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The Rise of Analytics in HR

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Back in 2017, in Deloitte’s Human Capital Trends report, it has been revealed that people analytics was a top trend and a top priority for every respectable organisation. 71% of companies that were surveyed for the report have stated that people analytics is of great priority.

It has become more and more evident that data analytics in HR have become to matter more than ever before. Although people skills remain a top priority for every HR manager, there are numerous companies and non-profit organisations that are using data and are calculating everything from talent acquisition and productivity to retention and job structure. This shift towards data and analytics is saving businesses tremendous amounts of money.

Furthermore, the data which is being collected is being used by analytics experts and HR managers alike to study and learn more about employee behaviour, overtime patterns, how people relate with each other in the workplace, time management – all of this to better understand their workforce and how to boost the company’s performance and production.

Oracle is another company that has been doing its very own global survey in order to better grasp where HR is in terms of analytical functionality within an organisation. Their findings have revealed that HR departments are one of the most analytical in various companies, and it’s even pulling ahead a bit in relation to the Finance department. Some HR departments are actually using the latest technology in predictive and prescriptive models and, in some specific cases, artificial intelligence.

This is an enormous shift from ten years ago when studies began to arise in talent analytics. At that time, the only player that was using sophisticated HR analytics was Google. Back in those days, there was a ‘normal’ amount of reporting that was happening, but there wasn’t anyone designated to predict. A minority of HR organisations even had an analytics employee. To better put things into perspective, ‘HR analytics’ was typically understood as a conversation about the total number of employees the company had and how to better measure the employees’ level of engagement.

Even before the surveys from Deloitte or Oracle came out, there was a definite shift in trends in today’s modern organisation. Most multinational corporations have a few employees, specifically, to just analyse data. Nowadays, there are various conferences around the world tailored to this specific topic. Organisations now alter or adapt the way they do business in order to shape growth, engagement and other variables which are considered key.

The aforementioned Oracle survey involved 1,510 respondents from 5 continents and 23 countries. Through these respondents, there were senior managers, vice-presidents and directors from HR (61%), 28% from Finance and 10% from general management. It is also important to know that all executives that have participated were from businesses with at least 100 million dollars in revenue. The detailed statistics are as follows:

  • 51% of HR respondents could perform predictive or prescriptive analytics, by contrast only 37% of Finance respondents could tackle these advanced forms of analytics.
  • 89% were in agreement with the statement “My HR function is highly skilled at using data to determine future workforce plans currently (e.g. talent needed),” and only 1% disagreed.
  • 94% of respondents agreed that “We are able to predict the likelihood of turnover in critical roles with a high degree of confidence currently.”
  • 94% also concurred that “We have accurate, real-time insight into our employees’ career development goals currently.”
  • When respondents answered this question “Which of the following analytics are you using?” “artificial intelligence” had the highest response rate, 31%. When asked to further explain how they used AI, the most common answer was “identifying at-risk talent through attrition modelling,” “predicting high-performing recruits,” and “sourcing best-fit candidates with resume analysis.”

So why is it that HR departments have become more ‘natural’ in their use of advanced analytics than Finance, which is theoretically work based around numbers? In most cases, this is because Finance organisations and the respective CFOs that have lead them found it extremely difficult to move from reporting and descriptive analytics towards advanced analytics that are being used nowadays.

The reason why Oracle has chosen to survey both the HR and Finance executives and managers is due to the simple fact that there has been a serious increase in their need to cooperate. Given the fact that most often than not employee expenditures represent a company’s highest costs and because an organisation’s financial position will always guide the size of the business, there is a clear need for symbiosis.  Fortunately, the Oracle survey has found that high levels of collaboration are already in place. In the same survey, it has been discovered that 82% of respondents agreed and strongly agreed, with only 5% of them disagreeing, that “Integrating HR and Finance data is a top priority for us this year.” However, not everything is pitch perfect. Numerous interviews conducted post-survey have brought to light the fact that there are many more opportunities to be seized further than sharing of data and cooperating on analytics.

In conclusion, it would be stretch to think that analytics will solve HR’s every problem, but they can definitely provide a deeper understanding of every department within an organisation, help train HR specialists into developing projects that can enhance talent investments whilst also monitoring and developing recruitment, engagement, development, retention, productivity and many more workplace activities.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://bovardcollege.usc.edu/hr-analytics-are-a-driving-force-in-recruitment-retention-and-productivity/

https://hbr.org/2019/04/is-hr-the-most-analytics-driven-function?ab=hero-subleft-2

https://lesley.edu/article/how-hr-analytics-are-changing-business

Leadership Crisis: What Can We Do About It (Study)

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56% of executives consider that the organisations they work for are not prepared to satisfy the needs of their most talented employees in regards to their leadership skills a Deloitte study has stated. Why does this happen? Where exactly is the problem and last, but not least, what can we do to fix this issue?

