Top 4 HR trends to watch this year
HR departments are now looking to implement innovative strategies to better engage employees and maximize productivity. Continue reading this blog post for the top HR trends of 2019.
HR professionals can no longer rest on their laurels. They are now looking to implement innovative strategies to better engage employees, improve the company’s brand both internally and externally, maximize productivity and increase the organization’s profitability.
So how can HR professionals go about making this happen? The success of HR will largely be based on staying nimble, evolving their organization’s policies and leveraging technological advances to ultimately reshape their workplace practices.
With that in mind, here are the top HR trends that will take center stage in 2019.
The gig economy and the importance of flexibility. The gig economy, which is comprised of individuals with short-term or temporary engagements with a company, is substantially important to employers. Here, workers are seeking increased flexibility and control over their work environments. Since many questions remain unanswered regarding worker classification issues and the application of existing laws in the gig economy, look for the Department of Labor to issue an opinion letter or guidance in 2019 detailing how a company may compliantly work within the gig economy and not run afoul of existing independent contractors.
Flexibility also is important for all employees — not just for the gig economy. While telecommuting and remote positions are not new, they are being emphasized again to better engage employees and increase retention metrics.
The tech effect on future of HR. The strategic and consistent use of workforce data analytics to predict and improve a company’s performance has exploded over the last several years, with additional momentum expected in 2019. While most HR professionals rely on metrics for basic recruiting and turnover rates, more in-depth analytics and trend spotting has become the norm.
Once trends are identified in, for example, turnover rates, an HR professional should have the tools to dive into the data and analyze root causes, such as the need for manager training, review of compensation strategies or a change in the company’s culture. Using predictive analytics in the HR space is helping companies make better informed, dynamic and wiser decisions based on historical data, as well as placing HR on the level of other data-driven company departments, such as finance and marketing.
The collection of this enormous amount of data also poses challenges and potential risks to companies, including negative perceptions among employees about how their data is being used, employee privacy laws and potential security breaches. Strong and comprehensive security policies, protocols and controls are necessary to ensure employers are keeping their employees’ data safe. In 2019, a steady flow of communications to employees regarding advanced security and usage policies is key to prevent data misuse or misunderstanding regarding how information is collected and used.
Artificial intelligence also will continue to be a significant focus driving improvement in the HR arena. Determining which data to collect, analyze and protect will provide opportunities for AI to assume a larger role in HR. Also, in some large organizations, AI already is being used for more than just automating repetitive HR tasks, such as onboarding new employees. The future of AI for most companies will include creating more personalized employee experiences as well as supporting critical decisions. From analyzing performance data to eliminating biases when screening candidates, AI will continue to be a pivotal HR tool.
Strategies for successful recruitment. Running an effective talent pipeline should be the objective of all hiring endeavors. Pipelining is consistently gaining traction as a recruitment tool for new employees. The concept employs marketing concepts to ensure that companies have a diverse group of strong recruits waiting to be hired. Pipelining reduces time to hire and leads to better quality candidates.
Health, wellness and adequate employee training. Another area of importance is multi-faceted wellness programs, which focus on an employee’s total well-being, from nutrition to financial wellness. These programs often include a comprehensive employee assistance program, training and activities during worktime. The training can focus on anything from physical health to development of employees’ knowledge base and technology-focused education. A greater emphasis also is being placed on workplace communication coaching, such as collaboration and negotiation, which are critical to success in the workplace.
Continued training and heightened prevention of sexual harassment and discrimination will be another trend this year. Organizations big and small must ensure that compliant policies are in place and employees are trained on the policies. Several states including California, New York, Connecticut and Maine already mandate that private employers must provide harassment training to workers, and the number of states requiring this training is expected to increase in the coming years.
SOURCE: Seltzer, M. (29 January 2019) "Top 4 HR trends to watch this year" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/top-4-hr-trends-to-watch-this-year?feed=00000152-a2fb-d118-ab57-b3ff6e310000
New analytics tool helps employers dig deep into turnover trends
A new analytics tool aims to help employers troubleshoot what might be causing issues with your hiring and talent retention. Continue reading this blog post to learn more.
One HR software provider is aiming to help employers better understand why workers fly the coop.
