How Do Employee Engagement Strategies Combat Quiet Quitting?
Guest writer Ed Wallace returns this week with a blog post on building the kind of environment that fosters employee satisfaction in, “How Do Employee Engagement Strategies Combat Quiet Quitting?”
The term “quiet quitting” describes the phenomenon whereby employees become disengaged and disinterested in their work, but instead of leaving the company, they work less productively. One of the best ways to counter quiet quitting is by implementing employee engagement strategies. According to a recent Gallup poll, “quiet quitters” make up at least 50% of the U.S. workforce. In addition, the ratio of engaged to actively disengaged employees is now 1.8 to 1, the lowest in almost a decade.
Quiet quitting is a significant challenge for leaders, as it can cause long-term damage to company culture, morale, and business outcomes. Read on to learn about employee engagement best practices.
What is Employee Engagement?
Employee engagement is the level of commitment an individual has to their work and the company they work for.
Countering quiet quitting requires an initiative-taking approach to employee engagement, which can help to boost motivation, job satisfaction, and productivity.
Engaged employees are more likely to be enthusiastic about their work, more committed to their employers, and more willing to go the extra mile to achieve company goals. This is crucial because it can impact employee retention, customer satisfaction, and business performance. Companies with the highest rates of employee engagement are 21% more profitable and 17% more productive than those with a more disengaged staff.
How to Use Employee Engagement to Increase Motivation.
To combat quiet quitting, business leaders must invest in employee engagement best practices. Here’s how.
Cultivate a Positive Company Culture
Company culture is the attitude or environment within an organization. Businesses with positive cultures value diversity, inclusivity, open communication, encourage collaboration, and have higher rates of employee satisfaction. They also ensure employees don’t feel like they don’t matter or are replaceable.
Positive company culture is one of the most critical employee engagement strategies because it helps employees feel more connected to their work, team, and the company’s mission.
Promote Employee Well-Being
Workplace initiatives, such as wellness programs, flexible working arrangements, health screenings, and mental health resources show employees that their well-being is a priority. In addition, a more positive environment that rewards employees who perform well can help reduce burnout and anxiety. When they feel supported and cared for, they are more likely to be motivated and engaged at work.
Provide Growth Opportunities
Providing growth opportunities is one of the key employee engagement best practices. When employees see a future for themselves within their company, they are more likely to stay engaged and motivated. Invest in employee training and development opportunities to inspire them to learn new skills, take on challenges, and progress in their careers.
Foster Meaningful Relationships
Strong relationships among team members create a more supportive and collaborative work environment. When employees feel personally connected to their colleagues, they are more likely to be engaged and more committed and loyal to their work and team.
Recognize and Reward Employee Contributions
Rewarding employee contributions is among the top employee engagement best practices. Acknowledging splendid work also boosts morale, increases confidence, and encourages employees to perform their best.
Employee Engagement Examples.
Here are some tangible actions to boost employee engagement within your organization.
Conduct a Survey
An anonymous employee survey helps you gauge your baseline. You can structure the survey with a rating scale, open-ended questions, or multiple-choice questions. Consider topics such as employee and management interaction and overall company mission. The survey results will help you identify areas that require the biggest boost.
Pay Employees to Volunteer
Paying employees to volunteer shows them that your company has a greater purpose beyond its bottom line and is making a positive contribution to society. Choose nonprofit organizations that align with your company’s mission and area of focus such as homelessness, books for underserved kids, or veterans.
Create a Mentoring Program
Mentorship supports employees as they progress in their careers by supporting them so they can identify their goals and overcome challenges. They also provide guidance and are particularly beneficial for underrepresented groups. A study from the University of California Haas School of Business found that mentoring programs are especially important for young women.
To design a mentoring program, create a clear structure that addresses key components such as how long it will last and how mentees will connect with and pair with their mentors. Lastly, provide an opportunity for mentors and mentees to give insight into their experience.
The Bottom Line: How to Use Employee Engagement to Increase Motivation.
Business leaders must prioritize employee well-being, foster positive company culture, provide development opportunities, foster meaningful relationships, and recognize and reward employee contributions. By implementing these strategies, leaders can create a more engaging and supportive workplace, ultimately improving employee retention, productivity, and overall enterprise success.
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Top Three Reasons to Skip the University System
Top Three Reasons to Skip the University System
Guest writer Isaac Rollor shares some different options in 2023 for high school graduates in “Top Three Reasons to Skip the University System.”
Top three reasons to skip the university system and pursue a heavy equipment career in 2023.
