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."
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."
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."
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."
There was a time when letters were the only way to communicate, then phones came into the picture, then email. At each of those stages, we never imagined how different work, or life for that matter, could be. So what can we look forward to in terms of the way we work, recruit, and operate in HR? Here are some things people are seeing in their crystal balls. Enjoy this week's Talent and HR News Weekly Roundup, focusing on the future.
1) Netflix’s Former Top Recruiter on the Workplace of the Future from Wall Street Journal
"Right now, thanks to social media, we have a connection with customers that we’ve never had before—instant feedback on how a company is doing. As a result, you’re going to see a tighter connection between what people do and who they serve. We’re not going to have silo departments within a company that operate on their own and never see the outside world. And we need to educate our employees accordingly by teaching them how the entire business works and how they fit into the machine. I’d rather have employees spend one hour learning how a company makes its money than sit through a yearlong course on conflict management. Knowing how a business works will help employees understand why decisions are made, and that goes a long way toward improving performance. Corporate jargon does nothing but slow us down, and it’s the exact opposite of the transparency and openness we’re going to see more of in the future."
In honor of one of the US's biggest holidays - Thanksgiving - this week we're featuring pieces about showing gratitude and appreciation to your employees and at work. And don't forget to be thankful for your own employer too! Happy Thanksgiving and happy weekend!
1) 5 Unique Ways to Show Thanks to Your Employees from Inc.
"The most important ingredient for a perfect Thanksgiving is gratitude. Show your employees you care with these gestures. Most of the ingredients for the perfect Thanksgiving are easily attained, but many people struggle with (or forget) the "thanks" part. Silly, since that's what Thanksgiving is really about. Yet expressing gratitude does not come easily for everyone. I find that entrepreneurs easily neglect to offer adequate thanks to their employees. Sure, they are paid for doing their job, but that doesn't eliminate their need for recognition, thanks, and praise. Turn over a new leaf this year by devoting time to thinking about the special gifts and qualities each of your employees brings to your business. Then take the next big step: Show your gratitude in a meaningful way. Your thoughtfulness will go a long way. Employees who feel appreciated will reward you with their loyalty and more."
In honor of Veteran's Day in the US, we're focusing this week's Talent and HR News Weekly Update on veterans and jobs. Here are some recent articles about the two topics as they relate to each other. And don't miss Susan's post on our own blog this week about veterans. Happy weekend!
1) Obama’s Veterans Day message focuses on jobs from Washington Post
"President Obama focused his Veterans Day remarks on the growing ranks of former troops who have served in Iraq and Afghanistan and are now searching for new ways to serve their country at home. “We’re in the midst of a new wave of American veterans,” said Obama, referring to a generation of men and women who have weathered the longest stretch of war in U.S. history. Those veterans have struggled in recent years to get care from an overwhelmed Department of Veterans Affairs. They’ve faced a higher unemployment rate than their civilian peers and an increase in suicides."
Compensation and wages have been in the news lately, with wage growth in the US picking up as of late. Below are some interesting articles focused on this area of HR - and it's not just salary we're talking about here. Enjoy!
1) Forget Raises. Employers Lean on Health Benefits to Retain Workers from Bloomberg
"Wages are still stagnant, yet employers have found something else to help attract and retain employees: health-care benefits. A good insurance plan has become a more vital tool than ever for hiring, according to a recent survey from the Society of Human Resources. In general, the study found, companies are leaning on benefits to woo current and potential employees. Of the 460 human resources professionals in the survey, 33 percent said that in the last year their organizations used benefits of some kind—ranging from paid leave to wellness programs—to keep employees at all levels from leaving the company. That marks a surge from just 18 percent who relied on benefits to retain staff in 2012."
In honor of yesterday's post about culture, this week's Talent and HR News Weekly Roundup focuses on company culture and some the latest news around this ever so popular topic. Enjoy!
