6 steps to enhance your recruiting strategy
According to recent data from PwC, more and more potential employees are turning down job offers because of bad recruitment experiences. Often, when job candidates have a poor experience while applying for a job, they share the details of their encounter with friends, family and social media. Read this blog post for six steps employers can use to enhance their recruitment strategy.
Employers may be contributing to their organization’s bad reputation without even knowing it during the recruiting process
A strong labor market is presenting employees with more options, allowing them to weigh potential employers against each other, and eliminating the need to accept the first offer they get. Unique and inventive recruiting strategies are vital in attracting the right talent to your organization, but more potential employees are turning down job offers because of bad recruiting experiences, according to data from PwC.
Employers can develop some bad habits when it comes to recruiting, like dragging out the process and even ghosting candidates. When potential employees have a poor experience applying for a job with a company, they are going to share the details of that encounter with friends, family and the world at large thanks to social media.
“Job seekers today expect the hiring process to be streamlined, efficient and customized to their personal preferences, with effortless technology and sincere human interactions,” says Bhushan Sethi, a workforce strategy leader at PwC.
However, very few organizations are providing this experience, according to the PwC survey of 10,000 job seekers. Not only can a bad recruiting experience drive candidates away, it can also create lasting damage to an organization’s reputation as an employer.
“Leaders have an opportunity to gain an edge in the battle for talent by delivering a superior recruiting experience to every candidate, even those who don’t receive an offer,” Sethi says.
But there are ways to make a candidate’s recruiting experience more positive, even if they don’t ultimately get an offer. Here are six steps organizations can take to deliver a “first-rate” recruiting experience to potential candidates.
Find a balance between tech and human interaction
The human interactions candidates experience during the recruitment process makes a stronger impression than any digital experience, the survey shows. “Candidates want positive, direct human interaction throughout the recruiting process, whether that’s in person, over the phone or via email,” Sethi says. “Two-thirds of candidates said personalized initial outreach makes them more likely to apply for a position.”
Technology does have an important role to play in the recruiting process. However, recruiting technology is typically designed with the enterprise, not the candidate, in mind, Sethi says. Employers should look to utilize technology that streamlines routine tasks or makes the hiring process easier for job applicants. About 44% of those surveyed by PwC say they’re open to using automation and technology options for routine touchpoints and to get information during the recruiting process. Another 65% said they would like if an organization had an application dashboard so they could track their progress.
Communicate often and keep the process quick
More than half of job seekers (56%) said they would discourage someone else from applying for a job with a company where they had a bad recruiting experience, according to PwC data. A majority of job seekers (92%) said they’ve experienced poor recruiting practices at some point in their career. Candidates pointed out the two most frustrating behaviors by recruiters: dragging out the process by more than a month and recruiters who withdraw communication with no explanation.
“These practices are rampant: 61% of candidates said they’ve simply stopped hearing from an organization during the hiring process,” Sethi says. “And 67% gave up pursuing a role because the recruiting process took too long.”
Ask for social media details
About 50% of job seekers said they’d be willing to share their social media data with potential employers if it helps to determine a better job and organizational fit. Checking out a potential employee’s social media allows HR to understand more about the candidate. But candidates are only willing to share their social media data if the right privacy measures are in place. Recruiters can gain candidate’s trust by being transparent. About 78% of those surveyed by PwC said they expect the recruiting process to be clear on how personal data is used. About 77% of candidates said they wouldn’t apply for a job if they felt their privacy and information wasn’t protected.
Highlight the rewards potential employees most desire
Upskilling, personal flexibility and inclusion are three key aspects of workplace culture that have become more desirable among candidates than salary, according to PWC. Additionally, candidates are willing to give up 11.7% of their salary for more flexibility and training.
Give candidates a way to experience the company’s culture first hand
Today’s candidates are looking for more than a job, the PwC survey notes. They want an employee experience that provides a sense of purpose and pride.
“Culture is so meaningful that 33% of C-suite-level candidates said they’d take a pay cut to work for a mission-driven company that aligns with their ideals,” Sethi says.
It can be challenging for recruiters to provide an accurate sense of a company’s culture. Recruiters can help candidates experience this firsthand by holding networking and other social events.
Always be mindful of your reputation
When candidates have a bad recruiting experience it does more damage than recruiters realize. “It can cause lasting reputational harm and even hurt your chances of hiring the workers who are hardest to find,” Sethi says.
Almost half of candidates (49%) working in high-demand sectors like tech, banking and energy say they would be more likely to turn down a job due to a bad recruiting experience. Of those surveyed by PwC 71% say working for a company with a good reputation as an employer is more important than working for a well-known customer brand.
“That’s good news for small brands jockeying for talent with big-name competitors,” Sethi says. “You can gain an edge by cultivating and promoting a strong, positive reputation. It’s also a call to action for bigger brands: you can’t rely on name alone to attract talent.”
SOURCE: Schiavo, A. (9 December 2019) "6 steps to enhance your recruiting strategy" (Web Blog Post). Retrieved from 6 steps to enhance your recruiting strategy
How to maximize employee participation in HSA plans
According to the Employee Benefit Research Institute (EBRI), 96 percent of HSA account holders do not invest any portion of their contributions. Health Savings Accounts (HSAs) offer account holders the option to invest and investments are not subject to taxation. Read this blog post to learn more about maximizing employee participation in HSA plans.
