21. Top 5 Human Resource Issues for 2005 [Calgary Herald] Saturday 01/01/05 2:41 PM
The top 5 Human Resources issues for 2005 according to Canadian HR professionals, management consultants and career experts are as follows:
1. Leadership and Skill Shortages
Currently specialized areas are seeing talent shortages but in the future we are going to see it everywhere. It will be important in 2005 to focus on succession plans, leadership development, mentoring and knowledge transfer.
2. Organizational Culture and Change
There will be continued emphasis on creating a corporate culture that better attracts and retains the new generation of employees.
3. Health and Well Being
New healthcare options are the name of the game as health benefit costs continue to increase.
Also flexible work hours, work-life balance and remote work arrangements continue to gain traction with today's workforce.
4. Education and Training
Lifelong learning is a common theme in the workplace due to rapid advancements in knowledge and technology.
5. Legislative Realm
Privacy, security and corporate accountability are all hot button legislative issues that will play a prominent role in 2005.
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22. Companies Lower Employee Turnover and Training Costs [The Shreveport Times] Thursday 12/30/04 1:05 AM
A three year study funded by the Hitachi Foundation has resulted in the development of a model for small and midsized firms to improve employee retention.
Eagle Distributors followed a similar model and reduced employee turnover by 50%. Some of the things they implemented include:
- improving new hire orientation and initial training
- having new employees spend a day in each department
- having employees create an annual development plan that documents their goals for the coming years
- broadcasting of daily interactive training on a variety of subjects
- bringing in instructors to teach computer literacy classes
Another participant in the study, Bossier Federal Credit Union reduced turnover among tellers from 70% to about 30%. They did so by improving communication and incentives. Specifically they:
- developed a new orientation for tellers which introduces tellers to staff, allows tellers to spend a week training on software before being placed in front of customers and assigns them a mentor
- introduced an incentive program that awards tellers up to $1400 annually for error-free transactions and financially rewards top performers monthly
- listened to their employees and learned that they rather be rewarded with time off to spend with family than be given an offsite celebratory weekend party
The study was overseen by North Louisiana Goodwill Industries and the Greater Shreveport Chamber of Commerce. It included 22 small and medium sized businesses in Louisiana, West Virginia and Kentucky.
The resulting report can be found at the US Chamber of Commerce's website at:
http://www.uschamber.com/cwp/strategies/makingwork/default.htm
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23. Best and Worst Companies [Globe and Mail] Friday 12/24/04 4:38 PM
The following 4 key factors separate the best companies from the worst companies, according to Ted Edmond and Neil Crawford of Hewitt Associates:
1) Communicating a vision
Best Companies: Leaders chart a clear course for the future that energizes and motivates employees.
Worst Companies: Leaders chart course but fail to build enthusiasm for the vision which is subsequently not implemented.
2) Business growth and transformation
Best Companies: Show strong record of growth, confident about future growth and adaptive to change.
Worst Companies: Feel unprepared to handle upcoming challenges.
3) Attracting and development of talent
Best Companies: Attract and retain employees who best fit in with the company culture. Performance expectations clearly articulated.
Worst Companies: Inconsistent people management programs. Fail to adapt people processes to changing business conditions.
4) People programs and practices
Best Companies: People practices implemented fairly and consistently across all employees. Human Resources department actively supports employees on day-to-day issues.
Worst Companies: Employee issues addressed haphazardly and inconsistently. Allow cronyism and discrimination in promotion decisions. Employee engagement drops as distance from executives increases.
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24. Reasons Behind IT Worker Turnover [India Times] Wednesday 11/17/04 10:25 PM
Reasons for employee turnover among software professionals in India differ between early career stage workers and mid- career professionals.
According to a 5 and half year study, employees in the early
stage of their career (0-3 years) value money highly. They seek out the best jobs with the highest pay. Those at this stage also want to work on "hot technology."
The more mature workers in this group also look for learning opportunities. Sometimes, though, they may need to be mentored on the long term value associated with continuing education.
Also of note is the common practice by young software professionals of comparing their salary and project work with their friends and ex-colleagues. Family's opinion of the job is also important.
The mid-career software technologist (5+ years)
looks more at the quality and culture of the company. They seek out greater challenges and better leadership.
At this stage they are more focused on the big picture related to top management's competence and the company's vision and mission.
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25. Work Life Balance is a Difficult but Worthwhile Goal. [Red Nova] Friday 11/12/04 9:16 PM
In order to achieve balance, three important support mechanisms must be available: workplace supports, family and friends and community services. Like a three legged stool, if any of these areas are weak or unavailable, it will be difficult to achieve balance.