1) 3 Ways to Create the Company Culture You Want from Entrepreneur
"Successful businesses have learned to look beyond skills to whether prospective employees mesh with their company culture from the start. As the founder and CEO of KeepSafe, a San Francisco startup with a cloud-based app for storing personal digital files, Zouhair Belkoura is well aware of how difficult it can be for a fledgling venture to attract and retain talent. Which is why he instituted a “test drive” policy for new hires, leaving the door open for them to simply walk away from their new position within a few days, no hard feelings. Most new hires decide to stick around, but not all. “We just lost two really solid candidates this way,” he says."
In this week's Talent and HR News Weekly Update, we're putting the spotlight on hiring. It's a critical point for any individual and company. There's always the question on both sides if this is the right decision. The timely articles below provide different perspectives when it comes to hiring. Enjoy!
1) The Simple Formula For Hiring And Retaining Top Performers from Inc
Want to attract the best talent and keep them? There’s a simple formula to follow, and it’s not about the money. Perfect Candidate = Ideal Cultural Fit + Proven Ability To Do The Job. There are only three reasons why any hiring manager will hire someone: 1. Best Cultural Fit, 2. Proven Ability, 3. Need For The Role. What Is Your Culture? When you hire for culture first, you’re ensuring that the person you choose will fit in with your existing team. Culture is your unwritten rules, your philosophies, your methods, your beliefs, your way of doing things, even down to your mannerisms and how you dress. When the rock band AC/DC needed a new singer, they didn’t choose a female ballad singer, they chose a hard-rocking, leather-wearing man who fit their style, image and energy. When you’re hiring, whether you are aware of it or not, you’re doing the same thing."
he wage wars are heating up this summer. We've talked about companies taking the initiative and raising the minimum they pay their employees, and now the government is taking action too this week. Other employment news to highlight covers women in the workforce, your boss, and one technology company's plans to cut its workforce. Check it all out in this week's Talent and HR News Weekly Roundup!
1) New York Panel Approves $15 Fast-Food Wage from The Wall Street Journal
"Board recommends $15 minimum wage for fast-food workers in NYC by 2018 for establishments that are part of chains with more than 30 locations nationwide. New York state’s fast-food wage board on Wednesday recommended raising the minimum wage for that industry to $15 an hour by 2018 in New York City and by 2021 elsewhere in the state. The move gives Gov. Andrew Cuomo a political gain with labor unions and liberal Democrats who have pushed for higher wages for low-income workers, even as it prompted an immediate backlash from businesses that say higher costs will lead to job losses."
There are many companies out there challenging the 9-5 mentality and offering different approaches and options for the way its workforce works. Some work environments don't allow for much flexibility, as there are jobs where you must physically be present, such as a shift at a restaurant or a security guard. Where it is possible though, companies are experimenting with what works for their companies and workforce. Here are some recent trends in alternative and flexible work arrangements, that someday may shift from being "alternative" to being the "norm."
1) Leaders Catching on to Four-day Workweeks from Human Capital Online
"For an increasing amount of companies, four-day work weeks have become standard practice – particularly during the summer months – but is a compressed schedule something you should consider? These advocates think so. “Better work gets done in four days than in five,” says Basecamp CEO Jason Fried. “When there’s less time to work, you waste less time.” The software company shifts to a 32-hour work week from May through to October – giving employees the chance to spend long weekends with their families without taking time off."
The performance review. Most people dread them. Some people look forward to them. The intent of performance reviews is worthwhile. It's an opportunity to provide feedback to employees and discuss areas of growth. Sometimes though, employees and managers just go through the motions making performance reviews a pain in the neck rather than a meaningful discussion. We're half-way through the year, which is a time when employees and managers usually "check-in" with each other, so for this week's Talent and HR News Weekly Roundup, we're sharing the latest thinking around performance reviews.
1) Employee Performance Review: Productive or Destructive? from Findmyshift
"Why do employees overwhelmingly dread their annual performance review with the boss? Quite often, this discussion is tied to the decision of whether an employee will receive a pay raise. What's more, many of the points a manager makes about an employee can feel personal, even subjective, and not reflective of his or her true performance over a year's time. It's up to managers to make the dialogue in the annual performance review as employee-friendly as possible, even though the odds are already stacked against both manager and employee. A different kind of process altogether can benefit employees and empower managers to feel more successful in appraising employee performance."
