Generation Y: Are They Even Worth The Hassle?

“That’s it. I’m only going to hire Baby Boomers from now on… Gen Y are just too much hard work”.

It seems that many managers and business owners have reached breaking point with Gen Y. This younger generation, after all, rarely hangs around in a job for long enough to warrant the financial and time investment of training. What’s more, they have a sense of entitlement and a brash self-confidence that is less than endearing to many older managers.

Gen Y: they have been the topic of countless articles, research papers and books in recent years. Workplaces and employers in every sector are finding this group a great challenge to recruit, motivate and retain. This younger generation seems to operate by a different set of rules. Their concept of patience, respect and work ethic can seem bewildering at best and insulting at worst. Is it any wonder then that many managers are asking if Gen Y are really worth the hassle?

Sure Gen Y may pose some challenges to work with. Sure they may have an approach to the real world that can sometimes seem less than realistic. And yet, this group is a generation of confident, well-educated natural networkers. They are innovative, flexible, tech-savvy and most important of all, at home in the modern era. It is, after all, the only era they have ever known.

Clever managers are recognising that Gen Y are indeed an excellent source of creativity, innovation and a competitive edge. Rather than seeing this group as a challenge or a source of frustration, these managers are seeing the potential of engaging a generation who have a fresh perspective, boundless energy and a keen desire to get runs on the board as quickly as possible.

If you are keen to join the ranks of those that are engaging rather than estranging Gen Y, the following three keys should help:

1. Put relationship before role

   Gen Y are a connected generation. Community, relationships and a sense of belonging are at the core of both their online and offline identities. They have typified the old phrase ‘I don’t care how much you know, till I know how much you care’. Managers that can build a strong relationship and genuine rapport with their Gen Y staff will find that this will indeed be the key to gaining commitment and loyalty from this group. They will not be loyal to companies or corporate mission statements, but they are loyal to people and relationships. A far cry from the power and control days of management, those in authority can no longer rely on creating a separation between themselves and those they lead. If you want to build rapport with Gen Y, two tips; be authentic, and be interested. They don’t want you to be like them, they want you to be you. Walk your talk, be transparent, have some fun at your own expense and Gen Y will love you for it.

2. Focus on outcomes not process

   If outcomes are all about why we do what we do, then perhaps process could best be described as how we do what we do. Of course, while both the why and the how are necessary for organisational performance, many organisations fall into the trap of focussing on process over outcomes. They become so obsessed with structure, lines of authority, rules, policies, benchmarks and KPIs, that they lose sight of the reason these processes were put there in the first place. Process itself is not the enemy, but process that seems disconnected to outcomes is. The biggest turn-offs at work for Gen Y are unnecessary structure, excessive bureaucracy and suffocating red tape.

3. Give regular positive feedback

   Recognition is that all powerful motivator. It’s the one thing that babies will cry for, grown men will die for… and Gen Y will work for. Positive reinforcement is the best and perhaps the only way to bring out the best in the people we lead. Look for and ‘catch’ employees doing the right thing and then reward it, rather than ‘catching’ people doing the wrong thing and then punishing it. This principle is certainly a key to engaging Gen Y.Use positive affirmation, recognition and encouragement with this younger generation and watch them thrive. Two quick tips when doing this; recognise them in person (don’t just send an email), and recognise them in public (they love to be singled out in front of their peers and colleagues).

Engaging Gen Y employees may seem like a lot of hard work. It will certainly require an investment of time and energy and a willingness to change and adapt. However, those managers that can embrace the challenges of working with this group will reap the benefits of a younger workforce that is energetic, switched on and hungry to get ahead.

Guest Author:
Michael McQueen is a leading authority and sought-after presenter on the topic of Understanding & Engaging Generation Y.

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com/subscribe/

Determining Your Pay DNA

More and more, employers are redefining and allocating their mix of rewards based on individual needs – like a stock portfolio of investments – and finding trends amongst workers as they begin to look at work-life balance, flex-time and other original ways to keep people happy and productive.

There’s much talk today circling diversity in the workplace, both in the make-up of workers and the delivery of rewards. Smart companies have also discovered that contributions of this new “multi” workforce – multi-cultural, multi-generational and multi-otherwise – positively impact the competitive advantage of the organisation.

However, companies will not benefit unless they keep these widely-varied groups happily rewarded and retained. This presents a totally new compensation challenge: When designing total rewards packages that work for each employee, regardless of segment, it is now necessary to understand multiple needs and desires from different workers, and then compensate them accordingly.

When it comes to packaging pay, employers today are clearly challenged. In the average company, there are as many different vehicles to reward employees as there are diverse segments within the employee population.

To get a clearer idea of how to assess what is important to your top talent, let’s take a look at the four distinct employee population segments and what each group values in the work experience – ground zero for understanding what drives their rewards needs.