A recent Mercer study (2019), with a respondent base of over 500 people, has discovered some troubling new trends in terms of organizational leadership and trying to answer the aforementioned questions. Before getting into more details, here are a few key details from this respective study:

  • 27% of potential candidates are lost along the way due to a lack of a coherent selection methodology
  • 42% of organisations do not have a structured leadership competence system
  • 23% of organisations use the interview as the sole recruitment tool
  • In 63% of cases, traditional interviews fail in evaluating a candidate’s soft skills
  • In the case of succession plans, the rate of success in occupying managerial positions is 70-80% in comparison to 50-55% for those managers who are brought in outside the company for the same job position
  • 33% of organisations believe they are using the appropriate methods of measuring the quality of their hirings and only 5% believe that their methods are optimal
  • 23% of potential talents are rejected from the hiring or promotion process due to the company’s inability to identify the real performance indicators
  • 16% of organisations do not know what types of talents they need to hire for their leadership positions
  • 42% of organisations are not aware of the necessary competencies their own leaders require

A remarkable correlation has been uncovered by Mercer is that the success of leadership in organisations is directly proportional to the adoption of assessment tools.

 

leadership-assessment success ratio Great People Inside

 

What organisational practices does Mercer recommend in order for companies to develop their success in terms of leadership:

  • Develop a proper and well-structured competencies system, giving organisations the help they need in discovering the types of people they need in the organization and what types of talents they should hire in the future
  • Use assessment tools in order to properly measure the ability level of talents with the purpose of making decisions based on real facts, thus increasing the company’s chances of recruiting the right people
  • Prepare a proper internal succession plan with the help of which organisations can develop their own talents and prepare them for leadership roles
  • Incorporate leadership in hiring decisions in order to assure that the firm’s leaders share the same values, vision and the company’s mission statement
  • Develop your hiring process to be more effortless and short. Real talents won’t wait for too long!

How can Great People Inside help you?

 First of all, we are aware that the first step into improving the workforce is that of identifying the key aspects that differentiate your organisation from all the rest. Once you have accomplished this first step, you will know what are your key performance indicators, what to identify when assessing candidates and employees by developing a well-structured competence system.

Secondly, our platform is extremely simple to customise in order for it to meet the clients’ needs. We offer you the possibility of either choosing one of the available models we have in place or you can request the appropriate dimensions to match your specific needs, thus making your whole recruitment process a lot easier.

 

Two of the solutions Great People Inside has to offer, GR8 Full Spectrum and GR8 Managers, are optimal instruments which are validated scientifically in order to ensure leadership success within your organisation:

GR8 Full Spectrum – The ultimate tool for measuring employee performance, GR8 Full Spectrum assesses everything from behavioural characteristics to cognitive ability and occupational interests. With this instrument, you’ll be able to get a full overview of an employee’s potential, along with his or her match on a per-organisation and per-position level. The assessment also offers suggestions for future development, as well as the opportunity to create your own content.

GR8 Managers – As people entrusted with a high level of responsibility, it stands to reason that managers will greatly benefit from a thorough assessment of their personality and skills. Inspired by Jim Kouzes and Barry Posner’s work the GR8 Managers tool focuses on identifying management potential from several different perspectives. These include the three main managerial qualities of fairness, foresight and inspiration, as well as the ability to work with generation diversity and in a VUCA (volatile, uncertain, complex, and ambiguous) environment.

Source: Leadership Hiring Trends Report 2019 – Mercer

 

Compartmentalisation and its Benefits

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Compartmentalisation is an aspect which, whether we like it or not, applies to everything regarding our day to day lives. Given the fact that we are now connected to the whole wide world 24/7, it has become more important than ever to set boundaries and also respect them, which is, of course, no easy task. The obvious downside of not compartmentalizing and creating boundaries is that it inevitably leads to an ever-growing feeling of resentment over time. Sticking to your list is of the utmost importance.

Psychologically, compartmentalisation is seen as a defence or coping mechanism of the mind in order to protect itself which does not make it for a good read. In layman terms, our brains try to deal with various conflicting ideas at the same time. To put things into perspective, here a few examples: a person who lives the office in the evening and doesn’t want to think about work for the rest of the night because he wishes to enjoy some quality family time at game, a doctor who is religious and had to separate his or her beliefs in order to practice medicine at the highest standard or in even more extreme cases (because those exist too) soldiers who need to detach themselves from the traumatic events they have encountered in order for them to continue to operate in future battles.

In terms of coping strategies and exercises, they are mostly effective for a short period of time with both positive and negative aspects. It is beneficial for a person to compartmentalise, but you do not want to overdo it. To put things into perspective, the soldiers that have been mentioned above that are repressing their combat experiences, the moment they return to their normal lives back home, they experience numerous flashback episodes that are putting a huge strain on their mental health, especially in the cases of soldiers with Post-Traumatic Stress Disorder (PTSD) or Shell Shock as it was once known right after World War I.

As with every existing idea or suggestion, there are arguments and counter-arguments for carrying through with something or not. There is sufficient scientific data that leads to the idea of the multiple benefits of de-compartmentalisation. The theory in which people leave their personal lives in front of the office door sounds pretty amazing, in any way you like at it. However, in real life this actually means not bringing our entire personality and mentality to work. To be honest, a clear-cut delimitation between personal and professional is almost impossible for our minds to execute. Furthermore, social media is not helping anyone remaining 100% professional given the fact that most of us are connected on Facebook and/or Instagram with our colleagues.

