ReportWire

Tag: Employees

  • 5 Best-Practice Tips for Onboarding Remote Employees

    5 Best-Practice Tips for Onboarding Remote Employees

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Few companies pay enough attention to employee onboarding — according to a recent Gallup survey, only 12% of employees think their company does it well. And it’s clear that effective onboarding is crucial for both company productivity and employee retention: Successful onboarding can improve employee performance by up to 15% and means an employee is nine times more likely to stay with the company.

    Our organization supports companies all over the world with remote onboarding. Here, I want to highlight some onboarding practices that we have found useful both within our own team and when supporting other teams.

    Related: 4 Building Blocks for a Successful Remote Employee Onboarding Process

    What does remote onboarding cover?

    Standard employee onboarding covers all the steps that must be taken to set up a new employee to be successful within the company. This includes introducing new hires to the team, ensuring that they have the right equipment and providing training on key company policies.

    In remote onboarding, the process must be applied virtually, losing the in-person element which may make it easier to make employees feel at ease and welcomed. To succeed with remote onboarding, we recommend the following:

    1. Master “preboarding”

    “Preboarding” covers all those steps for setting up a new team member before the formal employment period begins. This includes:

    • checking that all contracts and additional documents (such as non-disclosure agreements) are signed

    • providing essential company documents and policies, such as the code of conduct and health & safety policies

    • ensuring the remote workstation is set up with everything the new hire needs to hit the ground running (e.g., the company laptop has been dispatched and accounts with all the necessary remote work software have been created).

    Nailing the preboarding process ensures that the employee can begin building momentum in their new role from the very first day of employment.

    2. Apply a culture of documentation

    In a traditional office environment, it is relatively easy for new hires to approach other staff and ask how things are done. This more casual approach doesn’t work in a remote-first work environment. Many prefer to work asynchronously (so may have limited availability), and Zoom fatigue means that many want to keep meetings to a minimum.

    This means, more than ever, the collective knowledge of the company needs to be documented and accessible for new staff. This should extend from process (e.g., how to use the employee HR portal or how to change passwords) to substantive knowledge for specific roles (e.g., sales scripts or answers to common customer queries).

    A documentation culture means:

    • a secure repository (we have found Confluence a useful tool for retaining information in a familiar ‘wiki’ structure)

    • regular updates, so that documents are a source of trust

    • access privileges, which means that employees can view and edit all documents that they need to, but access to sensitive information is restricted.

    Related: 4 Strategies to Successfully Onboard New Remote Employees

    3. Take cybersecurity seriously

    Remote work enlarges the potential “attack surface” of an organization — employees are likely to be working from non-secure connections and locations. This means they may be putting company IP or employee/customer personal data at risk or opening up the organization to phishing and other cyberattacks.

    Onboarding remote employees for cybersecurity means not just reciting the company’s security policies, but implementing online training and putting controls in place to ensure that those processes are being followed. Important steps here usually include applying two-factor (2FA) identification, requiring password resets at regular intervals and only allowing employee access through a VPN.

    4. Ensure new employees are welcomed and feel included

    Without the benefit of in-person introductions and social events, onboarding managers need to be intentional in helping new employees feel part of the team. This might include team members creating introduction videos for the onboardee (Loom is a good tool for this) and establishing virtual coffee breaks with key team members.

    As part of this, ensure new employees are included in all existing community-building initiatives: Make sure they have access to socially-oriented Slack or Teams channels and are invited to upcoming company events.

    Welcoming new employees with company “swag” is also a nice touch (stationery, coffee mugs and company hoodies are all popular).

    Related: 3 Onboarding Tips That Close the Gap for Remote Employees

    5. Implement “buddies” for all onboardees

    All remote onboardees should be assigned a “buddy” to whom they can feel comfortable asking any questions in relation to the company and their new role within it. Different than a mentor or supervisor, it can be advantageous for the buddy to be peer of the onboardee. Buddies should volunteer for the role, have a thorough understanding of the company and its processes and have a good reputation within the company.

    When you implement a buddy system, it is important to regularly check in on the system and make sure it is refined based on onboardee and buddy feedback.

    Onboarding new employees is a challenge for the remote-first work environment. Lack of physical proximity, use of remote work tools and a tendency towards asynchronous work can all make it more challenging for an employee to thrive in their new role. To get ahead of this challenge, companies need to be strategic about employee onboarding and ensure all new hires have the company support and tools to thrive in their new role.

    [ad_2]

    Antoine Boquen

    Source link

  • Why Mental Health in the Workplace Is a Conversation for the Chief Financial Officer (and Not Just HR)

    Why Mental Health in the Workplace Is a Conversation for the Chief Financial Officer (and Not Just HR)

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The workplace has been grappling with significant change and turmoil over the last few years. From shuttering offices in March 2020 and returning 18 months later to a time capsule of year-old calendars and dead plants, some businesses (like ours) have pivoted to being fully remote while others struggle to find the right hybrid or return-to-office roadmap.

    As the physical workplace changes, so have workplace culture and employee well-being. From the Great Resignation to quiet quitting, to whatever the next phase is, changes in the way we work have led to a lack of connection and feeling of belonging between colleagues, in addition to the challenges of proximity biases — all of which can have negative effects on employee mental well-being.

    While I’m glad to see the U.S. Surgeon General taking a proactive step to curb toxic workplaces by recently releasing a framework to help employers take action to support the mental well-being of their employees, it doesn’t address one key component to make it happen. Employee mental health support has long been the responsibility of the Chief Human Resources Officer (CHRO) or Chief People Officer (CPO). But in today’s world, this is also a business operations conversation for the Chief Financial Officer (CFO). Why?

    Related: 5 Steps to Creating a Workplace Focused on Mental Wellness

    A unique bird’s-eye view of the company

    Responsible for the financial performance of the company, CFOs have unique access to data and insights throughout the business. This access gives them unique insight into every department — from sales and engineering to people/HR. CFOs are able to overlay this departmental data to gain real insights into not only how the company is performing, but go a layer deeper to see how this affects employees. Are employees that go into the office more likely to receive promotions or salary increases? Has engagement across company-focused events dropped? Is there a decrease in productivity? Has attrition increased? All of these metrics can help a CFO assess employee mental well-being and the impact it has on the business.

    The cost of inaction

    Seventy-two percent of employers fear that focusing on mental health could have a reverse ROI with employees working fewer hours in order to care for their mental health and being less available. That’s simply not true.

    In fact, companies can’t afford to not support the mental health of their workforce. The World Health Organization (WHO) found that depression and anxiety disorders cost the global economy $1 trillion annually predominantly from reduced productivity. Twelve billion working days are lost every year to depression and anxiety alone. It’s metrics like these that indicate CFOs, in particular, are uniquely positioned to make a difference when it comes to supporting the mental health of employees as well as the overall health of the business.

    Related: What Leaders Get Wrong About Mental Health

    The business case

    As companies navigate an uncertain economic environment, they can’t afford to lose their top talent. Our research commissioned by Forrester found that high-performing employees — those who are highly engaged and committed to their roles in the organization — are working more hours and are even more productive than last year, but are also burnt out.

