Tag: hiring

5 Ways Franchises Can Benefit From Leveraging Offshore Talent | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

Emerging franchise brands are laser-focused on growth, and rightfully so. However, growth consumes a lot of cash, and many are undercapitalized and unable to staff adequately in the initial stages of the business. A more nuanced approach to talent acquisition can facilitate success.

Leveraging offshore talent is a lesser-utilized growth strategy for emerging franchise brands. Outsourcing no longer fills just junior or customer service roles — a common misconception in today’s landscape. Now, high-value, skilled workers are available around the globe to support completing higher-level work. Offshoring helps franchisors proactively hire as part of their growth strategy, instead of staying reactive while conserving cash.

Historically, I have seen very few brands leverage outsourced labor. However, that is beginning to shift as franchise leaders begin to understand the benefits of having an international talent strategy. There are compelling reasons that fast-growing franchisors can benefit from leveraging offshore talent.

Related: Your Most Pressing Offshoring Questions, Answered

1. Access to a broader talent pool

Talent scarcity persists as a substantial issue that won’t soon go away. It’s becoming harder to find, afford and retain top talent. A ManpowerGroup report revealed that 75% of employers say they have difficulty filling roles, and a study by Korn Ferry found that by 2030, there could be a global talent shortfall of 85 million people — to the tune of $8.5T in unrealized annual revenues if the issue is left unaddressed.

A shift in the talent procurement process is necessary to address this scarcity. Offshoring provides access to a much broader, global talent pool. Franchises need access to a wide range of skills and expertise that may be limited or fiscally prohibitive in their local markets. Offshoring can be particularly beneficial for more specialized roles within the business.

2. Cost efficiency and scalability

A significant outsourcing advantage is cost savings. Offshore talent carries a much lower expense compared to local hiring, with significantly reduced budgets for wages and benefits. With the right offshore talent, work quality won’t be sacrificed. This can be crucial for franchisors that need to maximize their resources during periods of rapid growth.

It takes a long time for a franchise brand to become royalty-sufficient, which is why growth is especially important for new businesses. As franchises grow, the need for broader skills and additional staff rises. Offshoring provides the flexibility to expand or contract the workforce as needed, without the expense or complexity of hiring locally.

3. Quality improvement

Any business in growth mode struggles to hire ahead of the demand curve. Hiring proactively can help franchisors expand their capacity ahead of that curve to maintain high quality, brand value and customer satisfaction. Often, they delay hiring crucial roles or bring on less experienced workers to reduce costs. These are not mutually exclusive.

Most people think of outsourcing as transactionally delegating low-level tasks that no one wants to do. Instead, franchisors should consider offshoring, hiring skilled workers to fill roles earlier than they could otherwise with domestic workers.

For example, leveraging offshore talent could mean that domestic employees can take on new roles, such as management responsibilities, expanding capacity and facilitating greater business value.

4. Round-the-clock operations

Offshore teams often operate in different time zones. Meaning, they can complete their work outside of the franchise’s local business hours, effectively enabling 24/7 operations.

Operating with longer hours can significantly increase project turnaround times and improve customer satisfaction.

5. Leadership focus

Within growing companies, executives often get mired in operational or administrative details. Through offshoring, franchise executives can affordably find support that relieves operational burdens and allows them to focus on core activities, such as franchise development and strategy and management, which spur growth and expansion. Offshore teams can handle repetitive and time-consuming tasks, which in turn increases organizational efficiency and productivity.

With this level of support, leaders can expand their bandwidth and add strategic value to the organization.

Related: Hiring Offshore Talent? Here Are the Top 10 Countries to Recruit From.

Investing in offshore talent allows room for franchises to grow. Businesses gain access to a wider range of skilled talent, and they can upgrade internal teams and foster leadership capacity and effectiveness. Cost-efficiency and 24/7 service provide much-needed relief to young franchise businesses — and customer service and profitability don’t suffer in the process.

Offshoring helps growing franchises increase organizational value. The flexibility that engaging today’s offshore talent provides creates a skilled global workforce that fulfills more roles than customer service.

[ad_2]

David Nilssen

Source link

February 5, 2024
University confronted about illegal hiring on racial lines in leaked audio

[ad_1]

A psychology professor warned that hiring based on race alone was illegal, even as the University of Washington (UW) psychology department was downgrading white and Asian candidates, an audio recording obtained by Newsweek has shown.

The university later banned the faculty from hiring tenure-track employees for two years after finding major discrimination in hiring practices.

In an audio recording of a meeting from March 16, 2023, psychology professor Ione Fine objected to the hiring process in which the first- and second-ranked candidates, who were white and Asian American, respectively, got overlooked in favor of the third-ranked hopeful, who was Black.

For that to be achieved, a new “threshold” system was introduced in which any candidate could be chosen once they reached a certain level, circumventing the previous practice of hiring the highest-ranking candidate.

In 1998, Washington state passed a referendum banning race-based hiring in universities, which appears to have been ignored by the psychology department.

At the meeting, Fine objected to staff having just a 15-minute meeting to approve the decision of the selection committee.

“I feel like this idea that we are just deciding on candidates above threshold is a huge change in what we are looking at as a department and I think it should be something that we discuss as a faculty, not something that is decided by the planning committee,” Fine told the meeting.

She added: “I personally am in favor of affirmative action but we are legally not allowed to do it. I actually think we do owe the taxpayers who pay our salaries—the fact that it is illegal and has been democratically decided to be illegal by the taxpayers.”

Students at the University of Washington are pictured on March 6, 2020, in Seattle, Washington. The university has banned its psychology department from hiring tenure-track employees for two years after finding discrimination against white and Asian candidates.
Karen Ducey/Getty Images

“So can you explain how we are respecting taxpayers? How are we not doing a [work-] around on what we are legally supposed to do?” she asked.

In response, a member of the selection committee denied that they were hiring based on race alone.

“This is not kind of like we are giving someone a position because of their identity. We have three extremely qualified candidates and we are making a strategic offer based on what the department has deemed the most important … so that is not at all what is happening,” the committee member told Fine.

Fine’s objections came one month before the Black candidate was hired after some Black faculty members urged that she be hired over the white candidate, who was then downgraded from first to third in the rankings.

Newsweek previously reported the university’s comment that “an internal whistleblower” exposed the discrimination. We can now reveal that the internal whistleblower was Fine, who specializes in the psychology of blindness and other areas of research.

An internal report discovered the discrimination in hiring procedures.

Other violations included the absence of white staff from meetings with job candidates, deleting a passage from a hiring report to hide discrimination, and discussing ways to “think our way around” a Supreme Court ruling that banned affirmative action in colleges.

A UW spokeswoman told Newsweek on January 3 that the case was exposed when “the dean of the College of Arts & Sciences, responding to an internal whistleblower, requested an internal review of this process by what was then called UCIRO (University Complaints, Investigation and Resolution Office) and is now the Civil Rights Investigation Office.”

The UW report found that when five finalists for a tenure-track assistant professor position were selected in January 2023, they were due to be interviewed by the Women Faculty and Faculty of Color groups so they could assess the general atmosphere of the faculty.

The report said a member of the Faculty of Color did not want any white women at the meeting and complained that the interviews were “awkward” when there was a white candidate. The names of everyone involved are redacted from the UW report.

Uncommon Knowledge

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

[ad_2]

Source link

January 22, 2024
3 Strategies to Optimize Your Hiring Process and Find the Best Employees | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

The most important decision for business leaders is deciding on who will come aboard to help build the corporate house.

After owning several businesses and running a multimedia company, I’ve learned valuable lessons about bringing new people in. Here are three strategies I now use to make sure I am choosing the right candidate for the job. These tips should help you simplify the hiring process in 2024 and beyond.

1. Avoid hiring under pressure

Executives are particularly vulnerable when the work is piling up and weeks go by without a new hire.

