration or give rude, offensive or hateful feedback.

    A hybrid feedback model

    Ultimately, both options have benefits and drawbacks, and both can work to create a thriving feedback culture because they cater to different employee preferences. As such, the best approach may vary depending on the situation and the culture of the organization.

    [ad_2]

    Max Azarov

    Source link

  • 6 Critical Reasons Why Culture Should Be at the Top of Every CEO’s Agenda | Entrepreneur

    6 Critical Reasons Why Culture Should Be at the Top of Every CEO’s Agenda | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    In today’s fast-paced business world, we are constantly bombarded with buzzwords like “innovation,” “disruption,” and “growth.” It’s easy for CEOs to get caught up in the relentless pursuit of the next big thing, neglecting the fact that the most important element of a successful business is its culture. Culture is the secret sauce that enables companies to thrive, and it should be at the top of every CEO’s agenda.

    Here are six reasons why culture should be the number one priority for every business leader, along with tips for improvement.

    Related: What Makes a Great Company Culture (and Why It Matters)

    1. Culture drives employee engagement

    When employees are engaged, they are more productive, more innovative and more likely to stay with the company. A strong culture fosters a sense of belonging and purpose, creating an environment where employees feel valued and inspired to give their best. Engaged employees are more likely to become advocates for your company, spreading positive word-of-mouth and contributing to a stronger employer brand.

    If you regularly recognize and celebrate employee achievements this will help boost their engagement. Encourage open communication channels to allow employees to voice their opinions, ideas, and concerns. Provide opportunities for professional growth and development, such as training programs and mentorship. Implement team-building activities to strengthen bonds and collaboration among team members.

    By focusing on creating a culture that prioritizes employee engagement, CEOs can unlock the full potential of their workforce and drive their business toward greater success. A culture of engagement not only benefits individual employees but also impacts the overall performance and reputation of the company.

    2. Culture attracts top talent

    In an age where talent is the most valuable asset a company can possess, it’s crucial to create a workplace that attracts and retains the best of the best. A company with a positive, supportive culture will be a magnet for top talent, ensuring that you always have the right people to drive your business forward. A strong culture not only attracts high-caliber candidates, but it also reduces turnover and helps retain your existing top performers.

    To attract the best, offer flexible working arrangements and prioritize employee well-being to attract top talent. Showcase your company culture on your website, social media channels, and during interviews to give prospective employees a glimpse into your work environment. Provide competitive compensation packages, but also focus on non-monetary benefits such as opportunities for career growth, a healthy work-life balance, and an inclusive and diverse workplace.

    A robust talent pool is essential for any organization aiming for long-term success and growth, and CEOs who invest in cultivating an attractive culture will reap the benefits of an engaged, diverse and highly skilled workforce.

    3. Culture builds a strong brand identity

    A company’s culture is the foundation upon which its brand is built. When your employees truly believe in your mission and values, they become passionate ambassadors for your brand, both internally and externally. A strong brand identity can set you apart from competitors and create a loyal customer base that will keep coming back for more. Moreover, a culture that aligns with your brand will reinforce your company’s image, making it more authentic and credible in the eyes of customers, partners and investors.

    To strengthen your brand identity encourage your employees to share their experiences and stories on social media to strengthen your brand identity. Develop a consistent internal and external communication strategy that reflects your company’s culture and values. Involve employees in the development of your brand’s mission, vision, and values to ensure a strong alignment between culture and brand. Hold regular culture and brand workshops to maintain awareness and alignment throughout the organization.

    By nurturing a culture that is closely aligned with your brand, CEOs can create a powerful synergy that drives success in the marketplace.

    4. Culture enhances customer experience

    A positive and customer-centric culture will be reflected in every interaction your employees have with clients. When employees are empowered and encouraged to go above and beyond, they will provide exceptional customer experiences that will leave a lasting impression. Exceptional customer service can lead to increased customer satisfaction, loyalty, and word-of-mouth referrals, ultimately driving business growth and profitability.

    Foster a culture of continuous improvement by encouraging employees to share feedback and insights from their interactions with customers. Create a feedback loop between employees and management to ensure that customer insights are used to drive improvements in products, services and processes.

    By prioritizing a culture that emphasizes outstanding customer experiences, CEOs can create an environment where employees are motivated to exceed customer expectations at every touchpoint.

    Related: 6 Ways to Keep Your Staff Feeling Happy and Supported

    5. Culture fosters innovation

    Innovation is the lifeblood of any business, and a thriving culture is the perfect breeding ground for creative thinking and problem-solving. When employees feel supported, trusted, and encouraged to take risks, they are more likely to come up with groundbreaking ideas that can propel your company to new heights. A culture of innovation helps companies stay ahead of the curve, adapt to changing market conditions, and seize opportunities that competitors may miss.

    Establish a culture of psychological safety, where employees feel comfortable sharing ideas and taking risks without fear of negative consequences. Encourage collaboration and cross-functional teamwork to spark new ideas and combine diverse perspectives. Allocate resources and time for experimentation, allowing employees to test and refine their ideas. Recognize and reward innovative thinking and the willingness to challenge the status quo, even if it doesn’t always lead to immediate success.

    This focus on innovation not only drives business growth and competitiveness but also helps employees develop their skills, expand their knowledge and contribute more meaningfully to the company’s success. In the long run, a culture of innovation can be a key differentiator that sets your organization apart and ensures its continued relevance in an ever-changing business landscape.

    Related: 7 Reasons Why Creating the Right Culture Should Be a Leaders Top Priority

    Culture improves financial performance

    Multiple studies have shown a direct link between strong corporate culture and financial performance. Companies with a healthy culture consistently outperform their competitors, demonstrating that investing in culture is not just a “nice-to-have” but an essential component of long-term success. A strong culture creates an environment where employees are more engaged, productive, and innovative, leading to better business outcomes and a stronger bottom line.

    You should be regularly monitoring the key performance indicators (KPIs) related to culture, such as employee engagement, retention, and satisfaction, to gauge the impact of your efforts on overall business performance. Share the results of culture initiatives with employees and stakeholders, highlighting the connection between a strong culture and financial success. Collaborate with HR and other departments to ensure that cultural values are integrated into recruitment, onboarding, performance management, and other key processes.

    By making culture a top priority, CEOs can lay the groundwork for a high-performing organization that consistently delivers strong financial results. A focus on culture not only leads to a more engaged and productive workforce but also creates a competitive advantage that can set your company apart in the market. By recognizing the critical role that culture plays in financial performance and taking a proactive approach to strengthening it, business leaders can create a powerful foundation for lasting success.

    Remember, it’s not just about the bottom line; it’s about creating a work environment where people are inspired to bring their best every day. And when that happens, there’s no limit to what we can achieve. Make culture your number one priority, and watch as your business flourishes, your employees thrive, and your legacy stands the test of time.

    [ad_2]

    Gordon Tredgold

    Source link

  • We Need a Real Commitment to Mental Health at Work. Here’s How (and Why) | Entrepreneur

    We Need a Real Commitment to Mental Health at Work. Here’s How (and Why) | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    There’s quite a lot of dialogue about employees’ mental health taking place now in the corporate world — the importance of prioritizing wellbeing, making work a safe place to be and shifting the expectation away from dangerous stress and burnout.

    But how much is really changing?

    While workplace discourse may be shifting to acknowledge the importance of employee mental health, many are just paying lip service to it. What we don’t want – and what I sometimes fear – is that mental health awareness is becoming the latest trend without a real deep connection to how to support the workforce best. With a doctorate in psychology, more than 20 years of expertise as a psychologist, and 12 years as a coach and trainer, I am seeing firsthand little change in large organizations. Unfortunately, what continues is the negative impact on employees from working in environments where their mental wellbeing is not a priority.