    Despite a reported high enthusiasm for their jobs, more than half (53%) of high performers report feeling burned out in their roles. The good news is that, for the second year in a row, employees said they’d be more likely to stay at a company that provides high-quality resources for them to care for their mental health.

    But while 84% of employers plan to enhance employee mental health benefits in the next year, there is still a significant gap in how employees perceive their employer’s commitment to mental health and wellness. Seventy-four percent of employees report wanting their employer to care about their mental health, but only half (53%) feel they actually do.

    This disconnect should alarm every business leader. It underscores how many companies are still fundamentally approaching mental health in the wrong way. When you consider the cost of employee turnover — $600 billion in 2018 and $680 billion by 2020 — from a business perspective, mental health benefits become a simple ROI equation. From a human perspective, it’s the right thing to do.

    As strategic partners to the CEO, CFOs have a unique seat at the table to assess and advocate for the importance of mental health support in the workforce. And as purses tighten across industries, it will be key for CFOs to strategically assess budgets and spending to maximize not only productivity but employee mental well-being as well — two sides of the same coin.

    [ad_2]

    Alyson Watson

    Source link

  • The Value of Digital Credentials vs. Degree Programs

    The Value of Digital Credentials vs. Degree Programs

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Pre-pandemic trends have shown S&P organizations losing standing to new disruptive market competitors, making it difficult to continue doing business the same way for long periods of time. Disruption is here to stay. For employees, the challenge becomes adapting to new processes and techniques faster than ever before to remain relevant. Lifelong learning is not just a quotable personal pursuit, but a requirement of the working world.

    In 2022, the median tenure for salaried employees is just 4.1 years. When combining employee tenure with the average S&P 500 company tenure on the list trending down to just 12 years, it’s clear that the same experts and expertise your business relies on today are unlikely to be there tomorrow.

    To stay at the top, great organizations will innovate to capture the market, while simultaneously acquiring new skills to execute in the next market. Designing and delivery of great training is a coveted core competency.

    Related: 5 Innovative Ways to Create Growth Opportunities for Your Employees

    Resisting change

    Becoming comfortable with the discomfort of change is a core competency managers and employees will also need to embrace. Our natural inclination is to not change, even when we know changing our behavior will have lasting positive effects. A few of the most common fears and anxieties associated with change include:

    • Losing control

    • Removal of safety and certainty

    • Peers no longer viewing you as the expert

    • Dreading the extra effort to learn something new

    Our experiences shape our beliefs. For managers in charge of change initiatives, there are two levels of beliefs to focus in on:

    1. Everyone is wary of change. Past changes have undoubtedly been painful for every employee, whether at work or in their personal lives. No matter what, there will be an existing level of resistance amongst your team.

    2. Success or failure in the first change initiative you manage will build important beliefs for the second change initiative. Successful teams will thrive during consecutive change initiatives, building the belief they can tackle any change together.

    Related: 3 Keys to Successful Change Management

    Driving business outcomes with digital credentials

    Digital credentials provide a verifiable means to honor individual skills acquisition and to measure both the organization’s and the market’s investment in change. In years past, an employee’s journey through prescribed training has been owned and kept secret in the employer’s learning management system. Ownership of acquired skills is valuable to both organizations and individuals. In vogue, skills have real market value. Things like statistical process control, Lean/Six Sigma, account-based marketing, value selling, scrum and servant leadership are not just owned by the organization — they’re owned by the employee as well.

    For business leaders, using digital credentials to track internal competency levels and/or market penetration of your brand skills training provides extraordinary value:

    • Certifying third-party technicians gives customers confidence in hiring service providers and broadens the marketing reach of a brand name.

    • Certifying contractors gives employers the flexibility to keep 1099 talent sticky to a brand, while also managing the ebbs and flows of business.

    • Certifying employees on future in-demand skills provides motivation for employee tenure as they master new skills. They become interested in recruiting new potential employees who also value professional development opportunities from employers.

    • Certifying employees on today’s in-demand skills motivates employees to increase their value at the organization and embrace change head-on.

    Related: What Business Leaders Can Offer to Keep and Develop Employees

    Digital credentials are an HR hiring manager’s best friend

    As organizations observe tenures of employees shrinking, it’s easy to believe that many stakeholders will still view training as a cost center. The alternative view is that training, no matter what organization has delivered it, is valuable. Using a digital credentialing strategy allows an organization to track not only course completion but skill trends internally and externally.

    Look no further than the immense value HR hiring managers gain from digital credentials. Unlike CVs of the past, with just a few clicks, stakeholders can see when, where and how an individual gained new skills. Using platforms, like Pearson’s Credly, gives hiring managers a searchable database of individuals with key skills. Earners who have added or shared their digital credentials on LinkedIn provide a transparent record of verifiable skills.

    Digital credentials, especially when tied to professional development or industry certification, can show an individual’s growth over shorter periods of time than a diploma. Moreover, when stacked together over time, they may well be indicating an individual has become comfortable with adapting to change in general. As businesses are faced with the need to innovate at a faster pace, why wouldn’t candidates who demonstrate a commitment to lifelong learning, comfort with change and willingness to invest in themselves provide the greatest organizational value?

    [ad_2]

    Christopher Allen

    Source link

  • 6 Values That Define a Healthy Workplace Culture

    6 Values That Define a Healthy Workplace Culture

    [ad_1]

    Here are six values that I use to cultivate a healthy culture in the workplace.

    [ad_2]

    Justin A Staples

    Source link

  • Offering This Benefit Can Help You Attract and Retain Key Talent — But Here’s What You Should Know First

    Offering This Benefit Can Help You Attract and Retain Key Talent — But Here’s What You Should Know First

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    A nonqualified deferred compensation (NQDC) plan is a great way for employers to attract and retain key talent. It also represents a potentially massive tax savings opportunity for highly compensated employees. There is a lot that you need to know about these plans before deciding to participate in one, however. So, let’s get into the basics.

    A nonqualified deferred compensation (NQDC) plan allows employees to earn their pay, potential bonuses and other forms of compensation in one year but receive those earnings in a future year. This also defers the income tax on the compensation. It helps provide income for the future, and there’s a possibility for a reduced amount of income tax payable if the employee is in a lower tax bracket at the time of the deferred payment.

    It’s worth noting that tax law requires these NQDC plans to be in writing. There needs to be documentation about the amount being paid, the payment schedule and what the future triggering event will be for compensation to be paid out. There also needs to be an assertion from the employee of their intent to defer the compensation beyond the year.

    Related: Is Your Business Approaching 409A Valuations the Right Way?

    Retirement planning

    A NQDC plan is a contractual fringe benefit often included as part of an overall compensation package for key executives. It can serve as an important supplement to traditional retirement savings tools, such as individual retirement accounts — IRA and 401(k) plans.

