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848b4d879f0ddc459cb416e9c958ea5c
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https://www.forbes.com/sites/forbesfinancecouncil/2020/12/03/due-diligence-tools-to-protect-from-painful-investment-outcomes/?sh=239885db559a
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Due Diligence Tools To Protect From Painful Investment Outcomes
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Due Diligence Tools To Protect From Painful Investment Outcomes
Partner of Eventus Advisory Group, LLC., helping companies meet their CFO, Finance and Accounting needs with fractional teams.
getty
Talk to any experienced venture capitalist or angel investor, and they will have at least one story about a company that had some nasty surprises for them post-investment. Your best and possibly only chance to see the innards of a company is during the due diligence process. While due diligence is an imperfect science, below are some hard-won practical tips.
Senior Management Diligence
Investors often spend a good amount of time assessing the senior team and its ability to execute. Don’t forget to assess the senior team’s attitude to investors and whether they view themselves as a fiduciary to their investors or just view you as a source of capital.
• Hidden comp: Make sure you understand all the compensation the executives are given. Cars and housing are the top two that happen and go under the guise of “company” expenses. Make sure you know about any of those, and ask for data about how they are used. Frankly, if they exist at all in an early stage company, it is more likely than not a waste of investor money.
• Related party transactions: Get a full report on all related party transactions, meaning any contract with a company that is connected to an executive or someone close to the executive (e.g., a sibling or a partner/spouse). There is a high chance these are “sweetheart” deals whose economics don’t stand up. Whether you allow this going forward is up to you.
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• Key person risk (inter-exec relationships): It’s pretty standard to understand who is “key” to the business’s success, but make sure you confirm how the key people are connected to each other. If one goes, will the others? Will each give their own opinion, or do they move in lockstep? If you have to make a personnel decision (fire) a key person, it’s helpful to know whether you will lose others in protest.
Sales Projections Diligence
Are those sales real? Can the company make its numbers? Are those projections too rosy? While experience and deep industry and sector knowledge are great sources of insight, you can take some practical steps in your investigation, as well.
• Prove out the sales metrics: Don’t trust the sales metrics given. Ask to see Salesforce (or whatever customer relationship management software they use) data, including the life cycles of all contracts for the past two years. Take the time to reconstruct what they reported for the past two years. Does it match their deck and claims?
• Investigate the large deals: Get signed contracts for larger deals. Make sure there are no “change of control issues,” meaning if someone takes over the company, is the contract null and void? Also, ask if you can talk to the largest customers to gauge satisfaction and renewability.
Triangulate All The Data
The answers you get and the ones you don’t all help create the tapestry of what you think the company is and where you think it can go. Odds are you’ll never get all the answers, so finding where things fit and don’t fit will help you fill in the gaps.
• Match the pitch deck to the data in the data room: Pitch decks are the best-case scenarios. Where you can, match up all claims of current and future performance to the data provided. Ask for proof and additional data where you find gaps.
• Triangulate the projections: Check all the presentations, and ensure that they tell the same story with the same metrics. Especially take the deck and the financial model and see whether they match up. Look through the deck and model and identify what operational steps are necessary to achieve the deck goals (revenue) and ensure the requisite expenses (e.g., people, tech investment, etc.) are reflected in the model. Also make sure you know the pushdown effect of a delayed investment or action. For instance, if you don’t get the key tech built out by X date, your sales could be affected.
• Human triangulation: Don’t forget to talk to the key people and a level below them. Compare the deck and model stories to what you find out in these interviews. Investigate any gaps you find.
Post-Transaction Commitments
Where possible, try to get a commitment that the projections in the pitch deck will become the goals of the senior management team, which should be tied to their compensation. Don’t be surprised if the first official budget you get after the investment is somehow much lower than the rosy projections in the deck. Compensation goals are one way to ensure compliance with what you were pitched.
Also, if you happen to get a board seat, have skip-level meetings at least twice a year with the CFO by herself (and other key leadership). If the founder/CEO won’t allow it, this tells you a lot.
Due diligence, by its nature, isn’t perfect. It’s also probably the only chance you’ll ever get to see what goes on in a company because once you have invested, even if you have a board seat, you may not get the insight you want. You hold the most leverage before you write your check. How management responds to your requests and questions is equally important as the answers themselves. If you get hand-waving and pushback, it’s a decent sign of what is to come once you invest.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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7337e474594479e73ac3fa43f7d39a14
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https://www.forbes.com/sites/forbesfinancecouncil/2020/12/10/banking-on-the-subscription-economy/?sh=5d2b5cfa3dbb
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Banking On The Subscription Economy
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Banking On The Subscription Economy
CEO at Kunai, a team of designers, developers and product managers who take ideas from napkin sketches to deployment at scale.
getty
By 2023, Gartner predicts that “75% of organizations selling direct to consumers will offer subscription services.” It’s easy to see why: Recurring revenue is a no-brainer. And banks and credit card providers are starting to pay attention.
In a subscription economy, traditional business models based on one-time payments give way to partial or full subscription models with recurring payments. This is more than just magazines and movie streaming; I’m talking everything from dog food to cosmetics, enterprise software to consulting, and even bank services.
It’s hard to resist the convenience of subscriptions. Not only do they provide products and services on a predictable schedule, but flat-rate subscriptions make budgeting easier. But while they may be an obvious choice for busy customers, they’re a challenge for debit and credit card providers.
Customer Relationships In A Subscription Economy
By creating built-in loyalty, subscriptions can make some businesses more competitive, so long as they can keep up with the accompanying rise in customer expectations. Tacking subscriptions onto a business model isn’t a set-it-and-forget-it fix. It’s a fundamental shift in the consumer relationship.
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As subscription software and technology providers help merchants successfully add subscriptions to their business model, once trusted brands of banks and credit card providers become less and less visible.
Boosting Loyalty Through Virtual Cards
Providers need to find ways to boost brand visibility and loyalty. Virtual cards are one way to do this as they offer solutions for consumers and businesses alike. In a subscription economy, they create advantages such as:
• Simpler business purchasing. According to Mastercard, 67% of companies are satisfied with credit cards to send business-to-business payments. The top reasons? Their ease and convenience, acceptance by most suppliers and cost-effectiveness.
• Fraud prevention. Virtual card tokens fight fraud by disguising a card holder’s information and expiring after use. In the case of virtual cards tied to a subscription, charges by any vendor other than the subscription provider are easily flagged, and the source of a data breach is easily identified if each subscription is assigned its own virtual card.
• Subscription management. Customers and businesses can easily track and settle subscriptions by assigning a unique virtual card to each one and setting spending limits and deadlines. If a virtual card needs to be canceled, it won’t affect other virtual cards on the account.
• More transaction details. Virtual cards and ACH are the two most common forms of vendor e-payments, according to Acom Solutions. However, ACH transactions are limited to 80 characters of remittance information. Virtual cards, on the other hand, have no character limit. Custom remittance information makes it possible to reduce or even eliminate manual reconciliation.
• Time-bound tokens. Virtual card tokens can expire after one use or after a set amount of time. A token that expires and regenerates monthly or quarterly prompts customers to reconfirm their subscription, creating another touch point for card providers and helping customers avoid paying for subscriptions they aren’t using.
• Customized rewards. With virtual cards, it’s possible to offer customized reward options based on one or a set of tokens. It’s also possible for businesses using virtual cards for accounts payable to generate monthly revenue through cash rebate programs.
Virtual cards offer one avenue for banks and card providers looking to stay competitive. But they aren’t the only option.
Banks Can Flip the Script
In The Financial Brand, editor Bill Streeter points out that consumers are “primed” for opening checking accounts with Amazon if accounts are bundled with services such as smartphone insurance or roadside assistance. While that may seem concerning for traditional banks, the same consumer preference could apply to a monthly banking fee if it, too, included a subscription to services such as Netflix.
Clearly, consumers want simple ways to bundle their expenses and subscription fees. They’ll do so with whoever makes it the easiest.
Challenger banks like Aion have already caught on. While this bank doesn’t offer smartphone insurance or Prime subscriptions, customers can subscribe to a service that searches for savings on loans, utility bills and online shopping.
Another example is N26, a German neobank that also recently introduced a subscription service. Its subscription option adds a slate of features to its freemium model, including “Shared Spaces,” which enables a person to save along with 10 other people.
With these offerings readily available to consumers, the tide of subscription banking is already rising. It likely won’t be long before businesses expect similar services from banks and card providers.
Subscription models enable a wide range of experimentation. Financial institutions can try perks that customers already expect, such as enhanced rewards, and then move into more cutting-edge services like the shared savings approach from N26. The key is clear differentiation: Customers should recognize a clear, engaging value proposition that deepens their relationship to the brand.
If You Can’t Beat ’Em ...
As consumers and businesses subscribe to their favorite products and services, the power of usage data and subscriber insights lies with the account provider. Rewards programs, virtual cards and financial service subscriptions all offer ways for banks and credit card issuers to hedge against eroding brand relationships and survive and thrive in the new subscription economy.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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9562efc42b81d318b1845710d582d07e
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https://www.forbes.com/sites/forbesfinancecouncil/2020/12/10/solving-cryptos-long-standing-fragmentation-problem/
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Solving Crypto's Long-Standing Fragmentation Problem
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Solving Crypto's Long-Standing Fragmentation Problem
CEO & Co-Founder of Orion Protocol: the singular, non-custodial gateway to the entire crypto market.
getty
The influx of capital into the crypto space has been significant in recent years, and yet mainstream adoption remains elusive. One impediment to this has been the fragmentation of the industry. Currently, there are thousands of tokens in the market, each spread across hundreds of exchanges with different user interfaces and processes. Even the most "user-friendly" exchanges can be daunting to newcomers.
Crypto is particularly siloed into centralized and decentralized entities, with the industry dominated by centralized exchanges (CEXs). As new users enter the industry, I've seen a clear demand for "intermediaries" that mirror the centralized financial entities consumers are used to, improved user experience and greater liquidity, but I've also seen the control and holding of users funds: sacrificing ownership for access. Ultimately, these entities act as stepping stones toward true decentralized finance (DeFi).
The crypto industry arose out of the desire for an alternative to monopolizing financial institutions — decentralization is what the industry is fundamentally built on. Yet traders are being forced to trust large centralized exchanges — entities that are prone to the very issues crypto is supposed to eliminate — with their assets in order to access the liquidity they need to trade, leaving them at risk. As KuCoin's recent $200 million hack has shown, the crypto adage "not your keys, not your coins" rings ever true, and was recently enshrined in a California court ruling.
Growing Demand For DeFi
Centralized exchanges understand that DeFi has gained ground, particularly given the popularity of yield farming, and that users appreciate their open finance initiatives and investment opportunities. Many DeFi platforms and protocols were built by small teams of creative ideologues, others by opportunists who saw the attraction of investment opportunities that were unavailable elsewhere.
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As we've seen from the huge growth in decentralized exchanges (DEXs) and liquidity pools, traders are drawn to DeFi and its promise of noncustodial asset ownership. However, despite DEX volume reaching $24 billion in September, up from $11.6 billion in August, it still accounts for just 14.99% of overall trading volume. DEXs still lack the liquidity, trading pairs, features and user experience that professional traders demand.
DEX aggregators have grown in popularity, but as they only pull from a handful of decentralized exchanges, they leave out a major source of liquidity. Meanwhile, the majority of them only carry ERC20 tokens, while multichain aggregators are often custodial. Token swapping protocols have become popular, yet many are illiquid and prone to high slippage — which can leave the token value at risk of unscrupulous manipulation.
Of course, we must remember that many DeFi players enter that world precisely because they prefer not to jump through know-your-customer (KYC) hoops. But while the industry is starting to see the tides change, DEXs have yet to steal significant volume from CEXs, with traders still sacrificing ownership for access. I believe it's this fragmentation of the industry, particularly the centralized/decentralized divide, that poses the biggest threat to mainstream crypto adoption.
Bridges Between Both Worlds
Accessing the crypto market shouldn't be difficult, risky or expensive, nor should fragmentation continue to discourage newcomers to the space. A successful decentralized financial system won't be measured by its ability to exist separately to centralized financial institutions, traditional or otherwise, but one that acts as an intermediary to bridge the gap between the centralized and decentralized worlds of crypto. Through these solutions we'll see decentralized technologies utilized through custody and final settlement, while pulling liquidity from those that monopolize much of the market: centralized entities.
Critical to the sustainability of the crypto industry will be through providing access to the benefits and opportunities across the market, but in a totally decentralized way. This is what my company is working on, providing a singular, noncustodial gateway to crypto, meaning traders can access the liquidity of the entire crypto market while retaining all important ownership of their assets (and information).
The demand for DeFi is something that centralized exchanges are gradually realizing, and we can see this manifested in the efforts they are making to work with DeFi protocols. A cynical view would be that centralized platforms are merely seeking to claim a piece of the DeFi pie, but perhaps they are just giving customers what they want. Either way, it's important for the industry not to compete, but complete; by aggregating the liquidity of every exchange in the market, the growth and development of any new or existing exchange will only further benefit the crypto landscape as a whole.
As centralized exchanges take up much of the liquidity, one of the biggest challenges could be the perceived risk of alienating key players in the market. However, I believe this stems from a lack of understanding of the reality that the aggregation of the entire market, in a decentralized way, is beneficial to centralized exchanges: providing another point of access to their liquidity to users who would be otherwise unwilling to use a centralized exchange.
DeFi projects will need to realize that the path toward true decentralized finance will only occur through collaboration, not only with other DeFi projects, but the centralized entities that monopolize much of the markets we're in desperate need of tapping into.
In order to solve the issue of fragmentation in the industry, hybrid solutions are likely to rise to prominence, and platforms stubbornly refusing to adopt and support DeFi protocols risk obsolescence. The question should no longer be whether the future is centralized or decentralized, but rather, who will be first to bridge the divide?
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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d353dc487666085bf3c7001d1839056f
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https://www.forbes.com/sites/forbesfinancecouncil/2020/12/16/14-smart-and-simple-ways-to-reduce-churn-in-your-online-subscription-service/?sh=2109f7bf46ff
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14 Smart And Simple Ways To Reduce Churn In Your Online Subscription Service
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14 Smart And Simple Ways To Reduce Churn In Your Online Subscription Service
getty
One of the biggest concerns for any business is customer retention. This is especially true for subscription services that charge a recurring monthly or annual fee for access to an online product. Your service may be enticing and useful at first, but if you aren’t innovating or providing consistent value, you’ll quickly lose customers.
We asked the experts of Forbes Finance Council for tips on keeping subscription customers engaged and connected. Below they share 14 effective methods to reduce churn in an online subscription service.
1. Balance technology with the human touch.
We all want the efficiency and access that comes with subscription services, but sometimes we just need to talk to someone who can help us solve a problem quickly. Far too many subscription services today leave out the human touch, leaving clients underwhelmed. - Mia Erickson, Whitnell
2. Seek constant feedback.
I am a strong believer in getting constant feedback from your customers and your community. Ask what features to develop and learn their challenges. Once you get them involved in the product roadmap, they often feel that they are a part of your journey—they have a stake in the success of your product. The most engaged customers are usually the ones with the lowest churn rate. - Shiran Weitzman, Shield
3. Focus on frictionless onboarding.
The first three months are crucial to providing frictionless and engaging onboarding to “catch” the user. Invest in research and A/B tests to ensure you manage expectations, help users overcome difficulties and properly highlight the unique advantage of your product or service. - Dmitry Dolgorukov, HES Fintech
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4. Review payment methods and renewal paths.
You can reduce churn—specifically mechanical churn—by reviewing your payment methods and paths for renewal as well as the reasons for payment failure. Additionally, you need to look at how, when and where you’re communicating payment failure with customers. - Andrew Lyon, Focused Energy
5. Offer a pause or a price reduction option.
It might be a good idea to offer customers the option to pause a subscription or to reduce the service and price for a limited time—especially in times when people are trying to reduce their personal spending. This way the business does not lose the customers, and it might be easier to win them back after a certain time. - Christoph Lymbersky, Visionary Founders Capital
6. Offer referral bonuses.
Interact with your subscribers and poll them for feedback on the subscription service. Give them referral bonuses when you sign up a client they recommend. Determine the value they receive, and keep adding to the value of the subscription. - Dave Sackett, ULVAC Technologies, Inc,
7. Carefully manage your email database.
Develop dynamic custom landing pages that match the emails you’re sending. Never, ever text unless it’s about shipping details. Surprise and delight—for example, give a discount that’s applied at checkout or offer free shipping. Don’t use it as a draw to bring a customer in, though; give it when they are onsite. And try harder with packaging—whatever happened to making folks feel special? - James Hewitt, CEO, Advisor, Angel Investor
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
8. Monitor client usage.
Many customer-success teams only get involved when a client is coming up for renewal. Few things tell you how much a client likes your product as usage does. Check to see if all of your licenses are being used—if you sold 10 seats, but only five are being used, you need to find out why, or you may end up churning half of your account. - Aaron Spool, Eventus Advisory Group, LLC
9. Build a customer success roadmap.
Churn is usually an issue with product, pricing or customer success. For subscription services such as software or e-commerce, customer success is often the culprit. Businesses should have a roadmap that carries a customer from onboarding and implementation to their first success using the product. Regular touch points beyond that first success are critical to retention and customer stickiness. - Douglas Palmer, Ascend Capital Group
10. Understand why people subscribe in the first place.
The most underused subscriptions I see are gym memberships. People join gyms to get fit and healthy, but habits are hard to change, even if you have a gym membership. Your subscription model needs to help clients get the results they want to see. Think of the moment someone subscribes as the start of a conversation. - Brian Henderson, Whitnell
11. Invest in a customer-success team.
A customer-success team—specifically a customer-success manager—who prioritizes onboarding, enablement and support can not only reduce churn but also help you upsell existing customers (growth) and get valuable product feedback (innovation). To keep customers, you need to invest in improving their overall experience. A customer-success team can be at the forefront of that mission. - Zack Cook, Rigor
12. Increase the value you provide.
When you lose customers, it means you’re not providing enough value, so consider how you can offer enough value that customers can’t live without your product. Sometimes, this is as simple as touching base with customers and asking questions about where you can improve. Be sure to communicate regularly by building relationships in both human and digital ways. - Joe Camberato, National Business Capital & Services
13. Know your metrics.
When you understand the metrics, you’ll discover the months that the highest percentage of members drop. Typically you’ll discover a pattern. Provide extra bonuses or benefits to the members just before those months to remind them of the benefit of the membership and not just the cost. - David Gass, Anderson Business Advisors, LLC
14. Send out a customer happiness survey.
Feedback, feedback, feedback! Have a customer happiness survey that’s accessible to the customer in all communications. Send drip campaign check-in emails and ask if they are happy. Underpromise and overdeliver value-adds, such as a complimentary Q&A session with the founder. - Jackie Meyer, Meyer Tax, The Concierge CPA Coach
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aed258e6e053869a3500bba52b6e8651
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https://www.forbes.com/sites/forbesfinancecouncil/2020/12/16/the-next-decades-investment-opportunity-data-as-the-fourth-pillar/
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The Next Decade's Investment Opportunity: Data As The Fourth Pillar
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The Next Decade's Investment Opportunity: Data As The Fourth Pillar
Managing Director at 4490 Ventures, an early stage venture capital firm.
getty
Throughout the history of commerce, from ancient-era merchants to 19th-century whaling ships to modern corporations, companies have used three main pillars to create strategic differentiation: people, processes and technology. The past decade has been different. While the vast majority of companies have used or collected data simply in support of their technology pillar, an elite few have instead elevated data as a pillar of its own, finding success at historically unprecedented levels.
In his classic 1996 Harvard Business Review article “What Is Strategy?” Michael Porter makes an important distinction between “operational effectiveness” and “strategy.” To summarize, he defines operational effectiveness as performing the same business activities better, and strategy as performing different business activities than your competitors. In the context of Porter’s definitions, up until the past decade, data has been used for operational effectiveness but not for strategy.
Walmart was masterful at using the original three pillars — people, processes and technology — to dominate retail and reach the pinnacle of its industry. But then Amazon came along and elevated data into a top-level role as the fourth pillar.
Instead of simply competing against Walmart’s three pillars, Amazon massively invested in data management infrastructure to power numerous innovations such as its product recommendation engine and its ability to analyze consumers’ product research behavior. It then made its infrastructure available to others to create what is now the third largest ad-revenue business in the U.S., behind only Facebook and Google. Amazon’s investments in data management infrastructure caused them to suffer through nearly $3 billion of losses in its first five years as a public company before becoming profitable. Then it became really profitable.
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By the end of 2015 — only 20 years after its founding — Amazon (with a market capitalization of roughly $294.5 billion) had nearly doubled Walmart's market capitalization (about $167.5 billion). By the end of 2017, Amazon was on its way to doubling the combined market capitalizations of Walmart, Costco and Target.
You could imagine the boardrooms of those companies and others watching Amazon’s rise and commenting on it with the same mix of awe and bewilderment as golfing great Bobby Jones, who, after seeing a young Jack Nicklaus beat the best golfers in the world by nine strokes at the 1965 Masters, famously said, “He plays a game with which I am not familiar.”
It’s not that the Amazon executives were better operators than rivals’ executives. It’s that Amazon was truly playing a different game. In Porter’s vernacular, they were performing different business activities. They could do this because Amazon was working with four strategy pillars rather than three. It's not unlike Einstein’s breakthrough in describing the physical world where all other physicists had failed, by adding the fourth dimension of time to the existing three spatial dimensions. Many existing beliefs about the physical world broke down, and entirely new opportunities opened up because of it. That's the inflection point we are at in the world of business.
Microsoft, Apple, Amazon, Alphabet and Facebook all use data as the fourth pillar of competitive differentiation via sophisticated artificial intelligence/machine learning (AI/ML) deployments. As of this writing, they are the five largest companies in the U.S., representing approximately $7.2 trillion in combined market capitalization, or nearly 19% of the approximately $38 trillion entire market capitalization of all U.S. public companies. This is up from 0.5% in 1995, when total U.S. public company market capitalization was approximately $6 trillion and Apple and Microsoft’s combined market capitalization was approximately $30 billion, Alphabet and Facebook had not been started yet, and Amazon had just sold its first book. That is a 40-times increase in relative value in 25 years, and these companies are only getting more economically dominant at a rapid rate as they amass more data.
Now that the business world has seen this happen, the real question is: Why aren’t more companies using data as a fourth pillar? The answer is it is incredibly expensive and difficult to do this with existing data management tools, and only a small number of companies have the capital and knowledge to do it.
The foundational design of data management has remained fundamentally unchanged since the advent of relational databases and the three-tier application architecture, introduced nearly 40 years ago. Data was never considered to be a competitive advantage back then. Its purpose was to lie dormant in a database until called upon by application logic to support the automation of a manual process. Data management tools were designed to support that use case. To deploy the AI/ML systems needed to use data as the fourth pillar requires creating a “data-centric” architecture, MacGyver-ing the tools that were designed for the “application-centric” architecture that has been prevalent for 40 years.
Analysts generally estimate that the total cost of ownership (TCO) of making an application data-centric is about 10-15 times that of building and maintaining the core application itself. Research by Fluree (a company my firm invests in) found that the average application costs $175,000 for the database, app server and client software development, and the immediately identifiable “other” costs are about five times that. Layering in the cybersecurity measures adds at least another five to 10 times the cost of the core app stack in terms of products and labor.
Given that this is a cost, complexity and cyber-risk burden only a small number of companies can absorb, I believe the biggest investment opportunity of the next decade is in companies making the picks and shovels that reduce the TCO of building and managing data-centric systems, enabling their customers to use data as a fourth pillar of competitive differentiation. I previously wrote about how blockchain can address the cyber-risk burden, and we’ve already seen early versions of addressing the complexity aspects with Snowflake and Palantir, but we are still in the first pitch of the first inning in this game. Venture capitalists like me are actively searching for companies that address some or all these aspects as they have the potential to follow Snowflake and Palantir’s lead with multibillion IPOs over the next several years.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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a75f253148f5338513d5dd768be7337a
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https://www.forbes.com/sites/forbesfinancecouncil/2021/01/05/nine-resolutions-to-start-your-small-businesss-year-off-strong/?sh=77c06e8c1922
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Nine Resolutions To Start Your Small Business's Year Off Strong
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Nine Resolutions To Start Your Small Business's Year Off Strong
Chad Otar is the President at Lending Valley, Inc, a one stop shop for business owners' financing needs.
getty
As the new year arrives and we all hope for a better 2021, for small-business owners, now is the perfect time to look forward and start planning for a successful year. Here are nine New Year's resolutions that any small business could and should be thinking about.
1. Be clear in your direction. The start of a year is a great time to assess what you want for your business. What is your end goal for your business? If you don't know the destination, you cannot possibly hope to go on a successful journey. Write out what you plan to achieve for the year and over a longer period, then ensure everything you focus on in 2021 is aimed at achieving that vision.
2. Know who your customer is. One assumes increasing sales and finding new customers will be a goal for your business. To achieve that, you have to start by understanding who your customer is; everything else in sales and marketing stems from this point. Understand their needs, the pains they have and the desires that fuel them. This will give you a picture of who they are.
3. Focus on the channels that matter. We have all been there. You are posting on Facebook, scheduling tweets, writing a blog, recording a podcast, fixing your Google Ads — and then you remember it has been two weeks since you were on Instagram. Stop trying to manage too many channels and instead focus on the ones that matter to your audience. Focus on who your customer is and the places they hang out. By knowing what makes your customers tick, you can pick the two or three channels they use most frequently and then stick to those. Perfect them. Managing three channels well is better than working on 10 in an average manner.
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4. Only talk about what matters. In a Forbes interview earlier this year, brand strategist Pamela Barba said something that really stuck with me: "Don't lose their attention by promoting yourself all the time." Remember the key to sales and marketing: It is not about you; it is about them. So, understand what your customer wants to hear about. Learn the subjects that interest them. What sort of images and video do they want to see? Combine these subjects with ones you can talk about confidently and in an engaging way. At this point, you have the content you should focus on.
5. Remember what makes you special. I recently read a Business News Daily piece that stressed the importance of reaffirming your company's mission statement as the business grows. While I agree with that advice, I believe business owners need to take it a step further by incorporating into their mission what sets their business apart from others. In the businesses I've run, I always built our niche and why we were different into my vision and mission statements. Never forget that you have competitors offering the same or similar products or services as you. You need to understand what makes you special and then focus on that message in all your marketing. If you are not sure what makes you special, then why should a prospect buy from you? So, spend time listing what makes you special and better than someone else, and use that to attract your customers.
6. Find your niche. One of the best ways to compete as a small business is to find your niche. Business owners want their customer base to be everyone, but that's not realistic. Focus on the audience who will love your product the most. Doing this allows you to sell to them only and focus your message and budget accordingly.
7. Learn something new. Running a business is all-consuming, but it is good now and again to take a look outside your business and learn something new. This will fuel innovation and will help you find new places to sell, which can drive your business forward.
8. Plan well to save time. Everyone hates admin; it takes time. But guess what? Poor administrative practices take up a lot more time. Plan your administrative tasks, and take control of your accounts. Schedule marketing. Doing things ad hoc will take longer than when you schedule them and get them out of the way.
9. Engage with your customers more. No one knows better what prospects want than your existing customers. Engage them more in 2021. Talk to them in your store. Send them surveys online. Arrange research groups. Build welcome programs. Whatever method works for your business, use that tool to get honest feedback and act on that. Your business will be better for it.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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8e39483ae8ebd8122b14c9e82d8dedcb
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https://www.forbes.com/sites/forbesfinancecouncil/2021/01/06/the-financial-iron-man-supercharging-your-strategic-role-as-cfo/?sh=78d349a81848
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The Financial Iron Man: Supercharging Your Strategic Role As CFO
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The Financial Iron Man: Supercharging Your Strategic Role As CFO
Co-Founder of Mosaic, former Finance Operations Lead at Palantir & VP Finance at Axoni
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There's a moment in the first Iron Man movie when Tony Stark puts on his armor and finally becomes airborne. He flies around the garage, and upon landing, he remarks, "Yeah, I can fly." Stark is a genius, and while his heroism isn't defined by a suit of armor, it does give him a powerful tool that helps him combat evil (and, you know, save the world).
So what does Iron Man have to do with strategic finance? Well, as the co-founder of a strategic finance platform, it's how I think about the way modern CFOs interact with technology to become the heroes for their businesses.
Technology Is The Iron Man Suit For CFOs
Every finance leader wants to be strategic and become the modern CFO — the kind who can make split-second, data-driven decisions in the best interests of their business. To do this, you need to assemble your own Iron Man suit with the latest advancements in technology.
A wave of innovation has reached the CFO's tech stack, giving you the power to be a truly strategic CFO. As you build your suit, three areas to consider include:
• Automation: This helps streamline the collection and cleansing of data for financial reporting with technologies like robotic process automation to create a single view of your business. According to McKinsey, 77% of time-consuming, backward-looking general accounting operations can be fully automated, freeing up hours you'd spend on manual data pulls.
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• Artificial intelligence: An Accenture study found that 53% of CFOs worry that their finance function is reactive. You can use AI to ingest financial data from across the business and apply advanced machine learning algorithms to help predict the outcomes of multiple scenarios. Instead of spending days or weeks re-creating financial models, you can quickly forecast where your business is heading.
• Data visualization: This makes corporate finance more accessible by packaging data in ways every stakeholder and contributor can understand. These visualizations shouldn't require the same engineering skill it takes to work with traditional business intelligence software.
The Modern CFO Is More Than Just A Suit Of Armor
When Captain America asks Tony Stark who he is when you take away the Iron Man suit, he says, "Genius, billionaire, playboy, philanthropist." Maybe CFOs don't wear quite the same hats as Tony Stark. But like Stark, modern-day CFOs need to assume four main identities.
1. Operator
A CFO must have full control over the operational metrics that empower individual departments to meet their day-to-day objectives. Even as you shift your focus to more strategic thinking, you still need your finger on the pulse of tactical plans across the business. As an operator, the CFO should have three main objectives:
• Track mission-critical metrics: For software-as-a-service (SaaS) startups specifically, you need clear visibility into go-to-market metrics, such as annual recurring revenue, monthly recurring revenue, retention, burn rate, runway and net revenue retention.
• Allocate budgets: Collaborate with individual department leaders to understand their short-term and long-term needs. Map that information against the company's financials, and set accurate budgets that help departments strike a balance between ambitious and realistic goals.
• Implement cross-functional financial plans: Pull together budgets and financial plans for individual departments into an overarching model. A cross-functional approach ensures that financial plans don't exist in silos, putting all departments on a path to meet business goals together.
2. Technologist
The CFO should plug into every tool that generates financial data across the business — the list of which gets longer every day. As individual departments implement more and more SaaS tools to improve their workflows, your job gets harder. Now, it's not just the enterprise resource planning and payment systems you have to be fluent in — it's the customer relationship management, human resource information system, marketing stack, expense reimbursement tools, payment systems, internal product data and the list goes on. If you have Tony Stark levels of tech prowess (in addition to your financial expertise), this might not seem like such a big deal. But for many CFOs, assuming this identity is a real challenge.
This challenge isn't just about fusing data at scale. It's about achieving the speed and flexibility necessary to produce the right data and surface it to the right people at a moment's notice.
3. Executive
The CFO should not just be heads-down in the numbers all day. In addition to direct financial responsibilities, they should spend time:
• Managing expectations across staff, the C-suite and shareholders: You're the reality check on the business. You need to rein in departmental hiring plans when they become too ambitious for the company to handle. And you need to craft the financial story that keeps shareholders engaged in what you're doing.
• Enforcing cross-functional goals for the business: The CFO is the glue that holds all departments together. You must make sure everyone is aligned on the cross-functional goals that drive sustainable growth.
• Addressing board member feedback to inform business strategy: Whether board feedback is about product planning, pricing models or financial forecasts, it's the CFO's job to address the concerns and provide the C-suite with strategic guidance.
4. Adviser
The CFO must assume the role of second-in-command to the CEO — the strategic adviser who offers proactive insight into the business. For too long, the CFO has had to take a backward-facing approach to the business. Finance teams are constantly using data from previous months and quarters to forecast the future instead of using real-time data. CFOs can't assume the adviser role without a more proactive approach.
Technology Doesn't Define the Modern CFO — But It Helps
A suit of armor alone doesn't define Tony Stark. It's how he uses the suit that empowers him to take on any villain. With innovative tools in place, you'll have everything you need to keep your business trending against the forces of evil.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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b627eca8f36f83555ab8ec8a79aa3ec3
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https://www.forbes.com/sites/forbesfinancecouncil/2021/01/12/delivering-clients-to-their-financial-destinations-what-wealth-managers-can-learn-from-waze/
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Delivering Clients To Their Financial Destinations: What Wealth Managers Can Learn From Waze
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Delivering Clients To Their Financial Destinations: What Wealth Managers Can Learn From Waze
Anthony DeChellis is CEO of Boston Private, a leading provider of wealth management, trust, and commercial and private banking services.
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The wealth management industry is evolving at a breakneck pace. Increased competition, the proliferation of technology and changing consumer preferences are propelling the industry to a new age. To try to predict what that new age of financial services will look like, I think we can look to a familiar tool: the Waze navigation app.
Waze has become a trusted resource to guide users to their destinations. It focuses on improving the route taken, adjusting for real-time conditions, all with a sleek, intuitive interface. It does not replace human judgment or decision-making, but it uses data to help take the guesswork out of the trip.
Navigation assistance is a metaphor for the wealth management industry, not as a reflection of the state of things currently, but as a template for where our industry should be going. There are many paths people may take to the same destination, but those paths can vary widely based on a person’s investment time horizon, risk tolerance and other factors impacting their personal balance sheet.
Like Waze, financial services firms must be equally focused on getting clients to their desired destinations and outcomes by delivering product-agnostic and high-value advice.
No client ever woke up in the morning and said, “I wish someone would sell me an investment product today.” Instead, they think about their goals, challenges and legacy; they hope and dream about specific outcomes for their businesses or family successes. That’s why a meaningful advisory relationship focuses on client goals without concern for corporate sales goals or commission incentives.
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Waze’s objective is to get a driver from point A to B safely and quickly using the most efficient route possible. Imagine if, instead, the app prioritized its advertisers in every instance and took users out of their way to pass a sponsoring business rather than directly to their desired destination. That would defeat its purpose and undermine users’ trust; they would abandon the app quickly.
Of course, determining the quickest and most efficient route possible isn’t always as simple as it looks; there’s an enormous amount of data and computing power behind the app’s sleek interface. Peeking under the hood, the application crunches quantitative data (for example, weather conditions and speed) from millions of users on thousands of routes and combines it with qualitative data provided by users themselves (for example, police sightings, accidents and road closures). This is where financial services still has immense progress to make. Empowering advisors with the right tools and analytics will help them synthesize information and deliver insightful advice and guidance. But there are qualitative factors that algorithms can’t easily incorporate.
The aspirations of our clients go far beyond purely quantitative goals, and the most important tend to be qualitative ambitions, particularly those related to family, professional accomplishment and community. Take, for example, the issue of preparing the next generations — the children and grandchildren of clients — to become stewards of the family wealth. Transferring assets from one generation to the next in the most efficient manner possible is only half the battle. Preparing the next generation to effectively manage family businesses, trusts and foundations is far more complicated and challenging. It’s about dollars and cents, and it’s also about mission, vision and values. Managing that transition, especially across multiple generations and numerous family members, requires a thoughtful combination of quantitative and qualitative analysis supported by a trusted advisor who puts their clients’ best interests first.
Tech companies’ extraordinary user experiences raise the bar for all industries. The winning wealth managers will use learnings from tech leaders to deliver high-value advice empowered by technology that gets clients to their end goals with efficiency.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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ab73108c31b93127b8cb6ae152faa05f
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https://www.forbes.com/sites/forbesfinancecouncil/2021/01/12/how-the-pandemic-could-change-the-game-for-fundraising/
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How The Pandemic Could Change The Game For Fundraising
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How The Pandemic Could Change The Game For Fundraising
Csaba Konkoly is Co-Founder & President of Capital, the company that is pioneering the Capital as a Service model with The Capital Machine.
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When Covid-19 first reached the U.S. and businesses rapidly began to shut down, investors braced for the worst. Venture capitalists (VCs) put out messages to founders to shore up their balance sheets and prepare for a funding nuclear winter.
But for businesses in many sectors, winter never came. Government stimulus and the ease of working remotely meant that many larger businesses and investors continued without missing a beat. In-person meetings moved to Zoom, and day-to-day communications moved to email or Slack.
While business as a whole transformed virtually overnight, the infrastructure of investing has stayed the same. Investors may be conducting their meetings virtually, but they still typically rely on outdated systems such as data rooms and requesting company information via email. These anachronistic systems don’t allow investors to see a company’s data in real time, making investment decisions more difficult. And because each company can choose what data to share and how, investors can't easily compare various investment opportunities.
The upheaval of traditional systems due to the pandemic presents a chance for investors to modernize how they invest. Instead of bringing in-person systems online, why not completely reinvent investing from the ground up? Why not use this as a chance to invest smarter, using data instead of personal relationships to make investment decisions?
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Investing And Covid-19
Before Covid-19, investing was mostly based on who you know and who you could shake hands with. Many investors insisted on meeting founders in person, meaning that the companies an investor would invest in had to be geographically proximate. This also meant that founders needed existing connections with investors to receive funds; the company’s successes alone weren’t enough to catch most investors’ attention because investors were overwhelmed by pitches and decks and couldn’t engage with every entrepreneur who wanted to speak with them.
But Covid-19 presented the perfect landscape for change. Archaic systems and paradigms that were already shifting are seeing change even faster than before. Suddenly, taking a video call in your bedroom with kids playing in the background is no longer unprofessional and taboo. Conversations that would have previously required formal in-person meetings at a nice office were suddenly conducted from living rooms all around the world.
While investors moved their meetings online, their methods of investing didn’t shift in most cases. They still sought founders they already knew in areas they were still close to — even if they couldn’t travel to the companies’ offices.
Investing can and should undergo the same shifts other systems have. Instead of relying on proximity and personal relationships, investors should switch to a modern, digital way of evaluating investments: data.
Data-Driven Investing
Investors have never had easier access to company data than they do now. With more and more companies storing all their financial information in the cloud, investors could pull data directly from a company’s system of record and evaluate its profitability and projected growth without meeting in person or relying on antiquated data-sharing systems. They would be able to access this data in real time and holistically without waiting for the company to share information manually.
The difference between a real-time system and one that relies on data from quarterly financials is their granularity. A system that shows transaction-level data allows for more precise forecasting because it’s driven by consumer behavior, which is far less volatile than valuations. This level of detail can provide investors with a much better picture of a company’s overall health than traditional reporting.
Covid-19 has already forced investors to eliminate in-person meetings as a factor in their investing decisions. Evaluating companies by their data would be a logical next step in the process, removing the need for these meetings entirely even after the pandemic passes.
Final Thoughts
Covid-19 has created upheaval across industries, businesses and systems. From how we communicate to how we do our work, the entire business world has had to shift rapidly to accommodate the pandemic’s restrictions.
In the midst of these changes, there is no better time to reinvent the way we invest. The world is going digital, whether we like it or not. If investors want to remain on the cutting edge of investing, they need to follow suit.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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6c9ac526afd73ff6b8c8143c7be6742c
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https://www.forbes.com/sites/forbesfinancecouncil/2021/01/13/are-you-big-enough-to-justify-a-paperless-accounts-payable-system/
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Are You 'Big' Enough To Justify A Paperless Accounts Payable System?
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Are You 'Big' Enough To Justify A Paperless Accounts Payable System?
Vice President at Bayer Properties, overseeing financial services for the commercial real estate portfolio.
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Accounts payable (AP) is one of the critical path items for any company. Accomplishing timely vendor payments while managing cash flow and maintaining critical accounting controls is a vital part of having a successful company. Most organizations start out with a very manual process. Let’s face it: On the startup cycle of a new company, there may not be sufficient investment dollars to automate every activity, and key decisions have to be made on how dollars will be spent.
I’ve worked in the real estate industry for 20 years, for both large real estate investment trusts (REITs) and smaller development companies. It’s only since 2017 that I’ve worked for an organization that used a paperless AP system. In fact, we implemented it in the face of resistance that we were “too small” to need a paperless accounts payable system. Our accounts payable/accounts receivable (AP/AR) department consisted of three associates processing payables and cash receipts for a portfolio of 15 to 22 shopping centers varying in size from small local centers to large malls and lifestyle centers in excess of a million square feet of retail each. The portfolio-averaged spending that was being processed by accounts payable ranged from $12 million to $15 million annually. It seemed like a reasonably efficient operation, and spending dollars on software didn’t make sense (or cents).
Let’s take a look at the actual impact of moving to a paperless system. I’ll give you a hint. It exceeded our wildest expectations.
First, let me add a disclaimer. I’m not advocating for or advertising any particular paperless AP system on the market. I strongly suggest you do your due diligence and investigate your options, including online research, demonstrations by vendors and price quote comparisons. This is a dynamic industry with numerous offerings. You should be able to find a good fit for your organization based on long-term plans, current needs and the depth of your pockets. I will mention that you should look for a provider that integrates with your accounting software. One of our biggest gains was in not having to key invoices.
The basic improvements you could see, based on my company’s experience, break down into three categories: transparency, efficiency and accounting controls. Some of the functionality can create wins in all three categories.
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Transparency of the system means you can see at any point where an invoice is in the process, how long it took to move to the next stage of the workflow and all the details of getting it paid. Our paperless system gave concrete insight into bottlenecks in our approval process and enabled us to address issues that we previously felt but were unable to prove quantitatively.
You gain efficiencies in speed of processing. Scanning and uploading an invoice for routing electronically shaved days to weeks off our routing process, depending on the location of the center processing the payment. We gained the ability for staff to pull up images of invoices for research purposes without the need to pull (and refile) paper copies. The reporting functionality improved the process of transmitting invoice copies to clients, auditors and vendors in response to requests. We operated for six months to work out the problems with our new paperless system and were then able to redeploy our senior AP associate to a new role in the construction department and add additional duties to the remaining two associates in AP/AR. This reduced our labor costs to roughly half the original cost we were incurring, effectively paying for the software. We also saved money on record storage (disk space is much cheaper than real estate), and FedEx costs went down across the board.
The workflow buildout can improve audit controls. All the signature limits were automated, ensuring every invoice submitted met with company approval guidelines. The system-generated audit trail provided comprehensive information for audit testing. There was never again a problem with lost AP records because someone had misfiled an invoice. The electronic records in the accounts payable system pulled over via an API into the accounting software for processing, ensuring there were no keying errors on the data being added to the accounting records. Month-end reporting improved our accrual process to ensure monthly expenses were captured correctly.
The final point I would make about the paperless system is scalability. The efficiency of a paperless accounts payable process means you can take growth in stride with only nominal AP-related cost increases.
In short, I wish we had made the move years ago. I challenge you to take a long look if you think your organization is “too small.” Better is better, no matter the size.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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72805778ed81c04528c3322f84ff1bb4
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https://www.forbes.com/sites/forbesfinancecouncil/2021/01/14/two-steps-to-take-now-to-set-yourself-up-for-financial-success-in-2021/
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Two Steps To Take Now To Set Yourself Up For Financial Success In 2021
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Two Steps To Take Now To Set Yourself Up For Financial Success In 2021
David Herpers is the Head of Product at Credit One Bank. His expertise includes wealth management, banking and product management.
getty
Even if you've done everything "right" this year, you've probably spent more time than usual thinking about your overall financial health — especially if you're nearing retirement.
While 2020 has proven there is no telling what the future may hold, there are tried-and-true DIY practices that can help prepare you to make the most of your long-term financial strategy. Focus first on reviewing habits around spending and savings.
Identify your weaknesses.
Even if you have a robust, diversified portfolio, your day-to-day spending habits may have more long-term impact than you think. Money in versus money out balance is a smart place to start, especially for those who are still establishing a strong foundation, but it's important at every stage of your financial life to also re-examine the tools you're using to spend money on a daily basis.
For example, does your credit card offer rewards that actually provide meaningful benefits to your current stage of life or interests? Making your financial tools work harder for you is an important piece of overall strategy that is often overlooked.
Rewards can add up considerably over time. The new year is a great time to review the rewards you're collecting. For instance: Say you signed up for a hotel rewards card because of an impressive welcome bonus but haven't redeemed any points for a night's stay at a hotel in months. It might be time to check with your credit card provider or compare new options that may reward you for more frequent daily purchases — even simple things like gas, groceries and other essentials.
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Consider alternative saving strategies.
As uncertainty was on the rise this year, increasing cash on hand became a popular topic in the news. Many of us followed suit, divesting cash to protect our portfolios. Now is the time to figure out what to do with that cash.
Interest rates for traditional savings accounts are historically low right now, according to Bankrate. The growing popularity of digital banks, however, is increasing the availability of savings products that offer more competitive returns compared to legacy banks thanks partially to the low overhead required by the digital or "neobank" model. Additionally, digital banks are typically known for making their customer services available to more customers than traditional banks. The kinds of hands-on, on-demand service that typically requires a heavier deposit or buy-in from customers is now more accessible than ever.
CDs (certificates of deposit) and jumbo CDs are another type of savings vehicle that offers minimal risk of loss with guaranteed returns. If you have a healthy savings balance available and are looking for a way to grow it without worrying about market performance, these can be a good option. Pay attention to the CD return rates, which often fluctuate. Similar to offers on traditional savings accounts, many digital banks are going to market with CD and jumbo CD products that often out-reward or out-return brick-and-mortar banks.
Be ready in 2021.
Don't overlook the challenges of the last year and their impact on your long-term financial outlook. Evaluating your habits and the financial tools you use every day can help you get the most out of your spending and saving.
Assess the critical moves you need to make now that will help set you up for financial success in 2021 and beyond.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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9a0024edf3e9f53853f886788abe3b7d
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https://www.forbes.com/sites/forbesfinancecouncil/2021/12/28/fintech-trends-to-look-out-for-in-2021/?sh=38d719d16495
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Fintech Trends To Look Out For In 2021
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Fintech Trends To Look Out For In 2021
Dmitry Dolgorukov is the Co-Founder and CRO of HES Fintech, a leader in providing financial institutions with intelligent lending platforms.