Vetting people starts with observing the person in a variety of circumstances, including the time leading up to the interview. Little things are tells. How does the candidate respond to others? You can have an assistant talk casually with the candidate and give feedback later. You can hold a secondary interview. I often bring in the top choices and have the person in that role interview them. The way a candidate treats everyone, from the receptionist to the CEO, is valuable information.

Have all of your candidates send an email with specific verbal instructions they must follow. You’re testing their ability to listen. Despite the simplicity of these requests, I have had people fail to use the correct subject line, fail to send the appropriate attached file and fail to follow the organization I requested.

For in-person interviews, I ask candidates to bring a physical copy of their resume. You may get excuses like, “My printer was broken.” This tells you what you need to know.

The best strategy is proactive. Prepare for the turnover that all businesses face before you hire another person. I learned quickly to create training materials and to spend time cross-training my employees. Not only will this method help new hires get up to speed faster, but when positions go unfilled, other employees can follow the guides and fill in.

It’s best to have multiple guides in a variety of formats — video, audio and document style. This allows anyone in your organization to move into position and fill gaps as needed.

Related: The Pros and Cons of Hiring Family Members in a Small Business

2. Rise to the challenge of hiring remotely

According to research from CurrentWare, “Disengaged employees cost the U.S. up to $550 billion in lost productivity per year.”

Many companies like Upwork and CurrentWare can provide a variety of services, including productivity metrics, inactivity alerts and attendance verification. There are also phone apps that record and track sales calls.

You can interview remote candidates in the environment where they will work. During the virtual interview, check their office space and look for tip-offs that display unprofessionalism. I’m legally blind, so my assistant sets up our Zoom call and watches as I have the candidate walk around the space, talking to me about their home office. I no longer ask for photos because it’s tempting to use virtual environments rather than revealing our workspaces to each other.

The work-from-home model means you have less control over little things that mean a lot. You can implement a dress code for team members who will appear on camera with staff members or clients. Whether the applicant has a dog matters, as does the noise level in a neighborhood. Generally, getting the candidate talking about their work, their home life and engaging them in real conversation can reveal much about a potential hire’s viability.

Related: 10 Strategies for Hiring and Retaining New Employees

3. Eliminate the unknowns in potential partnerships

Many partnerships come through networking. I was once interviewed on a podcast and really hit it off with the host — he soon became involved in my new business venture, even though I didn’t really know this person. I didn’t take the classic advice, “Look before you leap.”

After several months, there were some serious red flags. At that point, I looked into his background, but not before I had wasted time and money entrusting him with important tasks he simply didn’t do. Oftentimes, friendships evolve into business partnerships that end in the loss of both.

There are red flags, and I’ve learned not to ignore them. If you don’t have a giant company with a huge HR staff, you may be tempted to trust your judgment and go with your gut. However, even if you know someone, you should look them up.

People have aliases, and they make up resumes. In fact, bios and CVs provide all the information you need to vet the claims. Look for awards that don’t exist and titles such as Ph.D. or M.D. that they don’t possess. Look for multiple social media alternate identities. Search the name of a potential business partner with the word “scam” and “fraud.” You can look individuals up through professional organizations or verify business licenses for the startups and/or organizations listed on the resume. You can also speak to former colleagues to vet your potential partner’s version of things, from the breakup to how they ran their business.

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

The workforce is truly the face of the company. Knowing this, it doesn’t make sense to skip important steps in the hiring process, including fully vetting and researching candidates, reaching out for information and obtaining feedback and referrals.

In the virtual world, it is easy for people to mislead us, exaggerate their experience or even cause harm to the company. When we take the time to fully engage in the hiring process, the payoff is finding the right team that is poised to help guide the company to greater heights.

[ad_2]

Nancy Solari

Source link

December 25, 2023
United Mississippi Bank frees up internal IT resources through Jack Henry | Bank Automation News

[ad_1]

United Mississippi Bank continues to use Jack Henry’s Hosted Network Solutions to enhance its IT infrastructure without adding employees.

In 2017, United Mississippi Bank Executive Vice President and Chief Information Officer Christopher Maxwell was looking to improve IT operations, including the need for two full-time IT employees, he told Bank Automation News.

However, adding headcount was costly, with some IT applicants expecting to be paid more than a bank’s chief executive, Maxwell said. “That doesn’t fit” for the $452 million, Natchez, Miss.-based bank, he said.

“Hosted Network Solutions (HNS) was specifically designed for financial institutions to host any Windows- or Linux-based servers in Jack Henry’s secure and fully redundant private cloud platform,” Nick Shirk, national director of sales and information security and technology, told BAN.

The bank’s third-party service contracts were expiring in 2017 and it was time for a hardware refresh, expected to cost about $1 million, Maxwell said. While determining the best path to improve hardware and virtual servers, Maxwell talked with the Jack Henry team as well as banks that had already implemented HNS.

The bank is in its third three-year contract with HNS, Maxwell said. The platform meant the bank wouldn’t need to hire more full-time employees.

“By effectively transferring risks and management responsibilities to Jack Henry, financial institutions can free internal IT resources to focus on strategic initiatives to better serve their account holders,” Shirk said.

Nashville, Tenn.-based FirstBank and Panama City Beach, Fla.-based Innovations Credit Union are among financial institutions that have moved their network infrastructure to HNS, according to the Jack Henry website.

Get ready for the Bank Automation Summit U.S. 2024 in Nashville on March 18-19! Discover the latest advancements in AI and automation in banking. Register now.

[ad_2]

Whitney McDonald

Source link

December 22, 2023
6 Signs You Need an Executive Assistant | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

If you don’t have a virtual or executive assistant, you probably are one.

As the boss, you know focusing on high-impact initiatives that drive greater value is crucial. You probably use a suite of productivity tools to help complete administrative tasks. And with well-optimized tools, you can get a lot done.

But here’s the irony: Your day-to-day productivity habits can keep you from getting to the things that are the highest and best use of your time. You might feel productive without completing what counts.

When quickly moving from task to task, what matters most goes out of focus without noticing. Being busy doesn’t equate to being productive. I see entrepreneurs make this mistake all the time.

Many signs tell you you’re veering into danger, and here are some of the most common I’ve seen. If you nod yes to any of the following, you might need an executive or virtual assistant.

Related: I Found an Executive Assistant Who Changed My Life — Here’s How To Find Yours

1. Your inbox is overflowing

You fire off emails all day but never see the bottom of your inbox. As a result, your to-do list gets longer, not shorter, every day, too. Even with organizational tools flagging the ones you want to respond to, essential emails regularly slip through the cracks. And if you’re being honest, many action items on your to-do list are overlooked or ignored.

2. You struggle with scheduling

Are you double-booking yourself? Is work spilling into your personal time? Those are some of the biggest red flags your calendar needs attention. And if you travel, you spend time booking flights, hotels, transfers, meetings and itineraries. You may not consider these tasks a big deal, but look closely, and you’ll see how if one thing changes — something always changes — you’re stuck dealing with a cascade effect of more booking adjustments.

3. Your key partners or business relationships aren’t feeling the love

You aren’t maintaining professional relationships if you’re bogged down with day-to-day tasks. And if your colleagues aren’t top of mind for you, it’s unlikely you’re top of mind for them. What is this dynamic costing you? When people hear of work your company would be an excellent fit for, they don’t think to tell you, so the opportunity goes elsewhere.

4. You’re a de facto project manager

So, the new project was your brilliant idea. You’re 100% invested in it. But when you sign on to manage it, you’re outside of your zone of genius many hours of the week. And if the project is months long, the compound effect of misplaced focus can be hard to overcome.

Related: 4 Steps to Prepare to Grow Your Business With Virtual Assistants

5. You’re becoming a marketing assistant

As the primary face and voice of the company, you care about your messaging. Creating slide decks and social media posts and maintaining a running list of website updates isn’t a big deal. Why bother delegating public-facing work when the stakes are high and communicating what to communicate is nuanced and tricky? Because you become the primary marketing assistant many hours a week to keep up with the demand.

