Employees Spill The Beans On What They Really Want From Their Employers

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StrategyDriven Talent Management Article |What employees want|Employees Spill The Beans On What They Really Want From Their EmployersIf you think employees just want a paycheck at the end of the month, you’re sadly mistaken. Fortunately, (or unfortunately, depending on your perspective), they need a lot more than that.

In the past, business culture was very different. Companies pretty much told their employees what to do, and they got on with it, without really asking any serious questions. But with falling unemployment and changing expectations, that’s all gone out the window. Now firms have to give their employees many reasons to stay. Otherwise, they’ll look for opportunities elsewhere.

You can listen to consultants all day long, telling you what you should do to reduce employee turnover. But the easiest way to encourage people to stay is to ask them yourself.

When you do, here’s what they say:

Opportunities For Progression

Money today is great. But employees also want the promise of more money in the future. Often, this idea is more compelling than receiving a bonus in the here and now. People want to feel like their lives are going somewhere. They don’t want to get stuck on an eternal treadmill, doing the same things every day, without end. They need a sense that they’re progressing. They want recognition in their communities.

If you want to keep employees, therefore, you should create an explicit schedule for their careers. Make it clear what you expect from them and then make opportunities available once they gain sufficient experience and expertise.

Recognition For Their Work

Some people work for money and nothing else. But a lot of people feel like they’re part of a large social enterprise and expect recognition from their superiors. For them, work isn’t just a means of making money or achieving goals. It’s also about getting some much-needed affirmation.

If you’re a natural boss, you may struggle to see the importance of this. They already get paid, so why do they also need parenting? It seems weird. Sometimes, though, you have to ignore your instinct and spend a bit of time telling your employees you appreciate them. It’s the equivalent of the teacher giving the student a gold star.

StrategyDriven Talent Management Article |What employees want|Employees Spill The Beans On What They Really Want From Their EmployersShow Them You Appreciate Them

Paychecks are great. But ultimately, they lose their appeal. Sometimes, they can become a source of resentment. Employees often come to believe that you’re giving them too little for the work they do.

Corporate gifts for employees, however, can sweeten the deal somewhat. With these, you can show your appreciation without having to go through the rigmarole of a salary renegotiation. For workers, it feels like Christmas.

Offer Flexible Hours

If there’s one thing that workers want more than anything, it is freedom over how they use their time. Not everyone wants to be in the office on weekdays. Some people find it more convenient to come in on the weekend and get their work done then.

Create a system that allows people to work flexibly, where possible. You could allocate a certain number of flexi-hours per week if you need colleagues to be in the office together at certain times.

3 not-so-obvious reasons to use employee scheduling software in your small business

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StrategyDriven Talent Management Article | Employee Turnover | ScheduleMakes a bigger dent than you might think

Turnover rates in the restaurant industry are among the highest in any industry. In 2017 the employee turnover rate in the US restaurant industry edged over 70%. The estimated turnover rate for front-line staff like servers and waiters came in even worse at 110%.

The Center for Hospitality Research at Cornell University estimated the average cost to a restaurant of a turned-over employee is $5864. This works out to employee turnover costing an average full-service restaurant $146,000 every year. In a low margin business like a restaurant this can’t afford to go unchecked.

The cost of employee turnover goes beyond the recruiting, hiring and training of a replacement. This accounts for around 50% of the total cost. The balance is made up of a host of hidden costs that accompany employee turnover that don’t necessarily show up on the balance sheet.

Let’s delve into these hidden costs and what restaurant can do to mitigate them.

Loss of Institutional Knowledge

There’s a famous saying “it takes a village to raise a child,” and this same idea applies to business.

Every time you lose an employee whether it be a waitress, server or cook, you lose important knowledge regardless of whether that employee was working for your business for a year or ten years. When an employee leaves, they take the history and knowledge they accumulated at your company with them as well.

To make matters worse, you need to pay to re-train the replacement employee, and sometimes you can’t teach all the knowledge that was lost. Although it’s difficult to measure the cost of knowledge, you can be assured that time and energy will definitely be wasted with every employee turnover.

Demoralized Staff

It should go without saying that employee turnover strikes at the heart of the morale of your entire workforce.

When an employee leaves, other employees must pick up the slack to account for this void while you search for a replacement. This creates for some unhappy people. Employees can begin to feel resentful if they are taking on more responsibilities with no pay raise or benefits. They might even start considering leaving themselves.

Thus, losing one employee could easily turn into losing a few more throughout the year. It can lead to something like a domino effect where your productivity declines long after the initial employee leaves.

The health of a company is closely tied to the employee turnover rate — so stay keen on keeping your employee morale high if turnovers ever do occur.

Distracted Management

Your assistant manager and shift manager will have to dedicate a good portion of their time to replacing lost employees. These new responsibilities could easily come at the expense of other crucial functions in your company.