2020 will go down in history as the year of the pandemic, but there's one other thing it should be remembered for, too. It is kick-starting a wave of innovation. In just months, a vaccine for Covid-19 was developed. To put this in perspective, this process usually takes 10 years.
But this innovation didn't just occur in the medical field. Across various sectors, people have embraced the challenges and developed innovative solutions. Fintech is no exception. These are the top trends to watch.
Tech Turns Finance
Ever since Apple Pay arrived on the scene in 2014, followed by Google (Android) Pay in 2015, the world of digital payments has been changing. Forget about your credit or debit card. Now all you need is your phone. But even that's old news. In 2021, there is an increased drive for digital-first finance for the mobile-first generation. This means that in the next year, we should keep an eye out for big announcements from traditional tech companies.
Digital-Only Banking
According to one survey, 14.2 million U.S. citizens consider a digital bank their primary money management system. In the U.K., that total is 23% of the population (12 million people). And this trend is only growing. Accelerated by the Covid-19 crisis, which left many in a state of economic instability, digital banking services are gaining popularity due to their accessibility and ease of use. However, some mistrust remains as users want to see more security and fraud protection before giving their trust entirely to digital services.
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Partnerships With Traditional Banks
When it comes to brick-and-mortar versus digital, it's a game of updating or getting out of the market. In 2021, what we are going to see is traditional and nontraditional banking structures working together. This can already be observed with Mastercard's and Visa's deals with fintech firms and with Google's recent news of a partnership with Citi and several other banks to create an all-new banking system.
Autonomous Finance
The way people interact with finance is evolving. Fintech has offered the possibility to get away from traditional systems' supposed inaccessibility and move into something more accessible. 2021 will see an increase in autonomous finance. Like the revolution of self-service checkouts in supermarkets, autonomous services in fintech will allow customers greater control over their financial activities. This might be in the form of fully digital account opening, digital signatures or something entirely different.
Artificial Intelligence
Both brick-and-mortar banks and fintech companies are adopting AI solutions at increasing rates. Partly, this may have been spurred on by the pandemic, but it's a trend we're increasingly seeing. AI and machine learning solutions are being applied in many business areas, from customer service chatbots to fraud detection, to analyzing the right financial products for a client.
Biometric Security
An old French proverb comes to mind: Ils doivent envisager qu'une grande responsabilité est la suite inséparable d'un grand pouvoir, or its popularized version: "With great power comes great responsibility." As financial services become increasingly digital, the methods companies use to protect both themselves and their clients must adapt.
When you enter a digital bank account, facial recognition is one way to prove your identity to the provider. Such systems are only increasing, becoming more advanced and accurate, and this is a trend set to continue in 2021.
Peer-To-Peer Lending
With market value estimates of $44 billion-plus by 2024, things are looking promising for the alternative lending sector. More people are seeking alternatives to current lending methods, and as a result, we're seeing more providers on the market and a higher quality of service.
In 2021, we expect that this trend will continue to grow, and we will observe an increase in alternative lending providers, such as person-to-person loan systems. In turn, both retail clients and businesses will have access to a wider variety of services, empowering them with the choice to make their own financial decisions.
Regtech
With the growth of fintech in recent years, regulators across the globe are grappling with developing more efficient regulatory systems for the modern era. While it's undeniable that financial technology is a power for good in the world, it's also a new opportunity for scammers. Regulatory providers are working harder than ever to combat these threats to service users and businesses. In 2021, we are likely to have closer collaboration between fintech providers, legislators and regulatory bodies as they work together to create a safer financial industry for everyone.
The Bottom Line
What we know for sure is that 2021 will be marked with ongoing “fintech-ization” of services, be it automated lending in mobile banking, plenty of payment options in food delivery apps or a step-by-step movement to a cashless economy. The fintech revolution is gaining momentum, so now is the time to research the market, your competitors and ways to leverage tech to build a better customer experience.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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3c0557cce2a144281f3542cd8f30c5f6
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https://www.forbes.com/sites/forbesfinancecouncil/2021/12/29/eight-ways-to-simplify-and-optimize-your-accounting-system/
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Eight Ways To Simplify And Optimize Your Accounting System
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Eight Ways To Simplify And Optimize Your Accounting System
I am a CPA specializing in helping busy business owners decrease the amount of time and energy they need to manage their accounting system.
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Clint has a small business and drew heavily from his business degree and corporate experience when setting up his accounting system. The process was long and tedious, but he’s happy with the result. He can create purchase orders when he needs to buy inventory, produce sales orders when new orders come in, and generate financial reports to know what his profit is.
Large businesses must have a robust accounting system with internal controls. It’s not just necessary but required by law. Clint took this rigorous approach to his accounting system, but he’s not sure it was the correct course of action. After four months of the new system, the bookkeeping is two months behind, and purchase and sales orders have not been created after the first month.
Clint feels like he has a better feel for what his numbers are than what his accounting system is showing. Plus, it’s not even up to date. The problem Clint faces is that his accounting system is designed to be run by multiple employees, but in his business, he’s the one managing it all.
This problem is often faced by overzealous business owners with corporate experience and business degrees. I fall into this category. I want a robust accounting system, but for a small business, the price is just too steep.
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But here’s the thing: Small businesses can’t model a big-business accounting system. It’s not effective, and it wastes time and money. What you, as a small-business owner, must do is simplify and optimize your accounting system and focus on actionable metrics. Here are eight ways to do so:
1. Get rid of purchase and sales orders. Unless you have multiple employees that need authorization to buy and sell, POs and SOs are pointless. If you are the owner, you buy what you need and sell to those willing to buy. You typically charge the customer on delivery, so fancy paperwork like sales orders is unnecessary.
2. Don’t track your inventory in your accounting system. If your business has inventory, it’s easier to use dedicated industry-specific software or even a generic inventory management system. Your accounting system should just track purchases. Adjustment for the cost of goods sold can be made at year end by your accountant.
3. Automate and upgrade your invoicing system. If you can’t email invoices from your accounting system and allow clients to pay those invoices online, it’s time to upgrade. Most cloud-based accounting systems have this feature, and it’s a must-have for small businesses.
4. Pay your bills as you receive them. Sure, you lose some “interest earned” if that money stays in your account, but the time gained by not having to manage bills makes up for it. Plus, late fees are much steeper than interest earned — one late fee and you would be better off just paying everything upfront. And paying upfront also reduces the need to track bills in your accounting system.
5. Avoid any personal expenses paid from business accounts. You shouldn’t use your business as a personal account. Additionally, each of those transactions now must be accounted for. Save yourself the time and trouble by being diligent about which card to swipe.
6. Reimburse business expenses from personal accounts once per month or once per quarter. You don’t need to constantly reimburse yourself for business expenses. Batch all your transactions and handle them once per month (or even better, once per quarter).
7. Set up your payroll so it’s automatic. Not all businesses have steady cash flows, but if you do, automate your payroll so you don’t need to constantly tweak or change it.
8. Get help when you need it. There are only a few key parts to an accounting system that small businesses need. The rest just create clutter or disorganization. If you need help, find an accountant who specializes in small businesses, and make sure they have experience in setup and training.
Accounting systems for large enterprises are complex and take teams of accountants to keep them running. As well, all that data compilation takes weeks, if not months, before reports are generated. Small businesses can’t afford the complexity, the teams of accountants or the reporting delay. Fortunately, small businesses have less data, and it can be automated to provide a system that’s simple to use, helpful and easy to understand. Treat your accounting system like any other business function: Get rid of what isn’t needed, and focus on what brings value to your business.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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307a8de6640202d6efca867446c6d1d9
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https://www.forbes.com/sites/forbesfinancecouncil/2021/12/29/tax-planning-in-an-uncertain-year/?sh=2530955062e2
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Tax Planning In An Uncertain Year
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Tax Planning In An Uncertain Year
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a Co-Founder of McGuire Sponsel.
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It is easy to find information on President-elect Joe Biden’s tax plan. At the same time, people generally know where taxes stand with President Trump and the Tax Cuts and Jobs Act of 2107 (TCJA). However, it still can be difficult to know how to move forward. As taxpayers move into tax planning season, these conversations are more critical than ever.
Let’s first review Biden’s tax plan, which includes expansions of tax credits for working families, including an expansion of the Child Tax Credit (CTC), as well as tax credits for health insurance, child care and first-time homebuyers. However, for this discussion, I will concentrate on the proposed changes at the higher end of the income spectrum. The biggest and most well-known portions of the tax plan include an increase in the corporate tax rate from 21% to 28% and an increase in the top marginal tax rate back to 39.6%. Additionally, there would be a repeal of the 199A deduction.
There are also policy positions that target tax breaks for wealthy investors. These include a potential repeal of 1031 like-kind exchanges and elimination of the 754 “step-up.” These are both popular tax breaks for real estate investors. The 1031 exchange program allows investors to defer paying taxes on real estate gains on real estate as long as the investor rolls the investment into a new property of greater or equal value. The 754 step-up allows a partnership to “step up” or “step down” its basis when certain events happen, including when a partner passes away. These positions could drastically impact the economics of certain real estate investments.
At the same time, there are economic forces in play. Economist Stephen Roach has forecast a collapse in the U.S. dollar, as well as a strong chance for a double-dip recession by the end of 2021. He is not alone in this opinion. The National Association for Business Economics (NABE) surveyed its members and found that 80% believed there is a 1-in-4 chance of a double-dip recession. Recession is not the only concern for investors; there is also growing concern of inflation.
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So what does this all mean for tax planning? If tax rates are going to go up, do taxpayers hold onto deductions, or do they maximize deductions for 2020 to increase their cash position going into 2021? The odds of President-elect Biden’s tax plan being implemented need to be considered. While Biden’s plan includes an increase on taxes, he will need the Senate to get those increases passed. Right now, the fate of the Senate lies in two Georgia runoffs. If the Republicans win the runoff, Senate majority leader Mitch McConnell will most likely block any tax increases. If the Democrats can win the runoffs, they would have a 50-50 split in the Senate, with Vice President-elect Kamala Harris being the tie breaker. In the scenario of a 50-50 split, the Democrats would need every vote, including moderates and progressives. This would most likely temper any tax increases. This limits the possibility that Biden’s tax policy could be fully implemented.
The limited prospects of the large tax increases in Biden’s plan means taxpayers should put more emphasis on economic concerns than tax policy. Typically, going into a recession, a business would want to hold cash and, if inflation did occur, invest in commodities or inflation-indexed bonds. Both of these suggest maximizing a cash position now. As companies and individuals begin filing 2020 returns, many will be interested in maximizing deductions to increase their cash position. This can be further maximized for companies experiencing losses in 2020 due to a five-year net operating loss (NOL) carryback allowed for under the CARES Act. Taxpayers can maximize losses in 2020 and carry them back to 2015 to offset taxes paid in earlier years. This also helps hedge against tax increases because the losses can be carried back to 2015 and 2016 when top marginal tax rates were higher.
Going into tax filing season, maximizing deductions will be a critical tax strategy. For many taxpayers, this will be counterintuitive. Typically, when the president-elect has tax policies that include rate increases, the first reaction is to hold onto deductions. However, the economic uncertainty, combined with the limited potential for tax increases, means that many taxpayers will want to strengthen their cash position by maximizing deductions for 2020.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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148fed6d038b27f9fdd67a352c832384
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https://www.forbes.com/sites/forbesfinancecouncil/2021/12/29/when-should-you-hire-an-on-demand-cfo/?utm_content=150276733&utm_medium=social&utm_source=linkedin&hss_channel=lcp-11077990&sh=9f6a210278a6
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When Should You Hire An On-Demand CFO?
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When Should You Hire An On-Demand CFO?
Partner of Eventus Advisory Group, LLC., helping companies meet their CFO, Finance and Accounting needs with fractional teams.
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Certain roles and positions do not require full-time resources. However, there is a tendency to think you can only fill a role with a full-time person. If there is not enough role-related work for that person, you usually end up with one of two suboptimal scenarios:
• You give the person other work and responsibilities outside their core role. This can expand the person’s horizons but can be inefficient because you do not have an expert to do the noncore tasks.
• The person slow-walks the assignments to fit into a full day’s work.
You can avoid these scenarios with well-managed, on-demand staff.
On-Demand Definition
On-demand, fractional and virtual are all terms used for a part-time person and are roughly interchangeable. The concept has been around for decades and has become more prevalent with the wide usage of office technology (e.g., videoconferencing, messaging, collaborative software, etc.). That coupled with a boom in startups and a shrinking of budgets has led to the rise in popularity and acceptance of on-demand resources.
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When Does Full-Time Make Sense?
The easiest case to make for a full-time role is if there is high touch and high frequency. The more a role needs to interact with (touch) other teammates and outside groups, as well as perform a high volume of work (frequency), the more a full-time role makes sense. In my experience, on-demand roles can be 30%-50% cheaper than full-time roles when you take into account benefits, but the economic model breaks down at a certain usage point. When the savings start to disappear, it’s time to evaluate if you should hire someone full time.
Issues With On-Demand
If not managed well, there can be a number of issues with part-time roles. Lack of ownership, poor team connectivity and slow responsiveness are usually the main culprits. The best way to combat these is through scheduling set updates and meetings and setting expectations for responsiveness. Because the on-demand resource won’t be in the office regularly, if ever, setting standard times to connect will put some necessary communication structure in place. Treating the on-demand resource as a regular member of the team will also enhance team connectivity and ownership. Invite them to regular meetings and social events. The best on-demand team members are ones you don’t even realize aren’t full time.
How Does On-Demand Work In Finance?
Finance and accounting are well positioned to benefit from on-demand work. By its nature, most of the work is “lumpy,” which means it’s heavy in specific situations: month close, forecast and budget season, audits, fundraising, and mergers and acquisitions activity. A lot of these activities are timebound to certain times of the month, quarter and year. After they are complete, the workload significantly diminishes. A predictably variable workload is well suited to on-demand because you can scale up or down as needed. You end up avoiding the inefficiency of a full-time person with a light workload.
A good analogy with full-time workers and excess capacity is to think of a factory that can produce 1,000 cars in a day. The most expensive car to produce is the 1,001st car because you need a whole factory to produce just one car. If you can’t find an alternate use for the factory, it’s not worth taking the 1,001st order. Unfortunately, in finance and accounting, you have to “make the 1,001st car” (do the excess work) or you could miss a crucial deadline (e.g., month close).
Creating Your On-Demand Finance And Accounting Setup
While each company is different, four standard finance and accounting roles are common to most companies: CFO, controller, analyst and accountant. Use the following principles when building out your team:
1. Right person, right job, right price: Don’t pay CFO or controller prices when the role can be done by an analyst or an accountant. CFOs and controllers should manage and provide strategy and insight, not line-level work.
2. Architect with senior staff and maintain with junior staff. Have the CFOs build the financial model and the controllers design the processes, and maintain the infrastructure with junior staff supervised by the CFO and controller.
3. Fill in the lower levels with full-time first. The majority of your workload will be high frequency, repetitive tasks. As you expand, your billing and payables needs will grow. These are classic accounting positions that lend themselves to full-time.
4. If you can, separate the CFO and controller positions. They are two separate skill sets, and CFOs usually charge more than controllers.
5. Hire for your specific need, and change up the team for the changing needs. Sometimes you need a CFO with fundraising experience, sometimes with company scaling experience and sometimes with going-public experience. Rarely does one person have all these skills. An on-demand CFO can get you the immediate skill set you need without the issue of hiring for a skill set that will be stale in a year or two.
Parting Thoughts
However you staff your team, with on-demand, full-time or a combination, make sure you get all the key roles filled. If you can afford it, get multiple people so you can set up segregation of duties and proper controls. If you decide to go down the on-demand route, make sure you only hire what you need. Don’t overbuy and hire a CFO when a controller will do.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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5193a8d2cc17b8751b1854b0cda47efc
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https://www.forbes.com/sites/forbesfinancecouncil/2021/12/30/niche-is-the-new-local-expansion-strategies-for-community-banks/
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Niche Is The New Local: Expansion Strategies For Community Banks
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Niche Is The New Local: Expansion Strategies For Community Banks
CEO of Nymbus, collaborating with financial institutions to help them reach new growth opportunities.
Throughout my 25-year career, I have seen firsthand that although sophisticated technology and a clean digital slate can be an advantage, projects are made successful by the people, processes and entrepreneurial spirit driving them. At our company, we understand technology must complement and support how we engage with customers. We’ve seen this holistic approach lead to truly meaningful growth opportunities for banks and credit unions, regardless of where they are in evolving their tech stack and digital presence. Simply put, it’s not all about the tech when it comes to digital growth.
With this combination, strategic options for traditional banks are just as robust as they are for challengers. Challengers do not own digital; there is room for traditional banks in these spaces. In fact, I’d argue traditional banks are better positioned to win with market expansion strategies than pure-play challenger banks. Digital, like physical branches, is effectively another channel to serve more customers and markets. Any financial institution can forge a path to success by pairing digital tools with product and segmentation strategies that meet the range of customer needs.
Niche Is The New Local
To compete with challengers, banks need to quickly identify and take advantage of new growth opportunities and ramp up their go-to-market strategy. The traditional community bank mindset is to think about opportunity within a defined geography. However, the definition of what makes a community has evolved from a geographic term to an identity or affinity to a common cause, brand or goal. I agree wholeheartedly with Jim Marous of The Financial Brand, who said that banks and credit unions must deliver “a seamless digital platform that goes far beyond a miniaturized online banking offering.” Where most organizations miss the mark with their digital strategy is failing to define what segment they are targeting and how to offer a specific, differentiated value proposition to this segment. This can occur when the bank’s niche and the market’s needs do not align or when the product or experience is not a differentiator for consumers.
This new growth model is about enabling experiences for customers who have been underserved and overlooked by traditional banking. Fintechs and challengers have made huge strides here because of how quickly they can respond to new customer behaviors, beliefs and unmet needs. With the number of open banking customers expected to more than double from 18 million in 2019 to 40 million in 2021, though, there is plenty of room for traditional banks to leverage open API technology and plug in to these growth opportunities. To not miss the market, banks must accelerate their approach for launching digital experiences that meet these needs in unique and better ways and must move past innovating to maintain the status quo.
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Successful innovation brings together a portfolio of operations, such as bill payment, card management, core processing and more. In the past, these kinds of changes have required managing many vendors who were focused on implementing their individual product features rather than providing strategic value and accountability. For example, a financial institution may identify an opportunity to serve a niche need for wealth management among existing customers. Instead of simply adding features to a legacy system, the real growth opportunity lies in developing a broader wealth management experience with tools and services specifically designed for that target market, such as concierge advisory services, forecasting tools, chat features and tax tools.
Replace Traditional Vendor Models With True Partnerships
In the existing growth model, massive spend, talent and energy are required to integrate, architect and manage a variety of technology vendors to achieve a single outcome. As a result, the risk lands exclusively on the bank. Vendors deliver a technology stack but are not responsible for ensuring their KPIs are met and the business case is proven. To support a new growth model that prioritizes exceptional experiences for a specific niche of customer, banks need partners that can move at the speed of meaningful change—not just catch a bank up, but move the institution ahead. Banks must hold vendors to a new standard and demand true partnership that focuses on revenue, profitability and reach. Vendors that aim to be partners are not as concerned about feature parity or capabilities. Instead, they focus on functions that drive growth or efficiency and prioritize intentional, impactful innovation.
With the right mindset, resources and partners, any bank or credit union can develop a winning digital strategy that enables it to be competitive in markets previously dominated by challenger banks.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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ae41bf3733ed562b7f5481e5d84ce813
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https://www.forbes.com/sites/forbesfinancecouncil/2021/12/30/why-creative-agencies-fail-and-how-you-can-avoid-their-mistakes/?sh=2ab8e9f24b04
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Why Creative Agencies Fail, And How You Can Avoid Their Mistakes
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Why Creative Agencies Fail, And How You Can Avoid Their Mistakes
Robert is the Founder of Patin & Associates and the Author of the international best-selling book The Agency Blueprint.
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As a business owner, few things are more painful than getting blindsided by financial problems. You can offer outstanding services and still be caught off guard by issues that could have been prevented.
I see the same problems over and over again. Most agencies’ biggest issues boil down to one of three things: poor cash flow, underutilized teams and insufficient data tracking.
Here’s how you can build a more financially agile business and avoid the most common money-sucking traps.
Cash Flow Uh-Ohs
An agency that doesn’t understand its cash flow gets battered by financial shortcomings at the worst possible moments.
Picture this: You’re a creative agency that landed a $1 million contract with a Fortune 500 company. You’ll be paid in full in 12 months. Six months after signing the contract, you run out of cash. If you can fulfill this contract, you still won’t see any revenue for another six months. You’re unable to pay for rent for your facilities, your payroll or the services you need to do your job — ultimately losing your biggest client.
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This is a classic presentation of a poorly managed cash flow. Cash flow is the system by which money flows into and out of an agency’s possession. Money comes in when contracts are fulfilled, and money goes out for expenses like payroll, services, rent, etc.
Secure and agile agencies are masters at managing their cash flow.
The first step to mastering cash flow is understanding your overhead costs. To find your business’s overhead costs, list all the things you pay for routinely, such as rent, payroll, software subscriptions and any other regular expenditures. Add up the annual total, and divide that by your total workdays through the year to calculate your daily cost of doing business, or DCoDB. (DCoDB = total overhead costs/total workdays)
Your DCoDB is critical when invoicing clients or managing your team’s task lists. You and your team must spend some time doing nonbillable work, such as your own marketing, lead management, strategy meetings and the like. Knowing your DCoDB will allow you to know how much billable work needs to be done every day to meet your minimum margins.
To really nail an invoice with a client, you also need to project the resources it will take to accomplish the job they are asking you to do. This will prevent cash flow problems that can leave you paralyzed in the middle of a contract.
A wise business owner meet their prospect to collect details about the prospect's expectations and determine what resources the business can provide. Once the business owner has a complete understanding of the job’s expenses, they invoice the client for a deposit or a startup fee to cover the cost of the resources. This provides the business owner with financial security to ensure they can complete the job.
To avoid pitfalls like the one above, understand your overhead costs before entering negotiations with a client. Know how long it will take for you to fulfill a contract, and understand all the extra expenditures you can expect. Then invoice your client requesting a deposit that will meet the costs you need to cover to do the job through to the end.
Staffing Problems
Countless businesses have an opportunity for more revenue sitting under their noses; it’s inside their own agency.
To make your team more profitable, you need to be tracking your utilization ratio. Your utilization ratio (UR) can be found by dividing your team’s hours of billable work by your team’s total hours at work. (UR% = [billable hours/total hours] x 100). This will give you the necessary information to understand how time is being spent in your business.
While diving into your team’s utilization ratio data, you may find information that will force you to make some difficult decisions. You might discover that two of your team members work on similar projects, but it frequently takes one employee twice as long to do the same tasks. This cost may not be immediately apparent, but inefficient team members stifle your ability to take on more clients. This data will open the door to hard but important conversations about who is right for the team and if you have a higher earning potential by replacing employees or giving employees responsibilities that better fit their skill set.
Data Blindness
If there is one thing I can recommend to help avoid financial pitfalls and accelerate business growth, it is to pay attention to your data. Countless businesses I’ve advised live and die by their financial statements. While there is valuable information in these reports, financial statements are often delivered up to 30 days after the close of the month. That means you could be 30 days late to respond to a critical problem in your cash flow.
Metrics about your profits and losses will give you a glimpse into what might be working or failing in your business, but to understand why those metrics change, you’ll need to be on top of some other critical data reports.
If you are just getting started with choosing the right key performance indicators for your business, start paying attention to these metrics:
Profits and losses:
• Overall average hourly earnings.
• Per-project average hourly earnings.
• Per-project budget versus actual.
• Daily cost of doing business.
• Average accounts receivable aging.
• Average accounts payable aging.
Sales pipeline activity metrics:
• Leads generated.
• Bids sent.
• Proposals sent.
Team management metrics:
• Collective hours per project.
• Your team’s overall utilization ratio.
• Individual team members’ utilization ratios.
While some business owners elect to track these metrics on their own, you can also hire accountants or strategists who can help you organize and interpret your data for the long term. Tracking metrics like these will help you understand what is happening in your business now while you make accurate projections for the future. As your goals change, continue to develop and track more metrics that will help you assess your team’s effectiveness in achieving its goals.
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
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https://www.forbes.com/sites/forbesfinancecouncil/people/barrymccarthy/
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Barry McCarthyForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Barry McCarthyForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/cheriangeorge/
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Cherian GeorgeForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Cherian GeorgeForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/christiankameir1/
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Christian KameirForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Christian KameirForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/codybarbo/
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Cody BarboForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Cody BarboForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/jaredweitz/
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Jared WeitzForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Jared WeitzForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/jefferykendall/
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Jeffery KendallForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Jeffery KendallForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Mark RygelskiForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Mark RygelskiForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/oonarokyta/
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Oona RokytaForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Oona RokytaForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/stacyfrancis/
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Stacy FrancisForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Stacy FrancisForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/tylergallagher1/
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Tyler GallagherForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Tyler GallagherForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbesfinancecouncil/people/weike/
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Wei KeForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Wei KeForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2016/11/08/to-engage-employees-quit-relying-on-your-gut/
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To Engage Employees, Quit Relying On Your Gut
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To Engage Employees, Quit Relying On Your Gut
My gut has been getting an inordinate amount of attention lately. Both my physician and wife continue to stress that I need to get my diet under control and aim for a more toned mid-section. What they fail to realize, however, is that my rotund mid-section has been my professional superpower for years. I've used it to navigate many sticky situations in my chosen field of human resources.
Kidding aside, the unfortunate reality is that, by trusting my gut in managing human resource matters, I wholly neglect alternative tools, namely objective measures that produce quantifiable, defensible, justified data.
Imagine if a CFO were to present financials and supporting metrics to his board that he came up with “from his gut.” Or if a CMO shared that the results of a recent marketing campaign were successful because her gut told her so. There’s no way this type of commentary would satisfy inquiring minds who rely on specific data sets to make strategic decisions about their business.
So if driving strategy “from the gut” isn't acceptable in finance or marketing, why would anyone feel it's acceptable in human resources? It's time for human resources leaders to stop relying on their gut and start relying on objective, timely and thorough data.
Measuring True Engagement
Nowhere is this shift from trusting one’s gut to relying on actual data more important than in measuring employee engagement.
Conversations around employee engagement and workplace culture are pervasive in today’s business environment. Various pieces in newspapers, magazines, journals, articles, podcasts, and the like all talk about the importance of engagement and how increasing it leads to improved business results.
The part of the conversation that is conspicuously missing, however, is how to know whether or not you’re achieving it. How do you know if engagement has improved? And, simply put, how do you measure employee engagement?
It's been generally accepted that we can’t improve what we don’t measure. As it applies to employee engagement, having an idea about an objective current state is paramount to knowing whether engagement-related strategies are having an impact. For example, if I work out for six weeks but see no difference in my strength, I will naturally change my workout strategy. The exercise plan is the strategy and whether I increase my strength is the measure.
Businesses adopt the same process. For instance, sales teams measure improvement by keeping track of new net sales and customer attrition. Operations teams measure implementation timing or the time it takes to answer customer requests. Marketing teams measure sourced/converted leads and costs of new client acquisition. It's time for human resources teams to adopt similar measurement rigor around employee engagement.
Employee engagement is the most important factor driving workplace efficiency and productivity, and engagement surveys are the most effective way to measure it. Choosing a valid engagement survey measurement tool is imperative. When choosing a survey tool, you should ensure that it:
• Evaluates underlying employee psychological conditions of meaning, safety and capacity. This is in contrast to surveys that simply measure employee happiness or satisfaction.
• Accounts for both benchmarking (annual) and pulse (quarterly) surveys so that you can effectively implement an ongoing cadence of measure and improvement.
• Gives you immediate and easily understandable survey reports so that you can clearly gauge your team's engagement and pinpoint where to focus your future efforts to improve it.
If you are “trusting your gut” to determine whether your employees are engaged, it’s time to take the plunge into HR legitimacy and adopt a true engagement measurement cadence. This includes using an engagement survey and gathering data from your employees with an annual benchmarking survey and quarterly check-in surveys. Only then will you have effectively embarked on an engagement-centric measure and improve cadence. Anything less will result in a disservice to your business and your employees and will limit your ability to reap the benefits of an engaged workforce.
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fc266fd2cfdf255c572a97a05ba2beb7
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2016/11/22/tips-and-tactics-for-a-successful-360-degree-feedback-program/
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Tips And Tactics For A Successful 360-Degree Feedback Program
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Tips And Tactics For A Successful 360-Degree Feedback Program
A 360-degree feedback program can be a powerful way of helping employees grow within their organization. Used successfully, it's a tool that increases engagement, identifies training opportunities and helps employees develop in their own role and go on to succeed in a leadership role.
With a 360-degree assessment tool, employees receive anonymous feedback that can come from direct reports, indirect reports, vendors, etc. Only feedback from their supervisor is not anonymous. It’s used to measure performance, personal growth and development, or a combination of the two. In my organization, employees choose their raters, but our HR team reviews them and makes suggestions to ensure they’re the appropriate choices.
In order to have a successful 360-degree feedback program, there are several key things to consider:
Make sure your CEO and senior leaders are on board.
Leaders should understand the process, and ideally, go through it themselves so that they can relay a positive experience to other employees. In my organization, we started a 360-degree feedback program with the chair of the board, then piloted the program for the senior management team.
Ensure that it measures the core competencies needed to succeed.
Create metrics that measure core competencies needed to succeed within your organization and develop a 360-degree program based on that. Our metrics included business acumen, leadership ability, communication skills, etc.
The assessment should also be administered confidentially so that raters feel they can give honest, constructive feedback. One way to ensure confidentiality is by using an outside firm to administer an electronic survey. Be sure to communicate to staff that only HR and the employee being evaluated will see the report.
Train all staff on the program so that the process is understood.
Many organizations make the mistake of rolling out a program without proper training on providing constructive feedback. This can be a devastating setback. I train raters to give constructive feedback designed to help the person being evaluated grow professionally. For example, saying "It would be helpful to have more staff meetings that cover organizational objectives," is much more effective than, "My boss is a horrible communicator." The former is specific and focused on the area that needs work.
Ensure that it's used for the purpose of growth and development, not performance management.
Though there are some organizations that do this, the 360 assessment should occur separately from performance and salary reviews. Having a purely developmental tool that's separate from promotions or raises prevents raters from overinflating feedback.
One way you can emphasize growth and development is by providing post-360 coaching (this can be internally trained HR staff or external coaches) to participants so that feedback can be discussed in a safe environment. This stresses that the goal of the feedback is to identify areas to work on and possible training and growth opportunities.
Some employees may be upset with some of the feedback, and they'll be looking for an opportunity to reflect on areas that need to be worked on. A coach can help them focus on the issues that need to be addressed and guide them through the 360 analysis report. In my experience, an internal HR coach is more effective because they know employees well. But for top executives, an external coach is ideal.
Create an action plan.
Have employees work with their coach to convert the 360 report into an action plan with steps to address the issues. For example, they may have concluded that better communication is needed with direct reports. So part of the action plan may be to take specific training on communication skills or set up more meetings with their team.
As an internal HR coach, I advise employees to train for the areas we agreed need work. I help identify courses and tools that help them achieve their objectives. As a coach, you're not only helping an employee interpret the report, but helping them reflect on development opportunities and things they're great at. It should be a positive experience. Maybe you can even suggest they're ready to aim for that promotion! But above all, "walk the talk." Make sure you participate in your own 360 so you can sing its praises and share how it has helped you.
Following these steps can help you implement and maintain a 360-degree feedback program that truly helps your organization and employees succeed.
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3206d59dbf4a5c53beaf8b743afa3476
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/05/23/can-mindfulness-training-help-organizations-be-more-effective/
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Can Mindfulness Training Help Organizations Be More Effective?
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Can Mindfulness Training Help Organizations Be More Effective?
The concepts of meditation and mindfulness training have been around for centuries, but have recently become an increasingly important part of the business world, primarily as tools for improved focus, creativity and collaboration.
Prominent companies such as Google, Intel, Aetna, General Mills and others are already offering their employees mindfulness training, driven by the belief that this ancient practice can make them more effective. Psychologists around the world use the technique for therapy, as mindfulness can get people to understand and deal with their emotions, ultimately helping them reduce stress and live in the present.
Eleven members of Forbes Human Resources Council discuss the practice below and list some of the main benefits of mindfulness for both employees and their organizations.
Forbes Human Resources Council members discuss what employees and organizations stand to gain from mindfulness training.
1. Achieving Self-Awareness And Compassion
Henry Ford said that the secret to success is getting the other person's point of view. This is the same premise as "self-leadership," whereby ensuring one is centered, at peace, and self-aware generates greater ability to be compassionate and empathetic toward others. Having employees that are good at "mindfulness" could translate into higher levels of employee and customer satisfaction. - Dr. Dale Albrecht, Alonos, Inc.
2. Finding What's Essential
My organization offers employees free access to the Whil mindfulness app. It's done everything, from helping employees find ways to manage stress, to inspiring creative thinking, to changing the way they approach their calendar and communications. Work can feel like sprinting a marathon 24/7, and helping employees be more mindful gets them to quiet the clutter and focus on what's essential. - Jennifer Marszalek, Havas Chicago Village
3. Creating Head Space
Mindfulness creates head space. There is so much stimulation coming at us daily that at some point we overload. Our minds need to release. By providing this training we give our employees the ability to handle the demands of the jobs, manage their personal stress and ultimately gain productivity. You may even be able to tie the training to reductions in sick time and workers’ compensation. - Michele Gonzalez-Pitek, The Unity Council
4. Achieving Greater Collaboration
One goal of mindfulness training is greater collaboration through understanding. When employees are allowed to have time to think deeply about their actions and the actions of those around them, they can find a greater sense of empathy for other individuals and their points of view. Training in mindfulness helps to decrease knee-jerk reactions, thus allowing everyone to work together better. - Ashley Wilczek, Justice AV Solutions
5. Improving The Career Experience
The world of human resources is shifting from compliance and an operational HR focus to improving what it means to work for an employer -- the career experience. Improving the career experience of the workforce includes emotional satisfaction such as pride of work accomplishments, the social purpose of the company mission, etc. If the workforce has high emotional satisfaction they will perform better. - Rick Devine, TalentSky, Inc
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
6. Strengthening Company Culture
When people are more mindful, they are more aware of how others are doing. They can better discern what goals are more important. They can get to the heart of what brings them real joy. All of this contributes to the foundation of a company's values and culture. When the culture is consistent and cohesive, the environment is inherently more attractive and progress becomes easier. - Angela Nguyen, Ad Exchange Group
7. Listening To Understand, Not To Respond
Mindfulness brings objectivity back to the equation, especially when there is interpersonal conflict in the work environment. Being mindful allows each person to step back and see with the "mind's eye" versus personalizing the disagreement. In turn, it allows you to mentally and physically step back so that the focus is on listening to understand instead of listening to respond. - Bridgette Wilder, Media Fusion
8. Allowing Employees To Decompress
The biggest gain would be stress relief, leading to a happier and more productive workforce. In today’s corporate culture, there’s often an emphasis placed on working harder, not smarter. However, long hours and stressful conditions can lead to burnout. Through stress-relieving activities such as meditation or yoga, mindfulness programs can improve employee focus, creativity and team morale. - John Feldmann, Insperity
9. Sharpening Employees' Focus
Mindfulness is both a state of mind and a practice many employers are implementing to get more focus out of their employees. With mindfulness training, you are sharpening your employees' comprehension and helping them engross what is going on around them. Mindfulness can lead to lower stress, better decision-making, more creativity and improved employee performance. - Tiffany Servatius, Scott's Marketplace
10. Being Fully Present
In a world that highly values multitasking, we often struggle to be fully present. Moments of “mindfulness” help us reset our thoughts and refocus our attention, thus allowing us to be fully engaged with the present moment. Being present improves team communications, the flow of ideas and the outcomes of meetings, which translates into an improved work environment and better work products. - Meg Battle, Rabin Martin
11. Getting A Modicum Of Control In The Uncontrollable
In an always-on world where stress levels are high and the to-do list is more often growing than shrinking, employees are taxed and lack control. Enter mindfulness to help people control their reactions to external conditions, to remain calm and reduce stress, to stay focused and produce. The mind and body benefits make mindfulness training a must-have for any high-performing organization. - Sara Whitman, Peppercomm
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96570ef89c9d670edf77edda38c74114
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/06/06/what-should-employers-be-aware-of-when-requesting-w-2-forms-from-job-applicants/?sh=3acff84264a8
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What Should Employers Be Aware Of When Requesting W-2 Forms From Job Applicants?
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What Should Employers Be Aware Of When Requesting W-2 Forms From Job Applicants?
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When hiring for open positions, employers are tasked with researching applicants’ backgrounds in order to determine if they’re qualified for the position. This can pose a number of challenges, particularly if a candidate’s job history involves multiple positions, gaps of unemployment or false information.
One method some employers resort to in order to gain an accurate picture of a prospective employee’s background is requesting a W-2 form, sometimes from multiple years. While this document reflects the applicant’s employer and the wages, tips and other compensation paid for a calendar year, it also provides employers with sensitive candidate information that could expose them to discrimination claims based on decisions made with this knowledge.
Let’s take a closer look at the controversy surrounding the request of W-2 forms from job applicants and what employers can do to minimize the risk associated with this practice.
A Question Of Legality
There are a number of reasons why employers may choose to request a W-2 form during the recruiting process. For most, it’s a direct way to confirm applicants’ previous employment and wage data, which could prove difficult for candidates whose previous employers are no longer in business. While there are no federal laws prohibiting requesting W-2s, there are states that have outlawed the practice. Rhode Island, for example, is one such state that forbids employers from requesting any tax or income information during the job application process.
In a similar effort to promote wage equity, Massachusetts recently became the first state to outlaw the practice of requesting salary history from job prospects. Philadelphia became the first city to do the same, followed shortly after by New York City. While Philadelphia’s law was scheduled to take effect May 23, 2017, it’s currently on hold pending a challenge in the courts. Other states, such as California and New York, are considering similar legislation, while a new bill soon to be introduced would make it illegal nationwide to request salary information before a conditional job offer is made.
Perpetuating The Pay Gap
While many employers simply request a W-2 form in order to determine if an applicant’s salary history is in line with that of the job being offered, some base a new employee’s starting salary on their previous salary, as opposed to basing it solely on the job’s requirements and the employee’s qualifications. Because of this, employees who began their career with a low salary may find that low salary follows them throughout their career, while other employees with comparable skill sets may be earning much higher salaries in similar or identical roles.
Since women currently earn an average of only 83% of what men earn doing the same work, employers who request a W-2 form in order to determine an employee’s salary may force the cycle of pay disparity to continue. Those who pay male and female employees disproportionately based on their previous salaries, despite similar qualifications, could be subject to discrimination charges under the Equal Pay Act of 1963 or Title VII.
Accessing Protected Information
The sensitivity of the information contained in the W-2 form can also put employers at risk. If not handled with care, job applicants’ social security numbers could be subject to identity theft. Employers must have reasonable procedures to safeguard social security numbers. If an employer’s system is breached, that employer may have an obligation under state law to notify the affected individuals.
Another issue for employers is the risk of discrimination claims. Tax documents contain information related to a candidate’s protected characteristics as outlined by the Equal Employment Opportunity Commission. Dependent care benefits can be used by employers to discriminate against those with children without having to ask about this subject directly. Simply having access to the sensitive information disclosed in tax documents could open employers up to discrimination claims from disqualified job applicants.
Avoiding The Risks
Because some applicants may have worked for companies that are no longer in business, requesting a W-2 may be a necessity in order to verify past employers. In this case, there are a number of things employers can do to mitigate the risks associated with exposure to the information the forms contain.
Under no circumstances should employers request a W-2 where it’s illegal to do so. Hiring managers and recruiters must stay current on laws involving applicants’ tax information and salary history in the states in which they do business. If possible, employers should wait until after a contingent offer of employment is made to request a W-2 form. When this is not an option, they should allow candidates to black out sensitive information such as their protected characteristics or salary history before submitting it. Employers requesting a W-2 from an applicant must make sure to do so from all applicants for a particular position. Failure to maintain a uniform screening process may be a sign an employer is targeting certain candidates based on a protected class and using tax forms as an alternate method of gaining access to sensitive information, again leaving them vulnerable to claims of discrimination. Some applicants may consider a request for a W-2 as an invasion of privacy, and that the employer doesn’t trust them to be truthful about their past employment. Employers must emphasize that this request is being made of all applicants, and only for employer verification.
The main issue facing employers that require W-2s as part of their hiring process is that there’s a risk some hiring managers will use the information in a discriminatory fashion, or that they are requesting wage information that may violate state and local laws, depending on the jurisdiction. While some employers will use it to simply confirm details of the applicant’s employment history, others may take advantage of protected candidate information, allowing them to make illegal hiring decisions that would be immediately identified as discriminatory were the information requested directly. For this reason, employers must be transparent with candidates as to why they require a W-2 form in the job application process and make every effort to remain compliant with anti-discrimination laws in the states in which they’re hiring.
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906bd4c30be22f3c5df7cc8c9dd00b24
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/06/15/dont-forget-the-ship-in-leadership-four-keys-to-becoming-an-effective-leader/
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Don't Forget The 'Ship' In Leadership: Four Keys To Becoming An Effective Leader
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Don't Forget The 'Ship' In Leadership: Four Keys To Becoming An Effective Leader
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Leadership is a broad topic that is arguably challenging to define and more of a journey than a destination. Although complex, most will agree that leadership possesses four core elements: a leader, follower(s), the presence of influence, and an objective. People strive to be great leaders, but they aren't always able to describe what it means to become one or how to identify when they have.
With an extensive number of variables and characteristics associated with leadership, it's important to understand that the foundational base of leadership is the relationship between a leader and follower(s). Undeniably, this relationship is the conduit for communication, management of perceptions, motivation, and willingness to collaborate. The leader-follower relationship is the “ship” in leadership. The problem is that the relationship value component is often overlooked or undervalued when leaders are faced with competing priorities.
Recent research shows that the quality of the leader-follower relationship significantly influences the follower(s) performance and commitment. The quality of the relationships between you (the leader) and your followers is based on individual perceptions. At times, your perspective may not align with the perspective of individuals on your team. This lack of alignment fosters a potential for stress on the relationship, decreased leader effectiveness, communication challenges, and/or may result in feelings of frustration or resentment by the follower(s). However, if managed effectively, differences in perspectives can be leveraged to enhance problem-solving, creativity, and ultimately increase an organization’s competitive advantage.
So how do you navigate leader-follower relationships? According to Harvard Business Review article "Primal Leadership: The Hidden Driver of Great Performance," a leader’s principal responsibility is effectively managing emotions. Your mood as a leader has a profound effect on the culture and relationship between you and your team; therefore, your ability to effectively manage your emotions and the emotions of others is critical to the success of the business.
Following Daniel Goleman’s model from his book, Emotional Intelligence, emotional intelligence is composed of four essential elements: self-awareness, social awareness, self-management and relationship management.
Although the concepts are simple, the execution of these elements quickly becomes complicated. Here are four tips on how to enhance your emotional intelligence as a leader and sustain healthy leadership relationships.
1. Self-Awareness
Monitor your personal feelings and emotions by asking yourself, "How do I feel right now? Am I happy, sad, mad, frustrated, or feeling a different emotion?" Then ask yourself, "Why do I feel this way?" The more often you check the status of your emotions and identify the source or trigger, the higher your self-awareness will increase.
When first learning to enhance self-awareness, I recommend that you keep a journal of your emotions throughout the day. This will assist you in the process of routinely checking the status of your emotions and highlighting any emotional patterns and/or correlations with specific events.
Mastering self-awareness is dependent on your ability to identify your mood, feelings, and emotions in the present moment, then connect those emotions to a source or trigger.
2. Social Awareness
Observe and identify the emotions and feelings of your team members as you engage with them. Watch their body language, listen closely to what they are saying, and monitor for changes in emotions and mood. Be conscious of the fact that the words people communicate will not always match their body language. When this occurs, ask validating questions to confirm the individual’s true perspective. You may not always get a clear answer, but you will often discover there is more to consider than the initial answer.
3. Self-Management
You have the power to make situations better or worse in every interaction; there is always something you can say to dampen or improve it. Notice that I did not say, “solve the problem” — just improve the situation.
Providing a proper response is easy during the good times, but it can be infinitely more difficult during times of stress or conflict. In the midst of stressful or intense situations, take a deep breath and wait five seconds before responding. This mental timeout will allow your brain time to logically process the information and increase the probability that you will respond rationally. In addition, prior to responding, think about what response will create the best result and avoid responding with charged emotions, retaliation, insult and or an attempt to seek justice.
4. Relationship Management
A leader skilled in relationship management is similar to a surgeon who can navigate multiple changing variables while constructing positive changes. The relationship between you and your team is delicate, and your ability to apply precision to the navigation and management of emotions increases your potential for leadership effectiveness.
Mistakes are easy to make; so how do you give direction, assign difficult tasks, provide feedback, hold people accountable and maintain trust? Well, it’s not simple, and there is no single magic bullet for success, but, there are things you can do to position yourself for success. Be honest, concise, consistent and clear with your communication. Before criticizing someone’s performance, reflect on whether you provided clear and specific guidance.
Maintain an unyielding, ethical commitment to make the right decision, even if it costs you personally. Invest in the success of others. Provide your team members one-on-one support, spend time with them, listen to their ideas and demonstrate an authentic interest in them as people. Unfortunately, not all leaders treat and engage their team members like they are on the same team. What would your team members say if you asked them, "Do I support you as a leader?"
The pursuit of leadership excellence is an ongoing journey that requires effort, an open-mind, self-reflection, and a willingness to receive constructive feedback. Leaders who take the time to establish and foster authentic and non-threatening relationships with team members will increase their leadership effectiveness and organizational performance.
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062cfa445684074d19c2a81a8ab16730
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/10/19/11-ways-recruiters-can-attract-millennial-and-gen-z-job-candidates/
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11 Ways Recruiters Can Attract Millennial And Gen Z Job Candidates
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11 Ways Recruiters Can Attract Millennial And Gen Z Job Candidates
With millennials and Gen Z making up almost half of the population, according to a report by Nielsen, targeting this group for your company’s open positions is more of a requirement than ever before. This large and powerful group has a different outlook on the job market than their predecessors and requires a little more effort to gain their attention.
