Tag Archives: retention

BALANCE AT WORK BLOG

How smart SMEs save time and money with assessments

For every business, the pressure is on to hire the right person the first time! But for small and medium enterprises (SMEs), that pressure is so much stronger. There’s not only the cost factor involved,  but also the social factor of how much influence one person can have, especially in a SME.

Finding the right person takes time

…but using assessments will allow you to make a good decision faster. Using an automated recruitment assessment process as a filter at the beginning of the recruitment process can eliminate the need to read every resume received. Your minimum criteria regarding eligibility can be set with respect to qualifications, prior experience and training, so unsuitable candidates will not proceed to the next level. Instead of reading a large pile of resumes, you only have to consider the shortlist of those who ‘can do’ the position.

Part two of finding the ‘right’ person concerns their suitability to the job. Yes they are capable of doing it, but how will they fit with your organisation? Do they really enjoy  the work they are doing? Will they want to do the job well? Today’s technology by way of assessments, can provide reliable data which measures an individual’s strengths, weaknesses and motivations as they relate to a specific job.

Finding the right assessment for your company

When looking for an assessment to use when making your talent decisions, see if the criteria is met with the following questions:

1. Is the assessment job-related?

2. Can the assessment be validated against job performance research?

3. Is the assessment easy to administer (or can you find someone to administer it for you if you are not inclined to do so yourself)?

4. Are the results easy to understand and interpret (for both you and your employee)?

In an organisation where staff numbers are small, there may not be an experienced interviewer or a person available with the knowledge to Identify that ‘right’ person. A good assessment program will also provide tools such as interview guides relevant to the position and selection criteria upon which decisions will be based.  

But what happens after you’ve identified and hired that right match for your business?

How do you keep them for the long run? If the normal time frame for employee retention is two years, what can you do to avoid the same process again in the not too distant future? As with most businesses, turnover needs to be avoided in an SME as it can create a multitude of problems such as there not being ample staff to handle the workload left by the vacancy.

Again, a good employee assessment program such as Harrison Assessments will be able to identify what is important to your new employee – what engages them, what do they need for their long term development and how they will fit in with your business culture.

When all these benefits are measured, it’s easy to see the return on your initial investment on an employee assessment program. You have the ‘right’ person skill-wise and organisational culture-wise … and you can feel a bit more secure that it’s unlikely you will be repeating the process for that position any time soon!

 

 

 

 

 

 

BALANCE AT WORK BLOG

It’s not all about the money

The recently released Hay Group Australian Salary Movement Index report has some interesting things to say about the basics of finding good staff – and keeping them:

The research reveals that organisations wishing to have higher engagement among employees and lower turnover should focus on getting these five fundamentals right.

1. Confidence – in the organisation and its leadership, providing clear direction ‐ line of sight ‐ and
support

2. Development – ensuring clear pathways for career development and progression are in place and communicated

3. Selection – ensure you are selecting the right people for the right job in order to maximise employee contribution and minimise turnover costs

4. Reward – fair (internal and external) recognition of both monetary and non‐monetary methods,
ensuring it’s a good fit for the organisation

5. Enabling employees – giving people what they need to do a good job, and an environment that is
positive and one that fosters innovation and creativity

How do you apply these basics in your organisation?

BALANCE AT WORK BLOG

How well do you know your team?

At Balance at Work, we often get involved in helping our clients hire the best people. We also care about how they retain the best.

To keep key people, you need to know them and their needs.

As an exercise, imagine I’ve asked you to tell me the following about each of your top performers:

  1. Why do they work for you?
  2. What are their highest values?
  3. What could they earn elsewhere?
  4. What frustrates them about their job?
  5. What do they want to do in their career?
  6. How would they most like to be rewarded?
  7. Do they like the culture of your workplace?
  8. What worries them the most in their life right now?
  9. What are they most excited about in their life right now?
  10. How easy would it be for them to get another job if they wanted to?

How would you go?  Would you have all the answers?

If you found some gaps, it might be time to do some research – by which I mean having some conversations. Your interest in the answers to these questions demonstrates your interests in your team as people, not just ‘human resources’.  If you would like some help in retaining your team, please click here for more information.

Don’t you think they’ll feel like sticking around longer if they believe you care?

As always, have your say below…

 

BALANCE AT WORK BLOG

Even your best friend won’t tell you…

collaboration

Complain to a colleague about an empoyee and they might tell you to just get rid of the person. You’re less likely to hear that you might get better performance by your staff if you give them more coaching, recognition or opportunities.