    Yet it’s desperately needed. Seven in 10 people globally are struggling with mental health issues, and there’s a trillion dollars’ worth of lost productivity due to anxiety and depression in the global economy.

    In 2023, the Workforce Institute at UKG surveyed 3,400 people across 10 countries and found that two-thirds of employees would accept reduced pay for a job that better supports their mental health. They found that managers impact employees’ mental health (69%) more than doctors (51%) and spouses (69%). Even the 2022 Gallup State of the Global Workplace survey data found that 60% of people are emotionally detached at work – with 19% saying they’re “miserable” and 44% experiencing stress “a lot.” Interestingly, they found that employees who are “engaged but not thriving” have a 61% higher likelihood of ongoing burnout than those who are “engaged and thriving.”

    Supervisors micromanaging their employees’ workday is a crucial issue impacting employees’ mental health. Having someone sit at your shoulder all the time and not trusting you to execute your tasks causes increased stress and anxiety for people – yet in the U.S., a study in 2020 revealed 64% of employees felt micromanaged. As leaders, developing a trusting relationship with your employees is essential. Employees and their managers will never establish a culture of trust if micromanaging is taking place.

    Something needs to change.

    We already know that a mentally and emotionally healthy workforce is essential for a company’s success and long-term sustainability. Focusing on wellbeing fosters a positive work environment, improving productivity and reducing absenteeism. And when employees feel valued, they’re more likely to remain with the company longer. We know that high employee retention rates contribute to lower recruitment and training costs and a more experienced and cohesive team. It’s a no-brainer: we need a “people-first” culture.

    So, how do we make the workplace a safe place for people to get the support they need?

    Related: How to Spot Entrepreneurial Burnout (Before It’s Too Late)

    The importance of workplace culture

    Having a people-first workplace culture focused on flexibility, wellbeing and support is one that does not prioritize working their employees to exhaustion and burnout.

    Many companies say they’re committed to supporting mental health in the workplace, yet that’s not what they’re modeling. Instead, they’re modeling working 60 hours a week and seemingly expecting that if management adds ten items to your to-do list, you must prioritize every single one, immediately. Many employees won’t say no because they fear getting fired. There needs to be alignment between what companies say they will do and what they are actually doing.

    How can leaders and their organizations make meaningful change, and what does that look like?

    Related: How Entrepreneurs Can Protect Their Mental Health While Being Their Boss

    1. Ensure wellbeing is an integrated part of company culture

    Wellbeing and mental health are ongoing areas that must remain priorities. How do companies show employees they care? Mental health support should be part of an ongoing, ever-evolving commitment in the workplace that develops and adapts to the evolving needs of the employees.

    What policies do you have in place as a leadership team? How does the culture encourage wellbeing right now? What needs changing, what needs supporting and what needs to stop? Don’t think of wellbeing inclusion as a “quick fix.” Assess your current policies and discuss how they may need to be improved.

    Creating a Mental Health at Work Charter is one way to solidify your organization’s commitment. Tailor it to align with the business model, and it will serve as a roadmap to achieve better mental health outcomes for employees. Try starting with what you plan to do each year – and don’t forget to include time to reevaluate and gather feedback from employees on what they believe the company can do to support them.

    One option might be to communicate that mental health sick days are valid in your company. Taking a mental health day when things seem too much could mean an employee avoids burnout. Some companies in the U.S. offer once-a-month “self-care days” to their staff, which doesn’t come out of their vacation allowance, but gives employees an extra “free” day off to take time out for themselves.

    Another option may be assessing your flexible working policy. Since the pandemic began, companies now proudly display their “hybrid” policies on job advertisements — but requiring people to come into the office four days a week on specific days, with one day from home, isn’t true flexibility. What is your policy, and does it really support people’s needs?

    2. Seek to understand the needs of your employees

    Employees with diagnosed mental health or neurodivergent conditions often fear discrimination or bias or are concerned about stigma. To create a safe and inclusive environment, organizations should provide training and education on mental health and neurodiversity for managers and leaders, and ensure policies and practices are in place to prevent discrimination and bias. Managing a diverse workforce well involves learning about these differences and how they impact interpersonal relationships, communication, productivity and wellbeing.

    Support can come in many forms, but what is it that your workforce needs? This is best decided by speaking directly to your employees or doing a staff survey, to explore which parts of the culture are seen as conducive to mental wellbeing and what needs improving.

    Companies could also use mental health ambassadors to create focus groups around what they believe the company can or could do to improve its commitment. Once you have a working group, you could set up monthly workshops on different themes: belonging, inclusivity, mental health days and burnout. It’ll bring people together and gather honest feedback.

    3. Lead by example

    Modeling healthy behaviors is a crucial step in prioritizing mental wellbeing at work. Many employees may be told they don’t need to work late or answer emails on the weekend – but if they see their manager doing so, they take that as a hint that it’s the best way to be at work. It’s no good saying you support mental wellbeing and a healthy work-life balance if you don’t model it. But by doing so, your staff will feel it’s acceptable to prioritize self-care and set boundaries.

    Related: Entrepreneurship Is All About Overcoming Obstacles

    Don’t worry so much about improving your team’s mental health that you forget about your own. Let them know if you’re leaving early to get some much-needed downtime. Remind them that you go for a walk in the middle of the day to gain some clarity (plus exercise and fresh air), or let them know when you’re entirely switching off your emails and laptop in the evenings and for your vacation.

    4. Create a culture of connection

    An excellent way to commit to an ongoing conversation about mental health in the workplace is to build and nurture a culture of connection through check-ins. You may already have one-to-ones with your employees — but how are these usually structured? Perhaps an update on their weekly tasks, deadlines and ideas for the future?

    Consider making mental health a part of these meetings. A study between Mind Share Partners, SAP, and Qualtrics in 2020 found that 41% of employees wanted their manager to ask them about their mental health and wellbeing. Of course, your job isn’t to be their counselor, but you can listen, learn, and identify if additional support is needed.

    A simple “How are you really doing?” or “What concerns do you have about work or outside work?” Let them know they can come to you if they have any worries or stressors, and you can work together to address their concerns.

    Related: Why Your Mental Health Is the Key to Your Success in Business

    As always, an investment in mental health — like any investment into a company’s culture — takes time. But it also requires the whole company’s deep commitment and belief that it’s needed. By investing in the wellbeing of their workforce, businesses benefit in many ways, ensuring long-term success in an increasingly competitive market.

    [ad_2]

    Dr. Samantha Madhosingh

    Source link

  • Why You Need Your Employees’ Help to Create a Winning Return to Office Plan | Entrepreneur

    Why You Need Your Employees’ Help to Create a Winning Return to Office Plan | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Picture this: You’ve just spent a year working remotely, and now your company is transitioning to a hybrid work model. Yet they’ve not asked you to help create this model: no surveys, no focus groups, no all-hands meetings where you had a voice. How would you feel? Probably the way many employees at Amazon, Starbucks, Disney, Apple, and Lyft do: outraged and frustrated, resistant and non-compliant.

    Imagine wearing a suit tailored for someone else. It’s uncomfortable and ill-fitting, isn’t it? That’s precisely what happens when organizations impose a one-size-fits-all hybrid work model upon their employees. In a recent Gartner survey, 14% of digital workers prefer their hybrid work environment to be mandated. However, the majority (77%) desire a say in creating their hybrid work model.

    It’s crucial for leaders to let their employees co-create the hybrid work model, as I always tell my clients, in the return to office. Why? Because engagement, retention and productivity are at stake — and that means the future of your company.

