The race for talent is on. Companies are offering many different perks and benefits to stand out from the crowd. But are these what candidates and employees really value? Or just putting lipstick on a pig? In this week's Talent and HR News Weekly Roundup, we're sharing some of the latest thinking around perks, benefits, and work style.
1) Wedding expenses and Tesla leases: The arms race in employee perks from Washington Post
"Nick DeMarco runs a small biotech startup in Raleigh, N.C., that makes scientific instruments. But what got his company, Practichem, attention from CNBC's "Power Lunch," the Huffington Post, Fortune and other media outlets last week wasn't the innovative products he's making. It was his promise to lease Tesla Model 3s to employees when they become available. "The world’s changed a lot, and technology people are really hard to bring in," DeMarco, who has 10 full-time employees and is trying to double that number with new hires, said in an interview Monday. He believes spending money to lease the wildly popular cars -- which are not expected to be available until at least the end of next year -- will turn out to be a smarter recruiting investment than funneling more money to headhunters. Though he sees the leases as rewards for good performance to help retain current workers, he's also hopeful the media coverage and word-of-mouth from employees will help him hire people with the skills he needs in what he calls an "esoteric field." "We're not sexy," he says."
When you think about a the brand experience of employment, some might argue that there is no more crucial point than the new hire (of course there are arguments for other points in the process too). You've won them over as a candidate, and as they always say, first impressions make all the difference. This sets the tone for the actual employment experience and a mis-step could impact the rest of the journey. Below are some points of view on the onboarding or orientation process. Enjoy!
1) What To Do During Your Employees’ First Week To Avoid Losing Them from Fast Company
"If a new employee is going to quit, chances are it will happen within the first six months. More than 40% of turnover happens within the first month, and another 10% or more leave before their first anniversary, according to a study by Equifax Workforce Solutions. That means it’s more important than ever to engage them from day one. "There is a direct correlation between effective onboarding and employee retention and engagement," says Susan Vitale, chief marketing officer for iCIMS, manufacturer of talent acquisition software. "Ninety-one percent of [first-year] employees are retained in companies that have a formal onboarding program, but of those who don’t, just 50% are retained." employee after the first year, it ends up costing you three times the employee’s annual salary to recruit, hire, and train someone else." Bad onboarding costs companies lots of money and job turnover, says Mark Newman, founder and CEO of recruiting software provider HireVue."
I spent the past few days as the emcee of the Employer Branding Strategies conference (#EBrandCon). As usual, a rapt audience taking copious notes. But what next? It's Friday, everyone's headed home and come Monday, we often fall back to our routine of execution.
I'm on a mission to make sure we don't default to employer brand execution. We need to execute. We need great content. We need to market. But we need
If you want to elevate yourself and your career, you need a strategy. Here's how.
In this week's Talent and HR News Weekly Update, we're showcasing the latest thinking to keep you up on the beat. Anything from engagement (will we ever see this go away? probably not) to mental health days. Happy Friday!
1) Stripe's Crazy New Hiring Experiment: Bring Your Own Team from Inc.
"From Google's wacky (and now out of favor) brain teaser interview questions to Zappos' unusual offer to pay recruits to quit if they didn't feel at home in their new job, startups and tech companies regularly pioneer new hiring practices that entrepreneurs in other industries might want to consider trying. Here's a new one for you, courtesy of the management at payment startup Stripe: how about hiring teams, rather than individuals?"
This week's Talent and HR News Weekly Roundup features the latest thinking on hiring. There are lots of different perspectives below - enjoy!
1) How to Streamline Your Hiring Process and Attract the best team from Betterteam
"Want to make sure your company grows and keeps growing? Hope to enjoy working with your colleagues instead of dreading it? Trying to save time sifting through applicants? Get the right hiring process in place, and all of this will come together. Get the wrong one in place, or march forward without one, and it’ll cost you. Literally, as in tens thousands of dollars or more. Rather than hoping that each hire will work out, or trying to turn bad hires into good ones, build a solid hiring process - a system that creates a continuous pipeline of great employees. An effective hiring process will help you hire at the right moment, get more qualified applicants and save time by screening out unqualified ones. It’ll help you get the best applicants hired and keep them longer."