It's official. Millennials have taken over the workforce. According to Pew Research Center analysis, millennials are now the largest generation in the workforce. It was inevitable that this would happen, it was just a question of when and that time has come. To help you brush up on the latest millennial news, this week's Talent and HR News Weekly Roundup is putting the spotlight on millennials.
1) Organizations Concerned About Leadership Programs For Millennials from Forbes
"Organizations worldwide have pinpointed a lack of capability when it comes to providing leadership programs for the millennial generation, according to Deloitte’s 2015 Global Human Capital Trends report. The ability to develop leadership programs for millennials is cited as an area of weakness by 60% of HR and business leaders worldwide across all industries, according to a study of 3,300 business and HR leaders from 106 countries. The millennial generation has become an area of focus for organizations, said Tim Clayton-Ball, human capital partner at Deloitte."
In the last of our "Best of" series, we're focusing on retention. Take a look at the best from our Talent and HR News Weekly Roundups in 2014 that cover anything having to do with retaining your employees. We'll be back next week with fresh news roundups for 2015!
1) Engage and retain staff in 2014 and beyond from HR Zone
"It’s a common misconception that an individual’s performance at work is based solely on just their capability. Whilst possessing the right skills and abilities is important, in today’s competitive business world, it is based on so much more than this. The silent threat of ghost turnover - The period of economic recession played host to a stagnating pool of talent. Suffering from uncompetitive reward and constrained training and development budgets, staff stayed in their current roles, not because of job satisfaction but because of job security. This is known as ‘ghost turnover’ – employees who want to leave their current jobs but can’t due to a lack of alternative or secure opportunities."
We talk a lot about culture at exaqueo and the benefits to the bottom line of a business. It's so foundational to every aspect of a company. This week's Talent and HR News Weekly Roundup features the "Best of Culture" articles from throughout the past year. Enjoy!
1) sing Your Culture to Attract Top Talent from Forbes
"Drab offices, deafening silence, draconian rules — these are the trademarks of stifling workplaces. And if your aspirational employees are working in this kind of environment, believe me, they won’t stay long. We all know that finding valuable employees is a hefty time investment, but leaders should spend just as much time building the culture that keeps them. Unfortunately, that’s seldom the case, and the repercussions can be far-reaching. To get some additional insight on this critical topic, I reached out to Fred Virgin, former SVP of HR at GE, and Carolyn D’Anna, Co-Chief Human Resources Officer at CohnReznick, for their opinions on how company culture can be your greatest selling point or biggest hindrance."
As part of our "Best of" series, this week we're taking a look back at anything with a focus on employees. From engagement to motivation, take a look at the highlights from 2014:
1) No Managers Required: How Zappos Ditched the Old Corporate Structure for Something New from Fast Company
"No more job titles. No more managers. No more hierarchical decisions. By this time next year, Zappos’s 1,500 workers will be organized into something called a holacracy. Holacracy is a little known organizational management system that’s is gaining a toehold in the business world. Zappos, so far, is its biggest adopter. Holacracy takes its name from the Greek word holos, a single, autonomous, self-sufficient unit, that is, at the same time, dependent on a larger unit. Think of a human cell’s relationship to the entire body."
This week we're taking a look back at "Best of HR Technology" from our Talent and HR News Weekly Roundups in 2014. Take a look below to see some highlights in this area from the past year:
1) The 5 Factors of Social-Media Marketing Most People Don't Consider from Entrepreneur
"This has long been a question brands have tried to definitely answer. It has been brought to the fore of late by a recent Gallup poll, the report from which states, "A clear majority of Americans say social media have no effect at all on their purchasing decisions." That may make it sound like social media marketing has little benefit, but the report's cursory dismissal doesn't take into account several other factors."