Anyone can perform a task at work knowing the end result is a salary. However, passion and hard work often stems from affirmations employees hear from their boss or manager. Workers don’t just crave a paycheck — they want recognition, verbal appreciation and encouragement. Of course, it’s easy to say “thank you” or “good job” and be done with it; but there are countless ways to show your support and respect for your employees. Business News Daily asked business owners and experts to share the best ways to make your employees feel more appreciated. 1. Let employees reward one another. “[Put] the power of recognition and reward in their hands. I use apps and programs like YouEarnedIt to give my employees the power to give each other kudos for good work done. I let my team members choose their reward, too, because not everyone wants a cash bonus or a gift card.”
2. Offer employees a platform. “It could be done as a request to share. When we let people know we value what they have to offer by asking if they’d share their story, tips, methods, etc. with others, it provides validation to them that they do have something of
If you want to know whether your CEO is going to jump ship when times get tough, look at what kind of relationships they have with other professionals, new research suggests. A study recently published in the Strategic Management Journal found that a CEO’s decision to voluntarily leave a company when it starts to fail is driven by the executive’s social capital – the personal relationships they have with business colleagues and key external stakeholders. The researchers found that executives who have strong social capital as well as those who have poor social ties with business colleagues are the least likely to quit when their organizations start to suffer. It’s those right in the middle who are the least likely to stick around and ride out the ship when times get rough.
Han Jiang, the study’s lead researcher and an assistant professor at the University of Arizona, said a CEO’s decision to stay or go is ultimately a cost-benefit dilemma. He said when a company fails, an executive’s reputation could suffer dramatically, which could prompt them to leave before things get too bad. On the other hand, if they leave, they risk losing out on access to valuable company resources and
Company culture makes a difference for employees, which means hiring and retaining talent that effectively meets goals. If a company is leading with fear and lack of self-awareness, the company is more likely to have a high turnover. “If your organization doesn’t have a healthy culture, then two things can happen. First, the workplace environment can be unpleasant and friction-filled, which ultimately may lead to attrition by your best employees,” said Ken Staut, founder and CEO of GrowthFountain, an equity crowdfunding platform. “And second, your organization won’t reach its full potential, because not everybody within your organization shares the same values or buys into the company mission.” “People won’t stay [at the company],” said Lior Rachmany, CEO and founder of Brooklyn-based, Dumbo Moving + Storage. “If people feel overly watched or that they will get shouted out if they make a mistake, they will leave your company as soon as they can.”
That attitude comes at a price. It’s costly to replace employees. According to a CAP study, to replace an employee who earns $30,000 to $50,000 a year, it will cost a company 20 percent of that employee’s annual salary. For example, to replace an employee who makes $50,000 annually, it would
The H-1B visa program, which offers 85,000 visas each year to foreign skilled or specialty workers, is undergoing some changes. The program, which grants certain employers access to foreign labor when the necessary skills are not available within the U.S. workforce, is facing three major changes initiated by the executive branch to clamp down on perceived abuses. On March 31, the U.S. Customs and Immigration Services (USCIS) announced that computer programmers, typically considered the lowest qualifying position for the H-1B program, would have to demonstrate that they’ve attained at least a bachelor’s degree in their field; associate’s degrees would no longer be considered acceptable. As a follow-up to this change, the USCIS announced on April 3 that “H-1B dependent employers” (companies with a workforce composition of at least 15 percent H-1B visa holders) would be subject to more stringent screenings to ensure compliance with the law.
“This identifies heavy users of H-1B visas,” Dick Burke, CEO of Envoy Global, told Business News Daily. “What (USCIS) is saying is, ‘When we make site visits for compliance, we are going to focus on H-1B dependent companies or those with a high percentage of workers working off site … in a consulting capacity.'” Then,
As the economy improves and more job opportunities appear, workers are growing increasingly restless. According to research conducted by ADP, more than 1 in 4 people change jobs annually – an unprecedented frequency of job switching. Moreover, ADP found that 63 percent of the average employer’s workforce is open to leaving for a new job at any time, and 46 percent would leave for a job that paid the same or less than their current position. So, how can employers find and retain top talent? Sreeni Kutam, division vice president of major account services at ADP, said the findings boil down to two philosophies in conflict with one another: “me vs. we.” Employees, he said, often take the “me” perspective, asking themselves how much they can make, how they can advance and whether they’re satisfied. Employers, on the other hand, naturally take a bird’s-eye view of the organization, concerning themselves more with financial performance and overall organizational health.
