Perks Attract Employees - They Don't Keep ThemWe have moved into a new era of employee benefits. While traditional employee benefits such as healthcare, PTO, and retirement matching are expected, perks like on-site free food, gyms, and massages are becoming increasingly attractive to job seekers. It’s typical of emerging startups to use these perks to entice competitive talent to join their organization, with companies like Google offering an entire campus of free cafés, haircuts, and other extravagances. But while these perks seem to be appealing to fresh young talent, are they actually proving a real return on investment? Read More: HR Insights: Vol 3, Issue 10
The First Steps in Tackling the Year of the FLSAA good friend recently commented that this is the year of the Fair Labor Standards Act (FLSA), and I couldn't agree more. By now, you’ve certainly read countless articles and blog posts discussing the recently proposed rulemaking that will more than double the minimum salary required for a worker to be classified as “exempt” under FLSA. Under the proposed rule, an employee will need to earn a minimum of $970 per week (or $50,440 per year) and meet the duties test in order to be exempt from overtime wages, increasing from $455 per week ($23,660 per year). The implications of the proposed rulemaking are fairly clear, but the real question is: what can and should you do going forward? Read More: HR Insights: Vol 3, Issue 9
People Really Are Your Most Important Asset
If it looks like an asset and sounds like an asset, then it must be an asset, right? Well, if you’re an accountant, then the answer is probably a resounding “yes.” From an accounting standpoint, an asset is an economic resource that can be owned or controlled to produce value that can ultimately be converted into cash. For example, even a piece of equipment that is not owned but rather leased from its owner must be recorded as an asset in many circumstances.Read More: HR Insights: Vol 3, Issue 8
Onboarding With a Plan
Did you know that...
• turnover averages about 17% per month for the first three months (including as much as 16% in the first week)?
• 81% of those who leave are entry level / intermediate level;
• 46% of new employees washout in the first 18 months; and
• 45% felt over $10,000 is wasted on ineffective onboarding.
BambooHR found these statistics in a study regarding onboarding in 2014. The typical cost of turnover is no less than 50% of the annual salary of the employee but often well over 150%. This makes onboarding pretty significant for all businesses. Often we are tormented with short-cutting onboarding because we reason, “I’m busy.” Cutting corners only hurts you, the business, and the new employee.
The reasons for early turnover are very different than someone that’s been on the job a whileRead More: HR Insights: Vol 3, Issue 7
What Come First: Employee Engagement or Great Work
If you’re managing a team, you might wonder what comes first: engaged and personally invested employees or productive, great work? Is an employee doing great work because they’re engaged? Or will the employee become more engaged after doing great work?
Let’s start at the beginning. Most employees will start any position engaged and ready to work. As time goes on, either the employee will stay engaged, re-engage at a deeper level, or pull away to do minimal (or less than) work. What happens at the moment of re-engagement? What’s the difference between an employee who produces great work and one who doesn’t?Read More: HR Insights: Vol 3, Issue 6
6 Essential Elements of a Killer Career Page
With national unemployment at its lowest level in six years and employee confidence at a new high, now is the time for employers to get serious about how they're appealing to job seekers–particularly through the career page. Beyond just a list of open positions, a career page is an opportunity to highlight your company's people and culture as well as what sets it apart from other businesses. With that being said, here are six essential elements of a killer company career page:Read More: HR Insights: Vol 3, Issue 5
13 Communication Practices of Exceptional Leaders
Great leaders are great communicators. They share their vision in a way that inspires others and projects a contagious enthusiasm. But this ability doesn't always come naturally. We've all experienced the pep talk that falls flat: the gung ho "take one for the team" speech that triggers sarcasm instead of motivation.
So how do some people stimulate belief, loyalty, and a commitment that defies logic, while others are dismissed and disrespected? With deliberate intent and lots of practice.
Exceptional leaders connect and communicate at a level that few others achieve by consistently following these 13 communication habits.Read More: HR Insights: Vol 3, Issue 4
Work-Life Balance is Good for Business!
We often think of work-life balance as something that we can give employees by offering more flexible work schedules, or a holistic benefits package. Instinctively, it seems like giving employees time to manage their lives should help them achieve this elusive balance–which so many experts tell us we need.
But is that enough?
Flexible work schedules and an eye for work-life balance are good for business. A study last June by the White House Council of economic advisors showed a "significant positive relationship between work-life balance practices and total factor productivity" and recommended that "wider adoption of such policies and practices may well benefit more firms and workers, and the U.S. economy as a whole."Read More: HR Insights: Vol 3, Issue 3
7 Signs It's Time to Optimize Your Recruiting Function
Recruiting is a totally different function than it was just 10 years ago. The traditional role of the recruiter has expanded and evolved so drastically it can feel nearly impossible to keep up. Latest tools, best practices, and an ever-growing list of new job requirements for talent acquisition specialists requires a constant need to evaluate, assess, and optimize the recruiting process. Let's do a quick audit of the common signs of a broken recruiting function.Read More: HR Insights: Vol 3, Issue 2