    Like a 401(k), you can defer compensation into the plan, defer taxes on any earnings until you make withdrawals in the future and designate beneficiaries. Unlike a 401(k) plan or traditional IRA, there are no contribution limits for an NQDC — although your employer can set its own limits. Therefore, you can potentially defer up to all your annual bonuses to supplement your retirement. We have seen companies allow you to defer as much as 25-50% of your base salary as well.

    Employers: Take note

    NQDC plans carry some benefits for employers as well. The plans are a low-cost endeavor. After initial legal and accounting fees, there are no annual payments required. There are no unnecessary filings with government agencies like the Internal Revenue Service.

    Since the plans are not qualified, they are not covered under the Employee Retirement Income Security Act (ERISA). This provides a greater amount of flexibility for both employers and employees. Employers can offer NQDC plans to select executives and employees who would benefit the most from them.

    Companies can customize plans toward valued members of their workforce, creating incentives for these employees to remain with the company. For example, an employee’s deferred benefits could be rendered forfeit if said employee decides to leave the company before retirement. We call this strategy a “golden handcuffs” approach.

    Related: Why Good Employees Leave — and What You Can do About It

    Employees: Take note

    For highly compensated employees, social security and 401(k) can only replace so much of your income in retirement. You could potentially build up the bulk of your retirement savings with your NQDC plan. There’s also the bonus of reducing your annual taxable income by deferring your compensation. This brings into play the idea of being in a lower tax bracket, decreasing the amount of taxes you would need to pay. Many employers even incentivize this, offering a match of some kind.

    Timing of payment

    The timing of when you take NQDC distributions is important since you’ll need to project your potential cash flow needs and tax liabilities far into the future.

    Deferred compensation plans require you to make an upfront election of when you will receive the funds. For example, you might time the payments to come at retirement or when a child is entering college. In addition, the funds could come all at once or in a series of payments. There is tremendous flexibility often in these plans.

    Taking a lump-sum payment gives you immediate access to your money upon the distributable event (often retirement or separation of service). While you will be free to invest or spend the money as you wish, you will owe regular income taxes on the entire lump sum and lose the benefit of tax-deferred compounding. If you elect to take the money in installments, the remainder can continue to grow tax-deferred, and you’ll spread out your tax bill over several years.

    Related: Best Retirement Plans – Broken Down By Rankings

    Risks

    An NQDC plan does come with some risks. When you participate in a qualified plan, your assets are segregated from company assets, and 100% of your contributions belong to you. Because a Section 409A plan is nonqualified, your assets are tied to your employer’s general assets. In case of bankruptcy, employees with deferrals become unsecured creditors of the company and must line up behind secured creditors in the hopes of getting paid.

    Thus, you should consider how much of your wealth — including salary, bonus, stock options and restricted stock — is already tied to the future health and success of one company. Adding deferred compensation exposure may cause you to take on more risk than is appropriate for your personal situation.

    Before you choose to participate in an NQDC plan, you should speak with both your financial advisor and your tax professional. You really want to model out how and when you will receive these disbursements. Ideally, you are planning with enough foresight that you will offset this income tax event in retirement with withdrawals from a brokerage account or a Roth IRA or 401(k). You will also want to pay attention to the impact of high income with the taxation of Medicare Part B — if you think there are a lot of moving parts here, you are right! When executed properly, you can truly develop a unique plan that is customized to your exact living situation and future goals.

    Any discussion of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.

    [ad_2]

    Chris Kampitsis

    Source link

  • How to Prepare Your Customer Success Teams for the Holidays

    How to Prepare Your Customer Success Teams for the Holidays

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    The holiday season is here, and while that might mean family gatherings and hot chocolate for some, for those of us in customer success, it can mean high-intensity and understaffed teams. The last two months of the year tend to be frenzied. Leading up to holiday vacations, clients are rushing to wrap up projects before they’re out of the office, organizations want to utilize the remaining budget for the year, and even those who aren’t taking vacations are rushing to wrap up projects because they know that so many others will be unavailable.

    This can create a lot of pressure for your customer experience teams that these employees turn to during this season — not only because your teams will have to deftly help clients under stress, but because your teams might also be trying to prep for their own holiday vacations or working with a smaller headcount than usual if holidays have already begun. This means both clients and employees can end up unhappy.

    But it’s not too late to be proactive and ensure that your customer success team has a great holiday season. Here are some best practices to help you succeed:

    Related: 6 Ways to Keep Employees Engaged During the Holiday Season

    Before the season begins

    Start early: While talking about the holidays in September might feel silly, at my company, we start talking about them long before they arrive. This is part of our strategy to go into the season with our eyes wide open at every level of the organization. We learned this the hard way two years ago when we underprepared, and our customer success team ended up with a large backlog and frustrated customers.

    When we bring it up early, it gives us time to think through the challenges of the previous year, brainstorm solutions and then actually build the systems needed to implement them. Employees and managers get the chance to share what went right and what didn’t so they can prep on both team and individual levels.

    Talking openly about anticipated staffing needs also gives team members the opportunity to share their vacation plans early. This then helps us anticipate our workforce size more accurately and plan accordingly.

    Use data to plan: Two years ago, we didn’t have solid data from this time period, making it challenging to be prepared both in the moment and the following year. This led to poor staffing, which resulted in poor customer experience. Since then, we have put a lot of effort into creating data analytics and gathering and utilizing data from previous years to understand peak and down times, which in turn helps us optimize staffing.

    Related: Prepare Now So Your Team Can Enjoy the Holidays and Still Be Productive

    During the season

    Within the organization: Once the holidays start, no matter how much you’ve prepped plans and people, the rush can still be overwhelming. We focus on staying in tune with our employees’ sentiments and morale to make sure that we can step in if someone needs a boost or a break.

    On top of that, we try to be proactive in not only fairly compensating people who work special hours, but also in giving everyone recognition for their hard work. It’s true that this is always a priority for us — but especially during the holiday season, it goes an extra-long way.

    To ensure the support team has the resources they need, we have on-call contacts in other key teams so that even when people are out of the office, there’s always someone to turn to, whether it’s IT issues, sales questions or development emergencies. This helps things run smoothly when the support team is dependent on other departments in the organization.

    Outside the organization: During the holidays, we’re open with clients about the fact that responses might be slower than usual between specific dates. Typically, we display banners on our site with this notification. Letting clients and users know what to expect over the course of a few weeks helps them plan their own work and minimizes frustration down the line.

    Related: The Best Leadership Skills for the Holidays

    After the season

    Immediately after the season ends, it’s time to start prepping for the next year. This means taking notes on everything that went right and everything that went wrong while it’s still fresh in our minds. Employees might have had a different experience than our leadership, so we debrief with the teams to get their input on how things went and include that information in our notes, too. If there is any feedback that’s immediately relevant, we work to implement it right away. Otherwise, we store our notes somewhere that will be easy to find next year.

    The holidays can be a challenge, but if you and your team are prepared before, during and after the season, they can also be a tremendous opportunity to delight both customers and staff. So, use these tips to set your team up for success this year.