6. Your expense management is a drain

Check out the state of your accounts receivables and payables. Are late invoices and missed bill payments becoming a repetitive problem? That’s a stressful situation turned standard operating procedure. The strain will show in all aspects of your business. I also see many executives habitually put off expense tracking. Many people never submit expense reports, which blows me away!

Executive or virtual assistants perform much more diverse functions than most people realize. Many do far more than just free up time for the CEO. Skilled assistants can significantly increase your capacity and allow anyone with a high volume of repeatable or administrative work to invest their time better.

Besides staying on top of email, calendar, travel and expense reports, assistants often manage social media calendars, source job candidates, create onboarding materials, generate financial reports, and handle invoicing, accounts receivable and bookkeeping. Their diverse functions improve not just executive output but also that of the marketing, HR and finance teams.

Now, a word of caution: Hiring an executive assistant with years of experience, the competencies you need and a work style that matches yours takes time and discipline. Once you find someone, you’ll need to onboard them properly, even if they are perfect.

Related: 17 Questions to Ask When Interviewing a Potential Virtual Assistant

If you wait until you’re desperate to bring one on, it’s easy to shortcut the attention onboarding requires because you’re simply “too busy” to do it right. Although the right assistant could dynamically change the way you work (for the good!), if there’s no way you can make time or if your work is highly technical, a virtual or executive assistant could be an expense you don’t need to accrue.

Still, if any of the six warning signs are familiar, consider leaping and hiring. And unless you can solve the capacity problem cheaply by reducing your workload or working longer hours — it’s not a sustainable solution for most people — I suggest you don’t let money be a reason not to hire. As one of my clients says, “I have an executive assistant to ensure I am invested in those things that are the highest, best use of my time.”

If you’re all in as the boss, do yourself a favor. Make sure what you do daily is near and dear to your heart. Invest in an executive assistant, and you’ll find out that the more effectively you work, the more you can concentrate on the aspects of your business — and life! — that count.

[ad_2]

David Nilssen

Source link

December 6, 2023
Argo Blockchain appoints ex-CBOE digital leader as new CEO

[ad_1]

Argo Blockchain, a key player in the Bitcoin mining industry, has appointed Thomas Chippas, a veteran in digital assets and financial services, as its new CEO and Director, signaling a strategic shift amid the company’s recent challenges and market fluctuations.

Argo Blockchain, a prominent player in the Bitcoin mining and technology sector listed on both the London Stock Exchange and Nasdaq, has selected Thomas Chippas as its new CEO and Director.

Argo is excited to announce the appointment of Thomas Chippas as Chief Executive Officer and Executive Director.

Thomas was previously the CEO of CBOE Digital and has prior executive experience at Citadel, Axoni, Citigroup, and Barclays.

Full RNS: https://t.co/sPpRBKozIZ

— Argo (@ArgoBlockchain) November 27, 2023

Chippas, whose career spans across various leadership roles in the financial services and digital assets sphere, is poised to bring a wealth of experience to Argo. His tenure as CEO of CBOE Digital and founder of ErisX, a crypto trading platform later acquired by CBOE, stands out. CBOE faced a substantial $460 million write-down on this acquisition in 2022, casting a shadow on the venture’s success.

As Argo’s CEO, Chippas is set to receive up to 2.85 million units tied to the company’s American Depositary Shares, vested over three years. This incentive, however, hinges on his continuous employment and achievement of specific performance goals. Additionally, the company’s remuneration policy allows for further performance share units on his first and second appointment anniversaries.

Argo’s decision comes at a turbulent time. The company faced significant challenges, with former CEO Peter Wall stepping down in February and a distressing false alarm about filing for Chapter 11 bankruptcy in December of last year.

Despite these setbacks, Argo showed resilience, selling its Helios mining facility and securing a $35 million loan from Galaxy Digital, subsequently raising $7.5 million in an oversubscribed share sale to alleviate its debts.

Follow Us on Google News

[ad_2]

Bralon Hill

Source link

November 27, 2023
Tactical Solutions to 5 Frequent Business Obstacles | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

Starting and growing a business is tougher today than ever before. You have to hire, manage and process payroll and are likely in charge of keeping the books and staying updated on tax laws. You might also have to deal with (and bounce back from) supply chain issues and the occasional emergency amid ample economic uncertainty. Operating an enterprise, therefore, is not for the faint of heart. Whether you are a principal in an existing one or are thinking of taking the leap, it’s wise to consider the most pressing challenges you’ll be up against.

1. Hiring and managing

Finding employees — and ensuring that they’re the right ones — is, of course, vital. The average hiring process lasts three to six weeks, and if you don’t have a dedicated HR professional (or team) doing this work, it’ll be necessary to put other responsibilities on hold to do so.

[ad_2]

Mike Kappel

Source link

November 22, 2023
Relay Resources Invests in Diversity, Equity, Inclusion and Accessibility With New Chief Disability Inclusion Officer

[ad_1]

Wally Tablit joins this leading disability employer in the Pacific Northwest as the organization’s first Chief Disability Inclusion Officer

PORTLAND, Ore., November 20, 2023 (Newswire.com)
–
Wally Tablit, a nationally recognized leader in supported employment, joins Relay Resources as the organization’s first Chief Disability Inclusion Officer. Tablit will lead efforts to advance centering people with disabilities in the workplace through diversity, equity, inclusion and accessibility (DEIA) initiatives. He is responsible for recruiting, learning and development, career pathing, employee engagement, disability advocacy, and accessibility and accommodations. With the goal of enhancing the employee experience, increasing productivity and improving retention, Tablit will infuse an inclusive approach throughout facilities, policies, language, hiring, onboarding, and tools and equipment.

Dr. Jennifer Camota Luebke, President and CEO of Relay Resources, stated, “We are excited to have Wally join Relay and look forward to broadening our impact with his additional focus on disability inclusion. Wally’s energy is infectious, and I can’t wait to see his passion and experience in action.”

Tablit, who identifies proudly as a gay Asian man with a disability, was born in the Philippines and immigrated to Hawaii. With a B.A. in Rehabilitation and an M.A. in Counseling from Seattle University, he has supported people with disabilities through employment, training, community engagement, advocacy, policy and leadership. He served various populations as a director of several employment agencies and helped end sub-minimum wage practices in Washington state. Tablit was recently Senior Director of Leadership and Workforce Development at RespectAbility. Prior, he was the Chief Mission and Diversity Officer at Atwork.

Tablit was elected to the National Board of Association of People Supporting Employment First (APSE) in 2017 after serving as President of the Washington State Board. He also served as the National Board Equity, Diversity and Inclusion (EDI) Officer for three years, crafting an EDI declaration used by chapters around the country. Tablit has provided consulting services on community integrated employment, organizational development and DEIA with clients such as Rutgers University, The University of Maryland, Syracuse University, Great Lakes ADA Center and Southwest ADA Center.

“I’m looking forward to creating a positive impact at Relay Resources,” expressed Tablit. “As a person with a disability, I’ve experienced the power of true inclusion, something Relay has been striving towards for more than 70 years. I’m eager to build on their success with this amazing team.”

Camota Luebke views this as one of many investments Relay will be making in DEIA. “As other organizations pull back from DEIA, we want to lean in,” said Camota Luebke. “It’s important to set the foundation to support employees with and without disabilities as we grow. I’m confident Wally will lead these critical initiatives with empathy because of his vast experience.”

At a time when Disabilities is often the forgotten “D” in Diversity, Relay Resources, a 501(c)(3) nonprofit headquartered in Portland, Oregon, is actively cultivating an environment of true inclusion by creating meaningful work for people with disabilities.

Source: Relay Resources

[ad_2]

Source link

November 20, 2023
About 20 Million Americans Work Part-Time During the Holidays. Here’s How You Can Set Them Up For Success. | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

With the holiday season right around the corner, businesses across the economy are already making plans to bring in temporary workers. In many cases, these workers will be completely new to the businesses that hire them. Yet they won’t just be working a few shifts — they’ll also be auditioning for more opportunities, including permanent positions.