Imagine yourself as an 18-year-old high school graduate today. Now imagine that you must decide whether to attend a university or find a job and start a career. In years past this decision was simple for most of our culture. Just a few years ago college was almost a non-negotiable experience in the eyes of mainstream parents and teachers. For an 18-year-old today there is a new grassroots message regarding university attendance and careers that is gaining momentum. This new message lowers the importance of attending a university and raises the importance of developing a skill within a career area. A growing number of parents are embracing this new message mainly because the cost of college is out of control, and parents see clear evidence that many positions requiring technical skill are currently not filled.
An 18-year-old today must be very courageous to embrace the new message and start a career without attending a university. Choosing a profession can be overwhelming so I have outlined the Top 3 reasons to skip university and pursue a heavy equipment career in 2023.
#1 Stability
The market for construction equipment is expected to continue growth despite signs that other areas of the economy may contract in the coming years. Regardless of economic factors there are certain skilled positions at manufacturers and dealers are already facing labor shortages. Job areas such as repair technicians and technical support are constantly in demand. Most of the manufacturers of heavy equipment have very recognizable brands and products. Plus, most manufacturers and dealers have made huge investments in fixed operations which means there is a very slim chance that your career with a dealer or manufacturer will be outsourced or quickly replaced by technology like AI. Need more evidence that this industry will survive economic uncertainty? Look at any reputable market research report. Currently the U.S. construction equipment market alone is valued at approximately 149 billion, and the market is expected to grow to approximately 194 billion by 2030.
#2 Career Development
One of the best benefits about pursuing a heavy equipment career is that starting at an entry level position can quickly lead to more responsibilities and a high paying job title. Proving to management that you are a safe and responsible team member will be like rocket fuel for your career within the organization. Negligence of employees can cost a dealer or manufacturer a great deal of time and money. Proving to management that you can work safely around machines and that you value the safety of your coworkers and customers is critical. Another benefit of working in the heavy equipment business is that training opportunities are readily available. Whether this is on the job training or formal classroom style training, most manufacturers and dealers place high importance on training their teams. Typically, a culture of training exists in this industry. You can easily take advantage of training to advance your career. Tuition assistance is also common at manufacturers. If you feel that you need to pursue a degree from a university the tuition assistance program from your employer can be a great way to get started.
#3 Job Satisfaction
There is something very special about working with heavy equipment. Many industries professionals recall having been interested in big yellow machines at a very young age. There is something captivating about watching an excavator load trucks at sunrise or seeing the loader that you repaired go back to work in the gravel pit. Aside from the machines the people who work within the industry are interesting and usually very enjoyable to work with. If you love the outdoors, you will feel right at home with heavy equipment professionals. Developing longstanding relationships with coworkers in this industry is very common. Hunting and fishing with your coworkers are common in this industry, so if you are an outdoors person this is a great career area to consider. Another great benefit to working within the heavy equipment industry is that you get to be outdoors regularly while on the job. There are many professionals that spend almost their entire working lives inside an office building. Working outdoors and getting your hands dirty is a key element that makes this career a satisfying choice for many people.
Final thoughts
I started my career during the great recession. There weren’t a lot of opportunities for college graduates at that time. There were many college graduates who couldn’t get a job and those college graduates who had jobs were regularly being laid off due to economic conditions. During this time, I was working as a heavy equipment mechanic. Not only did I have a secure job, but I was also making more money than college graduates could expect to make in the first several years of their career in a healthy economy. The best part was that I had zero college debt. I took advantage of a grant provided by my state and attended a two-year diesel equipment technology program. Before I finished the program there were major brands offering me and my fellow classmates’ jobs with great pay that included a solid benefits package.
This experience allowed me to see that there was another path available to me outside of the typical university system and I saw that certain career areas such as heavy equipment was in desperate need of dependable talent. I started working in the heavy equipment industry with zero experience, the industry was so desperate for skilled labor that a grant paid for my education, and I was consistently employed and promoted during one of the worst recessions in our countries history. During my career I have held positions as a maintenance mechanic, diesel technician, technical trainer, content developer/instructor and various sales positions. The heavy equipment industry allowed me to reach my full potential within each job area and build long standing relationships with truly great leaders. If you are interested in starting a career in the heavy equipment industry or you need some guidance regarding career development, you can reach out to me anytime is**********@***il.com. I always respond.
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Changes in Learning
Changes in Learning
Today, our Founder Ron Slee writes a blog post on the many changes in learning. He also makes a few grumbles about how his family gives him a hard time!