1. Traditionalists (1909-1945), or Veterans, are part of the old school, command and control, brick and mortar chain of authority. And while they may be the “old guard” of a company, they are traditional in the best sense: They know that people, face-to-face communication and ideas are what make businesses run.They are willing to change and see new points of view, but it may not be easy. Hardworking and hierarchical, they have seen business change for decades – and adapted. They are “company” men and women.
2. Baby Boomers (1946-1964) traditionally have been motivated by money and career advancement. Yet ironically, as Boomers age, yet remain in the workforce, flexibility and work/life balance have become much more important than the need to make senior partner – a goal that may have driven them two decades earlier.Today, many Boomers’ complex lifestyles have shifted to include caring for both their children and aging parents, sometimes in the same household. They have already made a significant mark in the business world, and while they may not be quite ready to relinquish life at the top, they have come to understand the value of balance and life beyond the board room.
3. Among the most popular rewards requested today for the Generation X (1965-1978) crowd include better benefits: wellness, work-from-home arrangements, education reimbursements and, in some cases, child care in the office. For this independent group, it is critically important to set goals and then step away, letting them find their own solutions rather than “how things have always been done”.They are often unconcerned with long-term loyalty and have experienced significant downsizing during the dot.com bust, fostering a spirit of self-preservation, rather than survival of the company. They build strong relationships and serve as a bridge between older and younger groups.
4. On the other side of the coin, Millennials (1979-2000), or Generation Y, are looking for a high level of engagement on a team and employment-based rewards, a concept they hold as near and dear as their 80 GB iPods. They like instant gratification over long term investments of time and effort and want to contribute to society and have full and balanced lives.They want responsibility, the ability to make a direct impact and be rewarded accordingly. And they continually redefine their commitment to the workplace with the knowledge that they are able to “move around” significantly until they find the best employment fit – and they will.

Given the variety of priorities across these four groups, it is nearly impossible for a company to be all things to all people. Therefore, an important first step toward developing a competitive package is to examine organisational demographics.

Understanding what people in your organisation value will help guide decisions on setting compensation opportunities and benefit options. However, in looking at demographics, you must consider expectations and timing of future shifts of the makeup of your workforce. Planning for these shifts can help retain high-performers, as well as attract new talent.

In addition to demographic analysis, collecting information that can add an essential qualitative aspect to a rewards strategy is important, sourced from:

• employee opinion surveys,
• exit interviews,
• focus groups, and
• recruiting feedback.

Armed with this knowledge, competitive compensation and benefits packages should be designed to reflect the values held by employees.

Increasingly, professional and office employees are willing to put pay at risk for the opportunity of being rewarded for superior performance. Team-based awards and project-based bonuses are becoming more prevalent and attractive to lower level employees.

The difference in values across generations can be addressed by varying opportunities at different levels in the organisation. Comfortable base salaries can be offered at the executive level, whereas individual recognition through significant merit awards and variable pay may be more appropriate for middle managers. Similarly, deferred compensation or supplemental retirement contributions will help to keep key leaders engaged and satisfied up through their retirement years.

Individualising rewards

There is no longer a “one-size-fits-all” approach to total rewards. It is time to shift your view on how you promote and reward employees. The system presently utilised in most organisations often promotes and rewards seniority, rather than results.

If you look at most companies today, you find the executive leadership tends to come from the older group and more of the entry positions are filled by the youngest. This approach needs to be exploded and rebuilt, to allow for a more collaborative team ethic that taps into the collective wisdom that all four generations bring to the table.

Younger employees are not going to be patient and follow the path that Baby Boomers set of working up rungs of the corporate ladder. If they are not engaged quickly, they will simply move on. Gone is competitive advantage, and succession plans crumble.

Perhaps the most important considerations employers can incorporate into how they pay today, include a strict performance management assessment process, that is based on individual goals and metrics, unrelated to seniority and utilising the “3-F” appeal to each job: balancing;

1. family,
2. fun, and
3. flexibility.

In fact, an HR executive for one of the world’s largest Internet information portals recently revealed an experimental program for top employees to work in a “few months on, few months off” schedule, an extreme – and workable, in this case – solution to keep a talented team member happy.

Despite differences, all employees want some of the same elements when it comes to the work experience:

• the ability to be satisfied,
• valued,
• have clear objectives, and
• most importantly, directly report to a superior who empathises with a strong degree of work/life balance.

Using the same rewards vehicles – cash, equity, flex-time, incentives – employers can invest differently depending upon the needs of the individual.

Guest Author:

Jonamay Lambert and Adam Steinbrunner, Capital H Group.

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com/subscribe/

Poor Performance – It’s Time To Bury The Walking Dead!

You can receive varying levels of service. The service at one company I dealt with recently was exemplary, whilst the other could best be described as zombie like. A large percentage had ‘died’ many years ago, the problem was no one told them to go home and ‘get buried!’. Zombie like service exists everywhere, maybe even in your organisation. Take charge, grab your shovel and bury them now!

What can you do about it?

I believe in organisations today there are four categories of people:

1. New Recruits
2. The Battle Scarred
3. Walking Zombies
4. Engaged Employees

Understanding where your people fit will enable you to support and encourage them, or maybe just get on with it and ‘bury’ them.