Namely has added a machine learning and data analytics product to its suite of offerings for HR departments, the company said Wednesday. Its tool, dubbed Benchmarking Package, allows HR teams at midsize employers to take a deeper dive into what might be causing issues with a company’s hiring and talent retention.
The machine learning technology distills company turnover data and compares it to information from similar employers in the system, says Eric Knudsen, manager of people analytics at Namely. The comparison data is taken from the more than 1,000 employers and 175,000 employees using Namely’s platform.
“Midsize companies who have historically lacked the skills to uncover these insights are getting a new view on the workplace that they’re building,” he says.
The turnover data is anonymous.
Reviewing termination data can give employers insight into the types of employees who are leaving and potentially lead to broader insights on workplace diversity. It also can help employers better understand how they stack up against the competition and whether the company has a healthy turnover rate, Namely says.
Lorna Hagen, chief people officer at Namely, says information like this can help employers get a sense of issues that may arise in the future.
“If I’m seeing pockets of people come from a certain area of work background with higher levels of attrition, what does that mean to my recruiting strategy; what does that mean to my product strategy? It impacts how you think about your company’s future,” she says.
HR departments are placing a higher value on data analytics, and HCM software developers are taking note. For example, Paychex recently added a data analytics feature to Paychex Flex, its HCM and payroll administration platform. The feature also provides users with data on hiring and turnover trends, and companies can anonymously compare data with similar employers.
During beta testing of Namely’s benchmarking product, Knudsen says the company was able to identify certain trends by looking at employer data. In particular, he says, Namely found a notable uptick in job abandonment, or ghosting. The rates of abandonment were higher for companies in the retail and real estate industries, he says, and lower for those in the non-profit sector. The company also found that managers with eight or more direct reports had higher rates of turnover.
Hagen says that employers who look at granular data are better able to understand why workers are leaving, which can help them take steps to reduce turnover immediately.
“It’s a much more interesting conversation, quantifying what is happening with your people,” she says. “The rolling 12 month turnover rate is an interesting metric but it’s not actionable. The ability to look by level or by department — those are ways to start thinking about action.”
Namely says the benchmarking package is available to all current clients, including identity access management provider OneLogin, retailer Life is Good, financial services company The Motley Fool and recruiter software company JazzHR. The price of the product varies based on company size, but typically varies per employee per month.
SOURCE: Hroncich, C. (16 January 2019) "New analytics tool helps employers dig deep into turnover trends" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/new-analytics-tool-helps-employers-dig-deep-into-turnover-trends?feed=00000152-a2fb-d118-ab57-b3ff6e310000
Why employers should take offboarding more seriously
According to Glassdoor, 79 percent of job seekers use employer review sites during their job search. These sites provide a public stage for employees to rate and review their employers. Continue reading to learn more.
When it comes to layoffs in today’s online world, companies must focus on providing the best experience possible for departing employees, not only because it’s the right way to treat these individuals, but also because it can have a direct effect on the company’s public reputation.
Websites like Glassdoor, Fairy God Boss and Indeed provide a public stage for employees to rate and review their current and former employers. A whopping 79% of job seekers use sites like these during their job search, according to a recent Glassdoor study. Reviews can come in the form of happy employees who cheerlead and promote their employer, as well as disgruntled employees who take the opportunity to air out their employer’s dirty laundry.
In an economy with nearly full employment, where disgruntled employees can and do turn to public online review sites where prospective employees are sure to visit before an interview, organizations cannot afford to take their separation and off-boarding processes lightly.
Reviews by exiting employees have the potential to be very damaging to an employer’s reputation and deter prospective employees from even applying for potential jobs. This kind of transparency also offers a lot of benefit to job seekers; prospective employees can get a better idea of what it would be like to work for a particular company and have greater ability to select a company whose culture and values match their own. In fact, Glassdoor’s study found that 69% of job seekers would not take a job with a company that has a bad reputation – even if unemployed.
One theme that repeatedly appears in negative reviews centers around the topic of layoffs, including write-ups of various HR blunders made throughout the process, inadequate communication, and a lack of empathy and respect toward the departing employees.
While much consideration is given to the onboarding and retention phases of the relationship between employee and employer, the separation phase is often given far less attention. Whether due to a layoff, reduction in force, performance termination, or some other event, managing employee separations can be challenging and can easily turn for the worse, leaving the employee with a negative perception of the company – and an axe to grind on social media.