It has been some time since I wrote a blog on employee development. It is unusual for me not to be sharing my thinking with someone, in some cases anyone. I have been confronted on two fronts recently: My daughter Caroline who is a teacher in the desert in Southern California and my granddaughter who is pursuing her master’s degree in Hawaii.
Both love to provoke me. I can’t imagine why.
My granddaughter was excited to share a book they are using in one of her classes this semester – “The Narrative Gym.” It is about Communications. It is an amazing read and a more amazing subject to be teaching students in a master’s program. Of course, communication is one of the keys to life. We are social animals after all. COVID set us back somewhat in the communications area. Working from home is another example of how we reacted, or perhaps responding is a better way of saying it. Many businesses found that they could redesign their work. I know many people started to redesign their lives.
My daughter recently suggested another book – “Ruthless Equity: Disrupt the Status Quo and Ensure Learning for ALL students.” Talk about a powerful book. Many of us have become tired of the status quo when either protecting it or attacking it seems to be tearing apart everything that we have believed to be true. This book restores my soul. “All men are created equal” but then everything we do stresses the inequalities.
At Learning Without Scars we are aiming to help everyone identify their individual potential. That is an extremely difficult thing to do. People’s eyes glaze over when I talk about it. What I am trying to do though is provoke people to think. To think about everything and anything that they do. You know how envious I am of the Japanese societal approach to Kaizen. Make everything you do better every day. This is a view of work that in my mind allows people to become more engaged as people in what they do. They can CHOOSE how to do their job. They can CHOOSE to make their lives better by how they do their job. In the world that I grew up in, that was not the primary goal. Let me show you how this is done. Let me tell you what I just showed you. Then let me tell you again what I showed you. Now you try. I will be here to help so don’t worry. But just do it. Do it my way. Then practice it and get better at it. Make fewer mistakes and do it faster. Now you are doing the job. Just keep on doing it.
That is what I rejected in my early thirties when I started in the consulting world. I knew there were better ways to do things. 1980 when I opened R.J. Slee & Associates in Edmonton, Alberta was also when America was invaded by the Continuous Improvement Revolution. Total Quality Management arrived. Edward Deming and Joseph Duran brought their thinking back to America from Japan where they had been implementing it.
For a long time, I have used a tool I developed called “Five Things” that is aimed directly at the Continuous Improvement objectives. I ask people to list five things that they would like to change about their job that would make things easier for them personally. Then five things that they do that are a real pain to do. Finally, five things that they would like to change in their work to make things better for the company. Normally I do this in a group setting. We then take the individual items and put them on a flip chart, a blackboard or a screen so everyone can see them. You can imagine their surprise when many had the same thoughts. Not just that but their true shock at how many were on all three lists. So, something that would make their lives at work better, eliminate something that is a pain for them to do and at the same time is beneficial for the company. Of course, my questions are always the same. If that is true, then why haven’t we already addressed it?
I have a request please. Go get either of these books. Better still get both. Read them and think about the concepts and positions taken. Then send me an email with your thoughts. Let’s have a mini book club in the ether. Online.
In the meantime, for those of you who haven’t subscribed to our quarterly newsletter there is still time. The last one was published October 1st. You can subscribe at www.learningwithoutscars.com.
At Learning Without Scars we offer one hundred and thirty-eight Workforce Development classes. That is six hundred and eighty hours of learning. It provides sixty-nine academic credits.
At Learning Without Scars we offer twenty-eight Technical Schools classes. That is five hundred and sixty hours of learning. It provides fourteen academic credits.
At Learning Without Scars we offer two lecture series covering twenty hours of lectures which produces two academic credits.
That is one hundred and sixty-eight classes, which is one thousand two hundred and sixty hours of learning.
To say we have been busy with product development is a serious understatement. Not only are we interested in helping you identify your potential, but we also provide you with learning tools to help you achieve it. All the best in your pursuits.
The time is now.
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Can’t Find Technicians?
Can’t Find Technicians?
Guest writer Alex Kraft challenges the pattern of blaming entire generations of people for labor shortages in his blog post “Can’t Find Technicians?”
I get a chuckle when I hear the narrative around “can’t find people who want to be a diesel technician.” I’ve heard it since the day I started my career in 2004. The same message persists today. Nothing has changed. I find it counterproductive to try and blame individuals by questioning work ethic and calling generations lazy. Many topics aren’t that complicated, people respond to incentive structures. The main reason the technician labor pool has been lagging is purely economic.