That’s because the holidays are a great time to “try before you buy” in the labor market. Businesses that staff up to fill seasonal needs have a unique opportunity to see how candidates perform, not just in an interview but actually in the workplace.

Close to 20 million people will work part-time during the holidays. So how can managers set their new co-workers up for success?

Related: 4 Ways to Avoid Holiday Staffing Blunders

Step 1: Onboarding

Onboarding is the most critical step toward success with temporary workers, both for getting to know their preferences and for aligning expectations. People who work on a temporary or flexible basis have diverse motivations. Most of them are working to pay for essentials, so earning money is certainly at the top of the list. After that, things get a little more complicated.

Some workers are looking for shifts primarily to fit around their other responsibilities. Whether it’s because of caring for loved ones, education or another job, these workers generally want to work at the same time every week with a reasonable expectation that their shifts won’t be canceled. They still need some flexibility, though, in case something unforeseen comes up, like a child home from school, a big exam or overtime in another workplace.

Other workers are more interested in personal autonomy and growth. They want to set their own schedules, which could be different every week, and they want to pick up new skills to give themselves more options in the labor market. They may want to try out a variety of roles, and they can bring new ideas into the workplace.

The time to find out workers’ preferences is during onboarding. Ask what sort of schedule would work best. Find out whether they want to hone their skills in one position or try out several. See if they can be “on call” to work on demand. Talk about whether a permanent position could be a realistic goal for both sides.

Step 2: Training

Businesses don’t want to invest a lot of time or money in training if a worker is simply going to move on a couple of weeks later. So it’s crucial to use what you’ve learned during onboarding to assign training in the most efficient way.

If a worker wants to try for a permanent position, then there’s a greater chance they’ll be staying with you and more reason to train them. The same is true if they want to stay with one role during their time in your workplace. By contrast, workers who are just looking for a little extra money may not want to pursue these opportunities. Calibrate your investment according to the expectations that you’ve already set.

Related: Hiring This Type of Employee Can Protect Your Business From a Volatile Market

Step 3: Scheduling

When it comes time to set a schedule, the information you collected at onboarding comes front and center again. Even if you’re only looking for extra labor during the holiday season, you probably want consistency in the workers who show up from day to day. It means only having to train people once, as well as higher productivity as they gain experience.

To start, identify the workers who can work on the most consistent basis, and assign them shifts first. Try to place the same workers together as much as possible, so they get used to each other’s rhythms. Assigning the bulk of shifts in this way will also cut down on bureaucracy since the same workers will be involved most of the time.

Workers want consistency, too. One of Instawork’s recent surveys showed that 86% of workers on our platform wanted to work at least two to four shifts per week at the same business, and 55% wanted a whole week of shifts or more. Another one of our surveys suggested that more than 70% of these workers could commit to five days a week of shifts for a month or more.

Step 4: Retention

Some businesses will want to make permanent hires as soon as the holiday season is over. But in other cases, a few brief and frenetic weeks may not be enough to make a decision. Here it’s important to offer an intermediate stage, like a long-term assignment, to avoid losing the relationship. When employers show commitment, workers are more likely to reciprocate.

Even for businesses that aren’t considering workers for permanent positions, holiday hiring isn’t just a one-shot deal. Most of them will need people in the years to come, and bringing the same people back will save time and money. In these situations, it’s important to offer workers an incentive — a bonus for returning, a promise of more training, a higher-level position, etc. For example, the best front-line workers this year might be your peak-time supervisors next year.

You can keep the relationships with temporary workers alive using small gestures during the year — a photo from the holidays, a birthday card or a reminder that you’ll be hoping to work with them again. These gestures don’t cost much, but they can save you thousands in recruiting and training.

Related: 5 Tips to Ace the Busy Holiday Season With Flexible Work

All of these things come in addition to the basics that workers truly appreciate: helpful and upbeat co-workers, a clean, safe workplace and prompt payment for their time. Especially around the holidays, when shifts can be non-stop and intense, keeping a positive attitude and a touch of the festive spirit can go a long way to support morale. Just like in a family, there are some people you might only see for a few days a year — make that time count.

[ad_2]

Daniel Altman

Source link

November 8, 2023
Inside look: The hunt for AI talent | Bank Automation News

[ad_1]

Financial institutions are on the hunt for AI talent as AI, machine learning, natural language processing and generative AI continue to gain importance in bank operations. In fact, 99% of bank executives are hiring talent to support generative AI initiatives, according to Google’s New Banking Survey, released in October. The report surveyed 350 IT decision-makers […]

[ad_2]

Whitney McDonald

Source link

November 6, 2023
The laid-off masses have a message for Mark Zuckerberg and Marc Benioff: We’ll never come back

[ad_1]

For some workers, it doesn’t matter how grim the economy is, how dismal the job market, or how thankless their current job. If they were laid off—especially during the pandemic—many workers would never dream of returning to the place that dropped them.

Tech companies have laid off nearly 245,000 workers this year alone, per tracker Layoffs.fyi, and Silicon Valley heavyweights like Meta and Salesforce have led the pack, each culling thousands of jobs apiece.

But workers weren’t losers for long. Now, as the job market shifts once again, companies are scrambling for talent, and some are angling for the very kinds of workers they just cut. The real question is what will happen when those workers decide they don’t want them back?

Over half (58%) of 6,000 professionals who responded to a recent Glassdoor poll said they’d never return to a company who laid them off. In the tech sector specifically, just 46% of workers said they’d boomerang. Men were slightly more likely to consider boomeranging than women, and older workers were more open-minded than younger ones.

“As the labor market has softened over the past year….some regrets are inevitable,” Aaron Terrazas, chief economist at Glassdoor, tells Fortune. A few sectors have begun “cautiously” ramping up their hiring as their fears of a recession recede, but “corporate reputation casts a long shadow.”

The legacy of layoffs—and how they were carried out—could “come back to haunt companies when the pendulum of the labor market inevitably swings back,” Terrazas adds. “Former employees can be a company’s most loyal advocates, or they can be the most piercing critics.” The result depends on the nature of the company.

Salesforce laid off about 10% of its workforce earlier this year, but now CEO Marc Benioff is encouraging those people to apply to fill its 3,000-plus open roles. “Our job is to grow the company and to continue to achieve great margins,” Benioff said in September. “We know we have to hire thousands of people.” He’s hoping a good portion of those people will be boomerangs. Benioff admitted to attempting to lure workers back in with an “alumni event for people who are employed in other companies to say—it’s okay, come back.”

As for Meta, after laying off about a quarter of its workforce, jobs are open again, and the company has even constructed a specialty “alumni portal” for boomerangs looking to cut the line.

Why boomeranging makes workers cringe

Leaving a job is fraught, especially when it’s the worker’s call. Eighty percent of employees who left their jobs during the so-called Great Resignation came to regret it. That would make boomeranging, for them, a bit less conflicted—and explains why boomeranging is on the rise across the board. But for workers who had no say in the matter, it’s no doubt a rocky call to make, with minimal precedent.

On Blind, an anonymous employee forum, one Stripe worker recently asked whether layoff boomerangs are common. “I know if you get PIPed out or fired you are basically added to a ‘do not hire’ list but what happens with a layoff?” the poster wrote, referring to performance improvement plans. “Has anyone ever returned back after being laid off? I’ve surprisingly never seen it happen in my career.”

A Microsoft employee said they’d seen it with “multiple engineers,” particularly those who were laid off during the Great Recession, only to rejoin a year or so later. Some were re-interviewed, but it was a “mere formality.”

Granted, boomeranging—if an employee can withstand the early awkwardness—could be a strong move. A worker likely already knows the ropes, can skip the interview process entirely, and won’t need to prove themselves or forge new relationships with managers.