    [ad_2]

    Hila Levy-Loya

    Source link

  • How Employee Training Partnerships Can Benefit Your Business (and What to Look for in a Partner)

    How Employee Training Partnerships Can Benefit Your Business (and What to Look for in a Partner)

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    CEOs must feel like remaking their workforces is a full-time job. Recent research shows that 60% of employers said new graduates were not adequately prepared for the workforce, while other research warns that 58% of workers will need new skills to successfully do their jobs.

    These findings point to an important conclusion: Executives need to make sure that their workers are continually acquiring new skills and competencies. However, this mammoth task is not something that companies can adequately perform on their own. When it comes to training, companies must embrace partnerships with institutions that can deliver the skills their employees need to power their companies forward.

    Some of these skills will be industry-specific, whether it’s operating a lathe or coding in Python. Others will revolve around digital marketing skills or data analytics. Still, others will be more general business — the foundational skills employers want employees to have from day one, whether it’s putting together a proposal, understanding a budget or effectively working with Excel. This is where a training partner comes in.

    Related: You Should Invest In Upskilling Your Changing Workforce. Here’s Why.

    What to look for in a training partner

    Executives should look for a training partner who will listen to their needs and be willing to grow and pivot with them over time to develop relevant programming. After all, what a company needs today might not be what it needs 2 years, 3 years or 5 years down the road.

    Given the ever-changing business landscape, the right training partner can be useful in helping companies “see around corners.” Companies should pick a training partner that is constantly analyzing market trends and is in regular contact with multiple companies and CEOs. In this way, the partner can help the company understand what other companies are seeing and what trends are taking shape — and then work to develop the right programming to help keep their workforce competitive.

    It helps if the training partner has actual industry practitioners leading programs so companies are working and collaborating with instructors who are living and breathing industry issues on a daily basis. Likewise, a regional training partner — one with a physical presence near your company — is more likely to have their finger on the pulse of business needs in the region than a nationwide online learning provider with no local presence.

    It’s also worth mentioning that there tend to be better results and outcomes when learners come to class in person and participate, face-to-face with other people versus online-only learning. The networking opportunities are also much stronger in person. Because of this, there are advantages to selecting a training partner in your backyard.

    Related: How Organizations Stand to Gain a Lot By Reskilling Employees

    Other offerings to look for

    Regarding what kind of educational offerings to look for from a training partner, stackable credentials represent the future of professional development and continuous learning.

    In some organizations, providing tuition reimbursement so that an employee can pursue a master’s degree is being replaced with professional development dollars that support continuous learning. For those organizations, it makes sense to look for a training partner that offers a series of certifications and credentials that an employee can use to immediately gain fluency in a certain area and then build on over time. Think of an employee who takes a quick social media marketing course to top off their skills in this area and then takes enough additional marketing and business offerings over the span of a year or two to essentially accumulate a mini-MBA.

    This brings up another important point: When seeking out an ideal training partner, executives should look for a certain degree of rigor. This is not the time to partner with an institution where everyone gets a participation trophy just for showing up.

    Is the training partner taking a hard look at attendance, participation and level of understanding of the material? When an employee walks away from a certificate program in a particular area, can they put that skill set into practice? CEOs rightfully expect that if they’re investing in professional development, there will be a return on that investment in the form of enhanced skills. That ROI is important because skills are becoming obsolete faster than ever. The half-life of a skill today is around five years, meaning that the skill could be half as valuable five years from now as it is today.

    By embracing training partnerships, CEOs can proactively tackle the ongoing reskilling and upskilling challenge. In today’s fast-evolving business environment, that’s an investment that companies can’t afford not to make.

    [ad_2]

    Eric Lloyd

    Source link

  • Edtech unicorn Vedantu sacks employees, implements pay cuts for leadership

    Edtech unicorn Vedantu sacks employees, implements pay cuts for leadership

    [ad_1]

    Edtech unicorn Vedantu is laying off some employees and implementing salary reductions for its leadership even as start-ups cutting across domains are preparing for a much harsher business environment.

    The Bengaluru-based company is in the process of sacking about 385 employees while the leadership team including founders will take a 50 per cent pay cut, people aware of the development told Business Today.

    Layoffs are being planned across business verticals including content, teaching and human resource teams.

    The development was first reported by start-up news website Entrackr.

    Vedantu had fired about 600 employees earlier this year. In early May, the edtech firm sacked 200 employees and later that month, its founder and CEO Vamsi Krishna announced that the company was laying off about 7 per cent or 424 employees out of the 5,900. 

    Krishna, in an email to his staff during layoffs in May, warned that capital will be scarce for the upcoming quarters considering the Russia-Ukraine war, impending recession fears and Fed rate hikes that have led to inflationary pressures and massive correction in domestic and global stocks. “With COVID tailwinds receding, schools and offline models opening up, the hyper-growth of 9X, Vedantu experienced during the last 2 years will also get moderated,” he wrote at the time. 

    The company did not respond to BT’s queries.

    Five months from the first round of layoffs, Vedantu acquired a majority stake in test preparation platform Ace Creative Learning aka Deeksha for $40 million (Rs 330 crore). The acquisition helped the company venture into offline coaching which its rivals BYJU’s and Unacademy had already forayed into in search of new revenue streams.

    Deeksha, which continues to operate as an independent entity, had around 950 employees at the time of the acquisition. BT couldn’t confirm if the layoffs affect these employees too.

    Edtech has been under the scanner lately for being the worst hit sector in terms of start-up layoffs. The sector has also seen shifts in business models, rampant cost-cutting exercises, and total shutdowns. Cumulatively, 11 edtech start-ups, including market leaders Byju’s, Unacademy and Vedantu, have laid off nearly 6,500 employees this year, as per Tracxn findings. Start-ups like Lido Learning, Udayy, Crejo.Fun, SuperLearn, etc., have wound up operations and Amazon has announced that it is shutting down its online learning vertical, Amazon Academy, in India.

    Outside of edtech, several start-ups across verticals including Ola,  Chargebee, MPL, Meesho, Cars24 and Udaan have trimmed down their workforce as fears of further funding slowdown and looming recession force start-ups and technology companies cut down on employee strength, optimize costs and extend their capital runways long enough to survive this cycle of downturn.

    [ad_2]

    Source link

  • Is On-the-Job-Training Killing Your Company’s Potential?

    Is On-the-Job-Training Killing Your Company’s Potential?

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    On-the-job training is a common practice, regardless of how many employees work in an organization. As human beings, we naturally observe and model the behavior of those around us, especially when their behavior aligns with compensation, promotion and cultural norms. The not-so-secret secret of on-the-job training is that it relies on top performers to teach when they could or should be performing revenue-generating tasks. Relying on top performers to deliver training also limits the scope of skills exposure to what a top performer is willing or able to share. Not every expert is conscious of their own competencies or actions that help them achieve consistent success, nor is every expert a good instructor. The reality is that on-the-job training is inefficient, not standardized, unreliable and very hard to scale.