Recruiting this population as potential job candidates takes a different approach that many recruiters may not have considered until now. This demographic is interested in benefits, flexibility, and time off. They are social media savvy and don’t communicate in traditional methods that may have gotten you by in the past.
Below, 11 members of Forbes Human Resources Council share the one change they believe recruiters should make in order to appeal to and interact with millennial and Gen Z job candidates. Here is what they had to say:
Forbes HR Council members talk talent. All photos courtesy of Forbes Councils members.
1. Make Them See Who They Can Be
Millennials are about experience, growth and self-discovery. Benefits and perks are all good and appreciated, but if a company cannot help them learn something about themselves, create a community that supports them, validate their ability to make an impact or align with their values, the chances of getting them to stay are slim. This generation was raised to go with what feels right to them. - Angela Nguyen, Ad Exchange Group
2. Drop The Gimmicks
Remember, we (HR millennial here!) are dynamic, with interests beyond social media and fun at work. For example, in healthcare recruiting, I can't compete with some perks from other industries. So, I stress the everyday-is-community-service-day feel to appeal to the corporate volunteerism spirit of millennials and Gen Z. Do your research. Be honest about what your company has to offer. Repeat. - Stephanie Shuler, Charlotte Eye Ear Nose & Throat Associates, P.A. (CEENTA)
3. Follow Candidates, Limit Emails
There is too much emphasis today on sending emails to prospective candidates and awaiting responses. The better method is to encourage people to follow the company’s roles at the skill level, comparing their skills to company demand, in real time. This should be all roles, not just those open for recruiting, so people can build their career with insight into the changing employment landscape. - Rick Devine, TalentSky, Inc
4. Show Genuine Interest
Millennial and Gen Z candidates want to work for an employer that cares about them and their well-being. Recruiters should explain the company's employee value proposition and culture. Recruiters should strive to develop a good long-term relationship with candidates. Recruiters should also address candidates' concerns and constantly follow up with these candidates, even when they become employees. - Ochuko Dasimaka, Career Heights Consulting, Inc.
5. Respect And Welcome The Generational Difference
Understand that the concept of employee value proposition goes beyond traditional perks and benefits for them. Use a lot of social media to attract them, emphasize both the challenging and fun parts of working at your organization, and acknowledge the generational difference with respect and openness. Be friendly rather than interrogative while conversing with them and show genuine interest in what they have to offer. - Ekta Vyas, Ph.D, Stanford Children's Health
6. Share The Non-Tangibles
Millennials and Gen Z candidates value the non-tangibles as much, if not more than the tangibles, e.g. compensation. Expressing the employer's flexible work policy, maintaining a strong focus on an inclusive culture, offering opportunities for growth, etc. will attract top talent. - Brooke Peterson, Causely
7. Get Social
Today, social media platforms dominate the lives of millennials and Gen Z potential candidates. Recruiters need to get social by staying current with the trends, and using the platforms to transition traditional recruitment methods into interactive tools. The focus should be on lifestyle, relationships and opportunity for an interesting and exciting career. - LeRae Jacob, Creative Door
8. Be Efficient, Communicate Constantly
Millennials and Gen Z thrive in technological and innovative environments. These candidates are high in demand, therefore it is important the interview process is efficient and recruiters have consistent communication with them. These individuals want to jump right into working, therefore onboarding should be short and delivered electronically. - Tiffany Servatius, Scott's Marketplace
9. Talk Beyond The Tasks
Today's employees want to do much more than the daily job requirements. They are interested in the company culture, and how they can be part of the larger work environment. They want to understand how to share ideas, network with colleagues, learn new skills and be part of the greater good. To keep them interested, talk about how they will be challenged by the work and hone new skills. - Meg Battle, Rabin Martin
10. Make It Fun
Candidates today want more than a stale job description. They want to feel a connection with the company, values and mission. We have found success by creating short video job postings showing where they will be working and having the hiring manager talk about the role. This engages candidates and gives them a real look into your culture and the job. - Lisa Whealon, GL group, Inc.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
11. Provide Immediate Gratification
We realize that millennials and Gen Z desire immediate gratification. In addition, the top-notch candidates have options, so don’t make them wait. Optimize their experience with a career site that is mobile-friendly, and be sure to provide timely responses and feedback. Above all, make the candidate experience for those who aren’t hired just as good, because they may be your future hires. - John Feldmann, Insperity
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f5e5f69aca7e345d607ff4aa6fb78e38
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/10/26/the-2018-human-resources-trends-to-keep-on-your-radar/
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The 2018 Human Resources Trends To Keep On Your Radar
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The 2018 Human Resources Trends To Keep On Your Radar
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In 2017, the human resources industry has done a lot of soul searching about the way culture and performance issues were handled within companies. In 2018, another big internal shift is coming, but this time the focus is on technology: how it can be used to find people, connect people, engage people, even replace people — and what to do when that happens. For years, technology has acted as a tool to help with day-to-day tasks, but the focus in 2018 will be technology as a way of life in the workplace. These are the five biggest trends I see coming to HR in the next year, and they all involve technology.
1. Passive candidates: Headhunting of passive candidates has always been part of the recruitment process. But these days, it’s much different from simply sifting through resumes on a career website. The advent of social media has made getting in touch with candidates easier than ever before. Similarly, talent pools can now be identified simply by searching hashtags, sub-forums or other online communication methods. By engaging these types of candidates — either in groups or individually depending on the platform — recruiters can get a sense of what they’re looking for and if they’d be willing to make a change in their careers.
2. A remote workforce: Working virtually — at home, at a coffee shop or anywhere else there’s Wi-Fi — is a growing trend in the United States. In the past two decades, the volume of employees who have worked at least partially by telecommuting has quadrupled and now stands at 37%. A significant driver of this stems from VPN technology making it easy to access work systems from nearly any computer. This makes it possible to recruit from almost anywhere in the world, and it’s no surprise that many startups are built with remote teams. From a corporate perspective, it opens up the pool of candidates, and by offering remote work capabilities, it’s a way to retain current employees and boost job satisfaction through a better work-life balance. With video conferencing and collaboration tools evolving every year, this trend will only continue on the upswing.
3. Blind hiring: The tech industry, and Silicon Valley in particular, was rocked in 2017 by accusations and counter-claims of bias in the workforce. The easiest way to minimize any controversy? Make hiring a blind process. In standard screening and interviewing, unconscious bias easily becomes part of the equation by including any data that may give away key parts of a candidate’s background: gender, age, race, even alma mater. By making hiring a blind process — that is, stripping away any info on a resume that may reveal demographic data — the first wave of screening can be done based purely on abilities and achievements. There’s even recruiting software built to automate screening and anonymize candidates. This allows for a more diverse workforce built on merit, not any buddy-buddy vibes picked up during the early interview process.
4. Gamification: Gamification is a technique that has been working its way into all different types of industries. The idea of turning engagement into a competitive game format works for a range of purposes, whether it’s marketing or teaching or hiring. In business, gamification can be used as a candidate screener, turning tests of critical skill sets and cognitive abilities into fun engagement. With the advent of smartphone apps, it’s possible to have a user base play recruitment games while under-the-hood algorithms track critical analytics. The result benefits both candidates and employers: Candidates have a fun reason to try to increase their scores while showing off to potential employers; Hiring managers have an ocean of data that can help predict the strengths and weaknesses of candidates — and even find diamonds in the rough.
5. Future-proofing employees: While political talking points often emphasize the return of jobs in manufacturing and manual labor, the cold hard truth is that those positions are going away because of evolving technology. In many cases, artificial intelligence is replacing repeatable tasks while predictive analytics is replacing certain levels of management and decision making. It goes beyond manufacturing — travel agents, flight attendants and more are all vulnerable. Where does this leave the human work force? In 2018, it’s up to companies to look at their human resources and determine the best way to pivot them into future positions. This means identifying the staff who are willing to embrace different aspects of jobs: management, problem solving, troubleshooting and other areas that require a human element. By planning ahead, this will save the company money as it transitions to cheaper computer-driven labor while maximizing the human potential already on the payroll.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
With 2018 rapidly approaching, it’s clear that these technology-driven trends will impact the HR industry sooner rather than later. Many of these are already available and will simply grow in industry presence; the smart thing is to invest time and resources now to get ahead of the game. Whether it’s identifying internal positions vulnerable to AI replacement or exploring social media-enabled methods of finding passive candidates, all technology-driven changes feature some level of learning curve. Thus, even before the calendar turns to 2018, it’s a worthwhile goal to start preparing for the future today.
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cb46001cac2937077c1c9905ff8d9e68
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2017/12/13/human-resources-role-in-sexual-harassment-complaints/
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Human Resources' Role In Sexual Harassment Complaints
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Human Resources' Role In Sexual Harassment Complaints
Pexels Pexels
With all of the recent news stories about male executives being fired or stepping down from their high-powered positions due to sexual harassment complaints, one has to wonder what was the role of human resources in the process.
As a HR professional with over 20 years of experience, I could no longer remain silent on this issue. I can attest to the fact I have managed more than one sexual harassment claim in my career. I can also attest to the fact that there are times when human resources is challenged with how to effectively and efficiently handle these claims when they cross our desk. Most organizations have a zero-tolerance policy for harassment of any kind in the workplace, but HR cannot properly manage complaints if they are never reported. Unfortunately, more times than not, these incidences go unreported due to fear — fear of being fired, retaliated against, considered a troublemaker, embarrassed or not taken seriously.
On behalf of my HR colleagues, I want to take a pause and personally apologize to ANY employee who has ever felt their company’s HR representative failed them when they came forward to file a harassment complaint of any kind. I’m also proud of all of the women who have recently come forward with their complaints, regardless of any consequences they may have feared. I have experienced my own #metoo in the workplace on more than one occasion and shrugged it off, did not report it and went about my day. So I can empathize with the experiences of the women coming forward in recent months. I, too, carried my own set of fears at the time.
Human resources professionals are the protectors of the company culture and the purveyors of the corporate conscious. Each employee’s life cycle begins and ends in the HR department. If we are doing a good job overseeing the culture and consciousness of the organization, ideally, we should not have employees in our office filing complaints during their employment with the company.
It is our duty to take every complaint seriously, regardless of the source. Let’s face it, we have probably encountered one or two employees in our career who may have had a habit of visiting the HR department to discuss their displeasure about matters outside of our immediate area of responsibility (i.e., office temperature or type of toilet tissue in the restroom). However, our role in those rare situations is to either redirect the employee to the appropriate department or help them strategize a reasonable solution. As Stephen Covey says, “Begin with the end in mind,” so consider the experience you want the employee to have by the time they leave your office. Put yourself on the other side of your desk. People just want to feel like they are being heard. If HR professionals can manage that successfully, in my experience, most complaints are resolved rather quickly.
So, what can we do going forward as HR professionals and women in the workplace?
First and foremost, there needs to be an increase in diversity in positions of power and influence in all industries. I hope what we are experiencing now is a shift in that paradigm with the recent removal of several leaders, with probably more to come in the near future. HR professionals are in a great position to lead the conversations around diversity, inclusion and harassment of all types in the workplace. The efforts require going above and beyond the standard annual training, which has no real accountability for sustained learning. Honest and open dialogue between male and female workers, mediated by HR professionals, should occur immediately, without concerns of being classified as “too sensitive” or “locker room talk.”
Let’s take this a bit further. Here are some simple action steps everyone, but especially men in the workplace, can take to continue to help move the dial on sexual harassment:
• Ask the women you care about in your life if they have ever encountered workplace harassment. Listen for signs of how the experience may have impacted their performance, self-esteem or career path, and ask for recommendations on how you can do better in your workplace.
• Speak up! If you hear a male counterpart make a disrespectful, disparaging or insensitive comment about a female co-worker, address it in the moment. Do not laugh, join in on the joke, nod your head in agreement or remain silent. Silence equates to agreement. Tell your co-worker the comment is not appropriate and he needs to reconsider how he views women in the workplace.
• Be a champion. If you have knowledge a female employee is being treated unfairly, such as parity in compensation, promotion opportunities or having her voice heard in team meetings, speak to someone who can make a difference. Use your voice and power of influence whenever possible, without concern for how you may be perceived by your male counterparts.
• Lastly, just do the right thing. It’s really that simple.
As women, we have been programmed since childhood to make excuses for certain behavior from males, and it has carried over into the workplace between women and men. Fortunately, women are now standing together and expressing that this juvenile behavior is no longer acceptable, and they will not operate out of fear any longer. I commend my fellow HR colleagues who are on the forefront of this much-needed change, and I commend my fellow women for coming together and standing up to this unfair treatment in the workplace. I look forward to seeing more women and diverse leaders rise up.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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b167fa02344e4530c605ae144e17ce0a
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/03/09/drive-engagement-and-impact-by-aligning-learning-to-business-objectives/
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Drive Engagement And Impact By Aligning Learning To Business Objectives
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Drive Engagement And Impact By Aligning Learning To Business Objectives
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Last year, 27% of companies surveyed were spending more on training and development, and more than half were using eLearning or online training. And yet, 92% of executives can’t see the return on their investment in employee learning on their bottom line.
Tying a company’s investment in employee education to business objectives is critical to demonstrating its value. In the absence of a connection between the investment a company makes on learning initiatives and the impact it will have on the business, education becomes a line item that can easily be cut from operating budgets. Leaders responsible for driving the learning strategy within a large enterprise need to look at the skills employees need to develop that lead to a business achieving its corporate objectives.
Having recently worked for the only learning platform built for business performance, I know that you need to start with the business problem you are trying to solve when determining your learning priorities. Here are three ways you can ensure employee learning is having a positive impact on your organization’s operations and goals.
Be Strategic
Talk to C-suite executives. Start with the outcomes your business wants to achieve. Do you need to reduce safety mishaps? Increase sales? What do your employees need to do to make that happen? Once you know the behaviors they need to exhibit, build learning that will support those behavior changes. Base your learning on business outcomes and performance, and use modern learning analytics to track, measure and eventually demonstrate employee knowledge, behavior and confidence. With advanced tracking, you will immediately be able to demonstrate value to the company.
Be Agile
Deloitte’s Human Capital Trends report calls continuous employee learning "critical for business success." This is a stunning admission in a modern business world that is in a near-constant state of rapid change. Agility and the ability to respond quickly to changing learning needs can make HR invaluable to a company. This won’t work with traditional methods of learning or antiquated tools, which are by their nature more laborious and exceedingly resistant to sudden changes in course.
Agile learning involves a rethink, a move away from the one-and-done approach to learning and toward an “always on” vehicle for learning that can quickly pivot and adapt to meet changing needs. Mobile learning is always on and accessible, while microlearning allows for short bursts of learning that are easily and quickly digested and can be quickly pivoted to address new topics and purposes. Leverage the kind of technology that your people are already using: knowledge databases, for example, that put information directly into your employees’ hands in the moment of need just as Google and other search engines do for other parts of their lives.
Be Engaging
A more engaged workforce drives business results, and learning is one of the best ways to engage your employees. In fact, it might be the best: The "ability to learn and progress" is key to an employer's brand among millennials, according to a Deloitte analysis of Glassdoor data. However, only a third of millennials said their skills are being put to good use at work, and 42% said they were likely to leave their organizations because they are "not learning fast enough."
Microlearning and mobile learning can provide that speed, but there is a lot more you can do to engage your workforce in both learning and your business. Gamification is fun, and it incentivizes learning by leveraging natural motivators such as competition. It also lends itself well to both microlearning and mobile learning. Technology has allowed adaptive learning to advance to the point where it not only adapts learning to individual needs but does so automatically. More importantly, modern technologies have the capability to identify knowledge gaps in individual learners and seamlessly adapt learning to address these gaps.
Demonstrating ROI for learning, and for HR, demands creating learning that is strategic, agile and engaging. Meet your workers where they live, leverage the kind of technologies they are already familiar with and provide content that is driven by the outcomes your business wants to achieve. When employees are getting the kind of learning they need and want and, more importantly, your business is getting the results it needs, the value of the investment becomes obvious to everyone.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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162c348d875b7ab70fba0661388a1aeb
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/03/28/need-to-attract-top-talent-try-these-12-smart-hiring-strategies/
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Need To Attract Top Talent? Try These 12 Smart Hiring Strategies
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Need To Attract Top Talent? Try These 12 Smart Hiring Strategies
The current job market swings heavily in favor of candidates. Top-tier professionals know how in-demand they are, and if you don't market yourself properly as an employer, you might lose your dream employee to a competitor.
The secret to attracting high-quality applicants is differentiating yourself from other industry players, and showing top talent how joining your company can help them reach their career goals. We asked members of Forbes Human Resources Council how to make your employer brand stand out. Their best answers are below.
HR professionals talk tips. All photos courtesy of Forbes Councils members.
1. Offer Clarity, Conviction And Career Opportunities
Attracting top talent is done by communicating what we all want in a new job — clarity about what our mission is, to work with others who share the conviction that what the company is doing matters and to know that new experiences and career options abound. Find ways to authentically express these things through video, robust career pages and personal communications from senior leaders. - Stacey Browning, Paycor
2. Be Flexible And Unique
We are shifting into an era where the "traditional" office environment and compensation models are no longer as appealing as they used to be. Show candidates that you value work-life balance and individuality. Whether is the option to work some days from home or allowing employees to move about an open office environment, give them some flexibility. - Tiffany Servatius, Scott's Marketplace
3. Use Your Employees As Brand Ambassadors
Your business leaders and teammates can significantly impact your ability to attract top talent by creating talent ambassador LinkedIn profiles, reaching out to high potential candidates, taking time to conduct reviews on platforms such as Glassdoor and Indeed and helping generate content that is rich in the organization's culture. - Philip Dana, Bridgepoint Education
4. Know Your Employer Value Proposition
An organization looking to stand out from competitors when seeking to attract top talent must be able to articulate and share how the employee value proposition is lived every day, along with the vision and mission of the organization. Just as an organization has a brand for the external market, there needs to be an employee brand that can effectively communicate the employee experience. - Sherry Martin, Denver Public Schools
5. Know Your Target Audience Really Well
Recruiting is selling. Identify your our target audience and understand your organization's selling points. What do we have to offer, and who would benefit from what we can offer? With these details, you can place your company brand in the center of your target audience. Advertise your organization's culture, and echo your talent's needs, skills and attitudes as it relates to your brand. - Tasha Bell, Talbert House
6. Understand The Full Candidate Experience And Life Cycle
Your organization's reputation permeates candidate decisions. The candidate experience is a continuum that begins prior to the candidate contemplating a role with your organization (brand awareness) and extends well beyond the time they may leave. Learn from brand and marketing colleagues to better position yourself in the market to have the greatest impact. - John Sigmon, johnsigmon.com
7. Put Your People First
When you truly care for your employees, they’ll care for one another, your customers and the community. Go beyond amazing benefits. Foster a workplace that thrives on trust and respect for all individuals — and protect that culture every day. Word will get out. Your people will talk, and they’ll refer like-minded, talented people who believe in your culture and your mission. - Vivian Maza, ultimatesoftware.com
8. Identify And Articulate Your Purpose
Companies with purpose attract and retain better talent. Finding out your "why" translates into your unique value proposition to candidates (and employees). This is not a marketing statement, a mission (where you are going) or vision (where you would like to be). Purpose defines why you do what you do, which motivates candidates to join the charge and apply. - Stacie Mallen, CampusLogic
9. Use Social Media To Your Advantage
With social media, organizations now have an opportunity to be visible to many. Candidates are doing their research prior to accepting interviews. They want to know what your current employees are saying about you. Brand your page with more employee-related events. Take control of your company's image and become a people-focused employer and you will automatically attract top talent. - Charece Newell, MSILR, sHRBP, Sunspire Health
10. Invest In Education
We’ve found high-performing people see learning opportunities as an integral component that contributes to their workplace engagement. Smart employers must develop engaging new experiences for their top talent. Tailoring learning initiatives to career exploration and growth can make employees feel personally valued, increasing their loyalty if other firms come calling. - Lisa Sterling, Ceridian
11. Validate Your Talent Acquisition Strategy
Before recruiting, organizations should validate that their talent acquisition strategy is designed to attract the right talent. A great way to do that is to get input from current high performers about what attracted them to the organization and their role. Also, ensure that your hiring process is not a barrier to making timely hiring decisions; otherwise, applicants will lose interest. - Bridgette Wilder, Wilder HR Management & EEO Consulting
12. Be Authentic
Don't put on a show to snag a candidate. It's critical the candidate knows exactly what he or she is walking into and can make a smart decision about the future. The only way to know if it is a fit is for both parties to have open eyes and clarity. - Sara Whitman, Peppercomm
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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366c23ed639265249783e711bc8a5bd5
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/04/13/10-costly-mistakes-your-hr-department-should-avoid/
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10 Costly Mistakes Your HR Department Should Avoid
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10 Costly Mistakes Your HR Department Should Avoid
If employees are the lifeblood of an organization, the human resources department is its central nervous system. HR professionals connect workers across every department with the tools and training they need to function properly, and ultimately have a hand in all the activities of the company.
Because HR plays such a crucial role, any mistakes made in this department have the potential to be high-impact. We asked 10 members of Forbes Human Resources Council about common but costly HR missteps. Here are their thoughts, along with what can be done to prevent those mistakes.
HR pros share their opinions. All photos courtesy of Forbes Councils members.
1. Turning A Blind Eye To Employee-Reported Issues
Employees come to HR with problems, only to have them swept under the rug. When things like this happen, it leads to even more problems, like turmoil among team members, hostility, turnover, etc. One key thing HR can do is show that they actually care. Sympathize with the employee and lay out steps that are going to be taken to get to the solution. - Evan Lassiter, Cloudreach
2. Relying Solely On The Interview For Hiring
In HR, we are conditioned to thinking the interview is the single event to make a hiring decision. Candidates can be really good at "selling" us when we rely only on this step. We spend a lot of time, money and energy hiring someone for them to come on and be the wrong fit. Incorporating more culture-based steps in your interview process is key to avoiding a headache down the road. - Lisa Whealon, GL Group, Inc.
3. An Unstructured Salary Increase Plan
Be aware of how you structure your performance reviews and associated salary increases from day one. If your employees notice a trend in their salary increase, it may become an expectation for every following year. Companies can prevent this mistake by creating salary caps for each position, and identifying both quantitative and qualitative measurements that would warrant a salary increase. - Tiffany Servatius, Scott's Marketplace
4. Subpar Management Training
Managers are on the front lines of the business. HR's most costly mistake is to put untrained managers into the processes. An illegal question to a potential candidate, a manager who can't flex their management style according to employee needs, a set of salary reviews that clearly skew against a protected class — all these can be done out of ignorance and put the organization at risk. - Pamela Potts, neosystemscorp.com
5. Punishment-Based Disciplinary Actions
The nature of discipline is usually rooted in punishment or correction, which often triggers a fear response. Fearful employees can counter with resistance and escalate a situation that may result in a lawsuit. To prevent mistakes and escalation, HR professionals can start discipline conversations by asking questions, reflecting on what they hear and asking permission before giving feedback. - Jeff Buenrostro, Metric Theory
6. Making Bad Hires
Research shows that replacing a bad hire can cost organizations a significant amount of money. Very few companies experience a 100% retention rate and taking chances is woven into our fabric. Look for individuals who fit very well within your current culture, who possess the cognitive ability to process the rapidly developing knowledge curve and who have the intuitive ability to navigate change. - John Drumgoole Jr., Atlantic Bay Mortgage Group
7. Not Having A Clearly Defined Onboarding Process
A good onboarding plan will allow employees to ramp up quicker and be ready to contribute sooner. It will also make them more confident in their role as an employee of your company. The best onboarding practices provide an in-depth overview of the company, as well as job specific training. Map it out beforehand and follow through consistently. - Brooke Peterson, Skyfii
8. A Reactive, Rather Than Proactive, Approach To Problems
HR has a tendency to be reactive rather than proactive, resulting in increased business costs across the board. By looking at a list of general areas of responsibility, where costs come from, and then addressing the root cause of the costs and how to mitigate and decrease them, HR can hold a valuable role in any company and become a value-added benefit to the company and it's customers. - Sarah O'Neill - SHRM-SCP, humano LLC
9. Poor Data Management
A mantra in HR is "document, document, document." However, with so much data, finding time to file the documentation may become an issue. This can be problematic when data can’t be located to respond to litigation, complaints or leadership inquiries. To prevent this, have a defined records and retention process, maintain a master data tracker for locating information and conduct periodic audits. - Bridgette Wilder, Wilder HR Management & EEO Consulting
10. Not Embracing HR's Role As A True Business Partner
Successful HR practitioners educate themselves about their organization, fellow employees, customers and other stakeholders so they understand the bigger ecosystem in which people decisions are being made. They listen before they prescribe solutions. They thereby earn the trust of their business partners and can collaborate with them to avoid costly people decisions. - Joyce Maroney, Kronos Incorporated
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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617bb66c10ba56189267d7e7ec512f3a
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/04/25/the-four-cs-companies-consider-when-choosing-a-vendor/
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The Four C's Companies Consider When Choosing A Vendor
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The Four C's Companies Consider When Choosing A Vendor
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I recently found myself talking about why people work for certain companies. Take me, for example. I am the VP of HR for a start-up third-party logistics company. The company is brand new to the market and I knew in taking the job there would be a dozen challenges for every win. Why did I take it? Why did I take that leap of faith?
I took it because of the people. I took it because of the character of the leaders, their vast sense of knowledge in life and business, how they treat people, how they trust in people and how they lead fearlessly. I took it because of the possibilities I saw with people I believed in within an industry that so desperately needs leaders like these. I used my emotional attachment and backed it up with reason. My decision had nothing to do with the logistics industry, and everything to do with who instead of what.
This train of thought led me to question why customers choose one company over its competitors. Why does any company choose one vendor over another? Do they always choose the vendor with the lowest rates? No. Is there only one vendor to consider? No. Companies select vendors because of four main traits: Cost, capability, communication and character.
In order for any company to succeed in landing contracts, I believe it must convince its clients that it is the best solution in four main categories:
Cost
While cost plays a significant role in every business transaction, choosing a vendor is much more complex than simply taking the lowest bid. Costs a company considers when selecting a vendor include the cost of the service or product, cost savings to the bottom line, time savings, labor savings, the cost of not trusting the vendor and losing sleep over it, the cost of partnering with a company with a bad reputation. If you can position your company as one that cares about your clients' bottom line, while solving for each of these cost-related concepts, yours will succeed in turn in landing the contract.
Capability
In any industry, many companies can accomplish the same task. Capability is not the physical ability to do the job, but rather the track record of the people leading the effort. As a company selecting a vendor, do you have faith in the vendor to get the job done? Do you have faith that your vendor will do the right thing even when you aren’t looking? Do its leaders possess the moral capability?
One of the biggest values our CEO instills company-wide is to simply “do the right thing.” In a positive company culture, if you choose to do the right thing, even if you are unsure of the outcome, you will never be faulted for doing what’s right. Prove that your company is physically and morally capable of doing a job, and you will be one step closer to a contract.
Communication
The third thing companies consider when selecting a vendor is how the communication has been. Does the vendor communicate clearly, regularly and honestly? Are the representatives too aggressive or not communicative enough? Do you feel they have been transparent with you throughout the sales process? One thing most leaders can agree on is how important excellent communication is.
A good rule to practice company-wide is to respond to all communications within 24 hours or less. Clients will know that rain or shine, they can rely on you to communicate what is going on — good, bad or indifferent — on a consistent basis. This will show your clients you care as much as they do, and help position you as the company they want to partner with.
Character
The fourth and potentially most important factor I believe companies consider when choosing a vendor is the character, not only of the company they are hiring but of its leaders. Character is slightly harder to quantify in a business deal, but once a company and its vendors' characters align, it will be a hard bond for any competitor to break.
When companies begin looking for a vendor, their leaders are likely going to Google the company. What appears in those searches is just as important as the cost of signing a contract. If a company’s reviews say it recently had its CEO resign, a scandal just leaked or even an employee was unhappy, how does that reflect on the character of the company or its leaders? How did the company respond to this, or did leadership avoid it? Often times what we read online is a mixture of fact and fiction, but even the most outlandish of comments are still visible online and are likely to be read by customers.
As a company, protecting your reputation is hard. One piece of advice our COO gives is to always want the best for others and be willing to help — if you do, it's hard for people to say a negative word about you. This can be applied to every facet of business. Do what’s best for your clients and employees, and your reputation will remain one you can be proud of. Build this solid foundation and clients will be drawn to your company because they know what to expect when they do business with you.
In thinking through the four C's that companies consider when choosing a vendor, I found there is little difference in why someone chooses to work somewhere versus why a company chooses a vendor. Cost, capability, communication and character have everything to do with who instead of what. Be the who that is the answer for every what, and you will surely land your next contract.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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651e0d53afc76a0de8f7ee34d311e6c6
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/05/10/five-things-you-can-do-right-now-to-improve-employee-experience/
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Five Things You Can Do Right Now To Improve Employee Experience
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Five Things You Can Do Right Now To Improve Employee Experience
Shutterstock
In the human resources sphere, there has recently been a lot of talk about employee experience — but what do we mean by that? Similar to customer experience, employee experience is more than simply what it's like to work at a company. It's how they experience their work; how they feel about working at the company.
It takes more than Bagel Tuesdays and a foosball table. Companies that have a dedicated focus on employee experience have a strong culture, heightened employee engagement, employees who feel proactively supported, a diverse and inclusive environment and high levels of touch throughout the employee life cycle. Here are five things you can do right now to improve your employee experience.
1. Communicate
Not all companies put as much energy into communicating internally as they do externally. Your employees are also an audience and key stakeholder. They are one of your customers. Consider offering more than email as your platform; speak where the conversation is already happening. Sharing good and bad company news should be done with your employees first, and fast. Communicate your purpose and values in every way you can. Hold virtual meetings as well as live meetings.
Be sure the communication lines are open, and that you value your employees' voices too. The executive team should walk around and talk to people, and get to know what drives them. Say thank you in person, and say it in an email. Hold morning meetings. Creating time to communicate with the team on the individual, team and state-of-the-union company-wide levels will let your employees know that you want them to be a part of the team and know as much as you do. Transparency is a key driver in engagement.
2. Celebrate
Celebrate work wins, birthdays, promotions, anniversaries or when someone buys a house or a adopts a baby. It is extremely important to make time to celebrate individual employees and team achievements. It doesn't need to be more complex that having a birthday cake and allowing people to develop personal relationships as they celebrate the birthday. Recognizing and rewarding great wins are what helps develop connected culture, where employees have a sense of belonging to a company.
Create peer-to-peer awards for above-and-beyond recognition. Consider asking an employee who found a new way to solve a problem to share that with the rest of the company at a "lunch and learn," or in a featured blog on the company intranet or website. Showcasing successes is a great way to continue to celebrate and reward employees, and has a reverberation of the emulation factor. Others will want to do the same.
3. Learn And Launch
Plenty of organizations commit to learning and development, but in practice, the work gets in the way. When people are confident, they are often more successful, and learning supports that confidence in work performance. By fostering a commitment to learning, coupled with career progression conversations, your employees will want to invest in the company as you are investing in them. Giving employees an hour a day to invest in themselves through learning or passion projects will make a big difference.
Career paths do not have to be horizontal; they can also be lateral. Have a conversation with each of your employees to find what drives them and what their definition of success looks like. Then, you can tailor development plans to help them get there, through learning opportunities and supporting their growth.
4. Remove The Barriers
We build up systems in order to support the work we do. Sometimes, we over-complicate what should be an easy task. Take a look at your systems, and see what can be simplified. Your employees want to know you are taking the burden off of them to do their job so that they feel supported.
Instead of a vacation request form, use a calendar invite the manager can approve or deny. Invest in e-learning tools so employees can learn while at their desk. Simplify the onboarding process, and make it user friendly. Instead of cumbersome expense report forms, switch to an app that will take photos of the receipts and upload them into a report that auto-sends for approval. You would be surprised how many ways you can streamline the systems that touch your employees.
5. Hire For Diversity
You don’t get better results from doing the same thing all the time. People who learn and experience new environments make for better, well-rounded work. If you hire more of the same, you will get more of the same. Employing individuals with diverse backgrounds improves your perspective and problem-solving skills.
In a recent study, organizations with diversity and inclusion were found to have a decreased employee intent to leave, increased employee engagement, increased creativity, a greater sense of employee belonging and improved talent retention. Moreover, studies have shown that companies who have a diverse workforce outpace their competitors in earnings. The hires of the future are much richer in background, education, experience and perspective than ever before. Employees want to work for companies that value creative thinking, and a diverse workforce will get you there.
Your employees are also your customers. You want to give your customers a great experience so they will remain your customers, and the same applies with your employees. Create an experience that includes constant communication, learning, opportunities for growth, celebrations of work-related and non-work-related successes, reduced barriers, and a diverse, inclusive workplace, and you will have created a great employee experience.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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9cca4d004d47af7d227c2e6752561972
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/05/22/six-steps-for-getting-more-out-of-your-new-employee-from-day-one/
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Six Steps For Getting More Out Of Your New Employee From Day One
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Six Steps For Getting More Out Of Your New Employee From Day One
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You’ve just hired an all-star for your small company. Their resume was spot on, they interviewed well, their references checked out and you even received a written letter from their previous manager praising their contribution at their former company. You’re excited about the impact they will make at your company.
Six months in and you’re thinking you made a mistake. The new hire just doesn’t seem to get it. What’s worse, other employees are starting to complain that the employee has developed a bad attitude. You’re considering giving this employee one more month to prove themself before making the call to let them go. How could you have been so wrong about this hire? They seemed perfect for the role and a great culture fit.
So many companies put in the effort to bring in and interview strong candidates. But once a candidate is hired, they provide a less-than-adequate onboarding program for the new hire. Yet, onboarding is equally rewarding for the company and the new employee. For companies, you begin to receive value from your new hire sooner. Their confidence is stronger because they ramp up more quickly and get past that “new guy” feeling sooner. I've also observed a direct correlation between retention and a comprehensive employee onboarding program.
So, what should companies be doing to get the most out of their new hires from Day One?
1. Create a structured onboarding program. Adding structure to the program will show the candidate and the existing team that you’re serious about building a strong workforce. I recommend two types of onboarding programs:
General onboarding: While every new hire needs to fill out paperwork, this is only a small part of general onboarding. A good program would include information like:
• The company’s vision, mission statement and values.
• The history of the company.
• Key employee bios.
• Department onboarding, in which each department provides a high-level overview of what they do.
• Any product or service walk-through (what does the company do, sell, provide, etc.).
There are many components you can add to this part of onboarding, but the outcome should be that the new employee has a firm understanding of what the company does, who the key players are, why the company does what it does and how it does it.
Job-specific onboarding: This is typically designed by the new hire's manager or department head and should cover all the key topics and technologies that the person needs to be successful in their job.
2. Be consistent. No matter how busy things get, make sure you and your team provide time for onboarding. I personally prefer to create a mini-roadmap that outlines the tasks, timing requirements and any relevant information. I share it with new hires and we work through it together. I also facilitate introductions to anyone else involved in their onboarding, and follow up to make sure the tasks were completed.
3. Get others involved. Notice I’ve included “key players” and “department onboarding.” Onboarding is not a one-man job. There are many differing perspectives and experiences that can be helpful to a new hire. Introductions to the team early on can also facilitate relationships and make the new hire feel more comfortable with their new colleagues. Speaking of relationships, when I ask new hires what they like best about the onboarding program, they almost always comment about their buddy assignment. Each new hire is assigned a buddy, someone assigned to them to take them to coffee or lunch and that they can ask questions to. Many continue the coffee and lunches well past onboarding.
4. Provide ample time. I mean this in two ways: One, provide enough time for new hires to feel like they are getting things. For example, our sales hires have to pitch other sales team members and pass before they sell to customers. Second, give them enough time to complete onboarding. While our onboarding program formally lasts 90 days, some complete it in 60 and some need an extra 30 days. While onboarding should show consistent progress, it shouldn’t be rushed. Remember, you are creating a foundation for your new hire.
5. Check in frequently. Onboarding checkpoints should include: End of week one, week two, month one, month two and month three. These are formal, sit-down, “how are you doing?” check-ins. Also informally check in during and after tasks are completed. Some new hires may be shy and won’t speak up, so by directly asking them, you provide the opportunity for them to give feedback.
6. Get feedback. Teams and companies are always evolving, and so too should your onboarding program. New hires have fresh eyes and ears that you can use to your company’s advantage. Ask them about the onboarding program, their initial experience working with the company and general feedback. I would even recommend asking them to provide feedback as a component of the onboarding process.
These tips will provide for a great start, but don’t limit your onboarding program to only what you read here. There are many companies doing cool things and they’re willing to share them online and in books to inspire your onboarding efforts. The important thing is to find a program that works for your company and for your new hires.
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fb838b5cb6b88035f433a4a7b0ab1c19
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/07/11/when-hiring-executives-top-recruiters-look-for-these-important-traits/
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When Hiring Executives, Top Recruiters Look For These Important Traits
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When Hiring Executives, Top Recruiters Look For These Important Traits
When recruiting at the executive level, the stakes are high. After all, executive positions are leadership roles by default and it is important to get it right. But what are the most important traits to look for in a high-level leader? We asked members of the Forbes Human Resources Council for the top traits that they look for when recruiting for these types of leadership positions. The answers all pointed to someone who had a combination of traits that would allow them to adapt to the new company and actually be able to execute the mission — all while inspiring and getting the best from the other employees. Top recruiters share their thoughts. All photos courtesy of Forbes Councils members. 1. Passion
Passion is a critical value to assess within executives. As a leader, you must align to the purpose and mission of the company, and be able to communicate or demonstrate that passion so your team can rally. Being able to vocalize your why, your purpose, to fellow employees is a critical skillset for executives. - Philip Dana, Bridgepoint Education
2. Action Leaders lead! This may sound simple, but I’ve encountered so many leaders who wait for a vision to be set for them instead of taking action by setting a path, communicating it and executing to make it happen. Executives, and all leaders, must be able to own their circumstances and take action to achieve needed results and outcomes, not wait for the right parameters only and then execute. - Jared Narlock, Regional Health
3. Integrity One trait I always look out for is integrity. At the executive level, leaders must tell me how they have created and will aim to create a safe and trusting environment for their teams while acting in the best interest of the organization and its people from a moral and ethical perspective. - Kelly Lum, Highgate Hotels
4. A Vision-Seller It's imperative that executives be incredible at selling the company's vision. This skillset plays into so many important aspects of their role: the ability to recruit and hire the best talent, keep their teams engaged and enthusiastic about the organization's long-term goals and, in certain circumstances, attract investors. - Alexandra Adamson, Bowery Capital
5. Problem-Solving In executive hiring, I always look for people with a passion and yearning to sink their teeth into complex problems. I probe into their most complex missions at companies and assess their reactions to how they've tackled it. If they have this trait, their willingness, tenacity and creative problem-solving abilities will lead to impactful outcomes and new ideas. - James Banares, ValiMail
6. Flexibility Today’s workplaces are fast-paced and dynamic, with all executives on information overload. The best leaders are quick thinkers, fast learners who are able to “bounce” between tactical and strategic execution. I always probe on whether a senior candidate can flex to spend time in both high-level and detail-level realms. I don’t look for a chief do-er — rather, a credible beacon for the organization. - Stacey Browning, Paycor 7. Comprehensive Thinking Executive leaders must be oriented toward "working on the business" versus "working in the business." It is a must-have mindset to view the entire business as an ecosystem that delivers value to the marketplace and customers. To have executive leaders who are oriented to optimize their own function without consideration for the ecosystem will misdirect capital, people and execution. - Dr. Dale Albrecht, Alonos, Inc. 8. Risk-Taking I look for the mindset of risk-taking when hiring at the executive level. This particular mindset is an absolute necessity in the world we live in today to make sure our organizations are relevant not only for our employees, but for customers. - Shahid Wazed, City of Edmonton 9. Humility An important quality for every leader to possess is humility. While executives may have one of the most important roles within an organization, if they are filled with self-importance, this can reflect negatively in their dealings with employees and clients. Leading with humility is an effective way to build trust and respect. - John Feldmann, Insperity 10. Empathy I always look for evidence of empathy in executive candidates, for two main reasons. First, executives are the leaders who inspire teams to execute on their vision, and empathy is a core competency of 21st-century leadership. Second, it's critical that executives don't operate from the limited perspective of their team or function, but broaden their perspective to the best interest of the organization as a whole. Empathy is the underlying skill that allows executives to look at problems from a wide variety of perspectives across divisions within an organization and how they may be impacted by decisions. - Heather Doshay, Rainforest QA 11. Influence When recruiting at the executive level, the number one quality I look for is influence. In our dynamic and ever-changing marketplace, effective leadership involves the ability to positively empower others to navigate a new playing field. The best leaders operate mostly in a mentor-first mindset. An organization can have the best products, price points and value propositions for the market, but if you don’t have the right leader in place, it won’t grow exponentially. The ability to manage systems and processes is good, but couple that with transformational influence, and your organization will absolutely love it. - John Drumgoole Jr., Atlantic Bay Mortgage Group 12. Culture Fit If an executive has made it into your pool of candidates, they clearly have all the right credentials and experience to fit the job. However, the part that doesn't always come out in the multiple interviews is whether or not this individual can work effectively within your organization. I've seen very talented people crash and burn in 12 to 18 months because they couldn't get anything done. There are nuances to any organization and if you can't quickly grasp them and learn to work within them, it is difficult to move forward. Although some organizations cannot speak to or even recognize their culture, it is a very strong attribute of an organization and there has to be a fit for everyone to be successful. - Tracy Bittner, SPHR, Ionic Security Inc. 13. Authenticity Authenticity is paramount. If an executive is comfortable not having the right answer and demonstrates their ability to shift gears, it's usually a fast track for me. I often seek out leaders who have this trait: the ability to be comfortable with being uncomfortable. There is value in combating complexity by simply being yourself; for executives, that is baseline. Everything else follows from there. - AJ Thomas, Auction.com 14. Open-Mindedness When interviewing an executive level candidate, I will typically take them to dinner with other leaders to answer questions back and forth. During dinner, many of us watch closely: Does the candidate salt their food before tasting or not? Why do we do this? If a person salts their food before even tasting it, it may indicate that the leader is not open to new ideas, new tastes, new ways of looking at things. They may come in with their one prescribed way of handling things and may not be able to adjust to a new culture or environment. It's just an indicator of what questions will be asked during dinner to help us determine if they can adjust to a fast-changing environment. - Charmaine Smith Winters, Samsung Austin Semiconductor
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76f890059889f2c5e5bb3e18bf33afc0
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/07/17/five-effective-candidate-sourcing-tricks-youre-missing/
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Five Effective Candidate Sourcing Tricks You're Missing
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Five Effective Candidate Sourcing Tricks You're Missing
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When 78% of potential hires want to be courted for new roles, you can’t wait for candidates to come to you. But sourcing candidates proactively can’t just be about the same generic tenets that are the industry’s baseline standard. You’re never going to get the candidates you want that way.
In recruitment, we refer to the candidates you do want as purple squirrels — those perfect candidates who are nearly impossible to find. Those candidates who have a desired combination of niche skills, experience and background to best fit a specific role. Obviously, not every candidate is going to be that purple squirrel. The ones who are get snapped up fast, so you need to get creative with your candidate sourcing to get ahead of the competition.
I’ve seen a variety of outside-the-box approaches crop up over the last decade — some largely effective; others, not so much. The best ideas stand the test of time. But what ultimately works depends more on how well any given approach focuses on connecting with people. Ideas rooted in specific technologies or platforms are great in the moment, but they don’t tend to remain effective past the shelf life of the tech or venue they rely on. And there’s a definite line between people bringing truly inventive ideas to the table and someone who’d like to sell you a bridge.
So how do you find new, effective sourcing approaches? For a start, here are five creative candidate sourcing tricks you need to try:
1. Change your branding on social media.
According to our recent research, 74% of candidates get information about potential employers from social media, but only 51% of companies have any careers presence on social media. If you’re part of that other 49%, you’re missing out on a valuable networking opportunity. You can leverage your brand to connect with people, though you want to keep it professional — going biting and attention-seeking on your social networks can be great for gaining customers, but it’s bad for getting quality hires.
Your best bet? Be personable and engaging. Use your social media channels to open dialogue with potential candidates, and listen for what the people you want to work with want in turn. It’s a great opportunity to find out what kinds of benefits or value incentives can be that extra push that gets your dream candidates on your team.
2. Rethink the way you’re searching on LinkedIn.
It’s not a new trick, but it’s an overlooked one. When you’re seeking candidates on LinkedIn for specific or niche skills, look beyond the primary results pages. This advice often gets translated as “look at the last couple of pages, not the first ones” or something similar. But there’s a good reason it’s useful: The candidates who come up first are already being solicited by everyone else.
The candidates coming up later in a search aren’t less qualified; they’re just not as perfect a match based on your search criteria. Contact the people who still have the skills you need, but who are slightly outside of the exact match you’re seeking. Sometimes the perfect candidate isn’t the perfect match, but the person who brings skills you didn’t know you needed to the team — and you can’t find them if you’re not looking widely enough.
3. Go after passive candidates.
In another instance of changing the way you’re thinking about who your “perfect” candidates are, you need to consider that everyone goes after active job seekers. Who do they overlook? Passive candidates — the people who are already employed but would switch jobs for the right incentive.
Our latest research found that 81% of hiring managers struggle to find qualified candidates. Sourcing passive candidates gives you access to an additional talent pool that nobody else is looking at. Passive candidates aren’t answering job ads, but they have the skills you need, and they, too, want to be contacted directly about their next job — to the tune of 84%. Those are numbers too good to pass up.
4. Take another look at the candidates you didn’t hire last time.
You picked the best candidate at the time — the most experienced, the most qualified, the best fit. But in the time since you last hired, the candidates who were almost there have had a chance to gain additional experience and expand their qualifications, and they may now be ready to take on the kind of role you need filled.
By going back and taking a second look at those almost-hires, you’re tapping into a ready-made network of excellent candidates, people you know already wanted to work for you. Some of them may have gone on to work for other organizations in the meantime. But if so, that just gives you another opportunity to go after passive candidates.
