Blog Tag: HR Consulting
Attracting and retaining good employees in today’s tight labor market can be a challenge. While competitive pay and good benefits are important, job seekers want the total package. They are looking for the ideal work environment – which includes work-life effectiveness. Total rewards strategies have traditionally focused on compensation and benefits, but it’s time for a change. Employees have expressed a desire for a healthy balance between their professional and personal lives, and that’s only possible through you – their employer.
Today’s competitive job market has been amplified by the nearly 10,000 Baby Boomers retiring daily.¹ Couple that with a record low 3.9% national unemployment rate and it’s not surprising
that applicant pools are looking rather thin. As the demand for qualified candidates increases, developing a strategic recruitment process is imperative.
Employees often feel pressure to minimize corporate travel costs. In an effort to save company dollars, many are turning to sharing economy services (such as Uber, Lyft and Airbnb). These collaborative consumption models allow peers to share their resources and time. They offer convenience and an average savings of 30% to 40% when compared to traditional hotel and cab services. Many people are using these options for personal travel, so it makes sense that they’d want to use them for business or corporate travel.
Now is the time to rethink your approach if your organization has not transitioned from a traditional compensation and benefits plan to a total rewards strategy. Historically low unemployment rates continue to create a competitive labor market, and the talent pool is rapidly changing as baby boomers retire and millennials join the workforce. In response to this staffing environment, employers are beginning to modify their total rewards strategies and offer things like chef-prepared meals, yoga classes, massages, student loan repayment programs, unlimited paid time off (PTO) and sabbaticals.
What makes your company stand out from its competitors? Twenty years ago you might have said that technology gave your team a competitive edge, but in today’s environment, technology is a common (and typically necessary) commodity that simply helps maintain the status quo. So where are companies regaining that lost advantage? The answer can be found in an organization’s human capital.
Warning Sirens Echo as Harassment in the Workplace Rises
Harassment, like a natural disaster, can wreak havoc on any community or business. This year we had several devastating hurricanes make landfall and more workplace harassment scandals than we can count. Media coverage on harassment has recently exploded; however, harassment in the workplace is not a new issue. Organizations have been working toward harassment-free workplaces for years by taking action against individuals who violate company guidelines.
Is Your HR Function Changing with It?
For years we’ve known that millennials would eventually make up the majority of the workforce. In April 2016, millennials surpassed baby boomers as the largest living generation. The Pew Research Center defines millennials as individuals born between 1981 and 1997 (or those who are presently between 20 and 36 years of age).¹ As the makeup of the workforce shifts, so do employee needs.
When onboarding new employees, we often rush through the paperwork so employees can get started with training and on to performing their jobs. They are often handed stacks of paper that include requests for basic demographic information, W-4s and benefit enrollment forms. However, one of the most important forms that new employees need to complete is Form I-9. This form is used for verifying the identity and employment authorization of individuals hired in the United States. A revised version of Form I-9 has been released. Here Is What You Need to Know!
I’ve always been intrigued by work-life research, especially now as the work-life interface changes in response to increased demands and expectations, as well as new ways of working. Work-life research evolved from studies on person-environment fit and work-family. Person-environment fit focuses on outcomes that result from the interaction between employees and some aspect of their work environment, whereas work-family research focuses on outcomes that result from the interaction between the work and family domains. Many researchers have moved away from the term work-family to work-life in order to include all employees and not just those with children. These studies have established some compelling links between work-life fit and employee satisfaction, so it is important for employers to know what work-life fit actually is and how to achieve it.
Compensation is one of the most important (and sometimes most controversial) human capital efforts of any company. Your compensation strategy will have a large impact on the bottom line, but a smart one can bring a huge return on investment. A strong approach to compensation will prove its worth by bringing you great employees and incentivizing the ones you have to perform at their best.