    However, on-the-job training does have one core benefit — it isn’t theoretical. Practicing real skills in real situations gives individuals the benefit of experiencing when, where and how a skill is employed on the job — seeing the consequences of actions, gaining personalized insights (if the mentor is in tune with the mentee) and establishing the first set of experiences that might lead to performance confidence.

    Related: Most Companies Fail at Employee Training. What are They Doing Wrong?

    The myths of the 70:20:10 model

    Myth: 70% of training is on-the-job, in real-time

    Myth: 20% of training is delivered socially, through coaching

    Myth: 10% of training is formally structured, in a course

    As an observation of what most organizations do for training, it’s not unreasonable to believe only 10% of professional skills are supported with formal training. Great training is expensive and time-consuming to create. It’s estimated that it takes learning and development professionals nearly 490 hours to create 1 hour of quality (level 3) training.

    In a corporate environment, training and development is generally viewed as a cost center, not a revenue driver. On paper, the arithmetic of 70:20:10 looks ingenious, 70% of training costs are free. Don’t be fooled, the most expensive training you can buy is training that doesn’t work.

    A bad lecture, boring eLearning or required reading that doesn’t create any new skills or organizational change wastes the time of all the employees who could have been productive. On-the-job training that needs to be provided repeatedly, or worse, processes that always need to be supported by the one expert at the company creates massive lost opportunity costs that find their way to the balance sheet.

    When it’s time to perform, it’s too late to practice. — Dr. Michael Allen

    In the modern era of corporate training, many organizations don’t believe 70:20:10 is a prescriptive model for smart training. 70:20:10, however, is an ingrained legacy model that’s hard to give up. The core assumption to justify making an investment in effective training is that new or perfected skills will lead to enhanced business operations:

    • Increase revenue

    • Minimize accidents

    • Lower operational costs

    • Create loyal customers

    • Reduce turnover

    It will enhance business operations but only if the training is effective. The outcomes of ineffective training create organizational beliefs that training is not worth investing in. As a business leader, now is the time to review how training is being delivered to your employees. Taking the best of what each modality has to offer, from on-the-job training and coaching to formal course development, quality training solutions include:

    • Sufficient and spaced skills practice on authentic application scenarios

    • Individualized learning paths, skipping skills already mastered

    • Motivational support to encourage mastery and utilization of new skills

    • Contextually rich training to connect when and where performance is expected

    The ingredients listed above can be deployed in many training modalities. None are exclusive to on-the-job training; in fact, each is more powerfully and cost-effectively delivered in formal training. To challenge training norms, business leaders need to align strategic outcomes to learning budgets. How much should a change in behavior net the organization, and how much would you spend to ensure that change happens with quality training?

    Related: Training New Employees Sucks. 3 Ways Make It Faster, Easier and More Effective.

    The massive gap in talent

    Consider space-related industries. The space economy is on pace to be a $1 trillion industry by 2040, with tens of thousands of open positions and frantic startups popping up everywhere. On-the-job training has become the norm. But to create a highly skilled workforce and meet revenue goals, space organizations can’t rely on top talent with subject matter expertise to mentor every new hire.

    In service industries experiencing both labor shortages and high rates of turnover, internal subject matter expertise can be one resignation away from leaving a company stranded. Without creating a digital and scalable solution for training, today’s organizations risk losing the ability to provide effective training solutions altogether. The gap in available talent will inevitably hit your industry, business and team. How should a business leader prioritize spending on training?

    Your first training dollar

    The cost of a digital training program is really for the first employee. Once in place, digital learning is inexpensive to deliver to the second through millionth employee. Here are a few dimensions to evaluate if training should be created at all:

    • Is the skill risky to the person or business?

    • Does the skill get used once a year or many times a year?

    • Can you hire already skilled individuals?

    • Could a job aid or checklist be used every time the skill is needed?

    • How many people are required to perform the skill?

    • What’s the rate of attrition/turnover?

    • Do employees need extra motivation to perform the skill, even after mastery?

    Related: How Innovative Technology Improves On-the-Job Training

    Performance success in our careers makes an enormous impact on our lives. Your future employees will no doubt evaluate training programs not only for the applicability in doing the job at hand but also for the usefulness in advancing their career opportunities. By making an investment in quality formalized training, your business can make a tangible and measurable impact that on-the-job training is hard-pressed to match.

    [ad_2]

    Christopher Allen

    Source link

  • Is My Customer More Important Than My Employees?

    Is My Customer More Important Than My Employees?

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Which came first? It’s a fierce dinner table debate. Dinosaurs laid eggs, so they came first. But did the chicken egg come first?

    One much simpler problem to discuss is whether the customer or the employee came first.

    [ad_2]

    Joanna Swash

    Source link

  • 3 Easy Ways to Improve Your Software Developers’ Efficiency

    3 Easy Ways to Improve Your Software Developers’ Efficiency

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    I’ve observed an odd trend in company board meetings. Marketing and sales vice presidents will come in with charts, reports and finely-tuned data. The CFO will fire up a dashboard detailing every penny of revenue and expense. The chief will share hiring metrics down to the last employee. But when it comes to engineering, the lifeblood of any modern company, there’s little data — just a vague sense of what’s working and what’s not.

    The reality is that engineering efficiency and developer experience remain a black box, even at some of the most tech-forward organizations. And inside that box lurk inefficiencies on an enormous scale.

    I’ve heard of big banks that employ tens of thousands of developers who are operating at 30% efficiency because of bloated processes and unnecessary toil. This is more than a waste of resources. Frustrated developers quit. Company payroll sags under the weight of extra salaries needed to compensate for inefficiencies. Customers are stuck waiting on deliverables. Considering the global impact on and output, this is easily a trillion-dollar problem.

    The good news is there are simple, concrete ways to prioritize developer experience (DX) and engineering efficiency. I’ve seen the transformative benefits of improving DX as a developer, founder and CEO of three high-growth tech companies. Here’s what every CEO should know:

    Related: Use These 4 Tips to Attract and Retain Software Developers

    The true cost of poor DX

    Any company dependent on should be obsessed with optimizing developers’ work experience. Research shows most software engineers spend more than half their workday performing tedious, repetitive tasks. No engineer wants to spend hours troubleshooting an issue that could be detected by or wait weeks for approvals from other teams. Yes, they can (and do) move on to other projects, but context switching increases drag and the likelihood of errors. It’s also a stressful way to work.

    A frustrating work environment leads to heavy turnover, which is costly at any time, but particularly now when demand for great developers far outstrips supply. In the U.S., there are around 162,900 open positions for software developers and related occupations, according to the Bureau of Labor Statistics. As word travels about a company’s DX failures, recruiting becomes difficult, creating a downward spiral.

    All of this translates to the bottom line, with developers earning a median salary of more than $120,000, leaving them idle amounts to burning money. Worse, inefficient engineering inevitably slows product development. Companies in competitive industries like banking, retail or healthcare that can’t figure out DX will lose customers to competitors able to launch apps, updates and new products quickly.

