There’s an Employee Appreciation Day?

Did you know last Friday, March 2 was Employee Appreciation Day?  Yep, just one day on a random Friday that I guess probably went unnoticed by your boss or at your office.  And thank goodness it did.  Can you imagine celebrating Employee Appreciation Day when your company doesn’t appreciate employees in general – makes for an uncomfortable pizza or cake party?  Reminds me of a client meeting last year when it was mentioned that “Administrative Professionals Day” was coming up and they all quickly grabbed their phones and made a note of it. It’s like grandparents day too.  If it takes a day for you to recognize and thank your employees or assistant (or even your grandparents)…you might be dealing with a bigger problem. 

Why does it take a publicized day to remind you to thank those who make your life better (assuming your employees, assistant and grandparents actually make your life easier)?  In theory we understand the statement that companies don’t function without their employees is true but sometimes theory and practice couldn’t be farther apart.  You, and every boss or leader at your company should be showing your appreciation to employees often and for reasons that matter.   So what are the reasons that matter?  Here’s a bright idea…ask them.  Those employees can be quite clever and they typically know what matters to them in terms being recognized because they are appreciated.  I’ll give you a few ideas to get started when recognition and appreciation is needed…taking on a stretch project no matter the outcome, going above and beyond the “typical” work load, coaching or mentoring another employee, dealing with a  difficult client, trying to stay focused on work when dealing with a personal issue…and there are so many more. 

Also, don’t show appreciation for just showing up – that is hollow and meaningless.  One of the greatest ways to show appreciation is to thank your employees individually for their contribution and explaining how their contribution matters to the company.  Make the connection to how they matter to the work they do, to the company’s clients and the company overall.  When you are able to consistently show your appreciation you’ll never think twice about a throwing an awkward pizza party on some random Friday in March to remind your employees you care and they matter.

Culture vs Strategy…Who Wins

So what is more important, culture or strategy?  You know you need both but which is more important? If you’ve ever heard one of my employee engagement or generational diversity presentation you know what the answer is and you know why.  As said best by Peter Drucker: 

“Culture eats strategy for breakfast.”

Research abounds regarding how culture impacts the success of a company – its profitability, its ability to innovate, and gain market share.  I recently read Derek Irvine’s blog post on TLNT “4 Reasons Why Culture is More Important than Strategy.” In the post Derek highlights recent research from Booz & Co. which adds more data and statistics to the “culture vs. strategy” debate.  Booz & Co. reports “that companies with unsupportive cultures and poor strategic alignment significantly under perform their competitors…. In fact, companies with both highly aligned cultures and highly aligned innovation strategies have 30% higher enterprise value growth and 17% higher profit growth than companies with low degrees of alignment.” [Read the article, Why Culture is Key in Strategy +Business.] 

I wonder how many business leaders, CFOs and board chairmen and chairwomen read those stats and actually believe them.  Do they think the P&L or expansion plans are the only facets of the business that matter?  I mean matter enough to garner a healthy dose of their attention?  I’m sure some thought is given to the office atmosphere but culture is more than that.

Culture can be defined in many ways (as the research abounds so do the books on the topic). A consultant and friend defined culture once as “…how we treat our co-workers.” But at the heart of it culture sets the tone of how the company operates and functions.  Culture manifests itself in seemingly everyday ways – like how the office is decorated, the stories employees share (especially to new employees), and the informal communication style.  And culture manifests itself in larger ways – like the values (and unwritten rules) the employees embrace and live out and the type of person (a hero) employees look up to.

The research supports it, the management gurus speak to it and past experiences prove it’s worth (ask anyone of the risk taking culture embedded at Enron)…is your leader on board?  Are you?

Employee Engagement Wish

My wish this holiday season is not very simple. I wish that every employee enjoyed going to work. That doesn’t mean every day is a holiday but when asked if you enjoy what you do you would be able to honestly answer “Yes.”

Research shows you are engaged to a job, career or the work you do in three ways…

1. To your individual job – the function of your work, having resources and clear direction

2. To your manager – trust in your manager, quality time

3. To the company overall – the direction of the company, how decisions are made, comp & benefits

When one of the three falls out of alignment an employee becomes less engaged, less committed, less satisfied and most importantly…less productive.  The reason I started Randall Research (formerly SBR Consulting, LLC) is to help companies create work environments where employees want to come to work.  We spend a majority of our time working so it should at the very least be enjoyable and fulfilling, right?

