Are your employees empowered? The “empowered workforce” is a popular trend that has recently caught on, especially among millennials who are looking for more than just a high paying job when planning their careers. You may have even heard it debated in your office as a way to re-focus, engage, and motivate your employees.
Like many new workplace theories, what the term ”empowered workforce” actually is or means can be somewhat vague. The simplest definition suggest that it involves engaging and motivating your employees, but there is a lot more to it, and its impact can be more far reaching than you realize. Read more
In a last blog post, How to Recruit Millennials, we discussed the importance of starting to recruit millennials today because they are the executives of the future. We outlined things you need to know about this segment of the workforce and some tips for how to recruit and retain them.
One of the key takeaways from this post was that companies need to create a strong organizational culture that is appealing to millennials. A great company culture will attract top talent in any industry regardless of age or experience. Read more
Start Recruiting the Next Generation of Executives Today
Recruiting millennials is a hot topic these days. As today’s executives, CEOs and corporate leaders begin to retire, millennials are on the cusp of becoming the driving power of the workforce.
Millennials are now moving into middle and upper management positions, and they will hold executive level positions in the near future. Some already do. In fact, by 2020, millennials will make up 50% of the workforce.
Nearly ten percent of Fortune 500 companies have done away with annual performance review, says Cliff Stevenson, a senior research analyst for the Institute for Corporate Productivity, a research network that studies management practices, to the Washington Post.
“The snowball has started rolling,” he said. “I would not be surprised to see next year when we do the large survey again that it may jump into the twenties.”
In total, just over half (52%) of all companies conduct some form of performance review, but most are failing to take advantage of advanced technology to gain insights into the effectiveness of their workforce. Read more
Canadian employers are faced with a new challenge – employees who are “happy but leaving.” According to a recent study from Mercer Canada, more than one-third of Canadian employees are seriously considering leaving their current company, and senior managers are more than twice as likely as non-management employees to consider leaving. Overall, 56% of employees in Canada who are satisfied or very satisfied with their company are considering leaving at the present time.
To mitigate the risk of losing critical talent, organizations must let go of the traditional belief that happy and engaged employees means retention, and instead adopt new employee value proposition. Read more
The direct correlation between compensation and retention has been well documented over the years. Pay your employees more, and they are more likely to stay and perform. But what happens when you can’t pay them more? How do you keep your best? This is exactly the dilemma that a lot of Canadian companies are facing going into 2016.