    Hybrid work models: One size doesn’t fit all

    Just like an orchestra with musicians playing different instruments, a hybrid workforce consists of employees with varying needs and preferences. The key to a harmonious performance is a conductor who allows each musician to contribute their expertise and create a masterpiece. In the same vein, when organizations involve employees in designing their hybrid schedules, they unleash the potential for a truly harmonious work experience.

    Organizations must acknowledge that employee needs have shifted and respond thoughtfully to maintain productivity and avoid attrition. After all, a well-tailored suit makes you feel confident and ready to conquer the world. By co-creating a hybrid model, employees feel more invested in their work, driving their engagement and productivity to new heights.

    Finding the right hybrid model is like cooking the perfect dish. It requires the right mix of ingredients, tailored to individual tastes, to create a delectable culinary experience. When employees contribute to designing their hybrid schedules, they can find the perfect balance between remote work and in-office days, catering to their personal and professional needs. This results in a more satisfied, motivated and productive workforce.

    A successful hybrid model is like a well-prepared potluck, where everyone brings their favorite dish to the table. By encouraging employees to participate in creating their hybrid schedules, organizations foster a sense of collaboration and mutual understanding. This leads to a more engaged workforce, as employees feel their opinions are valued and taken into account.

    Additionally, involving employees in the process promotes trust and transparency. This level of openness can reduce the likelihood of miscommunication or misunderstanding, further boosting employee satisfaction and commitment to the organization.

    Related: You Should Let Your Team Decide Their Approach to Hybrid Work. A Behavioral Economist Explains Why and How You Should Do It.

    Unleash the power of the perfect hybrid meeting

    If hybrid meetings were a dish, they’d be a poorly mixed salad, with soggy lettuce and too much dressing. They’re ranked as the second-least productive type of meeting by the respondents to the Gartner survey, with 47% of digital workers preferring virtual meetings with audio and/or video. In-person meetings, on the other hand, are seen as the most productive (46%). It’s time to make hybrid meetings as appetizing as a well-prepared meal.

    Digital workplace leaders must facilitate productivity in hybrid meetings by ensuring all participants can see and hear everyone clearly, interact with in-meeting content sharing and conversation, join with just one button or link, and seamlessly move across operating systems and devices. So, let’s toss that salad properly and enjoy every bite.

    By allowing employees to contribute to shaping their hybrid work model, organizations can better understand their employees’ preferences when it comes to meetings. This, in turn, can help refine the approach to hybrid meetings, making them more effective and enjoyable for all involved. When employees have a say in crafting their hybrid schedules, they can better balance their time between virtual and in-person meetings, optimizing productivity and engagement.

    Employee monitoring: The double-edged sword

    Employee monitoring is like having a camera crew following you around, capturing your every move. It can be invasive and disconcerting, especially when it’s driven by mistrust. However, when approached with the highest level of trust, employee monitoring can provide valuable insights into productivity and work outcomes. In fact, the Gartner survey finds 96% of employees are more willing to accept monitoring if it leads to assistance that benefits them. So, let’s turn that invasive camera crew into a supportive production team.

    Progressive organizations are pursuing radical transparency around data collection, giving employees an opportunity to opt-in to information and data gathering. When monitoring is seen as a tool for support rather than control, employees are more likely to embrace it and thrive.

    By involving employees in the development of their hybrid schedules, organizations can foster a sense of trust and collaboration. This, in turn, makes employees more receptive to monitoring initiatives that aim to improve their work experience.

    Return to office: A smorgasbord of motivators

    Returning to the office is like attending a buffet with a diverse array of dishes. Gartner’s survey revealed a variety of motivators for digital workers to return to the office, including “facetime” (40%), workplace amenities (45%), and consequences (10%). Companies need to recognize that different employees have different tastes and should not force them to consume the same bland dish.

    As the workplace evolves, so does the employee experience. HR must partner with digital workplace leaders to craft the desired digital employee experience that caters to individual needs and preferences. When employees can choose their favorite dishes, they’ll be more motivated, engaged and productive.

    Involving employees in the creation of their hybrid schedules allows organizations to better understand their employees’ motivations for returning to the office. This understanding can help tailor the office environment and experience to accommodate the unique needs and preferences of each worker, ultimately increasing employee satisfaction and retention.

    Related: 78% of Employers Are Using Remote Work Tools to Spy on You. Here’s a More Effective (and Ethical) Approach to Tracking Employee Productivity.

    The invisible barriers to co-creation

    When it comes to involving employees in creating their hybrid work schedules, some leaders may unknowingly fall prey to cognitive biases. These mental shortcuts can cloud judgment and hinder effective decision-making, leading to suboptimal outcomes. Let’s examine two specific cognitive biases that may prevent leaders from seeking employee buy-in for co-creating hybrid work schedules: the status quo bias and the empathy gap.

    The status quo bias is a cognitive bias that causes individuals to prefer the current state of affairs over change. It’s like eating the same dish every day because you know you like it, even if there’s a more delicious option out there. This bias can prevent leaders from considering new approaches to hybrid work schedules, as they might feel it’s safer to maintain existing practices.

    Leaders affected by the status quo bias may be reluctant to give employees a say in shaping their hybrid work schedules, fearing that it may disrupt established routines and processes. However, by sticking to the familiar, leaders may overlook the significant benefits of employee engagement, retention, and productivity that come from co-creating hybrid work models.

    To overcome the status quo bias, leaders should remind themselves of the importance of adapting to the changing work landscape and the potential rewards of involving employees in the decision-making process. By embracing change and stepping out of their comfort zones, leaders can create an environment that fosters innovation, collaboration, and success.

    The empathy gap is a cognitive bias that causes people to struggle to understand others’ emotions and needs when they’re not experiencing the same feelings themselves. It’s like trying to describe the taste of a delicious dessert to someone who’s never tried it before. This bias can create a disconnect between leaders and employees, leading to a lack of understanding of the importance of co-creating hybrid work schedules.

    Leaders affected by the empathy gap may underestimate the value that employees place on having a say in their hybrid work schedules, assuming that their preferences align with those of the organization. This could result in a top-down approach to hybrid work models, which may negatively impact employee engagement, retention, and productivity.

    To overcome the empathy gap, leaders should make a conscious effort to empathize with employees and understand their perspectives. This can involve engaging in active listening, seeking feedback and genuinely considering employee input when making decisions about hybrid work schedules.

    By recognizing and addressing the impact of cognitive biases like the status quo bias and the empathy gap, leaders can make more informed decisions and ensure that they’re not inadvertently hindering employee buy-in for co-creating hybrid work schedules. In doing so, they can create an environment that supports collaboration, innovation and growth, setting the stage for a truly successful hybrid work model.

    Conclusion

    The hybrid work revolution is here, and it’s essential for organizations to allow employees to have a say in creating their hybrid schedules. By doing so, they’ll foster engagement, retention and productivity. By transforming hybrid meetings, adopting a collaborative approach to employee monitoring, and understanding the diverse motivators for returning to the office, organizations can create a harmonious and effective hybrid work environment. Co-creating the hybrid work model with employees is like composing a beautiful symphony. It allows each individual to play their part, contributing their unique skills and expertise to create a harmonious and productive work experience. By empowering employees to participate in shaping their hybrid schedules, organizations will reap the rewards of an engaged, motivated, and high-performing workforce, ready to face the challenges of the modern business landscape. Embrace the hybrid work revolution and let your employees be the conductors of their own success.

