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Archive for January, 2017

MANAGING MILLENNIALS IS CHANGING CORPORATE CULTURE

In 2015 Millennials surpassed Generation X to become the largest percentage of workers in the U.S. workforce.  Millennials are a generation that expects transparency, are driven by achieving purpose and fulfillment, prefer open communication, a great company culture, involvement with causes, and are more digital than any generation that preceded it.  Businesses seeking to engage employees in their work will now have to tailor their approaches to Millennials.

Millennials are optimistic and connected and they thrive on innovation and change.  They believe that a single person’s voice can make a difference.  Their preference is for organizations to have open, fair, transparent, and inclusive leadership styles.  They desire direct access to a number of peers and other leaders, rather than being limited to working with one leader or manager; this represents an opportunity for organizations to evolve in ways that benefit both the organization and the employees.

Millennials value leaders who place a strong emphasis on employee well-being, growth, and development, instead of controlling the work experience of each employee.  An organization’s treatment of its employees is of high importance, especially as a leadership quality for the Millennial generation.

To manage Millennials, it is important to show respect, listen to and value their ideas and complaints, including having work structures and processes in place that allow implementation of those ideas.   Millennials need attention and to know that their work and efforts are valued.  Encourage them, and help them develop confidence by giving them opportunities for success as well as turning ‘failure’ into a positive learning experience.

Face-to-face communication is important to Millennials; be sure that the conversation is a two-way street.  Listen to them and learn from them as well.  Millennials are looking for leaders who care about people.  Conversations should be a give and take and a sharing of information and knowledge.  Millennials want leaders who possess strong social skills, have vision, passion, and are decisive.

Millennials do understand productivity expectations, meeting times, project deadlines. It is okay to provide the necessary structure, but do this without micromanaging.  While they like to take projects and run with them, they also want regular and frequent feedback that includes praise, constructive critique, as well as an opportunity for learning and growth.  Millennials want to be sure their work matters in the larger scheme of things.  Millennials want flexibility with job duties and when and where they work.    It will be important to provide development opportunities as well as opportunities to work in teams.

Millennials are a generation that wants to make the world better. They want to work for an ethical company that they believe is behaving in ways to make the world better. Whether through charitable giving, paid leave to help out with charitable work, companies need to demonstrate through tangible and real actions a genuine concern for society and not only for the company’s bottom line.  Millennials want to work for a company known for doing good.

In summary, Millennials are positive-thinking with an entrepreneurial and hard-working spirit; they want their lives to matter and believe they can change the world. They are a fantastic addition to your team and the largest part of the workforce that you will need to rely on more and more into the future.

WageWatch offers accurate, up-to-date HR metrics, benefit survey data, market compensation data and salary reports that will allow you to stay current. This information is highly beneficial in creating the best salary and benefits packages that meet or rival the industry standards. The PeerMark™ Wage Survey is the only Web-based custom survey tool that allows individual survey participants to select their competitive set for comparison purposes.  Our experienced compensation consultants can assist with your organization’s compensation needs.  We can help ensure internal equity and compliance with regulations as well as help you structure compensation programs to support your company’s business strategy and objectives.   For more information on our services, including consulting, salary survey data, benefit survey data and market compensation reports, please call WageWatch at 888-330-9243 or contact us online.

ARE YOU ATTRACTING TOP TALENT?

Many business owners find it to be a huge challenge to attract and retain a group of talented and hardworking employees that are loyal to the company and its mission. Finding high caliber employees with advanced skills to complete important jobs within a company is a challenge that not only exists in today’s marketplace but one that business owners have had to navigate for many years. Everyone is looking for top talent, and those companies that excel in attracting and retaining this talent are the ones that will reap the rewards. In addition to a number of other factors, businesses that retain the best employees offer great compensation and benefits packages.

To retain talent, it is essential that loyalty is established. In order to do this, the employee must feel that their job is instrumental in achieving the goals of the company, making them excited to come into work each day and give it their all. It is also important that the work the employee accomplishes is acknowledged, affirming their place within the company, and offering them opportunities for growth.