High-deductible health plans (HDHPs) not only offer employees the opportunity to save on their premium contributions, they also provide access to what are commonly touted as triple-tax-advantaged health savings accounts (HSAs).
HSA users can put away money tax-free, and account distributions for eligible healthcare costs aren’t subject to federal income tax. Plus, these accounts offer users the option to invest and any investment returns aren’t subject to taxation. Not even the storied 401(k) promises this much bang for the proverbial buck. In fact, HSAs offer the best of pre-tax 401(k) and Roth contributions.
But, no matter how sweet a tax deal this is, for most of the over 25 million account holders, investing takes a back seat to current healthcare needs. According to EBRI, 96% of account holders don’t invest any portion of their balance, which leaves just 4% taking advantage of all three tax-advantaged components of the HSA. Instead, HSA users fall into two distinct categories: spenders and savers, with spenders representing over three-quarters of account holders.
In 2017, the average deductible for employee-only coverage was $2,447 and almost a quarter of employees covered under one of these plans had a deductible of $3,000 or more.
Let’s imagine it’s 2017, and our sample employee — let’s call her Emily — has a $2,500 deductible. Emily funded her HSA to the 2017 maximum of $3,400. If Emily had healthcare costs that totally eroded her deductible and she used her HSA dollars to fund them, at the end of the year Emily would have $900 left in her account ($3,400 maximum minus $2,500 to cover her deductible). That assumes no additional cost-sharing or eligible expenses.
However, Emily is in the minority. Only 13% of employees are fully funding their accounts, rendering an investment threshold potentially out of reach for most people, especially when they are using their HSA dollars for out-of-pocket healthcare costs.
With such a small percentage of HSA owners taking advantage of investment opportunities, finding effective ways to support the spending or saving habits of the majority of users seems to be tantamount. So is helping them address their concerns about deductible risk. As employers help people become smarter consumers, they may be able to build their accounts over time and ultimately pull the investment lever.
So, how can employers support these spenders and savers?
Encourage people to contribute, or to contribute more. EBRI found that only half of account holders put anything in their HSA in 2017, and just under 40% of accounts received no contributions — including employer dollars. Employer contributions can help overcome employees’ reluctance to enroll in an HDHP, but the way they are designed matters. Matching contributions act as a strong incentive for employees to save while also protecting the most vulnerable employees from having to shoulder the entire burden of out-of-pocket healthcare costs.
Another technique to help address employees’ anxiety around a high deductible is to pre-fund out-of-pocket costs by allowing employees to borrow from future contributions. If the employee incurs costs but doesn’t have enough HSA dollars to cover them, they can use future contributions as an advance against current out-of-pocket expenses. The employer provides the funds up front and the employee pays back those funds through payroll deductions. This acts as a safety net for new account holders or those without substantive balances.
Drive people toward the maximum contribution. With fewer than 20% of employees fully funding their HSA, there’s certainly room to move the needle. While additional contributions may not be possible for all employees, reinforcing the tax advantages and the portability of the HSA may help people divert more dollars to insulate themselves against healthcare costs.
Highlight ways to save on healthcare costs. When employees are funding their care before meeting a high deductible, help them spend those HSA dollars wisely. Promote telehealth if you offer it and remind employees about the most appropriate places to get care (for example, urgent care versus the emergency room). Reinforce the preventive aspects of your healthcare plan, including physicals, screenings and routine immunizations. If you have a wellness program that includes bloodwork and biometric testing, make sure you tie this into your healthcare consumerism messaging. There’s generally a lot of care employees can get at no cost, and it helps when you remind them.
Don’t lose contributors to an over-emphasis on investing. The tax advantages of investing in an HSA are undeniable, but most people are just not there yet. When we describe HSAs as a long-term retirement savings vehicle, we may inadvertently be messaging to non-participants that these accounts aren’t for them. Speak to the majority with messaging around funding near-term healthcare costs on a tax-advantaged basis and the flexibility to use HSA dollars for a wide variety of expenses beyond just doctor and pharmacy costs. Investing information should be included, but it shouldn’t be the primary focus.
HSAs are gaining in popularity, and the majority of account holders are using them to self-fund their healthcare, which is a good thing. A small but growing number are taking advantage of their plans’ investment options. Employees eventually may become investors as their accounts grow and they better understand the opportunity to grow their assets and save for the longer term. For now, however, the educational and engagement focus for HSA plan sponsors should primarily be around participation, maximizing contributions and spending HSA dollars wisely.
SOURCE: Cosgray, B. (6 December 2019) "How to maximize employee participation in HSA plans" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/how-to-maximize-employee-participation-in-hsa-plans
Education benefits are a critical offering to retain top talent
The top reason why employees pursue higher education and training is to keep up with or get ahead of any changes in their specific position, according to a recent survey. Read the following blog post for more on why education benefits are critical when it pertains to retaining top talent.
The American workplace is changing rapidly and so are the expectations workers have of their employers. Under pressure to keep pace with technology’s transformation of the labor market, employers are racing to up- and re-skill their workforce. They know that frontline workers, whose tasks are often most susceptible to automation, need training to remain viable and competitive.
According to this year’s Bright Horizons Working Learning Index, which surveyed more than 30,000 working learners, employees are well aware that their workplace is changing. When asked to select their top three reasons for pursuing more education or training, the most prevalent answer was that they wanted to “keep pace with or get ahead of changes in my position.” This beat out all other reasons, including advancement, opportunities at another organization and even earning more money at work.