Effectively, you will be paying your employees top-dollar salaries for recruiting employees when they could instead be focusing on actual business strategies and expansion. Your business suffers as its primary responsibilities are stalled while your management searches for an employee replacement.

A business usually relies on its best people to recruit new employees. However, with them now busy finding and training new employees, your entire business suffers. The ones with the best business practices and the most know-how in management will distracted looking for an employee replacement. This is always a net drain on your business.

Loss of Credibility

In an environment of excessive employee turnover, management can easily get hit with a serious loss to their credibility.

For example, if any media begins to report on losses to your employee staff, then it could easily cause a snowball effect. Bad publicity over employee turnover and management could easily cause a downward spiral you would be smart to avoid.

A loss of credibility could affect public perceptions of your business, but this could also trickle into a real decline in sales.

For example, if a lost employee affects customer satisfaction, you can begin to see serious consequences: the company will begin to lose its most important customers. With high turnovers, customers could easily get frustrated and begin to turn away from your business.

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It should be clear now that there are plenty of hidden costs associated with employee turnover, which begs the question: What can you do to stop it?

Create an Inviting and Fulfilling Work Environment

You can lessen demoralization of your staff when an employee leaves by demonstrating that they are a crucial part of your business. This begins with your work environment and how you conduct yourself as a business. Employees will be far less likely to follow suit and leave if they feel they are respected at work. By encouraging a community environment for your staff where they feel welcome, you can retain employees and keep them loyal. Of course, how you choose to go about creating a fulfilling work environment is dependent on the ins and outs of your company. There is no one-size-fits-all solution.

Ask yourself: Would I want to work in this environment as an employee myself? Put yourself in the shoes of your staff and work from there. Make them feel appreciated and let them know they are important to the workings of your business.

Stay Up-to-Date on Compensation and Benefits

A business that stalls on compensating its workers is a recipe for disaster, even if it happens just once. If employees cannot be certain they’ll be paid on time, they’re more likely going to head to the door if such negligence continues.

An efficient business strategy, however, is one that keeps track of how employees are developing and their rising worth, paying them accordingly for better work. This keeps employees satisfied and makes them feel as though they are adding real value to the company (and being rewarded for it!).

Engage Your Employees

You should never siphon off your employees to one section of your business and only interact with them when discussing compensation. Don’t ever limit your employee engagement to just surveys and pay: build a culture of engagement from the top of the company all the way to the bottom.

Everyone needs to be on the same page for a business to be its most successful. If you engage with your employees beyond just what’s absolutely necessary, you’ll be more in tune with the work they’re producing — and your employees will be definitely be appreciative of it.

With these helpful words of advice, you can start limiting the chances of employee turnover and create a vibrant, productive work environment for your business. All of this begins with recognizing your employees as crucial to your business. So, try cultivating a work culture of generosity and gratitude in your own business: you’ll be surprised how far it goes in retaining a productive workforce.

Finding Talent In All The Right Places

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StrategyDriven Talent Management Article | Finding Talent In All The Right Places

A business is only as good as the people who run it. This can seem like a vast oversimplification, because systems, protocols and automated tasks can also help a business run. But sooner or later, even these will fail without maintenance from specialized personnel. Furthermore, not only does our business rely on the talent we hire, but the talent of other firms, too. You trust that your hired electricians will ensure the office lights stay on, and you trust that your accountant is adequately calculating your books.

Yet of course, we can only exercise the talent decisions we have proper control over. So – where to start? This is a worthwhile question to ask, because it can both increase the talent we acquire as well as helping you find further avenues in making that a possibility.

So – where do we begin here? After all, why some personnel may last longer within your firm and some may only be here for a short duration, ensuring competence is rife throughout your firm can aid you in more ways than one.

Outsourcing

Outsourcing is an essential task when it comes to replenishing your talent for certain tasks. With Snupit you can find essential talent for certain jobs, in a temporary fashion. Furthermore, this can help you with remote working possibilities that create a sense of immediacy, which is essential in today’s intensive, quite opportunistic world. There’s also no hard and fast rule suggesting you cannot make full-time relationships with outsourced staff, allowing a business to path the holes of their talent shielding from now into the future. It all depends on your particular requirements, so be sure to stay honest about your needs.

Talent Acquisition

It can be worthwhile to head on recruitment drives from time to time, or to use headhunting services to ensure high-level executives are interested in your more prominent positions. Talent acquisition practices and services like this will help you avoid wading through resumes that have little value for the complexities of your job, and will give you the means to stay direct in your approach. However, talent acquisition programs can also mean giving someone a chance, such as working with local prisons to ensure their work outreach programmes bring some good to society.

University Visitations

Of course, finding a talented individual you can mold as one of your employees can be a great pursuit, because they’re unlikely to hold the bad habits other seasoned professionals can struggle with, or may find hard to adapt alongside your particular method of working. University visitations can be a worthwhile place to start as far as this is concerned, as recent graduates are all-too-happy to gain offers of employment, while you are gaining someone fresh and inquisitive and motivated to better themselves. Who knows? With an attractive package, they may stay at your firm for decades.

