Imagine the consequences of not assessing someone seeking to join the police force, or someone aiming to join an airline as a pilot. Seems ridiculous, doesn’t it? While the impact of hiring the wrong person in those roles can be dire, the consequences of not assessing job candidates and employees in less complex jobs are also significant. The outcomes for businesses hiring or promoting the wrong person can range from poor performance, high turnover, lackluster customer service, to even lost business.
In today’s competitive business landscape, Millennials are needed now more than ever for their fresh ideas and innovative perspectives. The reality is that Millennials are in high-demand, but they have extremely high turnover rates that put strain on today’s companies. This comes from a recent Gallup report which revealed that about 21% of Millennials in the workforce have changed jobs in the last year.
In a recent study by Cornell University, it was found that the number of restaurants failing in the first year is close to 60 percent. (Some sources say it’s closer to 90%). This isn’t the case at San Francisco based Zazie.
It's time to offboard your old onboarding program in place of a more interactive, collaborative approach. Millennials grew up in a time of interactivity, so it is no surprise they are not impressed by classroom style orientations to new jobs. In order to engage and retain this young demographic of talent, companies must utilize current best practice strategies for onboarding the new generation of employees.
It's time for a new generation of onboarding. High performing companies are realizing that more integrated, longer onboarding processes which go beyond the traditional employee handbook and orientation program, are the key to effective onboarding.
Read our latest Industry Insight and learn how onboarding can:
- Create more employee loyalty
- Increase new hire productivity
- Establish a reputation for your company as an employer of choice
Consider that in the next 10 years, Millennials will make up 75 percent of the workforce. A growing number of these Millennials are moving into leadership and management positions, and find themselves frequently managing their older, Gen X and Baby Boomer counterparts. In many organizations this shift is causing strife and dissatisfaction to seep into the day-to-day work environments.
A Future Workplace study found that:
- 45% of Baby Boomers and Gen X respondents feel that Millennials’ lack of managerial experience could have a negative impact on a company’s culture.
- More than 1/3 of Millennial respondents said that managing older generations is difficult.
- 44% of Millennials view themselves as being the most capable generation to lead in the workplace, only 14 percent of all survey respondents agree.
In a recent study conducted by XBInsight of managers across a wide range of industries, 5 competency areas were identified as particularly critical for Millennial managers to develop their EQ (emotional quotient) and close the generational divide between their older subordinates. These fundamental skills can help to build trust and foster respectful, productive, and satisfying relationships between generations.
To learn more about each of these crucial skills, and get 20 tangible developmental strategies, download our Industry Insight here:
With a reported 40 to 60 percent failure rate of U.S. executives, it's clear many companies aren't onboarding key executives effectively. Yet, organizations with strong executive onboarding programs see 2.5 times the profit growth than those that don't. Read our latest Industry Insight and uncover the onboarding best practices that lead to unparalleled outcomes.
Click here to learn more and download our White Paper on Executive Onboarding:
An often overlooked but fundamental aspect of being an exceptional manager is self-reflection and analysis of our own behaviors as leaders or mentors. This self-discovery is critical to leading effectively, and to managing high-performance teams that deliver on your objectives and those of the business.
After you’ve built an impressive talent hiring and screening approach, one that better predicts and ensures you are hiring the right talent for your organization and for each position, it's time for you to sit back, relax and watch the magic happen right?
Thanksgiving is a nice reminder to give thanks and show appreciation to those who deserve it – and at the top of the list for companies ought to be their valuable workforce. But showing gratitude and recognition to employees needs to be a year-round initiative, not served once a year alongside turkey dinner. Employers have always depended on human capital to get the job done, but today the value of a motivated, engaged workforce is ten-fold.
According to "Get It Done" authors Ralph Welborn and Vince Kasten, “More than 64 percent of C-level executives from 250 midsized to large companies in the United States and the European Union have said that being able to execute, to ‘react quickly to changing business opportunities, models, technologies, and processes is critical for their success,’ and yet is nearly impossible to achieve.” It would seem that execution is truly a forgotten art. Sadly, many companies are missing out on primary benefits that go unrealized due to the lack of an effective execution plan.
TO MOST ORGANIZATIONS the idea of adding a mentoring program sounds promising. Thoughts of internally trained junior executives rising through the ranks under the wings of their predecessors gives a noble air. However, there is much more to consider. What - specifically - can a mentoring program offer your organization? The most common aspect of a mentoring program is that of development. A manager or supervisor works with an employee to help in shaping and training them for future responsibilities. However, mentoring programs are more flexible and diverse than the simple act of training. Mentoring programs reach into practically every area of professional life in order to sculpt, mold and improve those who participate.
Many business leaders tell us they’re challenged in finding and recruiting top salespeople. That’s one side of the equation. They are equally challenged in keeping these top performers, especially after they’ve been on the job for a while. Top performers are also tough negotiators, and they know their market value.
Tim, a sales VP at a large manufacturing company, was frustrated because he wasn’t getting the results he needed from his top performers. His staff seemed incapable of working together to achieve the company’s sales objectives, and they were driving Tim crazy with their arrogant, demanding and egotistical ways. As a result, Tim felt like a failure and began to doubt whether he was cut out to be a manager.
Have you ever phoned a customer service department only to receive an attitude rather than help? Not a pleasant experience! It is quite obvious that the person on the other end of the phone is not pleased with his/her job. This has a tremendous impact on your customers!