Naturally, it would help the company too. “Re-hiring employees means saving on recruitment costs, onboarding and training, and they bring the benefit of newfound knowledge from their most recent employment experience,” Ryan Wong, CEO of software firm Visier, wrote on LinkedIn last year. But, after a year, workers are significantly less likely to consider boomeranging. And if they do come back, they’re likely expecting an average pay bump of 25%, Wong added. That leaves employers with the question: How much are your boomerangs worth?

[ad_2]

Jane Thier

Source link

October 21, 2023
Want to Attract Diverse Talent? You Need to Work on Your Employer Brand — Here’s Why. | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

Now more than ever, this question of what a business’ values, perspective, and stance are on certain social issues is under the microscope of diverse applicants. According to Monster.com, 86% of applicants actively engaged in a job search care about an employer’s reputation with regard to diversity, equity and inclusion (DEI). The same survey found that 62% of applicants would turn down a job offer if their employer did not support DEI.

In this hiring climate, where hundreds of thousands of jobs have been added to the economy in 2023 alone, employees are looking for their perfect match and feel certain they can afford to wait until they find it. Without communicating DEI as a key value of your business on online platforms, you could be turning off high-value applicants who could join your team.

So, how can businesses like yours stand out in the vast sea of “now hiring” signs and attract the best of the best diverse talent? The answer is clear: Develop an employer brand.

What is an employer brand?

Employer branding is a marketing and communication strategy that builds an emotional connection between the potential employee and the employer by demonstrating a positive image and reputation in its marketing.

Employer branding involves the rhetoric that’s written on the company’s website, the posts it touts on LinkedIn, and the word-of-mouth reputation that represents its staff makeup, values, and commitments.

When a diverse applicant sees your newly posted job description and is curious about your business, they likely go to your LinkedIn profile or website to see if yours is the kind of organization they’d like to be a part of. One of the ways companies can present themselves in the most positive light to these applicants is by discussing their values and initiatives around DEI.

However, there are several missteps companies make when engaging in employer branding that could turn diverse employees off in seconds.

Related: How Employer Branding Can Help Your Company Be Perceived As A Great Place To Work

How employee branding could be turning off diverse candidates

From the brand’s policies to its website messaging, these five mistakes may cause diverse candidates to dismiss your job posting before they even apply.

1. Your business doesn’t have a DEI statement on job applications

If you don’t have a DEI statement at the end of your job applications, you’re sending the wrong message to diverse candidates. This statement can be simple and should say something to the effect of “We’re an equal opportunity employer and are committed to providing equal employment opportunities for all applicants and employees, regardless of race, religion, gender, national origin, age, disability, marital status or veteran status.”

As basic as this statement may sound, it acts to lower the perceived barriers to entry for some diverse applicants. It’s the first step in DEI-centric employee branding that serves as a handshake to diverse candidates. It communicates that “all are welcome” and that one’s identity doesn’t qualify or disqualify someone from being here. It’s a small step that can lead to more diverse applicants applying for your open role.

2. Your business doesn’t offer ERGs, BRGs, or wellness groups

An employee resource group (ERG), business resource group (BRG), or wellness group is an important component of promoting a sense of belonging in a company. Diverse applicants are looking for businesses that offer affinity groups, especially if the staff makeup has a sizable group of individuals who share a similar identity.

It doesn’t always have to be about race, gender, or other common identities. Groups can also be formed around shared values like faith, health, sports and more. The goal is to demonstrate that your business is making a good-faith effort towards promoting community and belonging, and these are important components of a desirable workplace, especially for diverse applicants. Having a page on your business’s website or social media showcasing special groups that employees can join can help your business stand out and appear more welcoming to diverse applicants.

Related: How to Utilize Employee Resource Groups for a More Diverse

3. Your business doesn’t offer a flexible work environment

It’s 2023, and more applicants are looking for flexible workspaces, whether they’re a parent or someone looking for more work-life balance (or work-life blend, as I call it), companies who brand themselves as flexible or accommodating workspaces are more attractive to potential employees than those who enforce rigid work schedules and mandatory in-office days.

Since the world was taken by storm by the Covid-19 pandemic, more diverse applicants, including people of color, those with disabilities, and gender minorities, began looking for “safer” spaces to work. Minorities have always had to face microaggressions and adapt to the dominant culture in the workplace. However, having more flexibility around their office environment and schedule has helped those individuals find a work-life blend and has eased the burden of daily microaggressions and code-switching in the workplace.

Related: How Code-Switching Hurts People of Color in the Workplace

4. Your business doesn’t offer outside-of-work activities

We all like to have fun and enjoy quality time with others. Companies that brand themselves as “fun” workspaces or ones that offer outside-of-work activities like company outings, retreats or sports activities can attract more diverse applicants and likely retain them longer. Although not every employee should have to participate in these activities, it’s nice to have the option for diverse candidates who are seeking community in the workplace.

These activities aren’t just for show; they allow employees to bond and cultivate a true sense of belonging and community. Belonging is a critical element of a diverse workplace and should be promoted. Most companies do the bare minimum in offering outside-of-work activities. The consequence is that it can lead many minorities to feel isolated or disconnected from their coworkers–and this certainly does not attract or retain diverse talent.

5. Build an employer brand that attracts — not repels — diversity

Your business could have some of the best benefits packages and offerings available, but if you’re not actively discussing them, writing about them on your website and on social media, and sharing them in company emails, your employee brand isn’t going to benefit.

Don’t neglect to speak about issues potential employees care about, like maternity and paternity benefits, flexible hours, and remote working, as well as diverse representation at all levels of the organization.

These components of an employee brand can make or break your business’s competitiveness in the hiring market. Be the brand that stands out and attracts the best of the best by honing your employer brand and letting diverse employees come to you.

[ad_2]

Nika White

Source link

October 20, 2023
Seasonal Hiring Is Slowing Down at Retailers—But Not Amazon | Entrepreneur

[ad_1]

While the holiday season historically yields an increase in shopping — and subsequent staff needed to accommodate — this year may look different for prospective seasonal workers.

Big-name retailers, such as Macy’s and Dick’s Sporting Goods, are cutting back on their seasonal hiring initiatives, scaling back their workforce after two years of increased foot traffic following the pandemic, The New York Times reported.

Macy’s plans to hire 38,000 workers, 3,000 fewer than its 2022 target — and far fewer than 2021 when Macy’s aimed to hire 76,000 people during the holiday season, both in permanent roles and seasonal jobs, according to the Times. Dick’s Sporting Goods intends to hire up to 8,600 seasonal workers, a slight increase from the 8,000 in 2019, but down from the 9,000 hired last year and the 10,000 in 2021.

A report from career coaching firm Challenger, Gray & Christmas last month found that retailers are forecasted to hire 410,000 seasonal workers this coming holiday season, marking a 15-year low, Yahoo Finance reported in September. Some economists interpret these hiring trends as signs of the labor market cooling down from its pandemic-fueled boom two years ago.

Related: Want to Be a UPS Delivery Driver? The ‘Hottest’ Job in the Country Only Has 17 Positions Open.

“The seasonal hiring market looks a whole lot more like 2019 than those pandemic bounce-back years,” Nick Bunker, director of North American economic research for Indeed, told the Times. “I really do think this is emblematic broadly of what we’re seeing in the U.S. labor market, where demand for workers overall is fairly strong but down from where it was in the last year and a half.”

Meanwhile, searches for seasonal jobs have increased by 19 percent compared to last year, per data from Indeed, while the number of available positions has decreased by 6 percent, per The Times. Companies that assist businesses in finding temporary workers note that major retailers have been slower to announce their hiring plans this year, and fewer job postings are marked as “urgent” on Indeed.

However, one company is the exception to the scale-back hiring trend. Amazon announced last month that it would be hiring 250,000 seasonal employees, a 67% increase from hiring initiatives over the past two years.

The company is also adding signing bonuses of up to $3,000 for certain hires.