5. Keep in touch with the candidates you want when you’re not hiring.
This is where most hiring managers drop the ball. So much so that our research shows that 75% of potential candidates say employers do a poor job of keeping in touch with them when that company’s not actively seeking. That’s not the impression you want to leave with potential candidates — word spreads rapidly about companies employees don’t feel are doing right by them, be it through Glassdoor or other employer-ranking websites.
Beyond keeping your good reputation among potential candidates, you want to reach out to and keep in touch with qualified people before you start hiring so you can set up a talent pool. Don’t leave yourself scrambling to source candidates at the last minute. Build yourself a pipeline of candidates you know you want to work with when the time comes.
Hiring is hard enough at the best of times. Why limit yourself to what everyone else is doing? Find creative solutions to sourcing candidates, and expand your options. With a good talent pool in place, and out-of-the-box approaches to finding the people you want, you’ll be well on your way to getting the qualified candidates you need, where you need them, when you need them.
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9ed702c8a86989e2030ea94cd7fe36b9
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/07/27/14-low-cost-training-initiatives-every-organization-should-employ/
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14 Low-Cost Training Initiatives Every Organization Should Employ
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14 Low-Cost Training Initiatives Every Organization Should Employ
Corporate training remains an essential component of any business’ overall strategy, as it helps ensure employees are constantly engaged and feel like they are growing within the organization. Yet, as a small business or young department, you may not have the funds available to make this learning happen for your employees.
You do have some options when it comes to providing internal development for your team that fits within your operational budget. There are a variety of low-cost (or even free) educational development initiatives that your business can take advantage of and provide for your employees.
Fourteen members of Forbes Human Resources Council weigh in on the low-cost training initiative organizations can make use of for new employees or ongoing staff education and why they are effective tools or resources.
HR executives weigh in. All photos courtesy of Forbes Councils members.
1. Self-Directed Programs
Self-directed/paced programs (with formalized objectives and content) effectively provide low-cost development and ongoing education while complementing other programming. On the back end, HR designates SMEs and develops resources for learner and SME/trainer. The self-directed component appeals to those motivated individuals who wish to expand their knowledge of specific functions or topics. - Kelly Lum, Highgate
2. On-The-Job Training
On-the-job training is a low-cost training option that any company can implement. Supervisors and SMEs are given the responsibility to coach employees who need to improve their knowledge and competence in specific areas. Performance evaluations are conducted to determine the employees' level of improvement. This program helps build the relationship between business leaders and employees. - Ochuko Dasimaka, Career Heights Consulting, Inc.
3. Lunch And Learns
Foster a culture where Lunch and Learns are the norm. These should be casual meetings over lunch, facilitated by a different person every session, and built around a topic that person specializes in and wants to broadcast. It could be discussing a new book they've read, a new tactic, a new craft in their field or a new approach. It creates an environment of sharing knowledge. - James Banares, Valimail
4. Research Project "Bake-Offs"
Construct special projects for select cohorts as development opportunities, closing with presentations to executives. Have groups of new hires learn the business and create a video summarizing what your company is about. Emerging leaders can organize around a particular challenge and compete on the best presentation of a solution. Everyone wins when those ideas are put into action. - Stacey Browning, Paycor
5. Mentoring Programs
A low-cost training initiative organizations can make use of for new employees or ongoing staff education is a mentoring program. A mentoring program can help new employees learn more quickly about an organization and how to meet the expectations of their job. With existing employees, it can help them grow and develop their capacity to take on new challenges. - Sherry Martin, Denver Public Schools
6. Training Process Gamification
Turning elements of a training process into a game or challenge can serve as a fun, memorable way to educate employees and allow them to better retain information. In fact, any activity that teaches information in a fun context can be a very effective training tool. - John Feldmann, Insperity
7. Auditing And Measuring
Auditing and measuring are key features when implementing any training initiative. By seeing results, everyone understands the programs better. For example, once a new hire completes their onboarding sessions, test their knowledge to ensure critical information was shared. If everyone misses the same question, then you can review the material or evaluate the trainer to improve effectiveness. - Thoai Ha, Lynx Innovation
8. Online Training And Team Discussions
Utilizing a mix of short and relevant online training information along with follow-up discussions in team meetings can accelerate the path to productivity for new employees. Utilizing these online learning tools to share “best practices” in a team meeting is a low-cost, effective way for teams to continue to level up, share knowledge and reinforce a culture of learning. - Jeff Weber, Instructure
9. Inside Training With Top Performers
Training does not have to cost you a tremendous amount of money, if you look inside your organization. Your leaders and top performers can hold many soft skill and technical training classes, as well as mentor and coach junior level employees. Implementing policies such as a "trainer of the month" or a training bonus for how many hours you teach each quarter can help engage employees to train. - Charmaine Smith Winters, Samsung Austin Semiconductor
10. Do-It-Yourself Development Plans
Hold sessions to assist employees in making their own development plans. These should include their personal mission statements, their short-term and long-term career goals, their current skills gaps and plans to close these gaps. This is very cheap if you have an e-learning developer and a subject matter expert or a trainer with this expertise. - Lotus Yon, NCH
11. Training Videos
Most companies hold regular meetings with their management-level personnel, and inevitably there are segments of training on topics from HR (discrimination and harassment) to accounting (managing a P&L). By having these seminars recorded, your company can have new managers watch these videos and get up to speed much faster. For the managers who were at the meeting, they have an on-demand refresher at their fingertips. - Peter K. Murdock, Blackmon Mooring/BMS CAT
12. Social Learning
In my experience, one of the best low-cost and easy-to-implement training solutions is social learning, where one employee can shadow a more experienced team member to better understand his/her role, day-to-day responsibilities and processes. Benefits include real-time and direct feedback, knowledge transfer and catering to individual learning preferences. Social learning fosters a collaborative organizational culture. - Genine Wilson, Kelly Services
13. Apprenticeships And Cross Training
Never underestimate the power of apprenticeships (internal mentor programs) and cross training. Apprenticeships give employees and managers the chance to intern within the organization, working with leaders or other departments on projects and/or development. These low-cost methods are effective ways to train and develop employees, build engagement and internal morale. - Tasha Bell, Talbert House
14. A Mentoring Program
Mentoring, when done right, is a network intervention that requires the least capital expenditure and can provide positive impact in a variety of areas such as onboarding, learning, employee engagement and retention. The challenge is that simply launching a mentor program is not sufficient. It requires nuanced planning and consideration of mentor-mentee alignment, adoption and culture change. - Gregory Pontrelli, Lausanne Business Solutions
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935763d149a94345779dc43d6cdbbae1
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/07/30/how-digital-disrupted-maslows-hierarchy-of-needs/
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How Digital Disrupted Maslow's Hierarchy Of Needs
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How Digital Disrupted Maslow's Hierarchy Of Needs
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It’s fair to say that when Abraham Maslow proposed his Theory of Human Motivation in 1943, he never envisioned a world or a workplace that would be digitally transformed. Nevertheless, his "hierarchy of needs" framework remains a popular principle in management training and workplace motivation practices today, focused on tapping into the five levels of human needs: physiological, safety, belonging, self-esteem and, finally, self-actualization.
The premise of Maslow’s work is undoubtedly still relevant in shaping exceptional employee experiences, but the workplace has drastically changed. Digital transformation has greatly influenced even the most basic of human needs in the workplace, including how we get work done. If you agree with that assertion, the next logical question is, “What would (and should) Maslow’s theory look like in today’s digital world?”
My organization explored this issue in a study of more than 3,000 workers across the U.S. Our conclusions form a compelling blueprint for updated HR practices that can lead to fulfilling experiences for employees.
Physiological Needs: Digital Tools Trump Clean Bathrooms
Historically, humans’ basic needs were considered the things we need in order to survive, such as air, food, water, sleep and so on. In the workplace, this has historically translated to pay, a comfortable work environment and access to essential facilities such as restrooms. However, in today’s digital world, workers indicate some of the most important basic needs are digital in nature.
In our study, when asked to rank the most important aspects of their workplace, employees placed “my work computer/laptop/device” at the top of that list (75%), followed by “fast internet and Wi-Fi” (68%). Interestingly, digital needs outranked things like, “my office/cubicle space,” “air conditioning and heating,” “my office chair” and “clean bathrooms.” Digital tools have clearly become a basic need in the minds of employees.
Safety Needs: Feeling Secure In Their Jobs
Feeling safe in the workplace has expanded beyond the physical sense of the word to include professional safety and security. Diversity and inclusion, as well as the ability to voice concerns, is huge, and digital tools — especially anonymous ones — can help employees feel comfortable speaking up.
Employees also have a strong desire to know where they stand in their performance and job security, and they want to know often. While traditional feedback mechanisms — such as face-to-face reviews and interactions — remain vital in delivering this insight, on-demand feedback via digital or automated technologies can provide the high-touch performance management workers want. This should come as welcome news to HR leaders, given these technologies can help increase the frequency of performance feedback in real time.
Belonging Needs: Digital Helps Connect Remote Workers
Face-to-face interactions will always remain the most effective way to foster a sense of team and teamwork. However, according to Gallup, 43% of Americans said they spent at least some time working remotely last year, and many projects today are achieved with inter-office and even cross-functional, project-based teams. With this becoming more common, employers still need a conduit for driving a sense of belonging and team. When in-person time isn’t feasible, collaboration, video and other digital technologies can facilitate and foster those much-desired connections with coworkers.
Self-Esteem Needs: Offer Opportunities To Digitally Upskill
Self-esteem in the workplace has historically only been tied to acknowledging and celebrating a worker’s performance on the job. Yet, we’ve found that this too has evolved. Many workers are concerned about their ability to succeed in their jobs, which are now largely tied to their digital prowess. In fact, in our study, their ability to attain technology-related skills was cited as more important than savings or financial assistance programs and vacation.
Self-Actualization Needs: Digital Can Deliver The Tools Employees Need
Self-actualization sits highest on the pyramid of Maslow’s Hierarchy of Needs. All the other needs allow workers to achieve them, and it’s become clear that being equipped with the latest digital tools and technology skills plays an important role. Digital helps create the human connection where it might not otherwise exist, assists (and requires) upskilling, ensures people can access the information needed to do their jobs well and can deliver time savings so workers can focus on more creative, fulfilling tasks. Digital tools are ultimately laying the groundwork for what workers need to grow and advance.
Why Apply The Post-Digital Theory Of Motivation?
If Maslow were here, he may well have his own take on today’s digital world and its influence in motivating people at work. But chances are, he’d be happy to know the theory is still very much alive and well — albeit changed. And, just as Maslow designed the hierarchy by studying what he called “exemplary people” such as Albert Einstein, Eleanor Roosevelt and Frederick Douglass, this new approach to employee experiences and motivations serves as a lens for forward-thinking business and HR leaders.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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f992ca56ef060053ec9b1827193e2f45
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/08/07/looking-for-a-job-dont-make-these-10-common-candidate-mistakes/
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Looking For A Job? Don't Make These 10 Common Candidate Mistakes
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Looking For A Job? Don't Make These 10 Common Candidate Mistakes
Few career situations are more stressful than searching for a new job. You have to update your resume, tailor your applications to your desired positions, and polish your online presence to ensure employers are finding the most relevant and positive information about you.
Amid all this stress, it's easy to forget "job search basics" and make simple errors that could ultimately cost you your dream opportunity. We asked a panel of Forbes Human Resources Council members to share the most common mistakes they see job applicants make during the hiring process and offer their advice for candidates who want a higher rate of job search success.
Council members share their top tips. All photos courtesy of Forbes Councils members.
1. Asking About Benefits Too Early
When a job applicant asks early on what the benefits are, compensation specifics or holiday schedule, it is a major turn-off to the hiring team. Those things are important, but hiring leaders want to know that you are passionate about the work and excited about the role first. All of those questions can come later once you have shown you are the right fit and care about the work at hand. - Lisa Whealon, GL group, Inc.
2. Failing To Research The Employer
In any interaction with a potential employer, whether it is a coffee chat, networking opportunity or formal interview, be sure you have reviewed the company website. Understanding the product and having reviewed recent news and developments shows an employer your interest. Don't waste an opportunity to ask a thoughtful question by asking about something you could find yourself otherwise. - Suzanne Hyatt
3. Listing Accomplishments Without Concrete Results
Candidates do a great job of providing a list of the great things they have done, or have accomplished. If you want to stand out from the competition, show your value. This is a natural extension of your accomplishment. Rather than simply stating what you did, expand by explaining the result of what you did. Employers are not simply looking for doers, they are looking for doers who get results. - John Sigmon, johnsigmon.com
4. Lack Of Details On The Application
The application and resume is the first impression to the employer. Too many candidates do not fill in the blanks on the application or provide enough detail to assess their knowledge skills and abilities. If an application or resume is sloppy and not complete, I immediately disqualify the candidate. I only hire individuals who read instructions and provide the information asked of them. - Kellie Graham SHRM-SCP, SPHR, Complete Children's Health
5. Telling Employers What You Think They Want To Hear
Too often, I run into candidates who answer every question the way they think I want to hear them, rather than with what they truly believe the answer to be. This can become very obvious since so many candidates do this. Be yourself and answer as you, because in the end, you want to find an employer whose values align with yours. - Lotus Yon, NCH
6. Dressing Too Casually
Job applicants have become very casual in their interview attire. While today's dress code standards have changed, at the minimum, applicants should arrive in business casual attire. No ties needed and depending on the heat index in your state during the summertime, no jackets either. A polished look provides for a good first impression, and first impressions last a life time. - Charmaine Smith Winters, Samsung Austin Semiconductor
7. Applying To Irrelevant Positions
Apply to relevant positions. It takes five seconds for a recruiter to figure out if a resume is relevant to the job and if not, quick rejection and move on to the next one. Take the extra time to read the job description and not just the job title. And remember, if you embellish on your resume, it's fair game in an interview and more than likely going to be discovered. - Evan Lassiter, Cloudreach
8. Speaking Poorly Of Current Or Former Employers
Too often, candidates will make a negative reference about their current or past employers during the interview. Discussing past workplace issues makes the candidate seem as if they have a negative attitude. Candidates need to focus on highlighting their skills and accomplishments in the interview. - Debi Bliazis, Champions School of Real Estate
9. Not Asking Questions
Candidates need to realize that not only are they the interviewee, but they should also take on the role of interviewer to see if the company is the right fit for them. Asking pertinent questions not only shows the hiring manager that you are engaged in the interview process, but it also gives you a chance to dig deep to see if this is a place you can see yourself continuing your career. - Charlene Collier, Capitol Consulting Group
10. Not Being Honest About What You Can Do And What You Want
I have found that the most successful candidates have been those who are honest about what they're able to do and what they're looking for in a workplace. Don't say whatever you think the employer is looking for when you know you have constraints or limited capacity — because eventually, the truth will prevail. If you keep it real, you land the opportunity you're supposed to. - Ivelices Thomas, HR & Beyond
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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4bcca31db2b6b2bfa7b41656bcb9ca17
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/08/22/how-to-find-more-value-in-succession-planning/
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How To Find More Value In Succession Planning
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How To Find More Value In Succession Planning
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A practice that is used to ensure business continuity and improve business responsiveness, succession planning focuses on key leadership positions that have a significant impact on the company and its direction, performance and success. Authors tend to focus on succession planning as a process, on the methodology and even on the systems and software that are used. But all of these approaches completely miss the point of succession planning: continuity and responsiveness.
Succession planning at its root is a business risk management tool. The fact that its nature is risk management is what fostered its requirement by the Division of Corporation Finance and stock exchanges under the U.S. Securities and Exchange Commission. It’s up to every company to decide what constitutes “key” and “significant impact.” It is important to spend the time defining the thresholds, as this will generate the volume of work that will need to be done.
The instant a position becomes vacant, the company loses momentum and progress. The longer the gap, the greater the risk of a loss of performance. By conducting succession planning, the company gives proactive thought to position-gap scenarios and what their plan of action might be. In the realm of strategy, scenario planning allows a company to anticipate market changes and potential responses. Similarly, succession planning allows a company to anticipate talent-market changes and potential responses.
Most (though not all) succession planning approaches fall short of providing companies with an effective scenario plan for talent. Most succession planning approaches are really what’s called “position planning.” In position planning, one identifies potential candidates for a position, assuming that the job doesn’t change. Almost all current human capital management (HCM) systems that have a succession module use this position planning approach instead of a scenario planning approach.
This is why they’re not used when a position becomes vacant. When was the last time a key position in your organization went vacant, and the leadership team said, “We need exactly the same thing again! Find me a duplicate of so-and-so”?
There are three key steps leaders can take to see more value from their succession planning:
1. Focus on the few. Work with leadership to identify a manageable number of key positions that are critical to business performance. This allows you to go deeper into scenarios and potential talent pools for those scenarios. Quality plans get used.
2. Work with your leadership team to envision alternative business and organizational scenarios when a position goes vacant. When a position is vacated, people will have other ideas about what to do. Get those ideas on paper, and then develop talent pools against the most likely scenarios.
3. For shallow internal benches, work the external network at the same time. Every member of the leadership team should be aware of shallow benches, and everyone should be networking to discover new external sources. These potential sources can be proactively engaged, too. You might be surprised how many people would be flattered to be considered. I’ve had remarkable success involving external bench candidates in focus groups and advisory panels. Doing so allows the company to get to know potential talent long before a need opens up.
Now, for those pesky systems that only allow you to create a one-for-one position plan:
1. One probable scenario is a replacement, so completing the one-for-one plan is useful, and it’s always the easiest place to start. Do it — capture the talent bench.
2. Many HCM systems allow attachments. You may be able to create alternative scenarios externally and attach them to the position being planned. Then you may be able to build deeper benches and put additional language in the development plans about which scenarios apply. Some systems allow you to make these notes visible only to planners, HR personnel and/or management.
If your succession plans provide a baseline for business continuity and document envisioned alternative scenarios, they become a valuable tool. Leadership will use them as a first point of reference when responding to sudden position gaps. Ultimately, the aim of succession planning is to close the gap as quickly as possible while moving the business forward in a productive manner.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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9cb1b14ffbd442dc54af493ae02d0eff
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/09/06/protecting-your-organization-from-retaliation-claims-learning-by-example/
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Protecting Your Organization From Retaliation Claims: Learning By Example
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Protecting Your Organization From Retaliation Claims: Learning By Example
Retaliation claims are a hotbed of risk for employers who take adverse actions against employees who make complaints. Companies must be able to identify and avoid these risks.
Imagine this scenario: A mid-level employee complains to human resources that the mailroom clerk has overstepped his boundaries as a support person by attempting small talk with her on occasion. She surmises that she is being sexually harassed and that there should be some rules or consequences regarding support staff speaking out of turn like this. She states that she would not have similar issue with an employee at or above her hierarchy at the organization engaging her in similar fashion.
Not long after her conversation with human resources, it becomes obvious that others know she filed the complaint. Her promotional sponsors become more distant. During her performance review, her manager tells her that a perception has developed that she is unapproachable and not collaborative, and cites the complaint against the mailroom clerk as the sole example. Her overall performance rating is lowered for the year because organizational behavior is a large component of everyone’s review. Consequently, she does not receive her expected promotion that quarter.
How should the company have handled the complaint?
When an employee first makes a complaint to human resources, they should be advised that the company will maintain the confidentiality of the complaint to the extent that is possible. The employee may be asked, though not required, to do the same. Additionally, the employee should be advised that they will not be retaliated against for making the complaint.
In this example, we have a somewhat unsympathetic complainant. She alleges that she was sexually harassed because someone that she perceived to be below her rank tried to engage her in small talk. Even if the mailroom clerk admits that he said and did exactly what the employee accused him of, then there would be no finding that he committed any wrongdoing.
In its response to the complainant, human resources may consider coaching (though by no means disciplining) her about professionalism in the workplace, collegiality, collaboration and other cultural values that would not discourage small talk. However, any coaching would need to end there and not spill into discipline. Human resources would then need to maintain the confidentiality of the complaint, as there would be no further business need to discuss it, and maintaining confidentiality helps shield the complainant from retaliation for making the complaint.
Does the employee have any actionable claims?
In this example, sharing the content of the complaint with the employee’s peers, people outside of HR or the employee’s manager was completely inappropriate. Moreover, the manager’s actions in subsequently factoring the subject of the complaint into the employee’s performance review may be viewed as retaliatory.
There is no HR-employee confidentiality privilege, as with attorneys and their clients, or doctors and their patients, though it is best practice and within EEOC guidelines that HR should maintain the confidentiality of complaints to the extent possible. Certainly, there are occasions where it is necessary to share that a complaint was made. How many people will be involved depends on the type of claim involved.
For instance, if an employee claims that another employee watches pornography at work and it makes them uncomfortable, then HR will likely contact the IT department and ask them to look at the accused person’s computer history. Likewise, if an employee claims that another employee made inappropriate advances, then HR has to investigate that, which may involve speaking with potential witnesses. Unless, as in these examples, there is a good reason not to, then the company should maintain confidentiality. The company opens itself up to a retaliation claim when it fails to.
It is very important to note that no matter how outlandish or off-putting the complaint may be, extreme precaution should be taken before acting against an employee for making it. The protections against retaliation are so broad that some courts, and the EEOC, have taken the position that even if the allegations were made in bad faith, the employee may still be protected for making them under the participation clause of Title VII. At other times, a more narrow interpretation has been applied that only reasonable complaints made in good faith will be protected under Title VII’s opposition clause.
Generally, the Circuits are in agreement that a plaintiff will succeed in making out a prima facie case of retaliation if they can prove “PAC”: 1) that there was a statutorily protected participation or opposition (i.e., a complaint), 2) that an adverse employment action has occurred and 3) that there was a causal link between the participation or opposition and the adverse employment action. A plaintiff who succeeds in a retaliation claim may be awarded back pay, pain and suffering, punitive damages, and attorneys' fees and costs.
This does not mean that employers’ hands are completely tied from taking any action against an employee once they file a complaint. Rather, it means that good documentation of any performance issues or concerns is important throughout the employee’s life cycle. If it was the case in this circumstance that the employee’s manager was already aware of any cultural misalignment or behavioral issues, then he could have relied on a steady history of documentation and feedback to the employee to adjust her current performance review, without the unlawful consideration of her protected complaint.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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133e21295e4e1a5a127294fc8067eaeb
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/09/12/how-an-accountability-partner-can-help-you-recruit-more-efficiently/
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How An Accountability Partner Can Help You Recruit More Efficiently
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How An Accountability Partner Can Help You Recruit More Efficiently
Any skilled recruiter’s goal is to hire talented candidates with fresh ideas and new perspectives — that’s what prevents an organization from going stagnant. But bringing a new point of view into the recruiting process is often more challenging. Recruiting can easily become an echo chamber, and it can be difficult to tell the difference between a tired recruiting process and a truly effective one. Your organization may make a few good hires every once in a while, but if you’re only comparing your performance to how your company has previously performed, you may be missing opportunities to hire more effectively.
That’s why increasing efficiency and effectiveness in the recruiting process requires an outside perspective, often in the form of an accountability partner (AP). Sharing challenges, successes and frustrations with a trusted outsider can prevent your recruiting process from getting stuck in a rut. Identifying a potential AP is a challenge in and of itself, as it must be someone with whom you feel comfortable but not someone so familiar that they can’t tell you anything you haven’t heard before.
Here’s how to determine who will make an effective AP, and how to use your relationship as a springboard for growth.
Who Makes a Good Accountability Partner?
First, we should establish that an AP doesn’t have to be one individual. To get the most bang for your buck, it may be best to establish a group of APs, each of whom brings a distinct perspective to the table. When creating a group of APs, try to keep the size manageable: Six to nine people guarantees a wide variety of voices and ideas while allowing for participation by all members of the group.
If you choose to create a group of APs, select leaders in different geographic regions. Recruiters in other parts of the country may be cognizant of trends and cultural differences that you aren’t privy to.
If you opt for a single AP instead of a group, you must decide whether you want that person to come from inside or outside your company. While someone from inside the company is as invested in your organization’s success as you are, an AP from outside your company can bring different ideas to the table. If you opt for an AP from within your organization, choose someone in a different region or department than your own.
Regardless of whether you decide to form a group or seek out an individual, your AP(s) should embody these qualities:
1. You should value their opinion.
2. They should be willing to help you with no expectation of a one-to-one exchange.
3. They should be active listeners who are engaged when you’re speaking.
4. They shouldn’t judge you.
5. They shouldn’t take advantage of your trust to attempt to better their position.
6. They should be comfortable being brutally honest with you.
What Should You Share With Your Accountability Partner?
As you become more comfortable with your AP, your willingness to be vulnerable with them will increase. In the meantime, sharing basic ideas and facts about your practices can be valuable as well. Discuss the number of calls made to prospects, messages left, face-to-face meetings held and first meetings. These numbers are both important benchmarks and a strong jumping-off point for your relationship with your AP.
You can also discuss reports on local competitive intelligences and the results of event-driven activities. This information will give your AP the context that they need to understand your organization. Begin with this baseline information each time you meet, but let your conversations evolve based on what you and your AP find most interesting or pertinent. These free-form conversations will lead to the aha! moments that only a fresh perspective can bring.
There’s always risk and vulnerability involved when choosing an accountability partner. But once that risk pays off, you may find yourself a more effective communicator, leader and recruiter.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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ff0dfb2679cdf30a59a7a608d32f4b67
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/09/19/is-ongoing-recruitment-the-way-to-work-13-ways-to-recruit-effectively/
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Is Ongoing Recruitment The Way To Work? 13 Ways To Recruit Effectively
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Is Ongoing Recruitment The Way To Work? 13 Ways To Recruit Effectively
Recruiting is a time-consuming job. There are candidates to hunt for, resumes to read and job seekers to interview. Should your company be recruiting full-time, or only when the need presents itself? Recruiting on a regular basis can provide you the opportunity to find top talent in an instant. Waiting to recruit only when you have an open position may save on resources, but it puts you at the mercy of a limited number of candidates. Which is the best way? Below, 13 members of Forbes Human Resources Council discuss whether organizations should recruit on an ongoing basis or only in response to newly opened positions — and propose ways to ensure recruiting efforts are both useful and effective. Here’s what they recommend: HR professionals weigh in. All photos courtesy of Forbes Councils members. 1. Build Your Pool Early And Often Any good recruiter will tell people to keep their resume up to date and never wait until they need a job to do so. Well, let's follow our own advice. We should be recruiting all the time — at the grocery store, at parties, at networking events, online. Don't wait until you have a job opening to look for someone. Build your pool early and often. - Lotus Yon, NCH 2. Create Strong Pipelines To Meet Talent Needs The ABCs of sales, “always be closing,” apply 100% to the recruiting world. Recruitment teams should always be recruiting. Talent acquisition is not a reactive function. Companies that wish to take proactive measures to build solid talent pipelines for current and future needs should start by identifying the critical talent segments of their business. These are critical roles that are in some cases tougher to fill. - Candice McGlen, Gifted Works, LLC 3. Recruit Only In Response To Vacant Positions In my opinion, we should recruit only in response to newly opened positions. First of all, because hiring demands can change every quarter, it's neither efficient nor fair to your HR team to expend resources on positions that may change or disappear entirely. Secondly, if recruiters are actively working on a position that doesn't exist yet, it can make existing team members nervous, leading to employee churn. - Steven Jiang, Hiretual 4. Build An Active And Live Network You should always be developing relationships with people who, while maybe not suited for your needs now, may be perfect fits for great roles in the future, or may even become clients. Maintaining an active and live network is important to reduce the time to hire, but much more importantly, to shape the empathy and personality of your company's brand and culture. - Cat Graham, Cheer Partners 5. Schedule Exploratory Interviews Organizations should always be recruiting to keep a finger on the pulse of available talent, with interviews framed as exploratory conversations. Doing so keeps the company top of mind with candidates, while also determining their overall interest in a future open position. This saves time and money, creates a pipeline of ready candidates and also shortens the interview-to-onboarding process. - Genine Wilson, Kelly Services 6. Always Be Having The Conversation Today it’s an employee’s market, so it's incumbent on me to make sure I’ve got a good bench of potential employees in case I need to add to my team or there's an opening because someone took a position at another company. I always want to have an idea of the type and quality of candidate out there should the need arise. It's important, though, to be honest that there's no immediate opening. - Zach Montroy, SPHR, Navigate the Journey 7. Ask For Referrals In Your Network If you want to find the best talent, the latent talent, the happy-at-their-jobs talent, you must recruit on an ongoing basis. And it needs to be a small part of every leader's and manager's job. Have coffee with potential candidates to get to know each other, or ask someone in your network for referrals to top talent. Share that info with your recruiters and keep the pipeline full. - Sara Whitman, Hot Paper Lantern 8. Always Be Promoting The Company Brand Companies need to focus on promoting their company brand online. Showcase current employees and post pictures of employee events, meetings and accomplishments. Promoting the company brand and employees throughout the year will allow visitors to see what the company culture is like. When you are ready to post a position, the job seeker will look at the company website and social media and see a glimpse of what your culture is about. - Debi Bliazis, Champions School of Real Estate 9. Build Talent Communities You should be recruiting all year long regardless of how many positions you have open. The best way to do this is through the use of talent communities. Many HR software tools offer solutions for collecting contact information of candidates so that you can stay in touch with them through updated company news briefs or targeted campaigns to keep them engaged and interested in your company. - Stephen Childs, Panasonic Automotive 10. Recruit Constantly For Hard-To-Fill roles For most positions, ongoing recruitment is ineffective. But for hard-to-fill roles, it is essential. Roles that generate revenue for the business should always be open — you can always make room for a super salesperson! It also helps to see what your competitors are doing. Other hard-to-fill roles, like those in cyber security or new technologies, can also benefit from having an open role. - Karla Reffold, BeecherMadden 11. Develop A Talent Management Plan HR should recruit in accordance with a talent management plan that anticipates needs years down the road. Rather than continuously recruiting for the same, stale positions through the years, HR needs a dynamic, proactive approach that shifts with the organization. This is achieved by working closely with leadership to align talent acquisition with operating models changes on an ongoing basis. - Mark Lascola, ON THE MARK 12. Recruit New Talent To Boost Your Brand If you’re only recruiting talent when there are open positions, you’ll end up with the best of the leftovers. Unless your product or service is extraordinarily niche and the only game in town, recruiting must be constant and consistent. Continuous recruitment boosts your brand and helps you establish critical relationships with top talent who may never work for you, but they may refer others. - Michele Markey, SkillPath 13. It Depends On Industry And Organization For a company with relatively stable employee retention it makes sense to only recruit for positions as needed. However if you are a company in an industry where employees are constantly being poached (e.g., tech), it is wise to have a repository of resumes you can turn to should the turnover rate start to spike. Odds are at least a handful of those applicants will be in the market for a new opportunity. - Charlene Collier, Capitol Consulting Group
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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850c444c92aa481ad14150068e00def8
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/09/25/15-effective-ways-hr-can-help-create-a-sustainable-company-culture/
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15 Effective Ways HR Can Help Create A Sustainable Company Culture
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15 Effective Ways HR Can Help Create A Sustainable Company Culture
A solid company culture is key for any business, as it determines how engaged your employees are — and for how long you are able to retain them. As a human resources professional, your responsibility is to help shape your company culture so that it is sustainable over the long term. Understanding what your role is and how you can better enhance your company culture can help create an environment that employees look forward to going to each day.
Fifteen members of Forbes Human Resources Council shared what roles and responsibilities HR departments have when it comes to building a sustainable company culture and how HR leaders can carry out these duties. Here’s what they had to say:
Professional leaders share best practices. All photos courtesy of Forbes Councils members.
1. Be A Proactive Culture Consultant
The HR department's role is to be an active organizational culture consultant to the executive team. HR leaders need to assess and understand the current culture, develop a strategic culture plan that aligns with the organization's values and goals and then collaborate with other executive leaders to enhance and implement the plan. - Ben Weber, Vendor Resource Management
2. Define And Communicate
HR can assist leaders in developing a clear definition of sustainable company culture. What does it mean? How is it measured? How are leaders role models? How will employees have an impact? Once a clear definition is established, involve everyone at all levels in the conversation! Fostering an environment of transparency engages both employees and leaders in ownership of achieving these goals. - Sandi Wilson, FinTek Consulting
3. Include Employees In The Process
HR leaders must come up with company culture initiatives that were derived from feedback from the employees, not just using something that they heard at a conference or read in a book. Each company culture is distinctively different, as are its employees, so you must include employees when deciding how to build a company culture where they can contribute to its success and continue to thrive. - Charlene Collier, Capitol Consulting Group
4. Incorporate Sustainability Into The Brand
When building a sustainable company culture, the most important role for HR departments is to get buy-in from prospective employees before they even join the company. In order to do this, the company’s message of sustainability should be integrated into their employer brand and used to attract candidates to whom this is important. Additionally, HR can offer incentives to employees who suggest ways of advancing sustainability efforts. - John Feldmann, Insperity
5. Enable Strategic Alignment
HR can strategically play several roles in building and sustaining a company’s culture. First, HR can make the biggest impact by consulting and collaborating with leadership to align the organization’s performance management process with its vision, mission, values and core principles. Next, encouraging leadership to align recognition and reward programs to reward positive behaviors that tie into these same areas is important. Lastly, HR should be a good role model and should coach other leaders. - Kellie Graham SHRM-SCP, SPHR, Complete Children's Health
6. Follow Your Company Strategy
Practice what you preach! I feel like that should say it all, however, I will expand... Whatever your company strategy is, follow it. One person sees you going against that and the trust walls start to crumble. Companies can use big words and come up with the most elaborate, wonderful, advanced plan to date, but if leadership does not do the simple things (follow through), then it is all for naught. Follow-through is everything. - Adam Mellor, ONE Gas, Inc.
7. Focus On How The Culture Feels
Company culture is defined by how it feels when you walk through the door and interact with employees. Building and maintaining a culture that feels positive takes the whole village. The HR team is responsible for reminding leaders how business decisions are perceived. The greatest partners provide candid feedback while caring deeply about the human in front of you. - Stacie Mallen, CampusLogic
8. Identify Areas Of Focus
It is critical for HR to take the lead role in identifying the best practice areas of focus to influence the desired culture. Once defined, HR needs to ensure the value proposition for the change is clear (what's in it for the company and for the employees) and there has to be 100% buy-in from the top as it can't be a HR-driven project. - Stephen Childs, Panasonic Automotive
9. Play 'The Catcher In The Rye'
The assumption is that the company's culture makes sense and is something everyone in the organization can reflect in their behavior with their engagement with each other, their management, their subordinates, their customers and other stakeholders. I picture HR as the "Catcher in the Rye." HR folks understand the importance of being the culture and they provide guidance to prevent managers and employees from adversely impacting the culture. - Tracy Bittner, SPHR, Ionic Security Inc.
10. Walk The Talk
Culture is core to the success of any company. And culture is tied to behaviors of people, hiring processes, perks, etc., which in the end, define who we are or who we want to be. And every part of the core culture needs to be lived by or demonstrated by every leader. If the culture of a company is to create inclusion and positivity, then our hiring process needs to demonstrate that we pay close attention to those characteristics. - Abhijeet Narvekar, The FerVID Group
11. Find And Retain The Right People
People make the culture in a company. No matter the rhetoric of the leaders or the operational processes in place, if the right people aren't there to manifest them into results and reality, they are nothing more than just ideas. The sacred duty of HR is to help managers bring in the most compatible candidates, maintain open communication and actionable feedback, and put the proper documentation and protections in place for when the wrong ones need to be ushered out. - Angela Nguyen, Ad Exchange Group
12. Integrate Company Values Into Training
It is impossible to build a sustainable company culture without HR's help. HR consults with leadership to align work processes with the values that define the organization’s culture. They integrate these values into management and employee training, which reinforce and maintain the desired culture. HR is the front line of acquiring talent who embodies the organization’s values and culture. - Cameron Bishop, SkillPath
13. Start With Commitment
It takes commitment from every department for a strong culture to thrive, and it’s the primary role of HR to foster that commitment. Start with earning buy-in from your executives; they set the tone company-wide. From there, make sure everyone outside the C-suite understands your company’s mission, and, more importantly, believes in it. A shared mission will create a positive culture that lasts. - Vivian Maza, Ultimate Software
14. Serve As Architects Of Culture
HR should act as the architects of culture. Through careful analysis of the corporate landscape, it is their responsibility to devise a plan to build a strong foundation and a sustainable structure that will support and enable the work the organization endeavors to do. It is then their responsibility to work alongside management and staff to ensure the cultural edifice remains strong. - Gregory Pontrelli, Lausanne Business Solutions
15. Advocate For The Company Values
A lot of companies say "our people matter most" or that "culture is king." But without HR’s consistent and transparent behavior to prove it, the words are empty. HR is the company’s greatest advocate of values because they are so uniquely positioned within the company to have the greatest impact. - Ben Peterson, BambooHR
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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66ac46a1ea3f02cc8850f27690737611
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/10/02/knowledge-is-power-the-benefits-of-upskilling-for-employers-and-employees/?sh=695bfb9023c1
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Knowledge Is Power: The Benefits Of Upskilling For Employers and Employees
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Knowledge Is Power: The Benefits Of Upskilling For Employers and Employees
In July, the U.S. unemployment rate dipped to 3.9%, continuing unchanged in August. As 201,000 jobs were added in August, the job market continues to tilt in favor of job seekers. However, with the addition of new jobs comes an increased temptation for employees to seek other opportunities in order to expand their knowledge and skill sets. This, in turn, incentivizes employers to focus on retention to avoid increased recruiting and onboarding costs. So how can employers entice workers to stay, while mitigating a widening skills gap by ensuring their training remains updated and relevant in an ever-changing marketplace? The answer lies in upskilling.
Upskilling refers to the process of teaching current employees new skills. As technology creates opportunities, employers seek to fill new jobs with candidates who possess specialized skill sets. By upskilling current employees, companies can fill open positions while retaining their current workforce by creating learning opportunities. Let’s look at some advantages of upskilling to both employers and employees.
For Employers
Employee Retention
With the job market booming, employers should make every effort to prevent employees from job hopping their way up the corporate ladder, forcing companies to backfill positions and costing thousands in recruiting expenses and lost productivity. By investing in their employees’ education and skills training, employers not only increase employees’ value to the company but also send them the message that they are worth the investment and have a place in the company’s future.
Succession Planning
Every organization should ensure it can continue operating successfully if one of its key employees departs. This involves upskilling current employees, providing them the training, knowledge and experience to step into leadership roles if needed. Failing to do so could jeopardize a company’s operations in the event a leader leaves suddenly or unexpectedly without a qualified successor.
Talent Attraction
In a recent Gallup report, 87% of millennials prioritized professional or career growth and development opportunities in a job, while 69% of nonmillennials said the same. When upskilling becomes ingrained in a company’s culture, it naturally attracts job seekers who value learning opportunities. In addition, brand ambassadors within the company are more likely to refer friends and colleagues to open positions when they know the company will invest in their future.
For Employees
Preserve Tenure
With the job-hopping stigma quickly disappearing, many believe employees should change jobs every two to three years to ensure continuous learning and engagement. However, if an employer provides workers with ample opportunity for learning and growth, and employees remain engaged with their work, their time is better spent focusing on the opportunities available to them while performing a job they love, rather than searching for new opportunities and spending weeks or months applying, interviewing and onboarding.
Discover New Talents
Few people can predict their entire career path. For most, a career is a long and winding road, full of surprising twists and turns, hopefully more positive than negative. Upskilling allows employees to gain knowledge in a new arena in which they may excel. This can lead to previously undiscovered talents, passions and, eventually, career paths leading to even more opportunities.
Future Investment
Even if an employee loves his or her job, the future is never guaranteed. Industries change, employers are forced to downsize, jobs are replaced by artificial intelligence, etc. The best way employees can ensure their future is to increase their value to their employer by expanding their knowledge and skill set. When opportunities for promotion arise, their employer will look favorably upon their willingness to learn and take on new tasks. For those who leave the company, upskilling will only add to their resume and make them more attractive to future employers.
Taking The First Step
For employers, it’s important to let employees know what upskilling opportunities are available to them. This should be covered during onboarding or shortly thereafter. Remember that the more options that are offered, the more employees will take advantage of them. While many may be interested in upskilling, they may have different interests, choose different paths or absorb information in different ways. Employers should be sure to offer some type of incentive for those willing to expand their horizons — not all employees will view knowledge as its own reward. A recognition program or a clear path leading to opportunities for promotion will separate those interested in moving up from those simply looking for a paycheck.
For employees, the sooner they take advantage of upskilling opportunities offered by an employer, the better chance their career stands to benefit. Employees should approach their manager about a career development plan, and work with him or her on mapping out its progression, including learning and training opportunities offered by the company that will help them reach specific milestones. While it’s an employer’s responsibility to offer career growth and development opportunities, it’s an employee’s responsibility to implement them into his or her career plan, while working with his or her manager to achieve small goals in the pursuit of larger ones.
As employers and employees work together to take advantage of upskilling, both sides will benefit from a more knowledgeable workforce, the career opportunities such knowledge provides and the employee engagement resulting from increased opportunities.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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e994847af4ea61489904c9354a694f71
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/10/05/how-breaking-out-of-comfort-zones-can-help-leaders-grow-professionally/
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How Breaking Out Of Comfort Zones Can Help Leaders Grow Professionally
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How Breaking Out Of Comfort Zones Can Help Leaders Grow Professionally
As leaders or managers in your industry, it is easy to get caught up in your day-to-day responsibilities. Often, leaders are trying to keep their head above water to complete tasks on a daily, monthly or yearly basis.
While encouraging, mentoring or problem solving with others in their organization, leaders spend a great deal of time focusing on giving team members tools and advice to be successful in their role. It's not uncommon for leaders to then neglect their own professional growth by being focused on others and the organization.
To grow both professionally and personally, I encourage leaders to step out of their comfort zone and try something new. The idea may sound scary, but the life lessons and experiences will far outweigh any fears. Leaders draw on their past experiences to guide others. By branching out and experiencing something new, leaders become able to see things from a different perspective.
How To Branch Out
There are many ways to try something new. Think about taking a cooking class, join a Toastmasters group to overcome a fear of public speaking, sign up for a charity run, go to a networking group to meet new people inside or outside of your industry, take a dance lesson, volunteer in your community or be a mentor to someone just starting out in your profession.
It can be unsettling or even scary to attend an event or class when you do not know anyone. For those of us who are more introverted by nature, this can be especially intimidating. Our fears can hold us back, but if we have the courage to do something that we did not think we could do, it can help to build confidence and overcome leadership obstacles that we may encounter. If you begin something new with an attitude that you are doing it simply for the benefit of a new experience, this can help take away some of the fear.
By pushing your personal comfort-zone boundaries, you may meet people you never thought you would. For example, if you sign up for a cooking class, you have the opportunity to gather with others from different backgrounds and share interesting experiences. This will help you to be open and learn from others. Many of these lessons can carry over into your professional life, as they help you to see others in a different light. Sometimes hearing about personal triumph, experience or struggle from another individual provides you with an alternative point of view.
Personally, I enjoy running and participating in local races in my community. Before each race begins, it can be a little intimidating and scary. I try to be present, enjoy the experience and take in the day. Each race has its own story. I may meet new friends, achieve a personal goal or overcome a challenge during the race. When I reflect back on each of these race experiences, it helps me to be open and accepting of new challenges that may come my way.
In a significant way, this carries over into my professional life: When professional challenges arise, I feel more confident that I can overcome obstacles by having had these triumphant experiences in my personal life.
I encourage you to start something new today. You may be amazed at how getting out of your comfort zone will help you grow and achieve new goals in your professional life.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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ce09d98732af74986e2f2777e0ac7add
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/10/09/the-magic-of-mentorship-how-and-where-to-find-your-match/
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The Magic Of Mentorship: How And Where To Find Your Match
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The Magic Of Mentorship: How And Where To Find Your Match
Throughout the course of my career I have benefited from coaching, guidance and the support of strong mentors. These relationships were successful for three primary reasons: The mentor held me accountable, boundaries were set for the relationship, and goals and objectives were established and frequently reviewed to assess progress.
On the other hand, I have witnessed, and been victim to, some very unsuccessful mentoring relationships. In some cases a clash of personalities existed, or the relationship fell by the wayside for whatever reason. I have found mentoring relationships tend to fall into one of five categories:
• The Coach: This type of mentor typically offers solutions or ideas to correct issues or navigate interpersonal situations. The Coach may provide great insight, especially if she has an awareness of the parties involved. The Coach may suggest the best ways to approach someone, preferred communication styles and tips to work with someone who may have a challenging personality. The Coach can fall short if she uses a one-size-fits-all approach to problem resolution, or if assumptions are made about the situation based on her past experiences. Another peril is the Coach may not understand the depth of support the mentee needs to address an issue. For example, a Coach may provide great suggestions for addressing conflict with a coworker; however, the Coach may not role-play with the mentee, denying the employee the opportunity to gain skills and confidence necessary to address the concern.
• The Friend: Naively, one may believe that a friend will always be honest and provide sound advice, which may give rise to the thought that this person would be a great mentor. Unfortunately, friends are generally too close to the mentee or the situation to provide objective feedback. The Friend may also give advice or feedback based on selfish motivations, rather than an objective response to a problem or opportunity. For instance, the Friend may tell you not to take an assignment or promotion because it may involve longer hours or take you away from town. The Friend may also not hold you accountable for meeting objectives, or may fail to give honest feedback to preserve your feelings.
• The Advocate: The Advocate will take up the mantle and fight for the mentee. The mentor will speak on behalf of, and in some cases speak for, the mentee. In extreme cases, the Advocate will even intervene on behalf of the mentee in an effort to resolve conflicts or secure projects, work assignments or promotions. While the Advocate can act as a protector and “big brother,” the relationship detracts from the integrity of the mentor-mentee relationship. Having a champion in one’s corner is never a bad thing, but when the mentor intervenes to such a degree that the mentee is doing very little to no work to achieve objectives, a relationship that may have been based in good intentions usually devolves into dysfunction.
• The Tasmanian Devil: The Tasmanian Devil is volatile, controlling, and prone to anger and outbursts if the mentee fails to follow directions or feedback provided. I was mentored by someone who embraced this type of style. After meeting with my mentor I did not feel uplifted or encouraged, and I did not have a plan for moving forward. I felt berated and beaten up, and thought about ways in which I could cancel my next mentoring meeting, or avoid the person all together.