Research shows that engaged employees outperform their disengaged co-workers by as much as 200% and are more productive by 43% in revenue generation.  What does 43% more revenue generation mean for your company’s bottom line?

Think back to a time when you enjoyed your job (maybe that time is now for you).  How productive were you? Were you willing to go above and beyond for your team or to meet organizational goals? I believe that a small team of engaged employees can outperform, out-maneuver and out-smart a big team of partially engaged or dis-engaged employees.

I explain engagement this way…engaged employees stay for what they contribute and dis-engaged employees stay for what they get.  Which do you prefer on your team?

So my wish for 2012 is for companies to get serious about understanding what engagement means for their employees and commit to making progress.  Start with an employee engagement survey, share the results with your employees, together create a roadmap for change and hold the company accountable through metrics for moving the needle. 

Here’s to a successful and engaging 2012!

Guest Blog Post: Mobile & Social Recruiting

Every blue moon or so I post a guest bloggers thoughts on this blog…this one is interesting as Kyle Lagunas looks at the difference of mobile and social recruiting.  It is more tactical in nature than I share in this space which is why I find it interesting. Remember that the act of recruiting talent is the first important step in the employee engagement experience.

Recruiters have always been quick on the uptake when it comes to new and innovative technology, especially if this technology makes it easier to stay connected. Lately, there’s a lot of buzz surrounding social recruiting and mobile recruiting – and many recruiters are blinldy jumping on the bandwagon. But what’s just buzz, and what will become a permanent part of every recruiter’s toolbox?

Mobile Recruiting, Mobile Recruiting & Social Recruiting

What, exactly, are mobile and social recruiting?

–Mobile recruiting can be used to describe two things:

• Tools and best practices for managing the recruiting process on the go
• Recruiting strategies that leverage SMS, QR code and mobile technology

 –Social recruiting refers to strategies leveraging social media outlets for recruiting talent.

• Some argue that it’s  reinventing the wheel, but I’d say it’s taking the wheel and bringing it out of the Stone Age.

 Mobile Recruiting: Apps and More

Mobile recruiting allows recruiters to do what they do best: stay connected. How? Apps. There are a few recruiting apps that I really like:

• JobScience puts the functionality of an applicant tracking system in recruiters’ pockets.
• InstantCustomer is a handy gadget for business card and contact management.
• GlobalRecruitingRoundtable gives users access to top industry news and trends, and allows them to plug in to a community of experts.
• JobSpeek adds a new dimension to job postings: audio.

Mobile SMS and QR code recruiting is getting some serious attention. However, recruiting leader and sourcing consultant GeoffPeterson says, “The technology’s not 100% there.”

Social Recruiting: Plan for Your Slice of the Pie

Recruiting has always been social, but social media has opened a new can of worms. And if you want a piece of the social recruiting pie, there are a few things you should keep in mind:

• You need a strategy. You may have a Twitter account, but that doesn’t mean you have a social recruiting strategy.
• Don’t bombard, engage. Anyone can post “an exciting opportunity” on LinkedIn. If that’s all your using your social media accounts for, however, you’re going to lose your audience fast.
• Keep the social in social media. You can get all the Facebook fans and Twitter followers you want, but unless you’re engaging your network, they’re just numbers.

About the Author: Kyle is the HR Analyst at Software Advice. He blogs about trends, technology and best practices in HR and recruiting by day, and drinks entirely too much wine by night.

Did the PwC Chairman read my Accounting Today article?

In October of last year I published an article in Accounting Today magazine titled “Managing the Millennials…Firms must deal with their changing expectations.”  In the article I discuss how accounting firms are finding themselves stuck between the way the business has been run for decades and the changing expectations of Millennials as they consider their long-range career track. I made the argument that :

“Accountants and auditors are valued precisely because of their deep knowledge and expertise, so radically altering the business model is unrealistic. Yet the looming demand for accounting services and the shrinking talent pool give urgency to finding ways to accommodate the expectations of young workers.” 

Millennials want to develop their skills, be challenged and not pigeonholed into one job or function for the rest of their career (sound familiar?).  Cross-training is considered a valuable growth opportunity as Millennials develop skills that give them mobility. In the article I urge accounting firms to start the conversation now on how to better grow and develop this need in their young talent. 