To address the organizational need for reputation management during a reorganization, many companies work with a third-party specialist to guide them through the necessary steps to maintain employee good-will and satisfaction. A consultative partner can offer added benefit by bringing a fresh perspective and specialized experience to a delicate situation.
For companies committed to attracting new talent, maintaining a strong online reputation should be a priority. Whether you choose to work with a partner-firm or not, ensuring that offboarding is carefully planned and managed will help your organization be more prepared and better equipped to manage a layoff action skillfully, in a way that leaves people feeling heard, cared for and appreciated.
SOURCE: Mellis, L. (21 January 2019) "Why employers should take offboarding more seriously" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/why-employers-should-take-offboarding-more-seriously?feed=00000152-a2fb-d118-ab57-b3ff6e310000
Analytics are key to wellness success. Here’s why
How can benefits managers utilize analytics to maximize their companies’ investments? Continue reading to learn how analytics can help employers optimize their health, wellness and other benefits programs.
What do benefits managers have in common with Walmart? Both have the power to leverage data to create a sustainable competitive advantage.
Like other leading retailers, Walmart mines vast quantities of data and applies predictive analytics to fuel solutions that improve store checkout processes, maximize inventory turnover and optimize product placement. Data analytics also helps the company identify shoppers’ preferences and personalize their shopping experiences. New parents, as identified by prior purchases, might receive digital coupons for infant products, for instance.
Walmart’s data intelligence gives the international retailer the ability to act upon insights quickly. One Halloween, for example, a novelty cookie generated high sales across the United States, but no sales at all in two U.S. stores. The company’s data analytics swiftly ascertained that the cookies were never put on the shelves at those stores. The problem was resolved immediately through high-visibility product placement.
Employee benefits managers have similar opportunities to maximize their companies’ investments. The effective use of disparate data can help employers optimize their health, wellness and other benefits programs, and pinpoint the true value of their total rewards.
A data-driven approach to benefits analytics
Three out of five U.S. employers use health screenings and risk assessments to help employees detect conditions earlier, when treatment might be more effective and costs lower. However, the majority of employers do not measure the impact of these programs.
Those that do assess a program’s impact typically compare the dollars spent on it with the medical claims saved. Forward-thinking benefits managers, however, are examining the total value of investment (VOI) instead. This innovative approach analyzes not only the effect of a wellness initiative on medical costs but also its influence on productivity, absenteeism, disability costs and other factors.
By aggregating and analyzing different types of data — such as claims and non-claims data — benefits managers can determine crucial correlations between preventive screenings, health outcomes and healthcare costs. Thus, they can develop more targeted benefits packages that reduce costs while improving overall employee health and productivity.
Case Study: Implementation of predictive analytics in preventative screenings
One recent initiative undertaken by a state employee health plan demonstrates the power of data analytics to reveal the VOI of preventive cancer screenings.
The state provides medical benefits to around 205,000 employees and dependents. The agency that administers the benefits program wanted to know whether preventive cancer screenings improved health outcomes, and whether the program was cost effective. Analyzing screening and claims data showed that 6% to 8% of those who underwent screenings for breast, colorectal or cervical cancer received a diagnosis of cancer or a related condition. The follow-up and all-important question was: did those members experience different outcomes than members whose cancers were not detected through screenings?
The results indicated a high VOI for members’ preventive cancer screenings:
- The majority of new cases of breast, colorectal and cervical cancer were detected through preventive screenings.
- Among members who received preventive screenings, 5% to 11% underwent treatments because of screening results — and not just for cancer. Treatments included removal of benign tumors or polyps.
- Those diagnosed with breast, colorectal or cervical cancer through the screenings experienced less invasive treatments and had fewer complications than those diagnosed through other means.
- New cases of breast and cervical cancer diagnosed through the preventive screenings had lower costs, on average, than cases detected through other means.
Positive action through data
This cancer screening example illustrates how data analysis can empower benefits managers to improve employees’ health outcomes while reducing costs. Analytics can help employers invest in more effective care management resources, as well as design benefits packages that provide positive VOI in wellness, screening and preventive care.