Anyone who’s worked in the equipment industry would agree that diesel technicians are a highly skilled labor force. Many say they are the “lifeblood” of the dealership. Throw in some cliches, like “customer support sells the next machine” or “we’re a service company that sells machines,” and you start believing that service is the most important department within an equipment dealer. I’ll cut to the chase: so why aren’t technicians paid more? If they’re highly skilled (and in high demand!), are relied upon to fix $400,000+ machines, and preventing customer downtime is so important, why aren’t technicians paid more? The wage scale hasn’t changed much since I began in 2004. Depending on geography, top tier technicians today earn around $40-$45 per hour. Do the math, that’s $85k-$95k per year. That’s a fraction of what sales reps earn per year. There’s no shortage of equipment/rental sales reps, but there’s a shortage of diesel technicians. Yet the industry leadership continues to ask aloud, ‘why can’t we find more technicians?’
There’s been a huge uptick in the younger generation pursuing software engineering careers. Why? Two key factors: there’s a growing demand for the role and it pays extremely well. Our company employs software engineers. The market rate for software engineers is $85-$120 per hour. I’d bet the “teach your kids to code” movement wouldn’t be nearly as popular if $30-$40 per hour was the going rate for those jobs. I haven’t even begun to delve into the job environment! Diesel technicians work in harsh conditions (extreme temperatures), it’s physically demanding, and high stress. Hey, it’s mid-July in Arizona/Florida/Texas/Louisiana, we need you under this wheel loader for 8 hours today getting filthy, and we’ll pay you $27 per hour. Repeat the same thing tomorrow, and the day after…Maybe two years from now, we’ll bump you to $32 per hour. And we wonder why more people aren’t signing up for this. It’s now well documented that UPS drivers earn up to $49 per hour!
The market demand is clearly there. The overall equipment market continues to grow YOY, creating an even larger supply of machinery that will break down. Do we collectively believe that there’d be a shortage of diesel technicians if there was a path to earning $200,000 per year? Imagine that marketing campaign. Here’s a career path that doesn’t require boatloads of college debt AND the ability to earn $200k+ annually. Or we can continue regurgitating the same talking points for another 20 years and just wish things would be different. I know what path we’re taking at Heave.
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How To Improve Customer Retention
How To Improve Customer Retention
This week, guest writers Steve Clegg and Debbie Frakes talk with readers about how to improve customer retention. This is one of the best ways to build successes: keep the customers you already have!
Retention is critical for the long-term success of any business. It’s crucial because it is far less expensive to keep your existing customers than to acquire new ones, and customers will buy more products and purchase more often from you the longer they work with you. Zintoro business analytics will tell you what your overall retention rate is and if you are in danger of losing specific at-risk customers. Armed with that information, you can take the right steps to ensure they keep working with you.
Why customers leave you.
Customers will stop working with you for any number of different reasons. But the primary cause is mismanaging their expectations and not keeping them proactively informed of good and bad news. The second most common reason that a customer leaves a business is a change in the employee contact or the customer contact. The third cause is having employees that are not adequately trained or knowledgeable of your products and services. Despite popular belief, price is not typically the thing that drives customers away. In fact, on the list of most common reasons, price is usually fifth or sixth.
There are several strategies you can implement to retain more customers over the long term. In this article, we’ll look at what they are and how Zintoro helps you put them into practice.
Retain more customers with Zintoro and their partners.
Offer exceptional customers service.
The key to providing excellent service is understanding customer expectations and being responsive to their questions and concerns. Your team should be proactive and reach out to customers before they contact you in order to answer the questions you anticipate them asking.
Zintoro uses Winsby Inc.’s customer satisfaction and benchmark survey programs to determine your customers’ expectations and any issues they are having. Your team can then act on this information. For employee customer service training, Zintoro relies on Ron Slee’s Learning without Scars’ online and in person training programs.
Personalize the customer experience.
Zintoro AI tracks each customer to determine their next purchase, what industry, and market they are in, and whether they are at risk of being lost. Using that information, your sales team can personalize customer interactions and tailor offers and recommend services to meet their needs, based on their past purchases and preferences. Zintoro also works with Winsby Inc. to keep your master lists up to date with the correct contacts, phone numbers, and email addresses, as well as to segment your lists and tailor messaging to specific groups.
Build strong relationships with consistent communication.
Improving customer retention depends on engaging with your customers and supporting them beyond the point of sale. Zintoro can help in several different ways:
Collect and act on feedback!