Recent research has revealed a fact that always seemed as an added bonus at the office and that is to have workplace friendships, due to the simple fact that it leads to a significant increase in engagement, satisfaction and productivity. In 2014 survey where 716 working Americans were part of it, 71% of them loved their job given the fact that they had friends in the workforce, whilst only 24% of people surveyed enjoyed their job without having any friends.

To strengthen this point, in the New York Times bestseller ‘Wellbeing: The Five Essential Elements’ the author has said the following after analysing data gathered from Gallup studies from 150 countries: “Those who [have a best friend at work] are seven times more likely to be engaged in their jobs, are better at engaging customers, produce higher-quality work, have higher well-being, and are less likely to get injured on the job.”

Somehow, unsurprisingly, women have the ‘upper-hand’ in this matter, with 63% of office friendship being female-female. Furthermore, men also have fewer close friends outside of the office than women.

Learning to Compartmentalise

As stated above, compartmentalising requires isolating separate tasks in order for you to focus on each one exclusively.

The process of keeping work responsibilities and your personal life separate is definitely challenging, simply because this separation includes thoughts as well as actions. If, for example, you’re reading a bedtime story to your children in bed whilst also mentally composing an email for a client, you are creating a tremendous amount of stress and you will fail to offer your family the attention they deserve.
Compartmentalisation skills can be strengthened through the establishment of a time period that acts as a buffer between home and work life. If you commute, try to switch off by rewinding everything you did that day, plan ahead for the next day and realise that the work day is over. If home and family issues are the ones interfering with your work, use the same technique during the morning commute.

Prevent Multitasking

Even after you’ve established a strong mental separation between home and work, you can easily get distracted by the mere temptation of multitasking.

As compelling as multitasking is, it isn’t always the most effective way of operating. Some studies even have suggested that productivity falls up to 40% just by switching tasks.

If you’ve always been used to juggle numerous tasks at once, it can be fairly difficult to break that habit all of the sudden and change the way you work. Due to the fact that modern technology is one of the main factors of wanting to multitask, simply start by avoiding any type of screens you have while away from work.

One of the major distracting factors are social media apps like Facebook and Twitter. It would be wise to either turn off their notifications or installing apps that automatically block their activity during working hours.

Know and Understand Your Work

As vital as compartmentalisation is, there will be times when you will have to accept that you will need to multitask or that you cannot ignore external distractions. Usually, this is the case when there are major developments either positive or negative in one aspect of life or another.  If you manage to compartmentalise even 25% of your time, there will be a noticeable improvement in your work-life balance.

Just as the saying goes: ‘One thing at a time’, can be extremely useful even though it’s an old as time cliché.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.lifehack.org/789803/how-to-compartmentalize-time

https://www.inc.com/marissa-levin/focusing-on-whats-in-front-of-you-how-to-become-an-expert-at-compartmentalization.html

https://www.bustle.com/p/11-successful-women-on-how-they-compartmentalize-8380044

Networking Particularities of Men and Women

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In today’s world of the corporate ladder, it is obvious to anyone that networking is the key that ultimately leads to career advancements. For example, through your own networking you could be selected for projects and assignments that will lead in future to a promotion. However, women don’t really reap the benefits of this ‘system’ given the simple fact that they are less likely to get hired or promoted in manager roles (i.e. 79 women promoted to 100 men promoted according to a 2018 study done by McKinsey & Co. and LeanIn.org called Women in the Workplace).

When women seek a professional mentor, the study has revealed, that they usually look for someone they want to be friends with rather than someone they can learn from. Other studies have shown women aren’t getting the tough feedback they require in order to move ahead. The best mentors will always push, dare, and confront their mentees, and challenge them to take on assignments that will further their career.

However, men look to form professional partnerships. Men have no issue doing business with anyone, even though they don’t necessarily like that particular someone, as long as that individual can help them achieve their goals. Men understand that a working relationship can be annulled when it’s no longer beneficial. Women have the tendency to be suspicious when utilising their social ties whilst also overemphasising the moral aspects of networking.

We know that social networks are critical to professional advancement. We also know that men are more likely to rise to leadership positions.

Why the difference?

Because women seek positions on an executive level they often face numerous cultural and political obstacles than men normally do, they benefit from an inner circle of close female contacts that can share private information about things like an organisation’s attitudes toward female leaders, which helps strengthen women’s job search, interviewing, and negotiation strategies.  While men had inner circles in their networks too – contacts that they communicated with most – we found that the gender composition of males’ inner circles was not related to job placement.

The Power of Direct Placement

Winning a placement within executive leadership positions straight out of masters degrees benefit both men and women alike. Early-career women, especially, can use this route to sidestep longstanding labour-market challenges, including stereotyping and discrimination, which result in lower pay, lesser advancement opportunities, and a higher rate of dropping out of the labour market altogether.

But little is known about the links between graduate school and placement into these positions.  We wanted to understand whether one’s network enables MBAs to find the right opportunities, setting the stage for successful careers.