New Recruits

New Recruits are simply that, new people to your organisation, who are usually young or fresh to the workplace. They are keen to learn and be part of the team, they want to contribute to the success of their team and the organisation.

Not only that, they are keen to better themselves and look for opportunities to shine and stand out in the crowd. They do this by going the extra mile in service or productivity and generally are willing to tackle any challenge presented to them in the workplace.

These people are easy to nurture and with little effort, will maintain this happy and productive demeanour for as long as you support them in their role. Over time, these people will progress across to the Engaged Employee category.

The Battle Scarred

The Battle Scarred are people who have been attacked or hurt in some way, either by their boss or colleague(s) at work. Like someone in a battle, they will call out in their pain and will tell anyone who stops by to listen, to all their trouble and woes. Deep down these people still like their job and the organisation, it’s just that they have been attacked by someone and come off second best.

A typical example is when someone is overlooked for a promotion or a plum project role within the organisation. Sometimes their hurt is the result of their own action or inactions in the workplace.

These people can recover and be helped into the Engaged Employee sector by some recognition of their hurt or anger. A caring manager will take the time to listen to this person and coach them back to either New Recruit or Engaged Employee status. The Battle Scarred can recover quickly, if identified, and can be saved.

Walking Zombies

Walking Zombies are people who have been battle scarred and never recovered. Often they have been hurt and when they cry out for help and get no response, they get bitter. They employ “work to rule” campaigns, the problem being they make their own rules as part of this campaign. These people not only have a poor attitude, they do their best to share that attitude with others and even recruit others in the team to their cause.

They are like a viral infection, hard to cure yet often hang around for a long time before you can shake them off. These people continue to turn up for work even though they loath the experience. Amazingly, if these people are moved on, they often return with a new lease of life and report that they should have left the organisation ages ago.

Engaged Employees

Engaged Employees are the people who wake up on Monday mornings and say “I’m going to work today” and have a smile on their face. They find their job or career fulfilling, challenging and fun.

The reason these people love their work is because they usually have a worthwhile contribution to make and they are appreciated for their contribution. Their team leader or manager listens and hears their suggestions and takes the time to encourage and compliment them for their efforts.

Moving from Battled Scarred or Zombie to Engaged Employee

So you have some Battle Scarred or Walking Zombies in your team, what can you do with them? If they are Battle Scarred there is a good chance you can quickly resurrect them to New Recruit or even Engaged Employee status.

Take some time to catch them doing something good and praise them extensively for it. Sit down with them and talk about the vision for the team and reinforce where they fit in to the team and how their contribution is essential to the success of the team. Review their performance agreement and focus on achieving simple goals together.

Is it possible to change a Walking Zombie to an Engaged Employee? In my experience, the best treatment for these people is to ‘put them out of their misery’. Termination is always a good option for these people. You will be doing them a favour and may even give them a new lease of life to begin again in a new organisation.

I can hear some of you groaning already, “but it’s so hard to sack someone!”. Of course it takes some effort, but think about the effort and the cost of having a Walking Zombie on the team, spreading the virus of discontent and lethargy.

Guest Author:

Lindsay Adams, Teamocracy. There are many organisations that provide training, but Teamocracy is fully committed to providing more than just training. We are willing to consult with you to clarify what you are trying to achieve.

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com/subscribe/

Incentive Compensation During Challenging Times – Boom Or Bust?

Some good news: During times like these, we have the unique opportunity to really determine – with a huge degree of certainty – the viability and efficacy of our incentive compensation plans.

Bottom-line (no pun intended), if you are seeing poor earnings or results today, but still paying out boatloads of money, then …

You’re doing it wrong!

Not that we cannot ever pay for effort versus results; sometimes we do just that, but at lower levels of the organisation, where “line of sight” to profitability is less than clear.

But folks, if you’re paying big (or even “any”) bonuses or incentives to managers, leaders or executives, and your company’s performance is in the tank – “Stop it!”

First, some definitions. I use specific words in compensation to mean specific things, and the two that are key to this article are Bonus and Incentive.

• Bonus – A Bonus is just that. Something more than expected. Something provided on top of that which I felt deserved or was entitled to. If I buy a single-scoop ice cream cone, and the young lass gives me two scoops, that’s a bonus. Not sure what I did to get it, not sure how to get it again, but plenty pleased that I received it now.

  Same thing with a Bonus in compensation. Happy to get it, certainly grateful, but no clue exactly why, or what I can do to ensure its payment again next time.

• Incentive – An Incentive, on the other hand, is the payment for an “if-then” statement. If you do this, then I’ll pay you that. If you exceed production by 10%, then I’ll pay you 5% of your annual salary. I know what I did to get it, and presumably know what to do to get it again.

  And Incentives are expected. We had an agreement, and I expect you to honour it with payment.

So, if we want to encourage behaviour with compensation, it’s clearly going to be through incentives. But we must use caution; it’s easy for the “law of unintended consequences” to creep into incentive efforts. So, what makes an appropriate, effective Incentive Plan?