    [ad_2]

    Gleb Tsipursky

    Source link

  • 5 Ways Startups Can Leverage Tech Layoffs to Attract Top Talent | Entrepreneur

    5 Ways Startups Can Leverage Tech Layoffs to Attract Top Talent | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The initial wave of tech layoffs captured global headlines with a sense of shock and awe, and according to Nerdwallet, in 2022, more technology workers were laid off than in 2020 and 2021 combined. While big tech itself has laid off unprecedented numbers in a very short span and continues to navigate various economic headwinds, the broader tech industry continues its focus on innovation and strategic growth.

    These signals do not mean that the overall employment economy is bad nor are reflective of the broader talent market. According to Zip Recruiter, 37% of those laid off in the tech industry found a new job within one month, and 79% found a new job within three months, which underscores the many opportunities available. Additionally, quit rates remain the highest in over 20 years and unemployment stands at a steady 3.4%-3.7%, an incredibly low range. These tech employees are also looking into other industries – CNBC notes that many other sectors such as health care, education and government are experiencing a never-before-seen level of interest from top tech talent. Small and mid-cap tech companies are similarly experiencing newfound popularity.

    Related: Why Companies Must Leverage Outsourced Development Teams to Weather Economic Downturns and Layoffs

    Top employees who found themselves suddenly unemployed can still remain in the driver’s seat. The talent wars may be less drastic than a year ago, but they do still exist. This creates a tremendous opportunity for early-stage growth companies to reflect on recent events and look inwards at their culture to ensure they are best positioned to attract some of this talent. The ability of startups to hire and retain these resources could be a key determinant of future success. Yet, it’s not a done deal.

    Early-stage companies are unlike most other businesses in the market in that they have the flexibility to quickly pivot and innovate their culture. To attract and retain this newly available (and incredibly smart) talent looking for opportunities, startups must implement a set of key practices and procedures that will enable them to stand out from the pack.

    Here are five strategies they can consider to position themselves for lasting human capital success:

    1. Embrace hybrid and remote work environments

    Offer hybrid and remote work flexibility options. Not only will this provide a broader geographical base to hire from, but it will actually encourage diversity in the workplace. As Aki Cho points out in her article “The Reason Bosses are Freaked out by Remote Work,” hybrid and remote work environments will cater to a workforce that is more ethnically and gender diverse.

    2. Create a collaborative and flexible co-working space

    Early-stage companies need to break down the walls that siloed offices were once surrounded by. The office needs to become a place that employees want to visit versus have to visit. Startups can rethink the purpose of the office, designing with collaborative structures and making the décor inspirational and welcoming. In addition, there is an opportunity to extend open hours, allowing for early birds and night owls alike to have a place to operate during the time frame that they are naturally wired to perform best.

    Related: Your Tech Employees Are Your Most Potent Reputational Tool as Your Firm Recruits

    3. Offer liberal equity packages and clearly define vesting schedules

    Most employees at big tech companies own a very small piece of a very large pie. By joining a startup, they now have the opportunity to own a meaningful part of their company’s success. Offer generous equity packages, encouraging employees not only to join feeling like co-founders but also to find a longer-term commitment to success. Clearly articulate your company’s vesting schedule and communicate the value through frequent valuation exercises. Extend top-ups when goals are met and the company meets clearly defined and well-communicated metrics.

    4. Create and communicate vision, mission and values that stand for something different

    Early-stage companies have an opportunity to stand out from the big tech pack. Create a vision, mission and values set that represents clarity, aspiration and inclusivity. Develop a clear communications plan and incorporate it into employee hiring, onboarding and retention materials. Stories of laid-off employees attest to their feeling anonymous, overlooked and undervalued. A clear communications plan will serve as the first step to proving it will be different this time around.

    5. Be purposeful in hiring

    Many tech companies experienced massive growth during the pandemic. According to CNN Business, some grew by as much as 100%, just in the 2019 – 2022 time frame alone. As these same companies are now reducing their workforces in record numbers, those terminated are concluding that their hires were based on reactive growth, not properly thought through. Many feel as though they didn’t matter. Early-stage companies can tell a different story by clearly defining the roles they are hiring for, implementing a reasonable company-wide hiring plan and holding themselves accountable for longer-term retention of those they bring on board.

    As the tech layoff trend continues, next-generation leaders are realizing that this time around it’s more than transactional. Affected employees are reflecting on their experiences and reframing their definitions of a meaningful career. It can be argued that startups are best positioned to address this newfound north star; they are nimble, collaborative and able to present the most ownership-oriented reward structure. With intentional planning, focus and ongoing championship, early-stage leaders can leverage this unique hiring opportunity to build best-in-class teams that set the foundation for lasting success.

    [ad_2]

    Kalon Gutierrez

    Source link

  • Debunking the 5 Myths of Hybrid Work | Entrepreneur

    Debunking the 5 Myths of Hybrid Work | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Employers, beware: There’s a slew of misinformation about remote and hybrid work floating around. If you don’t separate fact from fiction, your company’s future might look as bleak as a polar bear stranded on a melting iceberg.

    Don’t be that polar bear. As an expert in hybrid and remote work with over 22 years of experience, I’ve guided 23 companies in just the last three years through adopting a successful return to office and hybrid work arrangements. Using best practices gained from this experience, you can make well-informed decisions that will benefit both your employees and your organization on hybrid and remote work.

    Myth #1: Hybrid work inevitably leads to lower productivity

    Picture yourself in your favorite pair of pajamas, lying on the couch with your laptop. You might think that this is the epitome of hybrid and remote work productivity, but you’d be sorely mistaken. Remote work doesn’t necessarily lead to lower productivity levels.

    On the contrary, studies show that hybrid and remote workers generally have higher productivity rates than their in-office counterparts. It’s not about the location; it’s about setting clear expectations, providing the right tools, and fostering a culture of trust and accountability.

    Related: A Pervasive Myth Employers Believe That Is Hurting Their Remote Workforce

    Myth #2: Hybrid work is just an excuse for slacking off

    This myth is as absurd as suggesting that mixing oil and vinegar creates a new element. Hybrid work is not an excuse for employees to slack off. Instead, it’s a flexible arrangement that allows employees to optimize their work-life balance and maximize their productivity.

    When implemented properly, hybrid work gives employees the best of both worlds: The social interactions of the office and the focus of remote work. The key is to create a structured hybrid work policy and ensure that employees understand their responsibilities, regardless of their location.

    Myth #3: Collaboration and innovation suffer in hybrid work models

    Think of remote and hybrid work as a game of musical chairs. When the music stops, and everyone settles into their virtual seats, collaboration and innovation can still flourish.

    It may require adopting new techniques to ensure that remote employees can innovate effectively, but technology has made it possible to bridge the gap. Video conferencing, project management tools, and instant messaging apps can help maintain the flow of communication and collaboration. It’s essential to establish an environment where every voice is heard and diverse perspectives are valued.

    Myth #4: Hybrid work leads to disconnected and disengaged employees

    Disconnecting remote and hybrid workers from their colleagues is like trying to separate conjoined twins with a butter knife – it’s neither easy nor advisable. With the right strategies in place, employees can remain connected and engaged, regardless of their work location.

    Encourage regular check-ins, create virtual water cooler moments, and promote a strong company culture. Remember that empathy, understanding, and open communication are the lifeblood of a connected workforce.

    Myth #5: The traditional office model is best

    If you believe that sticking to the traditional office model is the safest bet, you’re like a captain refusing to abandon a sinking ship. Times have changed, and so have employee expectations.

    Offering remote and hybrid work options can help attract top talent, improve employee satisfaction, and increase retention rates. Companies that fail to adapt to the new normal risk being left behind like relics from a bygone era.

    Tackling misinformation head-on: The key to success

    Like a skilled magician debunking a seemingly impossible illusion, it’s time for employers to confront these myths and reveal the truth about remote and hybrid work. By acknowledging and addressing the misinformation, you can create a work environment that fosters productivity, innovation, and employee satisfaction — while securing your company’s competitive edge in the ever-evolving business landscape.