The key to understanding your customer expectations and issues is to regularly ask for feedback. Implementing customer satisfaction surveys from our partner, Winsby Inc., provides insights into how customers feel about your company and how well you provide for their needs. You’ll discover issues with your sales process, products, and other aspects of your business before they turn into major problems and customers leave you for the competition.
Know the signs that a customer may leave.
Zintoro tracks the products, frequency, and consistency of customer purchases to identify who is at risk. Your sales team can then act on that information and reach out to those customers, ask about their needs, and even provide a special offer or other incentive to encourage them to stay with you.
Highlight social proof and testimonials.
Showcasing positive customer experiences in your emails and on your website helps you convert more prospects and keep your existing customers. Zintoro AI tracks the online customer satisfaction scores, and Winsby Inc. posts your verified customer reviews online and on your website.
Zintoro is the key piece of the puzzle for customer retention.
Increasing retention is an ongoing process. By consistently providing value, personalization, and outstanding service, you can build long lasting relationships with your customers and increase their loyalty to your brand. Zintoro provides the data and information you need to understand your customers, and our partners give you the tools required to retain them and grow your sales.
Schedule a Zintoro demo to find out how they boost your customer retention, track, and accurately forecast business performance, and determine the ROI for your marketing and customer satisfaction efforts.
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Hiring for Skills VS. Experience: A Contemporary Approach
Hiring for Skills VS. Experience: A Contemporary Approach
This week, our guest writer Sara Hanks tackles some of the ways in which we shortchange candidates and ourselves in the hiring process with, “Hiring for Skills VS. Experience: A Contemporary Approach.”
On September 26, 2023, it happened; I was asked a question while on stage for a panel discussion that I was not prepared to answer. I was invited to participate in a panel discussion on productivity in the workplace through digital transformation, only 2 weeks before the event. When approached, I was provided a brief description of the panel and thought to myself, “I’m very qualified to talk about this topic. I have a completed digital transformation of the quality processes, from the shop floor to the top floor and out into the supply chain.” What I didn’t understand until an hour before was that the panel was specifically geared towards the human resource experience, a topic in which I didn’t have much exposure to. After confidently introducing myself, I was left to answer the question, “What trends am I seeing in the area of skills?”
Cue awkward pause and racing mind to even recall the question, let alone respond.
After a few seconds, I decided that I had something to say about the subject. The biggest recognizable trend that I’m seeing around skills is that there is a lack of emphasis on them, and companies are stuck hiring for experience vs. skills. Unfortunately, I had been passed up for promotion based on lack of experience in the role, even though their main objective was to enable the organization with technology and data. It was a tough pill to swallow, and I’m still convinced that I’m the best fit. Lately, I’ve had several conversations with job seekers that find themselves in the same position.
For highly skilled professions such as a brain surgeon, experience matters. I would prefer to be patient one thousand vs. the first patient after completing education. For other industries, many roles could be filled by looking at the skills required for a job and finding a person with those skills.
In an article published by the Harvard Business Review1 there has been a shift in companies requiring a college degree to perform a job. Between 2017 and 2019, employers reduced degree requirements by 46% for two-year degrees or certifications and 31% for high-skill positions. However, 37% of companies still require degrees and certifications, even with the shortages of qualified candidates. However, limitations exist beyond the qualification of a degree or no degree. You can have the proper degree, but have experience in a different industry, or the work history is less aligned with the work history sought by employers. My recent conversations show a problem with the latter.
The lack of adoption of skills-based hiring concerns me for two reasons:
If companies want to keep up in today’s environment, traditional approaches to hiring need to be re-evaluated.
Here are a few suggestions to start transitioning to skills-based hiring:
The suggestions above are those I have practiced doing. In doing some research on the topic,
I’ve learned that blind hiring is a widespread practice. By removing names and other identifying information, you can avoid unconscious bias. Diverse hiring panels can provide multiple perspectives, ensuring that a candidate’s skills are evaluated holistically rather than through a singular lens. The last suggestion that sounded intriguing was to introduce feedback mechanisms. Obtain feedback from people hired and managers to get perspective on the skills-based hiring process as it matures.
https://hbr.org/2022/02/skills-based-hiring-is-on-the-rise
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The Four “R’s” Within a Talent Management Strategy
The Four “R’s” Within a Talent Management Strategy
Guest writer Ron Wilson writes about one of the critical focus points of a business plan: the employees. Here he shares “The Four ‘Rs’ Within a Talent Management Strategy.”
Many years ago, we were developing business plans for the year and one of the critical areas of focus was Employee Retention and Recruitment. Retention and recruitment have been a challenge throughout our leadership roles, regardless of the department we lead, or the industry we are a participant in.