Well is seems the PricewaterhouseCoopers Chairman Dennis Nally may have read my article.  In a recent issue of The Wall Street Journal, when asked what is the biggest challenge for companies when trying to recruit talented staff, Nally responded with:

“This millennial generation is not just looking for a job, they’re not just looking for salary and financial benefits, they’re looking for skill development, they’re looking for mobility, they’re looking for opportunities to acquire different skills and to move quickly from one part of an organization to another. How you manage that sort of talent and how you deal with their expectations is very different from what’s been done in the past.” (July 11, 2011, “PwC Chairman Aims to Keep Millennials Happy”)

Mr. Nally – I couldn’t agree more and if my article helped you formulate your people strategy I am pleased it was of use to you. To other companies, not just accounting firms, it is time to understand how the needs of the Millennials regarding career growth and future expectations are changing your workplace and workforce. 

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*Please note – SBR Consulting, LLC is becoming Randall Research… Data-driven solutions for people-driven companies™.  Our services have not changed but our new name better reflects our core mission of using data to drive employee engagement and productivity.  Our new website will be www.randallresearch.com. *

A University Recruiting Perspective on Millennials and the Recession

Our expert series continues with a conversation with Lisa Simmons who is the assistant director of recruiting for the Schools of Business at Wake Forest University.  Our research uncovered interesting findings on the value of education and degrees and Lisa provides insight from her perspective of working within higher education.  Enjoy!

Q: As the Assistant Director, Recruiting for the Wake Forest Schools of Business, what were your initial reactions to the findings in the white paper? 

A: Actually, several points really struck a chord with me.

• Distrust of “big business“ – Millennials hold out a larger and more holistic ideal for companies than the profit motive.  Their model business is engaged in sustainability, diversity, and is giving back to the community. By and large, they are people and not profit focused.  They believe in “doing good” and expect to be treated as a human being and not a commodity by their employers.  
• Dissatisfaction with current employment – Your findings about Millennials actually reflect that of the larger American workforce.  So, while this was no surprise, it did reinforce the belief that college students need careful career exploration and a career plan.  
• Doubt about cost versus value of college education – This has been in the news a lot lately.  Parents, students, and even various pundits have been discussing the issue.  There is no doubt that college can be an expensive endeavor.  Yet, without a degree, it is difficult for young adults to find work and then to grow.  That’s not to say that it cannot happen; only that it is very rare. It is just very difficult to get a foot in the door of a company without the requisite education.  

Q: From your perspective, what are some best practices employed by Wake Forest University Schools of Business in preparing students for the “real world?”

A:

• Focus on lifetime career management – Our career staff provides students with the necessary tools to manage their career and job search, not just while in college, but for a lifetime.
• For-credit career education – Career education is a mandatory part of the curriculum.  While academics are of supreme importance, the student’s ultimate success will be measured by employment.
• Four P’s Program – The career coaching staff trains students in the Four P’s of Purpose, Passion, Preparation, and Performance, which is a solid foundation for career contentment and achievement.
• Dedicated Employer Relations – Having a dedicated staff allows full-time pursuit and development of employer relationships.  Some models I have seen place the responsibility for employer relations on the career coaching staff.  That leaves less time for specialization in either area. 
• Mentorship Program – Career staff carefully pair corporate volunteers with students to provide a more rounded real-world experience.
• Supportive administration – Our administrators understand the importance of student success in our own success as a school.  They supported the building of a career staff that could meet the needs of students.  Wake Forest Schools of Business was featured in a June 10, 2011 Inside Higher Ed article entitled MBA in Job-Hunting?

Q: Do you find that students ask different questions than students did 5 or 10 years ago regarding the ROI on their college education investment?

A: It’s my opinion that the value of a college education has not changed but the perception of its value has in the weak job market.  A college education has been understood to be the usual gateway to the “American Dream.”  It is a door opener and a box that must be checked for many jobs. While it is still true that a college degree is a necessary step on the path to a career, given the state of the job market, some students (and even parents) may have begun to doubt. 

The competition for jobs is high.  Job seekers not only need a degree for many jobs, but also must be competitive in job seeking. It’s like the adage, “I don’t have to outrun the bear, I just have to outrun you.”  Thus, job seekers need to outpace the competition.  The resume, elevator speech, and interview skills must be polished.  The candidate needs to be able to relay his or her value to the employer.  In addition, the candidate should be able to demonstrate knowledge of the company, industry, and competition.  That is why university career services offices are crucial to student success.  

Q: As mentioned in the white paper, there have been numerous recently released statistics regarding people looking to make a move and my research showed 70% of Millennials were considering the possibility of changing jobs.  As someone on the ground floor working with the Millennial generation, what is your reaction to these type of statistics?

