20 Mar 2017
At HRbuilders we are committed to connecting great HR people, providing you with valuable curated content and helping you as an HR professional to stay ahead of the curve. It is also our mission to shake things up in the in the sector of Human Resources and to look into the new ways of working in gamechanging companies in Belgium and abroad.
In this week’s edition of #ConnectWithContent, it’s all about the people as we zoom into the different ways people are moving through (up, down, laterally and diagonally) and out of organizations and why circling back can also be a win for everyone.
Are your employees looking for new jobs?
Chances are the answer is “yes.” Studies show that around 40 percent of workers are planning to look for a new job within the next six months, and 69 percent say they’re already passively looking. Concerns over speedier job-hopping are now at a fever pitch. By recent estimates, nearly half of employees could leave their jobs by the end of 2017. With all this leaving, companies are scrambling to find (new) ways to hang onto the talent they’ve already hired for as long as they possibly can.
The first article focusses on how to keep your employees. The author of the second article challenges you to look at the bigger picture and claims that helping your best employees quit is a good thing. The third article introduces the wins of boomerang employees for the employee and for the organization. Enjoy the read and feel free to share or add your comments.
5 ways to keep your employees
Losing an employee whom you thought was happy might take an emotional toll, lower productivity, create a cost for hiring and training a new employee, and slow down productivity levels until the new employee gets up to speed are all financial drains. No wonder all organizations want their best workers to stay. Today’s workforce desires more non-monetary satisfaction from the workplace, such as a positive, supportive work culture, opportunities for job growth and advancement, transparency and job flexibility.
Underpinning each factor is the need for a solid, supportive relationship between managers and their team. Here are five ways to invest in healthy employee relationships and retain your valued employees:
- Share responsibility: show your employees you trust them by giving them responsibilities that allow them to grow, and encourage them to gain new skills.
- Show respect: employees want to know they are respected and appreciated. By showing respect, you will help your employees develop confidence in their skills, which will encourage greater productivity and enthusiasm for accepting new challenges.
- Incorporate revenue sharing: if you want to show genuine appreciation for your employees, put your money where your mouth is.
- Offer rewards: the rewards you give your employees should speak to their emotional needs and go beyond their monetary compensation.
- Allow for relaxation time: be generous with time off.
It is important to remember that a long-term commitment requires effort in both directions. By encouraging added responsibility in a respectful environment, offering personalized incentives and rewards based on performance, and instituting moments to relax and recharge, you can help employees feel a renewed loyalty and commitment to your company that will give them great reasons to stay.
Why it’s a good thing to start helping your Best Employees Quit
Traditionally, employee retention—the ability to keep staff—is considered a telltale sign of a company’s health. What if focussing blindly on retention makes you miss the bigger picture? The metric we should be tracking, according to Hootsuite’s CEO’s is what he calls “people movement,” and according to him it’s the oxygen pulsing through a business. Hootsuite sits down with every employee who’s stayed for three years to plan their career options, convinced that moving people out of their job is just as important as keeping people in them. Hootsuite, even made it a company-wide goal–right alongside revenue targets—to ensure that 20% of their employees, aren’t in the same seat by the end of 2017. It’s an open declaration to managers and staff alike that shifting roles is part of our culture and something to be encouraged, not avoided. “You shouldn’t have to ‘do your time’ in order to prove you’re ready because the world is now moving too fast for this model”, he states.
At Hootsuite an open people-movement policy is a boon: the chance to learn new skills quickly, expanding their professional toolkit and building a stronger resume. That way talented people who enter the company with one skill set are able to level up and acquire expertise in a whole new area. The result is happier, more fulfilled employees who stay with the company but don’t necessarily stay put.
For the business, lateral movement is a powerful way to break down corporate silos and diffuse institutional know-how. Plus, the reality that employees are continually on the move obliges a company to hire smarter and to train faster, maximising return in a shorter time span. People movement is also a powerful way to sustain startup energy as a company scales. Ultimately, that leads to better recruitment and (yes) better retention anyway–the exact goals that keep all HR teams up at night. In this article you learn how to actually pull off this switch in approach because this requires a clear shift in perspective and reimagining the manager as a mentor, champion and educator.
It’s not a sign that employees don’t want to work with you; it’s a sign that you’ve done an exceptional job. They’re graduating, not leaving.
The goal is not to fast-track promotions, which only will bloat management and inflate budgets. Instead, it relies on employees actively stretching to brand-new roles, often in different departments. Both informal and formal initiatives are key: Friday afternoons get togethers and #randomcoffee to get people outside their departmental bubbles (informal) and the stretch program which gives team member a more formal way to try on roles in another department.
Open the Door to Your Boomerang Staf
According to the chief people officer at Kronos, there’s a changing mindset about boomerang employees, people who left an organization, for whatever reason, and then rejoined that same organization at a future date. In this article, based on a study by the workforce institute, four flavors of boomerang employees are identified:
- Those who left to further their career because they saw an opportunity to add new skills and progress and then come back at a higher level and higher pay, he says.
- Those with a career itch to scratch and found things not working out as they had expected so they circle back and reach out to their former boss.
- Those with a life event that forced them to leave: a spouse relocated, time off to take care of sick parent and then come back with more flexibility or working remotely.
- Those who boomerang on purpose: see you next year workers, this kind of periodic planned boomerangs are increasingly popular.
Boomerang hiring makes perfect sense: sending a resume blindly out to job postings where you have no connection to the employer is often frustrating with faceless hiring managers and computer program scanners.
Employers prefer hiring people they know, it’s less risky and the employee also knows what he’s getting into so it removes the fear of the unknown.
Joining employer alumni groups on LinkedIn and Facebook, keeping an eye on former employer job postings, not shying away from reaching out to a former manager, making graceful exits without burning bridges, networking are key.
HRbuilders -Established in 2008 with HQ in Belgium - is active in HR Interim Management/ HR Consultancy assignments in Europe. Our niche as a matchmaker is 1. HR (only) 2. Temporary (only) and 3. Freelancers (only). No headhunting, no other HR services, we focus on what we are great at! We offer our clients peace of mind where-ever they might need a temporary HR support. In average our assignments are 1 year or longer.