    The silver lining is that since most companies are new to DX, a few simple improvements can yield substantial benefits. Here are three practical ways to improve your developers’ efficiency:

    Related: The Future of Software Development in 2022 and Beyond

    1. Make it someone’s job

    It could be a Developer Experience Officer (DXO), lead engineer or rotating team, but you need someone to own DX inside your company. Here at Harness, we have a Tiger Team that analyzes inefficiencies and recommends solutions. Here’s a recent example: The team learned that our code base was too large for developers to test changes on their laptops, which turned a two-minute test into a 40-minute excursion to use a sufficiently robust computer. Once they identified the problem, was straightforward: Reduce the number of microservices needed on developers’ laptops so they could use their own computers to test the code.

    2. Gather data, and put it to use

    It’s pretty ironic that engineering — of all departments — suffers from a lack of quantitative operational data. Most companies know more about sales team productivity than the engineering teams at the heart of their work. You can’t fix what you haven’t measured, so start by gathering hard numbers. Some useful metrics include the number of automated processes in your developer workflow, how much work a developer can complete within a certain timeframe and the lead time between a project’s beginning and delivery.

    Then, there are qualitative insights. Most companies rely on feedback from customer and employee experience surveys to make sure they are on target, but there’s no equivalent for developers — and that’s a huge oversight. Use surveys to gather qualitative data from engineers, and pinpoint bottlenecks and deficiencies to resolve. DX measurements can include metrics like how easy it is to locate the information, tools or systems they need to do their work.

    3. Remove needless barriers

    Barriers faced by developers can be cultural or technological. Endemic to many large companies is a culture of micromanagement and excessive oversight. For developers, that means wasting time waiting for someone to greenlight incremental progress. Instead, establish high-level guardrails around cost, security and quality, and give engineers free rein within those parameters. The streamlined process will boost creativity and productivity and increase developers’ job satisfaction.

    This goes hand in hand with upgrading developers’ own tech toolkits. Too many are stuck using dated and manual tools and processes or hacking their own fixes. That’s why I’ve worked to build solutions using automation and AI to enable users to build, test, deploy and verify on-demand. For example, if a developer is working on a feature, merging it into the main code can require thousands of tests, which could take hours to run. But using intelligent automation, the same process might take 20 minutes. There are even automations that allow you to programmatically define your guardrails and automate approvals when a project meets the specifications.

    Related: How AI Will Transform Software Development

    Ultimately, improving developer experience can’t be a one-time event. It takes ongoing attention and iteration to gather relevant data, remove blockers and increase productivity and job satisfaction. Yet improvement is well within reach, and the potential return is far too great to ignore.

    I dream that I’ll soon walk into a boardroom and see a developer productivity dashboard as comprehensive as any other department’s. We have the tools and data to unlock productivity, morale, efficiency, customer satisfaction and innovation gains. It’s time to free developers from toil so they can do the work they love.

    [ad_2]

    Jyoti Bansal

    Source link

  • How to Solve Quiet Quitting Without Shaming Employees

    How to Solve Quiet Quitting Without Shaming Employees

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    You have probably heard of quiet quitting. If you haven’t, it’s simple: An employee continues to do their job — there’s no actual quitting involved — but they disengage. They don’t give 110%. They don’t even give 100%. Their heart is no longer in their work (if it ever was). And so, they don’t sit up, they slouch. They do only what they must.

    What do we do, then, to address this? Clean house? Fire the quiet quitters and strike fear in all who are left? Install spyware on their work computers that monitors all that they do? Many will offer that kind of advice. They’ll give hard-nosed guidance for how to get 110% from our people — which is both unreasonable and logically impossible. That path is a dead end.

    By taking a long, hard look at how we do things and acting on the faults we see there, we can solve the problem of quiet quitters once and for all.

    Related: 8 Ways to Avoid Your Employees Quiet Quitting on You

    Where did quiet quitting come from?

    Word of quiet quitting has spread via social media, in particular, and much has been written about it since then. Many erroneously see remote and hybrid work as catalysts. Workers aren’t saying “hello” at their coworkers’ glamorous cubicles; they’re not getting in-the-flesh visits from immediate supervisors and pats on the back from well-compensated executives. They’re on longer leashes than before, and now this disaster — a quiet, but rampant -killer — has struck.

    On that point, I am skeptical. Time spent in the confines of the office does not equal greater productivity, creativity or innovation. Let’s admit it: Too much of traditional office time consists of long lunches, sharing company rumors, zoning out at a desk and fretting over the next visit to the corner office.

    Quiet quitting did not start with and its lack of supervision. It’s only that people are talking about it now. If anything, that is what is new about all of this: We’re finally opening up about something we couldn’t discuss at work for many years, lest we get overheard.

    Why are people really quiet quitting?

    Let’s try talking with a random employee in our . Ask a few questions, like, “Could you describe your company’s strategy?” “What are your organization’s current goals and KPIs, and how you are contributing toward them?” “When was the last time you were given an honest update on how the company is doing overall?”

    If we get clear, accurate, unhesitating responses, then congratulations. We don’t likely have an opaque that stimulates quiet quitting, and it’s likely because we’re among those who have taken the right steps to ensure our people are fully engaged — not only with their own duties but with the company as a whole.

    Quiet quitting results from not doing what it takes to ensure employees can answer questions like those above. From the jump, quiet quitters were probably never truly engaged with the company or organization they work for. They don’t have a voice, don’t feel essential and don’t know why what they do matters. They’re acting in a way that seems right.

    Quiet quitting is not a . It’s a symptom of a disease, and the cure does not lie in shaming quiet quitters or pulling them back to the office so they can quietly quit under our noses without mentioning it again. If forced, once they’re back in the building, employees will start looking for the exits in favor of finding another job where they can be free and make their own choices, like the adults they are.

    All of us, managers and leaders, should look in the mirror, take stock of how we do things, and see what wrinkles we can iron out. Let’s find where we’re losing the people we’ve hired and see what we can do to correct that. Here are five things to consider.

    Related: Quiet Quitting Is Taking Over the Workforce. Here’s How to Fix It.

    1. Start at the very beginning

    What does it look like when we bring a new employee into the fold? What are they told about their place in the organization? How aware are they, not just of what’s expected of them and how they can best perform their duties, but of the long-term or even short-term goals of the company as a whole?

    Most of us have visions for our companies, not to mention metrics that we’re striving for. But when have we communicated that to the people who are there to help us achieve it?

    2. Put the big picture on display

    What do we do on a weekly, monthly or quarterly basis to promote a real sense of psychological safety, openness and belonging among our employees? How do we keep them informed about the company’s long-term goals so they don’t get lost in the bureaucracy and day-to-day tasks?

    If we have quiet quitters working for us, the answer to those questions is likely “Geez, I don’t know,” “Nothing” or something similar. Or the things we’ve been doing are not quite enough, and it’s time for a reevaluation.

    3. Stop talking. Start listening.

    Leaders don’t have a monopoly on vision. We can learn a lot from the people we’ve hired — surely that’s part of why we hired them in the first place. Perhaps it’s time for genuine connection, where we listen, rather than talk, and we see what they have to say, rather than tell them what we think.