“The question becomes due to the external factors – economic improvement, unemployment going down – would that tension be elevated to unprecedented levels?” Kutam said. “And we are seeing that in the marketplace.” That’s certainly alarming news for any employer who wants to
Two trends remaking the American economy are the growth of freelancers and independent contractors – the so-called gig economy – and an expansion of automated processes. But how do the two intersect? What impact will the breakneck pace of automation have on temporary workers in the gig economy? Morag Brand, a freelancer and certified automation expert, said automation and short-term contract work are a natural pair, and that the gig economy can expect a boost in activity as a result of more businesses employing automation-focused technologies. “Automation has to start somewhere, and that’s right at the initial concept stage … but it has to be set up by someone, and this is where freelancers enter the scene,” Brand told Business News Daily. “So, yes, freelancers and contract workers should expect more work as automation expands, but it will be short bursts of ‘set up and move on,’ rather than the traditional retainer model of old. This is also cost-effective for the business owner too.”
Cristina Escalante, COO of the web and app development company The SilverLogic, said the gig economy has grown exponentially with automation technology, which paved the way for the Ubers and Airbnbs of the world.
“The gig economy was
With college graduation just around the corner, the job market is about to be flooded with entry-level talent looking for full-time jobs and internships. For employers, taking advantage of the influx of newly minted professionals can be as simple as having a good campus recruiting strategy in place. “College recruiting is a smart, predictable, scalable way to bring talent into any organization,” said Tey Scott, director of talent acquisition at LinkedIn. “Smart companies know they need to invest in early-in-career talent to compete in the long term. In tech in particular, getting early-in-career technical talent in the door may be the difference between being able to scale their company fast enough to deliver on product road maps or not.” The college career fair is the traditional method of on-campus recruiting, but based on LinkedIn’s success, Scott recommends implementing out-of-the-box initiatives that provide value on campus while also getting in front of targeted recruits.
“The question we asked ourselves was, what would it take to identify nearly all early-in-career talent without having to rely on physical on-campus events?” she said. “To
According to the report, job seekers frequently research details about on-the-job lifestyle factors, including benefits and schedule flexibility as well as the type of work that will be expected of them if hired. The most important criteria, however, is compensation. Currently, 44 percent of candidates know compensation details about a position before applying, and this level of transparency is only increasing. “Easy access to information has changed the way individuals find jobs and jobs find individuals,” said Jim McCoy, vice president and global practice leader at ManpowerGroup Solutions. “As organizations across the globe continue to report difficulties filling roles, understanding candidate preferences is critical.” ManpowerGroup Solutions offers the following advice for employers and hiring managers to help with recruiting efforts. Reach the right talent where they are Understand that candidates are gleaning much of their information from your company’s website, so it’s important to prioritize the creation of content that is both brand relevant and high quality. Be open to new conversations and new ways of having them You must be willing to be fully transparent with today’s information-hungry candidates – especially related to compensation. Monitor the buzz Monitor conversations about your company on social media and career sites like
Similar to athletes in the pool or on the track, employees need to pace themselves in the office in order to avoid burning out, new research suggests. The study from researchers at the University of Virginia and Chinese Academy of Sciences developed a model for how employees should best distribute their efforts during the day to prevent fatigue. Previous research has found that fatigue not only makes work more unpleasant, but it results in decreased productivity. When developing the model, the researchers found that employees are best served by following one of two patterns, depending on the type of job they have.
This pattern is similar to the strategy that Olympic swimmers and runners often use. The study’s authors said these athletes typically try to lower their burn rate after getting off to a strong start so they have some energy left in their tank for a strong finish. Some jobs, however, require employees to always perform at maximum intensity. This may include workers who operate machinery or provide customer service. In this “all-or-none” scenario, the researchers say the best pattern for employees to follow is to begin and end the day with “on” periods, but take breaks during the day.
Getting your new hires started off on the right foot requires more than just offering them a quick tour of the office and sending them on their way. Giving employees the best chance at future success requires a successful and thorough onboarding program, according to new research from CareerBuilder. Unfortunately, a number of employers aren’t taking those steps. The study found that 36 percent of organizations do not have a structured onboarding process in place. Not having any process in place can cause a number of negative consequences for both the employee and employer. Specifically, 16 percent of HR managers said it lowers their company’s productivity, 14 percent said it brings on greater inefficiencies and 12 percent said it leads to higher employee turnover.
Lower employee morale, lower levels of employee engagement, lower confidence among employees, a lack of trust within the organization and missed revenue targets are among the other negative impacts of not having a thorough onboarding program. “While onboarding is a critical component of setting new employees up for success from day one, this study shows some companies are neglecting fundamentals in the onboarding process – and running into serious consequences that can impact the bottom line,” Rosemary