• The Comfort Blanket: This type of mentor commiserates with the mentee, and reinforces the belief that if something did not come to fruition, that circumstances or other people are to blame. This type of relationship is incredibly destructive because the mentor and the mentee co-create a reality where the mentee believes he is either right in all cases, or that he does not have areas in which he can, and should, mature.
A sound mentoring relationship is based on mutual respect between those involved, and for the mentoring process. Express boundaries need to be developed in mentoring relationships, and growth objectives must be defined. Mentoring relationships should not exist in perpetuity, and mentoring relationships should not be viewed as or used as a source of therapy. In its purest sense, a mentoring relationship should exist in a realm similar to that of a teacher and student.
A clear understanding of what one is seeking from a mentoring relationship must be established prior to engaging with a mentor. Workplaces often serve as breeding grounds for mentoring relationships, but I encourage people to find mentors outside their companies. In some cases, corporate mentoring programs create a “same like me” effect, where the goal becomes assimilation rather than personal or professional development.
Finding a mentor outside of one’s organization can be an unnerving experience. However, connecting with someone who possesses a different worldview or thought process can help spark a level of creativity that may have gone by the wayside in a traditional corporate mentoring program.
Mentors can have a profound effect on one’s life, and anyone seeking a mentor should conduct interviews prior to investing in this type of relationship. Weigh the following considerations as you prepare to meet with prospective mentors:
• Does the person you are seeking mentoring from want to serve in this role?
• What are you looking to learn from the mentor?
• Can the mentor hold you accountable?
• Why do you want this person for your mentor?
• What qualities does the mentor have that will help you grow personally or professionally?
• How long do you want to work with the mentor?
Similarly to how one would query a potential employer about the benefits of working for an organization, the same care must be taken when engaging with someone as a potential mentor. A strong mentor can help shape one’s work style, habits and communication practices for years to come. Consuming time and effort in finding a mentor may seem unnecessary, but failing to take this step and choosing the wrong person for the wrong reason could have long-term ramifications.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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43304ad2b9e9628bb6ddb0085c9d288a
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/10/18/the-value-of-a-personal-touch-six-tips-for-a-successful-thank-you-note/
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The Value Of A Personal Touch: Six Tips For A Successful Thank-You Note
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The Value Of A Personal Touch: Six Tips For A Successful Thank-You Note
I was watching television one evening when I saw an interesting story about a café in France. The shop owner listed coffee on the blackboard at a price of nine euros. That’s pretty darn expensive for a cup of coffee. However, below that, he’d listed the same coffee for five euros ... if the customer said “good morning,” “good afternoon,” “good evening,” or “thank you.”
While the shop owner didn’t report a large spike in sales as a result of this unconventional marketing tactic, his customers did become friendlier, and the five-euro coffees far outsold the more expensive option. Although greeting your barista might seem simple and obvious, plenty of people forget to do it when they’re stressed or in a rush. That café wanted to remind people to get back to those forgotten basics.
We can apply this lesson to the recruitment process too. Recruiters can take small, simple steps to build meaningful relationships with desirable candidates and get a leg up on competitors when it comes times for the candidates to make their final decisions.
One of my favorite “forgotten basics” is the thank-you note. People often assume that candidates are the only ones who should be writing thank-you notes, but in today’s candidate-driven recruitment landscape, recruiters should take the time to thank candidates and add personal touches to the hiring process.
Sadly, the mechanics of the thank you have been lost to email, tweet and text. Yes, it’s quick and easy to jot off a five-second electronic follow-up and move on, but it doesn’t take much longer to make a memorable impression with a handwritten note. After a phone call or first meeting, don’t wait for the next call or meeting to continue communications. Do the unexpected and make that prospect or client feel valued with a real thank-you note.
Just follow these steps:
1. Write it by hand. A handwritten thank-you note has far more impact than a typed note or an email, but with one caveat: it should be written by you. Don’t delegate this task to your assistant. It should be in your own words and handwriting.
2. Give it a real stamp. Machine metering is faster and easier, but go ahead and splurge for some real stamps to keep in your desk. Savvy prospects will notice the real stamp and appreciate the personal touch and attention to detail — and to them.
3. Pay attention to the ink color. Make sure that your ink is in a different color from any printed material on the stationery. If you’re taking the time to write a note by hand, you want it to be noticed! With a different color of ink, your client or prospect will immediately know that you made that effort.
4. Don’t leave out the address. You should write the address by hand too. The address will be the first thing that the prospect or client sees when they receive the note, and they’ll be immediately blown away to realize that they’re receiving a handwritten note from you. Labels make it less personal. Send the right message.
5. Use unexpected sizes. Larger notes grab people’s attention more quickly than standard sizes (think: the size of a wedding invitation). Nonstandard sizes stand out among the bills and mailers most people are used to receiving.
6. Keep it concise. The card itself may be large, but don’t write a novel or try to summarize your discussion. A quick sentence or two will suffice, as long as your message is sincere and genuine. Reflect on what the meeting or phone call meant to you, and express that in the first sentence. In the second, reference a personal detail to show that you were really listening to what the prospect or client had to say. “Crystal, I really enjoyed our first meeting and am excited to follow up with you. That is awesome news about your daughter’s college selection — congratulations again!”
In my role as Head of Recruitment for Stifel, I have the opportunity to interact with many potential recruits. I would estimate that 2% take the time to follow up with me after engagement, and it shouldn’t come as a surprise that those 2% make an impact. Those are the people I really want in our organization.
Conversely, I keep a cupboard full of note cards that I send to every recruit who I would like to join our organization. I believe that this extra step helps us stand out and build relationships with top candidates.
Of course, I realize that the suggestion to send handwritten thank-you notes is rather basic. Anyone who’s recruited candidates or searched for a job before has likely heard it. However, almost no one actually does it. Be one of the few to make the effort, and you’ll have genuine impact.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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43803f867403d6493e7af47ee9e13bb1
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/10/22/12-ways-to-boost-your-hrs-succession-planning-effectiveness/
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12 Ways To Boost Your HR's Succession Planning Effectiveness
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12 Ways To Boost Your HR's Succession Planning Effectiveness
Human resources is an important function of any company. One of its most critical jobs is hiring workers who fit the ethics and needs of the company. Beyond that, with an eye to the future, HR professionals are also usually in charge of succession planning, wherein employees are matched to potential future job openings, for which they will be trained to become a successor.
The ability to match the right person to the right future job is often difficult, due to constantly shifting variables such as employee outgoing-incoming flux. How can HR’s role in succession planning be made more effective? How can the succession planning process be improved to see better results?
Below, 12 members of Forbes Human Resources Council explain their role in succession planning and their most effective practices.
Top HR experts share tips. All photos courtesy of Forbes Councils members.
1. Mobilize Talent
HR's role in succession planning is to mobilize talent. Succession plans enable companies to respond to gaps, reducing the risk of a loss of business continuity. HR should challenge leaders to identify and develop high-quality and diverse talent. However, go beyond the "normal" replacement approach — to gain the highest value, incorporate scenario planning. - Dr. Dale Albrecht, Alonos
2. Identify And Develop New Leaders
HR plays a vital role in succession planning. It's our job to not only hire great talent, but also to identify and develop new leaders. Succession planning increases the readiness of experienced and capable employees who are prepared to assume leadership roles as they become available. One of our goals is to ensure there are no key positions open that we don’t have another employee prepared to go into. - Tania White, The Loretto Hospital
3. Focus On L&D Programming
To be more effective, HR professionals should focus on their L&D programming. What opportunities are in place to identify potential leaders? What programs are available to develop critical skills? More than moving a body, HR needs to prepare individuals to meet future challenges. With this approach, organizations can watch their talent rise when the time comes to fill key positions. - Dr. Kelly Lum, Highgate
4. Facilitate A Great Discussion
Succession planning is all about understanding your talent and anticipating future needs of the business. It's a great opportunity to calibrate potential, risk and opportunities for development. Ask questions like who is at risk of leaving and what would the impact be, what could we do to retain them and how do we prepare them for their next role or to be more effective in their current one? - Molly Nuhring, Otis Elevator
5. Keep Succession Plans A Priority
HR’s role in succession planning should be to ensure it remains a top priority. A succession plan requires ongoing work from management, as well as prospects (who must agree to becoming successors). However, as employees move in and out of the company, training needs, schedules and potential successors change. Therefore, HR must ensure succession plans remain up to date. - John Feldmann, Insperity
6. Identify Business-Critical Roles
The HR team needs to ensure business-critical roles are identified based on business needs. They need to work with department heads to identify competencies and experience needed for each of these roles. They ensure employees can assess against these roles and managers can provide input on potential against current and future roles. Finally, a development plan can be prepared to close skills gaps. - Linda Ginac, TalentGuard
7. Identify Top Performers
Human resources should identify the organization's top performers through analyzing competencies and potential roles. This practice is most effective when identifiers and measurements are well-interpreted. HR should use the appropriate instruments to provide the most accurate measurements and avoid overlooking potential. - Tiffany Jensen, Pure Grips
8. Be A Development Partner
Be a strong advocate of people development. Have a strong process of talent identification and make sure proper training, including coaching and mentoring, is provided to those talented people to boost their careers. This process can make it easier for an organization to have a good selection of potential successors, while providing visible proof to employees of their career opportunities. - Grace Garcia, PDC Operations (Australia) Pty. Ltd - ROHQ
9. Facilitate A Lean Process
Succession planning can be overwhelming. It is best to have HR facilitate a simple process to prompt leaders to future-plan. This could mean creating quick profiles for executives that ask for each role, “Who is this person successor to?” “Who is a successor to them?” and “Who would cover in an emergency?” It’s that last question that gets people in motion, adding or grooming talent as needed. - Stacey Browning, Paycor
10. Put Success Back In Succession Planning
HR is responsible for driving the plan to fruition, while program accountability falls to the leaders who require the planning and the executive team owns plan sponsorship. To increase effectiveness, keep it simple. Align the plan to company goals and values, focus on targeted development or talent acquisition where skill gaps exist, balance performance versus potential and measure outcomes. - Dr. Timothy J. Giardino, Cantata Health, LLC
11. Capture Critical Knowledge
HR’s role must include a process to identify and capture critical knowledge. Succession planning tends to target leadership roles, but also consider those transitioning roles or retiring. What processes is the individual responsible for? Who is cross-trained? What are the obstacles? Identifying successors is important, but ensuring critical knowledge does not walk out the door is paramount. - Sandi Wilson, FinTek Consulting
12. Help Leaders Understand Individual Strengths
Losing star performers, giving up market advantage and incurring added costs — these are the risks companies face without ongoing succession planning. HR teams can facilitate the succession experience by helping leadership understand people’s strengths and potential. By having these imperative conversations with leadership early and often, you will secure the future of the company. - Lisa Sterling, Ceridian
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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92e1bc11c400dad9ab528cc3da4e6551
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/10/23/re-engage-the-right-way-11-methods-to-assess-and-approach-disengaged-employees/
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Re-Engage The Right Way: 11 Methods To Assess And Approach Disengaged Employees
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Re-Engage The Right Way: 11 Methods To Assess And Approach Disengaged Employees
Motivated and engaged employees are what you hope for — they work at full speed, are up for any challenge or extra task and have a generally happy demeanor in the workplace. However, over time, employees might slowly start to act differently. Perhaps they aren’t putting in the full 110% or they’re constantly late to work or to meetings. It could even be as simple as neglecting the clothes they wear, when they didn’t before. These all may be signs of disengagement.
Disengagement is a slippery slope. At best, an employee has a rough patch and gets back to normal. At worst, the employee so completely disengages that they leave. If you’re seeing the signs, how should HR respond? Who is the best person to speak with the employee and how?
Below, 11 members of Forbes Human Resources Council share the signs of disengagement that they look for and how they go about finding a solution.
Human resources professionals discuss. All photos courtesy of Forbes Councils members.
1. Decreased Productivity And Participation
When employees start doing "just enough" to get their job done and stop actively participating in meetings and/or activities, it is a clear sign of disengagement. To recover from this, there needs to be a dual effort between HR and management. HR can have conversations with employees to find out why they seem disengaged, but it is up to the managers to implement and maintain the necessary changes. - Charlene Collier, Capitol Consulting Group
2. High Voluntary Turnover
When an organization is experiencing a disproportionate amount of voluntary turnover, especially within its long-term employees, that is an obvious sign of employee disengagement. Engaged employees stay, disengaged employees leave. Conducting exit interviews and even stay interviews can provide HR with the insight they need to address whatever issues are contributing to the disengagement. - Ivelices Thomas, HR & Beyond
3. Your 110% Employee Suddenly Giving 90%
A negative shift, however small, in productivity or performance is an early sign of disengagement. HR should immediately host the employee for a retention interview. More often than not, personal matters are the culprit and simple schedule adjustments or other "quick fixes" can get the employee back on track and make the employee feel valued. - Cristin Heyns-Bousliman, Blake's Lotaburger, LLC
4. Sarcasm, Tardiness, Withdrawal
Spotting employee disengagement is easy if you're paying attention. Facial expressions, body language, sarcastic answers in speech and/or through email, tardiness to work or to meetings and withdrawal from discussions or social circles can all be signs of disengagement. HR and/or the employee's supervisor should engage the individual in conversation. We can’t help if we don't know the problem. - Frank Molinario, Security First Insurance Company Inc
5. Lack Of Initiative
Disengagement isn’t black and white or always obvious. While it’s easy to spot those who are actively disengaged (poor performance, absenteeism, poor attitude), we have to look closer for first signs of disengagement like lack of initiative and silence. HR should respond to these signs on an individual level by communicating to understand where on the spectrum of engagement the individual may be. - Dr. Kelly Lum, Highgate
6. Communication Breakdown
When employee disengagement begins to surface, the first casualty is communication. The disengaged employees start to withdraw, give minimal updates, and seem less and less interested in the processes, goals, tools and priorities of other departments. On an individual basis, HR should check up with the supervisor and employee to see what issues may be affecting his or her morale. - Angela Nguyen, Ad Exchange Group
7. Checking Out
As employees start to become disengaged, absenteeism generally increases and employees start to dial back any discretionary effort they previously provided such as volunteering for events or special projects, coming in early or staying late, speaking up in meetings and proposing new ideas. The role of HR is to coach leadership to spot these signs and then perform the proper interventions. - Kellie Graham SHRM-SCP, SPHR, Complete Children's Health
8. Any Change In Work Ethic
A change in work ethic, whether gradual or sudden, should raise some red flags. If they stop asking questions, aren’t producing quality work, start coming in late or don’t seem interested in getting ahead in their career anymore, it should be addressed. If possible, their manager should take active steps to show their employee that they are invested in their future with the company. - Edward Fleischman, The Execu|Search Group
9. Absenteeism
One obvious sign of disengagement is absenteeism. Disengaged employees call in sick, show up late, take long lunches and leave early. When they are in the office, they do the bare minimum to keep their jobs. HR can respond by trying to understand what would encourage them to be more involved. Holding one-on-one meetings is a way to build rapport and learn what employees need to feel valued. - Michele Markey, SkillPath
10. Dressing Down
Employees who start to dress down, compared to how they were previously, may be less engaged with work. Often it is coupled with someone putting in fewer hours or making less effort with their team. If this can prompt a conversation on how they feel about their role, it may head off any problems. If the issue isn't work-related it can offer an opportunity to support their overall well-being. - Karla Reffold, BeecherMadden
11. Silence
Disengaged employees stop talking and sharing opinions. Both verbally and physically, they illustrate that they no longer want to be involved. HR should immediately seek to understand why disengaged employees are distancing themselves and then act to find a resolution. This is only possible if your existing culture supports the openness and transparency that are crucial to establishing trust. - Ben Peterson, BambooHR
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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838addc94c67f77418ef84541336f8f0
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/11/15/five-reasons-companies-hold-back-on-employee-recognition/
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Five Reasons Companies Hold Back On Employee Recognition
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Five Reasons Companies Hold Back On Employee Recognition
When speaking at a conference recently on the topic of employee recognition, I decided to start out by asking a question to gauge the audience’s current state of play. The question was simple: “How many of you are doing something at your company, either formally or informally, to recognize your employees, showing them you appreciate and value them?”
To my surprise, and quite frankly, my disappointment, very few people raised their hands. Surely they didn’t understand my question, so I asked it again in a slightly different way. And again, hardly anyone raised their hands. What, didn’t they know the power of recognition — the importance of giving people what they crave and what businesses need?
Our organization's President of Employee Engagement Gregg Lederman believes employees crave three things: respect for what they do, a sense of purpose within the organization and strong relationships with colleagues and managers. Fulfill these desires and good things happen.
The good news is that from what I’ve seen over the years, employee recognition ticks the box for all three of these cravings. So I ask again, what’s keeping so many companies from doing this?
I believe there are five reasons businesses give for holding back on recognition. And since I’ve been "lucky" enough to have heard them all over my 20-plus years as an HR leader, I have some advice for dealing with them.
1. They don’t understand the impact.
Too often business leaders see recognition as the fluffy stuff, something that is a "nice to do" but are not aware of the significant impact recognition can and does have on the business, on the bottom line.
There’s overwhelming evidence showing the positive impact recognition can have on business results, so start with these when presenting your case for recognition efforts. For example, according to our study of over 5,000 workers in the U.S., U.K. and Australia, low motivation causes employees to be 46% less productive and have 37% poorer-quality work. How’s that for impacting the bottom line?
2. They don’t understand what it is (and isn’t).
Even if your business leaders are aware of the positive impacts of recognition, often I’ve seen that they fundamentally misunderstand what recognition is and what it is not. For example, I’ve had leaders believe that sales commission, bonuses and even base pay are classified as recognition, and so when I come to them requesting to put in place what I’d call a "proper" recognition program, they tell me it isn’t necessary. “We have it already,” they say.
Explain to leadership that financial incentives and pay, while sometimes having a purpose in the overall strategy and mix, are not what employees want and need to feel valued and appreciated for their work, and thus giving them what they crave.
3. They believe it is too difficult.
A common reaction I’ve had from business leaders is that recognition is just too difficult or will take time away from running the business, and so it shouldn’t be done.
Point out that the time saved by the business in improved productivity, lower absences, etc. far outweigh the minimal time required for recognition. Also mention that recognition can and should not take a lot of time if it’s set up, trained and embedded into the culture of the company. (More on that soon.)
4. They believe it is too costly.
Money, or rather a lack money, is often the first reason we hear for not being able to put in place a recognition program. “It’s too costly, so we just can’t do it,” hesitant leaders say.
Explain that recognition does not need to cost a lot of money. In fact, according to our survey of 500 employees and 500 leaders, more than 70% of employees said a simple "thank you" was enough to make them feel appreciated.
Focus on the recognition and not the reward, and this will not only cost less money but will actually be more effective and drive more positive results.
5. They are afraid of not knowing how to recognize.
This final reason is the one that I believe is actually the root of many, if not all, of the other reasons. And it’s that many leaders and managers just don’t feel equipped or comfortable with recognition, and so they would rather not give it a go, hiding behind the other reasons.
Help leaders understand and feel comfortable recognizing team members, and point out that once they actually give it a go it will become quite natural, will be rewarding for the person receiving the recognition and for the person giving the recognition and will showcase to others just what good looks like.
Lederman suggests a simple three-step process that I’ve adopted and shared at my company. It’s helped my workforce become more comfortable, and even excited, to recognize others.
1. Tell the action. What is the behavior you found worth recognizing?
2. Connect to the focus area. How does the action link back to a company value or behavior?
3. Share the impact. How did the action benefit someone or the organization?
Allow me to end this article in the same way I ended my presentation: I challenge each and every one of you to make recognition a priority at your company. Whether it’s a formal recognition program or simple notes that you hang on the walls of your office, do something. By doing so, you’ll give your employees what they crave and what your businesses need.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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a0dbe54c849ac811a04b6c719a4ddc4b
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/11/26/to-amplify-career-growth-try-crowdsourcing-your-mentorship/
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To Amplify Career Growth, Try Crowdsourcing Your Mentorship
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To Amplify Career Growth, Try Crowdsourcing Your Mentorship
Many leaders know the value of having a good mentor. Mentors are like coaches: They have experience in the field the mentee seeks to grow in, and take a personal interest in the mentee's professional growth. Great mentors become invested in the success of the mentee. They set rules of engagement at the beginning of the relationship and agree on what will be accomplished, how often they will meet, what is on and off limits and what the mentee's goals are. The primary role of a great mentor is to empower the mentee to develop their strengths and confidence and to achieve their goals.
But what happens if you have a great mentor who helps you develop your leadership skills, yet you also need help to develop your understanding of the technology industry? Perhaps you are considering starting a business and would like to be mentored by established entrepreneurs.
Crowdsourcing, in short, is maximizing the power of many. The idea behind crowdsourcing is that instead of having one resource, you can have many resources to solve your problem. An article in the Harvard Business Review explains, "There is a need for us to have multiple mentors with expertise in various domains." While your company may have a workplace mentoring program, given the wide potential for dysfunction, the efficacy of many of these programs is dubious. So, think like a tech startup and crowdsource your mentorship through these overlooked avenues.
Reengage Your Alumni Network
A conversation with someone with whom you already have something in common is a great place to start. Contact your school alumni relations department or join your alumni group on LinkedIn. Let your network know what kind of mentor you are looking for, and what your goals are for the relationship. Also, consider mentors from outside your region. Mentoring can be very successfully executed virtually, with video technology, discipline and acknowledging each other's time zones.
Virtual Mentor Sites
There are several great services online that match mentors with mentees. One is vPeer , currently in beta, which uses algorithms to match mentees with mentors and allows mentees to feel empowered to ultimately become mentors themselves — after all, mentees have a lot to share as well. Another source is eMentor, a free service to military members and their families that connects experienced mentors with protégés. If you are looking to start a business, Score will connect you with seasoned entrepreneurs for free, as well as other resources to help you on your way. Finally, MentorCity is a free online mentor matching service that will match mentees to mentors from a variety of industries.
Get Social
Research influencers on social media who influence the spaces and places you want to grow in. Follow them on LinkedIn and on Twitter. Be thoughtful about what you share authored by these influencers, citing what you like about their thought leadership specifically, and use hashtags sparingly. Always give credit to the author. Once you have established trust, reach out to let them know their wisdom has resonated with you and why you would like to connect with them. Be specific with your ask. Influencers and leaders get a lot of requests but often respond to mentorship requests from those who have specific goals and will be disciplined in their approach to the relationship.
At every stage of each of our careers, we need different mentors. Some of us need multiple mentors at the same time. When asked about what form of mentorship works for her, founder of Nasty Gal and Girl Boss Sophia Amoruso recently told Elle: "To a certain extent, I crowdsource my mentorship. I’m usually on 10 different texts with 10 different investors or advisors or friends, asking them questions constantly." The norms of having one mentor, or a company career or a single-industry career are changing. Disrupt your career by crowdsourcing your mentorship and take your professional goals to the next level.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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99c5d2e78d11a314e9932a2ea376176f
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/11/27/how-to-nail-your-first-impression-with-a-recruit-every-time/
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How To Nail Your First Impression With A Recruit, Every Time
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How To Nail Your First Impression With A Recruit, Every Time
Recruiting is a two-way street: While hiring managers work to recruit the best and brightest talent in their industry, top recruits are evaluating firms to determine which will be the best fit. Of course, as a recruiter, you’re often tasked with representing your entire organization, meaning it’s especially important that you make a positive and lasting first impression.
Research has shown that it takes us between 33 and 100 milliseconds for our minds to form judgments about a stranger. That means — as much as we’d like to pretend otherwise — our appearance and demeanor play a key role in eliciting a positive response from those we encounter. Below, find a few suggestions that will help recruiters and recruits nail that first meeting, lay the groundwork for a productive conversation and serve as a positive representation of their firm:
A Polished And Professional Appearance
Clothing: From head to toe, your appearance should communicate that you’re confident, competent and professional. If you can’t properly tie a tie or iron your pants, why should a recruit assume your company runs a tight ship?
Many stores offer complimentary personal shoppers or styling services; these experts can help you choose interview-appropriate clothing and ensure it fits you properly. If you’re in between sizes or find that your pants and sleeves are always too long, make the extra effort to get your clothes tailored. It’s a small upfront investment that can make all the difference down the line.
Accessories: If you carry a briefcase, purse or computer bag, I’d be willing to bet that you take it with you to every interview or business meeting. That means it’s likely the most important accessory you own. Make sure it’s clean, free of scuffs and of high quality. If you wear other accessories, like a watch or jewelry, they should be appropriate for a business setting as well. They shouldn’t be excessively large, loud or overt. Don’t let your accessories distract from the conversation.
Grooming: This should go without saying, but your grooming habits shouldn’t distract from the conversation either. Keep your hair and nails neat, clean and trimmed. Your hair shouldn’t cover your face, and if you opt for painted fingernails, they should be a neutral color and shouldn’t be chipped. It’s also a good idea to invest in whitening strips or whitening treatments for your teeth. A bright, glowing smile can go a long way for your confidence and appearance.
Communicate Confidently
Verbal communication: When you’re meeting someone for the first time, it’s wise to be careful with your language. Avoid slang and swear words, and keep jargon to a minimum, as it could be confusing. Be aware of your voice’s pitch and speed — don’t rush, as you could come across as nervous. Further, don’t interrupt. It can be tempting to barge in with a thought or comment when you’re eager to make a strong first impression, but no one takes kindly to being interrupted.
Body language: Most people focus far more on their spoken words than on their body language, but you communicate equally with both. Pay a little extra mind to your body language, and your first impressions will greatly improve. Aspects of body language include:
• Posture: Stand up straight, and don’t slump your shoulders. Hunching or bending over automatically expresses a lack of confidence, even if your clothing, grooming and spoken language communicate the opposite.
• Handshake: A dead-fish grip and a death grip are both inappropriate and convey insecurity. A firm handshake, on the other hand, is confident and professional. When shaking hands, maintain steady eye contact. If you have trouble making eye contact, look at the other person’s forehead.
• Body position: Keep an appropriate distance between yourself and the recruit to put them at ease. Angle your body away from them slightly, and don’t be a “close talker.” Let your body position mimic theirs. If they take a step back, don’t step closer and box them in. Keep still; don’t rock back and forth or tap your feet.
• Hands: Keep your hands relaxed and at your sides. Don’t fiddle your thumbs, play with your hair, bite your fingernails or jingle the change in your pockets. (Even better, empty them out.) If you have trouble resting your hands at your sides, mimic Angela Merkel’s signature pose: hands in front of the waist, with fingers and thumbs forming a diamond shape.
I realize that many of these concepts may seem like common sense, but I know that they are frequently overlooked by recruiters and candidates alike. Pay attention to these little details, and you’ll stand head and shoulders above the competition.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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2a46f43ef3f839c2f5a0f805dd885ba0
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2018/11/30/12-signs-your-employee-is-disengaging-and-how-to-respond/
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12 Signs Your Employee Is Disengaged (And How To Respond)
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12 Signs Your Employee Is Disengaged (And How To Respond)
High levels of employee engagement can have an extremely positive impact on a work environment. Productivity rises, communication flows more openly and projects move from idea to actuation faster. However, whether from dissatisfaction with work or disruptive events in their personal lives, employees occasionally become disengaged. This can not only have negative effects on their work, but can also spread to other team members.
It’s important to recognize the signs of employee disengagement as early as possible so that effective action can reverse the trend. Below, 12 members of Forbes Human Resources Council share the signs of disengagement team leaders and HR need to watch for, as well as some tips on how to respond.
Members of Forbes Human Resources Council talk about the signs of employee disengagement and what to do if you see it.
1. Withdrawal
Employees who are disengaged will withdraw from any non-necessary conversations or activities. They also tend to only do the minimum to get by, will decrease their productivity and no longer give discretionary effort. HR can meet with disengaged employees to attempt to find out why this is occurring and, if needed, coach leaders about how to increase employee engagement. - Kellie Graham, SHRM-SCP, SPHR
2. Poor Communication
Observable signs of disengagement include lack of participation in team or one-on-one meetings or in “the meeting after the meeting,” where employees meet separately to process and communicate what should have been shared in team meetings. Another sign is decreased productivity. Regular pulse surveys provide insightful data that can be used to proactively address concerns with managers and individuals. - Jeff Weber, Instructure
3. Breaks From Routine
Engaged employees are reliable, with recognizable routines. When patterns change — a vocal person in meetings is now quiet, or a star performer’s deadlines slip — it’s worth taking a closer look. While it may be a stretch, one boss of mine believed a dramatic hairstyle change was concerning. When someone exhibits change, it’s time to inspect and open up a dialogue for explanatory insight. - Stacey Browning, Paycor
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
4. Silence
One prominent sign of disengagement is silence — on team calls, over email or in missed meetings altogether. If an employee seems distant, take immediate steps to connect with them one-on-one. Make yourself available to chat. Find out what drives them and coach them toward their goals. Encourage team members to also reach out and provide support. Hold a team lunch or fun outing to build relationships. - Vivian Maza, Ultimate Software
5. An Apathetic Approach
Almost every time I’ve seen apathy or lack of commitment from an employee, it’s been a clear sign they’re disengaged and likely looking to leave. Observable signs of apathy could be unwillingness to engage in healthy debate, just not caring enough to present or defend their ideas, not fulfilling their commitments (doing what they said they would do), and not being willing to be accountable. - Zach Montroy, SPHR, Navigate the Journey
6. Absenteeism
Because there are many reasons why employees can be gone from work, we don’t often look at absenteeism as a sign of disengagement. The truth is, really engaged employees will find a way to be at work. Organizations should look at absenteeism as an opportunity to have a caring dialogue and ask, “What’s going on?” Maybe it is just a cold, or maybe there is something more. - Lucy Rivas-Enriquez, Union Rescue Mission - Los Angeles
7. Complacency
A clear sign of employee disengagement is complacency. Managers and employees need to have two-way, honest dialogues about performance, expectations and overall attitude before full disengagement ever becomes an issue. There are a number of factors for feeling complacent, but through honest discussions, great leaders can help discover the root cause and come up with a realistic solution. - Beth Ann Steinberg, Zenefits
8. A Decline In Work Quality; Missed Deadlines
Two of the most obvious signs of disengagement are a decline in work quality or output and regularly showing up late or missing deadlines. When these become persistent, HR should approach the employee as soon as possible to determine the causes. If it’s the result of disengagement, management should work with him or her to determine what is necessary for re-engagement. - John Feldmann, Insperity
9. Exhaustion, Cynicism, Inefficiency
Disengagement can stem from prolonged burnout, which manifests as exhaustion, cynicism and inefficiency. These employees might have been highly engaged at one point but didn’t have the tools to preserve their well-being. Explain how well-being can impact their ability to recover from their burnout. Encourage managers to adjust workloads when someone has been going full throttle for too long. - Laura Hamill, Limeade
10. Lack Of Participation
Disengagement can show up as disinterest in participating. Leaders can respond by ensuring employees have a reason to, and know how to, engage. Leaders can co-create goals that are meaningful, measurable and achievable, but with some degree of difficulty, and can clarify connections of goals to the success of the company. Leaders can share role models of expected behavior and celebrate success. - Phyllis Wright, Ph.D., VRM Mortgage Services
11. Naysaying
One telltale sign is that an employee becomes disenchanted with the organization and acts out that disenchantment by frequently naysaying new ideas and opportunities related to driving the business forward. At the first sign of an issue, the manager should involve HR to help discover the root cause and work to correct the course of relations. - Scott Faurot, ashcompanies.com
12. Rudeness
Everyone has trying days, but to become curt with other coworkers or clients can be a big sign. It could actually be boredom or that an employee is not feeling heard, which may cause little effort in the workplace. Try holding a meeting and letting them speak frankly. From those meetings, conclusions could be mentorship opportunities, ongoing training or special project work they are interested in. - Elizabeth Coakley, C.H. Coakley & Company
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0df2b32fb37e6ed1e270f7de2bbdb643
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/01/11/five-steps-to-creating-a-healthy-inclusive-and-inspiring-work-culture/
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Five Steps To Creating A Healthy, Inclusive And Inspiring Work Culture
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Five Steps To Creating A Healthy, Inclusive And Inspiring Work Culture
In the last year, in the wake of the #MeToo and #TimesUp movements, talk of culture has noticeably shifted to talk of inclusion. In my view, the only healthy culture is one that's inclusive and enables all members to contribute and feel valued. I want to share some practical thoughts and ideas to help your company become more inclusive and, as a result, more welcoming, creative and productive.
How do you develop a culture that includes and inspires all people, including women and underrepresented groups? Part of the key lies in understanding your own privilege, which can be tough for many of us to explore. But it’s a necessary step to creating a work environment that invites everyone’s contributions. Here are some ways to get started:
1. Recognize your unconscious biases and address them.
We all have biases. Admitting that you have bias is essential in order to grow. One way to understand yours it to take The Implicit Association Test (IAT), a free online tool developed at Harvard that lets you assess your bias in categories like gender, race, religion, disability, age, weight and weapons. A goal of Project Implicit is to study thoughts and feelings outside of our conscious awareness and control. Its findings help educate us about hidden biases and provide a “virtual laboratory” for collecting data about bias. It also provides recommendations to help eliminate unwanted biases once you identify them.
2. Act on your empathy to build others up.
If you don’t know where to start, ask a couple of people from underrepresented groups what they need from you. Dedicate yourself to learning and creating change. Every action counts, and no step is too small. Ask for their feedback about how you can be an advocate. Listen to and believe their stories, and take their opinions seriously. Give women and people of color the floor; reinforce their opinions, and publicly praise and amplify their ideas.
3. Allow yourself to make mistakes.
We’ve likely all said or done something at work that had an unintended impact. Remember that it’s natural to feel defensive when you mess up. At the time, you may not understand why what you said landed poorly, and even after some reflection, you still may struggle to understand. Keep an open mind, and realize that feelings of guilt, anger or shame are not productive. Let your defensiveness be a signal — focus on asking questions and taking action, rather than remaining silent. Ask, “What did I learn? How can I help? And what will I do differently in the future?”
4. Learn from other leaders.
It’s no secret that tech companies grapple with diversity, equity and inclusion — the workforce and management at most tech companies are still male-dominated. The good news is that there are leaders showing us the way to build more equitable, representative work cultures. A good example is Marc Benioff, CEO of Salesforce. In 2015, the head of human resources told him there was a problem with unequal pay across the company, and initially, he didn’t believe it. After an audit showed that there were indeed significant pay gaps based on gender across the company, Benioff corrected the disparities, to the tune of millions of dollars, and now equal pay is policy at Salesforce, and 20% of the senior leadership are women.
5. Start today.
The good news is that regardless of your role, there's no need to wait to take action. Whether you choose to start with the IAT, speak up for yourself or other underrepresented team members, or recommend diversity, equity and inclusion (DEI) training and unconscious bias training for your organization, the first step is yours to take.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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dfef96fdc7aa6ecf27a0233917a09236
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/01/30/the-future-is-now-three-hr-trends-that-will-transform-your-organization-in-2019/
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The Future Is Now: Three HR Trends That Will Transform Your Organization In 2019
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The Future Is Now: Three HR Trends That Will Transform Your Organization In 2019
Record low unemployment and skyrocketing turnover rates are presenting new challenges and opportunities as HR grapples with sourcing and keeping the right mix of talent in today’s fluid workforce environment. One recent survey found that 60% of employees plan to look for a new job in 2019, offering a clear charge for HR to up its game in attracting and retaining the best talent. HR executives will continue to embrace their change management role, counseling the C-suite that many of the HR issues that used to seem “nice to have” are now imperative.
In 2019 the choice will be simple: Understand and embrace these trends, or lose your ability to compete for talent. Here are the three areas that are particularly top of mind for HR leaders:
1. HR joins marketing in defining the company 'brand.'
Apple, Trader Joe’s, JetBlue — think of companies known for excellent customer experience and you’ll find that they also frequent “best employer” lists. That’s no surprise, since strong brands attract strong talent.
HR is in the business of attracting, selecting, developing and retaining talent, and whether you know it or not, your candidates have already formed a brand image of your company. In the same way that branding influences customers through all levels of the funnel — from awareness to trial to long-term loyalty — perceptions of an organization’s brand influence how people interact with you. This means their impressions can impact whether they apply for a job, accept a position and, ultimately, stay with the company.
In today’s transparent environment, potential employees get a picture of your company by visiting your website, reading anonymous reviews and finding out what employees are saying on their own personal social media channels. It shouldn’t be a surprise that one-third of candidates surveyed said they would decline even a perfect job over a poor cultural fit.
Managing your brand is vital to help attract and retain the right talent. HR can help create culture and drive policy, but are your employees squarely on board? You can take the lead in encouraging the company to walk its talk, and by joining forces with marketing, you can ensure that external and internal messages are aligned, underscoring the best possible employee experience.
Just as marketers prioritize the consumer experience, HR must consider the employee experience, which should always play a starring role in reward, benefit and communication strategies. For example:
• Does your company clearly and frequently communicate its mission, values and culture in a variety of channels?
• Do you leverage technology tools to build internal portals and platforms for sharing information and encouraging your employees to be your best advocates?
• Do you offer — and promote — opportunities for mentorship, volunteerism, task forces and other internal programs that can leverage employee interests and strengthen bonds across organizations and silos?
• Are you developing recruiting practices that map to your company's brand and underscore the value of a customized approach and personal touch?
2. HR will redefine diversity for the future workforce.
The term “diversity and inclusion” has, itself, become more inclusive. Today’s HR leaders are embracing a new definition of diversity to include a myriad of factors which extend beyond gender, race, LGBTQIA status or religious affiliation. Now a diverse workplace also incorporates:
• Geographic location: Remote workers who have chosen to work outside major hubs and might hail from rural or suburban towns are now interacting with urban/onsite team members.
• Generational affiliation: For the first time in history the modern workplace embraces five generations and their respective cultural norms and communication styles.
• Education levels: Some of the largest companies like Google and Ernst & Young no longer require a four-year degree, instead focusing on whether potential employees have the necessary skills.
One 2015 survey found that 33% of HR executives believed demographic shifts and increased workplace diversity will have the biggest impact on HR by 2025, yet only 34% of employees believed that management is prepared to lead a diverse workforce.
Diversity needs to permeate the entire internal and external profile of your organization. HR will need to set the tone in driving diversity initiatives across the organization, equipping managers with messaging to inform, educate, engage and empower workers where appropriate. These initiatives should be incorporated throughout your corporate policies and practices, staff training, executive presentations, social media posts and targeted recruiting efforts.
3. HR must support a flexible work culture.
Flexible work schedules and work/life balance used to be considered great perks or lavish add-ons, but today they simply make business sense. As technology has evolved and customer expectations have changed, work itself has pivoted from a 9-to-5 block to a 24-hour cycle. While that doesn’t mean employees should similarly be “always on,” it affords many types of businesses the flexibility to allow workers to work alternative schedules and engage in work patterns that best support their lifestyles.
HR can play a critical role in fostering this fluid workforce by determining best practices for flexible work arrangements that support your company’s business model, whether that’s the ability to work remotely or work during off hours.
HR will also help employees embrace flexible career paths, including horizontal and vertical career models, which have been shown to attract and retain emerging talent. This concept of “internal mobility” has been embraced (paywall) by top companies like Google and Facebook, all of which discovered that cross-functional work experience benefits both the individual employee and the company as a whole.
As HR develops policies and proceeds that will offer employees enhanced flexibility, it will lead to even more work/life fluidity, less stress and higher productivity. One recent study found that 78% of employees feel they are more productive in a flexible work arrangement.
Charging into the new year, we know that the half-life of skills is shrinking dramatically and that the right teams will be more important than ever to move critical projects forward for each business. By driving initiatives that address and anticipate the team’s needs, you and your HR team will play a pivotal role in helping your company successfully adapt to an ever-changing workplace.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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4a7dc7a86b2f418838e0ded12b2f7aa1
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/01/30/why-your-2019-focus-should-be-on-followership-not-leadership/
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Why Your 2019 Focus Should Be On Followership, Not Leadership
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Why Your 2019 Focus Should Be On Followership, Not Leadership
Some argue that the U.S. may be facing a leadership crisis. With so many examples of poor leadership within both private and public sectors, it’s sometimes hard to argue to the contrary. Despite these challenges, becoming a leader remains a time-honored tradition for most employees in today’s leadership-centric culture. But to me, the conversation always feels incomplete whenever we fail to apply the same level of focus to where all aspiring leaders come from: followership.
Aristotle is credited with saying, “he who cannot be a good follower cannot be a good leader.” I firmly believe that investing in the development of today’s followership pays dividends in the production of tomorrow’s leadership. While many continue to only focus on the first half of the leader-led relationship, I’d argue that, if done right, focusing on followership may lead to better outcomes in the long-run.
The dictionary defines followership as the “capacity or willingness to follow a leader.” I find this concept compelling because I believe, when developed properly, good followers will not follow bad leaders. If a leader’s greatness is measured by the quality of his or her followers, then high-quality followership should be held in the same regard as high-quality leadership. If followers give power to leaders through the leader-led relationship, then it stands to reason that they also have the ability to take that power away, as well.
It's been established that employees leave managers, yet many organizations continue to retain bad leaders and chalk the losses up to poor fit on the employee’s part. In today’s highly-collaborative business environments, this becomes more problematic as individuals constantly switch between leader and follower roles as organizations flatten their hierarchy and team dynamics become more fluid with increasingly project-based or gig economy work.
In an effort to identify what high-quality followership looks like, consider the following characteristics when identifying your best followers from across your organization:
• Self-directed: High-quality followers aren’t just great workers; they take initiative, adapt to changing conditions and are continuously learning or improving themselves. These kinds of followers understand what is expected of them and how their efforts contribute to the organization’s success. Lastly, they set personal goals and hold themselves accountable for the results.
• Courage: Great followers are honest, stand for what they believe in and can push back in ethically-questionable areas. They always choose the hard right over the easy wrong and speak up if or when leaders do something wrong or begin to head down the wrong direction. These followers communicate frankly and frequently with others and are willing to play devil’s advocate in order to strengthen or make sure the best idea wins.
• Loyalty: High-quality followers are loyal to their organization, their team and their leader. This loyalty to the overall success of the company makes them collaborative, trustworthy and, most of all, dependable. They frequently put the needs of others or the organization before their own and publicly support organizational initiatives and decisions.
• Judgment: Great followers use independent judgment to assess the quality of leadership decisions, consider implied tasks and recommend ideas that prevent groupthink. These followers are good with organizational diplomacy and apply high levels of emotional intelligence. They are data-driven and able to remain objective in most situations.
• Engaged: High-quality followers are willing to help out or contribute in every way possible — even when it’s outside of their comfort zone or functional specialty. They have a shared sense of responsibility for team or organizational goals and are committed to the group’s success, not just their own. These kinds of followers hold themselves accountable for their actions and typically possess large amounts of equanimity.
In summary, a unique dichotomy exists in the leader-led relationship, where followership serves as the yin to leadership’s yang. There’s no question that these opposing concepts are actually complementary and deeply interconnected. For some, followership may seem less glamorous than leadership, but the reality is that they are both critical to the success of any team or organization. Regardless of which side of the leader-led relationship you may fall, I think nearly everyone recognizes that developing high-quality followership is in the best interests of both followers and leaders alike.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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933987d062cda3c73afc9f829deb96b9
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/02/04/great-customer-experiences-start-with-your-employees/
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Great Customer Experiences Start With Your Employees
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Great Customer Experiences Start With Your Employees
The customer experience is often at the forefront of a business’s strategy, and for good reason. Even if you believe the customer isn’t always right, they’re clearly essential to success. No customers, no business, right?
The best brands know that a great experience — from product design to customer journey to digital and in-person interactions — is what customers either remember or try to forget. Brands deliver great experiences in part by genuinely paying close attention to every detail along the way. They listen to what their customers crave and provide experiences that surprise and delight.
Truly incredible brands also realize a key ingredient of customer experience is not consumer-facing. Rather, it’s inward-looking. As businesses tap the power of the digital transformation to create amazing new customer experiences, remember the people who got you there: your workforce. I believe the employee experience is the ultimate driver of the customer experience. Brands that focus their time, attention and resources on improving the employee experience know that a better customer experience is inevitable.
So, my mantra has long been that people build brands, and brands build businesses. By starting from an employee-centric approach to business, you’ll be that much closer to delivering something compelling to your customers. Here are three easy ways to start making your employees your best customer advocates.
1. Real relationships matter.
With so many digital tools to stay connected without the need for actual interaction, it can be easy to forget the importance of the human heart. Technology is having a transformative effect on our world, but we should never forget about the employees behind the keyboard who are actually doing the work.
I frequently and regularly check in with my colleagues. I ensure that I touch base with all my direct reports and key stakeholders on a weekly basis. I find Fridays are a good time to catch people to check in. Try to get to know them by engaging with them: What are do they care about outside of the office? What could we be doing better at the office? This shared experience of a real, human conversation is going to be far more revealing and effective than an email or text exchange. I find it's the best way to truly keep your finger on the pulse of the company and gain the most insight into their actual work experiences. The candor alone is valuable to the business, and the lasting friendships are truly priceless.
2. Actions speak louder than words.
If creating a phenomenal employee experience is a starting point for a great customer experience, then conversing with your employees is just the beginning. Having these conversations is essential, but you must take action in order for employees to truly believe in what they are doing. There are so many ways to take stock of your employee satisfaction and turn that into action through digital tools.
You’re probably already doing something like this with your customers. It’s time to consider ways to turn employee feedback into similarly actionable results. Helping your people win and succeed is inevitably going to help your business do the same. If you say you are going to do something, then do it, as trust comes in on foot but leaves in a Ferrari (or a Tesla may be more apt nowadays).
3. Technology remains essential.
Until now I've focused on how to build experiences with your employees in a manner that is screens down and in the real world. But that doesn’t mean technology is suddenly a no-go when it comes to nurturing incredible employee experiences. The lives we lead are forever intertwined with technology, blurring the lines that have traditionally separated work from personal time. If that means an expectation of employee flexibility at the cost of 24/7 availability, let’s at least provide best-in-class digital tools to make it as compelling and engaging as possible. We all know just how fast technology evolves.
As employers trying to attract and retain the very best and brightest, we must offer the very best in all regards. We live in a world where cloud-based applications and services can unleash employee potential instead of dragging it down, so it's key to be sure that is exactly what we are always striving to do.