To connect features of social networks at school to job placement success, we analysed 4.5 million anonymised email correspondences among a subset of all 728 MBA graduates (74.5% men, 25.5% women) in the classes of 2006 and 2007 at a top U.S. business school. We measured job placement success by the level of authority and pay each graduate achieved after school.

Network Smarter, Not Harder

Studies suggest that women can benefit from taking a strategic approach to networking.

First, seek quality over quantity in your overall network. Keep in mind in this context, is less a function of how many people you know but who those people are.  Identifying and connecting with people who are connected to multiple networks is a key strategy.

Related to that point is the idea of embracing randomness. The more you associate with similar-minded or experienced people, the less likely you will be to diversify your network and inner circle. Because we tend to target actively when we network, we are prone to restrict targeting to people most like ourselves.

How do you break the pattern? Try random selection. We found that the random sorting of business-school students into sections, for example, raised the odds that female students will befriend those with experience and goals beyond their own, again expanding their knowledge and contacts in career-enhancing ways. Randomness democratizes the networking process, ultimately enhancing it.

Finally, beware a closed inner circle. When your inner circle is too interconnected—the people within it are similar and have similar contacts—it can feel socially secure but fail to generate key insights and opportunities. Workplace or industry affinity groups, for example, become closed structures in many cases. There’s nothing wrong with being part of such a group, but try to complement it with others representing more diverse experience and connections.

Employers, too, can aim to create more diverse small groups, to promote the development of women. Rather than creating just an affinity group of female coders, for example, populate a separate group with members from a cross-section of the organization that increase the chances of making unexpected connections, to better inform and support individuals.

Various studies also suggest that women face a greater challenge in networking to find professional opportunities – they, more than men, need to maintain both wide networks and informative inner circles in order to land the best positions. The good news is that by taking a smart approach, women can continue to find meaningful advancement possibilities while helping their peers and more junior contacts do the same.

Recent studies suggest women require a female-only inner circle in order to thrive and a larger well-connected networking system in regards to professional advancement. Men, on the other hand, do not do so well when engaging in a same-sex inner circle at all. All in all, it can be concluded that, for women, a networking system is simply not enough. It is clear that women have to network smarter and quite differently than men. It may sound exhausting, but it’s definitely worth it.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.wired.com/story/women-leadership-job-networking/

https://www.fastcompany.com/90277129/the-hidden-networking-gap-between-men-and-women

https://hbr.org/2019/02/research-men-and-women-need-different-kinds-of-networks-to-succeed

Top Challenges CEOs Face Nowadays

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In a series of interviews conducted with CEOs of large companies in the United Kingdom, it has been discovered that close to 50% of all chief executives have stated that the role was “not what I expected beforehand.” The goal of this series of interviews was to determine what are the current challenges and best practices that CEOs should take into consideration when they accept this role in businesses nowadays. Furthermore, what happens when an organisation loses a visionary CEO? Most likely, innovation disappears and the company drifts for years out of sheer momentum and brand awareness. Organisations that go through these changes inevitably suffer the consequences and they rarely reclaim their former glory.

The aforementioned interviews have also revealed that most newly appointed CEOs find the transition period particularly challenging, even those professionals who have years of experience in this role. They have also mentioned certain aspects that new CEOs should always take into account: a correct flow of information that goes within and outside the organisation, managing time and energy accordingly and institute a clear framework in managing relationships with the board and external shareholders.

Managing Time & Energy

Stuart Fletcher, former CEO of Bupa had this to say: “Being time-constrained is a given, but the key is managing your energy. I’m very conscious of where I divert and direct my energy, where I get my energy and what saps it.” As mentioned above, older and more experienced CEOs understand the importance of time and energy management.

For example, chief executives spend a lot of time in all sorts of meeting with the board. Instead of treating board members as a drain of energy, many CEOs have stated that realising board colleagues can be a sort of insight and advice and can turn themselves into a proper source of energy. One of the CEOs interviewed has said: “It took a real mindset shift on my part but turning engagements with the board from an energy-draining exercise into a source of support and advice contributed greatly to my personal success and to the feeling that I had advocates around me.” Another important factor that must be looked into when managing time and energy is building a strong senior team as soon as possible, as Paul Foster, CEO of Sellafield has stated: “I spent too long working across multiple roles [CEO and previous role], when I should have been bringing in new hires.”

Managing Internal-External Relationships

CEOs recognise the importance of building trust with all stakeholders, with a priority focus on the board, investors and the media. Among those we interviewed, most spend on average about 50% of their time managing internal and external relationships.

Almost half of that 50% is taken up with board engagement. Nearly all former CEOs who did not focus on cultivating their professional relationships with board members yearned in hindsight that they had. Left all alone, board members can be influenced by investors or media outlets that focus on short-term goals often at the expense of strategies to build longer-term value.  This risk will be especially high with board members who do not really understand or adhere to a company’s business strategy or opportunities for value creation.

CEOs have reported that building relationships with investors and other external factors — customers, media, industry contacts and regulators — is often burdensome and time-consuming than anticipated. Rob Peabody, CEO of Husky Energy Peabody has characterised the process of managing externally as being able to “write your own scorecard”— with numerous opportunities to build support for long-term goals and build patience among investors. CEOs like Mr. Peabody are highly aware that good relationships with external shareholders are “two-way streets.” CEOs who regularly connect with investors will use their feedback to improve communication in presentations and materials regarding the company and in various media interviews.

