Author Archives: Larry Janis

Motivation Up, Attrition Down: Employee Engagement

 

 

 

by Mathew Bidwell

 

 

Nano Tools for Leaders®  — a collaboration between Wharton Executive Education and Wharton’s Center for Leadership and Change Management — are fast, effective tools that you can learn and start using in less than 15 minutes, with the potential to significantly impact your success and the engagement and productivity of the people you lead.

The Goal

Strengthen the bond between your employees and your organization.

Nano Tool

The success of your business depends on many factors, but arguably none matters more than the talent and performance of your workforce. That’s because, according to the Society for Human Resource Management, employees have a profound effect on those other factors (think customer satisfaction, company reputation, and overall stakeholder value), both positively or negatively, depending on their level of commitment and connection to your organization.

A renewed focus on engagement — which can significantly affect employee retention, productivity, and loyalty — is especially important in a tight labor market, in which you are competing for talent with rival organizations and the cost associated with onboarding new employees is at an all-time high. Improving engagement can also result in significant saving, as it has at beverage giant Molson Coors, where highly engaged employees were five times less likely than nonengaged employees to have a safety incident and seven times less likely to have a lost-time safety incident. By strengthening employee engagement, the company saved $1,721,760 in safety costs in one year.

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Three “Bad Boss” Habits to Avoid in 2024

 

 

 

 

by Graham Ward

 

Resist the urge to emotionally detach, control outcomes or blindly comply.

As the new year swings open its doors, promising a fresh start and a burst of motivation, it also brings the daunting prospect of having to do it all over again. Despite our best efforts to lead with empathy, authenticity and clarity, we often find ourselves slipping back into bad habits that can frustrate our teams and harm our organisations. 

The characteristics of good bosses is a subject of ongoing debate. Countless books are written on the topic each year, many of which offer inconclusive findings. However, certain fundamentals remain unquestionable: a clear vision; a well-defined and aligned strategy; an inclusive, intellectually stimulating, and creative work environment; and a commitment to developing employees to their full potential.

While this looks achievable on paper, events often derail us from our “true north”. When emotions run high, we become susceptible to falling into three mindsets that undermine our effectiveness and erode trust within our teams.

1.The self-protector

These leaders are driven by a need for self-preservation, which manifests as aloofness and a preference for intellect rather than empathy in their leadership approach. For these bosses, displaying vulnerability is considered a sign of weakness. This emotional detachment creates a sense of distance and disengagement among their followers. 

Often found in engineering and scientific fields, these leaders need to recognise that vulnerability is not a weakness but rather an appealing and humanising quality.

Pope Francis is a great example of a leader who has fostered emotional closeness and tried to bridge the distance between himself and his followers. Unlike his predecessor, Joseph Ratzinger, he has made himself a man of the people by making bold strategic decisions that break with tradition and expressing himself with candour and authenticity.

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HR needs to change to meet business needs. Here’s how

 

 

 

 

by Dr. Christian Schmeichel

 

The last few years have forced HR professionals to face a tremendous shift in their functions. Technological advances, business model disruption, a new generation entering the workforce and, not to forget, the global COVID-19 pandemic all contributed to unprecedented change in our world of work. While the HR function was required to quickly implement one targeted organizational intervention after the other, HR leaders have recently been asked to shift gears and adapt to changes in employee loyalty and engagement.

A study by KPMG found that over 60% of HR functions are having to alter their employee value proposition (EVP) in response to the current labor market—one where employees look for the right level of flexible work offerings, learning and growth opportunities, and strong benefits. If their current employer doesn’t meet their expectations, they are willing to switch companies for a better fit. Understandably, this requires HR leaders to shift their approach and design strategies to meet this new challenge.

Here are four key ways to accomplish this.

Prioritize the employee experience

Traditionally, the HR function has been rather siloed: There are specific models for training, rewards and other disciplines that all remain in their particular verticals with very few cross-functional opportunities. With data showing that organizations in which HR facilitates a positive employee experience are more likely to report outperformance, it is time to revisit and redesign those models. (more…)

The ultimate guide to what’s in and what’s out for workers in 2024

 

 

 

 

By Aj Hess

 

The labor market ended 2023 on a quiet note. The most recent Job Openings and Labor Turnover report suggested the number of open jobs, and the number of people quitting their jobs, fell slightly in November. The final jobs report of 2023 revealed that employers added 216,000 jobs (more than expected) and unemployment held firm at 3.7% in December.

However, the past several years have been marked by much louder landmark moments in the labor force. For instance, many will remember 2020 as the year they went into lockdown and learned how to work remotely—or learned how to manage the risk of working alongside coronavirus. And 2021 will likely be known as the year of the Great Resignation; 2022, the year many workers were forced to return to the office.

Perhaps 2023 can best be described as a year of tug of war between leaders and workers. Many CEOs experiencing productivity paranoia threw tantrums to try to force more workers back into office. Meanwhile, more than half a million Americans went on strike to push for better pay and working conditions. And after years of the CEO-to-worker pay gap steadily expanding—CEOs at the top 350 U.S. firms earned 399 times what the typical worker earned in 2021—many workers are aware and angry about the inequality in their workplaces.

Of course, it is impossible to predict the future, but here’s what may be in store for workers in 2024, according to experts:

IN: CONTRACT WORK
In the year ahead, the gig economy is expected to grow. This means we can expect even more gig workers, freelancers, and consultants in 2024.

According to McKinsey, approximately 36% of Americans are independent workers—up from 27% in 2016. And according to the World Bank, demand for online gig work has shot up 41% between 2016 and the first quarter of 2023. And Dan Ives, senior equity research analyst at Wedbush, recently told Fast Company’s Jessica Bursztynsky that we will experience a “golden age for the gig economy in 2024.”

One reason for the expected expansion of the gig economy is because the demand for services like Uber, Lyft, and Taskrabbit remains high. Meanwhile, many traditional industries like IT, healthcare, and legal services are increasingly working with contractors and consultants to lower their labor costs. What’s more, in the face of rising inflation, more workers are taking on side gigs to make ends meet.

While there are certainly many challenges facing contract workers, a recent wave of legislation at the state and city levels is establishing minimum wages, better protections, and more benefits for non-full-time workers. (more…)

Why Good Communication Is Essential to Sales

 

 

 

 

BY JUSTIN ZAPPULLA

 

 

Mark Twain famously said, “The difference between the right word and almost the right word is the difference between lightning and a lightning bug.” His statement, while not meant for salespeople, is a lesson every sales rep would be wise to remember. Selling is fundamentally about communication value. Value can be created through one conversation, one email, or one social media post at a time.

Sales reps who can improve their communication skills enhance their value to their clients and company. In this article we will explore how sales reps can enhance their communication skills, choose the right words, and prevent pesky errors that cost them deals.

More You and Less I

If the goal is to have a productive conversation, the less you talk about yourself, your company, and your product, the more your client will value you. Very often, sales reps begin the conversation talking about themselves with “I” statements.

The difference between “I” and “you” is subtle, but it’s the difference between talking about yourself or talking directly to your prospects. By deliberately removing “I” from your communications, it forces you to think about your prospect. Obviously, we can’t completely remove “I” from all communications and conversations, but, by using it less, we become better communicators. Starting the conversation with “you” is more engaging, don’t you think?

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