Related: Amazon Is Hiring 250,000 Workers Ahead of the Holidays, With Some Making Up to $28 an Hour. Here Are the Roles It’s Filling.

[ad_2]

Madeline Garfinkle

Source link

October 16, 2023
Why Benefits Can Be More Attractive Than Higher Salaries | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

In the cutthroat business world, attracting and retaining the best talent is a perennial challenge. Many employers often gravitate towards offering higher salaries to lure potential candidates. However, there’s a compelling case to be made about the effectiveness of offering employee benefits over mere salary increments. One of the most persuasive arguments lies in the realm of tax benefits. Here’s a deep dive into why you might want to adjust your compensation strategy.

1. Tax Advantages Take the Lead

For businesses, employee benefits are tax-deductible. This can significantly reduce the company’s tax burden compared to increasing salaries, making it more economically feasible. Furthermore, many benefits provided to employees, such as health insurance, are often excluded from taxable income, offering employees a double advantage: receiving the benefit and reducing their taxable income simultaneously. Think about it this way. Everyone needs health insurance and to save for retirement. Both essential needs are tax-deductible to the employer and the employee. It is far more efficient to buy/receive through an employer than take a higher salary and pay for these two essential needs with after-tax money. And it is far more effective to provide these benefits than paying a higher salary which means paying higher FICA taxes at 7.65% and higher workers’ compensation costs.

Related: Listen to Trent Bryson’s ‘Grit Rising’ Podcast for Entrepreneurs

2. Holistic Employee Well-being

Offering benefits like health, dental, and vision insurance signifies a company’s commitment to the holistic well-being of its employees. A workforce that feels cared for in all aspects of their lives is generally happier, healthier, and more engaged.

3. Loyalty and Retention Skyrocket

A comprehensive benefits package can lead to reduced employee turnover. When workers feel they’re receiving long-term value from their employer, they’re less likely to jump ship, thus saving companies significant costs in hiring and training. This is especially true for employees who have dependents on their health insurance program.

Related: 4 Critical HR Mistakes Companies Make That Hurt Their Growth

4. Enhances Overall Job Satisfaction

Benefits such as paid time off, professional development allowances, and wellness programs go a long way in ensuring employees are content and engaged, positively impacting their output and commitment.

5. Financial Flexibility for Employees

While high salaries can be enticing, they might not address some of the immediate concerns employees might have, like health costs or childcare. Benefits that cater to these concerns provide a form of financial relief and security. Additionally, newer benefit offerings like pet insurance and student debt relief cater to someone emotionally as well as financially.

6. Positive Company Culture

Cultivating a culture where employees feel valued often starts with the benefits package. Perks that promote work-life balance and well-being contribute to a more harmonious and productive work environment.

Related: 6 Costly Mistakes CEOs Make Managing Business Insurance and How to Avoid Them

7. Boosts Productivity

Employees who don’t have to stress over healthcare costs or finding the next learning opportunity are more likely to be focused and efficient. This, in turn, drives the company’s growth. An example is financial wellness. If an employee continues to deal with the stresses of credit card debt, high interest rates on loans, and the feeling of never clawing their way out of financial troubles, they are more apt to sacrifice mental clarity for financial gain. Rushing off to a second job as a waiter instead of staying late on an important project is a prime example of this.

8. Setting Your Company Apart

In saturated job markets, what sets one company apart from another may not be the salary but the unique benefits they offer, making them a more attractive option for top talent.

Benefits Have Team-Building Power

While a competitive salary is undeniably crucial in the recruitment process, the long-term advantages of a robust benefits package, especially the tax incentives, cannot be understated. For the forward-thinking entrepreneur, this could be the game-changer in building a dedicated, satisfied, and high-performing team.

For more information on setting up, improving upon, or benchmarking your own benefit programs, click here.

[ad_2]

Trent Bryson

Source link

September 18, 2023
5 Things to Look for When Hiring a Patent Portfolio Manager | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

Hiring a patent portfolio manager is a milestone that will enhance your enterprise’s patent program. Managing the patent process efficiently becomes more difficult at scale without dedicated staffing. Without proper planning, your inventors’ hard-won innovations risk being under-protected by your enterprise.

Hiring an incompetent patent portfolio manager may result in valuable ideas remaining unpatented, a decrease in innovator engagement, unjustified patent prosecution costs and an inadequate return on your IP investments.

Unearthing patents from your innovators requires a patent portfolio manager with technical expertise, standout interpersonal skills and undeterred persistence. Simultaneously, strengthening your patent portfolio against competitors demands significant patent-related experience. And generating maximum returns on IP investments demands sound business acumen.

An adept patent portfolio manager should possess a diverse skill set aligned with your enterprise’s objectives. Evaluating candidates on these five key competencies can help you select the right one:

Technical expertise

Legal experience

Eye for detail

Interpersonal skills

Business acumen

Read on as we delve deeper into these core attributes.

Related: An Entrepreneur’s Guide to Inventing

1. Technical expertise

Inventors typically have a lot on their plate. Their primary focus is on innovation and product development with little time for the administrative tasks needed to keep the patent program running. Amid their busy schedules, they might overlook reporting their innovations for patenting.

Sometimes, they might even dismiss an invention as too obvious, deciding not to report it at all. Consequently, you may miss out on potentially patentable ideas.

A portfolio manager who is familiar with your enterprise’s technology can have conversations with the inventors, guiding them on which ideas should be protected. Ideally, a seasoned employee or someone acquainted with your enterprise’s technological focus would be suitable. They need not understand all the innovation, but they should have enough background knowledge to identify and capture the best ideas.

2. Legal experience

Addressing complex queries about the likelihood of getting a patent, complete life-cycle cost estimates and strategic filing decisions across multiple jurisdictions can be challenging without legal experience.

Moreover, interacting with outside patent counsel in the absence of knowledge of patent terminology can lead to ineffective communication. Ineffective communication between a patent portfolio manager and outside counsel can lead to misunderstandings about strategic patent goals, potential delays in the patent prosecution process, increased costs and unsuccessful patent filings. These complications can, in turn, jeopardize the enterprise’s intellectual property strategy to protect its market.

A patent portfolio manager with legal experience, potentially from a law firm or corporate role, can effectively communicate with counsel, answer intricate questions and guide the implementation of cost-effective patent filing strategies across multiple jurisdictions.

3. Eye for detail

Managing large patent portfolios with hundreds of matters across different countries can be overwhelming due to extensive tracking, communication and administrative work.

Moreover, patent rights for an invention are given country by country. It’s perplexing to efficiently navigate the complexities of obtaining patent rights across different countries. Coordinating with legal counsel in each jurisdiction, managing numerous email correspondences, answering specific questions, reaching out to the right individuals and getting signatures demands an eye for detail.

A detail-oriented patent portfolio manager can handle large patent portfolios effectively. With a strong understanding of your enterprise processes and excellent organizational skills, they ensure timely responses. They also excel at obtaining necessary approvals and signatures while maintaining a well-organized administration.

Related: The Basics of Protecting Your Intellectual Property, Explained

4. Interpersonal skills

Inventors must intensely focus on their product innovation with little time to engage in extensive paperwork. Distractions and delays in submitting invention disclosures can starve your patent pipeline. This results in a rushed patenting process, seeking patent protection just before product launch.

Besides, it’s not unusual for enterprise members, legal counsel or foreign associates to be awaiting answers or information. The intensity of delivering a product leaves little time to focus on the big picture.

Given the multitude of outstanding queries and patent-related tasks in an enterprise, this role requires strong interpersonal skills and diligence. Mining patents requires constant sleuthing to find what the inventors are doing. The patent manager must build solid relationships with inventors and establish clear communication channels for efficient reporting of potential inventions, ensuring all stakeholders receive timely information.

5. Business acumen

Enterprises often face challenges in aligning their patent strategies with wider business goals.