First, it must reward correctly. In the compensation world, it’s not what you want, wish for, hope for, or manage to; it’s what you pay for. Many an incentive plan short-circuited when it was discovered it promoted behaviour we did not want, just to get to results we did.

Pay attention there.

Next, it must influence behaviour. By that I mean a couple of things:

1. It must be understandable, that is, I must realise what I can do to reach the incentive, and

2. It must be sufficient to warrant a behaviour change. Make it chump change if you want, but don’t expect your best and brightest to get on board. Realise that, if you get it right, it doesn’t really matter anyway, does it?

Finally, it must, must, must be kept simple. Complicated plans create two significant issues:

1. They become too onerous for people to comprehend. No understanding, no change in behaviour.

2. Employees believe that complicated plans are simply corporate subterfuge. And I agree. Plans do not need to be tomes like War and Peace. A page or two tops is all they should take. More than that, and you are clearly talking about why we won’t pay the incentive, instead of why we will.

Incentives can work. They can provide the behaviour changes you need in your employees today to drive results in the face of almost any economic conditions.

Done well, and you’re paying incentives from a bucket of money that you wouldn’t have had anyway, so it’s great! Done poorly, and you’re paying out money after losing money.

Let’s avoid that last one, shall we?

Guest Author:

Kevin Berchelmann, Triangle Performance. Described as a Human Capital Expert by The Harvard Business Press, Kevin Berchelmann helps new managers at private equity, Fortune 500 and small to medium sized businesses become top leaders that deliver results.

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com.au/subscribe/

Building On The Strengths Of Your Team

Outstanding managers spend more time developing the strengths of individual team members than they do in correcting weaknesses. They encourage team members to continue to learn and grow rather than just settle for mediocrity. So how can you build on the strengths in your team?

Firstly, consider how you can give them variety in their work. The longer people keep doing the same thing, the less satisfied and engaged they become at work. But here it is important to give them new experiences that they want to experience.

Most people will respond well to new experiences that are consistent with their strengths and interests. Look out for strengths in your team members and ask them about what parts of their work they most enjoy or would like to develop. Sure, with some problem staff, you may need to look very hard to find their strengths, but I assure you they are there. It is just that their strengths are being used in an evil way.

Some people also respond well to challenge, where they are stretching themselves. The research says that about 40% of people generally would like more challenge in their work, but it needs to be challenges they want to take on. How do you find out? You simply ask them. Great managers regularly have discussions with their staff about how they are going at work, strengths and interests they would like to develop, and challenges they would like.

Mentoring is also a great way to help team members to develop. In every team, there are star performers and experienced staff who would be more than happy to mentor others. This not only gives them the feel-goods in helping others but also variety in their work. There are also some advantages to using mentors outside your workplace.

Training programs can also help to build on the strengths in your team. Team members will always benefit more from training in areas they themselves have identified as a need. So consider asking your team what they would like to learn or what challenges they are having that could be addressed in a training program.

So that’s it. Start talking with your team members – offer them variety, encourage their strengths and interests, give them a challenge, and offer mentoring and training opportunities.

Ultimately, your team is only as good as the time and investment you put into them.

Guest Author:

Ken Warren is Australia’s leading speaker on Dealing with Demanding, Aggressive and Unmotivated People. With his engaging, interactive and positive approach, Ken has shown thousands how to turn difficult people around and bring out their best.

 

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com.au/subscribe/

Finders Keepers – Losers Weepers

How to attract, retain and develop your talent. A must read for all leaders and managers – if you want to keep your best people away from the head-hunters and weekend papers!

Finding talented people isn’t all that hard. Throw a ‘Start Up’ bonus on top of the attractive salary package and they probably won’t say no. Keeping them… now there’s the challenge. And if you thought the ‘War on Talent’ has already occurred, think again. The job market is hot, and the battle lines have been re-drawn. And as far as your organisation is concerned, the fight is on to retain staff who make up those talented individuals who conservatively add at least 20% to the bottom line.

What makes the difference between employee engagement and disengagement?

Make sure your leaders are serving up ample quantities of ‘The Seven Universal Life Requirements©’. They are a recipe for creating employee fulfillment. These seven requirements underpin our ‘value’ system, and leaders are notoriously bad at making sure their talented people’s ‘emotional bank accounts’ are topped up regularly in these areas. Let me explain.

Success leaves clues, and there are patterns in people’s behaviour. Whilst we are all unique and individual, we are all human beings and therefore instinctively similar. You can basically take all the things people value, desire, need, are motivated by, or driven to achieve, and distill them down into seven universal requirements we need satisfied in order to feel fulfilled as a human being.