    Let’s not ask, “How happy are you with your job?” Let’s be real. No one who’s unhappy at work will risk losing a job by saying so to the boss. Instead, let’s ask where an employee thinks the company is headed. Ask for one thing they would change about the job, and see what we can do about the bureaucracy, dysfunction and inefficiencies that your “quit quitters” are surely noticing.

    4. When all else fails, let go

    It’s true: Sometimes it’s time for quiet quitters to quit less quietly, and the best thing is to part ways. Sometimes it is not about what we’re doing wrong or not doing at all, and we must cut ties. There is nothing shameful about that.

    It could be that we hired the right person, but they’re not in the best place to do their best. Going separate ways is for the better. We can also pay the disengaged people to quit. It’s been done before, with good results for everyone. But if we do this, it’s important to engage the rest of the workforce to make sure we’re doing more than weeding out the ranks seasonally.

    5. Take a look in the mirror

    Too many commentators write and talk about quiet quitting without considering the root cause of the problem. Too often the attitude toward them is shaming and punitive.

    But it’s not about the people who work for us. It’s about us and what we have done or not done to ensure our organization behaves like a well-oiled startup.

    Innovation requires freedom, and being an employer of choice requires that we liberate our people to be themselves and do their best. We must accept that our employees are likely to have ideas on how to grow and streamline the organization that could be way better and more informed than ours.

    Related: Are You a Victim of Quiet Quitting? Look in the Mirror for Answers.

    People are quiet quitting because we aren’t being realistic and taking personal responsibility as leaders. We’re forgetting how to drive an engaged and transparent culture of innovation. And that is what we must understand if we’re to fix this problem.

    [ad_2]

    Alex Goryachev

    Source link

  • 3 Simple Ways to Keep Your Millennial Employees Engaged

    3 Simple Ways to Keep Your Millennial Employees Engaged

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    “I quit” are two words that could describe the mood of the workforce for the last few years. These words have been literally (or figuratively) uttered by many employees across industries and are dreaded by employers. Most people have not realized that many have or will tender their resignations over the next several years. That’s because they are the largest generation in the U.S. force, making up more than one-third of the workforce, according to Pew Research Center. By the end of 2025, they will make up 75% of the global workforce.

    Millennials — like many other workers — are taking advantage of the employee-friendly job market and making changes all over the country. So, if you are not keeping millennial expectations in mind when creating your , you will alienate most of the talent in the current and future job market.

    If you are shocked by the fact that the workforce is mostly millennials, you are not alone. However, by embracing this reality and making your company reflect it, you can ensure access to the largest sector of today’s candidate pool while retaining the millennial employees who currently work with you.

    Related: Here’s What Millennials Want from Their Jobs

    The changing impact of millennials in the workforce

    Over the last several years, millennials have left their mark on the workplace. Millennials have always demanded more , flexible work schedules and better parental leave. When the pandemic hit, however, millennials’ priorities shifted overnight. Many workers were given and flexible schedules. Suddenly, they could do a load of laundry, walk the dog or help with kids’ homework without leaving the “office” during the workday.

    At the same time, employers were truly engaging with the millennial workforce. Companies realized that millennials were not fresh out of college anymore. Instead, employers began to see millennials as working parents, freelancers, entrepreneurs and digital nomads.

    Millennial expectations changed, and the pandemic highlighted the new generational identity. For instance, where work-life balance used to mean less time working and more time hanging out with friends, it now meant having the time to jet off to stay in another state or hit the road in an RV with the family — while still being able to work each day. Millennials work to provide for themselves and their families and fuel their preferred lifestyles, not the other way around.

    Related: The Millennial Takeover: How the Generation is Shaking up the Workplace

    You can do several things to attract and retain millennial employees and keep them satisfied. Start by asking, “What do millennials want in a job?” A lot of these actions might be simple changes in company policy that can make a major difference. Here are some ways you can engage millennial workers, boost job satisfaction and ensure that they stick with your organization for the long term:

    1. Prioritize remote (or hybrid) work models

    Competitors that offer remote or hybrid work arrangements will be in much better positions to attract top talent than those that do not. Millennials care about working from home and have made it a priority in their job searches. Almost 85% of millennials said remote work was important in an Axios poll.

    At the very least, you could offer a hybrid model that extends work-from-home periods. After all, millennials still want the flexibility to achieve some kind of work-life balance and take care of other responsibilities during the day.

    Adding flexibility, such as remote work, is a great way to retain current employees as well. According to the ADP Research Institute, 64% of workers would look for a new job if they were asked to work from the office full-time. All it takes to avoid this risk is to evaluate remote working models and then make the shift when the timing is right. Be aware, though, that the time is now for millennial workers.

    Related: Hybrid, Remote Work or Flexible Hours? Know Your Team and What Motivates Them

    2. Offer flexible location options

    Millennial employees also want the freedom to move to other cities or states and keep their roles, due largely to the pandemic migration. According to a survey by Bankrate, more than a quarter of millennials relocated either permanently or for an extended period during the pandemic, compared to 16 percent of all adults. Millennials left big cities to be near friends and family, live in more affordable places and seize different career opportunities.

    Spotify met the moment and launched a “Work from Anywhere” program in February 2021, as well as flexible location options to accommodate employees who want to move. The company even offered to pay for co-working memberships for employees who relocate to an area that isn’t near a Spotify office and miss in-office work.

    3. Make the work matter

    When attracting and retaining millennial employees, your company can’t stop at remote work and flexible schedules. You should also help millennials find meaning in their roles. According to Gallup, millennials value specific aspects of the worker experience, including relationships with managers, role clarity, development opportunities and how their work affects their overall health and the well-being of others.

    Aligning with their values is critical. A Deloitte report found that almost 40% of millennials and Gen Zers rejected a job because it did not match their values. Workers who are happy with their employers’ environmental and societal impact and inclusive culture are more likely to stay with their companies for more than five years. In other words, if you can’t connect millennials with the company’s vision and mission, they will look elsewhere.

    At IES, we have all-staff quarterly update meetings where we review the company’s mission, vision and value statements. We’ve also asked employees to help create our mission, vision and values. Team members formed groups to help complete the mission statement and expand on our values to make them more meaningful and accessible to the whole team and build a greater connection to them.

    Related: 3 Smart Investments to Help You Retain Millennial Employees

    When recruiting and building your company culture, remember to prioritize millennials for your organization’s success. Although it’s important to accommodate non-millennials, your company will get left behind without thinking about this generational group. Once you determine what drives millennial workers and incorporate these elements into your culture, you will be better positioned to attract and retain skilled workers from a larger talent pool.

    [ad_2]

    Kara Hertzog

    Source link

  • 3 Ways to Keep Your Outsourced Teams Engaged and Motivated

    3 Ways to Keep Your Outsourced Teams Engaged and Motivated

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    As your organization grows, you’ll have to make decisions about building different types of teams around the world. You might consider options like opening new offices, hiring remote teams or bringing on agencies.