It’s daunting to gauge the commercial potential of patents, navigate patent licensing negotiations and make strategic litigation decisions, all while ensuring cost-effectiveness. Alignment of the patent program with strategic goals requires focus and an even keel.

Thus, unlocking the true market potential of your patent portfolio demands that the patent portfolio manager possesses strong business acumen.

Related: Create the Strongest Patent Possible With These 5 Tips

A capable patent portfolio manager can prove to be more cost-effective and yield better results in comparison to being dependent on an organic process internally or even on outside legal counsel for various tasks like mining patents, strengthening patent portfolios and generating higher returns on IP investments.

The perfect candidate for the patent portfolio manager position should demonstrate a combination of technical proficiency, legal background, attention to detail, strong interpersonal skills and business acumen.

Recruiting one can be a challenging task, but often the best candidates are right under your nose. They might be among the external counsel you already work with, exhibiting proficiency in tasks you need to get done at competitive costs. It could even be found within the enterprise with a prolific inventor having an interest in a bigger role in the legal department. These professionals could transition into a full-time role within your enterprise.

Drawing from over 25 years of experience in patent prosecution, I can vouch that hiring a competent patent portfolio manager, as outlined in this post, can contribute positively to your enterprise’s success in conquering your patent landscape. You can further empower your patent portfolio manager by adopting the right patent management software.

[ad_2]

Thomas Franklin

Source link

September 12, 2023
What is The ‘Coffee Cup’ Test? Watch Out For This Tricky Interview Trend. | Entrepreneur

[ad_1]

Imagine you’re interviewing for a new job. You arrive at the office, the hiring manager greets you, and then walks you into the kitchen to offer a refreshment.

You might be getting set up for the “coffee cup test” — an interview technique that’s gotten a lot of attention on social media. Some say it’s a great way to test how considerate a candidate is; others say it’s an empty trick that says more about the interviewer than it does the interviewee.

So what is the test, and what should you do if you’re confronted with it? Read on.

[ad_2]

Jason Feifer

Source link

September 7, 2023
10 Pros (and Cons) of Hiring International Employees in 2023 | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

Thanks to the abundance of connective technology, hiring and working with people in remote locations, including employees in other countries, is easier than ever. Hiring international employees can be advantageous for your business, helping you save money while simultaneously broadening your talent pool.

But is this truly worthwhile in 2023? Let’s take a look.

Related: The Rise of Self-Employed in the Global Workforce and What Business Owners Need to Know

The benefits of hiring international employees

Hiring international employees comes with an array of advantages, including:

A wider talent pool. One of the most appealing benefits of hiring people in other countries is getting access to a wider talent pool. There are nearly 400 million people in the United States, but that doesn’t mean much if you have several important job openings and no applicants eager to fill them. Broadening your search internationally could be exactly what you need to find more people and fill those vacancies.

Relatively easy traveling logistics. Thanks in part to the Visa Waiver Program (VWP) and ESTA, international travel to the U.S. is easier than ever. Instead of making complicated arrangements and relying on tedious paperwork, your employees may be able to make arrangements to visit the United States for short business trips by filling out electronic applications that only take a few minutes.

Remote collaboration potential. Only a few decades ago, working with people in other countries was practically impossible for most businesses. But in 2023, we have access to better collaboration tools than ever. Cloud collaboration platforms, powerful video chat apps and intuitive project management systems make it much easier for employees to engage with each other in real-time, regardless of their geographic location.

A road to labor savings. Here in the U.S., we’re used to people having a median salary of around $50,000. And if you want a maverick with tons of experience, you’ll pay a lot more than that. But labor simply isn’t this expensive elsewhere in the world. Hiring talent where the cost of living is lower means employers benefit from lower labor costs.

Cultural touchpoints for expansion. If you’re interested in expanding your business to new markets overseas, hiring employees in those countries could give you cultural touchpoints. These hires can help you better understand your target countries and develop strategies for efficient, successful expansion.

Diversity and problem-solving capabilities. There’s also an advantage to having a diverse staff of people working together. Studies have found that diverse teams are better at decision-making and problem-solving because they tend to focus more on facts.

Related: The Benefits and Risks of Launching New Products in New Markets

The downsides of hiring international employees

There are some important downsides to acknowledge, however.

Registration and compliance. From a legal perspective, hiring and maintaining employees internationally can be a bit messy. You may be subject to laws and regulations imposed by foreign nations, which can increase compliance costs and cause legal headaches. At the very least, you should hire a lawyer to help you navigate these complexities, which can ebb away at the labor cost savings you’d otherwise enjoy.

Wage increases and employer demand. Hiring people in certain countries used to be absurdly inexpensive, but wages are beginning to increase on an international scale. This is great from an international economic perspective, as the quality of life is increasing for billions of people. However, because more employers are seeking international employees and employment demand is rising, employees are demanding higher wages and more benefits.

Communication barriers. English is the most popular language in the world, with 1.3 billion speakers in 2023. You shouldn’t have trouble finding employees who can speak English competently, but there may still be some communication barriers if these speakers are inexperienced or if they aren’t able to grasp the nuances of native speakers. Translation services and intermediaries may be able to help, but this is still a barrier you’ll need to account for.

Cultural differences. Finally, keep in mind that cultural differences can make an impact on your business. Employees in other countries may have different philosophies about work. They may prefer working in a totally different time zone. They may have different holidays. They may approach conflict resolution in totally different ways. It’s a good idea to immerse yourself in their culture so you can understand where they’re coming from if you want a healthy working relationship.

Should your business hire international employees in 2023? In some ways, the prospect is more attractive than ever, with fewer communication and travel barriers and more options in terms of both available countries and talented workers. But the decision isn’t exactly straightforward. Make sure you fully understand the laws and regulations associated with hiring foreign employees in your destination country and weigh all the pros and cons before moving forward.

[ad_2]

Anna Johansson

Source link

September 5, 2023
9 Traits to Watch for When Hiring in 2023 | Entrepreneur

[ad_1]

Opinions expressed by Entrepreneur contributors are their own.

Every business owes its success not just to its leaders but also to the employees who carry out the day-to-day operations. But how do you find the right employees for your business?

You can develop a more effective hiring strategy by prioritizing certain traits. Focus on building relationships with the best candidates who show the following qualities.

1. Personable

Even in an age of email and chatbots, strong interpersonal skills matter for client-facing roles. And all employees, even remote workers, need to get along with their team members.

Look for applicants who demonstrate strong people skills: smiling, shaking your hand firmly, maintaining eye contact and mirroring body language are just a few. This trait isn’t about hiring an extrovert over an introvert; instead, it’s about finding a candidate capable of interacting in a likable, relatable manner.

Related: 10 Strategies for Hiring and Retaining New Employees

2. Goal-Oriented

Asking job applicants about their five-year plans may sound cliché, but it’s an easy way to gauge their level of personal ambition. An applicant with a clear plan for the future will tend to be goal-oriented, which extends to how they carry out their day-to-day duties.

You might also understand a candidate’s aspirations by looking at the awards and achievements listed on their résumé. Previous accomplishments point to an ambitious, goal-driven attitude that will likely carry into the future.

You can also nurture this trait by providing opportunities for professional development and advancement, which maximizes the talents of your new hire.

3. Problem-solving

Business is all about overcoming challenges. The most valuable employees can think through these challenges and develop workable, efficient solutions.

You know that problem-solving abilities are essential for those in technical fields — but you should also cultivate these skills in everyone who works for your company.

How do you find out whether a candidate is a problem-solver? Asking questions about when the candidate had to think outside the box to solve a workplace problem is a good start. Sometimes, the candidate’s references can point out clear examples of when the candidate addressed challenging problems head-on.

Related: What to Consider When Hiring Employees

4. Technically proficient

If you’re hiring for a specialized role, you’ll want to ensure that you hire candidates who have the experience and expertise you need.

For instance, bookkeepers and accounts receivable specialists should be familiar with basic accounting software. You might also prefer candidates who know the same software platforms that your company depends on.