With this advice, we hope you can more easily find talent in all the right places.

Workers’ Compensation

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StrategyDriven Talent Management Article | Workers’ CompensationWorkers’ compensation is a type of insurance companies purchase to pay for injuries or illnesses their employees get on the job. This insurance pays or lost wages and medical treatment as well as vocational training, survivors’ benefits and compensation if the employee cannot return to work. Employees should understand workers’ compensation coverage and the compensation claim process, such as injury notification and medical evaluation requirements. In addition, employees should understand their legal rights and the company’s compensation policies and processes.

Coverage

A company’s obligation to purchase this insurance is based on state regulations and may include a minimum number of employees and industry types. In addition, domestic and seasonal workers and independent contractors may not qualify for insurance payments. However, these individuals may have a legal claim if they are hurt on the job.

To be covered, an injury must occur on the job. For example, repetitive stress injuries and chemical exposures may cause job-related injuries and illnesses. Insurance companies may require that injured employees take drug and alcohol tests, and employers are not responsible for job-related injuries if the employee fails these tests, intentionally injures themselves or is found negligent.

Process

To start the claim process, injuries must be immediately reported to supervisors, human resources or a company representative in verbal and/or written formats. However, employees may choose not to make claims. The injuries are assessed to determine whether they need medical attention, and an emergency contact may be called in serious injury cases. The worksite should also be evaluated to ensure it is safe and clean to prevent additional accidents.

The employee may be interviewed by the company and insurance agent when the accident is investigated. The investigation report will include the date, location, circumstances and description of the injury as well as the reporting process and dates. The employer and insurance provider may have a deadline for reporting injuries.

All the medical and travel expenses should be submitted to the insurance company, and the insurance company may require that employees see a medical practitioner of their choice.

Employees may receive compensation for 66–100% of their weekly wages, but they may also need to use their personal and vacation leave. The Family Medical Leave Act may also provide guidance for employee leave benefits.

Employers will remain in contact with both the injured party and insurance company. Medical progress reports may also be submitted to the employer and insurance company. The medical team will determine when or if the employee may return to work.

Education

Employers are responsible for educating their employees on workers’ compensation laws and company policies when they start working for the company. They should discuss the employee’s legal rights, who to contact if an injury occurs and where to find the claim forms. They should also discuss the impact of preexisting conditions on compensation. Finally, all deadlines should be disclosed.

You should understand workers’ compensation coverage, the claims process, the company policy and your legal rights when you start working with a new company.

A Flexible Approach: Adaptable Working Hours are the Key to Employee Retention

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StrategyDriven Talent Management Article | A Flexible Approach: Adaptable Working Hours are the Key to Employee RetentionIt wasn’t too long ago that the 9-to-5 was the schedule that everyone adhered to just to bring home the bacon. But recently, studies have shown that this leads to a lot of burnout, as well as reduced employee retention.

More and more employers are looking to the flexible hours schedule in order to keep their employees happy. So how exactly does this work?

Flexibility Versus Fast-Paced Work Environments

More employees are looking for a work-life balance that also takes care of their mental health. The fast-paced work environment used to be the popular one, the work itself giving people a purpose to go into the office every day.

But that has changed; people aren’t seeing the benefit of working for money if they don’t have the time to enjoy it as well. The ability to work remotely has also made the flexible work environment a possibility, as people can log-in whenever they’re needed to get work done, meaning that they can schedule their other activities throughout the day while still meeting deadlines.

If you’d like to learn a little more about how easy it is to transition into a flexible work space, check out Businesstrex.

Benefits of Flexibility

Sick of having to rehire employees over and over again for the same position? Spending money on all that training tends to get quite expensive. Instead of constantly filling in the gap, you can retain employees at much higher rates by creating flexible schedules.

Employees will be much happier in the long run knowing that they have some power in the flow of their workday. And happy employees means that they’re less likely to look for work somewhere else.

Studies have also proven that when given the power over their schedules, employees are likely to be more productive in a single workday than working a 9-to-5.

Making the Transition

Many employers believe that they need a major overhaul of their structures in order to make the flexible workday a possibility, but it’s a lot easier than they think. They won’t have to buy as much furnishings for their offices, nor will they have to buy new computers, have operating systems installed, and security technology installed on every one. Flexibility allows for the employees to use their own computers, just as long as the proper security measures are also installed on these PCs.

No need to install huge servers either; the cloud is making it easy for everyone in the company to have access to the same information without having to pay for extra tech support to ensure that the servers are running smoothly.

More and more companies are already making this change anyway, so it would be beneficial to stay with the current trends than to get left behind in the dust.

Test the waters first by having a flexibility week in the workplace and see how it goes. Allow your employees to come into the office when it’s best for them, or let them work remotely from home. You may be surprised by the results you get from allowing your employees to work at their own pace.