The seven universal requirements

1. Belonging
   A sense of belonging is a primal urge and requirement. We all long to feel connected to a family, work group, or to belong to a cause. And, of course, we all require love and affection. As one senior leader of a client organisation put it: “The team needs a bit of a cuddle occasionally!”
2. Importance
   As human beings, we all have a need to feel special and significant to someone. To know that we make a difference and we are ‘worth’ something. This is one of the deepest needs humans experience, and the absence of it causes significant issues for many.
3. Absolutes
   We require some absolutes in our life. We need to be certain we can feed ourselves, pay the mortgage or the rent each month, or know with absolute certainty that our partner loves us. Children love us unconditionally – we absolutely know we make a difference in someone’s life.
4. Diversity
   In an apparently cruel paradox, our creator has decided that whilst we need some things to be absolutes, we will also want some variety. We all have experienced the feeling of boredom if life does not serve up some variety and diversity. Variety is, after all, the spice of life.
5. Personal development
   We all have a fundamental requirement to grow. Some people lose sight of this and then wonder why they don’t feel fulfilled. We were designed to expand, grow, and evolve in terms of our capabilities, knowledge and skills.
   Let’s look at people who have started a new career or job. They will tell you they left the old job because they were not growing anymore, and now they feel excited and outside their comfort zone. In essence, their need for diversity is now being fulfilled again and they are growing personally or professionally.
6. Altruism
   This is about making a contribution. We feel more satisfied and fulfilled when we are contributing to someone or something else. We are giving back – a deep instinctive response overlooked by many. A true leader is always contributing to the growth and well-being of their team and therefore making sure that this requirement is met.
7. Faith
   Faith is defined as confidence or trust in something or someone, a belief which is not based on proof. We are not necessarily referring to religion here. For some, this is simply a belief and faith in something bigger. Read any article about why people leave companies and change jobs, and you will frequently hear the feedback “I lost faith in my one-up leader, or the direction the company was moving”.

Note:

• The first four are Fundamental requirements: We will do anything to have them satisfied. We will compromise a value in order to get a ‘Universal Requirement’ met.
• The last three are deeper Spiritual requirements: They are often missing. People can have the first four met, but without the last three they feel a sense of un-fulfillment, and yet often can’t put their finger on why they feel what they feel.

Rules of thumb in any relationship:

• If 2 are met  – Connection occurs
• If 3 are met – Rapport occurs. They like you.
• If 4 are met – They become addicted/they care.
• If 6 are met – They forgive mistakes.
• If all 7 are met – LOYALTY; The chances of leaving are slim.

Some initiatives to keep your talented people engaged – and saying ‘no’ to the recruitment head-hunters:

1. Create a career map or pathway – Document a clear career pathway for your people. Include the skills and competencies they will need to develop along the journey. Design some positive consequences in respect to managing the overinflated expectations of Gen Y.
2. Structured induction training program – Too many companies inadvertently make ‘new starts’ feel like a nuisance. In this time-poor world, many outwardly positive staff send the wrong sub-conscious message: “I have better things to be doing than training you!”. A well structured induction training process is a fast track way to ensure potential talent feels a sense of belonging, connectedness, and of value.
3. Coaching and mentoring program – Implement a structured ‘coaching and mentoring’ program for your emerging talent. This strategy will build a nice retaining wall around your talented people – despite market offers from your competitors.
4. Training and development – Implement a targeted training and development program to up-skill the workforce. It will make your staff think: “Thank you for investing in me. I feel like this company values me. I’m growing personally and professionally.”
5. “Open door” return policy: Promote an ‘open door’ return policy to the valued talent who has succumbed and left the company for greener pastures. Drive from senior levels and have the CEO personally thank them for their contribution to the organisation and inform them of the ‘open door’ return policy.
   Based on the ‘Don’t burn your bridges’ motto, the aim here is to make it easy to re-enter the company, if indeed the grass was tougher to chew! Surprise, surprise. Some good people were welcomed home.

Remember the rules of thumb above – serve up all seven requirements and people get addicted and staff loyalty increases to the extent that it will take something rather significant to move them. If all seven needs are being met, why would you ever leave?

In summary, it seems the ‘War on Talent’ will not be won in the trenches, but driven by a well thought out action plan to retain and engage your talent.

Re-examine how well your organisation scores!

Guest Author:

Ian Stephens. Ian is a sales specialist and peak performance coach. He has a passion for the practical, coupled with an ability to inspire and equip people with simple everyday tools they can apply immediately to make more sales and profit.

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com.au/subscribe/

How Good Managers Can Be Great At Retaining Staff

There are two main areas of influence it is essential to get right to retain employees and keep them engaged and happy.

Employees will stay with you because of two major influences:

1. Policies of the organisation: learning and development, remuneration, performance management and reviews, promotions, and so on
2. What their manager does and doesn’t do, says and doesn’t say … every day

So while businesses will often focus on this first area – and it is essential to spend the time getting it right – policy is only half the story. It cannot work without its twin, which comes from real-life experience, what actually happens in reality with their manager.

And by manager, we’re not looking at hierarchy. We’re talking about people managers – anyone who manages someone else.

Without a doubt, the manager has the single greatest influence over the employee’s decision to perform, to stay, or in fact … to quit. In a nutshell, managers make people stay – and manager’s make people leave.

Good managers who want to be great managers and truly engage their team may feel they need to learn more and reach for a large ‘how-to’ book on being a great manager. They read up, they study. However, there is no article or book in the world which is going to tell you how to retain your specific team of individual people.