The Information Flow

The impact of asymmetric information is most obvious and most damaging in the relationship between chief executives and external shareholders. Stock price is often driven in part by the messages a CEO communicates through engagement with investors, analysts, and the media. Learning to control this information flow is considered a quintessential factor in career longevity.

Inexperienced CEOs often revert to old, previously successful behaviours in times of stress, but eventually realize that they are no longer appropriate or effective in their new role. Survey respondents highlighted the need for CEOs to quickly adapt, clearly outline a personal strategy, and regularly evaluate themselves against it. “Am I getting the information I need from the business units?” and “Am I spending enough time on individual relationships with board members?” is important and can help identify challenges early or avoid them altogether. They also note that while the job can be isolating there is often help available. New CEOs who find that they are struggling to adjust should consider seeking counsel from a more experienced CEO, senior consultant, or coach to help guide their efforts and increase chances of success.

CEOs have a lot to manage at any given point in time given the fact that they are tasked with increasing business revenue whilst also managing employees and customers, there are a lot of variables nowadays. As a CEO you must be aware that there are many challenges throughout the day; some that can be planned in hindsight but others not so much.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.inc.com/young-entrepreneur-council/the-top-5-challenges-of-ceos-and-how-to-solve-them.html

https://boardmember.com/challenges-replacing-visionary-ceo/

https://hbr.org/2019/01/the-3-challenges-every-new-ceo-faces

Anatomy of a Future HR Leader

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Extract from an article published in HR Magazine:

“What should the HR leader of tomorrow look like? A seemingly simple question… The answer though is a much more complex – or perhaps alarmingly short and unilluminating – ‘we just don’t know’. And it’s safe to say that tomorrow’s world will be even more difficult to forecast moment to moment. Which means predicting the exact technical skills HR professionals will need – in a future characterised by continual reskilling and ‘agile learning’ for all parts of the workforce – will become an increasingly fraught endeavour.

The one thing we do know, however, is that to survive and thrive in the future world of work – particularly when it comes to leadership positions – professionals will need to be able to stay resilient, positive, open-minded and strategically-savvy in the face of sudden dramatic changes of direction. This was the conclusion a panel of top current and former HRDs (representing the public, private and third sectors) came to when they met towards the end of last year to discuss the topic with HR magazine; and to help compile an assessment, in partnership with psychometrics firm Great People Inside (GPI), to see whether those on track to be HR leaders have what it takes.

Our panel chose nine dimensions (see box below), selecting for each where HR business partners (HRBPs) should sit along a sliding scale of one to 10 to have HR leadership potential. Stress and resilience, engagement, curiosity and self-awareness, and a VUCA approach were qualities our panel decided the HR leader of the future should possess in particularly strong amounts  (i.e. the more resilient, engaged, curious and VUCA-ready the better).”

To read the full article, please access this link.

 

Creating the Perfect Internship Programme

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For the majority of young adults, an internship represents that first step, the initiation phase where you go from being a student to a professional worker. Internships are meant to help young people apply what they’ve learned all their lives and apply them to the real world. It has become a bit of an urban legend, that an internship at a respectable organisation means more than the actual degree.

However, reality has the tendency to prove us wrong most of the time. In the past few years, numerous internship programmes have come under intense scrutiny for being a very legal way of exploiting young people by paying them close to nothing, if they actually decide to pay them anything. Then again, it must be said that not every organisation looks to take advantage of young adults and offer them internships where they are being used. You might be one of the lucky ones who can say that your internship programme was meaningful both professionally and personally.

Ideally, it is best to recruit interns that are geographically close to your base of operations. Drafting young people from local universities is just common sense. Alternatively, if you recruit someone from a different location to work for a summer, it is highly unlikely they will return to you for a full-time job if you offer them one.

There are a number of factors that must be weighed in when it comes to recruiting the best and offering them the best conditions to thrive.

Firstly, it is highly recommended to recruit early in the year. If you plan to organise a summer internship, if you start looking in the spring then all the best talents are already taken. Fall seems like the ideal time to start recruiting if you wish to have the best possible students available. Obviously, this requires being proactive as an organisation.

Secondly, make their first day amazing. Keep in mind that they are most likely nervous about their first day and they didn’t sleep too much due to their anxiety. Some of the following things may help ease them in: someone greeting them as soon as they come in, make sure their offices are properly set and ready to work and take them to lunch.  Furthermore, if you will have interns in various departments try and create opportunities for them to meet. This can be easily done by creating training and social sessions for them in order for them to get more accustomed to their surroundings.

  1. Offering your interns actual work

Everyone is scared of going to an internship and all they will have to do is deliver coffee. Some of the best ways in which to offer them meaningful work is to assign a project that will impact the way business is done. Give them the possibility to present their ideas and solutions in front of the executives and shareholders. You will be surprised how many good ideas may come from someone who is new in the place of business. More often than not, interns’ ideas are being implemented and have something extra to add to their CVs. Moreover, it gives the manager a clear idea of who they can recruit full-time after they finish their studies.