In traditional ‘command and control’ management, the assumption was that a staff member should do as they’re told and just get on with the job. If they couldn’t do that, they should be moved on.

The workplace has changed but remnants of this thinking remain.

With a more highly educated, skilled and mobile workforce, old styles of management are no longer viable, no matter how much we might believe life was simpler back then.

Using fear to motivate staff is not sustainable.

Those who continue to apply this model are short-changing their business and their staff. Here’s why:

  • Companies that build a great culture by promoting well-being, treating staff with respect, providing coaching and modelling honesty and integrity have high sustainable staff engagement. These companies had an average operating margin of 27.4%.*
  • Those that rely on traditional motivation, such as bonuses, had an operating margin of 14.3%.*
  • Where staff were not engaged or motivated, the operating margin averaged 9.9%.*
  • Companies with high levels of staff engagement posted returns 22% higher than the stock market average.^
  • Companies with disengaged employees had returns 28% below average.^
  • The top three drivers of engagement were career opportunities, recognition at work and brand alignment.^
  • With only one third of employees, out of 32,000 surveyed, saying they are highly engaged,* finding a way to treat staff better is a huge, hidden source of competitive advantage.

What can you do to increase employee engagement, motivation and retention?

Your friends might not tell you, but we will! Or you could ask your staff…

*Towers Watson 2012, ^AON Hewitt 2010

BALANCE AT WORK BLOG

Three things you should know about every new employee

You’ve read the CV’s, interviewed and done reference checks. Could you have missed something?

Assuming your new employee has the qualifications, experience, skills and attitudes required to do the job, there are three basic things every boss needs to know about their latest hire:

1.  How long are they likely to stick around?

Your needs will vary with the job, but the cost of hiring and training someone new usually means you would like them to stay working for you for a reasonable time.

2.  How well do they respond to feedback?

Some people strive to be the best they can while others are quite happy the way they are. What if you hired someone who sees no reason to change and views feedback as criticism?

3.  Are they motivated to put in effort commensurate with the rewards they expect?

If you are paying someone well, you will be expecting them to work at a certain level. It’s useful to know if they are likely to possess the self-motivation required.

These are just 3 of the 156 work-related traits we measure using Harrison Assessments to help you predict performance. 

We call these traits:

1.  Wants Stable Career

The desire for long-term or permanent employment.

2.  Receives Correction

The tendency to accept guidance intended to improve performance.

3.  Pay Minus Motivation

The tendency to have strong desire for money while lacking the personal drive necessary to earn it.

Would it make a difference to you to know these things before you bring someone on board?  Contact us to find out more.

BALANCE AT WORK BLOG

Critical skill shortage 4: People management

This is the fifth article in a series based on data about skills shortages in the banking and finance sector, collected in the Kelly Skills at Work 2010 study.  See our blog for previous articles in this series.

The ability to lead, motivate and inspire others is another skill that was identified as being critical to success, yet in short supply among local mid to senior level managers.

In the previous article, we looked at the importance and definition of strategic thinking.  A related basic people management skill is to ensure your staff have the right skills and personal attitudes to deliver on your business strategy.

To be successful as a leader, managers need to be willing to explore and use different ways to:

  • Identify and hire top performers,
  • Inspire and motivate people in the business, and
  • Support others to develop and extend their skills.

Plenty of information exists on how to manage people by applying active listening, coaching and delegation techniques, as you will find if you do an internet search on any of these terms.

What is harder to find out is how to negotiate the more  subtle aspects of keeping people engaged and committed.

This is not ‘book learning’ but instead comes down to being self-aware and sensitive to the preferences and needs of others.  The real skill is in knowing when you need to get help and learn more, both about yourself and about others.

‘Employee loyalty, motivation and trust in the organisation all suffer if leaders and managers are careless about the way they treat people.’

Where do you think you stand?  Could the way you treat people be affecting your bottom line?

Hint:  The answer is always  ‘Yes’ – but the impact may be positive or negative in your organisation!

We provide our clients with specialised tools and coaching for both the practical aspects of people management and f0r developing the self-awareness required to be able to manage people well.

Which part of people management could you use some help with right now?

BALANCE AT WORK BLOG

Are you ready for the long goodbye?