The solution is so much easier – you simply need to ask the people who work for you.

Spend time with your people and find out what they need more of, less of, what gets them up in the morning, what really motivates them, what they want from you as a manager. If you ask in the right way, they’ll tell you. Then it’s up to you to follow through. That is the way to be the best manager you can be – for each individual on your team.

As a starting point, here are eight manager secrets when aiming for greatness:

1. Be approachable – visible, friendly and helpful
2. Communicate effectively, regularly and use many channels. Remember sometimes we need to hear the message more than once to absorb it
3. Meet as a team regularly
4. Allow employees to make mistakes and learn
5. Look for opportunities to recognise effort and results
6. Be flexible about work/life demands
7. Give credit where credit is due
8. Be knowledgeable – and share your knowledge

If you have concerns about employee retention, getting the policy side of things right is essential. But don’t leave it at that. Spend as much time on your people managers and what they are saying and doing with their people as you can. Train them with staff retention skills. Encourage them to create engagement plans and have engagement discussions with their team. Give them support and systems to be the best manager they can be.

Creative ideas to practice

Managers can contribute to their teams in so many ways – mentoring, finding opportunities to introduce variety, instilling and encouraging passion, giving enough space, giving enough support … just to name a few.

Here are some practical ideas for managers to start doing today. These small things can make a big impact.

Five creative ideas for reward and recognition which helps managers 

Look for opportunities to recognise effort and results.

1. Personalise your pay slips 

   If geography permits, consider asking managers to hand out/email a personal note with the pay slips, so managers can say ‘thank you’ or recognise a contribution in that time period.

2. Wall of fame 

   If you are in a service environment and an email or letter of thanks comes in from a client, frame it and put it on the wall. This often means a lot to the person or team more so than anything else. Plus, visitors love to read the letters too.

3. Get out of the chair 

   Every day remember to give thanks and recognition to your team. Get up out of your chair and spend time with someone on your team, even just for a few minutes. Phone them if they are in a different location. Ask them about their day, if they need additional help, what they are working on.

4. Encourage bright ideas 

   Try giving out a lightbulb filled with candy to anyone who comes up with a bright idea. It generates excitement and encourages ideas to keep coming in. You could also do something like Karma currency instead – where the organisation makes a donation but the person chooses which charity to support.

5. Treasure box 

   Have a small treasure chest of goodies, such as movie tickets, gift vouchers, book vouchers, etc. Choose someone to recognise every fortnight or so and let them choose something out of the treasure box. May seem a little contrived, but you’d be surprised how well it works.

Four creative ideas for work/life balance

Help managers ‘be flexible about work/life demands’

1. Set the example

   Model balance and share with your team what you do to achieve balance in your life. Do not support workaholism.

2. Put it on the agenda 

   Hold a ‘balance’ discussion at a team meeting, or one-to-one with each team member. Don’t discuss anything else except balance, so they know it is important to you.

3. Ask them 

   Ask your team members what else they have going on in their lives and what matters most to them. Get to know their non-work interests.

4. Show your support 

   Support your employees in achieving balance. Some examples: encourage them to go to their child’s school plays or for a golf lesson or encourage the organisation to support a charity drive for their cause.

Guest Author:

 

Lisa Halloran is the Director of Retention Partners. Lisa’s background includes 4 years in political market research and 14 years experience in HR management and consulting roles in television, maritime, retail, manufacturing and insurance.

 

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox every week. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com.au/subscribe/

Seven Suggestions For Sensational Staff

Apply these seven simple suggestions to nurture your team and you’ll end up with the best team in town!

Quite often when I’m out stumping the speaking circuit a boss with a problem corners me. The problem – “How can I keep my good staff?” and they want an instant solution.

The story is always much the same. They have a terrific team, but they keep losing team members.

In working with teams from many types of businesses, I’ve found that if there are some common elements in place it makes it much easier to retain top performing people. They are:

1. Communication

   High on the list of complaints of team members in virtually every company I’ve worked with has always been “lack of communication”. Most bosses think they communicate well with their staff but that’s not the way the team sees it. Sometimes the only information they get is what they find out on the notorious “grapevine”. Sit down with them on a regular basis and ensure that they know what you know and that they have the opportunity to get answers to their questions.

2. Training

   A perennial complaint is that there’s no point in training people and losing them. Sure, but there’s one thing worse…not training people and keeping them! Frankly, I’m amazed at how few bosses ensure their people are provided with the skills training that they need to perform their job better. This is especially true in areas where team members have acquired their skills “on-the-job” by watching what other team members do. When they get to the level of proficiency of their colleagues, they see the only course open to them that will change their results is to change their employer. It is far better for you to skills train existing staff. By training them you will retain staff.

3. Team meetings

   Great team meetings are one of the most important contributors to a stable, contented and productive team. They need be of no more than one hour’s duration and should always start on time. The objective is to motivate, educate, inform and recognise and to do it in such a way that team members want to be there.