  1. Continuous feedback

Although it is fairly important to offer your interns meaningful work, it is as important to give them continuous feedback. Do not drop a project on them and then check their work in their very last day. For example, L’Oreal offers ongoing feedback considering it an integral part of the development of all their employees, either temporary or full-time. And that is not all. Interns have the possibility of providing feedback as well. L’Oreal considers that there should always be a dialogue between interns and managers, thus leading to better engagement levels and productivity.

  1. Compensation

In an article from the New York Times, it has been brought up to everyone’s attention that there are violations of labour laws when talking about unpaid internships. A few of the rules that are in place at the moment state that the internship should be related to an interns’ academic capabilities, interns should not displace full-time employees and that the company cannot obtain any immediate advantage from an intern’s work. In layman terms, internships should benefit interns, not organisations. All in all, the criteria mentioned lead towards the idea that internships should be financially compensated. After all, a successful internship must be a win for everyone involved in the process.

  1. Closing time

Request a summary of your interns’ experience at the end of the programme. This is a win-win situation for both parties. The interns have the opportunity to reflect on their experience and what they have learnt, whilst providing you with valuable information on how to improve office relations, communication, etc.

If there are interns who have impressed during their time at your organisation make sure to make them offers for a full-time position before they go back to school. This is a crucial step because not only does it offer you with a young and consistent new employee but it may also drive other interns in the future to seek your programme.

In their last day, offer them a small token of appreciation. It could be a keychain, a hat or a coat with the company logo on it. If he or she had a great experience within your organisation they will wear it proudly (plus, a little bit of advertising goes a long way).

Most companies think that when interns leave that is a job well done. This could not be more false. It is essential you keep in touch with them. Managers should make sure that whoever worked the closest with an intern touch base on a monthly basis. It is also important for interns to know that the work they have put in the projects they have been assigned is developing nicely.

Finally and this is more food for thought than anything else. Just think about how you would like to be treated if you were embarking on your first internship experience. You know very well what the difference is between being treated as an equal or as a ‘servant’. By applying just some of the ideas discussed in this article your organisation will see an increase in demand for students to come and take your internship programme.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.fastcompany.com/40556255/how-to-build-an-internship-program-that-works-for-the-interns

https://www.cio.com/article/2902929/hiring/looking-to-build-a-great-internship-program-read-this.html

https://readwrite.com/2010/05/27/5-tips-for-creating-an-interns/

Why Are Employees Leaving their Jobs

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Retaining your top talent is every bit as important as attracting new top performers due to the simple fact that a high employee turnover is very costly to every organisation. Hence, managers should always be open and communicative with their employees and do their best to understand why their employees stay and what do they stay for. In the case of those who leave, they should find out why they quit.

A company can ‘achieve’ a high employee turnover for numerous reasons such as following their loved ones to their new job, or they stay at home with their newborn children, they seek a better position in another organisation, they wish to further their studies or they simply change their career field.  These types of events in an employee’s life are difficult to predict by the organisation because they revolve around events that occur in everyone’s life at one moment or another.

However, the majority of reasons why companies have a high employee turnover rate can be managed by the employers. To be more specific, organisational aspects such as workplace environment, culture and the perception an employee creates in relation to his job and responsibilities represent elements that factor in how an employee is affected.

As mentioned earlier, the best way in which to retain your top employees is to keep a close eye on what they think and what they want out of their professional life. Do they believe their work matters? Do they feel they need more of a challenge because their work right now seems dull to them? Is the communication style in the office suited to their needs? All of these questions should help out managers determine how happy and engaged their employees are.

In order to determine if your employees are happy with how things are going one solution is to simply ask them. Take the necessary course of action and carry out stay interviews in order to evaluate why employees stay with your organisation. Pay close attention to the factors that determine them to keep working for the company and then enhance them if possible. No employee leaves because they have it too good, everyone wants to leave for a reason. Discover those motives before it’s too late.

Offer your employees the best possible opportunities for them to do their job within the organisation and your retention levels will soar.

Firstly, let’s talk about salary. Let us not kid ourselves; salary is important, of course, but it does not represent the number one why employees leave. In a recent Gallup study, it has been revealed that salary cannot buy employee loyalty. In their findings, only 22% of respondents have even mentioned salary as the number one reason for their departure from a company. The rest of the respondents have stated reasons that are within a manager’s reach to change or influence for the better.

As a manager, there are a few things you can do in order to reverse the decision of employees who wish to leave.

1. No Opportunity for Advancement

From an evolutionary standpoint, the human race has always been looking for new ways in which to better itself. Being humans themselves, employees are always on the lookout for opportunities to advance their skills in order to advance their careers. In particular, employees from Generation Y and Z wish for their employers to provide them with the necessary tools and training programmes so that they can improve themselves. Consequently, if they start to feel that their job has become routine or their managers show little to no interest in their progress, their natural reaction will be to leave. This represents one of the best predictors of high employee turnover rates. Employees want to have opportunities through which they learn and hone their skills. In Gallup’s Q12 engagement survey, employees who agree with the following statements are more likely to say they feel they have the required opportunities to move up the ladder.