With the cost of health benefits continuing to rise, it’s critical to leverage data to determine the total value of wellness investments. Just as retailers use data analytics to improve the retail experience and increase profits, benefits managers should use data analytics to guide the design and evaluation of benefits and other rewards.
SOURCE: Kramer, M. (21 January 2019) "Analytics are key to wellness success. Here’s why" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/analytics-are-key-to-wellness-success-heres-why
Artificial intelligence enthusiasm outpacing adoption
A new survey by the RELX Group reports that adoption of artificial intelligence and machine learning is lagging among key decision makers. Read this blog post from Employee Benefit News to learn more.
Artificial intelligence and machine learning have become essential for organizations to stay competitive. But adoption is lagging even among key decision-makers championing change.
That is the finding of a new survey by the RELX Group, a global provider of information and analytics. The company surveyed 1,000 U.S.-based senior executives across government, healthcare, insurance, legal, science/medical and banking in September 2018, and found that 88% agree that AI and machine learning will help their businesses be more competitive.
While the value of the technologies is clear to executives, only 56% of organizations use machine learning or AI. In addition, only 18% of those surveyed plan to increase investment in these technologies.
“Organizations [that] can successfully use emerging technologies such as AI and machine learning to provide their customers with better products and advanced analytics can emerge as the leaders of the future,” said Kumsal Bayazit, chairman of RELX Group’s Technology Forum.
“While awareness of these technologies and their benefits is higher than ever before, endorsement from key decision makers has not been enough to spark matching levels of adoption,” Bayazit said.
The study showed that AI and machine learning are making their mark, with 69% of those surveyed saying the technologies have had a positive impact on their industry. Machine learning and AI are helping solve challenges by automating decision processes (cited by 40%); improving customer retention (36 percent); and detecting fraud, waste and abuse (33%).
SOURCE: Violino, B. (2 January 2019) "Artificial intelligence enthusiasm outpacing adoption" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/artificial-intelligence-enthusiasm-outpacing-adoption?feed=00000152-a2fb-d118-ab57-b3ff6e310000
E-Verify Is Down. What Do Employers Do Now?
Are you questioning what you should do now that E-Verify, the federal government's electronic employment verification system, has expired? Read this blog post from SHRM to learn more.
What are employers supposed to do now that E-Verify—the federal government's electronic employment verification system—has expired?
Funding and congressional authorization for the program ran out Dec. 22, 2018, as the government went into a partial shutdown after Congress and the White House could not agree on how to fund some agencies, including the U.S. Department of Homeland Security (DHS), which administers the system, for fiscal year 2019.
E-Verify compares information from an employee's Form I-9 to DHS and Social Security Administration (SSA) records to confirm employment eligibility. Employers enrolled in the program are required to use the system to run checks on new workers within three days of hiring them.
During the government shutdown, employers will not be able to enroll in E-Verify, initiate queries, access cases or resolve tentative non-confirmations (TNCs) with affected workers.
All employers remain subject to Form I-9 obligations, however. "Remember that the government shutdown has nothing to do with an employer's responsibilities to complete the Form I-9 [in a timely manner]," said Dawn Lurie, senior counsel in the Washington, D.C., office of Seyfarth Shaw. "Specifically, employees are required to complete Section 1 of the I-9 on or before the first day of employment, and employers must complete Section 2 of the I-9 no later than the third business day after an employee begins work for pay."
No Cause for Alarm
Lurie advised employers not to panic while E-Verify is down. "Employers will not be penalized as a result of the E-Verify operations shutdown," she said. "Employers will not be penalized for any delays in creating E-Verify cases. However, employers are reminded that they must continue to complete I-9s in compliance with the law, and when E-Verify becomes available, create cases in the system."
To minimize the burden on both employers and employees, DHS announced that:
- The three-day rule for creating E-Verify cases is suspended for cases affected by the unavailability of the service. "Normally, the employer enters information from the I-9 into E-Verify within three days of hire, but that won't be possible while the system is unavailable," said Montserrat Miller, a partner in the Atlanta office of Arnall Golden Gregory. "DHS will provide a window of time to submit those held cases once service resumes."