Since there was a lot of good stuff on the interwebs this week, we're sharing the latest. No themes, no topics, just the latest in HR thinking. Happy weekend!
1) Employers set to increase career development program to retain talent from Employee Benefit Advisor
"Career development programs are poised for significant growth this year, as employers recognize alternative rewards as part of a benefits strategy to keep and retain employees. According to new research by Korn Ferry Hay Group, companies are prioritizing career development over other alternative rewards, benefits and bonuses for their employees. More than half of the 242 employer respondents polled by the consulting group said they intend to expand the use of career development programs across all employee levels. “Retention of key talent is a top-of-mind issue for organizations these days, given the lowest unemployment in several years and continued economic health of most industry sectors,” says Tom McMullen, rewards practice leader, Korn Ferry Hay Group."
It takes a lot of energy to be thoughtful, and I'm not being flippant here. It's quite hard. In life and in work. On the work side, there are SO many things to think about - your employees' salaries, health, career opportunities, legalities, happiness, well-beings, etc. These aren't things you just check off a list. You can be intentional and thoughtful about them, while aligning with your employer brand. In this week's Talent and HR News Weekly Update, we're showcasing some articles that highlight the thoughtful side of employers.
1) The Big Disconnect That Could Cost You Your Best Employees from Forbes
"The U.S. economy has continued to add jobs in 2016, driving unemploymentdown to 5%. Although this is good news for job seekers and working professionals, a low unemployment rate also creates challenges for businesses with respect to hiring and retaining employees. In contrast to the recession, when open positions were scarce and employers had their pick of job candidates, today the demand from businesses for talented employees is at an all-time high. This has created a candidate-driven job market where job seekers and working professionals have the upper hand on employers. Businesses are increasingly competing with each other for talent, and job seekers know it."
Over here at exaqueo, we love brand. Consumer brands are cool, sure. But for me personally? Employer brand has more meaning. Sure, there are products and services that are invaluable and that change your life. But (almost) everyone works, and you spend most of your time at work. Deciding where to work is a major life decision. The salary you land on, the experience you get, the connections you make...this mostly sets the trajectory for your professional life. So that brand experience is crucial. This week our Talent and HR News Weekly Roundup features the latest thinking on employer brand. Enjoy!
1) How to Use Employer Branding to Become a Talent Magnet from Beamery
"Recruiters at Google probably have a much easier time of it than you! It’s not because they’re necessarily any better at their job, it’s because Google’s employer brand is so strong. The company has become THE place to work for many great engineers. Everyone has heard of Google and the exciting projects that it’s working on, (self driving cars being perhaps the most famous.) Therefore, whenever a sourcer reaches out to a top candidate, they’re already predisposed to listen to whatever it is they have to say. This is the power of branding! You may not have the resources or reputation of Google, but that doesn’t mean that you can’t build an awesome brand."
This week's Talent and HR News Weekly Roundup includes topics on workplace wellness (and we threw a fun one in there for you - see if you can spot it). Thanks for reading and have a great weekend folks!
1) Is sleep the next frontier of workplace wellness? from Employee Benefit News
"New numbers from staffing firm Accountemps peg the severity of the epidemic, reporting that 74% of U.S. workers say they work while tired, with nearly one-third (31%) saying they do so very often. The costs of working tired are high for both employers and employees. More than 1,000 employees surveyed by Accountemps cited lack of focus or being easily distracted (52%), procrastinating more (47%), being grumpy (38%) and making more mistakes (29%) among the consequences. What’s worse, if employers don’t take action, lack of sleep can lead to bigger problems in the workplace — such as burnout, turnover and a negative corporate culture, along with lost sales and productivity, explains Bill Driscoll, district president of Accountemps."
Let’s get one thing straight. The Fortune Best Companies list is not JUST about the list. Landing on the list is the cake topper. The real cake is knowing your employees in a dynamic carousel of recruiting, retention and productivity. With the Fortune Best Companies list, employees’ views on a survey drive two-thirds of the score. The other third is your company’s responses to a questionnaire.