As 2019 begins, it’s a good time to take a step back and think about your employee experience. If you aren’t 100% confident that your employees are having the best brand experience possible, it’s a good time to evaluate and start taking these essential steps to bring the employee experience to the forefront of your brand. Your customers will thank you for it.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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3a26f7575e444cb6de6c3356dc433c0a
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/02/08/how-five-c-suite-roles-are-being-reshaped-by-business-4-0/
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How Five C-Suite Roles Are Being Reshaped By Business 4.0
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How Five C-Suite Roles Are Being Reshaped By Business 4.0
Industry 4.0 has now given way to “Business 4.0,” the current global business environment generated by the technologies of the Fourth Industrial Revolution. Business 4.0 extends beyond the industrial sector to encompass all sectors, from financial and professional services to health care and consumer goods. So great is its influence, Business 4.0 is reshaping the roles that make up the executive ranks within organizations around the world.
Success in a Business 4.0 environment looks different from success in the past. Today, business leaders understand that they must drive digital transformation in their organizations and leverage new opportunities prompted by emerging technologies. Due to the rapid rate of technological change, it can often be a struggle to keep up. As a result, companies are rethinking their approaches to traditional C-suite roles.
Here I share with you some key ways traditional executive roles are changing to be more impactful in the new business climate.
CEOs embrace customer centricity.
The customer no longer belongs to just the chief marketing officer. Today’s entire C-suite must exude customer-centric leadership, with the CEO leading the pack. Digital technology has broken down barriers between companies and customers, leaving customers empowered with more choice than ever before. If a customer doesn’t receive the experience they want, they will quickly move on.
To be effective in the Business 4.0 climate, CEOs must build customer-centric organizations. That means CEOs must get to know their customers by leveraging data and smart customer analytics. They must constantly ask what value the customer is getting and base decisions on that. That also means today’s CEOs must have the influence and the intel to shape a customer-centric culture across an enterprise. And they must espouse through words, action and behavior that building a customer-centric culture is not a project, but rather an ongoing commitment which must be maintained through clear direction and purpose.
CHROs lead an Industry 4.0 talent strategy.
The Business 4.0 environment demands that CHROs be much more strategic than in the past. It is the chief human resources officer who will be required to build a talent strategy for Business 4.0 success. This means ensuring a team is in place that can actualize digital transformation across the enterprise and effectively implement people analytics, while embedding the workforce of the future. CHROs must be involved in managing the changes in technology that affect people, including an increasingly automated work environment where people are even integrated effectively with robotic processes.
Because the pace of change is so accelerated, CHROs must also enable cultures of continuous learning. They must be adept at understanding the competencies and profiles that will allow them to compete in the Business 4.0 marketplace. This means putting in place the structure and pipelines to support the right composition of talent. They must understand their bench strength, the capabilities of their internal recruitment teams and when to call upon trusted advisors for added support.
CFOs champion long-term investment.
The evolution of technology greatly impacts investment strategies. As a result, chief finance officers must have an eye on the long term and be fluent with new digital technologies from artificial intelligence (AI) to the cloud. Today’s CFOs must be able to create technology-focused business cases and lead the organization in managing the financial opportunities and risks associated with ongoing tech investments. CFOs also need to be able to translate the return on investment of a tech investment through predictive return-on-investment modeling.
CFOs who can be successful in a Business 4.0 environment must understand a company’s future direction, be able to translate that understanding into meaningful change and implement that change through effective tools and processes. The CFO must be on the front lines, advocating for the change an organization needs to make to digitally transform. This means the CFO mindset of yesterday must also shift to embrace agile thinking. With that comes balancing some level of risk-taking with the CFO’s more natural inclination for risk management.
CMOs become culture shapers.
The Business 4.0 chief marketing officer is often a disruptor within an organization and thus they have a significant impact on culture. They are actively questioning the status quo and always thinking through the lens of their customer. Increasingly for the CMO, that also means their internal customer. To enact change across an organization, it is critical they have buy-in on the strategy — not only with the executive team but across the organization. As a result, today’s CMOs must be able to greatly influence culture by changing engrained behaviors and approaches.
Using their abilities as communicators, CMOs must be able to simplify the strategy for transformation into believable and consistent messages. CMOs must be risk-takers and champions of innovation within an organization, but they must be able to balance that by providing a safe zone for others in the organization to get behind the vision, and that largely comes from consistent messaging.
CTOs get in touch with their commercial side.
Technology is continuously changing and as a result, today’s chief technology officers must continuously monitor the marketplace, ready to seize new opportunities. They must know emerging technologies intimately and understand the commercial advantages they can offer, while also weighing associated risks. The Business 4.0 CTO has moved away from being a technician to being commercially savvy and business focused. The CTO must be at the forefront of conversations about strategic direction and they must be able to keep pace with innovation.
The Business 4.0 environment, with its emerging technologies from artificial intelligence and robotic process automation to the cloud and data analytics, has moved CTOs center stage, requiring real-time business intelligence with the CTO responsible for delivering the systems to help organizations understand customer actions and automate responses to those actions. Like their peer, the CMO, CTOs also bear responsibility for shaping aspects of organizational culture, especially embedding a desire for constant improvement.
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56f38a1c21604cd6e44f5f6fdbfcbecd
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/02/19/want-your-organization-to-grow-cultivate-a-growth-mindset/?sh=5c55e13a19f6
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Want Your Organization To Grow? Cultivate A Growth Mindset
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Want Your Organization To Grow? Cultivate A Growth Mindset
Our company has grown really fast, and there were times when it nearly broke us. In the early days our culture was strong because we’d consciously built relationships within a close-knit team. But as 50 people quickly grew to 150 people and beyond, we had to ground our culture in more than just relationships. Fortunately, from our earliest days, we’ve helped people develop a growth mindset, and that made it possible for us to learn, improve and iterate when things got chaotic.
For those who aren’t familiar with the growth mindset, think of it as the belief that abilities and intelligence are never fixed, but are always being developed. Embracing this approach can have a dramatic effect on motivation, effort and how people perceive challenges: If every mistake you make is progress, you stop worrying about failing. I believe it’s the job of leaders to actively help our people fulfill their potential by fostering the environment in which they can develop.
Managers and leaders who want to build their organization's growth mindset culture can do so by incorporating practices like these into company culture this year:
Build (people) for the long-term.
Having a growth mindset from the get-go is crucial for longevity, so hire people who show they can think this way. Because the mindset often needs to be encouraged, not everyone will have demonstrated it in their previous role — many places make it very difficult to embrace. In initial interviews with candidates, be sure to ask questions that dig into their core beliefs about growth and learning in all parts of their life. I believe this is the best predictor of a growth mindset.
Once they’re on board, nurture a growth mindset by making it easy for people to make career changes internally. Because constant learning is so important, encourage people to think of their career as a jungle gym, switching jobs or responsibilities within the company as they want to develop new skills. If you want to keep your strongest talent, you have to help them stretch their abilities and minimize the risk in doing so. So, offer opportunities based on their past impact and, especially, their potential.
Know that this doesn’t always work out. To lower the risk and make failing OK, refrain from changing a person’s title until they’ve spent some time in the new role and you both decide that it’s the right fit going forward.
However, role changes aren’t a guarantee, and you need people to thrive on change every day. Try to regularly nudge people to try new things, instead of staying safe and avoiding risk. And when this fails, talk about it openly — what worked, what didn’t and how you can grow and improve from it. By this point you may no longer feel the weight of the failure, because you will have learned so much from it that it now feels like a stepping stone to success.
It’s important that you celebrate learning experiences as much as the things that went according to plan. This starts with leaders being open about their failures or moments of breaking — sharing them at town halls, project retros and internal summits — and encouraging others to share their stories too.
Help employees own their own development.
While it's important for leaders to make growth as easy as possible, it’s critical for people to own their personal development story. There are no one-size-fits-all solutions, so people need to decide what their goals are and what development means for them. Leadership's role is to empower people to take ownership of their growth paths and then provide support when they want it. But at the end of the day, every employee is accountable for their own growth.
At our organization, we encourage this by offering coaching services to all employees to dig into personal and professional challenges, by stocking our free “book bar” with books we think will help people grow (and watching people form book clubs about them), by producing internally created podcasts that share stories of successes and failures and by subsidizing courses people want to take, whether they’re directly related to their work or may be some day. Efforts like these encourage people to always be improving themselves — and it’s fun to work with people who share this passion.
Foster a learning culture.
The best teachers are people’s peers. That's why we host several of our own internal conferences, where people can teach and inspire their co-workers. Throughout the year, you can make it easy for people to create formal peer-to-peer training and encourage everyone to share their work frequently, so that others can benefit from what they’ve learned.
Every few months, we break from “commerce as usual” to immerse ourselves in a two-day, companywide experiment called “Hack Days.” It’s a time to jump into (or start) a project that people are inspired by and helps us all improve in some way. Hack Days is all about building something awesome in a short time frame — if a person’s idea or project doesn’t work out, they’ll probably learn something from the experiment.
Practicing a growth mindset sets organizations up for long-term success. In order to be a 100-year-old company, the company culture has to make it easy for people to be curious and always focus on learning. By adapting and innovating so they can personally improve, people increase their impact on the company. You can’t know what the future will bring, but if you want to be a better company every year, you need to help all your people be better every year, too.
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7edb56124ef44391af9c76e12251170a
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/02/22/nine-big-changes-that-have-shaped-the-modern-recruiting-process/
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Nine Big Changes That Have Shaped The Modern Recruiting Process
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Nine Big Changes That Have Shaped The Modern Recruiting Process
As new generations and technological innovations disrupt the workforce, the recruiting and hiring processes are subject to change right along with it. This directly affects HR departments, who are responsible for handling these crucial tasks.
Keeping up can feel daunting, but it doesn’t have to be. We asked a panel of Forbes Human Resources Council about the latest industry trends and how they've adapted to those changes. Here's what they had to say.
Recruiting experts weigh in. All photos courtesy of Forbes Councils members.
1. Consumerization Of Recruiting
Candidates are more like consumers than ever. The focus on delivering a great consumer-like candidate experience is now a must. From an easy job application process to timely and personalized communications, every moment of the recruiting process matters. Audit your candidate experience from the candidate's point of view to ensure your approach is people-focused, relevant and memorable. - Alina Shaffer, LivingHR, Inc.
2. Relationship Management
Create a relationship with them right from the beginning. Similar to how inside sales reps reach out to prospects, recruiting requires a steady stream of drip campaigning and constant contact. Today one of the most successful ways we are finding talent is through the use of relationship management software. In the Bay Area, top talent are often passive, so we have to go find them and connect. - Bianca McCann, Trifacta Inc.
3. Mutual Evaluation
We’re moving away from a mindset of “the candidate is lucky if we hire him/her” to there being a mutual evaluation. The company has to impress the candidate too. To address this, we’ve put more emphasis on the candidate experience, from the very first interaction onward. - Laura Hamill, Limeade
4. The Need For Speed
My top three answers: speed, speed and speed. The recruiting process has dramatically accelerated through the use of online platforms, chatbots, AI, mobile technology, etc. With it, candidates expect a quick response and hiring process in days, not weeks. The best strategy for hiring managers: understand the need for speed during the interview and job-offer stages, and act accordingly. - Genine Wilson, Kelly Services
5. Clear, Established Hiring Processes
Hiring used to be as easy as the "good ol' boy" system. However, in this day and age, it is important to have a process in place and follow it through. From competency interviews to automated screening options, there is a plethora of tools for the modern recruiter to use in their hiring process to identify top candidates. The best innovation in this industry is your brain, though — use it wisely! - Adam Mellor, ONE Gas, Inc.
6. Technology Awareness
From newspaper and paper job boards to directory search-based recruiting, or from a resume database to today's AI-driven hiring, recruiting/HR has seen significant innovation over the past 40 years. Reading the news and integrating technology awareness into your daily routine is one way to keep pace with innovation. - Steven Jiang, Hiretual
7. Prioritization Of The Candidate Experience
One of the biggest changes in recent years has been the importance placed on providing a great candidate experience. Technology has made it much easier to connect job seekers with open positions. This, combined with the current strength of the job market, makes it important to treat every candidate well, especially because those who aren’t ideal for one position may be perfect for the next. - John Feldmann, Insperity
8. Planning The Process Around The Candidate's Point Of View
Throughout the last 10 years, recruiting has become more automated and with hundreds of tools to select from, I have kept my strategy simple. What is the experience I would want if I were seeking a position? When I approach my program and processes in this way, thinking like a candidate and understanding how to get out of my own way has been the key to building and selecting the right tools. - Maximo Rocha, CSG Systems Inc
9. Greater Efficiency, But Decreased Humanization
When I started, it was all faxing resumes and cover letters, with special emphasis on education (sometimes the only requirement). Now cover letters are mostly outdated, resumes are often computer-read by keyword density and placement and it’s all become very technology-driven. It’s more efficient, but less humanized. I keep up with these changes by reading and attending conferences. - Nicole Smartt Serres, Star Staffing
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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a801516518808503c0c83c533ce8c880
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/02/25/how-to-investigate-and-craft-persuasive-recommendations-in-response-to-employee-complaints/
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How To Investigate And Craft Persuasive Recommendations In Response To Employee Complaints
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How To Investigate And Craft Persuasive Recommendations In Response To Employee Complaints
When an employee files an internal workplace complaint, the resulting investigation is an important employee relations risk management tool in the company's response protocol. Done properly, investigations are instrumental to avoid litigation, provide defenses to employers and help mitigate any possible damages. Alternatively, employers who fail to investigate complaints — or who do so inadequately — may expose themselves to greater potential liability in ensuing lawsuits and agency proceedings. Therefore, understanding not only the mechanics of a good investigation, but also how to influence and persuade around its recommendations, is key.
One of the primary elements of a proper investigation is coming to a recommendation that is discussed with key stakeholders. There are a few important components of making a recommendation:
1. Reviewing the evidence and reaching a conclusion about whether a policy violation occurred.
2. Evaluating the proper response to the findings (i.e., if a violation has occurred, deciding what action will balance business needs with legal exposure, reputational risk and employee welfare and engagement).
3. Influencing corporate partners and decision makers to adopt one’s recommendation.
In most organizations, the human resources team will issue an investigatory recommendation, rather than a directive or order. The corporate partners and decision makers will be best persuaded to adopt the investigator’s recommendations when the investigator is well able to communicate the relationship between the evidence that they have gathered and their findings. A number of factors play into this. They include, but are not limited to the consistency (or lack thereof) of the evidence, the credibility of the witnesses (body language, apparent motives, level of willingness to share, etc.) and the nature of the objective data.
Additionally, critical to influencing others is crafting a recommendation that makes sense, given the context of the situation. The recommendation should be in line with precedent around how similar matters were dealt with in the past. To ensure such alignment, the company should already have a reliable system in place for finding and reviewing past cases. Failure to achieve such consistency can lead to claims from the accuser that their claim, though substantiated, was not treated as seriously as other similar claims. Surprisingly, perhaps, inconsistency can also lead to a claim by the accused that they were much more severely punished for a similar offense than others had been previously due to a protected characteristic they may have (i.e., race, religion disability, etc.).
In addition to looking at past precedent, the investigator should also consider the seriousness of the initial complaint, the danger of recidivism, the risk to other employees and the accused’s disciplinary record, other history with the company and attitude about the offense. Creative recommendations that balance business needs with the human resources process will often be most appreciated.
While strong evidence and a creative, well-crafted recommendations are necessary, pre-existing cultural and political capital are golden. The investigator’s recommendations will receive the most favorable response when there is strong leadership at the head of the human resources department and when there are strong strategic partnerships, as with general counsel or the legal department. Additionally, internal, established relationships with business leaders help promote acceptance of human resources’ guidance.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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3272bb7de118b8101d12d333ba397253
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/02/26/three-ways-to-ensure-hr-processes-motivate-and-serve-employees-not-just-hr/
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Three Ways To Ensure HR Processes Motivate And Serve Employees, Not Just HR
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Three Ways To Ensure HR Processes Motivate And Serve Employees, Not Just HR
Employee motivation is mission-critical for any organization, from startups to well-established companies. Motivated employees tend to align the company’s purpose with their own, demonstrate more innovative problem-solving and drive more impact. I’ve learned that if your organization isn’t actively working to ensure employees are motivated, engaged and aligned with your mission, you risk falling behind the competition and staying there.
One of a startup’s biggest advantages is that it’s easier to motivate small, tight-knit teams and continually align and realign them around ever-changing priorities. As companies grow and age, it becomes increasingly important and difficult to ensure that their culture clearly reflects their purpose and that it motivates strong individual and group performance. Processes such as goal setting, reviewing and managing performance, and recognizing achievement either build upon or chip away at the strength of the company’s culture.
That said, after developing and growing performance-focused cultures in multiple high-growth organizations, I know that it’s never too late for a company to change its approach. Whatever size your business is, you can start creating a more engaged and motivated workforce by doing the following three things.
1. Develop a philosophy of performance.
When a majority of employees express a sentiment that performance reviews are little more than a needless HR requirement, it’s a sign that companies aren’t giving enough thought to the process. This is often a result of workers feeling that their day-to-day activities aren’t impacting the mission of the business. Motivation doesn’t come from perks like Ping-Pong tables, free lunches and unlimited vacation; it comes from continuously nurturing a sense of purpose that unifies managers, employees and the entire organization.
A performance-driven culture demands a performance philosophy. Make a commitment to align individual goals to the company’s overall strategy and have more frequent performance-related conversations that focus on career development. Share this philosophy plainly and clearly with everyone.
2. Make the performance discussion valuable for employees.
Annual reviews fail to deliver on one of the primary purposes of any performance-management program: nurturing sense of purpose or sustained motivation in employees that allows them to meet today’s goals and be ready for tomorrow’s challenges. Motivated team members have a clear understanding of how their work impacts the company’s performance. It’s essential that employees can link their individual objectives to the monthly, quarterly and annual priorities set by the business.
Critical to this is giving HR, managers and employees the tools to allow everyone to see the business’s key objectives, connect these with our own objectives and track our progress toward achieving them. This transparency gives everyone a stake in the process and tangible evidence to prove that what they are working on is what really matters.
3. Talk more.
Once you’ve linked each individual’s goals to the wider business objectives, the impact of one person falling behind becomes obvious. You can’t hang around for that end-of-year performance review to see how everyone has done. Instead of those time-consuming, weighty annual reviews where feedback and assistance often come too late to be useful, encourage more frequent light-weight conversations.
Managers will tell you that they check in with their direct reports all the time, but the reality is that most don’t have conversations with their reports nearly enough. When they do occur, these conversations are usually about day-to-day tasks and rarely touch on the wider goals and development opportunities. To break this cycle, I encourage managers to hold short monthly conversations, that they can incorporate into regular one-on-ones, where they would ask three simple questions around goals: 1) What do you need more of? 2) What do you need less of? 3) How can I help?
Following this formula allows timely course correction that keeps work on track. You shouldn’t expect perfection from the start; people need practice giving and receiving feedback with regularity to become effective at it. In my experience, most managers either want or need additional help when it comes to coaching employees and teams toward improved performance. That said, I believe that frequent, short, even awkward conversations are better than not purposely touching base on performance at all. With each month, the discussions become smoother and more valuable for both the employee, the manager and, ultimately, the business.
No matter where your company is on the growth curve, creating a performance-driven culture that provides purpose and encourages communication will help you retain and motivate your best employees — and that will keep your business ahead of the competition.
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7ca806f3daff0c62cebf1018596ba473
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/03/04/the-hyper-personalization-of-hr-services/
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The Hyper-Personalization Of HR Services
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The Hyper-Personalization Of HR Services
The dynamics of the global workforce are changing. In this new marketplace exemplified by the successes of Uber, Airbnb and Etsy, no Uber driver is ever directed on “where” or “when” to work. Here, the promise of flexibility engages a next-generation workforce, which might not necessarily be on a company’s payrolls, but is always available on demand. In fact, a Bureau of Labor Statistics report found that in 2017 there were roughly 20 million workers who had either “contingent” or “alternative working arrangements” in the U.S.
In this next-generation workplace, how can human resources managers bring together the efforts of a diverse workforce that engages with an organization in different ways? I believe the solution lies in the two-way flow of information in today’s always-connected world that enables organizations to create targeted, customized and hyper-personalized employee experiences. Just as companies such as Facebook, Starbucks and Amazon have already delivered hyper-personalized user experiences that build loyal customer relationships, I believe hyper-personalization will both transform how organizations engage with employees and signal profound implications for organizations of the future.
As an HR leader in the information technology industry who has participated in the emergence and evolution of the global IT services industry over the past three decades, I know that today's technology offers us a unique opportunity to transform how organizations engage with employees. It is indeed the “next” in the personalization of HR services.
Applying Hyper-Personalization To A Diverse Workforce
Today, global HR leaders manage a diverse workforce — with Generation Z, millennials and Generation X all rubbing shoulders. I believe retaining skilled talent from this diverse mix is important. I expect that hyper-personalization of HR services across the employee life cycle within an organization will address this challenge. Let us consider how it can be introduced across multiple organizational touch points — in employee engagement, learning and career advancement — to select and retain the best employees.
Employee Engagement
A top priority for global HR leaders is effectively engaging their diverse workforce. A 2018 Gallup study indicates that only 34% of U.S. workers are actively engaged in their workplace. Clearly, hyper-personalization offers organizations a real solution that begins at recruitment and continues throughout the employee life cycle.
I anticipate that a growing number of organizations will increase the efficiency of recruitment processes through hyper-personalization by approaching the right candidate at the right time with a customized recruitment strategy. Leaders can also use data to create work environments for a changing workforce. For instance, should your company invest in a new car park, flexible work policy or pet-friendly office?
Subsequently, I believe how companies measure and manage employee satisfaction will also change. It could finally be time for us to bid farewell to the cumbersome, annual employee engagement survey. A hyper-personalized approach implies that organizations would monitor employee satisfaction on a regular basis, so consider implementing one-minute surveys when they log into their systems in the morning. This way, you're creating agile organizations that are in tune with employees’ concerns and can deliver fast responses.
Learning
Organizations are focusing more keenly on learning and development than ever before. Industry reports even indicate that in 2017, U.S. companies spent over $90 billion on training, a 32.5% increase from previous years. The emphasis is also shifting to lifelong learning. For instance, AT&T has been focused on upskilling its employees and providing its workforce with the skills needed for new jobs. Imagine if your organization could also proactively recommend the most suitable training for its employees, based either on its past learning or future projects. That’s what I believe learning in a next-generation organization should look like: automatic notifications that invite customers to make purchases based on their past history.
Personalization Of Compensation And Benefits
With hyper-personalization, I believe there is a huge opportunity to personalize compensation and benefits to match the needs of employees based on their life situations. Empower your employees to collaboratively structure their compensation by determining their risk and investment in the company or choosing to be compensated in either equity or cash. Similarly, offer benefits that are most suitable for their life situations. For example, some organizations already have flexible components for childcare, wellness or even pet care, which can be built into compensation structures based on an employee's lifestyle. But the challenge would be to build systems that provide for such flexibility. In next-generation organizations, I believe systems would have to be built or altered to provide such flexibility, such as incorporating an algorithm that can enable organizations to offer employees a customized compensation and benefits structure.
Career Advancement
As some companies redesign their performance management systems, the approach to performance management faces a paradigm shift. A 2016 survey found there is a quest for career personalization within the next-generation workforce. Hyper-personalization could reward performance with promotions that genuinely match employees’ aspirations. In my view, another pressing concern in organizations with high attrition rates is the threat of a leadership vacuum. Now, hyper-personalization offers organizations the opportunity to proactively identify leaders of the future and offer them a customized training program, personalized both to their needs and the ever-changing requirements of the industry.
For all these reasons, I believe that hyper-personalization offers organizations a real solution that addresses employees’ changing expectations in a digital world and enables organizations to stay ahead. It drives the “next” in talent management by facilitating engaged, motivated and committed employees while using information to aid decision making.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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674d2a5f221d2cf9f49f6c40733064e9
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/03/08/exiting-gracefully-why-investing-in-attrition-matters/
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Exiting Gracefully: Why Investing In Attrition Matters
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Exiting Gracefully: Why Investing In Attrition Matters
We make a promise to our people: Whenever you join, however long you stay, the exceptional experience you'll have with our company lasts a lifetime. To deliver on this promise, we take an inclusive approach.
In short, it’s not enough to focus on hiring, training, supporting and developing the people who join your organization. You must do the same for those whose career journeys take them beyond your firm.
Relationships Shouldn’t End With A Departure
HR is in the people business, and relationships are the thread that binds us in the workforce. Although investing in attrition might seem counterintuitive, it’s got a powerful return on investment that’s often overlooked.
A person's experience in an organization determines his or her desire to keep a connection to it and opinion of it after leaving. Essentially, all employees are future alumni. So instead of viewing exits as the end of the relationship, what if you viewed them as a strategic and invaluable part of your lasting relationship?
At our firm, we’ve seen the tremendous impact of supporting and championing people as they explore external career options. By investing in career transitions, it's possible to create a network of lifelong advocates, ambassadors and buyers of your services. It’s doing what’s best for your people, and it gives any organization a strong competitive advantage in the marketplace.
In today’s transformational world, it pays to deferentially invest in the career transitions of senior managers exploring career options inside and outside of the firm, and your retiring leaders looking to plan their next chapter. Senior managers are generally on the cusp of Gen X and the millennial generation, with 10 to 15 years of career experience. They’re more plugged in than any other generation before them. They want to explore opportunities and find work they’re passionate about — work that will help them develop into leaders of the future.
Not all senior managers aspire to the traditional goal of making partner. Sometimes, the experience they seek will exist outside of your organization. They’re personalizing their career paths like never before, so it makes sense to build a bridge connecting them with a world of opportunity beyond your company.
The baby boomer generation is starting to retire in droves, with one estimate stating roughly 10,000 men and women will turn 65 each day for the next 10 years. But this group isn’t just leaving the workforce — they are changing the meaning of retirement, with many seeking board appointments or consulting work, or moving on to new roles elsewhere. For retiring leaders who might have spent 30 or 40 years with the same firm, endings can be especially challenging. HR teams may realize there is more they could do to empower and equip them for what comes next.
• Help your people look before they leap: When deciding to make a major career change, the tendency is to jump right in. Instead, encourage your people to pause and think about their strengths, values, passions and career goals. Creating a vision of what success looks like in the next stage will help ensure they land in the best place.
• Make sure they’re purpose-driven: Having a sense of purpose means greater fulfillment and satisfaction, and purpose-driven leaders create a better working world. But identifying one’s purpose doesn’t always come naturally — or easily. Provide opportunities for your people to discover and activate their purpose. For example, our Future Directions program for retiring leaders includes workshops and executive coaching that help our people uncover what matters most in their lives.
• Establish the right resources: Supporting career transitions requires the right resources. Provide confidential career coaching, facilitated networking, market opportunity insight and career-planning resources to senior managers and alumni exploring career options. While creating a career center may not be feasible for every organization, it is possible to establish an environment where open, honest career conversations are the norm. Start by equipping your leaders with the skills to engage in transparent and supportive career discussions with their people.
Designing your exit models around these three principles can help create smoother transitions and lasting, trusted relationships that will facilitate continuing to do business together — regardless of whether people work under the same roof. Most importantly, you’ll be helping your people find the place where they can make the greatest contribution, which is a win for both of you.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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a69a708e0b869971424e9b9133c86788
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/03/14/the-causes-and-consequences-of-ghosting-in-todays-job-market/
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The Causes And Consequences Of 'Ghosting' In Today's Job Market
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The Causes And Consequences Of 'Ghosting' In Today's Job Market
Much attention is being given to the increasing number of employees who are quitting their jobs without providing their employers with notice. Also referred to as “ghosting,” recruiters are experiencing a similar trend among candidates who have failed to show up for job interviews or the first day of employment, without so much as a phone call.
Many blame the recent increase in ghosting on the strength of the labor market, with the unemployment rate dropping to a 49-year low at 3.7% in September and remaining the same in October and November. With the number of job openings far surpassing the number of job seekers, employees and candidates feel a sense of empowerment as the scales tip in their favor. But aside from the numbers and statistics, what is the motivation behind their actions, and what are the consequences?
Adjusting To The Power Shift Of A Candidate’s Market
The influx of new job openings has not only given employees and job seekers a number of options they haven’t had in decades, but it has also empowered them to demand better treatment from employers and recruiters. Why settle for a toxic work environment or deal with a nonresponsive recruiter when there are so many other employers that need to fill similar positions? A colleague recently wrote of the retaliation many employees experience or fear from management after providing their two weeks’ notice of resignation. Rather than deal with unwarranted retribution from a vindictive boss for simply trying to do the right thing, many employees have chosen to just walk away.
Furthermore, it’s long been a practice of some employers to lay off employees who are no longer needed without providing any advance notice or time to look for a new job. Employers and recruiters alike often neglect to notify candidates who interview for positions but aren’t selected, failing to provide so much as a phone call or email as a courtesy for taking time out of their schedule. Now, the strength of today’s job market has shifted the balance of power, and many employees and job seekers relish the opportunity to treat employers and recruiters with the same indifference they have experienced in the past.
The Consequences Of Ghosting
Many workers who leave their jobs without providing notice to their employer show little fear of the consequences. Not only are there currently ample employment opportunities, but as Austin Kaplan, a Texas employment lawyer, explained to The Washington Post: A permanent record of exit history, friendly or unfriendly, does not follow employees throughout their career. Additionally, many employers are reluctant to provide bad references for former employees based on the fear of potential litigation for defamation. Regardless, I believe there are still a number of reasons why employees and job seekers should pause before ghosting current and prospective employers.
1. Respect: Probably the strongest argument for not ghosting an employer or recruiter can be summed up in one simple word. When climbing the corporate ladder, the Golden Rule applies — always treat others in the same way you would want to be treated. Unfortunately, there are some who find career success by stepping on others, but there are far more who destroy opportunities with similar behavior.
2. Reputation: Though there may not be a detailed record of how employees left previous jobs attached to their employment history, that doesn’t mean their reputation won’t precede them. Many industries are smaller than they appear, and leaders of one company often know those of another. If employees are perceived as disrespectful or inconsiderate, word can spread quickly, causing them to regret their actions. A tarnished reputation can not only make it difficult to do business with former employers or coworkers, but it can also make it hard to obtain referrals or recommendations or to work with recruiters whose applicant tracking systems contain detailed notes on ghosting past interviews or positions.
3. Uncertain future: The job market is unpredictable, and just because it’s strong now doesn’t mean it won’t take a downturn in the future. Employees and job seekers who burn bridges with employers and recruiters may regret it if the tides turn and they find themselves looking for work in an employer’s market. If two candidates with comparable skill sets and work experience are being considered for hire and one is known to have ghosted a former employer or recruiter, employers will likely consider this a deciding factor.
While employees and job seekers are ghosting employers and recruiters with more frequency and less inhibition than in the past, the uncertainty of the future job market, as well as the preservation of one’s personal brand, should provide enough reason to reconsider. Unless the relationship with management is so toxic that providing advance notice of departure could harm the employee or his or her career, doing so shows integrity by giving the employer adequate time to hire a replacement and leaves the door open for future business, referrals and positive references.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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aea512813635c54d8311a5e708c8f02b
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/03/26/the-importance-of-establishing-company-core-values-and-how-to-define-them/
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The Importance Of Establishing Company Core Values -- And How To Define Them
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The Importance Of Establishing Company Core Values -- And How To Define Them
Company culture is increasingly becoming a differentiator for organizations of all sizes and across industries. A positive, productive culture has the power to make prospective employees and customers want to partner with you, and — just as important — stay with you for the long term. And the benefits don’t stop there: Over 50% of executives now agree that corporate culture can influence productivity, creativity, profitability, firm value and growth rates.
But while it’s usually easy to describe what your company does, as in the products and/or services it provides, it’s not always as easy to define your culture. That’s because culture is intangible. It’s a feeling present in the workplace and throughout the company, and it can even reach people outside your walls.
How can you capture that unique feeling and focus on preserving your great culture, or improving it, as you grow your business and welcome more people to your team? By identifying your company’s core values, you can better define your culture — your greater mission and reason(s) for existing as a company, beyond the tangible products or services you offer.
Here are key strategies for establishing your company’s core values and ensuring your people, from new hires to tenured employees, know the traits that define and exemplify your culture.
First: Identify Key Traits That Describe Your Culture
The first step in establishing your company’s core values is to identify a list of key traits that accurately convey your culture. Said another way, if your culture were a person, how would you describe its personality? Whether you’re a startup or a longstanding company, certain words and traits should come to mind immediately.
Because culture is companywide and inclusive, it’s crucial to bring together a diverse group of individuals from across your company to help define your culture. This committee should represent all areas of your company and include employees at all levels — not just executives and managers, but also frontline employees, product developers, customer service representatives and even part-time employees, temps or interns. Also consider adding customers or employees from partnering organizations who’ve worked with you and are familiar with your company.
Once you’ve assembled your core committee, host brainstorming sessions where all members have opportunities to contribute their thoughts. Pose the “If your culture were a person” question, and similar questions such as, “Which celebrity does your company most resemble?” Most importantly, ask why. Gather a list of the most common or repeated answers, recording not just words but also phrases and descriptions that describe your culture. Similarities in responses are a sign of your culture’s strength and prevalence among employees. By the end of these sessions, you should have a representative list.
Next: Narrow The List To Establish Your Core Values
After you’ve collected a list of company traits and descriptions, it’s time to distill the list to define your true core values. Share the traits with employees and ask for their feedback. If your company is small, town halls can provide great interactive venues for this discussion. For larger companies, conducting companywide employee surveys can help gather feedback and gauge employee sentiment about your list, and your culture as a whole, at scale.
Identify which core values most resonate with your employees. Though there’s no “magic number” on how many values to choose, it’s best to narrow down your list to about 5 to 10 values that best describe your culture. Remember, these are core values. It’s not meant to be an exhaustive list of personality traits, but only the main pillars of your culture.
Finally: Share Your Core Values Companywide
When you’ve established your set of core values, the last and most important step is to share them. Work with your original committee to create an internal rollout campaign that will help market the core values to your employees. The goal shouldn’t be to “sell” the values, but to inform. After all, core values should already accurately describe your culture, and employees should already embody these traits.
As part of the launch campaign, consider creating a mnemonic device or an acronym that will make the core values easy to remember. For instance, at Ultimate Software, we are S.T.R.O.N.G. (Selfless, Thinkers, Relentless, One, Nimble, Genuine). Create a brand for your core values, as you would for your products, services or company itself. Choose a look and feel that’s authentic to your culture and supports a message your employees will take pride in sharing. Also find ways to incorporate visual elements in your final branding. For example, if your culture is fun and work-life balance is key, then use colors and images that convey those qualities.
Keep your employees informed through a series of communications, tailored as needed. Prior to the rollout, inform executives and directors of the forthcoming campaign, and describe the elements you plan to include. On launch day, announce the core values companywide, and share any supplemental materials branding the campaign.
Your overall budget will determine the size and reach of your campaign. You might create a video featuring your own employees describing or acting out your values, hang posters or paint murals in the halls of your offices or create and distribute branded items such as T-shirts, mugs and decals prominently featuring your core values. These all help instill a greater sense of pride throughout your company and serve as great reminders of the core values employees should strive to embody every day.
Share Your Values With the World
Once you’ve shared the core values with all your employees, it’s time to debut them publicly. Tell your customers. Showcase the core values on social media. Share them with prospective customers and job candidates visiting your office.
Be proud of your core values: This is your culture. It’s what makes your company one of a kind, beyond your products and services. It’s your reputation, the qualities people think of when they think of you. It’s why people want to join your family and support your mission.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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2cf06dc13d40e3a872d39738b6ec01bc
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/03/27/why-silence-is-being-heard-in-the-corporate-world/
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Why Silence Is Being Heard In The Corporate World
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Why Silence Is Being Heard In The Corporate World
Most of the time, many of us actually enjoy the hustle and bustle of work. Most of the time.
But let’s be honest, having a busy career can wear on us. If we don’t take the time to connect to ourselves, we begin to function purely from our head and barely with our heart. This one-dimensional decision-making can sometimes lead us down a wrong path.
We all agree that business decisions should be made using data and information, in other words by using our head. However, we also accept that sometimes we have to couple our analytical approach with our heart: passion, emotions, interest and intuition. But busy calendars, numerous responsibilities and the resulting stress can often prevent this from happening.
For this reason, the idea of silence to start business meetings is catching on throughout the corporate world. In fact, leaders at Amazon have been using "silent starts" for some time to commence some business meetings. But even one minute of silence allows meeting attendees to recover, recharge, reconnect, refocus and reset their brains. It enables us to align and balance our mental and emotional intelligence.
Think about it: How many times have you rushed from one meeting to the next, only to be hurried and distracted by the time you walk into your new meeting? Your mind is racing and your heart is pounding and yet you have to be ready to contribute to a new hour-long discussion.
Bastian Overgaard, a Danish thought leader on the impact of silence in meetings and a colleague I’ve talked with at length regarding the impact of silence, has extensively studied silence at work and reports that it helps leaders to lead better and employees to be more productive. He states that silence can have a dramatic impact in improving our memory, learning capability and emotional intelligence. Having facilitated silence in meetings at the corporate level for six years now, I can only agree.
Each time we engage in a moment of silence, we’re afforded the opportunity to recharge our human batteries to enable us to better utilize our faculties. This can result not only in greater contributions in the forthcoming meeting, but stronger production during the workday, quality decision making and improved sense of happiness at home as well.
To get started, there are many ways leaders and meeting hosts to introduce a minute of silence. There are no strict rules to abide by, but rather each meeting participant should be given the freedom to do as they please during the one minute. Participants can have their eyes open or closed to simply relax, meditate or discover their breath. Whatever path a participant takes, all attendees share a common goal: relaxing to find inner balance, focus and connection. The only instruction to adhere to is “silence.”
One point of consideration should be noted for people engaging in a moment of silence for the very first time: Even though it’s “only” a minute, the meditation can feel uncomfortable, at least at first. We live in a fast-paced society made up of a mosaic of noise. Our lives are intertwined with constant stimuli from television, music, social media, traffic — not to mention the pressures of work demands and family obligations. Silence can take us away from all this and let us sit quietly and enjoy the healthy benefits of silence.
When you interrupt that go-go-go lifestyle with a break of relaxation, it can be a high dose of meditative therapy that many aren’t used to experiencing. I often hear from people who just completed their first minute of silence, and many share the same sentiment: “Wow. I can’t believe how long that one minute was, but it was very relaxing.” And the first reaction from many more is, “Thank you!” Attendees usually transition from the one minute of silence into the meeting feeling more refreshed, better energized and more alert and focused.
Drawing from my team's own implementation, here are a few ideas that can help you institute your own moment-of-silence routine:
First, it’s important to set realistic expectations to understand that changing meeting habits is an active process that won’t happen overnight.
Second, accept that there will be some resistance from meeting attendees. Invite people; don’t force the silence onto people. Simply state the benefits and provide encouragement, allowing those who are hesitant to join in at their own pace.
You will forget to commence some meetings with silence. If you do so, pause the meeting, admit to the oversight and take a minute out for a moment of silence. The key is to make silence a commitment and to remain persistent.
Start small. Begin with a moment of silence for meetings within your own department and for weekly meetings. Word will begin spreading throughout the company and others will be curious to see the effect. Better yet, they’ll be more willing to try silence in meetings when the idea comes around to their department.
And finally, do just that: Move your silence initiative onto more meetings and other departments to help others in the company enjoy the benefits of silence.
In the end, employees will get used to, and even look forward to, the opportunity to reset their brains and calm their minds during a busy day. Once they understand that silence enables them to make higher-quality business decisions, improve focus and clarity, and connect their hearts with their minds, they’ll cherish the one minute of silence at every meeting.
Nevertheless, let us remember a very important aspect about a moment of silence: Silence is golden, as they say, and it’s not about being quiet per se, but rather about soothing our attentive mind and relaxing our inner soul, at least for one precious minute during the workday. And the benefits from that single minute are plentiful — just ask your heart and your mind.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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a70ab35cb0064426f6572500947131de
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/04/15/14-hr-pros-explain-how-to-overcome-common-new-manager-challenges/
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14 HR Pros Explain How To Overcome Common New Manager Challenges
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14 HR Pros Explain How To Overcome Common New Manager Challenges
Many professionals want to climb the corporate ladder and assume a leadership position. This transition is rarely an easy one, though: First-time managers face a lot of challenges, such as navigating their new team dynamic and developing talent on their staff.
Without the right help and guidance through these issues, a newly promoted leader may not be as effective as they could be. While they often receive training from their direct supervisor, it's important to let them know that HR can help, too. According to Forbes Human Resources Council, here are some common new manager struggles that a company's HR department can assist with.
Leadership experts share key advice for supporting new managers. All photos courtesy of Forbes Councils members.
1. Handling Employee Issues
One very common challenge is managing other people, their work and your own work all at the same time. Employees who climb into management typically don't have experience with handling employee issues and easily become overwhelmed in their new position. They forget to understand and practice HR laws daily, and HR is there for guidance. Don't feel afraid to pick HR's brain! - Tiffany Jensen, Pure Grips
2. Lack Of Leadership Onboarding
Every new manager should know that HR is not only hiring and firing, but rather a true partner for them. The partnership should start by offering new leader onboarding, where they are given access to tools and training needed to make the change from leading self to leading others. Daily tasks and compliance expectations change, and working with their HR partner will ensure a smooth transition. - Sandi Wilson, FinTek Consulting
3. Their First Firing
I think one of the biggest challenges new managers struggle with is their first layoff. Many new managers dread it — between the anxiety felt during the notification or restless nights that lead up to it. I wish new managers knew that HR is not only here to support them through the process, but also here to help address the negative post-layoff emotions felt by many of the remaining employees. - Dr. Timothy J. Giardino, Cantata Health
4. Building Trust With Their New Team
Going from peer to leader is challenging. Take advantage of leadership courses, mentoring programs and coaching from HR. Work to build relationships with your teams. Many times new leaders are so anxious to hit the ground running, they don't have the patience to build trust first. Without trust, there is no team. There are just individuals who coincide together doing work. - Lotus Buckner, NCH
5. Navigating New Team Relationships
It can be tough to manage people who were peers and friends before you became their manager. You may wonder how to give them direction and hold them accountable. Your HR partner has helped many managers in similar situations. Ask if she can introduce you to someone who transitioned smoothly into a new manager role. Then, take them to coffee and ask how they successfully navigated the change. - Mikaela Kiner, Reverb
6. Communicating With Different Learning Types
Managing a team requires communicating information, and not all team members learn in the same way. There are visual, auditory and kinesthetic learners who internalize information differently, and new managers may not be familiar with the various learning styles. Employers should provide communication training to new managers, and managers shouldn’t hesitate to request it if it’s not offered. - John Feldmann, Insperity
7. Asking For Help
New managers must remember they are employees too and it is okay to ask for help. The most important thing new managers can do is ensure the team understands expectations/roles with consistent feedback. We all do not need to be the expert on all things. New managers can seek advice and counsel from HR for coaching, resources and training programs and gain a high level understanding of employment law. - Sherry Martin, OmniTRAX
8. Feeling Like They Must Have All The Answers
A common new manager struggle is unrealistic expectations about what it means to be a manager. Often times, new managers mistakenly think they now have to be an expert on all things. Instead, they should think about ways to best leverage their team and ask for help when needed. Proactively reach out to HR for coaching on people matters. Get into the habit of being proactive versus reactive. - Geline Midouin, McCann Health
9. Providing Consistent Feedback And Support
The transition from employee to manager can be challenging. To avoid micromanaging, new managers often overcompensate and provide too little direction to their direct reports. It takes balance, but it’s critical for managers to provide consistent feedback and support. HR can help, offering resources such as performance management systems that facilitate two-way feedback and ongoing conversations. - Vivian Maza, Ultimate Software
10. Doing Versus Leading
Ambitious upstarts will work to be noticed and ultimately promoted to management. It's an adjustment for a new manager to shift from doing to leading. An HR business partner can serve as an advocate, giving feedback on how one can execute through others. Leverage a “coaching inventory” to assess how a new leader is trusted, communicating and providing development opportunities to direct reports. - Stacey Browning, Paycor
11. Sharing Credit For Victories
The notion of "what got you here won't get you there" rings true for new managers. Usually, people are promoted to manager for being high achieving themselves, however that strategy stops working in management. Shift the perspective to team first: Winning is no longer about your own achievements and continuing to operate that way can block your own manager reputation and further development. - Heather Doshay
12. Building People Skills
In most places, new managers are so focused on production and eliminating defects, they neglect the relational part of being a manager. New managers are so focused on the end goal, they miss the fact that it's people they are working with. Leadership is not about power, it's about influence. HR can help with the development of their interpersonal savvy, managerial courage and approachability. - Frank Molinario, Security First Insurance Company Inc
13. Remaining Positive Under Pressure
New managers are presented with a variety of people-related feedback from all levels of the organization for the first time. It can be overwhelming. Be open by remaining positive when presented feedback. This is an opportunity to explore ways to collaborate without assuming the worst. It's beneficial for new leaders to set up recurring meetings with HR or a coach to support their transition. - Betsy Johnson, Cludo
14. Managing Team Expectations
Although new managers may have strong individual contributions and subject matter expertise, they may not yet be prepared for bridging communication gaps, managing expectations and developing team member talent. HR can be a sounding board for burgeoning leaders who may need help with honing their messages and being mindful of more complex and demanding social and professional dynamics. - Angela Nguyen, Ad Exchange Group
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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0d00efd97c92d8d1e88daa15e17122da
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/04/15/your-voice-is-the-key-to-building-brand-trust/
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Your Voice Is The Key To Building Brand Trust
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Your Voice Is The Key To Building Brand Trust
In 2018, close to 1,500 CEOs left their jobs, voluntarily or involuntarily. That's the highest number since 2008, according to a report by Challenger, Gray and Christmas. The report cites boards responding to employees and other key stakeholders who now are "strictly enforcing company policies regarding relationship and/or ethics issues." Employees are carefully watching the C-suite and want to know who they can trust. In this new era of leadership, trust is at the foundation of what they can or cannot achieve. Key stakeholders, especially employees, experience the brand through its leaders. You need to build trust through your leadership voice.
Much like internal and external communications, you must plan your social media presence thoughtfully. Today more than ever, every stakeholder looks to the leader as an extension of the brand and the human element of the organization. You are the trust barometer for the company, and what you say matters. So where do you begin? Consider following these steps.