A: I think there may be a few factors at play here.  First, as students step out into the world for the first time, they may learn that things are not quite as they once imagined.  Reality may shake apart previously held idealistic views when they finally get on the job.  Perhaps the job that they thought they wanted no longer seems to be a good fit, or maybe the industry in which they are working is no longer desirable.  Of course, the current economic conditions are not facilitating employee satisfaction by and large.  The temptation for employers is to try to do more with less, and this usually falls on the shoulders of the employees via increased workload, light to non-existent raises, few promotion opportunities, and benefit cuts.  There may even be inadequate funds for professional development and other needs / programs.

Another reason that Millennials might be unhappy is that they did not receive enough career assistance while in college.  Either their school did not stress career management or students never believed it to be necessary.  They may have taken the first job offered rather than having set and pursued a goal throughout college, culminating in a close approximation to their dream job.  How many undergrad students become engaged with career services when they are freshman or sophomores versus the last semester of their senior year when graduation is knocking on the door?  How many graduate students ignore the career resources at their disposal? The temptation may be to pursue the academics and let the career development take care of itself.  Unfortunately, that strategy works best at or near full employment and not during a recession. 

Wake Forest is concentrating on the development of the whole person since the launch of the Office of Personal & Career Development. Likewise, the Wake Forest Schools of Business, faculty and staff are very involved with students because our success is measured by their success.  Thus, shortly after orientation, our career staff begins to expose students to the work world through industry panels, company information sessions, company site visits and trips, practical learning opportunities and other career education opportunities.  In addition, they assist students in putting together a plan and a brand and provide a mentor.  This leads to more informed career decisions that are likely to boost eventual job satisfaction. 

Thank you Lisa for your time!

Expert Interview Series: Market Movement

Our expert series continues with a Q&A with Melissa McGuire, CEO and founder of Sherpa.  Sherpa is a Charlotte-based staffing, recruiting and consulting agency focused on the fields of accounting & finance, technology and project management.  You can find them online at www.sherpallc.com. 

Q: As mentioned in our white paper (The Millennial Generation Today: The economic environment impact to recruitment, retention and engagement), there have been numerous recently released statistics regarding people looking to make a move and our research showed 70% of Millennials were considering the possibility of changing jobs. What is your reaction to these type of statistics?

A: I believe the statistics. First of all, I believe a large percentage of all employees are considering changing jobs. Never before have I heard so many people express so much stress about their jobs. Most have worked harder than ever during the recession and have received fewer rewards: lower or no bonuses, less 401k matching, less job security, higher health care costs, etc. Additionally, because of fears of layoffs and pressure to produce results has lowered morale in many companies. I don’t track millennials because I don’t look at age when evaluating people, but those newer to the work force are likely to be disillusioned with their jobs and believe there are greener pastures. However, I do believe that most will find better times if they stay in their current jobs. But, the trust has been broken, so many will probably leave.

Q: Do you see movement of those currently employed starting to pick up or has it held steady throughout the recession?

A: I have seen people very reluctant to change jobs during the recession. Instead, they hung on to them, even if they didn’t like them. It is the increase in confidence in the economy that is creating the environment for job changing. There are more jobs to move to and there is a little less fear of being the “last one in” at a company, which is the fear that they could be the first one out if the company had layoffs.

Q: When your recruiters contact passive candidates (those currently employed) are they more willing to consider an opportunity you may be calling about than they were 2 or 3 years ago?

A: Definitely.

Thanks Melissa for taking the time to answers our questions.  We appreciate your insight and know the statistics have some of those responsible for retaining their current talent very nervous. 

As a reminder, the white paper is available for download at www.sbrconsult.com.

New Research Release: What we need to know NOW about our largest generation

The Millennial Generation Today: Impact of the economic environment on recruitment, retention and engagement white paper is available online at www.sbrconsult.com.  The white paper is available complimentary.

Almost 1,200 Millennials (21 to 30 years old) participated in the national online survey to gauge how this generation feels about working in corporate America, thoughts on future employment decisions, and changing consideration of what’s important about work and their future. 

So what did our survey find? Here are a few key highlights…

• We have entered a “flight pattern” of workers wanting to find new employment opportunities. 70% of Millennials say there is a possibility they will change jobs.
• Women are more likely than men to consider leaving.
• Top three priorities are compensation, flexible work schedule and opportunity to make a difference.
• Despite the economic reality, 70% are positive about their future in general.
• Only 41% make saving for retirement a priority.

