It’s expensive to attract, train, and replace employees: the Bureau of National Affairs estimates that turnover costs U.S. businesses over $11 billion annually. The non-profit workplace improvement organization Catalyst estimates it costs between 50–60% of an employee’s annual salary to replace them, with total costs* as high as 150–200%, depending on their position in the company — and it will take an average of 52 days to do it.
From fake news and social media feeds, to the financial markets, and now hiring, the impact of algorithms is being talked about a lot lately. A recent column published by the Harvard Business Review, “Hiring Algorithms are Not Neutral”, highlighted some concerns. The article states that 72% of resumes are weeded out before a human ever sees them. My most recent column in U.S. News & World Report “3 Ways to Make Sure a Machine Doesn’t Judge Your Job Search” focuses on the impact that hiring algorithms can have on job seekers, and this blog post highlights why employers must also be diligent in looking at the solutions they may be using.
What is it about games that captivate us? Instant feedback, motivation, and keeping the payers engaged are just a few of the many gratifications games can provide.
In great leaders, managing conflict begins as a preferred competency and quickly becomes an absolute necessity. As the pace of change continues to increase, diversity and inclusion strategies abound, and world politics affect business and policy, conflict too will grow. Professionals that can effectively navigate this inevitable tension and controversy will set themselves apart.
It is well within your reach to achieve profitable growth, engaged employees and properly developed leadership in addition to more within your organization. It all starts with the right investment. An investment in your team. Let’s look at three tips that can help make your business wishes come true.
Candidates act more and more like consumers in their search – and research – for a career, which means there are more and more touchpoints that influence their decision of where to apply and where to accept an offer. If you don’t understand source of influence, you can’t understand the candidate journey!
Since joining Visier, I’ve been thinking a lot about the value of workforce analytics. I came to this organization because in my prior life as a researcher, my core focus was HR technology adoption and the value organizations derive from it. In fact, a consistent finding from the annual Sierra-Cedar HR Systems Survey (which I managed for 16 years) was that “organizations with workforce analytics outperform.”
Increasing diversity and inclusion in the workplace takes true commitment from the entire team to get it right – top to bottom, and everywhere it between.
Succession planning is a focused program of keeping talent in the pipeline for the evolving roles that matter most to companies for the future. With thoughtful dialogue and participation, succession planning can be one of the most effective tools for leadership development and business growth. When handled poorly, it can be a waste of time and other precious organizational resources.
A great leader possesses these seven core competencies. Does the president's background in business afford him these skills?
Increasingly, the product being exchanged across borders is data and information. Unlike physical goods, the trade of information requires a level of human interpretation to translate, analyze, and apply the data.
In the year-end scramble to pass the GOP Tax Cuts and Jobs Act, one of the more contentious negotiating points involved provisions for pass-through entities such as sole proprietorships, partnerships, and S-Corps. When the dust settled, the final version created powerful incentives for workers to capitalize on tax savings and jump headfirst into the gig economy.
Creating and implementing newer, faster, more accurate and cheaper products and services requires coexistence between those who protect existing products and services and those who create the new and different.
People are often the greatest expense, and without engaged employees, companies are simply unable to perform at their best. The concepts around employee recognition have evolved from a “nice-to-have,” into a strategic tool that drives business outcomes.
Let workers rebel! Harvard Business School Professor, behavioral scientist and author Francesca Gino believes letting employees cut loose is the key to find balance between conformity and nonconformity. Once that balance is established, a company’s employee engagement level will soar, and it will stay that way, too.
What makes a good manager? The traditional “career ladder” model suggests that managers are chosen from top individual contributors, and then those individuals continue to climb a fairly straightforward path until senior leadership. Today, the role of manager is more than a stop on a career trajectory.
Today’s business landscape is more global than ever before, and organizations must develop internationally-oriented leaders in order to be competitive in the market. BPI group’s Michael McGowan, Managing Director, Leadership & Talent, and John Blyth, Executive Coach, shared their insights on how to identify and develop global leaders to drive organizational success.
The Gaussian distribution aka the bell curve has unwittingly become the most important mathematical function for HR professionals around the world. It stars in one of the most important HR processes – performance management; and consequently goes on to determine compensation. However, in recent time, more and more organizations have begun to question Gaussian’s presence at the workplace. Meanwhile, there has been an elder brother hiding behind the curtains who is finally ready to steal Gaussian’s limelight.
Change is an inevitable component of growth for organizations across every industry. And, while embracing the status quo may feel more convenient than confronting it, disruption is a driving force in successfully transforming organizations around the globe.
People the world over are watching intently as a new U.S. presidential administration goes through its staffing up process, taking notes and names as to who’s in, who’s out, who’s on the fence, what the relative merits of each candidate are, who’s calling the ball, the list goes on. One can only hope that the behind-the-scenes process used to vet and select candidates is as serious as the reporting of it.