4. Recognition

   A good team leader will look for opportunities to acknowledge the achievements of all performers publicly amongst their peers. The team meeting affords a great opportunity to do this. Private recognition is also very powerful! This can be as simple as sending a personal letter home to a team member just to let them know that they’ve done a great job.

5. Authority and responsibility

   One of the gripes I constantly hear from bosses is that their team members left to take a job with higher responsibility but “if they’d only just waited they would have had the same opportunity here.” Don’t make your team members leave to get authority and responsibility: give it to them soon rather than later.

6. Reward

   Your team members want to feel that their efforts are valued and that they are earning rewards in line with the market. If you’re going to have your team perform, pay them the income they reckon they’re worth and then manage them so they earn it. Over pay your people and establish an environment in which they can over perform.

7. Interesting job

   In the poll of what people look for in their work this was their most important demand. People want a job that has variety and interest. Maybe they see that they are just doing the same old thing day after day with no relief from the relentless grind. Give them an occasional challenge, a nutty problem or an interesting project to get their teeth into that will add variety, flavor and spice to their routine activities. A little bit of curry in a bland diet works miracles.

Guest Author:

Winston Marsh. Ideas are just one of the weapons in Winston Marsh’s incredible business building holsters. You can harness the power of his fantastic ideas at your next conference to fire up your business, people and your profits.

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox every week. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com.au/subscribe/

 

Paying Incentives – Do You Need To?

If an incentive plan is designed correctly and implemented properly it can reinforce the key objectives of the business, support the culture you want and have a significant affect on the performance and profitability.

Let’s start off with some definitions.  

1. Firstly, any base salary review should have a significant focus on performance. If this is done properly the need for further incentives or “performance pay” is often removed.  
2. Secondly, part of the definition of bonus in the English Oxford Dictionary is “over and above that which is normally expected”. We see this as a discretionary payment which a business may give to employees. There is no real contractual obligation to do this. Employees may see this as “cream on the top”, but often are not sure what to do to make sure they get it again.  

We see incentives differently. This is a payment that will be made if certain actions are taken or targets achieved. It is a contractual obligation.  

While bonuses in some businesses, usually small, private companies, can work, there are some downsides. They are usually provided without clear targets being set and they often lead to expectations that they will continue regardless of performance. Sometimes they can make the “giver” feel good but have little impact on employee performance.  

On the other hand, they can build a strong culture within a business when the boss is seen to share some of the gains without any prior agreement to do so. Incentives are far more focused and for this article we will discuss a few guidelines to assist in implementing a plan that works.  

1. The first step is to decide what you are trying to achieve. If it is something employees aren’t doing, but should be, will a financial incentive change their behaviour? Is there some other reason why they are not doing what they should be? If you are clear on what you want them to do and think an incentive will help, try asking employees what they think about the idea.  
2. If you have decided that an incentive is the way forward – to either maintain good staff performance or encourage even further effort – then you need to make sure the measures you have in place align with your business objectives. Don’t set targets based on volume if your focus is on quality.   
3. Participants in an incentive program should have some control over what is being measured. It is not much good providing an incentive for sales if someone has no influence on sales at all. The targets must be challenging, otherwise there is not much point in having a plan, but achievable. Where the targets are never achieved people will lose interest. Where they happen too easily it will be expected each time without any extra effort being expended.  
4. The amount paid must be meaningful – too little won’t make the difference you want.  A percentage of salary is usually best to have a similar affect on each participant. Non-financial incentives such as trips may have a different appeal for individual employees.  

   It should encourage high performers to stay with the company. It should be rewarding, with the chance of it being even more rewarding in the future. Long-term incentive plans can be designed to achieve this more easily than short-term plans. Often a combination of these plans can achieve the desired result, as just a focus on short term profit can deter investment in longer term plans that will bring future benefits.  

5. Participants must be able to understand the measures and what they have to do to earn an incentive. It is no good having a complicated formula that no one understands. It should be clearly communicated in writing so there are no disagreements as to when it will be paid, how much and under what circumstances.  

There should be a review process at regular intervals to determine if the plan is delivering the results you need.  

If these guidelines are followed you stand a greater chance of success than if you approach setting targets and offering incentives in an ad-hoc way. You will also be able to avoid much of the friction that badly planned programs often cause.  

Guest Author:

Paul Phillips, Horizon Management Group.

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered direct to your inbox every week. Register NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com.au/subscribe/

How To Engage Disengaged Employees

The more employee engagement in your people, the better your workplace. And the better your workplace, the better your business. So go out there and “engage” everyone you can.

You work hard. You care about your company, your products, and services. You care about your coworkers and your customers. And you’re constantly trying to do your very best. But you wonder why everybody else in your organisation doesn’t feel the same way?

The reason is simple. They’ve lost their PASSION. They’re no longer excited about their careers and their jobs … if indeed, they ever were. And without that passion, those coworkers will never give you and your customers the results you’d like to see. You’ll get sporadic, mediocre performance instead of consistent, soaring excellence.