Generation Z workers now rank education over all other benefits in importance, excluding healthcare. But they tend to differentiate between education and training, ranking education benefits above training and development.
That’s with good reason: a college degree is still the great lever for economic mobility and career advancement among frontline workers, driving higher lifetime earnings that total more than $2 million, on average. But with college costs rising, Gen Z is looking to employers to fill the gap. About four in ten Gen Z employees believe their tuition reimbursement program is the single best benefit offered by their employer. Twice as many say it is among the top three voluntary benefits.
Among the surveyed workers, three-quarters (76%) say a tuition reimbursement program would make them more likely to remain at their organization, and eight in 10 (81%) say it would make them more likely to recommend working there to a friend. Nearly two-thirds (64%) say such benefits make them “happier at work.”
Indeed, employees of all generations rank education benefits far above those offered for wellness and even above highly coveted benefits like life or disability insurance and paid family leave. In this survey, only retirement savings programs and paid sick or vacation time ranked more highly.
Importantly, nearly half (49%) said they would not have pursued education if their employers did not offer tuition assistance. Slightly more (55%) say the time commitment required for a degree or certification under their employer’s tuition assistance program is the biggest challenge they faced — as a result, many see the value of competency-based and self-paced learning options, often delivered online.
Data like this may change the calculus for employers considering investments in not just upskilling but education. While it may seem counterintuitive, employers must offer their frontline workers broad learning opportunities and educational benefits that can help them move beyond their current positions and pursue the next steps of their careers. Companies must have the foresight to invest in their potential.
SOURCE: Donovan, P. (22 November 2019) "Education benefits are a critical offering to retain top talent" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/offering-education-benefits-retains-top-talent
Key factors in choosing your benefits during open enrollment
Employers are now realizing that in order to attract and retain talent, they have to provide the best benefits. But, how do employees select the right benefits out of all the available options? Read the following blog post from Employee Benefit News for a few key factors to consider when choosing your benefits during open enrollment.
Even if you are a veteran in choosing employer-sponsored benefits, the landscape is shifting. Over the past years, we’ve seen changes to mental health counseling stipends, extended maternity/paternity leave and family building. Companies across industries are realizing that in order to attract and retain talent, they need to provide best in class benefits that save employers unforeseen costs in the long run, and shows employees that their employers are invested in their wellbeing — in and out of the office.
With all these available options and only a short window to select what’s right for you, here’s what should you look out for during open enrollment.
Which benefits matter to me?
The beauty of a diverse workforce is that employees may represent various walks of life. However, this means that not all benefits make sense for every person. Perhaps your boss is prioritizing childcare for his toddler while your colleague is looking to refinance student loans. Whatever your life circumstance, ask yourself, “Which benefits are most pertinent to my life and life goals in the coming year?”
For instance, fertility benefits may not be immediately attractive at first glance, even if you’re actively thinking about starting a family. But 1 in 8 couples will be impacted by infertility and treatment without coverage can be wildly expensive. It’s important to make sure you’re thinking critically and getting all the necessary information when browsing for your benefits. Rule of thumb: if this could impact you in the coming year, even if you’re not 100% sure, opt-in for coverage.
What’s actually covered?
During open enrollment, be sure to ask your benefits team about how robust each offering is and what’s included. A particular benefit may look like it has a lot to offer, but after further investigation, you may uncover restrictions, unforeseen out of pocket costs and other obstacles that may make it harder for you to utilize the benefit.
With fertility benefits, many conventional carriers offer coverage with a dollar maximum, meaning you’d max out on coverage before completing a full IVF cycle. Plus, there are additional costs outside of the basic IVF procedure, like diagnostic testing, medications, and genetic testing which may come with a hefty price tag you’d have to pay for. Without adequate coverage, many people have to make cost-based decisions, forgoing the technology they need to reach a successful outcome.
As an alternative, Progyny’s coverage is bundled, meaning your entire treatment event is covered and you do not have to worry about what is or is not included, or fear running out of coverage mid-way through. Many vendors have similar disruptive solutions to ensure they’re not leaving their members high and dry during difficult times.
When sifting through options, be sure you’re asking what’s covered and not covered under your plan. A lot of benefits may seem expansive, but make sure you’re getting the most out of the coverage that’s available to you. Ask: Are the best clinics in your area included in your plan as “in-network”? Do you have to meet medical necessity requirements before being allowed to access your benefits?
Which benefits are supported?
Once you’ve opted in for benefits during open enrollment, how do you access your benefit? How do you move forward with treatment? Does your benefit provide access to the doctors in your area? Since many of these offerings are complex and without proper onboarding, how can you be expected to understand the next steps?
With the growing emphasis on mental health and concierge member experience, companies like Progyny try to eliminate some of the member’s burden and create an easy to use benefit model that provides member support. For example, our dedicated Patient Care Advocates — a concierge-style fertility coach — helps members navigate the clinical and emotional aspects of your fertility treatment, making a difficult process a bit easier.
Another important factor to consider when shopping for benefits is access to care where you live — are the doctors that your insurance covers close by and easy to get to? When choosing your benefits, look out for any information about access to support. The goal of a benefit is to make your life easier, not leave you feeling confused and stressed in times of need.
What do I do if I’m unhappy with the benefits offered during open enrollment?
Often times, employers are unaware of what an employee wants until it’s brought to their attention. If you are unhappy with the benefits offered, raise the issue with your HR team! You are your own best advocate and change begins with you.