  • “In the last six months, someone at work has talked to me about my progress.”
  • “My supervisor, or someone at work, seems to care about me as a person.”
  • “At work, my opinions seem to count.”
  • “There is someone at work who encourages my development.”

It comes to no surprise that 92% of these respondents have stated that they see themselves working in the same company one year later.

2. Professional Relationships

It becomes more and more evident that employees do not leave a company; they leave their teams and managers. If an employee has a conflict with the manager, then there is only a matter of time until he or she leaves. At the same time, it is also true that if an employee doesn’t manage to make any friends at the workplace or have someone for a quick chat during breaks, most likely his engagement and happiness levels are low and may be looking to relocate.

3. Flexibility

Given the unpredictability and the need for alertness in today’s society, the majority of employees struggle to juggle their jobs with their busy personal lives. As a result, people are actively looking to work from home or try to adjust their hours and schedules accordingly, obviously without jeopardising both their professional and personal lives.

53 % of respondents in the Gallup study mentioned earlier have said that for them a great work-life balance and wellbeing is very important, especially for female employees. Furthermore, 51% of employees said they would make the switch to a new job if they had the possibility of a more flexible schedule whilst 37% of them would relish the opportunity to work from home at least half the time. In these ever-changing times, managers must show their employees they matter and find solutions in which employees feel they have control and that it also makes sense business-wise.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.entrepreneur.com/article/311292

https://www.inc.com/marcel-schwantes/why-are-your-employees-quitting-a-study-says-it-comes-down-to-any-of-these-6-reasons.html

https://www.thebalance.com/top-reasons-why-employees-quit-their-job-1918985

Workaholics and Their Toxic Mindset

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In the United States, the 5th of July is also known as National Workaholics Day. This day has been set more as a means of creating awareness for what is also known as ‘the addiction of the century’. Unfortunately, people still do not know what workaholism is in a time when society praises ‘busy’ people and also view it as an important status symbol.

However, there is a difference between workaholics and hard workers. For example, workaholics are those employees who cannot stop working long hours, even during weekends and vacations. They are physically addicted to their job. On the other hand, hard workers do not put themselves in these types of situations. Of course, they may stay overtime from time to time in order to ensure a deadline is met, but they do not start neglecting their health, their friends and their families.

This issue is of a serious concern to an organisation on multiple facets. On an individual level, workaholics, besides neglecting their health and personal lives, also experience lower levels in regards to job satisfaction and obviously makes it harder for them to achieve a healthier work-life balance. Given the fact that workaholism is an addiction, it is very much similar to alcoholism and other similar addictions in the sense that little enjoyment is had while working. Thus, the organisation may have numerous overworked and unhappy employees.

In a clear domino effect, those unhappy employees will surely affect teams and the company culture in the process. Given the fact that workaholics are always looking to one-up everyone else and they become an issue in terms of teamwork due to the fact that they can’t and won’t work well in a team. Their approach is sometimes extreme and it can usually be seen by a disregard of social norms in terms of collegiality. So what are the differences between hard workers and workaholics?

It is worth mentioning that the difference cannot be summed up simply by the number of hours put in. The problem here revolves around the implications it has on their lives. In a 2015 study published in the “Journal of Psychosocial Nursing and Mental Health Services”, it has been revealed that workaholics encounter several problems such as social, psychological and physical complications due to their addiction to work. Additionally, the study discovered that these people are at a huge risk of burning out, are closer to depression, a weaker immune system, very little life satisfaction and deteriorating relationship problems. And the more workaholics work, the consequences are getting bigger. The stress that results from these consequences leads to less productivity. Consequently, less productivity results into longer hours at work. Hard workers, on the other hand, are passionate about their work and always maintain a good work-life balance.

What if you love your work?

Interestingly enough, the majority of workaholics know that their behaviour is detrimental to their job performance and health, but their defence almost always revolves around how much they love their job. The stress and problems that result from workaholism lead to numerous health issues. In an interesting take regarding this problem, studies have been done in order to assess if there is a difference between engaged and unengaged workaholics. The results pretty much speak for themselves. Both sets of workaholics have experienced a higher number of psychosomatic health issues such as headaches, digestive system problems and also more mental health problems i.e. depression, mood swings, sleep deprivation. Unsurprisingly, unengaged workaholics are at a 4.2% higher risk of experiencing these medical complaints. The number itself does not seem like a lot, but when it comes to health risks, it could be a game changer.

Additionally, engaged workaholics have shown more resourcefulness both at home and at the office. They are being offered more social support, from everyone ranging from spouse to manager. Their communication skills are also better developed, with time management skills also in the green.

A proactive mentality is usually a characteristic of employees who have been blessed with intrinsic motivation can help themselves in terms of taking action when they experience even the slightest health problems. On the other hand, when it comes to people with extrinsic motivation, anxiety may transform a workaholic into an even more passive individual who will dwell even more on their unhealthy habits.

Of course, managers are recommended to intervene in such cases. Helping employees discover their intrinsic motivation can help them re-engage with their job and co-workers, who in turn will provide support. Intervention can mean anything ranging from offering them challenging and feasible tasks, discussing their professional development to things such as autonomy and feedback regarding their work.

