We often hear the term ‘corporate culture’ in our office or corporate life. Companies around the globe, especially in South East Asia are focusing on building strong workplace and corporate culture. 88% of employees believe organizational culture is an important aspect of their work life. Gone are the days when the conventional workplace ethics and consulting methods work. Now is the time to adopt a more dynamic workplace culture.
A well-defined employee retention methods will have a positive and significant impact on the turnover rate of your organization.
According to the Leigh Branham, the Strategic Planning Consultant, more than 70 percent of the managers tend to think that it is the pay that causes an employee to leave. On the contrary, about 88 percent of the employees tend to leave respective jobs not only because of pay but also other factors that may include:
- Employees often feel the workplace or job doesn’t match their expectation before joining the firm.
- A mismatch between the job and the skills held by the employee.
- Minimal coaching with no feedback for the same.
- Minimal advancement or growth opportunities.
- Employees feel devalued or unrecognized.
- Minimal work-life balance that causes stress.
- Loss of confidence or trust in the senior leaders.
From the military to start-ups, leaders always want to know the secret sauce to help their teams perform better. This has driven the birth and evolution of performance management systems.
But what is a performance management system?
Why is it important?
Why do people seem to hate existing ones?
And, how can we build one that employees will love?
Today’s workforce looks less and less like it used to. 95% of TAFEP’s 2014 survey said that they work in multi-generational teams, that has members aged anywhere between 18 to 70.
Let’s face it – humans were not built or meant to be robots. We were not made to be repeating the same things over and over again. Rather, we were meant to innovate and improve processes as time goes by.
In an earlier post, I covered the potential of pulse survey data to unlock the secrets of employee motivation and retention. Google, Amazon, and Adidas, among others, have already reported making strides in this direction.
The concept of employee engagement is nothing new -- it’s been floating around for decades. Most firms know that engaged employees stay longer, strive to work harder and produce more.
When it comes to creating employee engagement, 87% of organizations cited it as being one of their top priorities. An estimated 66% of companies survey their people regularly. Yet, in their 2017 global study, Gallup finds that only 15% of employees are engaged at work.
You may have already noticed it, subtle changes in your office space allowing you to concentrate more. Your boss being that little bit more concerned about your professional growth. Maybe it's also gotten just that bit easier to get your application for time off approved 2017 has seen people analytics arrive "with a vengeance": this year, 69% of companies studied have been actively taking steps to improve the way they look at people data, compared to only 10-15% before.
If managers are able to effectively analyze and predict staff needs accurately, making the office environment more productive, improving career development, and implementing human resource processes should become much easier.
The increasing adoption of human resources (HR) software has helped streamline the data analytics process and expedite “social connections” by providing management with the speed to act on these real-time and actionable insights.
With this as a strong foundation for progress, 2018 promises to have some radical changes to the HR landscape.
If you dread changing your HR software, you are not irrational. Implementing a new system in human resources often runs the risk of budget deficits and delays, as shown in this Bersin by Deloitte's research. A software vendor could promise you the moon (e.g., saving time, reducing cost and increasing productivity), yet many new technologies failed to meet business requirements.