Last week’s article on how many employees want to change jobs – and why – had some great feedback.  If you missed the article, click here to read it.

Among the responses to the article was this:

Hi Susan

Sometimes I can’t let your articles go by without comment.

I am stunned at the stats. I thought it was only me, but in all the job changes I have had in my life, the reasons were, those outlined in your article for each and every time I moved on. Of course we don’t say this in case we burn a bridge or two for our future and we don’t want to appear to be the problem so we put up with it for as long as we can then move on to “an opportunity that provides me with the scope to develop” or “one that will allow me to expand my horizons”, or ” a move that will more consistently complement my skills and future goals” and other stupid euphemisms.

The writer later told me he believes people don’t willingly leave a job they really love.  He did so once for ‘a ridiculous amount of money’.  “That was a big mistake!” he said.

Sound familiar?

When it comes to employee departures, prevention is definitely better (and cheaper) than cure.  Here are a few simple tips:

  1. Check that you have put people in roles that suit their unique talents and abilities to ensure peak performance and job satisfaction.
  2. Check  that they know what’s expected of them so you can regularly measure and reward performance.
  3. Check that they feel challenged and valued.

With just those three checks in place, I guarantee you will be well on the way to actively managing staff turnover and avoiding ‘the long goodbye’.

BALANCE AT WORK BLOG

Research bosses should know about

According to the latest annual ‘Hunting the (Hidden) Hunters’ report from CareerOne,  longer hours, inadequate resources and a reluctance of organisations to increase salaries are factors driving workers to hand in their resignation.

82% of Australian workers considered changing jobs last year

37% of employees are actively pursuing new roles

The following comment was posted on the Herald Sun website in response to this research.

I hate my job, passionately hate it! Business owners, CEO’s, Managers, Team Leaders take note! There is no longer inspirational leaders or people in control who work hard to make the workplace one to ‘want’ to come to each day.There is noone to look up to, who has passion and drive! I drag myself out of bed to a workplace that is back in the 50’s era. Although I work in marketing, and it is a small business, I am expected to clean! I wipe over the kitchen and lunch room but it is now expected I do more because I am female! I had to fight to be allowed to have a heater on in winter, my boss doesnt like turning the aircon on too much because it costs, any little job that goes above and beyond is never acknowledge, no thankyou whatsoever, my boss whines when we are quiet and whines when we are extremely busy but does not put on extra staff. I have been accused of not showing initiative which was beyond me because my boss would not know half the research I do, or the little things I organise for the company. It is a job that is pure hell. Part time work is hard to come by so although I am looking elsewhere, it is hard! I bet there are many in the same boat!

Uncomfortable?  What if that person was working in your office?

The factors most likely to motivate an employee to change jobs this year are:

  • not being motivated by management (44%)
  • lack of new challenges (40%)
  • waiting too long for a pay rise (39%)
  • an unclear career path (37%)

People changed jobs for:

  • work closer to home
  • a better team
  • higher remuneration and benefits

With unemployment now back down to 5%, it’s essential to be proactive in attracting and retaining quality staff.  The CareerOne research also tells us what’s important to employees in specific industries.  For financial services, the following advantages need to be emphasised in your job advertisements and discussions with staff and job candidates:

  • flexible hours
  • ability to work from home
  • training and development opportunities
  • potential for pay rises

Administration and customer service staff were less motivated by career potential or higher remuneration, instead seeking flexibility, mentoring and paid overtime.

Tip: It’s one thing knowing ‘what’ needs to be done, a quite different thing to know ‘how’ to do it.  If you are motivated to make changes in your business and you’d like help with the ‘how’, please give us a call.

BALANCE AT WORK BLOG

The 3 C’s of performance and rewards

There’s not much time for writing today as I’m busily putting the finishing touches on tomorrow’s webinar.

If you are planning to reward good performance in your team, here are three things to remember:

1.  Always be clear about what you will reward, when and how.  Let your team know what you will be measuring and why.  Rewards are more effective if people know about them in advance.

2.  Stay consistent both in the rewards that you give and the reasons for them.  This means consistency across time and across individuals.  Note:  Being consistent does not mean you have to reward everyone equally.  See point 1.

3.  Be committed to delivering on the rewards you have specified.  If you have any doubt that you will not be able to pay bonuses, for example, then don’t offer them.  It’s very hard to recover from the damage done by a promise that isn’t kept.