- The time period during which employees may resolve TNCs will be extended. The number of days E-Verify is unavailable will not count toward the days the employee has to begin the process of resolving a TNC. "Employers can't take any adverse action against a worker with a pending TNC regardless, shutdown or not," Miller said. Currently, an employee who chooses to contest a TNC must visit an SSA field office or call DHS within eight federal government working days to begin resolving it. This period will have to be extended because of the shutdown, she added.
- Additional guidance regarding the three-day rule and time period to resolve TNC deadlines will be provided once operations resume.
Amy Peck, an immigration attorney with Jackson Lewis in Omaha, Neb., advised employers to keep track of all new hires with completed I-9s for whom there are no E-Verify queries due to the shutdown. She also recommended attaching a memo in a master E-Verify file tracking the days that the program was unavailable. "I've seen the discrepancy come up years later during an audit," she said.
"Once the system is back up, work with counsel on how much time employees have to resolve their TNCs," Peck said. "Someone receiving a TNC the day before the shutdown is a different case than somebody who had 10 days to resolve their TNC when the shutdown occurred. Those circumstances should be considered on a case-by-case basis."
Federal contractors with a federal acquisition regulation E-Verify clause should contact their government contracting officers to extend deadlines. "Federal contractors have a particular concern because nobody is supposed to be working who has not been verified through the system," Peck said. "People can be hired, but whether they are allowed to work on the contract before being run through E-Verify is a critical consideration that should be discussed with counsel."
Prepare for the Resumption of Service
Miller said employers should monitor the shutdown. "When it is over, log in to the system and see what instructions there are for creating and submitting queries," she advised. "There is an obligation to create those queries if you are enrolled in the program, even if enrolled voluntarily."
The backlog created as a result of the shutdown might have a significant impact on employers that process many E-Verify cases and specifically on the HR staff and other team members in charge of the process.
"Not all employers will be able to push all their cases through at once when the shutdown ends," Miller said. "If everyone did that, the system would crash. DHS will provide instructions on how to submit queries. Employers will be asked why the query is being submitted after the required three days. In the past, 'Government Shutdown' was one of the options in the drop-down menu."
Peck reminded employers that the loss of E-Verify does not mean there is a prohibition against hiring. "Companies should continue to hire as they need," she said.
SOURCE: Maurer, R. (3 January 2019) "E-Verify Is Down. What Do Employers Do Now?" (Web Blog Post). Retrieved from https://www.shrm.org/ResourcesAndTools/hr-topics/talent-acquisition/Pages/EVerify-Outage-What-Do-Employers-HR-Do.aspx
Call today, work tomorrow: The future of hiring?
A recent article from the Wall Street Journal states that more and more employees are being hired without a formal face-to-face interview. Continue reading to learn more about the future of hiring.
You just called a prospective candidate with a job offer, and they accepted. Pretty standard procedure — except you won’t meet the new hire until their first day of work.
In a hot job market, more workers are being hired without ever doing a formal face-to-face interview, according to a recent article in the Wall Street Journal. Hiring agencies and HR professionals are hearing more and more about hiring sight unseen, and the reviews are mixed. Agencies say it’s a fast and more efficient way to hire, while some HR professionals argue there’s no substitute for human interaction.
“We basically advertised jobs as call today, work tomorrow,” says Tim Gates, senior regional vice president of Adecco Staffing, which recently filled 15 openings without a formal in-person interview. “It makes it convenient for everybody involved.”
Adecco Staffing uses a digital hiring platform to prescreen candidates before setting up phone interviews. Applicants who ace the 20-minute phone conversation will likely be placed at a job site contracting Adecco. Gates says the practice gives his staffing agency a competitive edge by hiring people before they accept another position. He also believes this fast, straightforward approach is more attractive to job seekers seeking immediate employment.
Adecco hires sight unseen for entry level, manufacturing and specialized positions — like graphic design. They’re not alone. Susan Trettner, founder and director of direct hire placement firm Talent Direct 360, works with industries across the board but often hires workers for engineering, IT, HR, sales and marketing roles. Trettner says hiring without meeting a candidate is becoming more commonplace, especially for retail and e-commerce employers who have to hire large numbers of workers.
“Making a hiring determination over the phone is acceptable, and I think a lot of companies are doing that,” she says.