Not sure where to start? If you are comfortable, speak with your colleagues. Seek out a company resource group to see if others have similar needs. This way you can help form a plan or a way to approach HR. Once you have an idea of what you need, talk to HR to explain why the proposed benefit would be pertinent to you and your colleagues. Employers understand that the key to keeping good talent is making sure they’re happy.
Open enrollment can be overwhelming but take advantage of the resources you have. Ask questions, do your research, and discuss the options with experts in your office. With an arsenal of helpful information at your disposal, open enrollment should be stress-free and get you excited for all of the incredible employer-sponsored benefits in your future.
SOURCE: Ajmani, K. (25 November 2019) "Key factors in choosing your benefits during open enrollment" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/how-to-choose-benefits-during-open-enrollment
Know your people, know your data: Keys to measuring employee engagement
According to research, over half of employees believe that health insurance is important in terms of their job satisfaction. Read the following blog post for ways employers can measure employee engagement.
Offering a total compensation and benefits package that fits employee needs drives morale, motivation and performance in the workplace.
Simply put, people who are happy and healthy are more productive. When an organization offers benefits that appeal to employees (and workers know how to use these benefits) employers should see an increase in total productivity.
On the other hand, if a company is off the mark with the total compensation package, or simply hasn’t communicated the benefits to people correctly, it will either see unchanged productivity or a decline. Organizations struggling to find improvement in productivity should look at their employee benefits offerings for answers.
Providing effective group health insurance and well-being programs is a good way to reduce the amount of sick leave worker's take. If employees promptly get healthcare when they’re ill, they’re more likely to be healthier overall. If an organization doesn’t offer appropriate health benefits, the result can be presenteeism.
Additionally, the cost of presenteeism multiplies when sick staff are contagious. One sick person refusing to take a day off can snowball into multiple people arriving ill to work on subsequent days. When illnesses reach critical mass and it’s harder for people to recover from things like the flu or a cold, organizations may find themselves short-staffed when employees finally pay to see a doctor.
Job satisfaction and morale are also linked to employee benefits. Research shows more than half of employees believe that health insurance is important in terms of their job satisfaction — even more crucial if staff live in an area where medical services are expensive.
Strategies to measure benefits engagement. HR staff have multiple ways of measuring how certain workplace functions are performing. Here are some effective methods organizations can use to measure benefits engagement.
Staff surveys. Questionnaires that seek to understand what benefits your staff know they have, and how they’ll use them.
Pulse surveys. Asking staff short, frequent questions about a benefits platform.
Focus groups. Gathering cross-functional groups of staff members together to have a facilitated discussion about benefits.
Exit surveys. Include questions about benefits and satisfaction levels during exit surveys, and then investigate what their next employer might be offering to have lured them away.
If organizations are not regularly questioning how well their benefits plan is performing, they may be missing an opportunity to get key insights into how employees feel about their packages.
Offering employee benefits isn’t just to support an organization’s staff, it should also support an organization’s long-term sustainability. Employee engagement is one key measure. The challenge for organizations is ensuring not only that they include benefits that will be relevant to staff, but also that they properly educate them in what those benefits are.
The less staff are educated on what benefits exist and how they can use them, the less likely they are to engage with them. Not having an appropriate communication strategy can often set benefits plan performance behind.
Working with analytics and claims data can indicate when specific benefits aren’t being used. Knowing what causes the lack of engagement requires a bit of discussion and investigation, but finding sustainable solutions is completely dependent on understanding whether the issue is the benefits themselves, or the communication to staff.
SOURCE: Rider, S. (1 November 2019) "Know your people, know your data: Keys to measuring employee engagement" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/using-data-to-measure-employee-engagement
Company Gifts That Workers Hate
Gift cards, water bottles and coffee mugs are just a few examples of workplace gift ideas that employees do not want or make them feel unappreciated. According to a new survey, more than 8 in 10 employees have received a workplace gift that they didn't want. Continue reading this blog post from SHRM to learn more.
Coffee mugs and water bottles emblazoned with the company's logo. Gift cards to stores that employees rarely visit.
These are among the gifts that companies give to workers—and that workers hate, that make them feel unappreciated, and that leave the impression that their employers are thoughtless.
So says a new survey by Snappy, the New York City-based employee engagement company, which found that more than 8 in 10 U.S. employees have received a workplace gift—mostly from managers—that they didn't want.
As the winter holidays approach, and as companies bestow gifts to show they appreciate their employees, the survey of more than 1,000 U.S. workers demonstrates that leaders may want to give more thought to workplace gift-giving.
No Logos, Please
Almost 3 in 4 workers would prefer to get a gift without their company logo on it, according to the survey, which Snappy conducted in September.
"Some employees have reported to me that they don't mind some gifts with logos, but they resent feeling like a 'walking billboard' for the company," said Paul White, who has a Ph.D. in psychology and is co-author of The 5 Languages of Appreciation in the Workplace (Northfield Publishing, 2019). "Others state that when they are given gifts that have the company's logo, the item immediately is disqualified as a gift—because the focus of the item is the company, not the recipient."
White's research into how more than 100,000 employees feel about the workplace found that only 6 percent identified gifts as the primary way they want a company to show appreciation—far below getting words of affirmation (46 percent), quality time with a supervisor or co-workers (26 percent) and getting help from supervisors or colleagues on a project (22 percent).