Define The Pillars
Find two to three pillars that represent your personal experience and what you are passionate about. Though they may be aspirational, the pillars should be authentic to you. Whether they have to do with leadership, health, wellness or technology, consider which topics really resonate with you. Avoid political issues, as they can be polarizing to your audience. Once you have your pillars, conduct an audit of your peers to discover how they use their voices and how their content is being shared, leveraged and engaged with. You will find white space in the noise where you can add a unique perspective. Once you have done that, tie your personal pillars back to your broader corporate pillars to help connect you to your brand in an authentic way.
Offer A Unique And Compelling Point Of View
Get bold with your thought leadership. Test drive your ideas with your colleagues, and use what resonates well. You want to get people excited about what you are sharing and position yourself as someone worth following. You also want to comment with your unique perspective on what other influencers in your field are sharing.
You can also share your perspective through curating quality content, but whatever form of communication you are using, be sure to lead with your "pillar perspective" so you are consistently building your reputation around your message. This will reinforce trust in your leadership as a natural extension of who you are, what you believe in and what you do.
Use Many Mediums
Your thought leadership is not only for LinkedIn and Twitter, but also for your intranet, vlogs and more. Being visible across many mediums helps you be perceived as a leader and advances the brand both regionally and globally. Consider repurposing videos of speaking engagements on your website, sharing them across internal communications channels and extending across multiple external channels to reach all your stakeholders. The use of multiple channels gives you the opportunity to cascade your reach and provide for active commentary. Messages are often more effective when repeated, reinforcing the intent of the author. Measure engagement to see which mediums produce the best results.
Trust is the foundation of internal and external engagement, and leaders are the linchpin to cultivating that bond with all stakeholders. When you are actively, consistently and purposefully getting social, you are building a human relationship with your employees and consumers in a way that no brand could build alone. You are the face of your brand, and maximizing that role will help you as a leader and help both the customer and employee experience, further unifying communications, the brand experience and, most important of all, trust.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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a34642578e9eec3f949f7c2604b63a10
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/04/17/tough-hiring-decision-these-14-tiebreakers-can-help-you-make-the-final-call/?sh=78b5751a7c70
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Tough Hiring Decision? These 14 Tiebreakers Can Help You Make The Final Call
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Tough Hiring Decision? These 14 Tiebreakers Can Help You Make The Final Call
When you post a job opening, you might be surprised to find a large pool of experienced, skilled applicants eager to work with your company. This is especially true in an age when most candidates have much more than a college degree and a couple of prior positions on their resume. Applicants who boast self-directed learning, entrepreneurial pursuits, side projects and other professional experiences can bring unique perspectives and value to your organization, thus making it difficult to sort through your options and choose the right person for the job.
While this is a good problem to have, you'll need to think carefully and strategically about how to solve it. To help you, we asked 14 members of Forbes Human Resources Council which factors you should consider when choosing between several stand-out job candidates.
Let these HR experts help you decide between your top applicants. All photos courtesy of Forbes Councils members.
1. A Data-Driven Scorecard
Make a balanced scorecard of the most important candidate attributes required for success in the job. Make sure interviews and other data gathering are designed to evaluate these attributes. Require a realistic job preview/assessment. Pose a typical problem that the candidate will need to handle and ask each candidate to make a presentation to a peer group, including asking realistic questions. - Joyce Maroney, Kronos Incorporated
2. Alignment With Values
More and more companies are recognizing that their company values can and should be a key factor in the selection process, helping to make choices between candidates. This is because our values are created to spell out what behaviors are required to help our company succeed, so it's important to use them to help your employees and business be set up to achieve this. - Debra Corey, Reward Gateway
3. Passion For The Company
High-quality candidates have more than one opportunity. You want to make sure the candidate you secure, is passionate about your business and committed to making your company better. A candidate who is passionate about the business will deliver more than an equally qualified person whose passion really lies elsewhere. - Karla Reffold, BeecherMadden
4. A Record Of Progressive Learning
When deciding between two or more candidates with similar skill sets for a position, consider which one fits the company culture while adding something new. Do they have any unique traits or characteristics that would help them excel in this position or grow into others? Does one have a better record of progressive learning? Any of these can help predict future success while expanding the culture. - John Feldmann, Insperity
5. Self-Awareness
Successful candidates understand their strengths as well as their limitations. They are open and honest about their abilities and how they can effectively build upon their strong points and leverage others for any deficiencies. Self-aware people are better able to accurately assess their own actions and their impact on others, which is a key trait for strong leaders. - Geline Midouin, McCann Health
6. An Inclusive Mindset
Once you ensure that threshold competencies are met, the factor that really allows new hires to hit the ground running is inclusivity. The science of inclusivity is quite sound at this point, so when you use a process that helps you measure for inclusivity (e.g. civility, empathy, compassion and openness to differences), you hire people who help build healthy culture and engagement. - Leeno Karumanchery, MESH/Diversity
7. Diversity Of Skills And Backgrounds
Factor in the landscape of the current team capabilities coupled with candidates who are genuinely interested. This is your moment to diversify skills with added behaviors to take the team to the next level of success within your organization. A stand-out candidate will bring something unique while being eager to contribute to the group. - Betsy Johnson, Cludo
8. The Small, Human Details
Listen carefully to small details and ask questions to help you gain insight into the human behind the well-presented candidate. Which candidate has the passions and strengths most relevant to your company? Explore more in detail the measurable things have they accomplished and consider which candidate best matches your role and culture. - Peggy Shell, Creative Alignments
9. Growth Potential
Potential is a differentiator. If you have equally qualified candidates, who has soft skills, leadership skills, communication skills, the collaborative spirit and the can-do attitude? Who is going to elevate your team and go above and beyond? Look for candidates who will challenge the status quo, push your team to higher levels of performance and motivate you to be a better leader. - Lotus Buckner, NCH
10. Their Character
Skills are now baseline in any hiring equation. Instead, look at the connective tissue, the softer skills. How has the candidate worked through adversity or solving a hard problem? Pay attention to the character that comes through in their decision-making while talking through the process. You'll be able to gauge their cultural fit to your organizational values by asking these types of questions. - AJ Thomas, Auction.com
11. Adaptability And Measurable Success
There are a lot of factors here: desired pay and title, management abilities, cultural fit, chemistry with team members. Two that stand out are adaptability and measurable successes. The former speaks to an ability to collaborate well with others and being flexible with change. The latter refers to achieving quantifiable business goals and communicating the problem-solving that went into it. - Genine Wilson, Kelly Services
12. Consistency, Constitution And Compassion
When skills and experience all check out, recruiters should look closely at these three characteristics: consistency in one's behavior and work ethic to avoid introducing more variables, constitution strong enough to weather work storms or personal drama and compassion for both individuals and the greater team when the time comes to make the hard but right decisions. - Angela Nguyen, Ad Exchange Group
13. A Unique Vision
Assuming all things are equal I would look at two things. Firstly, what unique and diverse perspective can this person add that I don’t already have, and secondly, what unique vision does this person have about the industry that we are in and where it is headed? Candidates with industry domain expertise are special and possibly rare, but those “unicorn” candidates will always stand out. - Bianca McCann, Trifacta Inc.
14. The Best Fit For Your Business Needs
In my experience, it is rare to get through an entire interview process and be flush with candidates, stuck having to make a choice you don't want to make. The reason for this is because if you're remembering the needs of the business in addition to interviewing strong candidates, it is highly unlikely you will get more than a couple of candidates who "check all the boxes." - Evan Lassiter, Contino
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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848bff28fda473300da1072b9d98bda6
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/05/24/11-ways-to-implement-mindfulness-training-to-create-a-more-balanced-workplace/
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11 Ways To Implement Mindfulness Training To Create A More Balanced Workplace
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11 Ways To Implement Mindfulness Training To Create A More Balanced Workplace
Many aspects of modern working environments can be stressful. As such, offering opportunities to de-stress in the workplace, ranging from corporate yoga classes to mental health days, is becoming increasingly popular as companies focus more on supporting employee mental health and wellness. In fact, mindfulness actually carries a lot of weight when it comes to encouraging greater employee productivity, preventing burnout and creating a higher quality work product.
Yet, not all mindfulness methods and corporate mental health offerings are created equal. Knowing what your employees need to maintain healthy mental states and a certain level of workplace mindfulness can be difficult. To help, we asked 11 members of Forbes Human Resources Council to share their best recommendations for incorporating mindfulness training or other health initiatives into the workplace.
Forbes Human Resources Council experts share their best advice for integrating mindfulness training into the workplace. Photos courtesy of the individual members.
1. Start Where You Are
You don't have to go from offering nothing to offering some elaborate mindfulness program. Start small by partnering with a wellness company. Then, plan for the next few years and how you can incorporate more initiatives such as flexible schedules, increased or unlimited PTO, sabbaticals or robust stress management programs. - Lotus Buckner, NCH
2. Incentivize It
My best recommendation for implementing mindfulness initiatives into the workplace is by incentivizing them. To gain employee buy-in for the program, employers can offer idea bonuses or other non-monetary suggestion initiatives to generate buzz and engagement across the workforce. From there, companies should continue to incentivize participation via specific behaviors or desired program outcomes. - Dr. Timothy J. Giardino, Cantata Health & Meta Healthcare IT Solutions
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
3. Understand Your Culture
The best recommendation for incorporating mindfulness training and/or initiatives into the workplace is to first understand the culture of your organization. Leaders of the organization need to model the behaviors for health and wellness initiatives for adoption with employees. Mindfulness training needs constant practice, sharing and modeling. Also consider health and wellness ambassadors. - Sherry Martin, OmniTRAX
4. Get Employee Buy-In Before Implementation
While mindfulness training can be effective in improving employee focus and relieving stress, a mindfulness training program is useless if employees don’t take advantage of it. Companies should gauge employee interest through an email survey in order to determine what kind of training or initiatives employees would take advantage of before implementing a program that may or may not succeed. - John Feldmann, Insperity
5. Make Mindfulness Its Own Category
Most companies offer a wellness program for employees. Employees may think of wellness as only healthy eating and exercise. Incorporating mindfulness into the overall wellness program can be a great way for employees to focus on this area. Encouraging employees to volunteer in the community, practice gratitude, read books, reduce stress or practice yoga and mediation can all be part of this movement. - Debi Bliazis, Champions School of Real Estate
6. Schedule In Time
It’s crucial that leadership support mindfulness and make it a priority. Give mindfulness a proper introduction by having a speaker or role model onsite to explain its advantages with demonstrative training. Schedule a weekly time for practicing mindfulness and meditation at work together or alone. Agree on rules: What is the intention, what's expected from mindfulness, when is it OK to meditate? - Anne Iversen, TimeXtender
7. Foster A Culture Of Purpose-Driven Work
Mindfulness creates a positive, in‑the‑moment work environment that enables employees to develop their own purpose, always being aware of how their role affects others. By fostering a culture of purpose‑driven work, managers can use mindfulness to help their teams set department and individual goals that can increase productivity. When goals are achieved, celebrate them, then create new ones. - Genine Wilson, Kelly Services
8. Offer Experiential Management Training
If you want to maximize the benefits of mindfulness to improve employee retention and your bottom line, you need to have experiential management trainings that simulate real situations and utilize mindfulness tools to address those situations. If people physically interact with mindfulness and emotionally experience the outcomes, they are more likely to retain and deploy the practices. - Jeff Buenrostro, Metric Theory
9. Use Research To Support Your Offerings
There will always be skeptics. When you offer programs such as yoga, meditation, mindfulness or even emotional intelligence, share the research to support your offerings. Help employees and leaders understand the potential benefits and become champions of your programs. - Michele Markey, SkillPath
10. Start With Meditation Techniques
The main practice of mindfulness is how to be in the present, which can be learned through meditation. Your organization can practice mindfulness through meditation techniques during team building sessions. Individuals should focus on the now, and not be consumed by their thoughts. The results will reduce stress and boost productivity in your organization. - Tiffany Jensen, Pure Grips
11. Create Multiple Programs To Choose From
Some employees would want to do yoga, while some would want to play tennis. Others might want to work on their stress levels and apply ideas that will help them away from work as well. Look at different speakers who can come and inspire your team. Have them come multiple times to work one on one with a few members who need it. This is taking wellness to the next level by offering a coach. - Abhijeet Narvekar, The FerVID Group
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41ddeaadfd43e3c6d184e7977cd0ed35
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/05/30/using-centers-of-influence-to-recruit-top-talent-and-bring-in-new-business/
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Using Centers Of Influence To Recruit Top Talent And Bring In New Business
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Using Centers Of Influence To Recruit Top Talent And Bring In New Business
Diversification is a bit of a buzzword in the financial services industry. A lot of what we do for our clients is based on the idea that a diverse strategy is a strong one — that’s a no-brainer. But time and time again, I see companies and financial advisors who aren’t walking the walk with their business strategy, putting all of their eggs in one basket.
Companies of all kinds that are looking to recruit smarter need to have a multifaceted approach to winning new business. Warm calling — an age-old recruitment tactic — can certainly be one facet of your strategy, but it shouldn’t be the only tool in your arsenal.
In your search to locate top talent, grow sales and earn new clients, focusing on the targets themselves isn’t always the best tactic. Rather, recruiters should turn to an oft-overlooked source of candidates: centers of influence, or COIs.
COIs are typically external third parties who can guide, influence or help you in winning over a candidate or business prospect, providing recommendations and referrals or helping you forge connections with new leads. Staying engaged with these COIs can even offer years of future networking opportunities. If you’ve neglected COIs up until now, here’s how to get started.
Four Keys To COI Success
1. Precision: Be precise and strategic when using COIs. As a general definition, COIs are people and organizations that can help you and that you feel comfortable asking for help. But there’s a big difference between understanding what a COI is and translating that into action. The latter requires hard work, planning and specificity in your goals. “Casting a wide net” isn’t a strategy; it’s just a good way to waste a lot of time.
2. Mapping: To ensure you’re using your time and resources strategically, begin by mapping out the COIs that may be able to help you. Here are some strong places to start:
• Most industries require continuing education. Continuing education events are a great place to connect with colleagues and competitors in one place.
• Social organizations built around a cause often bring like-minded people together. If you find one that you genuinely care about and can actively contribute to, you’re likely to meet people you easily connect with, as you already have something in common. This COI works especially well when you add value to a group over time.
• Every industry has a group of external partners that service and have connections with the entire industry. In my field of financial services, for example, these partners are often accountants and attorneys. These people tend to be aware of all the latest local information: who joined a firm, who left a firm or what’s going on with a competitor.
• Consider building connections with spouses and significant others. In my industry, it’s a mistake to assume that one person has total decision-making authority over their finances; after all, those decisions can often affect their partner. To that end, engaging their partner may help you get a quicker yes when pursuing a sale or new client.
• Attending industry-sponsored events can help you meet experts in your field, gather competitive intelligence and pick up on trends that may help you do your job more effectively.
3. Authenticity: Don’t be a user. There’s no quicker way to build a bad reputation than by using people as stepping stones to new business or a wider talent pool. View COIs as long-term relationships: They can help you, and you should look for opportunities to reciprocate. COIs aren’t a quick fix.
4. Diversification: There’s that buzzword again. Though COIs are a great tool to have in your repertoire, you should by no means fill 40 hours each week with COI activities. Your strategy should remain diverse — and yes, that may mean some dial time! Blend COI activities with other tried-and-true strategies for the best, most sustainable results.
Over time, you’ll find that building meaningful relationships with COIs can offer exponential returns (to use another financial services buzzword). Developing connections inside and outside the industry can help you find new relationships now and lay the foundation for increased business down the line, especially in conjunction with other smart lead-generation strategies.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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bbfdc8619594cc82eefbca4bb7bbb256
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/06/10/technologys-impact-on-employee-experience-balancing-overload-versus-enablement/
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Technology's Impact On Employee Experience: Balancing Overload Versus Enablement
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Technology's Impact On Employee Experience: Balancing Overload Versus Enablement
Around a year ago, those of us at Randstad who recruit and interview candidates on behalf of our own company and clients started to see a trend. We suddenly noticed we were fielding more and more questions about an employer’s technology stack during interviews.
Technology has begun to play a bigger role in candidates’ decision to pursue a job — in fact, respondents to our recent survey said their tech tools are more important physical aspects of their workplace than clean bathrooms. And it’s not just that candidates are placing more value on potential employers’ tech infrastructure. They have their own vendor preferences, too. Sales professionals often prefer specific CRM systems, while finance professionals prefer certain ERP or accounting tools.
There’s no doubt that technology is an important part of the employee experience and key to staying competitive in the talent market today. But it’s a double-edged sword. Employers need to strike a balance between delivering the tech-forward experience that candidates crave without losing the human touch. Over-reliance on one or the other is not viable in the long term.
The two key questions to ask as an HR leader in today’s digitally-driven economy and world are: Where does technology advance your organization’s talent strategy? And where does it hinder it? We dove deeper into the ways that technology impacts and influences employees and came away with some new insights for leaders to consider.
Build A Tech-Enabled Experience
Technology can and should enhance the total employee experience, from talent attraction all the way through offboarding.
The natural place to start is with onboarding — or even “preboarding.” Onboarding can be the single most engaging thing, if done right, and the impact can last for years. By using automated communications tools, employers can ensure new team members gain critical insight into the organization while keeping new hires waiting to join — or those who recently joined — connected and engaged.
Training remains another area of opportunity for better technological integration. With professional growth always top of mind for employees, training delivered via digital platforms can be an incredibly powerful employee retention tool. Whether it’s a webinar that people can join remotely or an on-demand course designed by an employer or a third-party vendor, technology is a scalable way to build a common knowledge base and allow employees to broaden their skill sets.
Aligning technology investments and initiatives with what your employee population values most is an important factor to consider when building the foundation of your employee experience strategy. Technology makes that possible, providing more access to documents and connections to people, no matter where they are.
While investing in technology and making new tools readily available is a non-negotiable, it also creates a new challenge for employers and the cultures they’re trying to cultivate.
Balance Technology Overload
Today's technology can make it difficult for managers and employees to disconnect from the workplace after hours. It can also prohibit employees from focusing on what really matters, and it can sometimes even make them act too quickly.
It can adversely affect relationships, as well, when conflicts are handled over digital communications instead of face to face or over the phone. Interpersonal skills and relationships are such an important part of the employee experience and must be protected and preserved in our technology-dominated world.
Leaders should encourage teams to slow down and collaborate. Hold in-person brainstorms to get input on problems or situations requiring strategic or creative thinking, and make it clear you expect everyone to contribute an idea or two. Managers should also be conscious of their own habits when it comes to technology use in the workplace, and lead through an example that demonstrates a healthy balance. If they’re constantly checking their phones during meetings or sending emails late at night, that sets a tone that their employees, consciously or not, will emulate.
At the end of the day, it’s all about balance. Technology needs to be a central part of the employee experience today. It will allow employers to keep pace with the new workforce’s digitally driven expectations, and be instrumental in keeping increasingly global and distributed teams more connected and on-task. Best-in-class companies will be the ones providing world-class technology, while also recognizing the importance of helping employees develop healthy relationships with these new digital tools, to ultimately assimilate their personal technology practices into constructive work outcomes.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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e5d8e3f9e27d2684c11b9a48b270b702
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/06/28/how-leaders-can-build-a-strong-and-differentiated-employee-experience/
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How Leaders Can Build A Strong And Differentiated Employee Experience
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How Leaders Can Build A Strong And Differentiated Employee Experience
The employee experience, often referred to as EX, is “sum of everything an employee experiences throughout his or her connection to the organization — every employee interaction, from the first contact as a potential recruit to the last interaction after the end of employment” and everything in between. Much like customer experience, or CX, which is the sum of all interactions a customer has with a company, and forms their lasting opinion of the brand and loyalty to the brand, EX does the same thing.
In a survey by Deloitte, nearly 80% of executives said employee experience is important, but only 22% believe their companies excel at building differentiated employee experiences. Your employee experience is your employment brand. Employees who have a differentiated and impactful experience will be your brand ambassadors. It drives engagement, recruiting, retention, discretionary effort and, yes, profitability. Leaders and managers, you need to take things into your own hands, because frankly, you are on the front lines. Here are five ways to do that.
Create Moments That Matter
Every interaction you have with your employee counts, so be intentional about each and every level of touch. Actively listen to what they have to say, and take note of how they react and what's important to them. Catch them doing things right and reinforce good work. In their book The Power of Moments, Chip and Dan Heath define such moments as “a short experience that is both memorable and meaningful.”
Recognize personal milestones and professional milestones, even if they are not marked by promotion. If someone has mastered a skill, or received client kudos, shout it out and recognize it. Take the time, face to face, to share feedback. Celebrate team wins in a meaningful way, and own the losses collectively, as a servant leader should. Watch out for the missed moments when you should have been more conscious of what you could have handled better. Do an audit; in doing so you become more aware of how to manage these better.
Spearhead Cross-Organizational Collaboration
Often, employees in one group feel the other group has it better. Find stretch opportunities for your employees to collaborate with team members in other parts of the organization. Showcase how your team can lend value. It creates alignment with the organization and helps reinforce the purpose of the company to your employees. It also shows your team members that you trust them and want to see them advance professionally. Finally, it's good for you as a manager to be viewed as a bridge builder and a team player, and this can help your team think of you as their advocate and champion.
Personalize Employee Needs With Technology
Use collaboration apps like Slack and Box to help drive efficiencies when working together. Consider talking to your HR and IT teams about self-service apps for timesheets, reviews and expense reports. Often payroll, HRIS and even PEO's already have app versions. Reinforce a culture of learning with online training platforms and free webinars. Instead of live meetings, use technology to host online video meetings to include remote employees. Streamline the employees' use of time by giving them a user-friendly experience. You can lead the way for them here, and revolutionize their employee experience.
Create More Hours In The Day
Help your employees scrutinize their calendar. Ask your employees to create an annual plan and revisit it quarterly. Don't fall into the trap of 25-slide presentations; help them tell the story with no more than five visual slides and become more comfortable speaking to the big idea. Model taking a moment to think before responding to an email and ask what needs to be done. Can it be accomplished by a quick phone call? Drive meeting innovation and only invite those absolutely necessary to engage and push the agenda, then circulate notes after to those who have action items.
Model Wellness
Employee experience includes personal wellness. Gone is the allure of “burnout chic.” Employees want to know you care about their physical and mental well-being. Remind employees about scheduling vacation and Summer Fridays. Encourage your employees to take lunch away from their desk. Strengthen team bonding with group charity 5K runs, or better yet, take the meeting outside. Bring a yoga instructor in once a week. Encourage your team to take advantage of the gym benefit. Start a step challenge for a month and present the winner with a gift card. Wellness is not a perk today, it's expected, and you as a leader can lead this in fun and innovative ways.
Work life and personal life is blending, and people want more out of their job than a paycheck and a title. You have the power to help your employees want to come to work every day. By building a strong and differentiated employee experience and thinking of your employees with intention, you can create not just a strong and differentiated employee experience, but also an experience that delivers business results.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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2cf12d2288bd0e10b8ace24025b6da0d
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/07/16/12-tips-for-delivering-tough-feedback-to-a-manager-as-an-hr-mediator/
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12 Tips For Delivering Tough Feedback To A Manager As An HR Mediator
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12 Tips For Delivering Tough Feedback To A Manager As An HR Mediator
Human resources professionals must sometimes play messenger between employees and their managers. This typically happens when an employee feels uncomfortable approaching their manager directly about an issue or a problem—and being stuck in the middle can be a tough position.
If you’re tasked with approaching a manager with constructive feedback from their employee, you’ll want to go about it the right way. Below, 12 Forbes Human Resources Council members offered their best tactics for relaying negative messages in a helpful and constructive way. Follow their advice to resolve the situation in a positive, productive manner.
Forbes Human Resources Council members share best practices for delivering feedback from an employee to a manager the right way. Photos courtesy of the individual members.
1. Ask For Permission Before You Give Feedback
Inform the manager that you have feedback that will help them develop as a manager and a leader. Then, ask the manager if they are currently open to receiving feedback. If the manager is open, deliver the feedback. If they are not open, see if there is a time in the near future that they would be open to receive it. Managers resistant to feedback in the near term need to be reevaluated. - Jeff Buenrostro, Metric Theory
2. Deliver The Message Directly, But Respectfully
The best way for an HR professional to approach management with feedback regarding a problem is directly and with a sense of urgency. Of course, it should also be done respectfully, being sensitive to both the manager and the employee who brought the issue to light. However, procrastinating out of fear or nervousness could allow the problem to grow over time, eventually making it harder to solve. - John Feldmann, Insperity
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
3. Stick To The Facts
Whether we are in HR or management, we should be clear and upfront. We should not sugarcoat the issue, but we also need to be empathetic, which means we need to understand all sides of the story. Gather facts and documents. If the employee has approached you, ask the right questions and gather as many details as you possibly can. Get the positives and negatives of a particular situation. - Abhijeet Narvekar, The FerVID Group
4. Keep It Confidential
It's important to maintain the confidentiality of the employee unless you've gotten their permission to share their concerns with their manager. This is paramount as an HR professional. This may mean finding a creative way to communicate the information without exposing the employee. Asking probing questions of the manager can help open up the conversation as it steers toward the subject. - Charles Ashworth, Copper
5. Meet The Manager Where They Are
It's important to understand the context and the manager's mindset. Knowing what else is on the schedule, mind, heart and relationships with the employee provides input on how to approach the conversation. The feedback may fall on deaf ears if the manager is not ready and willing to hear it. Knowing how the manager best hears feedback is important and delivering it how they need it is critical. - Jessica Delorenzo, Kimball Electronics Inc
6. Collaborate On A Solution
I love the advice to be tough on problems, not on people. The best way to do that is to focus the conversation on the organizational objective that "we" are solving together. If you take this "we're in this together" approach from the outset, it helps defuse emotional behaviors like blaming or making people feel defensive. - Joyce Maroney, Kronos Incorporated
7. Encourage The Manager To Self-Reflect
Don't tell a manager what they are doing wrong. Start by asking them what they think the issue is or how they think they can improve. This forces reflection rather than defensiveness. Regardless of who it is, human beings will get defensive if they feel like they are being attacked. - Lotus Buckner, NCH
8. Listen To The Manager's Point Of View
Allowing the manager time to put their point of view across, even if it is not ultimately taken on board, will help them to feel any feedback is fair. Resentment comes when people feel they have not been heard or had an opportunity to speak. - Karla Reffold, BeecherMadden
9. Define The Actions, Not The Person
When I have to deliver constructive feedback, I have found it helpful to make clear that the manager's actions are being perceived in a certain way. In other words, instead of saying "You're being difficult," let them know that when they do "X" action, it makes the other person feel this "Y" way. People can take their actions being misinterpreted, but they don't like being labeled as this or that. - Angela Nguyen, Ad Exchange Group
10. Frame It As An Opportunity
Approaching the manager with an opportunity to improve the employee experience for their team opens the door to receptive listening. It is important the manager knows feedback is information to help us improve and to embrace the opportunity. Management is highly experiential. Most managers do not have adequate training or experience. You can help them succeed by establishing a positive baseline. - Christine Wzorek, White Label Advisors
11. Coach Rather Than Direct
Share with the manager the complaint or issue and find out their take on the situation. Then coach them on how to take a new approach with this employee (and possibly others). Rather than acting as an authority figure, coaching the employee will present helpful feedback and opportunities to construct new ways of thinking and solutions to the problem. - Greg Furstner, SkillPath
12. Create A Culture Of Support
As an HR professional, it's important that managers know they can count on you to be honest, fair and authentically support them in growing in the organization. When the time comes for you to share feedback that may not be positive, you should approach it in a collaborative, honest and supportive manner. Give the facts and help the manager understand the concern and action steps to fix the issue. - Tania White, Canary HR Consulting
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fcf03eaaa7c0e262ef54b1773a37107f
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/07/25/how-to-live-and-work-with-an-abundance-mindset/
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How To Live And Work With An Abundance Mindset
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How To Live And Work With An Abundance Mindset
Your mindset can radically affect the course of your life. The way you think can influence how you learn, deal with stress, create success and handle resiliency. One type of mindset that can help us live and work with more positivity is an abundance mindset, in which a person believes there are enough resources and successes to enjoy themselves, as well as share with others.
Those who possess an abundance mindset see opportunity for success to be plentiful. They’re happy, grateful and eager, and they carry the abundance viewpoint into their professional life as a platform to succeed in their careers. An abundance mindset is crucial for leaders to possess in difficult times to avoid stress and burnout. People with an abundance mindset believe that what you focus on grows, and this gives them the ability to foster even more success.
People who base their life on this belief are better equipped to pursue their hopes and dreams without fear of missing an opportunity. They view objections at work as opportunities, rather than roadblocks.
This philosophy contrasts with a scarcity mindset, which is the belief that there’s never enough. This feeling can result in stress, anxiety and fear of missing out or not succeeding. It’s predicated on zero sum: Someone else being successful means others have to be diminished. This mentality that one wins while one loses is the antithesis of an abundance mindset, where all parties can win and enjoy life’s bounties. One mindset can imprison you, while the other can set you free.
Having an abundance mindset can help you flourish in your professional life. Those who possess an abundance mindset make the best of work. They see opportunity in the corporation. Perhaps they take on an additional responsibility to get involved and showcase their leadership skills. Or, maybe they pursue abundance by furthering their education to strive for a higher position. They proactively deal with stressful work situations. Conversely, having a scarcity mindset about your job can become a self-fulfilling prophecy. If we believe it, we find ways to attract it.
Establish a long-living abundance mindset to attract even more success. Here's how:
1. Focus. Tell yourself to focus on the positive opportunities and options that you have at your job and in life for being happy and successful. This can be reinforced by meditating on these thoughts. Your goal is to take control of your emotional intelligence and how you see the world, so that you can take positive action.
2. Gratitude: Be grateful and thankful when others are kind or help you at work. In return, be kind and friendly, showing respect, manners and civility. Look for opportunities to be sympathetic and generous to colleagues, business connections, family, friends and people you meet. Consider writing down positive thoughts about the abundance that surrounds you. See the positive and do not judge the negative — simply ignore and move on.
3. Community: Volunteer to participate in committees and activities at work. Donate your time, money and items you no longer use. By helping others in need with your personal abundance, you’ll attract the same and will recognize how much exists that can enrich you. It can become an antidote to help you reduce anxiety and stress.
4. Optimism: Look for the good in people and situations. Rather than pinpointing what you might consider a flaw in a difficult supervisor, client or direct report, look for their positive attributes and appreciate them. Strive to be positive in your approach, behaviors and words at work, and it might influence others to become more positive as well.
5. Organization: Declutter your office, home and life. Having a muddled work space can build despair and confusion, while having an orderly work space and home can be uplifting and freeing, allowing you to focus on other, more important issues.
6. We, not me: Colleagues at work want to get their credit and be recognized as well. Be inclusive and team-oriented because it’s better to share credit than to be an “I” person. Converse and engage with others about their lives. You’ll find others responding favorably when you take interest in them. People who are curious ask good questions and practice active listening, which makes for great conversationalists and learners.
7. Win-win: Find win-win situations so that business associates feel they’ve achieved success too. You’ll likely have to deal with the other person again in the future, and nobody wants to feel as though someone else benefited at their expense. Negotiations and dealings are more complete when all parties feel they came out winners. If a stalemate is reached, simply “agree to disagree,” and hold off on making a deal.
8. Role models: Read related material, and spend time learning from others in the corporate world — including your own work environment — who espouse an abundance mindset.
Practice these concepts of an abundance mindset. Take responsibility and action each day, and you’ll recognize a paradigm shift in your assessments. Having an abundance mindset as your own personal platform can help you attract more personal power into your life. You can transform into a different person. Better yet, an abundance mindset will have a direct and positive impact on the success and results you experience in business and in life.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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6c59fe30d37e4bcd8de84ce28f814398
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/08/01/why-every-hr-leader-needs-a-coach/
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Why Every HR Leader Needs A Coach
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Why Every HR Leader Needs A Coach
Business coaching is taking off like never before. Once reserved for executives or the privileged few, there's a new movement to democratize coaching. During my early days in HR, there were two kinds of people who worked with executive coaches. The first was the senior-most leaders: CEOs, SVPs and VPs who were responsible for large divisions with thousands of employees, generating big revenue dollars. On the flip side, when senior leaders or high-level individual contributors began to burn out, stopped performing well or were being held accountable for bad behavior, a coach was called in as a last resort.
Coaching: The New Normal
Fast forward 15 years, and we're now seeing coaching used to personalize and bolster the development of high performers and high potentials. Not only that, but the idea that coaching can help people at all levels in an organization is beginning to take hold. In today's economy, people change roles more frequently and may experience everything from promotions to downsizing to positions requiring entrepreneurial skills, sometimes all at the same company within a matter of years. Traditional business and HR leaders have realized that coaching plays a pivotal role in helping people succeed in a new or newly expanded role during reorganizations, mergers and times of rapid change. Expats, new parents and first-time managers are all prime candidates for coaching.
That's true today more than ever for a few key reasons.
• Companies move at a rapid pace, and people succeed or fail quickly. Providing support during critical transitions will increase the chance for success.
• People are costly, and top talent is harder to find than ever before. Coaching is just one element of a worthwhile investment in a person's development.
• Senior leaders need to quickly internalize and act on what they learn, which requires individual practice and understanding.
HR: The Frontline Of Leadership Development
HR professionals partner every day with other business leaders to identify top talent, recommend promotions and build multiyear succession plans. They facilitate talent reviews using tools like the nine box and others that help assess capability and future potential. These exercises are not an end in themselves; at their best they are the basis for conversations about how to grow employees, create bench strength and help people at all levels reach their career aspirations.
Like any function, HR professionals can only use the tools that are in their toolbelt. Over time, seasoned HR partners will have been exposed to a variety of development tools including styles assessments, workshops, rotations and on-the-job training. Many have access to internal training programs. Most, however, have never received coaching, learned basic coaching skills or studied the ROI of coaching. Why does this matter?
Coaching: A Missing Tool In The Toolkit
HR is frequently asked to "coach" managers, executives and employees. In my experience, they're really being asked to give feedback, which is important, but different. I know when I was an HR manager, having a coaching methodology and a list of powerful questions, and understanding of the difference between coaching and consulting, would have benefitted me immensely. Before becoming an executive coach, I received coaching only three times. The first was self-initiated, and the second was only after I'd spent more than eight years in HR.
Coaching is experiential, and being part of an effective coaching conversation, even if it lasts for less than an hour, can be life-changing. In order for HR to understand the value of coaching as a development tool, effectively select and integrate coaches, nominate employees for coaching, and measure the effectiveness of coaching programs, HR professionals themselves must be exposed to coaching. The best way to internalize the impact of coaching that goes beyond a theoretical understanding is to receive coaching oneself. Since HR is at the forefront of employee development, let's offer this important learning opportunity to our up-and-coming HR leaders.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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b4028522a08d95debe69645e1f7ac681
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/08/02/how-to-jump-start-your-career-in-cybersecurity/
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How To Jump-Start Your Career In Cybersecurity
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How To Jump-Start Your Career In Cybersecurity
Maybe you have read about the expected 3.5 million unfilled cybersecurity jobs by 2021. Or that 74% of companies recently surveyed said that the skills shortage is impacting their business, including their ability to keep their information secure. With the reports of large salaries, job security and strong career progression, there are many reasons why cybersecurity is one of the best careers to be in right now. Knowing where to start isn’t necessarily as obvious.
One of the best solutions to the skills gap problem can be seen in the executive order President Trump signed earlier this year, in which appropriately skilling and hiring cybersecurity personnel is put front and center. The strategies set out in the order include training people who have the aptitude for a cybersecurity career. If that is you, how can you take advantage of the current situation and jump-start your career?
Network
The easiest way to begin your career in security is to go to some events and network. The industry is crying out for people. People who already have technical skills or who have a particular interest in security can get jobs very quickly by showing an interest before the right people. Just being at the event demonstrates your interest level. It allows you to connect quickly with relevant professionals who can help you make that next move.
We have seen previously that candidates coming from related business areas (IT, risk, project management) can quickly accelerate their careers and earnings once they transition into cybersecurity. Networking is also essential for those who want to quickly advance their career within cybersecurity. Meeting new people at the right events shows that you are involved in the industry and committed to your professional development.
Understand The Opportunities Available
Talking about a career in cybersecurity is as broad as talking about a career in IT or digital; it can mean any one of 100 different things. Some of the roles are very technical, such as penetration testers or security architects. Other roles are more people-focused, such as cybersecurity awareness managers. There are roles within sales, marketing and training. Often, privacy and data protection positions get tagged as cyber. These roles couldn’t be more different from a hacker or security engineer. Understanding the different type of roles can help you work out where you might fit, so be sure to research and know your options.
Analyze What Skills You Need
Each of the roles will require different skills, and you need to consider what skills you have against the roles you consider most interesting. For management roles, consider how strong your business communication skills are, and work on those if necessary. Within cybersecurity, I see numerous examples of candidates jumping to leadership roles within three years. These people are passionate and able to communicate technically to nontechnical peers. If you are unsure about your own strengths, seek out feedback from your manager or people you work with often, and take their advice on how you may be able to improve.
For more technical roles, communication skills can be much less important. Here, technical skills, interest and training are most important. While experience is generally the most important thing, qualifications can help for certain career moves. Penetration testers who want to jump to the next salary bracket can benefit from a recognized qualification (offensive security certified professional (OSCP) being the most respected currently). A certified information systems security professional (CISSP) or certified information security manager (CISM) can help security analysts looking to move into a more senior role. Obtaining an entry-level qualification, such as a certified ethical hacker (CEH) for pen testers, can help demonstrate your commitment to starting your cybersecurity career.
Once you have considered these steps, they don’t just need to apply to roles outside of your current organization. With so many companies affected by the cybersecurity skills shortage, it is likely your current company is also experiencing some of these challenges. Even if your company has an established team, it will know how hard it is to find passionate people with an interest in the area. You can ask to move internally, or ask for projects where you could add cybersecurity on to the list of tasks. Cybersecurity is one of the most exciting career paths to be involved in right now, and it has never been easier to make a change.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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2f0c51cf0be81ffabad639fdcd6da592
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/08/22/nine-areas-to-investigate-when-experiencing-high-employee-turnover/?sh=3459d20d11e5
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Nine Areas To Investigate When Experiencing High Employee Turnover
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Nine Areas To Investigate When Experiencing High Employee Turnover
Businesses can lose employees for several reasons. The employee may be retiring, changing career fields, pursuing a better opportunity or may have just decided it’s time for a life change. Turnover is normal for every company.
When the turnover rate starts to creep higher and higher, however, there is a significant cause for concern. There may be elements within the business itself that are driving away potential talent, and a company should address these issues as soon as possible. Here, nine members of Forbes Human Resources Council illustrate crucial elements businesses should look to first when experiencing a higher-than-average turnover rate, and why addressing them is so important.
Forbes Human Resources Council members share insight into what areas you should check if you start to lose more employees than normal. Photos courtesy of the individual members.
1. Where Turnover Is Trending
Turnover happens—about 10% is normal—but if I see turnover creep up, I first look at where it is coming from in the company. Is it all on one team? Then look at that leadership. Is it a certain demographic? Then look at policies that impact them. Knowing where the turnover is happening can give HR and leadership an idea of where to start looking and what action to take. - Kelly Loudermilk, Academic Impressions
2. Common Reasons For Departure
First, I look for whether or not there are commonalities in the reasons why an employee is leaving from a specific department. I do that through reviewing our exit interview surveys and looking for similar answers to the questions. It's important to know if the reason is the manager, a team member or something else. This way you start the process to resolve it before losing additional talent. - Kayti Patterson, ARIIX
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3. The Bigger Story
You need to understand the story behind the numbers before raising a red flag. It could be that people are unhappy with pay, benefits or leadership at the organization; or that the organization is undergoing great change and there is a shift in the skills or competencies needed within the workforce. Perhaps people are being poached by competitors. The story will determine your response. - Jennifer Marszalek, Havas Chicago Village
4. Direct Management
Here is the unvarnished but terrible truth: At some time in their careers, 50% of Americans have left a job to get away from their manager. Poor leadership can rupture people’s sense of safety, it can forestall a sense of belonging, have people feeling excluded and depress engagement. So focus on whether your people are leaving, or whether they are being driven away. - Leeno Karumanchery, MESH/Diversity
5. Relevant Performance Data
Companies must identify root causes of attrition by accessing data to answer questions such as, is the attrition organization-wide or is it concentrated to just a few teams? Are other indicators such as increased absenteeism, decreased sales or poor customer feedback also present? Using data to understand the causes, rather than act on speculation, is key to finding the best resolution. - Marilyn Tyfting, SVP & Chief Corporate Officer at TELUS International
6. Employee Tenure
When turnover is high, organizations should analyze several factors to identify the root cause, including tenure. If employees are leaving within the first 90 days, then there is an issue with either the hiring or the onboarding process. Either the wrong candidates are being hired or employees are not being effectively trained or oriented into the organization and/or their respective departments. - Karla Bylund, Soaring Bird Solutions LLC
7. What Other Companies Offer
With the current unemployment rate at a 49-year low, today’s job market is ultra-competitive. Therefore, employers should look at others in their industry to ensure they are keeping pace. If a company faces high turnover, it may be because competitors offer a work-from-home option, a clearer path to promotion, better work/life balance, etc. Knowing this can help determine necessary changes. - John Feldmann, Insperity
8. Market Compensation Alignment
Looking into job tenure and market compensation at least annually might offer additional insights; managers might try to find out in their one-on-ones whether their tenured directs are happy doing their current work or are they looking for a challenge or a change. Compensation analysis might help proactively adjust salaries instead of reacting to exit interview findings. - Ushma Mehta, KenSci Inc.
9. If Employees Feel Cared For
Ask yourself, do our employees feel cared for? And how is our organization showing it? Authentically caring about employees as human beings is the first step in creating a great place to work and is linked to a greater intent to stay. - Laura Hamill, Limeade
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7a906f1ff0c10b10bba0cfab37b2f87c
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/08/23/failing-forward-and-why-its-ok/
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Failing Forward -- And Why It's OK
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Failing Forward -- And Why It's OK
We can probably all agree that team failure is a tough pill to swallow. But the truth is that it’s also an inevitable part of doing business.
No matter how much micromanaging we do, mistakes happen, whether we like it or not. And while leaders can’t avoid this reality, we can modify the way we approach these metaphorical stepping stones and transform them to our advantage.
In my professional experience, “failing forward” moments are some of the most critical.
So what is failing forward? As a major sports fan, one of my favorite all-time quotes is from basketball great Michael Jordan: "I've missed more than 9,000 shots in my career. I've lost almost 300 games. Twenty-six times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
The concept of learning from your mistakes isn’t a new one. In fact, many leadership books have been written on the topic, including John Maxwell’s “Fail Forward,” Ryan Babineaux’s, “Fail Fast, Fail Often” and many more.
While understanding the idea around failing forward is important, it’s equally essential for leaders to foster a culture (a safe culture) of risk-taking in the workplace.
The Consequences Of Ignoring Failures
One of the worst things a leader can do after a team failure is to not address the situation. Sure, it’s natural to not want to discuss the issue – most team members would like to act like it didn’t happen and move on.
However, avoidance can be risky for two reasons:
• Not talking about the issue can instill a sense of fear. Brushing failure under the rug can lead to an atmosphere steeped in fear. To start, some employees who feel like they’re to blame could fear for the fate of their job. Even worse, others might become averse to taking risks, for fear of a similar outcome. Ultimately, the “ignoring it” approach can hinder your team’s success.
• Past mistakes will be repeated. While failure is painful in the moment, our mistakes can provide us with teachable moments. Deconstruct with team members what parts went wrong in a collaborative, considerate manner to learn together, and to prevent similar mistakes from occurring down the road.
Embrace Failure To Launch Forward
Throughout my career (you can ask all of my bosses), I have always been confident about taking risks and making judgment calls on new strategies to move my organizations’ forward.
My supervisors can also attest that no matter how confident I was about some of those risks, they didn't always work to my advantage. However, they also didn't hold me back me from stepping outside of my comfort zone to take another risk.
Instead, these managers focused on making sure that I learned from what aspects went wrong, and that my percentages of wins were much higher than my losses. Those percentages eventually improved for me as I learned how to fail forward.
As a result, I was given safe places to fail. Even better, those experiences transformed me into a better decision-maker and someone who has since been relentless on discovering and utilizing best practices in my field.
Here are some practical steps you can take to turn failure around in your organization:
Foster A Growth Mindset
Research shows that those organizations that encourage a “growth mindset” are more likely to equip their employees for success.
Additionally, those individuals who adopt a growth mindset belief can enhance their abilities and skills, resulting in significant improvements in leadership.
One of the key advantages of the growth mindset is how you look at and deal with setbacks.
Those employees and managers that embrace this mindset commonly view mistakes via a learning lens and their initial lack of success contribute to the improvement process.
Create A Safe Environment For ‘Failing Forward’
Set out to create a safe culture of learning and creativity. As Microsoft leaders have noted, "We want to be a learning-all company, not a know-it-all company."
A Harvard Business Journal author stated: “Only leaders can create and reinforce a culture that counteracts the blame game and makes people feel both comfortable with and responsible for surfacing and learning from failures.”
As such, management should urge their companies to establish a concrete realization of what occurred during the “fail,” and not point fingers when plans go south.
Encourage Experimentation
Some industry experts believe that for effective learning, leaders should plan to strategically produce experimental failures – in the right place at the right time.
After all, every failure bears valuable information. What better reason does your team need than to try and try again to get that winning recipe for success before the competition does?
Why Failing Forward Is Vital For Modern Leaders
To succeed in business today, it’s essential to learn how to fail forward. And of equal significance, it’s crucial to also model and instill this strategy within the culture of your company.
Remember, it’s the art of failing forward that will ultimately drive sustainability, and teach collaboration, empowerment and resilience.
So while team failure can feel catastrophic in the moment, with a growth mindset top of mind the right amount of time and collaborative analysis of “steps that went wrong,” your employees will learn valuable lessons that can transform even the most upsetting failure into something greater than you ever imagined.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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d42fc8091a6209d99c99e7b26306fe30
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/08/29/game-based-learning-what-all-leaders-should-learn-about-training-from-the-healthcare-industry/
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Game-Based Learning: What All Leaders Should Learn About Training From The Health Care Industry
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Game-Based Learning: What All Leaders Should Learn About Training From The Health Care Industry
The health care industry is made up of highly skilled, highly schooled, high-cost, in-demand professionals who are responsible for making life-and-death decisions. Consequently, their training is best in class and can serve as a model for all other industries.