Results include findings on Millennials and the Workplace (will they stay or go, what’s important and the continual layoff affect), the Education Debate (high cost versus ROI and does your degree work for you?) and Future Visions (retirement, entrepreneurism and CSR impact). 

Take a moment and read through the white paper and then let us know your thoughts on the results.  We look forward to engaging in conversation with you.

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Follow our blog over the next few months as we talk with experts from areas related to our findings to dig deeper into the story of our data.  Up first is Shay Prosser, author of Get It Together – The Real-World Money Guide for Graduates.  She’ll discuss her thoughts on the retirement findings and the financial impact of our new economic normal on this generation. Look for her blog interview on Monday, May 23, 2011.

A Generational Leadership Vacuum?

Recently I co-presented at an event with a Dean of a Liberal Arts program on how colleges and universities are teaching students differently today and the impact that has on companies regarding development, training and work performance.  Keep in mind, for the most part, when we discuss traditional college students we are talking about the Millennial generation (born 1980 to 2000). 

But what our presentation was about is not nearly as important as the question I was asked by another academia at the end of the program.  The question was about the leadership vacuum being created within the Millennial generation.  Specifically the attendee wanted to know my thoughts on how the Millennial generation would lead one day and if we have a generation that will not be able to lead well. 

I’m not exactly sure how I answered because to be honest I think the question may be premature.  Isn’t it natural for an older generation to wonder and question – out loud – if the generation younger than them will be able to take their place one day?  When Generation X entered the workforce didn’t the Baby Boomers and Traditionalist question if we would have the work ethic to show up on time, day in and day out (remember they did call us ‘slackers’).  Now the Xers can’t wait for the Baby Boomers to hurry up and get out of the way so it can finally be their time to be in charge. 

And when in your 20s don’t you naturally make mistakes when it comes to leading or even working with your co-workers, typically your peers, and begin to develop your leadership style in the early part of your career?  Is there an expectation being set today that the Millennials should be able to graduate one day and shortly after assume the helm of a team, project or division and be successful at it?

When we discuss a leadership vacuum, is there really one?  If you look around your company how many people do you think would like to move into a leadership role? Could you make an accurate assessment that is not solely based on your subjective opinion?  And of those ready for a leadership role which ones have been trained, coached, mentored and held accountable for developing their leadership skills?  How many have received accurate and timely feedback on their behaviors and abilities?    

How many Millennials are receiving this kind of training and development now?  If you want them to lead for some future “tomorrow” don’t you need to invest in them now?

Drivers of Employee Engagement

If you have not watched the 10-minute YouTube clip by Daniel Pink on motivation you need to.  It sums up what motivates workers, backed by research and replicated by scientists (which means it has the academia seal of approval).  The clip, in conjunction with RSA Animate, is titled Drive: The surprising truth about what motivates us.  

Don’t have time to watch the clip?  Here is the cliff note version with a focus on three key drivers of motivation and engagement. 

Autonomy – Listen closely to part about Atlassian (an Australian software company) – once a quarter on a Thursday afternoon the company allows employees to work on whatever you want, the way you want, with whomever you want (beer and cake included) for 24 hours.  The only caveat – employees are asked to share the results of what they worked on with company at end of 24 hours (one day).  Providing freedom and autonomy has yielded amazing results for the company including new products, fixes to existing software, etc. 

Mastery – Why do highly skilled, technically sophisticated people who have paying jobs spend their limited free time doing equally or more technically sophisticated work for FREE?  Because they want and like challenges and want to master a skill like learning to play an instrument on the weekends. 

Purpose – The need is not just for work to matter but for the work to have purpose, transcendent purpose.  It makes coming to work better and attracts better talent.  “When the profit motive become unmoored from the purpose motive – bad things happen like crappy products, bad service, and sometimes illegal acts.” 

When you consider the three key drivers to motivation – how does your company stack up in creating a culture that embraces giving employees autonomy to do their job, the resources to master skills and purpose in the work one does?  It’s a tall task and if it is not embedded in the culture it won’t happen overnight.  The first step is to acknowledge the current practices around these three drivers (micro-managers beware), determine where the disconnect and gaps are and then consider creating an action plan to put autonomy, mastery and purpose into your leadership’s vocabulary and then into every day practice.  

What motivates or drives you to be a contributor at work?

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As a reminder, SBR Consulting’s e² survey (employee engagement matters) measures how engaged and motivated employees are and where a company should focus their resources to have the greatest impact to engagement, retention and the bottom line.  Call me at 704.363.7151 or email me at stacey@sbrconsult.com for more information or to get started.