"Employees are not saying they do not want tangible rewards … for doing good work," White wrote. "But what the data show is that when choosing comparatively between words of affirmation, quality time or an act of service—receiving a gift is far less meaningful than appreciation communicated through these actions. For example, employees often comment, 'If I receive some gift but I never hear any praise, no one stops to see how I'm doing, or I never get any help—the gift feels superficial.' "
Are Companies Catching On?
One would think, given research and books like White's that demonstrate how people feel about workplace gifts, that companies would adjust their gift-giving practices. Often, they don't because no one asks employees what they thought about the present. Workers are in a tight spot: If they complain or don't seem enthused, they may be seen as ungrateful or demanding, White said.
In fact, the Snappy survey found that of those workers who got a gift they didn't like, 9 in 10 pretended they liked the gift anyway.
"The leader needs to be interested in what the meaning or message of the gift is, [but] most often, it is a rather thoughtless process," White said. "In work relationships, it is the thought that counts. For employees who value gifts, either giving everyone the same item or giving them a generic gift with no thought or personal meaning is actually offensive."
Cord Himelstein is vice president of marketing and communications for HALO Recognition, an employee rewards and incentives company based in Long Island City, N.Y. He said he thinks companies are paying attention to their gift-giving practices. He noted recent data from WorldatWork showed that about 44 percent of recognition programs get updated or changed every year.
"If management isn't actively listening and applying feedback in a systematic way, then there's no point in offering gifts at all," he said. "Nailing down the right balance of rewards that employees really love takes time and effort."
Best and Worst Gifts
Respondents said that some of the "worst" gifts employers ever gave them included a pin, a plaque, and a gift card to a store they'd never visited.
In fact, more than 3 in 4 said a gift card is less meaningful than an actual gift, and almost 9 in 10 admitted that they'd lost the gift card or forgotten that it had a balance on it.
"Gift cards feel transactional and impersonal," said Hani Goldstein, co-founder and CEO of Snappy. "Employers fail to realize that gift cards put a price tag on the recipient's value and make them feel like they're worth $25. Our research points to one key insight: The most appreciated gifts aren't impactful because of their actual monetary value. What matters most is what the gifts are and how they are given."
Employers should remember that things like pins and plaques, Himelstein said, "are commemorative add-ons, not whole gifts, and should always be supplemented with more substantial and appropriate rewards."
Employees also described some of the "best" gifts employers gave them, which included an espresso machine, a trip to Paris, an iPad and a television.
White noted that such expensive gifts can be impractical for a company. They may be appropriate in rare situations, White said, such as rewarding a worker who reached an exceptional goal or recognizing someone who's served long and well.
"Generally, meaningful gifts between employees and supervisors are more impactful when they are personal and thoughtful rather than pricey," he said.
Himelstein said more expensive gifts—at least those more expensive than mugs or pins—"aren't only practical, it's a best practice."
"Nobody wants a cheap gift for their hard work, and employees can always tell when the company isn't trying," he said. "Also, don't lose sight of the fact that you don't need to constantly shower employees with expensive gifts to make them feel appreciated."
SOURCE: Wilkie, D. (14 November 2019) "Company Gifts That Workers Hate" (Web Blog Post). Retrieved from https://www.shrm.org/ResourcesAndTools/hr-topics/employee-relations/Pages/gifts-workers-hate-.aspx
A benefits wishlist for millennial employees
Did you know: 63 percent of millennials would struggle to cover an unexpected expense of $500. With millennials becoming the new core of today's workforce, many employers are tailoring their job postings, descriptions and benefits to correspond with the millennial wish list. Read the following article to learn more.
Millennials are the new core workforce. Their concept of work is different than the standards set by previous generations. They bring bold, new approaches of what work should be, how and where it should be performed, and what the rewards for work should be.
While this has made some employers uncomfortable, millennials are not likely to change their ways. Employers must reassess their concepts to bring out the best of the unique millennial personality.
When I look at the U.S. workforce, I see a dramatic shift in the attitudes, personalities and attributes of millennials, which makes up the majority of the workforce. Millennials bring many positive attributes to the table, including a preference for flat management structures, multiple degrees, technological skills, energy and self-confidence. They also have high expectations for themselves, prefer to work in teams, are able to multitask and seek out challenges.
However, millennials have the highest levels of stress and depression of any generation. About 20% of millennial workers have suffered work-related depression. Millennials want their own living space, but they’re less likely to become homeowners because of student loan debt. Only 6% of millennials feel they're making enough to cover basic needs, according to an Economic Innovation Group national survey of millennials. As a result, 63% of millennials would struggle to cover an unexpected $500 expense. This generation wants to live within their means, but they’ve never been taught how — they need and want to be educated on how to achieve financial independence.
Think about your corporate strategy for attracting millennials. Here are just a few of the ways companies are tailoring their job postings, descriptions and benefits to correspond with the millennial wish list.
Working with meaning. Millennials want to have meaning in their work. Past generations may have worked simply because they needed to pay the bills. Millennials want to get paid too, but they also want to know that their employer is doing more than making and selling products or services. They aspire to social causes and want to know why the organization exists and how they can personally participate and contribute in that culture.
Continued personal growth and career advancement. Millennials want to be coached and have work-life balance. They want management feedback, even if it’s negative. Regular pay increases and promotions are important to them too. It shows that you’re invested in their career path and value their contributions.