    It’s time to let go of outdated assumptions and embrace the future of work. Remote and hybrid work models are here to stay, and companies that adapt, innovate, and create a culture of trust and flexibility will thrive in the long run. So, how can you make this happen? Here are a few steps to get you started:

    Step 1: Develop a clear hybrid work policy

    A well-crafted hybrid work policy sets the foundation for success. Be explicit about expectations, including work hours, communication protocols, and performance metrics. Establish guidelines on when employees should work in the office, and make sure to be inclusive and fair in your approach.

    Related: Employers: Hybrid Work is Not The Problem — Your Guidelines Are. Here’s Why and How to Fix Them.

    Step 2: Provide the right tools and support

    Equip your employees with the necessary tools and resources to succeed in a remote or hybrid environment. Invest in reliable technology, provide access to collaboration platforms, and ensure that employees have a comfortable and functional workspace.

    Step 3: Foster a culture of trust and accountability

    Trust and accountability are the glue that holds remote and hybrid teams together. Encourage open communication, provide regular feedback, and empower employees to take ownership of their work. Trust that your team members will deliver, and hold them accountable for their performance.

    Step 4: Prioritize employee wellbeing and connection

    The wellbeing of your employees is paramount in a remote or hybrid setting. Provide mental health resources, encourage work-life balance, and create opportunities for employees to connect and bond with one another. Virtual team-building activities, casual online gatherings, and regular check-ins can all help maintain a strong sense of camaraderie and support.

    Step 5: Continuously review and refine your strategy

    As the world of work continues to evolve, it’s crucial to remain agile and open to change. Regularly review your remote and hybrid work policies and strategies, gather employee feedback, and make data-driven decisions to ensure your approach stays relevant and effective.

    Conclusion

    The path to debunking remote and hybrid work myths may not be as smooth as a freshly Zamboni-ed ice rink, but with determination, foresight, and a willingness to embrace change, you can steer your organization toward a future of success and growth. Don’t let the myths hold you back – embrace the new era of work and watch your company soar to new heights.

    [ad_2]

    Gleb Tsipursky

    Source link

  • 3 Overarching Reasons Why People Quit Their Jobs — and How Employers Should Address Each One | Entrepreneur

    3 Overarching Reasons Why People Quit Their Jobs — and How Employers Should Address Each One | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Employee turnover is a serious problem that can have a significant impact on an organization’s success. It not only leads to a loss of productivity and knowledge but also has financial implications. However, turnover is not just a symptom of a revolving door of employees. It’s often a symptom of deeper issues that employers need to address.

    Here are three of the biggest reasons why employees quit — and what employers can do about it:

    Related: 7 Ways to Retain Employees

    Bad management

    A good manager can make all the difference in employee job satisfaction. A supportive, communicative and invested manager can create a sense of belonging and purpose for their employees. On the other hand, a distant, unresponsive and critical manager can make even the most enjoyable job unbearable.

    According to a Gallup poll, only one in ten people have the necessary skills to manage others effectively. Employers must invest in good management training and promote from within to reduce turnover and improve overall morale. By providing managers with the skills and traits necessary to be effective leaders, employers can create a more positive work environment, reduce stress and increase productivity.

    The importance of good management cannot be overstated. Studies show that the relationship between an employee and their manager is one of the most significant predictors of job satisfaction and retention. In fact, according to a survey by Harvard Business Review, 58% of employees said that they would trust a stranger more than their own boss.

    Effective communication is one of the key traits of a good manager. Clear and concise communication can help to avoid misunderstandings, increase transparency and create a culture of trust. Managers should also be approachable and receptive to feedback from their employees. By creating an open and inclusive environment, they can help employees feel valued and supported.

    Inflation, cost of living, income

    Another major reason why people quit their jobs is financial concerns. As the cost of living increases, wages may not keep up with inflation, and employees may feel that they can no longer afford to stay in their current job. While salary isn’t the only factor in job satisfaction, it’s certainly an important one.

    Addressing this issue means regularly reviewing their compensation packages and adjusting salaries to ensure they remain competitive. Offering benefits such as healthcare, retirement plans and paid time off can also help to improve overall job satisfaction and retention.

    Employers should be aware that employees may be looking for other opportunities if they feel that their compensation is not competitive or if they are not receiving fair compensation for their work. In today’s job market, employees have access to a wealth of information about salaries and benefits. This means that employers who fail to offer competitive compensation packages are at a higher risk of losing their top talent to other companies.

    Related: How Employee Retention is Impacted by Various Leadership Styles

    Drinking the kool-aid vs. being in love

    Lastly, employees may quit their jobs because they feel they need to be more fulfilled or connected to their work. This can happen when employees feel they’re just “checking the box” or going through the motions, without any sense of purpose or fulfillment.

    Similarly, employees may become disillusioned when they realize they’re not passionate about the product or service they’re selling. They may feel like they’re just promoting something they don’t believe in.

    Fostering a sense of purpose and meaning can build trust between you and your employees. This is achieved by regularly communicating the company’s mission and values — and by providing opportunities for them to get involved in meaningful projects and initiatives. When they feel connected to the company’s mission and values, they’re more likely to be engaged and motivated to stay with the company.

    The reasons why people quit their jobs are not trivial matters. Employers must take a critical approach to these issues, recognizing that they have a significant impact on their organization’s success. By investing in good management, addressing financial concerns and fostering a sense of purpose and meaning in their work, employers can reduce turnover and improve overall job satisfaction.

    Employers who take a proactive approach to reduce employee turnover are more likely to retain their top talent, which can lead to improved productivity, increased innovation and a stronger reputation in the market. In today’s competitive business environment, companies that fail to invest in their employees and their work environment risk losing their competitive edge.

    Reducing employee turnover requires a holistic approach that addresses the underlying reasons why people quit their jobs. By taking steps to improve management practices, address financial concerns and foster a sense of purpose and meaning in the work employees do, employers can create a workplace that attracts and retains top talent. This not only benefits the company but also benefits the employees who feel valued and fulfilled in their work.

    Related: From the Great Resignation to Quiet Quitting, Here’s Why Good People are Really Leaving and How to Keep Them.

    [ad_2]

    Roy Dekel

    Source link

  • Why People-Focused Leaders Are Crucial to Overcoming a Recession | Entrepreneur

    Why People-Focused Leaders Are Crucial to Overcoming a Recession | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    As economists and financial leaders continue to debate the possibility of an economic recession in 2023, there is little doubt this hot topic is creating a great sense of uncertainty for businesses and a disruption in the workforce. While companies are likely focused on continuing operations, workers are on edge for professional and personal reasons, leading to distracted employees and reduced performance that affects the bottom line.

    Although economic indicators fluctuate, and recession forecasts are ever-changing, savvy business leaders understand the unwavering foundation of their business is people – a company’s greatest asset. Successful leaders emphasize taking care of their people — in good times and bad — to stay the course, leverage opportunities and weather any storms, leading to more resilient companies anchored by an engaged, secure workforce.

    Below are three ways people-focused business leaders can address recessionary concerns to make employees feel safe.

    1. Practice clear communication

    In a world of 24-hour news cycles filled with dynamic views about a recession, it is not surprising that employees may feel confused and concerned about the economy and their employer’s stability. Human nature dictates that workers will naturally rely on those they trust. They look to leaders for clear communication, guidance, reassurance and a path forward to help alleviate any fears.

    While practicing clear communication is key in all business situations, it is even more critical during times of uncertainty, which employers and employees are all too familiar given the last three years. Prior communication strategies serve as a solid knowledge base to inform current decision-making tactics.