Within Employee Retention and Recruitment there are four areas of focus:
Focusing on the four areas above will improve employee retention and attract the new talent needed for the future.
Recruitment– This “R” focuses on recruitment of talent from outside the organization. Recruiting to fill the immediate and long term needs for skilled talent in our industry will continue to be an obstacle to business growth potential. Therefore, out of the box creative approaches are necessary to recruit talent.
Retention– This “R” places a great deal of emphasis on developing the talent within the organization to meet the immediate and long-term skill set needed to take the organization into the future.
Respect for dealing with each other leads us through the challenges that will occur. There will not always be an agreement in everything we do, but everything we do can be managed in a manner of respect. The issues should be addressed based on the issue, and not on the person.
Relationships that are positive between employees encourage an environment that allows growth and development as individuals and as teams.
The Four “R’s” play a significant role within our talent management strategy of taking care of the current employees and seeking the employees needed for the future.
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How to Avoid Losing At-Risk Customers
How to Avoid Losing At-Risk Customers
Guest writer Debbie Frakes returns with practical, step-by-step guidance in “How to Avoid Losing At-Risk Customers.”
How to Avoid Losing at Risk Customers: Recognize the Warning Signs
At-risk customers are the ones that you are in danger of losing to the competition. These are current customers who start purchasing less and less from you and eventually go somewhere else to get what they need. Preventing at-risk customers from leaving you requires two steps: first, you must identify who they are, and second, you must fix whatever is driving them away. In this article, we’ll cover how to do both.
The only way to identify who your at-risk customers are is to look at the key metrics. In particular, you want to look at their purchase frequency. If the interval between purchases is longer than usual for a specific customer, it may indicate that they are beginning to work with a competitor instead of you.
If you recognize that a customer’s purchase frequency is consistently decreasing, then you want your sales team to contact them. Most people will not tell you if your company is not meeting their needs. They will just leave you after a certain amount of time. Knowing their purchasing behavior will give you important insights into what they are feeling and how things are going.
Monitoring key metrics like purchase frequency is critical for preventing the loss of customers who are at risk.
Once you understand which customers are thinking of leaving, you can take the necessary action to keep them working with your company. The best way to boost customer retention and ensure people stay with you is by conducting customer satisfaction surveys. They help you recognize any issues that people are having with your company before they turn into bigger problems. If you catch the issue early and fix it, then you are showing at risk customers that you care about them, and the odds are that they will stay with you.
Retaining customers is important, because acquiring new ones can cost up to five times more than working with current ones. Immediate profits and long-term growth depend on avoiding the loss of at-risk customers.
Once you find out who your at-risk customers are and determine what the issues are that are driving them away, you need to act on that information. When you receive feedback from an unsatisfied customer, you’ll have the chance to contact them and make things right by addressing their concerns. Nothing tells customers you care like giving them your time and attention.
If you actually listen to what your at-risk customers are saying and take the time and effort to fix what they tell you is wrong, then they typically will no longer be at risk. In fact, these formerly at-risk customers tend to become your most loyal and dependable customers going forward.
If you want to know who your at-risk customers are by reviewing your key metrics, so you can prevent them from leaving, you need to begin conducting customer satisfaction surveys. Contact our partner, Winsby Inc. They will conduct effective surveys on your behalf and arm you with the information you need to retain more customers.
Contact Winsby Today
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Utilizing a Personalized Employee Benefit Statement as Part of the Employee Retention Plan
Utilizing a Personalized Employee Benefit Statement as Part of the Employee Retention Plan
Guest writer Ron Wilson offers insight into employee benefits tonight in, “Utilizing a Personalized Employee Benefit Statement as Part of the Employee Retention Plan.”
Employee retention plans have become an important part of the organization’s overall recruitment process. As we know the cost to recruit, hire, and train a new employee can exceed the cost of investing in the current employee, especially when we include the revenue lost while we are trying to fill the position.
Although effective Retention Plans have many elements, it is worth our time to focus on one specific element, a Personalized Employee Benefit Statement. Below is an example of how a Personalized Employee Benefit Statement was utilized in retaining a key employee.
A highly productive Product Support Sales Representative scheduled a meeting with me and during the meeting he presented a letter of resignation. We spent some time reviewing the reasons for wanting to leave the company, where he was going, and reemphasizing the importance of his role within our organization. As we were wrapping up our discussion, I gave the letter of resignation back to the employee explaining that I would not accept the resignation at this time and asked that he compare the benefits his “new” employer would be providing as to what he was currently receiving.