Flexible hours and the ability to work remotely. They want flexible hours and the option to work from a location of their choice. This flexibility also contributes to their desire for no added workplace stress. Technology has made it possible to connect 24/7 from anywhere on any device. If you have yet to adapt your culture to accept this new norm, you’ll likely be missing out on this generation of candidates.
Technology. Millennials are smart-device people. Who better to move your organization forward than the individuals who grew up knowing how to download and use an app, or create a widget that solves a problem? They think technology-first and is required for any organization looking to remain competitive.
Financial wellness. A robust financial wellness program that includes self-directed education, competitions, games and rewards will pique millennial interest. Products and services like financial coaching, cashflow tracking, early wage access and credit resources that address their financial challenges will keep them engaged. Above all, a financial wellness program must be tailored to each individual employee to achieve maximum participation and behavioral change.
Employers must be vigilant in order to keep the best and brightest talent. They should also be proactive in managing their employees on a personal level, especially millennials. Otherwise, they are likely to be disengaged and move on — and that will cost money.
As managers and leaders of the organization, it is your responsibility to ensure that millennials understand their future in the company and to communicate that they don’t have to go somewhere else to advance. Employers and leaders have a responsibility to provide millennials with a desirable place to land, and a culture that encourages them to thrive. Don’t give millennials reasons to leave your organization. We need to support them, engage them, reward them and give them reasons to stay.
SOURCE: Kilby, D. (6 November 2019) "A benefits wishlist for millennial employees" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/what-employee-benefits-do-millennials-want
7 Tips for Coaching Employees to Improve Performance
How do you align coaching with individual employees’ needs? Employee coaching is central to improving the performance of employees, as well as helping with employee onboarding and retention. Read this blog post for seven tips to effectively coach employees to improve performance.
Managers and leaders are critical to the success of a business, and so are effective coaching skills. Consistent coaching helps with employee onboarding and retention, performance improvement, skill improvement, and knowledge transfer. On top of these benefits, coaching others is an effective method for reinforcing and transferring learning.
While there are many important leadership skills and competencies, coaching is central to improving the performance of entire teams.
A coaching leadership style is proving to be much more effective with today’s employees than the more authoritarian styles that many business leaders operate under. Leaders who coach employees instead of commanding them are able to build a much more talented and agile workforce, which leads to a healthy and growing business.
Think back to your peewee soccer days (or any team sport, really). I bet you can think of three kinds of teams:
- The directionless group of kids running around aimlessly, taking frequent breaks for cookies and juice.
- The organized group who focused, but still had fun.
- The hyper-focused, aggressive group.
And how do you think these teams got the way they did? The coach, of course! The first group had a coddling coach, the second had a balanced coach, and the third had an intense coach living out his failed soccer dreams vicariously through a group of 6-year-olds.
Which seems like the healthiest group? Hopefully, you said the second one. But how do you coach in such a way that produces a healthy team?
Good coaching can be easy to spot, but hard to emulate.
First, you need to meet your team members where they’re at. Coaching isn’t a one-size-fits-all endeavor. Some people will need a lot more handholding than others, depending on where they’re at in their job role and overall career.
So before we get to our seven coaching tips, here’s a quick look at how you can align coaching conversations with individual employees’ needs.
How to Coach Employees at Different Levels
The best coaches don’t use the same coaching style for each individual team member. They’re flexible enough to adapt to the situation at hand.
There are five levels of employee performance, and you’ll have to adapt your style for each one to coach them effectively:
- Novices
- Doers
- Performers
- Masters
- Experts
Level 1: Novice
Novices are in the “telling” stage of learning. They need to receive a lot of instruction and constructive correction. If you’re confident in the people you’ve hired, then they probably won’t need to stay in this stage very long. Also, watch out for your own micromanaging tendencies – you don’t want to hold an employee back from moving to the next level!
Level 2: Doer
Once Novices begin to understand the task and start to perform, they transition to the Doer stage. They haven’t yet mastered the job, so there’s still a heavy amount of “tell” coaching going on. But they’re doing some productive work and contributing to the team. So, there are now opportunities to encourage new behaviors, and praise Doers for good results.
Level 3: Performer
As Doers start accomplishing a task to standards, they become Performers. Now they’re doing real work and carrying their full share of the load. And they’re doing the task the way it should be done. With Performers, there’s much less “tell” coaching, if any at all. But there’s still feedback, mostly focused on recognizing good results and improving the results that don’t meet expectations.
Level 4: Master
Some Performers may continue to grow on the job and reach the Master stage. At this point, they can not only accomplish tasks to standards, they can do so efficiently and effectively. Plus, they have a deep enough understanding of what should be done that they can teach and coach others on the task. And they know enough to actually help improve standard processes.
Level 5: Expert
Experts are valuable members of the team and may become front-line team leads. Experts don’t need a lot of direction – they’re highly self-sufficient. If anything, they can provide direction to others. Experts don’t necessarily require a lot of recognition and praise to stay motivated, but that doesn’t mean they don’t want any.
7 Coaching Tips for Managers and Leaders
So, now that we’ve gone over the different performance levels your employees can be at, let’s get to what you came for – the tips!
These coaching tips will work with any of those five levels and can help you have more mutually beneficial coaching conversations that will improve overall team performance!
1. Ask guiding questions
Open-ended, guiding questions lead to more detailed and thoughtful answers, which lead to more productive coaching conversations. As a manager or leader, it is critical that you develop strong relationships with your employees. This will help you determine if your employees are curious, have the capacity to perform and improve, and what kind of attitude they have towards their work.