    Leaders should consider what worked, what didn’t and areas for improvement. Frequent, clear and consistent communication throughout the company can help to reinforce the company’s position and its vision forward. Hence, employees feel secure and free to focus on the tasks at hand. For example, acknowledging recessionary concerns and sharing insights through CEO video messages/all-employee meetings, manager updates during team meetings with time for employee Q&As and relevant content/links posted on the intranet are ways for leaders to keep workers informed and to help them feel more secure.

    Related: 3 Steps to Help Employees Understand Your Objectives and Expectations

    2. Promote  the  culture

    A strong corporate culture can be a differentiating factor during uncertain times because employees need to feel supported and cared for by their work family, providing a critical sense of belonging that leads to camaraderie and a united front as everyone faces the possibility of an economic recession together. Therefore, promoting the culture by reinforcing existing policies, programs and benefits, or creating new ones, should be top of mind for business leaders.

    When leaders make a concerted effort to understand employee wants and needs regarding particular situations – similar to offering more flexible scheduling during the pandemic – it can go a long way toward cultivating an environment in which employees feel appreciated and leads to a confident, engaged workforce.

    For example, many employee assistance programs (EAPs) offer access to financial resources, mental health and well-being programs, and personal or professional guidance free of charge to employees and family members. Another way to support employees is through financial wellness programs that delve into developing a budget, reducing debt, understanding credit and saving for college or retirement, which can help employees gain more confidence in managing their finances.

    Related: How Leaders Should Think About Employee Benefits

    3. Offer unique financial perks

    Although the economy is uncertain, the still-tight labor market is a valid concern for many organizations. Therefore, offering unique financial perks is one way to attract and retain top talent. When employers think outside of the box by providing benefits to help ease employees’ financial burdens, it not only acknowledges economic concerns but also demonstrates empathy because leaders understand what it is like to feel financial stressors.

    There are numerous ways companies can provide financial assistance to support employees while standing out as a great workplace. For example, employers might consider offering employees lump-sum financial benefits workers can use at their discretion for groceries, gas, elder/child care, utilities and other living expenses. Additional areas to consider are assistance with student loan repayments, tuition reimbursement, access to short-term loans and company match on 401(k) accounts. When employers go above and beyond to address financial issues, employees take notice and realize business leaders have their best interests at heart.

    As business leaders face the possibility of a recession, their number one priority should be taking care of their people — the lifeblood of a company’s existence — to help ensure they feel informed, supported and secure in the workplace.

    Related: Employee Perks Might Not Be As Effective As You Think They Are

    [ad_2]

    Steve Arizpe

    Source link

  • Co-Founder Reveals the Secret to a Nearly 100% Retention Rate | Entrepreneur

    Co-Founder Reveals the Secret to a Nearly 100% Retention Rate | Entrepreneur

    [ad_1]

    From the start, Washington, D.C.-based fashion retailer Tuckernuck has done things differently.

    Its co-founders Jocelyn Gailliot, Madeline Grayson and September Votta were tired of buying clothes from cookie-cutter, big brand retailers — the “J. Crews” of the fashion world that seemed to dress everyone “in the same thing from head to toe.” So in 2011, they decided to do something about it.

    “We just wanted to create a brand that was easily shoppable,” Gailliot, who worked in investment banking and private equity before founding Tuckernuck, says. “You could go on the site and discover tons of different brands, small as well as big established ones. And it was a brand that was really aspirational but attainable. It was friendly. It wasn’t a place that was intimidating.”

    Eager to go all in, the trio joined the incubator 500 Startups, now 500 Global. The women moved across the country and shared a bedroom in Mountain View, California for six months. There, donning white denim and blue and white stripes, they stood out as “anomalies” among mostly tech founders.

    But it was the push Tuckernuck needed to get started. The co-founders recruited creative director Sophia Newbold, invested in a camera to shoot their products, gave Shopify a go (“this new website that people hadn’t really used before” at the time) and launched their company with just $500, moving back to D.C. to open their first office above Gailliot and Grayson’s parents’ garage.

    In the years since, Tuckernuck’s team has expanded from its original three to a “small but mighty” 78 as the company continues to grow and put D.C. on the fashion map. Tuckernuck developed an in-house fashion label and transitioned from strictly direct-to-consumer to include a brick-and-mortar store in D.C. — with plans to expand.

    Image credit: Courtesy of Tuckernuck

    But one of Tuckernuck’s most impressive accomplishments to date is something many companies consistently struggle with: retention. Twenty-five percent of Tuckernuck’s employees recently celebrated their fifth anniversary with the company, which has retained nearly 100% of its employees over the past few years. The company saw 100% retention in 2020 and 2021 and 98% retention in 2022.

    That’s no small feat considering how much the pandemic and subsequent Great Resignation have shaken up the workforce. Last year, Gartner predicted that U.S. total annual employee turnover would likely jump by nearly 20% over prepandemic levels — with an expected 37.4 million people quitting.

    Related: This Founder Is Using AI to Solve Fashion’s Biggest Problems

    Entrepreneur sat down with Gailliot to learn how the company kept its employees invested from the beginning — and still does.

    Look for the smart, creative, scrappy hire

    In Tuckernuck’s early days, Gailliot says the company prioritized hires who were smart, creative and “would be okay with working above a garage.”

    “Those early stages were very vulnerable,” Gailliot explains, “so in the beginning, you’re just looking for people who believe in your vision and in you as a leadership team and just want to be a part of it. And a lot of times, that’s your friends.”

    One of Tuckernuck’s earliest hires, Emily Hayes, was a friend of Gailliot and Grayson’s younger brother; she was “willing to babysit [Gailliot’s] newborn” and tackle a range of office and customer experience essentials — and now runs all operations for the company.

    “Every person we brought on was because they were a great culture fit,” Gailliot says. “They believed in the vision, and they were scrappy. That entrepreneurial spirit is core to our business.”

    Today, Gailliot considers all of Tuckernuck’s employees “100% family.”

    “We’ve all become so close,” she says. “Our creative director married my brother’s business partner; that hire Emily Hayes married my sister’s brother-in-law. We’ve all grown up together, and to this day, we’re very conscientious when we make those hires: Is this someone who will stay up late with us and [be willing to] hit the road and go on trunk shows and carry things around?“

    Related: What Is ‘Quiet Hiring’? And How You Can Use It To Your Advantage.

    Get serious about professional development

    Tuckernuck wants its employees to grow and excel professionally, Gailliot says.

    The retail industry is interesting because it touches “every part of business,” Gailliot explains — from marketing to operations, logistics, product design, digital technology, digital customer positions and more. As a result, every employee should recognize how crucial he or she is to the company’s success.

    Being “very transparent” with numbers and statistics is an essential part of that, ensuring everyone is on the same page. “We believe that everyone, from the new hire to the more executive hire, should know all about what these sales targets, goals and metrics are, and they need to know the bigger picture so that they can be better professionally,” Gailliot says.

    Accordingly, Gailliot and her co-founders believe that the benefits of so much transparency outweigh any potential pitfalls.

    “I know at times it could be a risk to provide that much information to everyone on the team,” she admits, “but we think that it’s also what keeps everyone feeling motivated and feeling like whether it’s a small or a big role they play, it’s an important role — always.”

    Related: 5 Ways to Build a Culture of Transparency | Entrepreneur

    Keep lines of communication open — and listen to the people you hire

    Tuckernuck’s leaders strive to be mentors to their employees — and don’t ever want them to feel like they’re “hiding in a glass tower.”

    “We really are all about being a team,” Gailliot says. “We’re really collaborative, and they see the dirty things behind the scenes.”