We would review what he found out the following day and at that point if he still wanted to resign, I would accept his letter of resignation.
Later that evening the employee called me and asked if he could withdraw his letter of resignation. During his review of the “new” employer’s benefits, he discovered their medical coverage was insufficient to what he was currently receiving and his accrued time off was far less than what he was currently receiving.
The Personalized Employee Benefit Statement played a key role in the retention of this key employee. There was work to be done to address some other issues, but we now had some time and an open dialogue to continue strengthening our relationship.
Content of a Personalized Employee Benefit Statement
There can be many elements within a Personalized Employee Benefit Statement, but we will review only a few:
There is no doubt many other examples you can recommend be added to a personalized employee benefits statement based on your organization’s information.
There were two key elements that contributed to the employee deciding not to resign. The medical insurance coverage provided by the new employer was insufficient due to some family medical needs and the new employer’s time off was insufficient to what the employee was accustomed to receiving.
The ability to quickly access this information and spend time with the employee to ensure their understanding of what is included within the current plan, what they may be giving up provided an environment of transparency and building trust.
This discussion may also identify areas the current employer may need to address as it relates to a competitive benefit package.
To effectively build a Personalized Benefit Statement requires:
What would you include in a Personalized Benefit Statement? Have you had similar situations and were able to retain an employee that was resigning?
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A Changing Mindset on Training: Activate the “Hidden Workforce”
A Changing Mindset on Training: Activate the “Hidden Workforce”
Guest writer Ed Gordon comes back this week with valuable advice on employee development in, “A Changing Mindset on Training: Activate the ‘Hidden Workforce.'”
At long last, there are signs that companies are increasing employee training and participating in talent development programs. Why is this finally happening?
A recent Federal Reserve program held in Chicago focused on how companies in four Midwestern states are partnering with their local communities to upskill younger entry-level workers. Companies from many businesses sectors are collaborating with K-12 and post-secondary institutions to offer both career information and educational programs aligned with current job requirements.
This program also included a public high school graduate who told the audience how mentorships and a career exploration program interested him in pursuing a STEM career. He is now eager to begin post-secondary education that will qualify him for a career in information technology.
A barrier that discourages publicly traded corporations from developing human capital is now being challenged. Arcane financial accounting rules currently classify employees of these companies as costs rather than assets. The Securities and Exchange Commission (SEC) is now considering proposals to require publicly listed companies to report spending on training and other human capital outlays. This may be a step toward moving the Financial Standards Accounting Board (FASB) to change accounting rules thereby giving companies the option of capitalizing and depreciating employee development as an investment, rather than expensing it as a cost that reduces earnings.
The Current U.S. Labor Market
Employer job training is also growing as an answer to the unprecedented demographic meltdown. Over this decade 10,000 workers are retiring each year (approximately 3.6 million workers annually). This will continue into the 2030s. Up to 66 percent of job openings are to replace these retirees.
A recent National Federation of Independent Business survey reported that 42 percent of their members (companies with 500 or fewer workers) had vacancies they cannot fill. The number-one problem facing members of the Association of General Contractors is the shortage of skilled labor. Contractors are reporting that this is causing them to turn down new construction projects.
In 2021 U.S. business experienced over 8 million job vacancies that resulted in a profit and productivity loss of over $1 trillion. By 2022 this had risen to over 12 million jobs and a $2 trillion loss. This trend seems to have abated somewhat this year. However, labor cost per unit rose to 6 percent in 2023. Average hourly earnings have increased 4.3 percent above last year as employers have raised wages to find qualified workers. Wage inflation is likely to continue unless businesses begin to enlarge the pool of skilled workers.
But where can this “hidden workforce” be found? According to U.S. Department of Labor reports, about 100 million Americans of working age are not participating in the labor force. Our research shows that at least 20 million of these workers have given up looking for employment because they lack some of the specific skills a job requires. They can fill such job vacancies if employers offer the job training needed to mobilize these skilled workers.
As many other nations are dealing with a declining working-age population and significant skills shortages, it is important to develop all our own resources. There are hidden workers in our midst who could become productive employees if their skills are updated. Are U.S. businesses now beginning to realize that persistent job vacancies cost them more than it would to start entry-level skills training or to participate in community partnerships that are renewing local talent pipelines?