This is where communication skills and emotional intelligence really come into play. Managers must guide conversations both by asking questions and listening, not by giving directives. Employees learn and grow the most when they uncover the answers themselves.
2. Recognize what’s going well
Coaching well requires a balance of criticism and praise. If your coaching conversations are completely focused on what’s not working and what the employee has to do to change, that’s not motivating, it’s demoralizing.
Your recognition of the things your employee is doing well can be a springboard into how they can build from that to improve. We’re not talking about the compliment sandwich here, though, because that coaching technique often devolves into shallow praise that comes off as insincere.
Giving compliments that you don’t actually mean can have a worse effect than not giving any at all, so take the time to think about specific things that are going well, and let your employees know that you see and appreciate them!
Another aspect of this is how the employee likes to be recognized. This is a good question to ask them from the start of your relationship – does frequent recognition help them stay motivated, or is every once in awhile sufficient? Do they prefer recognition to be given publicly or privately? The last thing you want to do is embarrass someone when you’re trying to be a good coach!
3. Listen and empower
Coaching requires both encouragement and empowerment. As a manager and a leader, your job is to build one-on-one relationships with employees that result in improved performance.
Your employees are likely to have a lot of input, questions, and feedback. It’s important for them to know you care enough to listen to what they have to say, so encourage them to share their opinions.
Some employees will have no problem speaking their mind, while others will need a LOT of encouragement before they share an opinion with you openly. Once they do open up, be sure to respect those opinions by discussing them, rather than dismissing them.
4. Understand their perspective
When you’re coaching employees to improve performance and engagement, approaching things from their perspective, rather than your own, will help enormously with seeing the changes and results you want.
Everyone has different motivations, preferences, and personalities, so if you ask questions to help you understand where their “why” comes from and what their preferred “how” looks like, then you can tailor your coaching conversations to align the way they work best with the improvements you’re both aiming for.
For example, maybe you recently moved from an office plan that had lots of individual offices to a much more open-plan, and one of the reps on your sales team has shown a drastic decrease in successful calls. If you start asking questions and find out that this is someone who is excellent in one-on-one conversations, but rarely speaks up in a group setting, then you can see how they’d feel like everyone is listening in on their call, making them less confident than when they had their own space.
With that perspective in mind, you can work with them more effectively on how to get their numbers back up.
5. Talk about next steps
Coaching conversations are meant to yield changes and results, so be sure to clearly define and outline what needs to happen next. This will ensure you and your employees are on the same page with expectations, and provide them with a clear understanding of the practical steps they can take to make changes and improve.
Also, these next steps should be mutually agreed upon – talk about what is reasonable to expect given their workload and the complexity of the changes being made.
6. Coach in the moment
If an employee comes to you with a question about a process or protocol, use this opportunity to teach them something new. If you’re not able to stop what you’re doing right away, schedule time with them as soon as possible to go over it.
Better yet, keep a weekly one-on-one meeting scheduled with each employee so you can go over questions and issues regularly, while maintaining productivity. Coaching employees with a goal of improving performance means making them a priority each week!
7. Commit to continuous learning
Make a commitment to improving your own skills and competencies. If you’re not continuously learning, why should your employees? Lead by example and your team will follow.
Show that you are interested in their success (why wouldn’t you be?). Ask questions about where they see their career going, or how they see their role evolving in the company. Even if they don’t have a plan laid out yet, these questions will make them think about their career and what they want to accomplish within the organization.
Show your employees that you don’t just want them to do better so you look better, but that you’re actively interested in their career, accomplishments, and professional success.
Emotional intelligence (EQ) is a critical aspect of coaching employees in a way that builds relationships, boosts engagement, and improves performance. Managers and leaders can see greatly improved coaching skills by taking steps to improve their EQ – they go hand in hand!
SOURCE: Brubaker, K. (24 September 2019) "7 Tips for Coaching Employees to Improve Performance" (Web Blog Post). Retrieved from https://www.humanresourcestoday.com/?open-article-id=11617247&article-title=7-tips-for-coaching-employees-to-improve-performance
Strategies for communicating with all five generations in the workforce
Did you know: Thirty-eight percent of Americans work for a boss who is younger than they are. According to the Labor Department and U.S. Census Bureau data, there are more employees over the age of 85 working than ever before. Read this article for strategies for communicating with all five generations in today's workforce.
The age gap in today’s workforce is getting increasingly wide. Just look at the Democratic primary for the nation’s highest office.
With Pete Buttigieg, 37, and Sen. Bernie Sanders, 78, running for president, the age range of the job applicants for the biggest job in the U.S. now spans four decades. There are also more workers over 85 working than ever before, according to Labor Department and U.S. Census Bureau data.
Here’s another fact: Today 38% of Americans work for a boss who is younger than they are, said Lindsey Pollak, author of “Remix: How to Lead and Succeed in the Multigenerational Workplace,” at the Atlantic’s Aging Up conference on Wednesday.
“This is the first time in our country's history that we have five distinct generations in the workplace,” said Pollak, who has spent more than 10 years researching and studying millennials. “They are the largest generation in the workplace. You've heard a lot from millennials today, but all of the rest of us are here too.”
“To succeed in this environment, however you approach it, you have to think about all of those generations,” she said.