    And a lot has unfolded behind the scenes since the company’s founding; Gailliot has become a mother of five, and Grayson and Votta have five children between them too. Balancing work and motherhood isn’t “always pretty,” Gailliot says, but she and her co-founders are proud to model that dynamic — to prove it’s possible to have a fulfilling personal and professional life.

    On the other side of the coin, Tuckernuck wants to learn from its employees as well. One sure way to do that? Making sure to listen to them.

    “We constantly ask questions,” Gailliot explains. “I’ve been in industries before where it’s very much: ‘This is the role you play at these different hierarchical levels.’ And for us, it’s always been: ‘You’re on the team — you have amazing ideas to contribute, and we want to hear them.’ And we really do.”

    Related: The Most Successful People in the World Ask Questions Constantly

    Find the fun

    Alongside its commitment to hiring for culture fit, prioritizing professional development and emphasizing open communication, Tuckernuck has a motto that keeps its employees coming back for more: “Find the fun.”

    Finding that fun was especially important to Gailliot, who “didn’t take a vacation for two years” during her time in finance. “We want to make sure that what we’re doing is fun,” Gailliot explains. “It’s hard work; everyone puts in a lot of hours, but it’s really fulfilling, and we try to always be able to laugh at things.”

    Related: Want to Be Successful? Have Fun. Seriously. | Entrepreneur

    That levity is woven into a culture of honesty, opportunity and kindness, Gailliot says, which often surprises people who join the company — whether they have a background in fashion or not. “We have a lot of people coming to us because they’re leaving other industries where they may not be feeling as excited,” Gailliot explains. “And when they’re leaving, this is one of the industries or one of the brands that they’re feeling a connection with and wanting to be a part of.”

    Over the past year alone, Tuckernuck’s employee base has more than doubled, and though the smaller, close-knit team that could “finish each other’s sentences” has grown considerably, the company’s stellar retention rate speaks to its strategic hiring and consistent values.

    [ad_2]

    Amanda Breen

    Source link

  • 3 Key Insights on Retaining Quality Talent | Entrepreneur

    3 Key Insights on Retaining Quality Talent | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Building a successful business comes with a myriad of challenges, but I’ll argue that retaining amazing staff over long periods of time is in the top three … but not for me.

    In 2022, about 50.5 million Americans quit their jobs, which was 2.7 million more than the number of Americans quitting in 2021, the U.S. Bureau of Labor Statistics (BLS) reported. But even more shocking is the fact that both 2021 and 2022 were record-breaking years respectively, seeing the highest numbers of quits in history since the BLS started tracking the figure back in 2001. These are the years economists are calling the “Great Resignation.”

    So, how does a business owner achieve the goal of attracting and keeping the best talent amidst these nationwide quitting trends?

    When I started my business, PostcardMania, my tiny team was made up of three people I trusted to help make my dream a reality — an assistant, a designer and a salesperson. My current president, Melissa Bradshaw, started out as my assistant at the early age of 19 in 1998 and now runs the core operations of my company. She has worked in almost every department at PostcardMania and is an incredible leader and friend.

    Selecting the right people is incredibly important, and it’s one of the reasons we have been able to increase our staff retention year over year — by 5% from 2021 to 2022. We even increased the number of people working long-term at PostcardMania (for five years or more) by 12%. And last but not least, we increased retention in our sales department — an area with notoriously higher turnover — by 15% last year.

    While reflecting on my 25-year journey of growing a three-person team to a 350-member team, three insights stand out to me as the ultimate keys to retaining quality talent. Follow them, and I bet you’ll witness a rise in overall employee happiness and a decrease in turnover.

    Related: Employee Retention: 4 Tips to Help Keep Your Top Talent

    1. Develop a mission statement for your business, and hire those who truly believe in it

    Arguably the most famous walk-out scene in cinema history is in Jerry Maguire, which is based on real-life sports agent Leigh Steinberg. In the movie, Jerry writes an impassioned, 25-page mission statement for the company he works for, Sports Management International, and then sends it to every employee.

    While the majority of staff applaud his work, it ends up getting him fired. As Jerry walks out of the office, he says he is going to start his own company and asks if anyone is willing to come with him to create something “…real, fun and inspiring.” He leaves with one person and a goldfish.

    Even though many of Jerry’s coworkers said they believed in his mission to focus on people first, only one of them took action and walked away.

    Do your current employees truly believe in your company’s mission statement, or are they just sitting in their chair for a reliable paycheck? Do you even have a mission statement or purpose?

    And I don’t mean something like this: “We provide the best customer service,” or “Our product is better than our competitor’s.”

    A mission statement should reach beyond just your business to encompass something that can benefit others — humankind, the planet, etc. — in a deep and meaningful way. This will help distinguish your business from a sea of other employers so that you aren’t competing on pay, benefits and other work incentives alone.

    At PostcardMania, our mission is to be the absolute best at helping small businesses master their marketing and achieve success so that they can grow, which in turn leads to more jobs and more money in our local communities — and it also strengthens our national economy. That is our company’s greater purpose, and we prioritize hiring people who truly believe in it.

    Whatever your mission is, make it clear and inspiring. Then ask candidates when they apply why they want to work for you and if they care about fulfilling that mission.

    I think Jerry Maguire nailed it when he said, “The key to this business is personal relationships.” Focus on building a loyal team of people who believe in what you are accomplishing, and they’ll stick with you for years, even decades, of their lives.

    Related: 3 Ways Leaders Can Boost Employee Retention

    2. Promote from within to ensure staff have something to strive for

    Even if your employees believe in your mission, they still may not stay if there isn’t room for growth in their careers. Giving your staff as many opportunities as possible to get promoted or learn a new role will give them incentive to stay.

    In 2022, we promoted 91 staff members to either manager roles or higher-paying positions, and 19 current employees were promoted to managers — we didn’t hire a single new manager; they were all internal promotions.

    First and foremost, I promote internally. Why? Because hard work should always be rewarded, and investing in your current employees will pay off in the long run. Plus, it’s just smart — they already know all about the company!

    You can accomplish this by following these steps:

    Analyze your staff’s strengths and weaknesses and leverage them to facilitate effective team management:

    A good starting point is to review every staff member’s role and then identify how that person can use their strengths to grow that particular role and overcome any weaknesses. It could be that the individual isn’t truly right for that role and needs to move into another area, they could need more training, or their tasks might need to be restructured to enact more efficiency. Let the individual know what they can do in order to succeed in their job, and a good team member will take steps to be better.

    Create new roles that team members can move into if needed, and always announce new internal promotions:

    Your employees may not even know they can get promoted. Show them they have the opportunity to move up by announcing promotions within the company and applauding everyone for their hard work. You can also tell them that you are willing to create a new managerial role for them if they work toward certain goals.

    Devise a step-by-step system that trains workers into managers:

    What does it take for your staff members to get promoted? Do they know what they need to do? I suggest creating a “pathway to management” course that employees are free to take and outlines for them exactly what it takes to enter a supervisory role. We did this a few years ago, and it’s great! It tells us who is truly interested in moving up! People don’t know what they don’t know, so make every opportunity for success available to them, and then it will be fully up to them to take it or not.

    Related: Why a Positive Company Culture Is the Key to Employee Retention

    3. Create a work environment that prioritizes praise and eliminates office politics

    One of the main reasons I started my own business was because I wanted to create a happy and healthy work environment where there was zero office politics and zero negative chatter. You may be doubtful that achieving this is even possible, but I created a Zero Office Politics Policy at my company, and I enforce it diligently.

    Basically, the policy is that employees are expected to be kind to others and work out conflicts directly as quickly as possible without office gossip or backstabbing behavior. The result has been nothing short of incredible as I have watched over the years as new and old employees show gratitude for creating a workplace that is drama-free.