Ever since Dr. James Rosser Jr. used a PlayStation to improve his surgical accuracy, the idea of games to improve clinical interventions has been of great interest to the industry. Over the past decade, health care professionals have adopted game-based learning in volume, resulting in improved training and compliance rates, boosted patient care, and time and cost savings for clinical practices.
While there are many reasons game-based training is effective, the four below demonstrate how this solution stands apart from traditional training in all types of work environments, and why leaders everywhere should follow the health care industry's lead.
Games Tell A Story
Learners connect with and recall content when it is presented as a story. The presentation of the story helps learners to visualize themselves in the same situation. Research has found that simulation-based training, which requires learners to practice doing, can have a significant positive impact on training outcomes.
Clinicians around the world use scenario-based training games to improve their delivery of patient care. For the American College of Chest Physicians and my firm created CHEST, a story-based training course for physicians delivering COPD care. Learners go through each patient story with a series of multiple-choice answers to build the story. When the wrong answer is chosen, helpful explanations reveal the correct answer.
Games Can Tap Into Our Natures
People are competitive. Turning content into a mental gymnasium with challenges, power-ups and rewards can draw them in and keep them with the material for longer, increasing their ability to absorb and retain the information. The often-competitive and extroverted nature of sales teams, for example, makes them ideal students for game-based learning training courses with gamification elements added.
While the CHEST scenario training game focused on interaction for personal improvement, sales reps respond well to games that make use of their new knowledge to gain points or rewards. For example, Bayer Pharmaceuticals developed Rep Race, a simulation game meant to educate and excite sales reps. According to Bayer, reps can play virtually unlimitedly, and the company has seen positive results.
Games Make Training More Available
Sometimes the best training games are fun and fast, helping learners digest your message and improve prescribed skills. Professionals in all areas face ever-increasing time pressures. Breaking up their training content into bite-sized game-based experiences that they can access between tasks can help keep their attention and result in better learning.
This time crunch is especially evident in health care. Southern NHS Foundation in the U.K. recently used a new e-learning system with bite-sized game scenarios focused on topics including health and safety, infection prevention control, safeguarding and the Mental Health Act. The game element enabled regular versus occasional training, saved millions in time and training costs and significantly increased staff compliance and standards of care at the same time.
Beautiful Games Engage The Learner
Eye candy is important because more often than not, people do judge books by their covers. It takes all but a second for people to form an opinion (positive or negative) about anything they see based on visual design. Appealing art direction and efficient user experience design are not easy to get right, but they are critical when trying to engage and retain learners. After all, if graphics weren't important, we would all still be playing Atari 2600 games and watching VHS tapes. The better the art, the more a player (or in the case of game-based training, a learner) will focus on the content. And the more they focus on the content, the more they will retain.
In 2016, Alzheimer’s Research U.K. released Sea Hero Quest on mobile in an effort to gather data to better understand, diagnose and detect the early onset of dementia for years to come. This cheerful, colorful, cartoony game includes several bite-sized levels designed to test memory and spatial awareness. As the player captains their little boat along snaking channels towards checkpoints, the game records their every move.
Game-Based Learning Is Driving Success
Game-based training improves employee performance, professional interactions and patient adherence. It engages the emotional part of the brain and provides players with a safe environment to practice, fail, achieve and change behavior, leading to more engagement and better outcomes. As more industries experiment with game-based training, inevitably they will experience the success that the health care industry is seeing.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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39ed8c89a7f86b529d9f71d2d1a8941b
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/09/12/move-over-specialists-the-rise-of-the-generalist-is-here/
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Move Over, Specialists: The Rise Of The Generalist Is Here
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Move Over, Specialists: The Rise Of The Generalist Is Here
You might have heard someone argue that to do anything well, you need to dedicate at least 10,000 hours to learning and practicing it. Maybe your Spanish tutor references it during a weekly lesson when you get frustrated by your mediocre accent, or your mentor points it out when you tell her you’re unhappy with how long it’s taking you to climb within your company. It’s a tried-and-true favorite.
You might not have heard that the 10,000-hour rule stems from Malcolm Gladwell's book, Outliers, in which he argues that you can achieve expertise in any topic if you focus enough time on it. And by enough, I mean years: According to Gladwell, 10,000 hours adds up to about 20 hours of work a week for a full decade.
It makes sense. Ten years puts you squarely in the middle of your career — a pretty common time to feel confident claiming you’re a specialist in one way or another. You’re likely introducing yourself at dinners or meetings by saying something like, “I’m an HR specialist,” or “I am the director of finance” or “I own my own PR firm.”
But is committing to one profession really the answer to all our career (and, for that matter, life) goals? Because while we all love a good Gladwell moment, there’s a new argument in town: Specializing isn’t the only way. In fact, it might not even be the best way.
Are we giving specializing too much credit?
A new book by David Epstein, Range: Why Generalists Triumph in a Specialized World, makes the case that we’ve given the whole 10,000-hour thing too much credit. Maybe, just maybe, it’s more of a glorified myth than a rule. In a recent New York Times review of Epstein’s book, Jim Holt notes how vehemently we’ve adopted an all-or-nothing philosophy around specialization and success. Consider how often we’ve heard the saying “jack of all trades, master of none” — not exactly a positive cliché.
Epstein’s book may just give all of us generalists hope. What if, rather than a sign that we lack focus, generalizing sets us up to excel? “If true, this is good news. It means that excellence and well-roundedness naturally go together,” says Holt.
HR generalists are valued human resource professionals for many reasons. They tend to manage many areas as opposed to a specialist who handles one area. For instance, a generalist can handle benefits administration, manage a payroll department, and recruit and conduct workplace investigations, while a specialist leans more toward one area, such as benefits administration or leaves of absence.
Generalist are more likely to achieve upper-level positions such as managers and directors because of the broader base of knowledge and understanding of HR overall. Small to medium-size companies will typically hire the HR generalist as a manager in order to cover all aspects of HR. In some instances, people start out as generalists and then focus on a specialty to refine their knowledge and change career course.
It’s not that specializing will hurt you, so don’t panic if you’ve spent 20 years perfecting your skill set. The specialized among us do succeed. But we just might have a bias toward telling their stories more often than those of the generalists who are right there, too.
The Rise Of The Multihyphenate
The argument that generalizing leads to success isn’t exactly a new thing. Most of us learned the term “Renaissance Man” in high school as we memorized all of Leonardo DaVinci’s various accomplishments in both the arts and sciences. We also know that Albert Einstein didn’t stop at one invention in one industry. Far from it.
But generalizing has taken on a new form in the digital age, where we can learn, live and work from anywhere and prize flexibility above all things. A few years ago the term “multihyphenate” surfaced to describe mostly creatives who have several professions or businesses going at once.
The concept closely aligns with millennials — a generation that’s said goodbye to the traditional 9-to-5. They’re the ones most likely to tell you over coffee that they’re “a creative strategist-slash-marketer-slash-poet.” Though we often hear that statistic about how often millennials change jobs — the latest I read was that nearly half of them plan to leave their jobs in two years — it turns out they’re doing it for career success.
The reason millennials most often cite for job-hopping is a desire for more learning opportunities. And they’re doing it because, according to The Atlantic, they value both success and work-life balance more than previous generations.
I read these stats, and I get it. If ever there were a time to stack up piles of skills, try new projects and explore new opportunities, it’s now. The workforce is finally recognizing that a perfect five-year career plan is rare — if it exists at all. And companies are changing their perspective on the “ideal” job applicant, too.
There’s a good reason we’re seeing the rise of multihyphenate-slash-generalists-slash-you-name-its: They’re continually proving they’re some of the strongest candidates.
The thing I love most about generalists — and ultimately why I love hiring them — is that they’ve learned, repeatedly, how to adapt. They’ve got problem-solving minds, and they’re comfortable feeling uncomfortable (because what feels more uncomfortable than learning something new?). And they know, because they’ve done it, how to translate skills for different industries or roles. Who wouldn’t want to hire someone like that?
If you’d like to become a better generalist (and I think we all should), try asking yourself these questions:
• Do I feel comfortable making tough decisions or pivoting my strategy when unexpected problems arise?
• How well do I communicate with other members of my team? What about other departments?
• Can I accurately describe what those teams do and how they do it?
• What skills do my colleagues have (that I don’t) that could make my work stronger?
Writing down answers to these questions should give you an idea of how flexible — or inflexible — your skill set is, plus help you determine your skills gaps. From there, you can map out a professional development plan.
Mostly, remember that there’s no one definition of career success — and that we could all benefit from more knowledge and understanding.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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20a2bb3719807d9893e589e2dac211c3
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/09/18/10-ways-managers-can-make-performance-reviews-less-stressful-and-why-they-should/
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10 Ways Managers Can Make Performance Reviews Less Stressful (And Why They Should)
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10 Ways Managers Can Make Performance Reviews Less Stressful (And Why They Should)
Performance reviews are a necessary part of human resource management. They are one of the best ways of determining how well a particular employee is doing in a position and give the manager a chance to build a better relationship with their employees. The problem with these reviews, however, is that if an employee isn't skilled at talking about their achievements, the assessment may be less than useful even though the employee is great at what they do.
To work around this, managers can implement various techniques to make performance reviews less of a hassle for these types of employees. Ten members of Forbes Human Resources Council explore how managers can make performance reviews more “workforce-friendly” while still keeping them practical and useful.
Forbes Human Resources Council members share their top tips for making performance reviews less intimidating and more useful. Photos courtesy of the individual members.
1. Set Expectations Throughout The Year
The easiest way is to set expectations throughout the year. Meeting quarterly to discuss review content will alleviate some of the anxiety that comes with the process. Reviews should essentially be written by the time managers meet with employees. And getting feedback from colleagues and internal customers will help build the content for employees who aren't great at talking about themselves. - Shelli Nelson, Madison Industries
2. Make It A Collaborative Effort
Instead of prewriting or scoring a performance review, sit down with the employee and do it together. This can create great dialogue and give you both an opportunity to recalibrate your observations and expectations. The employee will feel included and take additional ownership of their success. This will ultimately support their results and their engagement. - Melinda Godfrey, Seakeeper, Inc.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
3. Enable Real-Time Feedback
Everyone knows receiving feedback is critical. But we don’t just need to hear others’ perspectives. We need to translate that feedback into action items and realistic goals. Giving and receiving feedback in real time every few months—whether it’s at the close of a project or the start of a new one—empowers people to apply that insight to their own development and leads to more honest conversations. - Carolyn Slaski, EY
4. Establish Goals Early
The best way for managers to make performance reviews both easy and effective is to establish employee goals at the beginning of each year, then meet with employees every few weeks to monitor their progress. This way, employees always know exactly where they stand regarding goal achievement, and there are no surprises at the year-end performance review. - John Feldmann, Insperity
5. Think Outside The Box And Get Creative
Managers need to put the "fun" back in the "f" of performance reviews. Think outside the box and get creative. An easy and painless strategy is the "Wall of Fame" or the "Learning Ladder." Give each team member a piece of paper to note their successes for the year and the areas of opportunity where they believe they need to grow. Celebrate the successes and create action plans for growth! - Tish McFadden, DoubleTree McLean Tysons & B. F. Saul Company Hospitality Group
6. Make It Conversational
Structure your performance reviews as casual flowing conversations rather than strict Q&A interrogations. You will get employees to feel more comfortable during their review, which will allow them to open up more about possible challenges or concerns with their responsibilities. The review becomes more honest and less daunting for both the manager and the employee. - Tiffany Jensen, Pure Grips
7. Build A Rapport And Recognize The Good Work
Building rapport early on and in day-to-day coaching moments can help alleviate the burden of a constructive dialogue in an annual meeting. Performance reviews should feel like a continuation of dialogue that has been ongoing for some time. Also, be balanced enough to include recognition and gratitude for a job well done. Remember that being a good listener is as important as delivering your message. - Ekta Vyas, Ph.D, Stanford Children's Health
8. Keep It Short And Sweet
Bearing in mind that most of your employees are likely millennials, and soon to be Gen Z, keep performance reviews short and sweet and limit the number of characters employees have to complete for every question. Spend more time in discussion than in writing. - Danielle Monaghan, Uber
9. Move The Review Away From The Office
Make the review less formal and take it outside the office. Go for a walk outside and go out to lunch and talk informally about the employee's performance. When you return to the office, share the formal review and touch on any points that you missed. It gives you one-on-one time with your employee and makes it painless. - Greg Furstner, SkillPath
10. Develop A System
Develop a system for the performance review discussion. Ask the employee to be prepared with a list of their accomplishments and why each one added value, influenced change and/or cut costs. If the employee walks in having prepared their accomplishments and given the list significant thought, they will know what to expect and be ready to speak to accomplishments versus themselves. - Christine Wzorek, White Label Advisors
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5344586f308bdee461f4445cb936e73a
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/10/17/whats-your-story-why-stories-matter-in-recruiting/
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What's Your Story? Why Stories Matter In Recruiting
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What's Your Story? Why Stories Matter In Recruiting
In today's employment market, candidates are in the driver's seat. No longer can companies post simple job descriptions online and choose from the countless applications that pour in from qualified talent. To set your company apart from other employers, leaders need to tell their stories to candidates.
Compliance and process are important, but they shouldn't overshadow the human element. Telling stories lets candidates know your company isn't just policies, procedures and mission statements — it's a group of real people working together and relying on one another to get the job done.
Stories Give You An Edge
Whether your data center runs on 100% sustainable energy or the organization was founded by a female combat veteran, there's something unique about you as an employer. Here are some compelling reasons to tell your story, and some ideas on how to tell it.
• An interesting job posting differentiates your company from competitors who just post boring job descriptions from the HR files.
• It supports the emerging best practice of making a more personal connection with candidates; before direct contact, you’re introducing a more human element.
• Stories start engaging candidates with your workplace culture even before the hire.
Stories are part of marketing your opening position — appealing to a target audience. However, it's a unique part. If your company uses leading technology or regularly posts 20% year-over-year growth, you should share that. But you also should share stories with emotional appeal that humanize your company.
Finding The Stories
Look for things that are unique about your people, culture or organization that highlight values or speak to a sense of purpose. Some examples:
• The company is family owned for three generations and has a reputation for integrity.
• Your organization provides each employee a couple of paid volunteer days each year.
• The company offers free yoga classes or massages once a week.
Get input from your top performers. What was it about your company that attracted them? In addition to less-personal things, like how great the business model is, look for real-person things like, "The schedule flexibility allows me to coach my daughter's robotics competition team." Incorporate these stories into your message to help attract similar candidates who are likely to be a good fit for your culture and mission.
Branding Is Generic; Stories Are Specific
Employment branding and value propositions are important — it's surprising how many companies still aren't using them. At the same time, these typically are generalized and apply to any position, from a help desk associate to a CITO. Stories should be more specific, which may also add substance to your overall message. For example, suppose a company has created the employment brand "Smart Careers for Smart People." It gets your attention and may appeal to the type of people you want.
Just the same, it's vague and impersonal. In contrast, the story about your company promoting volunteerism connects with candidates who value a sense of purpose. Candidates can identify with it and probably have some personal experience with volunteering. If they feel strongly about volunteerism, you've just increased your employment sticky factor.
Different Kinds Of Stories
Stories can be about the open position itself. When marketing a product or service, the goal typically is to attract as many customers as possible. However, recruitment marketing is about attracting the one candidate who best matches the ideal profile. It's a sniper approach versus a buckshot one. Stories about the role help personalize it.
For example, search for "IT manager" on any major job site, and you'll get tens of thousands of hits nationwide. The jobs share common requirements and responsibilities, but each one is unique. Put yourself in the shoes of a candidate, and consider which story would be more engaging:
• "Manage a strong IT team in a growing company."
• "Lead a strong IT team as we implement version 2.0."
The first story could apply to 80% of the jobs out there. The second is specific and makes it easier for candidates to picture themselves in the position. The first is a job, but the second is a role, and roles are more personal.
If a job involves relocation, tell the story about the new location, particularly if it's not well known. Highlight the low cost of living and the great schools, but also connect it to the people at your company: "Townville offers a variety of outdoor recreation venues. Come down to West Park on Saturday to cheer on our company softball team."
Telling your story takes a little more effort, but it's worth it. Humans have been telling stories for millennia, and they are just as influential today as they were around the fire that kept the saber-toothed cats at bay. They connect us as humans on a powerful level.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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a63a579a97b8304ac700ddd7fcf797ed
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/11/15/is-there-really-a-cybersecurity-skills-gap/
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Is There Really A Cybersecurity Skills Gap?
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Is There Really A Cybersecurity Skills Gap?
There is much discussion of a skills gap within cybersecurity. Cybersecurity Ventures predicts 3.5 million unfilled cybersecurity jobs by 2021. But recently, more people have been suggesting that the skills gap is a myth, that companies that can't recruit just don't want to pay market rate for professionals who are readily available. I have also seen firsthand many candidates who want to enter the industry but are struggling.
What has become clearer is that those who wish to enter the industry, perhaps after some training, find it very hard to do so. This situation is contributing to the view of a skills shortage. These candidates don't know where to start with applications and find it hard to make themselves stand out when they have no experience. The irony of this is that companies also find it incredibly hard to find entry-level talent.
One of the reasons may be that formal education is not the only route into the industry. We know that 81% of hackers are self-taught. That makes it harder for candidates to write a resume, and harder for employers to assess one. The best thing that those who want to enter the industry can do is network. This helps candidates and employers in a number of different ways and is a great first step for those who want to get into an industry.
The issue with companies hiring entry-level people into a cybersecurity job is that not many of the jobs are entry-level. There is certainly a demand for candidates at this level, but many of the roles that go unfilled are more senior. This problem is not unique to cybersecurity. Companies that hire at a more junior level and train people to do the job required can reduce their time to hire as well as the overall cost of recruiting for the role. Hopefully, it also increases retention as career progression is incredibly important to cybersecurity professionals. Rather than offering higher salaries, companies should consider what parts of a job description are essential.
Broadening the requirements of a job can open up a new pool of workers. There is under-employment among neurodiverse individuals, who are often put off applying by long lists of requirements. Women are also often put off by these wish lists. Making a more realistic list of requirements may attract candidates who are returning to work, including women returning after a period of maternity leave. This would have the added benefit of improving diversity in the industry.
There may be other sources of talent employers are leaving untapped, too. JPMorgan Chase hired roughly 2,100 individuals with criminal backgrounds last year — around 10% of its new hires. People returning to the workforce often have broader business skill sets, even if they do not have the cybersecurity experience. This fills a critical skills gap for those who understand the wider business and can communicate in non-technical language. Companies, in general, are limiting their talent pool by not opening up their requirements.
Those who question if there really is a skills gap would do well to carefully consider the reports that there is zero unemployment within the cybersecurity industry, that candidates can find a new job in under two weeks and often have multiple job offers to choose from. Some companies have unrealistic expectations or offer salaries way below market rate, and they are not the only ones struggling to hire. Very few organizations I work with within cybersecurity say they find it easy to hire. (The ones that do tend to have opened up their requirements and have a large percentage of their roles filled by women.) Salaries have also increased significantly to fight the demand issue. Some of the roles have increased by 40% in less than two years. The solution is not simply to pay more money.
The research highlighting the skills shortage is overwhelming, and all reports suggest this will get worse as the cyber threat increases. It is unsurprising that some people feel a mismatch between the data and their personal experiences, however. Companies would do well to consider what they can do to open up their talent pool if they are serious about ensuring they do not suffer as a result.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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25350f42f037ff6ae6a286e00a7a2b14
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/12/06/tackling-employee-disengagement-11-signs-to-look-for/?sh=38f8089937a1
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Tackling Employee Disengagement: 11 Signs To Look For
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Tackling Employee Disengagement: 11 Signs To Look For
Disengaged employees can become a severe problem. Not only are they unhappy at their jobs, but they risk affecting their coworkers’ morale, as well. In addition, they can have a negative impact on the company’s productivity and company culture, with potentially devastating effects.
Behavior of this sort is contagious and can spread like wildfire within some companies. Containing and putting the fire out before it spreads is crucial to saving the organization.
Below, 11 experts from Forbes Human Resources Council share some of the red flags that conscientious managers should keep an eye out for to spot employee disengagement before it starts spreading.
Members share some telltale signs that your employees might be disengaged from their work. Photos courtesy of the individual members.
1. Indifference
Indifference is a red flag an employee is becoming disengaged. If they are no longer caring, participating or doing the things they used to do when they initially started the job, this is a cause to move to correct. The best policy is honesty. Ask the employee what can be done to re-engage them in the workplace. Implement easy wins and create an action plan for continued satisfaction. - Tish McFadden, Maryland Oncology Hematology
2. A Downturn In Enthusiasm
Engaged people all share one thing: They enjoy the challenges inherent in the activities they pursue. When our abilities and interests are uniquely matched to an activity, we become deeply invested in it. This is the linchpin of engagement. It makes even hard work fun. So if you note a downturn in someone's behavior (e.g. volunteering or speaking up less), take the time to sit down and check in. - Leeno Karumanchery, PhD, MESH/Diversity
3. No More Passion For Innovation
You can tell an employee is falling through the cracks when their feedback and ideas for the company's future become generic or even nonexistent. If your team members are reducing their tasks to a day-to-day checklist and not showing enthusiasm for innovation, get them back on the right track by setting clear goals for their progress and encouraging them to improve their work-life balance. - Laura Spawn, Virtual Vocations, Inc.
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4. Drop In Participation And Accountability
As a manager, if you notice a sudden drop in team participation, lack of responsiveness to emails or requests against a previous baseline, then one should look deeper and see what could be driving that. It could be something at a personal level or it could be disengagement. - Srikant Chellappa, Engagedly
5. Radio Silence
Can you hear it? No, you only hear silence. That radio silence is the sound of employees becoming disengaged. Good managers address disengagement by engaging employees to identify “what” the cause of low engagement is and then they formulate a “how” of viable solutions to address specific challenges. - Bridgette Wilder, Wilder HR Management & EEO Consulting
6. A Decline In Work Quality
It’s rare that employee disengagement is identified by one sign, as there are typically multiple changes in behavior or work output that signify a disengaged employee. One common trait, however, is a noticeable decline in the quality of an employee’s work. When it becomes a pattern, management should address it in order to determine whether it’s due to disengagement, and if so, how to reverse it. - John Feldmann, Insperity
7. Frequent Tardiness
A clear sign of employee disengagement is frequent tardiness to meetings and work, including taking regular sick or personal days. When these patterns of behavior emerge, a manager should perform a wellness check with the worker to ensure everything is OK and revisit expectations. - Genine Wilson, Kelly Services
8. Absenteeism
Employees who call in sick regularly, duck out early and skip meetings and work functions are often disengaged with the organization. Managers can address this behavior by getting to the root of the problem and helping that person overcome that challenge. If absences are legitimate illnesses, think of ways to encourage employee wellness and incentivize participation in health programs. - Cameron Bishop, SkillPath
9. A Negative Attitude
The single biggest problem in terms of disengagement is a negative attitude. It’s easy to spot, can be hard to address, and is toxic not only for the unhappy employee, but for everyone around them. If someone is making disrespectful comments or resisting leadership direction, managers must address head on with a direct conversation to find out what is at the root of the employee’s concern. - Tracy Cote, Genesys
10. Sudden Drop In Career Progression
Disengagement has many symptoms, but an abrupt drop in employee career progression should definitely be a red flag. This manifests itself as a sudden lack of self- or professional development, which not only hurts the employee but the organization, as well. Managers can encourage training and development by adding these requirements to employee goals that align with company values and objectives. - Dr. Timothy J. Giardino, Cantata Health & Meta Healthcare IT Solutions
11. Less Care For Professional Appearance
Disengagement shows in the amount of effort you put into your work and that starts with appearance. Employees that start taking less care over their professional appearance may be doing so because they no longer care about the opinions of their colleagues. It may also indicate a personal issue, and addressing it is a great opportunity to look after your employees. - Karla Reffold, BeecherMadden
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cccc75b5445c6d58bca2de44fb715387
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/12/20/why-our-healthcare-conversation-must-consider-how-we-care-for-nurses/
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Why Our Healthcare Conversation Must Consider How We Care For Nurses
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Why Our Healthcare Conversation Must Consider How We Care For Nurses
photo: Getty
Nearly a decade ago, the Affordable Care Act focused the country’s attention squarely on health. From who has access to how we will pay for it to what tech’s role is in the evolution, questions about how to tackle our nation’s healthcare quandary are being discussed around dinner tables, in boardrooms and on the political stage.
As these conversations continue, we must also consider healthcare professionals, without whom there would be no care.
That is the future we are facing. By 2024, the nation will have 1 million fewer nurses than required to provide adequate care to our communities. We’ve understood this to be a threat to public safety for some time. In fact, as far back as 2002, the New York Times reported on a study released by the Joint Commission on Accreditation of Healthcare Organizations showing “low levels of nursing staff were cited as a contributing factor in 24 percent of the cases” of “unanticipated deaths and permanent loss of function.” That means, for example, if your aged parent’s ICU nurse — or your child’s or your own — is caring for too many patients because the hospital is understaffed, the risk of death increases significantly.
Graver still, nurses see suicide rates much higher than the national average, owing in part to being overworked and burnt out.
To solve this problem, those of us in leadership positions must address it head-on at each stage of a nurse’s career, from aspiration to retirement.
The Shortage Starts In Schools
Boomer nurses are retiring, and younger generations have yet to be trained and readied to replace them. Why? Simply put, there aren’t enough nurse educators to teach at nursing schools.
Part of the reason may be that nurse teachers make 20% less than nurses themselves, even though they have the same education level or higher. While nurse practitioners earn an average of $97,083 annually, nurse educators only make $78,575 annually. In order to have the qualified nurses we need, we must prioritize their training.
We’re also facing a classroom shortage. For those interested in nursing, there simply isn’t staff to teach them. In fact, U.S. nursing schools turned away over 75,000 applicants due to staff shortages in 2018.
If we’re to tackle the nurse shortage, we must not only expand access to higher-level education for candidates, but we must also streamline licensing and certification processes.
Nurse Abuse
A 2013 study from the Institute for Safe Medication Practices asked 4,884 healthcare workers, including nurses, physicians and management staff about workplace harassment, including physical and verbal abuse. Sixty-eight percent of respondents had been verbally abused, and 18% had had objects thrown at them. No one should have to go to work afraid for their safety. The people who care for us need care too.
These frightening stats may come as a surprise to those outside of healthcare, but they’re the reality for many nurses and healthcare workers.
Nurses on the job for years see it all — deaths, births, sickness and health. How they are supported through those experiences does much to shape their ability to provide care for their patients. Access and encouragement for mental health services is one solution. Community — both online and in real life — is another.
Antiquated Hiring Processes
Hospitals looking to hire today still rely on job boards and traditional recruiting agencies. These methods have not changed since the 1990s and yield poor results: The national average for hiring a permanent nurse is almost 90 days.
Plus, many nurses frequently experience the “black hole” of HR because the process is human-powered, with staff reviewing hundreds upon hundreds of resumes a month before having to assess licensing status and certifications to ensure a potential candidate fits the bill.
Can you imagine wading through three months of interviews only to learn you didn’t get the job? And knowing starting over means submitting more applications, most of which receive no response? These are problems we as leaders in the healthcare industry can solve.
Healing Nurses With Technology
We can’t improve healthcare as a whole without improving work for healthcare practitioners. A hospital is only as good as the people who work there. We can do better. Technology can help.
Companies like Google and Apple are innovating healthcare through consumer wearables and IoT. But without qualified and experienced staff to read those vitals, our communities won’t have quality health. Now is the time for tech to act more holistically so that we can solve systemic problems. From expanding education online to making training more accessible to automating license tracking to streamline hiring processes to providing scalable support for healthcare workers, tech reveals many opportunities to solve the nurse shortage crisis.
Quality online education programs have proven indispensable to MBA students juggling careers with advancing their education — and long-term opportunities. Even today, major employers like Walmart are getting into the mix, offering employees undergrad education as part of their benefits package. If we’re going to truly offer quality care in the U.S., we need to leverage online education opportunities both for nursing degrees and for continuing education work just as other industries do. Not only does technology help make training more affordable; it powers scalability, meaning we can get more nurses the knowledge they need to best support our communities.
Research has shown how better social connections at work means better performance overall. While the same is most certainly true for nurses, because their workdays are filled with solving others’ challenges, there is little time in their off-hours to dedicate to engaging socially with each other. Digital platforms can help give them the safe space they need to share personal stories, support one another and build community. From Slack to Facebook groups and online communities dedicated to nurses, hospitals and nurse groups must leverage the vast technological offerings already used by other industries to connect their healthcare professionals with one another.
In addition to focusing on consumer technology, the time is now for leaders to focus on the healthcare workers that drive compassionate care, improving outcomes for communities across America.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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944cd3d2eb27ca0f5bec9e68fe93f4d9
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/12/26/how-do-we-prepare-our-workforce-for-the-jobs-of-the-future-that-dont-exist-today/
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How Do We Prepare Our Workforce For The Jobs Of The Future That Don't Exist Today?
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How Do We Prepare Our Workforce For The Jobs Of The Future That Don't Exist Today?
photo: Getty
The pace of change in the business landscape is more rapid than anything we’ve ever seen before. Technologies like AI and machine learning are fundamentally changing the ways we live and work, and entire paradigms of business models are shifting. Industries are transitioning toward “everything as a service” (think Uber, Airbnb, grocery and prepared meal delivery, etc.) and the associated driver/delivery and host roles that are created out there because of this.
These and other massive sea changes will bring along with them the greatest shifts in the global workforce since the Industrial Revolution. A McKinsey report predicts that 50% of current work activities are technically automatable. Let that sink in: Half of the jobs that currently exist in the United States have the potential to be taken over by machines.
But it’s not all bleak, as new jobs are going to be created along the way as well. Fifteen years ago, no one knew what a YouTuber was, and today it’s the career aspiration of over half of children and teenagers, according to one survey. Experts agree that jobs that rely on nonroutine cognitive tasks (creative thinking or problem solving) or require strong interpersonal skills will be harder to phase out. The world will still need human beings to invent, persuade, empathize — and yes, create entertaining YouTube videos.
But even when outright elimination isn’t on the table, we can expect some of the essential functions of difficult-to-automate jobs, like law, to shift as routine tasks are taken over by advancements in technology.
This transformation poses huge difficulties for those of us in HR: How do you catch up to changes that haven’t happened yet? How do you prepare your workforce for a shift that will come so rapidly you won’t have time to ramp up or plan? How can your business meet this challenge without looking into a crystal ball to know what will happen next?
I’ve been thinking a lot about these questions, and I have some ideas — no crystal ball required.
Create a nimble workforce.
As HR leaders, it’s our job to help employees become adaptable to the changing demands of work. Though no one can say for sure what new jobs will be created, we do know what kind of work will still require human input. Repetitive and predictable jobs will slowly disappear, but demand for nonroutine work will persist. Technologies and trends will come and go, but whatever the future holds, the ability to look at problems from different perspectives and develop creative solutions will remain valuable. The same can be said for the ability to empathize and create meaningful connections with people. A growth mindset and the ability to continually learn will be key employee skills, and all employers will have to think of themselves as education centers that will continually train their workforce to adapt and evolve.
These competencies will become more important than ever for workplace success, and developing them will provide knowledge workers with a safety net against obsolescence. Skills will enable workers to be flexible and able to successfully adapt. Companies need to be focusing on continuous skill development now in order to prepare workers for the changing work landscape of the future.
In order to empower employees to enhance their skills in these core areas and encourage ongoing learning and personal growth, we need to create a culture of development.
Foster a culture of development.
If you want to create a culture of development in your workplace, setting goals, measuring performance targets and giving feedback can’t be once-a-year or even once-a-quarter events — they need to be ongoing. Organizations are starting to take notice: Nearly 10% of Fortune 500 companies reportedly have already abandoned the annual review process.
A far more effective methodology is to provide regular check-ins and lightweight performance feedback to employees so they can improve their skills on an ongoing basis. This approach is called continuous performance management, and our research has found that it's a key enabler of continuous employee development, resulting in a more motivated, agile and, ultimately, adaptable workforce.
Continuous performance management is based on the idea of setting objectives and key results (OKRs) to achieve audacious goals, as popularized by John Doerr in his book, Measure What Matters. In Doerr’s words, continuous performance management is “a new HR model for the new world of work” — a way of using conversations, feedback and recognition to motivate employees and spur continuous, gradual improvement.
Managers should set developmental goals with employees one-on-one and then provide feedback at regularly scheduled sessions and on an ad-hoc basis. This system ensures that workers are continuously developing their capabilities and results in skill-building at an accelerated rate.
Wholesale change used to take generations. Now, by the time you’ve upgraded your phone, one in every two jobs will be new. We need to begin developing an agile workforce now to prepare for these changes. Continuous performance management will enable workers to constantly develop new skills, allowing them to adapt to the shifting demands of work in the face of widespread change.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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44ad7a01ab5a7be574787719b19f0124
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/01/03/how-to-find-new-talent-in-your-existing-workforce/?sh=42fb49941b78
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How To Find New Talent In Your Existing Workforce
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How To Find New Talent In Your Existing Workforce
photo: Getty
Upskilling, reskilling, continual learning — no matter what you call it, chances are you’re thinking about the need to teach your workforce new skills to compete in the future of work.
Organizations are transforming faster than ever. With technical innovations adopted by businesses every day, new skills requirements continue to emerge, while other skills become obsolete. And as unemployment rates continue to decline, the skills shortage is only increasing in severity.
This new landscape demands new skills at an exponential rate. Businesses can no longer rely on hiring new employees to keep pace. To stay ahead of today’s workplace disruption, organizations need to think about how they can continuously access talent by mobilizing internal human capital.
Why Invest In Upskilling Your Employees
The skills shortage is becoming a tangible reality for most. In the U.S., the rate of job openings, 4.6%, is now higher than the rate of unemployed Americans, 3.5%. Not surprisingly, SHRM’s 2019 skills gap report found 83% of recruiters had difficulty sourcing talent in the past 12 months, with 75% attributing the difficulty to skills gaps.
As companies continue the fight for talent, they’re realizing they can win the war at home. In a recent PwC report, the majority of executives surveyed listed upskilling as their organization’s top talent acquisition strategy, and for a good reason: It is now cheaper to upskill current employees than to source talent externally, according to a 2019 report by the World Economic Forum.
The current talent drought is not the only reason for an uptick in upskill initiatives. The fast-paced obsolescence of skills is increasingly driving inter-mobility initiatives. McKinsey Global Institute estimates that by 2030, the shortened life cycles of jobs due to rapid technological advancement will require the acquisition of new skills by nearly 40% of the U.S. workforce. Organizations that invest in upskilling employees are setting the stage for long-term, sustainable success.
In 2008, AT&T launched a retraining initiative after analyzing the workforce skills the company would need to thrive in the new, digitalized world. The skills of a large number of employees were projected to be obsolete in less than a decade, and extensive skill shortages were fast approaching.
Rather than attempting to hire external talent to fill the looming skills gaps, AT&T developed an internal recruitment plan for hard-to-fill positions to retrain existing employees. The company’s Future Ready initiative is a $1 billion web-based upskill effort that includes online courses, collaborations with leading universities and an online portal that creates a customized skills profile for each employee, matching them to available jobs projected to grow.
A growing number of top companies like Amazon, JPMorgan Chase and Walmart have launched upskilling programs. In 2019, Amazon announced its $700 million push to upskill its U.S. workforce. The online retailer will provide onsite training and tuition reimbursement over the next six years to meet its goals.
With 84% of today’s workforce eager to learn new skills, it makes sense to leverage talent in your workforce. Below are five steps to designing and executing an upskilling initiative.
1. Conduct an internal talent analysis.
An effective workforce development strategy requires an analysis of the workforce to assess staffing needs and locate talent gaps that are the most significant, the highest priority and the most difficult to fill externally. Use a skills assessment to quantify each employee’s skills and create individual profiles.
2. Forecast your future workforce needs.
To gain a clear picture of the size, type and timing of skills gaps, project the number of employees and the skills that will be needed to meet business objectives in the future. Consider future company needs, new roles and potential outsourcing or automation of current functions that would render some roles obsolete or require new skills. Estimate the types of new skills that will be needed, the impact of new technologies and the timing of these changes.
3. Access the right talent.
Armed with a skills profile for each employee, human resource professionals can execute an internal recruitment plan for hard-to-fill positions. By exploring adjacencies — jobs that share similar skill sets — HR can shift employees into new roles and strategically create upward and lateral career paths for employees with in-demand skills.
4. Upskill your employees.
Regardless of the training platform, proficiency requirements for positions must be directly aligned with the curriculum and subsequent assessments. From tuition reimbursement to mentoring programs, apprenticeships and online educational platforms, employers are investing in a diverse selection of programs to upskill their workforce.
5. Create a system to monitor progress over time.
Develop a real-time system that helps monitor progress. As market conditions continue to evolve at an increasingly rapid rate, the days of approaching workforce planning as an annual exercise are over. Organizations should regularly track, measure and review the internal talent development strategy monthly or, at the very least, quarterly.
The decision to upskill is repeatable, no matter your size or industry. Executing a well-thought-out talent development plan strengthens your company’s human capital component and leads to better performance and profits.
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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8e14c4029f60be60bc44a53cabbc5ee0
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/01/28/11-pieces-of-bad-advice-for-job-seekers-and-what-they-should-be-doing-instead/
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11 Pieces Of Bad Advice For Job Seekers (And What They Should Be Doing Instead)
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11 Pieces Of Bad Advice For Job Seekers (And What They Should Be Doing Instead)
Looking for a job might be frustrating, but part of that frustration is finding the right advice to take. Everyone online seems to have a different idea of what a job seeker should or shouldn't do to get hired.
Because the competition for jobs is stiff, finding advice to help you get and nail an interview or perfect your resume is a necessity. However, bad advice can do more harm than good, and might even ruin your reputation for other interviewers.
To help job seekers navigate through the mire of misinformation out there, 11 members of Forbes Human Resources Council share some of the worst advice they've seen offered to job seekers, and provide their insight into what a potential employee should be doing instead.
Members share some "bad" job search advice that professionals shouldn't follow. Photos courtesy of the individual members
1. Customize Your Resume For Every Job Posting
Many resources talk about customizing your resume pre-job listing. This takes a lot of time investment and may not yield the desired results. I always recommend that my candidates customize their resumes based on the type of job and not for every job posting. Many jobs use the same type of descriptors for their posts, so save time by grouping your customization based on job types. - Kelly Loudermilk, BuildHR, Inc.
2. Add Photos To Your Resume
Whoever told you to put your photo on your resume did you a disservice. Don't waste space on a picture; it's on your online profile. Focus your resume on the substance of your accomplishments. Recruiters and hiring managers actually read resumes that skip generalizations and tell a story, so make sure yours tells the story of your career journey and highlights what you've achieved along the way. - Jennifer Marszalek
3. Focus On Explaining Any Employment Gaps
Job seekers are usually told to be prepared to explain “gaps in their resume” because employers make assumptions. But people can be unemployed for reasons beyond their control (layoffs, medical issues, etc.) that have nothing to do with their skills. Job seekers should use a functional resume format, not chronological, so they can highlight their experience and skills rather than the timeline. - Regina W. Romeo, CPS HR Consulting
4. Always Be Closing
I see this a lot and it flashes a big red signal when the candidate is aggressive about wanting to know how the interview went with the interviewer at the end of the interview and if they were a good fit and what would prevent them from being hired. It puts the interviewer in an uncomfortable position. Some of them follow up aggressively after that, as well. This displays a lack of confidence. - Srikant Chellappa, Engagedly
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
5. Do Anything You Can To Stand Out
There seems to be an idea out there that if you stand out, you’ll get the job attention you seek. But there are good and bad ways to stand out. Sending prospective employers books, gifts, handwritten notes, resumes attached to balloons, etc. is risky and can make you appear desperate. Stick to the traditional approach -- leverage your network and let your accomplishments speak for themselves. - Tracy Cote, Zenefits
6. Make Your Resume As Impressive As Possible
I once received a resume designed as a 3D pop-up book. It must have taken the candidate hours to cut and plan. While that was impressive, they spent more time on the design than they did the content. What would have served better? Help me to connect with the real you. What are you passionate about, what are your goals, and how will you work to achieve them? Entice me to sit next to you at lunch. - Pamela Goldswer, Townsend Leather
7. Include Keywords In Your Resume
Keywords are not important for the majority of companies and recruiters. It also makes you look as though you don't have faith in your resume and what you can deliver. What is important is the personal touch and relationships. Reaching out to someone at the company you want to work for will do you far more good than stuffing random keywords into your resume. - Karla Reffold, BeecherMadden
8. Hide Resume Keywords In White Font
Years ago, when online job boards were new, a few job seekers found that if they submitted a resume that included a long list of “invisible” keywords in white font, it would show up in more resume searches. Since then, recruiters and hiring managers have caught on to this trick, and would much rather see relevant keywords included in the body of a resume describing experience and accomplishments. - John Feldmann, Insperity
9. Follow Up With The Employer Several Times
While I love candidates who take initiative, repeated follow-ups are not necessary. They may actually hurt a candidate's chances. Best advice: Follow the company's application procedures with completed materials. Most have an online system where you can track the status of your application. If you haven't heard anything within one to two weeks, one follow-up email or phone call is acceptable. Not more. - Courtney Pace, FedEx Employees Credit Assoc.
10. Just Drop By And Hand Deliver Your Resume
Someone actually suggested to a candidate that they "just drop by" our offices to hand-deliver a resume. Not only are people's schedules too tight to take an unexpected interruption, but in today's interconnected world, a hand-delivered resume showcases the candidate's lack of understanding of how to apply online and brings into question their ability to keep up with and understand technology. - Sherrie Suski, Tricon American Homes
11. Ask For Potential Employers' Time
Asking someone to coffee has been promoted as a good tactic when it comes to seeking employment. It's never a good idea to ask someone for their time. When connecting with someone via LinkedIn or email, simply thank them for connecting and let them know that you’ve applied to a specific role within the organization and if they have any questions, you’ll happily make yourself available. - Jamie Hoobanoff, The Leadership Agency
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ad1e9e8a02ee31133e5af86cddb999fa
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https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/01/30/six-liquid-workforce-trends-employers-will-see-in-2020/
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Six Liquid Workforce Trends Employers Will See In 2020
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Six Liquid Workforce Trends Employers Will See In 2020
Photo: Getty
The impact of the freelance economy is already significant, contributing nearly 5% of U.S. GDP. But beyond dollars, the liquid workforce is reshaping the future of work. As a chief talent officer working with freelancers every day, I am continually looking at the changes in how we work and what we work on. These are my predictions of the key trends for the liquid workforce in the year ahead.
1. The professional workforce will continue to shift more from full-time employees toward the liquid workforce.
Skilled services represent the largest freelancing category, according to a joint study by Upwork and Freelancers Union, “Freelancing in America.” The same research found that 35% of U.S. workers freelance already, with over 60% starting in the last five years. Millennials and Gen Z are more likely to freelance as well as to hire freelancers.
This shift will require companies to approach and manage their liquid workforce strategically, rather than transactionally. HR leaders must develop new policies and processes to manage a blended workforce.
2. A global talent shortage will increase the pace at which companies engage the liquid workforce.
Deloitte reports that 45% of employers are having trouble filling open positions, a challenge that becomes even greater the larger the company. Tapping into the liquid workforce will help companies close their talent gaps and rapidly respond to business needs.
However, the war for talent will extend to the liquid workforce. Business leaders need to invest in processes, policies and systems that will help them source, attract and retain the best liquid talent. Your onboarding process is just as crucial for building a relationship with a freelancer as with a new employee.
3. The expansion of the liquid workforce will create a workforce that is increasingly geographically distributed.
Over the next decade, an overwhelming number of companies will engage with remote workers — both in terms of traditional employees and freelancers. The growth in communication, project management and collaboration technology options is accelerating the growth of virtual teams and the ease of integrating freelance workers.
Businesses need to take a strategic approach to build out and grow a virtual workforce. A study published by Harvard Business Review found that companies that prioritized working slowly and strategically averaged 40% higher sales and 52% higher operating profits over three years. Invest in training your managers to develop the skills required to manage a virtual and blended workforce successfully.
4. The liquid workforce is fueling a new skills-based economy.
The World Economic Forum’s “Future of Jobs” report notes that “by 2022, no less than 54% of all employees will require significant re and upskilling.” Freelancers recognize the importance of continually updating and expanding their skills. “Freelancing in America” found that over 60% of skilled freelancers have done skill training in the last six months, 1.6 times the rate of nonfreelancers. Freelancers are investing time in developing both soft and hard skills.
Course offerings with marketplaces like Udemy, university courses through edX, vendor certifications, professional association classes and more make it easy for freelancers to keep upskilling. Automation technology and AI may be disruptive, but for skilled freelance workers, these technologies offer the opportunity to be more effective and efficient, while honing their skill-based services.
5. Growth in the liquid workforce will reshape employee retention strategies.
For highly skilled workers, freelancing offers the opportunity to make as much or more than they do in full-time jobs while enjoying more flexibility, greater control and better work-life balance. The risk of losing top talent is even greater with millennials and Gen Z-ers.
Business leaders need to evolve their current policies, practices and programs to retain employees. Consider incorporating elements based on the benefits of freelancing. For example, foster alternative work arrangements. Increase support for self-development, and structure more project-based work.
6. Focus on the rights of freelance workers will continue.
With California’s AB5 law now in effect, other state legislatures are also considering new rules and regulations related to freelancers. However, any other legislation passed is not expected to be as extensive as AB5.
The continued focus on regulations related to freelance workers underlines the importance of ensuring your company has an onboarding process for freelancers, including all the necessary documentation to avoid any potential misclassification issues, and a detailed contract.
The liquid workforce is reshaping the future of work. Managers will need new skills to lead a blended workforce of employees and liquid workers successfully. Companies must adapt their cultures, processes and systems to capitalize on the potential of the liquid workforce. Is your company ready for the liquid workforce?
Forbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
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