During the holidays, for example, retailers may not have the time to interview hundreds of candidates for a position, Trettner says. But, she adds, many companies that hire employees without meeting in person often have a “game plan” for onboarding that gets workers quickly up to speed on what they will be doing on the job. Making the hiring process more efficient is better for everyone, she says.
“It all comes down to filling the positions so they can remain productive,” she says.
Trettner says she would consider hiring workers without meeting them, but at the end of the day, it’s up to the employer client. If a client, for example, needs 300 new workers in a short period of time, Trettner says she would suggest they consider expediting the hiring process a bit to help save money and time.
“I open them up to anything I think is efficient,” she adds.
Some organizations would rather take extra time choosing candidates. Kathleen Sheridan, associate director of global staffing for Harvard Business Publishing, says she knows from 20 years of experience that phone interviews can’t tell you everything about a person. She once sat down with three candidates for a sales position; they all performed well during a phone interview, but completely fumbled while answering questions during a sit-down meeting. None of them were hired, Sheridan said.
“You can come across as a completely different person over the phone,” Sheridan says. “As cumbersome as interview process can be, the value of bringing people in and allowing them to see you is worth it.”
As someone who works with people on a daily basis, Sheridan says she would be distrustful of any job offer from someone she’s never met. She says higher-level executives at Harvard Business Publishing will travel out of the country to meet with prospective hires.
“A decision to join a company is emotional as well as very practical. I think you need to give people a chance to check their emotional response and get a feel for the culture and vibe,” Sheridan says. “I would ask myself, ‘what is it about your organization that you would deny me the opportunity to meet the people who are in the headquarters of this company that I’m going to represent?’”
Peg Buchenroth, HR director of employment agency Addison Group, says most of her clients request in-person interviews for job placements in the IT, engineering, healthcare and finance accounting industries. She says it’s unlikely to change.
“It’s maybe more common in the seasonal retail industry for the holiday season. For our types of positions, there’s no reason not to interview when we have the ability to do Skype interviews,” Buchenroth says.
SOURCE: Webster, K. (5 December 2018) "Call today, work tomorrow: The future of hiring?" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/call-today-work-tomorrow-the-future-of-hiring?brief=00000152-14a7-d1cc-a5fa-7cffccf00000
Poor hiring practices costing employers valuable talent
A survey by CareerBuilder and SilkRoad discovered that 68 percent of employees believe that their experience as a job candidate reflects how a company treats their employees. Read this blog post to learn more.
A growing number of employers say they find it hard to land good talent — but their own complicated or outdated hiring process may be partly to blame.
Job candidates today have higher expectations for communication, technology and onboarding during their job-search process, according to a new survey from job site CareerBuilder and onboarding tech provider SilkRoad. In fact, 68% of employees believe their experience as a job candidate reflects how the company treats its people.
Dissatisfaction with the process can begin as early as step one: Close to half of prospective workers (46%) are only willing to spend up to 15 minutes before giving up on an application, according to the report.
Not only is time of the essence, but the application experience is paramount, too. While potential workers won’t discount a company entirely for not having a mobile application option, employees are searching for jobs on their mobile devices more than ever before.
The fight for talent is only going to become more intense, and employers need to deliver on job seekers’ continuously evolving expectations to attract the best candidates, says CareerBuilder CEO Irina Novoselsky. “This starts with streamlining the entire hiring process, from the first candidate engagement to new-hire onboarding, which can be achieved through technological innovation and a more intuitive, mobile-friendly experience.”
A consistent dialogue remains another big must-have for candidates. Expectations among applicants are changing for when and how they hear from a prospective employer, the study found. Once they’ve applied, job seekers want more — not less — communication.
Many applicants cite a lack of acknowledgment or receipt notification from an employer for a submitted application as a top frustration of the job search. Additionally, 76% of job seekers say they expect to receive a personalized email from an employer acknowledging they received the application. This percentage decreases steadily as the age of the job seeker increases, but it’s consistently the top method of communication expected.
Other top notification methods include phone calls (36%) and text messages (18%).
Regardless of the type of communication, a majority of applicants want — and expect — employers to keep them updated throughout the process when they apply for a job. Candidates want a clear timeline for the hiring process and will begin to discount a company if they are left in the dark. When applying to a job, 55% of employees are willing to wait less than two weeks at the most to hear back from an employer before they give up and move on.