While compensation and benefits packages are one of the largest factors considered by employees, it isn’t enough to make the top talent stay. The following are a few ways that you can attract and retain the best employees at your company:

  • Promote open communication. When a company is completely open with employees, everyone will feel respected. Instead of allowing rumors to spread, let your employees know as soon as possible about anything that is going on in regards to the company. When possible, let your employees be a part of the decision-making process. A culture of open communication is very attractive to employees.
  • Provide opportunities for team building. Most employees enjoy interacting with their coworkers. By encouraging teamwork, employees are able to build great working relationships and establish a trusting, open environment for the company. When working together toward a common goal, employees are more motivated and excited about their jobs, often producing excellent results.
  • Cater to individual work style. Each employee has a different way that they prefer to work, learn and be managed. When you as an employer take the time and effort to make adjustments for each employee’s needs, they will respect the company more and loyalty will, once again, be built. This will also help you to establish teams that will work best together based on their work styles.
  • Acknowledge your talent. When an employee does a good job, it is important that you recognize them for their efforts, so they feel that they are a valued member of the team. A majority of employees leaving a company do so because they feel unappreciated. Employees want to feel that the work they are doing is making a difference, so acknowledging their work often is essential. Also, review surveys and compensation data within your industry to determine what benefits and bonuses should be awarded to your top performers.

Implementing the above suggestions will help your company to build a culture that encourages retention of employees, which in turn will attract top talent. In addition to providing a great work environment that respects employees and provides opportunities for learning and growth, it is also important that they receive a solid benefits package. At WageWatch, we provide accurate compensation and salary data for hospitality, gaming and tribal gaming, healthcare, colleges and universities as well as a wide variety of other industries. To learn more about our up-to-date market compensation data call 888-330-9243 or contact us online.

 

MOTIVATING EMPLOYEES BY JOB DESIGN

With changing demographics and a more competitive job market, human resources are more challenged than ever before to hire, engage, maintain and keep employees happy and motivated.  Workers want more choice and flexibility in how they approach tasks, for example, more opportunities to work collaboratively.  They look for more opportunities to change duties, for exploration, to learn and to advance in their career in a less linear way.    It is not only desirable but essential for businesses to have motivated employees.  Today many human resource professionals are looking at how to design jobs, work environments, and cultures that motivate employees.

Job specialization is the earliest approach to job design. Job specialization is efficient but leads to boredom and monotony. Early alternatives to job specialization include job rotation, job enlargement, and job enrichment.

Job rotation involves moving employees from job to job at regular intervals. When employees periodically move to different jobs, the monotonous aspects of job specialization can be relieved.

Job enlargement consists of making a job larger in scope by combining additional task activities into each job through expansion

Job enrichment is concerned with designing jobs that include a greater variety of work content, require a higher level of knowledge and skill, give the worker more autonomy and responsibility, and provide the opportunity for personal growth.

Research shows that there are five job components that increase the motivating potential of a job: skill variety, task identity, task significance, autonomy, and feedback.

  • Skills
    • People will be more motivated if they are using a variety of skills in their positions, rather than one thing repeatedly.
  • Tasks
    • Employees are motivated to complete tasks if they identify with them and have seen them through from start to finish.
    • When employees feel that their work is significant to their organization, they are motivated to do well
  • Autonomy
    • Employees like to be able to make decisions and have flexibility in their roles. Most employees will have lowered motivation if they feel they have no freedom or are being micromanaged.
  • Feedback
    • Employees need feedback (both positive and negative) in order to stay motivated.

The quality of life in a total job and work environment is also an important part of a positive and motivating experience for employees.  The elements included in ‘quality of life’ include open communication equitable reward system, employees’ job security and satisfaction, participative management, development of employee skill, etc.  Since a significant amount of one’s life is spent at work, jobs need to provide satisfaction for sustained interest.  Jobs provide employees not only a living but also help in achieving other goals such as economic, social, political and cultural.

The concept of empowerment extends the idea of autonomy.  The idea behind empowerment is that employees have the ability to make decisions and perform their jobs effectively.  Instead of dictating employees roles, companies create an environment where employees thrive, feel motivated, and have the discretion to make decisions about the content and context of their jobs. Empowerment is a contemporary way of motivating employees through job design.

A growing body of research on the relational structures of jobs suggests that interpersonal relationships play a key role in making the work experience important and meaningful to employees.  Interpersonal relationships can often enhance employees’ motivations, opportunities, and resources at work.