Even with consultants, a company can only influence so much. And survey results could change recruiting efforts, shift retention programs, flag productivity issues, highlight needed development areas, stall future employer branding efforts or underline priorities that only management can tackle.
There were a lot of different topics covered in this week's news review, so we didn't want to limit this week's Talent and HR News Weekly Roundup. This week we're featuring what's trending. Enjoy!
1) Play This Game and Win a Job! from The Wall Street Journal
"Last fall, Barclays PLC began testing a new tool for attracting young job applicants: a mobile videogame. More than 4,500 mostly college seniors have played the Barclays-branded version of Stockfuse, a free stock-trading game that uses real-time market data. About 8% have applied for positions at the international bank, and so far 17 have landed jobs. Stockfuse, developed by SHFuse Inc., a New York-based startup, is just one of a new breed of apps that invite people to play games that also serve as real-world recruiting tools. Such apps aim to shed light on how a candidate might perform in a job based on how he or she performs in a game. With Stockfuse, for example, what stocks a player invests in and the returns achieved typically provide plenty of data for consideration. Games from other developers range from solving mazes to managing a simulated sushi restaurant."
There is so much in the media about Gen Y/Millennials that we often forget about Gen X. They are a bit overlooked when discussing work behaviors because they are so overshadowed by other generations. But there's more to Gen X than meets the eye, so this week we're featuring this under-the-radar generation.
1) ...But What About Gen X Workers? from HRE Daily
"What will we do as the baby boomers retire en masse, and take their decades of knowledge and experience with them? And these millennials, who many projections say will soon make up nearly three-quarters of the U.S. workforce—how do we harness their considerable abilities and put them to the best use within our organization? Organizations everywhere have wrestled with the questions and challenges surrounding these unique groups of workers in recent years. But there’s another, large group of employees in the middle that may not receive as much attention. Some new research, however, suggests that employers would be wise to focus more on Generation X and the many assets this dedicated cohort can bring to the workplace."
Every year, the top 100 companies are honored on FORTUNE’s “100 Best Companies to Work For” list. The accolade is meant to be a measure of pride, trust and camaraderie among employees. Most of the 400+ companies applying just want to land on the list. Some HR leaders I’ve met use the assessment solely as a means to measure and improve their employee engagement. Some use the assessment to offer enough third-party data to C-level executives to incite an overall culture shiftBut it’s the top 100 we’re talking about online and in the news. These are the companies with 92-98% of employees saying “My company is a great place to work.” In 2010 and 2011 my company, SAS, achieved the greatest feat of all: we ranked #1. So what happens when you get there?
Everyone has their thoughts on leadership. After all, there's a lot to be said. In this week's Talent and HR News Weekly Update, we're featuring the most recent articles covering this complex topic. Happy Friday!
1) Leadership - The Complete Guide from Officevibe
"A leader is someone who establishes a clear vision, and then guides their team towards that vision by empowering them and coaching them to greatness. A leader is someone that stays calm during a crisis, and stays laser-focused on their end goal. The skills that it takes to be a good leader is great communication, respect, passion, quick on their feet, and coach. Leadership is something that is continuously developed over time, through mentoring and staying curious. The best leaders are always learning and are hungry to be the best they can be for their employees. They realize that they have many people relying on them, and they need to be there for them."
Talia Jane’s recent posting, along with all of the commentary in response, reinforces how amazing and complicated people really are. We all have stories and we are all misunderstood. And many of us have pitch-perfect insight into the hearts and minds of others – or so we think.
The truth is that few among us have deep expertise in knowing others’ feelings and experiences. Most of us are actually very easily fooled by the weakness of our presumed expertise. Decades of research in psychology shows that almost everyone is subject to all kinds of errors and biases in explaining behavior – that of others, and that of ourselves.
As her employer, it should make you wonder if you’ve failed to understand something important about those you employ and on whom you depend to run your business. Is it possible that you don’t really understand and know the people who work for you? And can your poor understanding be hurting your business? The answer to both questions is almost surely, yes. The good news is that we can understand a lot about the people who work for us – and those who might want to work for us – by doing research.