    Given the current economic climate, outsourcing teams might seem like the most appealing option. Many people think it saves money and time and allows managers to offload the hiring, and managing processes to a third party. This strategy has a range of benefits, especially for customer success, which can require around-the-clock availability.

    However, it actually takes a surprising amount of effort and investment to make this strategic decision pay off in the long run. Plus, outsourced teams are not as different from your in-house as you might think. Here are a few tips on how to successfully manage outsourced teams in a way that truly pays off in the long run:

    Related: What Not to Do When Outsourcing

    1. Keep them engaged

    Just because your outsourced teams are out of sight doesn’t mean that they can be out of mind. Similar to your in-house team, disengaged employees will have a higher turnover rate, which will require you to spend even more time and effort on hiring and building strong teams.

    For this reason, the in-house manager still needs to oversee the hiring, onboarding and process to make sure the outsourced teams share similar culture and values. Here are a few ways to keep your outsourced teams engaged:

    • Hiring: It might be tempting to fully pass off hiring responsibilities since you won’t have to do the heavy lifting. But it’s important to stay involved by onboarding the people responsible for hiring so they fully understand your company culture and expectations.

    • Setting structures: Put the right structures into place that will support training and . This means implementing training and knowledge programs that mirror your in-house programs and could even include sending over your in-house educator to implement their high-quality, engaging learning plan.

    • Planning events: Run employee engagement activities similar to the ones you run for your in-house teams. Deck the events out in the company branding to make the outsourced teams feel like an equal part of the company.

    • Creating a flight plan: Create a flight plan to strengthen relationships and create a unified team. Send your in-house teams and outsourced teams to visit one another’s offices.

    • Survey: Distribute surveys about employee satisfaction so you can continually improve the ways you engage with the outsourced teams and make them feel valued.

    Related: Pros and Cons of Outsourcing and Hiring In-house Staff

    2. Help them grow

    Again, similar to your in-house team, without room for growth, your outsourced teams will lose motivation quickly, which will create high turnover and low retention. To attract and retain the best talent, you need to treat them as such.

    Consider creating a growth path in which exceptional work results in opportunities for upward mobility, expanding or deepening industry knowledge. While it might seem more costly up front, it will be more cost-effective to retain your talent than constantly hiring and training new talent.

    Offer a high level of visibility into your organization’s work, progress and plans. This will help them understand their contribution to short- and long-term goals. Compounding on that, celebrate milestones and achievements for the teams and the organization on-site. Then elevate these successes in larger forums so everyone gets the recognition they deserve, despite the distance.

    Related: 7 Ways to Make Outsourcing a Success Time After Time

    3. Set high standards

    The final piece of the puzzle is setting the right KPIs for your outsourced teams. Unfortunately, outsourced teams are sometimes thought of as a trade-off: a cheaper solution with mediocre results, but this should not be the case.

    Your outsourced teams should have similar KPIs to your in-house teams. Lowering your KPIs for outsourced teams means you’re inherently sacrificing quality for cost, which lowers your organization’s overall efficiency. Outsourced teams are equally as professional and talented as your in-house teams — they’re simply located in another region.

    There’s no doubt that outsourcing has plenty of benefits and can seem like a simple and attractive solution for scaling. But don’t lose sight of your goal: building a team that will produce high-quality work to better the organization. Invest time and resources to support every team member, and the value will be undeniable for everyone.

    [ad_2]

    Hila Levy-Loya

    Source link

  • San Diego Regional Center Partners With TOOTRiS to Offer Comprehensive Child Care Solutions to Employees

    San Diego Regional Center Partners With TOOTRiS to Offer Comprehensive Child Care Solutions to Employees

    [ad_1]

    New Alliance Will Enable Nonprofit to Better Support Key Staff Across Eight Locations

    Press Release



    updated: Jun 15, 2021

    The San Diego Regional Center (SDRC), a leader in the community for persons with developmental disabilities, has partnered with TOOTRiS to provide real-time Child Care services to its employees. With this partnership, SDRC’s staff of more than 600 will have access to thousands of local Child Care providers through the TOOTRiS’ platform, removing barriers that prevent working parents from remaining in the workforce and advancing their family-friendly work environment.

    As a first-of-its-kind SaaS platform, TOOTRiS connects parents, Child Care providers, employers, and subsidy programs all in real time. One of TOOTRiS’ goals is to create sustainable, systematic change for greater equality. Child Care challenges cause one in four women to leave the workforce and costs employers millions of dollars each year in turnover, lost productivity, and absenteeism. Over the last year, nearly 3 million women dropped out of the workforce across America, many due to the lack of Child Care. With a staff of more than 65% women, SDRC recognizes that Child Care support is key for long-term success, and its partnership with TOOTRiS is a win-win solution for the organization and the community.

    “Through this partnership with TOOTRiS, our employees now have access to the only real-time Child Care benefits solutions available, ensuring our employees have access to quality Child Care so they can thrive at our organization,” said Carlos Flores, San Diego Regional Center Executive Director. “By providing an affordable Child Care service and increasing Child Care availability and visibility for families, TOOTRiS creates a level playing field so that all working parents, regardless of economic status, location, or schedule, have a chance to pursue professional growth.”

    “When employees are provided access to Child Care benefits, they are not forced to choose between a paycheck and their child,” said Alessandra Lezama, CEO of TOOTRiS. “Families in San Diego with two working parents spend up to 40% of their income on Child Care. That is excessively high. The San Diego Regional Center has always been a forward-thinking nonprofit, dedicated to providing the best services for our community. By offering Child Care as part of its existing employee wellness program, the organization will significantly improve productivity, career advancements, and employee retention, allowing SDRC to continue its amazing work.”

    About the San Diego Regional Center
    The San Diego Regional Center is a service of San Diego-Imperial Counties Developmental Services, Inc. and a private nonprofit 501(c)(3) organization that contracts with the State of California to provide the services outlined in the Lanterman Developmental Disabilities Services Act. The San Diego Regional Center is a focal point in Imperial and San Diego counties for 33,000 persons with developmental disabilities such as intellectual disability, cerebral palsy, epilepsy, autism, and other disabling conditions, encouraging them to live productive, satisfying, and meaningful lives as valued members of our community.

    About TOOTRiS
    TOOTRiS is reinventing Child Care, making it convenient, affordable and on-demand. As the world shifts to digitalized services, TOOTRiS helps parents and providers connect and transact in real time, empowering working parents – especially women – to secure quality Child Care, while allowing providers to unlock their potential and fully monetize their program. TOOTRiS is creating a new digital economy that promotes entrepreneurial opportunities for individuals with passion and talent to become Child Care providers, improving their quality of life while increasing the much-needed supply of Child Care across the state. TOOTRiS’ unique technology enables employers to provide fully managed Child Care Benefits, giving their workforce the flexibility and family support paramount to regaining employee productivity and increasing their ROI.

    Press/Media
    press@tootris.com
    (858) 529-1123 

    Source: TOOTRiS

    [ad_2]

    Source link