Tagged: employee retention

Are Millennials Your Most Important Employee Engagement Metric?

The millennial influence on the workplace has been beaten to death. Even still, the millennial workforce remains a much-talked-about and, in many circles, much-maligned subject across the web. And as accurate as stereotypes about millennial entitlement may be, they dramatically minimize the value young talent can bring to an organization. HR should take note – one of the areas millennial employees can offer the most benefit is in employee engagement.

David Lee recently explored this topic in an article for Talent Management and HR. Employee disengagement is often a silent killer for employers – many often don’t know they have an employee engagement problem until they see productivity levels plummet or the revolving door of turnover keeps spinning. This is where millennials come in because, as Lee puts it:

“If you suck as an employer, your millennials will let you know.”

Trust Your Employee Engagement Canaries

Two of the biggest knocks on millennial employees are that they’re whiners and, when the job gets tough, they’re quitters. But could all this whining and quitting actually provide valuable insight to HR?

Employee feedback and behavior (millennial or otherwise) can help employers identify common employee engagement killers like…

  • Boring or unwelcoming orientation and onboarding processes
  • Generic employee surveys
  • Failing to recognize employees who go the extra mile
  • Neglecting to get employee inputs during times of change or difficulty

Read the full article from Talent Management and HR to learn why else millennials could be HR’s employee engagement savior.

The Top Four Warning Signs of Employee Turnover

 

Employee turnover is as costly and damaging as it is inevitable. HR teams have spent generations trying to curb it, and, sadly, today they’re no closer to finding a sure-fire remedy. While organizations may lack a catch-all solution for employee turnover, many have made leaps and bounds when it comes to understanding why employees leave. And understanding the problem is the first step to addressing it.

In order to help organizations cultivate this understanding, Quantum Workplace just released “Top 5 Predictors of Employee Turnover.” The report is a compilation of survey data gathered from over 97,000 professionals and sheds light on just how subtle and nuanced employee turnover predictors can be.

Turnover-focused employers and HR specialists may want to glance over Quantum’s top five…

 1. Lack of Job Satisfaction

Okay – this seems like a no-brainer. But are the symptoms of job dissatisfaction always easy to spot?

2.  Unmet Individual Needs

The challenge for HR: Identifying which needs have the greatest impact on an employee’s willingness to stick with their job.

3. Poor Team Dynamics

This is one of the most challenging predictors to monitor and counteract, especially in large organizations where leadership is delegated and departments are fragmented.

4. Wrong Organization

Sometimes it’s just not the right fit between employee and employer. Which means it’s all the more important that HR understands why certain employees don’t align with the organization.

Explore Quantum’s full report to learn more about the top five turnover predictors and, most importantly, get tips for stopping employee turnover in its tracks.

See You at the 2017 Total Rewards Conference


If you want to learn more about the current tech-savvy workforce and how to attract them to your organization meet up with us at “On Their Terms: Engaging Millennials (and Your Entire Workforce)” at the #WorldatWork 2017 Total Rewards Conference in #WashingtonDC. See you there!

On Their Terms: Engaging Millennials (and Your Entire Workforce) – Tuesday, May 9, 9:45 AM

Session Leaders:

  • Amy Stern, Director of Employee Engagement Research, BI Worldwide
  • Christy Thompson, Vice President of Humans, Sunglass Hut

The Benefits of Personalizing Total Rewards Statements

No one wants to feel like a number. In fact, people are evaluating their careers and overall job satisfaction by a new set of metrics. This is especially true of up-and-coming generations. Employers are facing a paradox: how can they create a unique and personalized employee experience while also making it scalable and affordable to manage? To solve this unique challenge, many employers are turning to the power of a personalized total rewards statement.

As the demographic of today’s workforce continues to change, new motivators affect how a company attracts employees. In addition, the appeal of the nomadic gig economy poses a serious threat for companies trying to retain top performers who value the freedom of a freelance lifestyle. Despite these fundamental changes in the job market, a study conducted by MetLife finds that customized total rewards statements are a useful tool in both attracting and retaining employees in today’s job-seeker market.

Personalization Matters to the Team

In the past, total rewards statements were a once-a-year occurrence. With the rise in “on-demand” everything from banking to shopping, people have become accustomed to being able to login and manage their lives via a customizable, online system. Employees value the ability to check their total rewards statements anytime, anywhere. Providing access to personalized statements whenever needed serves a dual purpose: it provides an opportunity to deliver a personalized experience that employees have come to expect and it allows employees to validate their value within an organization on-demand.

Competing for Talent in an Employee Market

There’s little doubt that today’s job market is driven by the job-seeker. As candidates grow more sophisticated with the way they receive information, attracting today’s tech-savvy candidates requires understanding their motivators and appealing to them. Similar to static total rewards statements, job offer letters have become forgettable. Today’s candidates want to feel great about a possible job offer. They want to feel like they’re working for a forward-thinking company that truly cares about employees as people, instead of cogs in a machine. Offering customized, digital job offers complete with a flushed-out compensation statement can be an essential component to establishing an attractive company culture, increasing the chances of landing top talent.

Whether your challenge is employee retention or it’s attracting talented job candidates for hard-to-fill positions, it’s possible that the level of personalization in a total rewards statement can make a huge impact on how your company is portrayed in the minds of today’s on-demand, tech-savvy workforce.

See You at the 2017 Total Rewards Conference


If you want to learn more about the current tech-savvy workforce and how to attract them to your organization meet up with us at “On Their Terms: Engaging Millennials (and Your Entire Workforce)” at the #WorldatWork 2017 Total Rewards Conference in #WashingtonDC. See you there!

On Their Terms: Engaging Millennials (and Your Entire Workforce) – Tuesday, May 9, 9:45 AM

Session Leaders:

  • Amy Stern, Director of Employee Engagement Research, BI Worldwide
  • Christy Thompson, Vice President of Humans, Sunglass Hut