How can employers win the war on talent with such a diverse age range in the modern workforce? Pollak uses the example of a music remix to frame various engagement strategies — an idea she got based on her interview of a DJ. For example, playing a remix of a classic song at a party could entice both the younger and older generations to get on the dance floor, she said.
“[The DJ] said the trick is to play a remix because the older people at the party recognize the classic and say I know that song. And they come and dance,” Pollak said. “The younger people recognize the remix… and they come and dance. So the solution to a five-generation workplace is not either-or. We did it the millennial way or we do it the boomer way. It's always about, how can we bring everybody together?“
Pollak offered three examples of how employers can appeal to multiple generations. The first centers on recruitment. Employers should recruit from across generations. One example was a solution by a pool and beach club in Galveston, Texas, which began recruiting older workers after they experienced a downturn in teenage applicants, she said.
“[The beach club] looked around and said, who really comes and swims here every day? It's the people over 50 who want a low-impact exercise,” she said. “And so they started putting up posters saying, do you want to turn your passion into a career?”
The idea worked. Lifeguard staff became people over 55 including one 83-year-old lifeguard, Pollak said.
A second strategy involves communication, she said. Asking employees about their preferred communication style is one key way to ease multigenerational differences.
“The simple [strategy] here is to not look for the one way that everybody wants to communicate. There isn't one. It depends on your personality. It depends on the work that you do. It depends on your personal preferences,” she said.
The solution is to simply get in the habit of asking everyone at work how they prefer to communicate. Asking employees their communication style of preference — whether that be over text, a phone call or social media — can help improve communication.
Employers should look for mentoring opportunities, along with reverse mentoring experiences, where younger workers can help guide older workers on new skills, she said.
“Mentoring is an example of a classic practice that should never go out of style. There is nothing old fashioned or outdated about mentoring,” she said.
Mentoring also goes in both directions. Junior staff may be more proficient using various apps, for instance, and be good candidates to train other colleagues. To have a successful multi-generational workforce, employers should consider input from employees in a variety of age groups.
“Think of yourself as having a multigenerational board of advisers,” Pollak said. “What if you had a person from each generation who was advising you on how to look at the world and how to think about your job and your career?”
SOURCE: Siew, W. (31 October 2019) "Strategies for communicating with all five generations in the workforce" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/strategies-for-communicating-with-all-five-generations-in-the-workforce
Consider these 4 strategies to boost employee engagement
One way HR departments can boost employee engagement is by developing a holistic employee benefits package. Making sure your benefits plan suits a diverse multi-generational staff is essential to keeping employees engaged. Read this blog post for four strategies to help boost employee engagement.
The foundation of any high-performing culture is always a strategic compensation and benefits package. Employee engagement at any company requires the involvement of the HR department — and one way HR teams can boost engagement is by developing a holistic benefits package.
Creating a benefits plan that suits a diverse multi-generational staff is key to keeping staff engaged at every age and in every department. What were once non-traditional benefits are now becoming mainstream. For example, offering student loan repayment plans instead of 401(k) incentives to motivate younger staff, or voluntary benefit choices for employees with specific health issues.
See Also: 5 reasons employers should offer student loan repayment benefits
Even the way an office is ergonomically designed can benefit employees. Adding a walking treadmill or offering a standing desk option helps foster productive work, which directly leads to greater employee satisfaction.
This is a complex equation, and getting it right is challenging. We have hard, candid conversations with employers surrounding what enjoyable, relevant work means. From there, we can establish the purpose behind engagement, creating goals and strategies that offer recognition, growth and the opportunity to voice ideas.
Employees want holistic support for their overall health and wellbeing. Employers are expanding their view of employee benefits to include many more aspects of health and wellbeing — from work environment, convenience services and onsite facilities, to attendance and leave policies, flexible work arrangements and organizational discounts.
See Also: ‘Lifestyle’ choice: An emerging benefit could attract and retain employees
What do employers gain from these benefits? A healthy, adaptable and engaged workforce prepared for the future of work and ready to drive business success.
What we know works
The key to engaging employees with benefits is to apply a strategic design thinking methodology, a planning method that starts with an understanding of an organization’s specific needs.
One size fits one, not all. In the past, efforts were made to make one program work for everyone, but every staff member in the workforce now expects answers for their individual needs, concerns and health risks. Offering flexible benefits or voluntary coverage is a powerful tool — and can help employers gain a productivity boost with a healthier, more engaged workforce.
Align benefits with the whole person. Benefits should align with all aspects of employees’ lives in order to truly support health, wellbeing and work-life balance. This includes the social systems they are part of, their passions, their work habits and personal life events. Nutrition advice, health literacy training and support for personal interests are all possibilities for boosting engagement, physical and emotional health and wellbeing.
See Also: Do I Still Need Life Insurance Once I Retire? Your Questions Answered
Look at the data. Organizations have access to more health data than ever before — and technology makes it easier to analyze — but few employers are fully leveraging this information to design benefits that engage their employees. By analyzing and correlating demographic, health and employee-provided data from varied sources employers can identify which benefit programs workers truly value — and which deliver value.
Use both new and traditional channels to communicate. Organizations must actively market benefits to employees using engaging, relevant and timely communications. Companies can also communicate through technology.
When staff have access to benefits that best support their individual health and wellbeing, organizations will benefit.
SOURCE: Rider, S. (30 October 2019) "Consider these 4 strategies to boost employee engagement" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/4-strategies-to-boost-employee-engagement-with-benefits