That’s it for today.  There will be lots more great information about performance management and rewards in tomorrow’s webinar, so make sure you click here to register

PS. Even if you don’t think you can attend live, it’s worth registering for early access to the recording.

BALANCE AT WORK BLOG

Why rewards (often) don’t work

Many managers try very hard to find new and more effective ways to motivate their staff through rewards. Are you one of them?

Could seeking to motivate people with monetary rewards ultimately be a waste of time, effort and money?

Take a look at this video animation (just 11 minutes long) of a talk given by Daniel Pink and please share your thoughts below.

 

For more on Performance + Rewards, please click here to register for our next webinar on Wednesday 10 November.

BALANCE AT WORK BLOG

The one thing you need to know about performance…

…and retention.

Warning:  What you are about to read is so obvious you’ll wonder why you haven’t already used it in selection and performance management!

Enjoyment Performance Theory states that an individual will perform more effectively in a job if that individual:

1. Enjoys the tasks required by that job;

2. Has interests that relate to the position and

3. Has work environment preferences that correspond with the environment of the workplace.

Assuming a person has the skills and experience necessary for the job, enjoyment of the various aspects of the job is a significant predictor of higher performance.

Because we tend to do the things that bring us pleasure and avoid things we don’t enjoy, we tend to do the things we like more often.  As we do those activities more often, we get better at them and our improved performance adds to our enjoyment of the task.  A virtuous cycle, if you like. 

Conversely, because we will be less inclined to do something we don’t enjoy, we fail to improve in that task and the lower performance reinforces our dislike of the activity – a vicious cycle.

Harrison Assessments’ 20 years of research has proven that employees who enjoy at least 75% or more of their job are three times more likely to succeed than employees who enjoy less than 75% of their job. That makes understanding factors related to work satisfaction vitally important for making the right hiring decisions, motivating employees, and retaining top talent. 

Makes sense, doesn’t it?

So how do you apply the theory to your team? 

Surprisingly, very few behavioural assessments or personality assessments measure work satisfaction, even though it is critically important to do so. As a result, assessments are limited in their ability to determine motivation or forecast whether an individual will prosper and stay with the company.

The Harrison Assessment questionnaire is designed to predict performance, work satisfaction and retention. This is critical when selecting new staff and also enables companies to motivate people and increase their performance by assigning the roles and responsibilities that give them the highest degree of work satisfaction.

To find out more about what we can do for you with Harrison Assessments, visit our website or contact us!

BALANCE AT WORK BLOG

Communication failure

If I had to pick one issue that is the most prevalent in my work with teams, it is – without doubt – communication. Experience with our Team Health Check shows that this is the hardest thing for many team leaders to get right, despite their best intentions.

Here are some of the reasons why communication often misses the mark:

1. Lack of awareness about the impact of our communication style.  Unless you ask them, you are not likely to know how your style affects your team’s motivation and effectiveness.  

Solution:  Consider asking your team for feedback.  An effective way to do this quickly and confidentially is by using the Team Health Check.  Our clients are finding they get some surprising responses when their team ranks statements such as these: 

  •  Everyone’s input is listened to and appreciated by the rest of the team.
  •  We openly and constructively resolve differences and conflicts.
  •  Interactions within the team are respectful, open and honest.

(There are 20 questions in total, covering the full range of teamwork criteria.)

2. We communicate with our team the way we like to be communicated to.  For example, if you appreciate frank and straightforward information from others, you are likely to be direct in the way you talk to your team.  

Solution: Recognise that what works for you will not work for everybody.

3. Not understanding team members’ communication preferences. Closely related to the previous point, there is great value in having an insight into the different communication styles on your team. 

Solution:  Use a tool to diagnose the individual preferences. The Harrison Assessment system measures the following communication traits:  Frank, Diplomatic, Blunt, Evasive, Avoids Communication, Wants Frankness and Tolerates Bluntness..

4. Lacking a sufficient range of communication styles to be able to meet the needs of  team.  When you know what’s missing, it’s easy to fill the gaps with knowledge and practice.

Solution:  Coaching is available to help you use your communication strengths to develop more effective ways to communicate with the full range of people you will encounter in business.  For more information on our coaching systems, please contact us.

The final – and perhaps the most important – point is this: 

Just because you don’t think you have a problem, doesn’t mean there’s not an issue there.  Your business can only benefit if you take the time to find out.

To read more about the Team Health Check, click here.