Edward E. Gordon is the founder and president of Imperial Consulting Corporation in Chicago. His firm’s clients have included companies of all sizes from small businesses to Fortune 500 corporations, U.S. government agencies, state governments, and professional/trade associations. He taught in higher education for 20 years and is the author of numerous books and articles. More information on his background can be found at www.imperialcorp.com. As a professional speaker, he is available to provide customized presentations on contemporary workforce issues.
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How Do Employee Engagement Strategies Combat Quiet Quitting?
How Do Employee Engagement Strategies Combat Quiet Quitting?
Guest writer Ed Wallace returns this week with a blog post on building the kind of environment that fosters employee satisfaction in, “How Do Employee Engagement Strategies Combat Quiet Quitting?”
The term “quiet quitting” describes the phenomenon whereby employees become disengaged and disinterested in their work, but instead of leaving the company, they work less productively. One of the best ways to counter quiet quitting is by implementing employee engagement strategies. According to a recent Gallup poll, “quiet quitters” make up at least 50% of the U.S. workforce. In addition, the ratio of engaged to actively disengaged employees is now 1.8 to 1, the lowest in almost a decade.
Quiet quitting is a significant challenge for leaders, as it can cause long-term damage to company culture, morale, and business outcomes. Read on to learn about employee engagement best practices.
What is Employee Engagement?
Employee engagement is the level of commitment an individual has to their work and the company they work for.
Countering quiet quitting requires an initiative-taking approach to employee engagement, which can help to boost motivation, job satisfaction, and productivity.
Engaged employees are more likely to be enthusiastic about their work, more committed to their employers, and more willing to go the extra mile to achieve company goals. This is crucial because it can impact employee retention, customer satisfaction, and business performance. Companies with the highest rates of employee engagement are 21% more profitable and 17% more productive than those with a more disengaged staff.
How to Use Employee Engagement to Increase Motivation.
To combat quiet quitting, business leaders must invest in employee engagement best practices. Here’s how.
Cultivate a Positive Company Culture
Company culture is the attitude or environment within an organization. Businesses with positive cultures value diversity, inclusivity, open communication, encourage collaboration, and have higher rates of employee satisfaction. They also ensure employees don’t feel like they don’t matter or are replaceable.
Positive company culture is one of the most critical employee engagement strategies because it helps employees feel more connected to their work, team, and the company’s mission.
Promote Employee Well-Being
Workplace initiatives, such as wellness programs, flexible working arrangements, health screenings, and mental health resources show employees that their well-being is a priority. In addition, a more positive environment that rewards employees who perform well can help reduce burnout and anxiety. When they feel supported and cared for, they are more likely to be motivated and engaged at work.
Provide Growth Opportunities
Providing growth opportunities is one of the key employee engagement best practices. When employees see a future for themselves within their company, they are more likely to stay engaged and motivated. Invest in employee training and development opportunities to inspire them to learn new skills, take on challenges, and progress in their careers.
Foster Meaningful Relationships
Strong relationships among team members create a more supportive and collaborative work environment. When employees feel personally connected to their colleagues, they are more likely to be engaged and more committed and loyal to their work and team.
Recognize and Reward Employee Contributions
Rewarding employee contributions is among the top employee engagement best practices. Acknowledging splendid work also boosts morale, increases confidence, and encourages employees to perform their best.
Employee Engagement Examples.
Here are some tangible actions to boost employee engagement within your organization.
Conduct a Survey
An anonymous employee survey helps you gauge your baseline. You can structure the survey with a rating scale, open-ended questions, or multiple-choice questions. Consider topics such as employee and management interaction and overall company mission. The survey results will help you identify areas that require the biggest boost.
Pay Employees to Volunteer
Paying employees to volunteer shows them that your company has a greater purpose beyond its bottom line and is making a positive contribution to society. Choose nonprofit organizations that align with your company’s mission and area of focus such as homelessness, books for underserved kids, or veterans.
Create a Mentoring Program
Mentorship supports employees as they progress in their careers by supporting them so they can identify their goals and overcome challenges. They also provide guidance and are particularly beneficial for underrepresented groups. A study from the University of California Haas School of Business found that mentoring programs are especially important for young women.
To design a mentoring program, create a clear structure that addresses key components such as how long it will last and how mentees will connect with and pair with their mentors. Lastly, provide an opportunity for mentors and mentees to give insight into their experience.
The Bottom Line: How to Use Employee Engagement to Increase Motivation.
Business leaders must prioritize employee well-being, foster positive company culture, provide development opportunities, foster meaningful relationships, and recognize and reward employee contributions. By implementing these strategies, leaders can create a more engaging and supportive workplace, ultimately improving employee retention, productivity, and overall enterprise success.
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