Many companies have implemented support programs such as flextime, childcare and personal care
services. Often these programs are discontinued due to under utilization or lack of support from senior management.
Job performance and committment is still measured in the minds of both employees and employers based on the long-work-hours culture.
In order for work life initiatives to be successful, the company leaders must set the tone and vision. Managers need to model good balanced behavior. Employees need to take responsibility for their choices regarding diet, exercise, sleep and career development.
Follow these five steps to develop an appropriate program for your organization:
1) Assess your current situation.
2) Consult with employees to determine their needs based on focus groups, exit interviews, employee surveys, performance management data and other employee management reports.
3) Consider the options. Some may cost money while others like giving employees flexibility and control over when, where and how they work may not be financially expensive at all.
4) Articulate your plan. Set your goals and document your objectives.
5) Execute the plan. Communicate continually. Measure everything.
The article also describes an architecture for a work-life continuum.
Work-life balance is achievable and it is worth the effort. A successful program will produce a strong workforce of committed and engaged employees.
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26. Average US Employee Turnover Rates Increase from 19.2% to 20.2% [Nobscot Corporation] Thursday 11/11/04 3:39 PM
The latest Bureau of Labor Statistics employee turnover rates are available in easy to read colorful graphs on Nobscot Corporation's website.
The new charts include turnover rates from September 2003 - to August 2004. The data is available by industry and by geography and includes both annual and monthly rates.
Findings show that the overall US average voluntary turnover rate has increased from 19.2% to 20.2%. Regionally, the western United States had the largest increase in employee turnover from 20.5% to 21.9 percent.
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27. Study Finds Direct Link Between Employee Engagement and Profitability [Yahoo Finance] Thursday 11/11/04 2:51 PM
A new study shows that there is a direct link between employee engagement and satisfaction and company financial performance. The link is evident even where employees do not interact directly with customers.
One of the key findings from this study concludes that companies with engaged employees have customers who use their products more.
"It is an organization's employees who influence the behavior and attitudes of customers, and it is customers who drive an organization's profitablity through the purchase and use of its products."
The study was designed by The Forum for People Performance Management and Measurement at Northwestern University. Dr. James L. Oakley of Purdue University's Krannert School of Management oversaw the research.
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28. Employee Retention Factors [INQ7] Wednesday 11/10/04 8:34 PM
A recent study in the Philippines provides some answers as to what contributes to employee turnover in that country.
The greatest influences according to this study include:
- The quality of vision or strategy from senior management
- Opportunities for growth and advancement
- Amount of politics or bureaucracy
- Amount of job stress
- Compensation
- Link between pay and performance
- Companies responsiveness to employee needs
Based on the survey results, the authors suggest a variety of actions that can be taken to reduce employee turnover. Some of these include:
- Utilize surveys, focus groups and exit interviews to identify specific causes of employee turnover
- Provide competitive salary and benefits and special perks
- Create pathways for employee growth and development
- Improve supervisory skills of managers
- Communicate organization vision and strategy
The author cautions that employees' needs often vary by age and position. Therefore it's important for HR practioners to consider a variety of employee retention strategies that will meet the needs of all employees.
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29. Be Happy And Be Healthy [Honolulu Advertiser] Tuesday 11/09/04 3:10 PM
The pursuit of happiness is a deeply help belief and it is growing stronger for each successive generation. More and more, people are placing happiness above careers and wealth.
Research has found that being happy is not just more fun, but it leads to a healthier and longer life.
How to be happy? Studies have found that wealth is not the answer. Wealth does not create happiness, it creates comfort. People that have won the lottery were found to be just as happy or unhappy six months after the event. Some of the things that you can do to increase your happiness are to be more sociable, exercise more and try new things. Being around others, being active and actively changing the things you do gives you a sense of control and connectedness that improves your happiness and your health.
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30. Employees' Satisfaction With Boss Improves Bottom Line [Honolulu Advertiser] Tuesday 11/02/04 1:53 AM
According to the August Gallup Poll, 60% of employees are completely satisfied with their boss.
This is up from 54% last year and 40% 15 years ago.
Happy employees result in improved performance which leads to improved stock market results according to Gallup.
Companies on Fortune Magazine's "100 Best Companies to Work For" list, which is weighted heavily on appraisals of supervisors, consistently outperform the major indices.
Advantages of a healthy trusting relationship between the boss and employees are higher productivity and creativity because risk taking is encouraged. Likewise, healthcare costs are lower because employees are less stressed.
The article includes a "Top 10 Management Tips" list for generating success. The first is to set SMART goals to
motivate employees (SMART=specific, measurable, accepted, relevant, time-bound).
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