And employers shouldn’t end the engagement once an offer is made, the survey results suggest, because with 51% of potential candidates continuing to look for new opportunities after being extended an offer, the use of personalized, ongoing communication through the onboarding process will remain key.
When nearly one in 10 employees have left a company because of a poor onboarding experience, it’s important to understand the full scope of onboarding that is expected by today’s employees, according to the survey. Successful onboarding for a new hire is critical for their long-term vision of culture and career potential at the new company. However, a focus on the mission and growth factors of the company can’t neglect seemingly basic onboarding elements for the employee’s day-to-day experience and overall integration into operations.
“Technology is playing an increasingly critical role in enabling touchpoints along the recruitment and new-hire journey to facilitate human interactions,” says Robert Dvorak, CEO of SilkRoad. “We realize the customer’s journey doesn't end with a purchase, nor does the employee’s end with an offer. By using technology throughout the entire employment journey, employers can intentionally onboard candidates and employees, keeping them engaged at key points over time.”
SOURCE: Otto, N. (28 November 2018) "Poor hiring practices costing employers valuable talent" (Web Blog Post). Retrieved from: https://www.benefitnews.com/news/poor-hiring-practices-costing-employers-valuable-talent
Creating Better Employee Benefits With Advanced Analytics
It is important to provide a workplace, employee benefits and payment system that keep your employees happy. Read this blog post to learn how you can create better employee benefits with advanced analytics.
Job satisfaction is the most important part of maintaining a happy workforce. If you have a workforce that feels like they could get a better deal elsewhere then they are likely to leave.
It is therefore important to provide a working environment, benefits and payment system, that keeps your employees happy without breaking the bank.
Analytics are being used to make sure that this is being done effectively, seeing where discontent is occurring and helping to suggest how this can be solved.
For instance, there are research companies that can use text analysis tools to analyze hundreds, if not thousands of survey entries that can give a holistic view of employee benefits. Often when survey results are being analyzed by an individual, it is difficult to gauge the overall feeling and there can be bias put on the results.
It also allows for HR to note the frequency of meetings with individuals as well as the frequency and size of any pay rises. If it is flagged that somebody hasn’t had a meeting with HR where they can directly communicate any concerns for a considerable amount of time, then tho scan be rectified.
Analytics can also be used to investigate which teams are happiest, have the highest retention rates or are the most profitable. This then allows companies to investigate in detail what is making these teams happiest or most productive, then create benefit packages to create similar results for other teams in the company.
Analytics and data have allowed companies to collect data to make their workforces happier and more content. This, in turn, creates situations where employees are eager to work and appreciative of the benefits they receive, improving ROI and increasing productivity.
How data science can help employers build better benefit plans
New approaches to data science are now allowing companies to have many different definitions of data and have them all coded. Read on to learn how data science can help you build a better benefits plan.
Is your data management system overdue for an overhaul? Benefit plan sponsors don’t need to feel stuck with old systems requiring hours of manual data entry, according to Marc Rind, chief data scientist for ADP.
“I’ve been in data for a long time,” he says. “For generations, the traditional data management approach has been people having to standardize data.”
But people in different companies — even different departments of the same company – could have different definitions and means of data. An organization’s governance team would have to come up with one definition for everyone to adhere to.
With new approaches to data science, Rind says, “you’re able to have many different definitions of your data and have them all coded. It’s not about governing the definition of data but more about enhancing and publishing that data.”
With data science, employers and those in HR can see trends much more easily using automated mapping and search capabilities. This will allow them to see trends over time, like what people are choosing for their benefit plans and how benefits impact employee productivity and engagement.
“It builds context around the data,” Rind says. “For employers, they have to not only understand which benefit offerings they have to offer to employees but the effect on retention. They can also see what similar employers are offering and if they are getting higher retention rates.”
Employees can use the data to see what benefits others with similar backgrounds have chosen to get, helping them decide what their perfect healthcare plan looks like. However, they cannot yet see how satisfied people similar to them were with these benefits. Rind says that this feedback loop is important, and will become more prominent for the next generation of data science systems.
SOURCE: Spiezio, C. (16 June 2016) "How data science can help employers build better benefit plans" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/how-data-science-can-help-employers-build-better-benefit-plans