In this week's Talent and HR News Weekly Roundup, we're featuring some of the latest thinking around interviewing and hiring. A lot to consider below, considering these are two crucial points in the candidate experience. Enjoy and have a great weekend!
1) Ask These 24 Interview Questions to Find a Marketing Rock Star from Entrepreneur
"When it’s time to expand your startup’s growing team, you can’t go wrong with hiring a marketing strategist. Sure, accountants, customer service reps and other specialists are all important, but it’s your marketing team that puts money directly back into your pocket. But, of course, you don’t want just any marketer. You want a true rock star -- somebody who’s going to move the needle for your business. Why is this important? Let’s look at the Creative Group’s most recent salary guide, which reports an average salary for content strategists of $72,500 to $100,000 per year. Now, let’s add benefits to that. Joe Hadzima of the MIT Sloan School of Management puts these at an average of 25 to 40 percent of an employee’s base salary. Even if you hire on the bottom end of the pay scale for this position and offer minimal benefits, you’re still looking at total costs of $90,625 a year."
It's been a little while since we highlighted company culture in our Talent and HR News Weekly Update. There was a lot of news around this topic this week so we included a little more reading than usual. It's the middle of February with not much going on, so we thought you'd probably have the time to indulge! Have a great Friday!
1) A 7-step plan for improving your company’s workplace culture from HR Morning
Workplace culture can be similar to the weather — everybody talks about it, but who actually does anything to change it? Guest poster Sandeep Kumar offers seven steps employers can take to improve their day-to-day working environments. Most of us spend too much time at work. When you account for the commuting to and from the office; the time spent at night and on weekends preparing reports, presentations, and other work-related projects; and even the time we spend thinking and worrying about work, it’s fair to say that we spend most of our time working.
This week there were a bunch of "lists" online that related to the HR world, so we thought we would compile and post it up here on our blog. Happy reading!
1) Top 75+ HR Blogs to Follow in 2016 from Proven.
"Often misunderstood as meddlers or politically correct curmudgeons (see poor Toby from The Office), HR professionals are an essential part of a business. HR professionals work tirelessly to make sure that companies uphold their policies correctly and justly. Despite having been around so long, the HR sector is constantly evolving. While technology advances and policies change, HR professionals need to constantly be on the top of it all. We gathered these top 75+ blogs that feature the most informative, knowledgeable and experience-driven advice. Best of all, there is something in here for everyone. Some of these blogs are informative and straightforward, some are tongue-in-cheek and some are downright hilarious."
For this week's Talent and HR News Weekly Roundup, we're sharing the latest in workforce news since there have been quite a few recent mentions of the topic in the news. Enjoy and happy Friday!
1) Yahoo to lay off 15% of workforce amid $400M cost-cutting from USA Today
"Struggling search engine company Yahoo Inc. said it plans to cut about 15% of its workforce as part of a $400 million cost-cutting effort intended to "simplify" the troubled Internet company. Sunnyvale, Calif.-based Yahoo plans to lay off about 1,500 employees and close five offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan — with the bulk of cuts by the end of March, Yahoo said Tuesday. By the end of 2016, the online and mobile advertising company expects to have about 9,000 employees and fewer than 1,000 contractors, down from closer to 12,000 last year."
exaqueo is thrilled to welcome Steve Breckler, Ph.D. to the exaqueo team. Steve will lead our growing research function, building on our groundbreaking research work for clients in employer brand and talent acquisition. He'll develop bespoke research approaches for clients to ensure the employer brand and talent acquisition strategies we develop drive results.
Steve brings over three decades of experience in behavioral research and statistical consultation. He built his research expertise and scientific reputation as a professor at Johns Hopkins University. He expanded his knowledge of psychology and social behavior as a program director at the U.S. National Science Foundation. And he refined his management skills as an Executive Director at the American Psychological Association (APA). Among Steve’s accomplishments at APA was the creation of a new Center for Workforce Studies.