    Not only have my employees shared with me how good it feels to come to work without office politics, but they also often admit how unappreciated they felt in their former jobs. Their bosses never once said, “Good job!” or “I appreciate you on our team.” Showing appreciation for your employees regularly is another key point to retaining staff. It doesn’t take a lot of time or effort, yet it can be easy to forget amongst the everyday hubbub of owning and running your own business.

    According to a Pew Research Center study, 57% of Americans quit their jobs in 2021 because they felt disrespected at work. Respect starts with valuing a person for their talents and capabilities and then showing it.

    Whether the employee is a star player or a work in progress, you can always find something that deserves praise. A simple “Hey, you did amazing on that project” could be the difference between whether the employee comes to work happy or miserable.

    Appreciation also doesn’t have to stay within the manager/employee relationship either. Give all of your staff opportunities to show appreciation for their coworkers, too! We set aside 15 minutes at our weekly company meeting to allow anyone to share accolades of the week. Some folks are shy about speaking in front of the group, so we encourage them to email their positive comments if that’s the case, and I read them aloud to the group.

    Verbal accolades are just the start, too. Develop a reward system where hard work results in gift cards, free lunches or other prizes.

    I asked my public relations director, who has been at the company for 13 years, why she has stayed, and she said, “It boils down to really responsive, open and caring management. I’ve never felt like I couldn’t discuss something with my boss, and it was nice to come into a positive and comfortable work atmosphere every day.” Your staff spend the majority of their lives at your company, so creating a positive, not oppressive, work environment is crucial to overall employee happiness.

    At the end of the day, if someone does decide to walk out of your company with their briefcase and a goldfish, at least you can say you did everything within your power to make their experience at your company rewarding and worthwhile.

    What do you think makes the biggest difference in employee retention? I hope you gained some insight from my experience as a business owner and try using these tactics in your workplace. Keep testing out different methods, ask for feedback, and never stop investing in the people who hang their hat at your business.

    [ad_2]

    Joy Gendusa

    Source link

  • See How New Learning Opportunities Can Drive Employee Retention with This $50 Bundle | Entrepreneur

    See How New Learning Opportunities Can Drive Employee Retention with This $50 Bundle | Entrepreneur

    [ad_1]

    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    If your business is struggling with employee retention, try opening up new avenues for professional development. In a recent survey of 400 employees spanning three generations, 70% said job-related training and development opportunities influenced their decision to stay with a company.

    Training your employees on advanced skills may be labor and resource intensive. But it could be a manageable cost with a subscription to StackSkills Unlimited, which gives you unlimited access to 1,000+ skills courses for life. Through April 3, you can get a lifetime subscription for only $49.97.

    StackSkills can offer your employees a chance to cultivate new skills that they could put back into the company. For example, if too much of the budget is going to outsourcing IT costs, a tech-savvy worker could enroll in any of the beginner and advanced IT courses and learn about coding, cybersecurity, network management, and more.

    Courses are organized by category and instructor, and there’s much to choose from. Productivity courses are a chance for employees to refine their work processes. Marketing and branding courses could help you grow your business, and the entrepreneurship courses could be a good fit for someone with management potential.

    Courses can be completed anytime, and users can track their progress as they learn. There are even offerings for leisure activities like music, art, and animation. The opportunity to control their growth trajectory could encourage your employees to stick with your business.

    It’s rated 4.5 stars out of five on Trustpilot and PCMag wrote, “Lifetime access to StackSkills Unlimited empowers you to discover your potential.”

    Grab a lifetime subscription to StackSkills Unlimited on sale for $49.97 (reg. $1,495) through April 3 at 11:59 p.m. PT. No coupon is needed.

    Prices subject to change.

    [ad_2]

    Entrepreneur Store

    Source link

  • Do You Know What Your Team Needs? Here’s How to Find Out. | Entrepreneur

    Do You Know What Your Team Needs? Here’s How to Find Out. | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Do you really know what your team needs? You may sometimes struggle to determine what motivates your team and how this affects their performance. The good news is that simple techniques give you a pretty good idea of what makes your employees tick. Here are five simple ways to find out what your team needs.

    1. Look for the telltale signs

    If you are unsure what your team needs, look for the telltale signs. Are they working long hours? Are they stressed? Are they not participating in office talks? Are they complaining about something in particular? If so, it might be time to take a closer look at what’s going on with your team.

    It’s important to remember that every team is different, and many factors contribute to each person’s happiness on the job — which means you need to figure out what makes each tick.

    Related: To Build a Strong Team, You Need to Address All of Your Employees’ Needs

    2. Take a pulse check

    One of the best ways to know if you have a healthy team is to take a pulse check. Set aside time for a team meeting, and ask each member to share what’s going well and what isn’t. It’s important not to criticize but rather listen and ask questions that help your team members share their perspectives without feeling like they are being judged or criticized.

    And then, take a look at what’s happening in your organization right now, and ask yourself: What do we need right now? Then, think about how that need was met in the past; if it wasn’t met, why not? If it was, how did it happen?

    Once you’ve done this introspection, you’ll have a clearer picture of your team’s needs and why they need it. This will help guide your next steps — whether hiring new people or making changes within existing roles — and help keep everyone on track with their goals!

    3. Look at your metrics

    You can’t figure out what your team needs if you don’t know how they perform. That’s why looking at metrics is so important. You can track things like employee churn and productivity, which will help you understand the strengths and weaknesses of your team.

    If you want to try this out, here are some quick tips:

    • Figure out which metrics are important to your business and how to measure them

    • Set up a system for tracking the data regularly

    • Make sure everyone knows about it

    Related: Your Employees Want to Be Heard — Listen to the Details That Matter

    4. Listen to cues

    Your team might not be the most vocal bunch, but if you pay attention to their behavior, you can learn much about what they need from you. If you’re constantly getting interrupted or having trouble getting your team to complete their tasks, it could be that they’re feeling overwhelmed. If they’re always late to meetings or don’t seem like they’ve got their heads in the game, it could be that they need more direction.

    Whatever the case, listen to cues and try to address them with empathy and compassion.

    5. Create a culture of feedback

    It’s important to provide your team with clear, constructive feedback that helps them grow and improve. However, it’s equally important to allow them to give you feedback on how they feel about their work and what they need to be more successful.

    One way you can do this is by creating a culture where it’s okay for people to share their thoughts — and not just when things go wrong. You might start by encouraging everyone to give feedback on each other’s ideas and projects or even just ask for direct feedback every day at the end of meetings or strategic points throughout the project cycle.

    You can also create an open forum where people can anonymously share their concerns or ideas. The key here is creating an environment where people feel comfortable sharing their thoughts and feelings, so they know they’ll be heard and respected no matter what they say!

    Related: How to Motivate Your Team Members by Putting Their Needs First

    Well, well, well, if you’ve made it to the end of this article, then you must be serious about being a great leader. And let me tell you, great leaders don’t just assume they know what their team needs — they take the time to find out.

    By implementing the five strategies outlined in this article — listening, observing, asking, testing and reflecting — you’ll be well on your way to understanding the unique needs and desires of each member of your team. And when you can meet those needs, you’ll be able to create a workplace culture that fosters growth, productivity and overall happiness.

    So, to all the bosses out there, stop thinking you know it all, and start taking action to truly understand your team. By doing so, you’ll earn their respect, trust, and loyalty — and that’s the ultimate power move.

    And never forget: The best teams have strong dialogue, rapport and trust. Because when team members know their goals and challenges, they can adjust their behaviors accordingly to meet their expectations.

    [ad_2]

    Chris Kille

    Source link