Of course, in today’s world, the word “passion” might sound a bit soft or outdated. But it’s not. It’s simply another way of saying that too many workers are “disengaged”. As author Terri Kabachnick says in her book, “I Quit, But Forgot to Tell You”, disengagement is a common, fast-spreading, and dangerous disease that must be dealt with. I couldn’t agree more.

1. The cost of disengagement 

   If you’re a business owner, leader, or manager, disengagement may be killing your business. A recent Gallup poll said disengagement costs businesses more than $250 billion a year! And in many cases, that $250 billion loss is the difference between your profitability and your bankruptcy.Plainly put, you cannot afford to keep a disengaged workforce or even a disengaged employee on the payroll.

   The human costs of disengagement may be even greater than the financial costs. After all, if your staff are just putting in their time, waiting for the day to end, and getting little or no satisfaction out of their job, their whole life is going to suffer. Their outlook on life will begin to sour; self-esteem will go down the tubes; health will be challenged, and relationships will suffer. No one can feel good about themselves when they do just enough to get by, and no one likes to work or live with someone who is a slacker.

   That being the case, you need to know how to spot the lack of employee engagement in those around you.

2. The look of disengagementWhen you’re disengaged, you stop caring about what you do. You stop caring about your work, your job, your team, your boss, and your customers. You do what you know you have to do, but you’ve lost the love of doing it. You’ve lost heart. It’s what I call “Stage One” of the disengagement disease. It’s a somewhat passive stage.

   Stage 2 of the disengagement disease is more active and possibly more dangerous. You become negative and discontent, and you don’t mind letting other people know about it. If the disease is not stopped and cured at this stage, the negativity begins to spread like a virus throughout the workplace, even infecting some of the good, engaged employees.

   Obviously, you can’t allow that to happen. More importantly, you’ve got to prevent it from happening in the first place.

3. Spend more time “engaging” your people in conversationDon’t fool yourself into thinking you’re too busy for this. As author Michael Kardo says, “There is nothing small about small talk”. When you carry on an interesting and meaningful discussion with someone, you’re validating that person. And there isn’t a person in the world that doesn’t want more validation.

   Unfortunately, some of the most disengaged departments are led by some of the most disengaged leaders. They’re unskilled or unwilling to engage in non work-related discussions. No problem. You can learn the art of “engaging” conversation.

   Follow communication expert Marjorie Brody’s advice. Stay informed about current events and professional happenings. Read newspapers and magazines. Learn about the person with whom you plan to speak, especially those things you may have in common.

   Learn what topics are safe and what topics to avoid. For example, the weather and the traffic are tried and true topics for starting conversations. Whether you’ve known someone for two minutes or 20 years, chances are one of the first things you’ll talk about is the weather or traffic. They may not be creative topics, but they break the ice and usually lead to more interesting discussions.

   Generally speaking, you can then move on to other “safe” topics, such as current events, travel, hobbies, sports, cultural events, movies, children, food, restaurants, and possibly work. Avoid such topics as politics, religion, gossip, off-color jokes, your health, your personal misfortunes, and bad mouthing the competition or anyone else.

   To make your conversation even more engaging, use Brody’s 3-part communication system: observe, reveal, and question. With the “observe” method, you can make a positive comment about an event the two of you are attending, the venue, the cause, the food, or the view. For example, “This is a wonderful event. It looks like everyone is having a good time”. You can “reveal” a positive opinion you might have, such as, “That’s a unique tie. I really like it”. And you can get the other person involved with a “question,” such as “What brought you to this meeting?”.

   They’re simple techniques, but they work. They start to engage other people.

4. Keep on teaching your peopleIt will make them feel better about themselves, and it will make them more valuable to your organisation. According to the research, almost everyone craves some reward and recognition. And one of the best, most desired reward, is EXCELLENT training that not only educates but motivates the attendees.

   You see, if you invest in HIGH QUALITY training, you’re telling your people they’re worth the investment you are making. You are affirming their worth. And that always increases their engagement at work.

   Of course, I know there are some skeptics out there who will ask me, “What if I invest all this money in training my people and they leave?”. I answer them by asking, “What if you don’t train your people and they stay?”.

   And then, with their newly gained information and skills, if you want to elicit even more engagement…

5. Give them a chance to make a differenceYou simply cannot have an engaged workforce or an engaged employee if they don’t think their work makes any difference. Indeed, if that’s what they think, you’ll soon notice that they do just enough work to get by.

   You’ve got to give them a chance to make a difference somehow, somewhere. It’s one of the basic laws of motivation.

   When you give people a chance to make a difference they keep on giving their best. So ask yourself, “What are you doing today that helps other people make a meaningful and noticeable difference?”.

Guest Author:

 

Dr. Alan Zimmerman As a best-selling author and Hall of Fame professional speaker, Dr. Zimmerman has worked with more than a million people, helping them become more effective communicators on and off the job.

 

Republished from CEO Online – your online business resource – www.ceoonline.com. Get valuable business tips and easy-to-read articles delivered FREE to your email inbox every week. REGISTER NOW for your copy of CEO Online’s FREE e-newsletter: http://www.ceoonline.com.au/subscribe/