Tagged: human resources

How can Human Resources Motivate Employees?

For generations, HR Departments have debated the best way to motivate employees.  Here are some motivational tips from effective business people to help your Human Resources Department motivate your employees:

  1. Incentivize

Building an effective incentive structure gives your employees a motivated perspective towards completing daily tasks. TotalRewards has found that compensating the execution of specific objectives allows employees to become driven to do their job better. Finding what inspires employees to focus on their assignments will help motivate employees to accomplish their particular duties.

  1. Give Employees Your Trust

Let employees know you trust and rely on them, and they will perform at a higher level than you might suspect. A vote of certainty can go far. Tell them you believe they can do the ideal activity, and they will seldom disappoint you.

  1. Set Smaller Weekly Goals

Every good employee needs grand aspirations, however, setting up more attainable objectives in route to the final goal keeps individuals motivated. Breaking down a project into smaller, more digestible bites allows your employees to understand what they need to accomplish for each day, week, and month rather than a full year’s worth of work. At that point, compensate the group for achieving the objective with an evening off, a celebration, or something else that they enjoy. They will see that your goals are practical, and everybody profits by buckling down.

  1. Give Your Employees Purpose

Always be ready to inspire your workers by giving them a reason to succeed. When you achieve that, they comprehend the vision better and can feel more confident in being able to execute their goals. What’s more, by understanding their motivation and the reason for the business’ goals, a participant can see how they fit into the master plan.

  1. Transmit Positivity

Spread positivity among your entire staff to motivate them and build an enthusiastic culture.  A work environment that’s full of negativity can quickly create a toxic situation and lead to unmotivated employees and ultimately, your business’ demise. In a friendly work environment, employees feel comfortable and work more attentively and efficiently.

  1. Rouse Individuals Rather Than the Team

Adjusting motivated forces is an excellent approach to guaranteeing everybody in a group is moving in the direction of a shared objective. When every individual feels confident and inspired to work, collectively they are unstoppable. This method enables you to encourage the group to achieve astounding things.

Core HR Software Market Expands

A new report from MarketsandMarkets states that the core HR software market is expected to expand from $6.47 billion in 2017 to $9.89 billion by 2022. Additionally, the market is expected to grow at a compound annual rate of 8.8 percent per year during this period. This includes core HR software across all components, deployment types and organization sizes.

The report states North America stands to be the largest region in terms of global market share due to a rising demand for cloud deployment and increases in the automation of HR processes. What’s more, North American businesses are leading the pack in terms of differentiated, customized and flexible products that meet the needs of HR professionals.

The largest contributor to the predicted market growth in America is governmental agencies. Because of the large pool of employees working for the US government, it is the most likely to adopt core HR software. However, it’s important to note that outdated infrastructures will be the biggest disadvantage for the US government in integrating new systems.

Another important takeaway from the study is that SMEs are expected to grow at that highest compound annual rate. Businesses with 100 to 1,000 employees are highly expected to deal with a resource shortage during this period, thus requiring better HR software to solve cost efficiency challenges.

This expected growth for core HR software is good news for HR software vendors of all sizes. It’s important to keep in mind that innovative HR software with customizable features will find the largest purchase with American businesses. The continued adoption of smartphone and cloud platforms means core HR software needs to compliment BYOD and cloud-centric networks. Want to explore the implication of this report in detail? Read the full report from MarketsandMarkets here.

Two-Page Total Comp Statements Lead to Record-Setting Retention Numbers for One TotalRewards Customer

employee-retention

Snapshot

Austin Materials is an asphalt supplier and paving company based out of Austin, Texas. Despite their reputation as a premier construction company in the state, Austin Materials is not immune to the industry’s high turnover rates and the challenges of managing a large, extremely diverse and often multi-national workforce. These trends make finding ways to increase employee retention and reduce turnover costs an ongoing priority for Austin’s HR team, which is why they’ve recently focused on overhauling their total compensation statements to be more compelling and easy to digest. The process of seeking out a partner and a solution to assist in a ground-up total compensation statement transformation has led Austin Materials to TotalRewards Software.

Challenges

  1. Developing compelling, easy-to-consume total compensation statements tailored to a large, diverse workforce
  2. Adopting an entirely new platform and process for creating, delivering and managing total compensation statements

Large, Diverse Workforce

The first challenge in re-approaching Austin Materials’ total compensation statements is their large, multi-national workforce. According to Austin’s HR manager, Matthew Green, showing employees the full value of their total compensation has always been priority number one at the company, but Austin’s distributed workforce consisting of multi-national employees presents unique obstacles to creating effective total compensation statements on a large scale.

“We needed the ability to have everything tailor-made based on our specific needs. We are in the construction industry, so we wanted to keep our information solid, clean and easy to understand,” says Green.

Ground Zero Technology Adoption

On top of mass-producing custom, universally-consumable total comp statements, Green and his HR team has had to adopt and become proficient with an entirely new total compensation statement software quickly. Because TotalRewards Builder is the first technology of its type ever used at Austin, Green and his staff require a highly configurable, user-friendly solution. They also require the ability to learn and troubleshoot elements of the system on the fly, which makes having access to a dedicated technical support resource a must for Green.

Results

TotalRewards Builder’s custom two-page total comp statements have greatly impacted Austin employees’ understanding and awareness of the full value of their total compensation package. The platform’s ability to easily customize statements and create visually compelling compensation graphs, including “Time Off” and “Other Cash Compensation” modules, is a major hit among the company’s diverse employee base.

After adopting the platform, Green has seen an immediate decline in voluntary terminations, and the Austin leadership team has noticed sizable savings in turnover costs. Future ROI projections for TotalRewards Builder convince Green the organization has made the right investment in total compensation software.

“The cost of the (TotalRewards Builder) program compared to even a 3% reduction in employees prevented from leaving would be a huge cost savings for us,” notes Green.

In addition to the hard savings of using TotalRewards Builder’s statements, Austin has experienced a number of soft benefits from working with the TotalRewards team. Green says having a dedicated, knowledgeable support resource has been extremely beneficial, helping his HR staff become adept at using the software and navigate initial hurdles like uploading Excel sheet data and identifying ways to best use the platform in service of Austin’s unique employees and business goals.

“They understand the software and help you really utilize every component,” Green says of the TotalRewards team.

Success at a Glance

  • On pace for 3% increase in employee retention
  • Expecting record-setting savings in turnover costs
  • Accelerated onboarding and adoption of TotalRewards Builder platform

The Austin Materials-TotalRewards Software engagement is an example of how small shifts to how companies manage and communicate total compensation can have a massive organizational impact. In the case of Austin, newfound total compensation awareness, decreased retention and higher savings came from creating simpler, more compelling and easy-to-consume total compensation statements.

Interested in creating your own custom two-page total compensation statement? Start a free trial of TotalRewards Builder today.