For hybrid or remote positions, your candidate must have experience using video conferencing or project management applications to better coordinate with you and other team members.

5. Confident

Fortune favors the bold — especially in the world of business. You want to assemble a team of decisive thinkers. Employees who delay decisions because they second-guess themselves or overanalyze the situation, will do more to prevent innovation than promote it.

Instead, seek out job applicants who can clearly articulate their strengths and back them up with real-world examples from their previous positions. While interview jitters are understandable, an applicant who avoids eye contact or struggles to articulate might lack the confidence you’re looking for in your organization.

Related: Workplace Issues Often Trickle Down From the Top. Have You Tried These 3 Ways to Fix Your Biggest Challenges?

6. Teachable

Technical proficiency is important, but every industry is evolving rapidly. Few traits are as valuable as the willingness to learn. While the ideal candidate should be confident about their existing skill set, an ability to adapt to new technologies or business models is often far more valuable.

Ask candidates about new skills they’ve picked up or acquired from previous employers. Better yet, ask your applicants what skills they want to develop while working for your company. Their answers will reveal a lot about their ability to learn new skills as well as their eagerness to apply these skills in a new setting.

7. Trustworthy

Personal integrity is about more than just following the rules. An employee who demonstrates consistent honesty and integrity will contribute to a transparent company culture. You also need employees you can depend on during every business cycle phase.

The best way to assess the trustworthiness of a job applicant is by contacting their references — particularly previous employers. Ideally, you want to learn that your applicant has a strong attendance record and that their previous employers could rely on their participation and support.

Related: The Best Employees Have These ’31 Flavors’

8. Collaborative

Business is a team sport, so you need to hire candidates who play well with others. Even if the position requires much solo work, you’ll still want to know that your employees can function well as a team when called upon.

This trait often surfaces during the interview process. When you ask an applicant to list past accomplishments, listen for clues indicating that they collaborated with other team members.

If you can’t tell from this list alone, ask probing questions about how the candidate has worked with coworkers. You can even ask about how they’ve handled past conflicts to learn how well they’ve navigated office relationships.

Related: Quiet Quitting Preceded Another Insidious Workplace Issue That’s Unfolding Right Now, Survey Reveals

9. Loyal

Employee turnover is a major threat to any company. The time and money you spend replacing an employee can be put to better use in growing your core business. The best employees commit to your company for multiple years, allowing you to build a lasting relationship and maximize their skills.

Be wary of workers whose resumes indicate a lot of job-hopping. That’s especially true if their past work experience has been in fields similar to yours. Don’t dismiss these candidates entirely — sometimes, finding a company culture that fits takes a while. But make sure to investigate the reasons for so much past instability.

Identifying candidates with the most sought-after traits will improve your chances of assembling an effective team. It will also make screening your job applicants easier, streamlining the hiring process.

For critical positions, executive search firms can assist you with screening and hiring top-quality candidates. But to ensure that you staff your business with the right people at every level, look for these key traits of successful employees.

[ad_2]

Shawn Cole

Source link

September 1, 2023
Police Overtime Pay Skyrocketing Amid Staffing Shortages | Entrepreneur

[ad_1]

Due to acute staffing shortages, San Francisco Deputy Sheriff Barry Bloom has worked an average of 95 hours per week since 2016, often exceeding 100 hours per week in recent fiscal years, the San Francisco Chronicle reported. While Bloom earned $123,790 in base pay in 2022, his total income reached $530,935 with overtime.

Since 2016, Bloom, a public safety monitor at San Francisco City Hall, has accrued $2.2 million in overtime pay, making him the highest overtime earner among city employees.

The San Francisco sheriff department is short 176 sworn full-time positions, 41 non-sworn positions, and 24 cadets, officials told The Chronicle. In response, the sheriff’s office is “aggressively hiring” to fill the staffing shortage that has been persisting since the onset of the pandemic.

Bloom’s colleagues have also earned substantial overtime pay due to persistent staff shortages in the sheriff’s office. While all employees are required to work at least two overtime shifts per week, some go beyond that, earning up to four times their base salaries.

After, Bloom, the second and third highest earners in his department have also raked in millions over the past seven years, with deputy sheriff Kristian DeJesus making $1.9 million since 2016, and senior deputy sheriff Michael Borovina Jr. making $1.8 million.

Still, there are consequences to officers being overworked, per the Sheriffs’ Association.

Related: Volunteer Firefighters Are Getting Older and Enrollment Is Shrinking, Posing a Risk to Americans

“We have periods where deputy sheriffs get tired of all the forced overtime, and they look for jobs elsewhere because it’s just too much,” Ken Lomba, president of the San Francisco Deputy Sheriffs’ Association, told The Chronicle.

“We’re just one emergency away from a lawsuit,” he added.

Meanwhile, it’s not just the Bay Area that’s grappling with shrinking headcounts.

Police departments across the country have been struggling with severe staffing shortages, scrambling to fill roles from patrol officers to 911 operators, CNN reported in July 2022, noting that agencies in cities like Atlanta, Kansas City, and Dallas are short hundreds of officers.

According to the Police Executive Research Forum, the number of officer resignations was 47% in 2022 as compared to pre-pandemic levels of 2019. Furthermore, the number of sworn officers on staff was 0.9% lower in January than the same period in 2022, and down 4.8% compared to January 2020.

[ad_2]

Madeline Garfinkle

Source link

August 24, 2023
Salary Expectations Skyrocket as Job Confidence Dips: Expert | Entrepreneur

[ad_1]

Salary expectations for U.S. workers have reached a record high, according to the New York Federal Reserve’s annual employment and labor market survey.

The average “reservation wage” (the minimum an individual would accept for a new job) rose to $78,645 in July 2023, up from $72,873 for the same period last year.

The uptick in salary expectations was most pronounced in those over 45, who on average had reservation wages of $80,239, while those under 45 had expectations of $77,077.

However, Julia Pollak, chief economist at ZipRecruiter, told Entrepreneur that the report also showed that an increase in reservation wage may signal lingering effects of post-pandemic wage expectations, and salaries not keeping up with the inflation rate.

“Anytime there’s rapid growth, workers begin to expect that to continue,” Pollak says. “Workers may also be expecting to see the kind of growth they saw during the pandemic persist. The consumer price index has gone up so much, and wages have also risen about the same amount, whereas they should have risen faster by now, so workers are expecting some sort of catch-up in wages.”

While the job market was in seekers’ favor for the majority of 2022, the tables have turned, and American workers are less certain about their ability to receive offers in the coming months, the new report also found.

Individuals expecting to receive a job offer in the next four months dropped to 18.7% in July 2023, down from 21.1% in July 2022. Furthermore, expectations of receiving multiple offers fell more significantly, from 25.7% in July of last year to 20.6% in July 2023.

Still, the decline in confidence is relatively minor, Pollak says, and may simply reflect the job market returning to healthy norms following the post-pandemic hiring frenzy.

“Numbers have come down from such a high, and from record high hires and record high job openings and everything, that it does mean that some of the people who got a career boost are now struggling and finding it harder to find jobs,” Pollak said. “In a healthier labor market, there will always be winners and losers. There will be more people who are finding it challenging, and that is sort of to be expected.”

Related: Layoffs Abound Across Industries — But These Major Companies Are Still Hiring

While the number of Americans searching for new jobs decreased by 5.3% in July from a year prior, satisfaction with wage compensation rose by 3%, along with nonwage benefits (1.7%), and promotion opportunities (4%).

Related: This Industry Has $1 Trillion in Funding But Can’t Find Any Workers

[ad_2]

Madeline Garfinkle

Source link

August 22, 2023

Previous Page
1 2 3 4 5 6 … 9
Next Page

ReportWire

Breaking News & Top Current Stories – Latest US News and News from Around the World

Blog
About
FAQs
Authors

Events
Shop
Patterns
Themes

Twenty Twenty-Five

Designed with WordPress