In the end, the challenge lies in identifying the compulsive workers and prevent the consequences this type of behaviour may have. In layman terms, the focus should be on employee engagement and their ability to ‘switch off’ after office hours. It will definitely help all members of staff to be and feel happy both professionally and personally.

We have an impressive assessment library with hundreds of dimensions that can be leveraged in creating a custom skills-based assessment that supports your organisation’s specific competencies and unique vision. Please contact us if you need to measure the engagement level in your company.

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Sources:

https://hbr.org/2018/03/how-being-a-workaholic-differs-from-working-long-hours-and-why-that-matters-for-your-health

 https://www.inc.com/carolyn-cutrone-the-difference-between-workaholic-and-hard-worker.html

http://www.businessinsider.com/the-difference-between-hard-workers-and-workaholics-isnt-hours-worked-2017-7

 

Building a Strong Emotional Connection with Consumers

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Companies that are looking to make a lucrative organic growth are making major investments in the optimisation of end-to-end customer experience. In layman terms, this refers to every aspect of how customers interact with a brand and its products and promotions whether we are talking about on or offline. However, most companies still lack a clear strategy and objectives that connect all the aspects of a customer’s journey. Due to this lack of vision companies risk expending vast amounts of money and human capital without getting back any financial gain.

Most companies nowadays are too busy tracking customer activity across their stores, unrealistic measurements for and gathering huge amounts of data from social media, call centres, e-commerce sites loyalty programmes and so on. In this case, their goal is to improve customer satisfaction every step of the way. However, overall customer satisfaction levels are already pretty high and rarely represent a competitive advantage.

Thanks to the research done by Harvard Business Review (HBR) over numerous brands and industries, has revealed the fact the most efficient way to boost customer value is by connecting with them on an emotional level. This indicates the need to use ‘emotional motivators’ i.e. fundamental emotional principles which are often unspoken. Just to name a few we have the need to feel secure, the desire to have a sense of belonging or to succeed in life.

On the basis of customer loyalty, emotionally connected clients are at least twice as valuable as satisfied customers. Emotionally connected customers will buy more of the products or services you offer, they will visit your place of business or stores more often, they display low price sensitivity, they will recommend you more to their family and friends and even follow your advice. Here are a few examples:

Airbnb: Travellers who crave a more personal experience, then, the sharing-economy icon definitely hit an emotional chord through the use of principles such as of mutual trust and respect.

Starbucks: Given the fact they have created a sense of community in their coffee shops, the company has developed a deep and strong bond with their customers to become the perfect place between home and work.

Patagonia: This socially responsible retailer started connecting with like-minded customers and initiated supporting causes they are really invested in. Given its activist spirit, this is echoed in every aspect of the organisation, ranging from logistics to fair wages.

In all fairness, all the marketing tools available now have acted as a catalyst for brands and their customers. If we take a closer look at the leading marketing campaigns involving technology, we can clearly see that emotional marketing is further enhanced by digital tactics. This leads to brands building their reputation and awareness even stronger and with the added bonus of creating special bonds with their long-lasting customers.

The digital advantage

Contrary to popular belief, by embedding technology in our daily marketing campaigns does not mean brands give up on human connection. Through the use of new emerging technologies, organisations have discovered a more personal way to reach and persuade costumers. Messages that make people smile, cry or grimace are what lead to likes, shares and lifelong customers; and the opportunities that the digital era presents bring emotional marketing to new heights.

Influencing customer insights

When you’re designing a campaign revolving around emotions, the message has to reverberate with the desired target audience in order for it to be effective. Nonetheless, it is pretty difficult to build up such a campaign given the fact that every consumer in the customer journey is at a different point in their lives with unique priorities. Given social media websites and numerous apps, very specific customer data is now available allowing marketers to tailor the campaign for their customers on a very deep, personal and emotional level.

Reaching the target audience

Given that our lives have changed considerably in the past 10 years, we are now living in a mobile-first world. This translates into less physical interactions with them in the stores.  A big part of connecting with consumers on a more personal level is by reaching them where they are. It’s the organisation’s responsibility to discover what kind of device their audience is using more often and which content platform to they seem more in touch to i.e. Instagram, Snapchat or Facebook.

Harbouring customer loyalty

It is clear as day that campaigns that makes people angry, happy, sad, anxious or frustrated stay in the minds of the customers and will make them come back for more.

The moment when branded content is being distributed between family and friends and is also very engaging and entertaining, customer loyalty grows exponentially. When an organisation shares content with their customers either through Facebook or Twitter, we can clearly see the ‘art’ of creating an emotional campaign by combining it with science. These types of tactics have become one of the most effective ways in which to boost customer loyalty over decades.

If you are a believer in the idea of the digital era that is destroying the relationship between brands and their customers you may want to think again. Emotional and digital marketing are more intertwined than you may think. Campaigns that make people engage on an emotional level such as laughing, crying or smiling will continue to come out and they will grow in numbers, thus leading to an unprecedented level of engagement which can only be obtained through cut clear digital tactics.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:
HBR.org

Forbes.com

MarTechToday.com