Though employees need to have some intrinsic motivation (internal motivation) to complete the tasks assigned to them in their roles, they also need to be motivated by their employers. By designing jobs that encompass all of the core characteristics, you can help increase employee motivation, in turn improving performance.

WageWatch offers accurate, up-to-date benefit survey data, market compensation data and salary reports that will allow you to stay current with the times. This information is highly beneficial in creating the best salary, incentive and benefits packages that meet or rival the industry standards. The PeerMark™ Wage Survey is the only Web-based custom survey tool that allows individual survey participants to select their competitive set for comparison purposes.  Our experienced compensation consultants can assist with your organization’s compensation needs.  We can help you ensure internal equity and compliance with regulations as well as help you structure your compensation programs to support your company’s business strategy and objectives.   For more information on our services, including consulting, salary survey data, benefit survey data, and market compensation reports, please call WageWatch at 888-330-9243 or contact us online.

HUMAN RESOURCES SHIFTING FOCUS FOR 2017

The traditional workforce is changing faster than our organizations can keep up and the way employees work is becoming more fluid, flexible, and dynamic.  In 2017 Human Resource leaders need to rethink traditional policies to meet the needs of a more open, expressive, and changing workforce.  With changing demographics and a more competitive job market, human resources are more challenged than ever before to hire, engage, maintain, and keep employees happy and motivated.  Human Resource Professionals should strive to become more innovative, nimble, and observant, and to create agiler human-natured organizations.

Millennials are now the predominant group in the workplace and we have the most diverse, multi-generational workforce in history. HR professionals are challenged with understanding what drives each group and trying to keep everyone happy.  Benefits and other programs may need to be redesigned to meet those needs.

Over the last couple of decades, technology has made it easier to work and to be expected to work beyond the 40-hour workweek.  While some jobs truly require this, many don’t.   More employees are now pushing back on this trend.  Employers who limit intrusions into employees’ time off will have an edge in attracting and retaining good employees who want to be able to leave their jobs at the office. Help people take time off.  Many employees don’t use all the vacation time that their benefits package offers. This may be because they don’t feel that their workload allows it or due to workplace culture.  Studies show that well-rested, refreshed employees are more productive and less likely to burn out.

Workers want more choice and flexibility in how they approach tasks, for example, more opportunities to work collaboratively.  They look for more opportunities to change duties, for exploration, to learn and to advance in their career in a less linear way.   Put more into training and developing staff.  As companies have tried to do more work for less money, their employees often bear the brunt of those sacrifices.  Make this the year that you invest in your employees as a long-term investment in your organization.

While recent years have been tough on business, it has also been tough on employees.  As business tightened its belt, employees were expected to take on more work, more hours, and more stress.  Budgets may still be tight, but recognizing and rewarding your employees’ efforts is essential.   Get creative with rewards.  Find out what your employees need and want.

Make sure feedback is timely, appropriate, and genuine. This will go a long way with the employee and makes for a more positive workplace environment overall.  Feedback is one of the strongest tools managers have for getting better results from their teams.  Talking to your employees about the areas in which you’d like to see improve or describing what you’d like to see done differently can go a long way toward making that change happen.  Positive feedback will generally keep people motivated and display the behaviors that drove the praise in the first place.

2017 will continue to see our workplaces evolve into more humane, people-centered spaces. Rather than reacting to pressure from business leaders and employees, HR leaders will need to rethink traditional policies to meet the needs of a more open and expressive workforce, taking a front seat in driving successful business outcomes.

WageWatch offers accurate, up-to-date benefit survey data, market compensation data and salary reports that will allow you to stay current with the times. This information is highly beneficial in creating the best salary, incentive and benefits packages that meet or rival the industry standards. The PeerMark™ Wage Survey is the only Web-based custom survey tool that allows individual survey participants to select their competitive set for comparison purposes.  Our experienced compensation consultants can assist with your organization’s compensation needs.  We can help you ensure internal equity and compliance with regulations as well as help you structure your compensation programs to support your company’s business strategy and objectives.   For more information on our services, including consulting, salary survey data, benefit survey data, and market compensation reports, please call WageWatch at 888-330-9243 or contact us online.