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BUILDING
EMPLOYEE LOYALTY Over the last several years a great deal has been written about the mercenary nature of employees, especially younger employees entering the workforce and those in high-tech disciplines. Our recent studies and consulting point to a lessening of the trend focusing on compensation and more focus on non-monetary benefits, such as time-off. After the well publicized chase for dot-com millions and the realization that few achieve it while many are coming up woefully short, there seems to be an increased realization that "life balance" is important. Several independent studies recently pointed out that time-off is considered a valuable benefit and component of job satisfaction. Tailored or flexible benefits, such as an allowance for child-care or innovative approaches to child-care, are valued because they contribute to the quality of life. One innovative and fast-growing company has developed an approach that takes worry away from employees and provides security to employers. They help to ensure the employee will be available for a critical meeting even if the regular child-care arrangements break down. ChildrenFirst, Inc., a nationwide childcare provider based in Massachusetts, has locations in six states and is expanding rapidly. ChildrenFirst provides a benefit for both employer and employee by being available at a moment's notice to fill a need. No longer does an employee have to worry when the babysitter is sick or the stay-at-home spouse is called for jury duty. A survey of parents using ChildrenFirst's services showed 73% said the availability of backup childcare would influence how long they would stay with their employer. A 1998 Cevidian Performance Partners study estimated that every $1 invested in backup childcare yields $3 to $4 in reduced absenteeism and increased employee retention. In the past, many thought that unique and flexible benefits designed to address specific needs of the individual were only perks of high-level positions. Organizations are realizing that benefits are an important component of developing and maintaining employee loyalty at all levels. They are also realizing that when it comes to addressing employee needs with benefits, one size does not fit all. It is important not to waste money by offering a benefit that is not perceived as a need. It is more important to not fail by omitting a benefit that is needed. Examine employees' needs, and creatively tailor their non-cash compensation to provide great value. How can you do this? The simple way is to ask employees. In an article in the August issue of Association Management magazine that probed "Why Staff Stay," one of the identified elements of keeping staff was making sure the organization met the needs of employees. Benefits are an important area to consider. In a special section entitled "Conducting Staff Assessments" the article also points out the need for regular evaluation of staff satisfaction. Author Gerry Romano quoted a number of things the OUTLAW GROUP does to help an organization determine employee satisfaction levels as well as identify areas of dissatisfaction and how to find ways to eliminate them. Employee Surveys and Assessments have been around for a long time, but at OUTLAW GROUP we are working to link the expressed level of satisfaction with turnover and its reduction. If you can determine employee levels of satisfaction and identify what they are dissatisfied about, you have the ability to change the situation. By being pro-active and continuously assessing levels of satisfaction, problems can be eliminated before employees leave. There is a great rush to make Human Resources functions, especially benefit administration, easier, more automated, and less expensive, since HR spends so much of their time in routine tasks like changing number of dependents and answering questions. There are a number of dot-coms springing up to assist Human Resource departments in managing the process. On-line HR applications allow employees to log on, schedule their vacations, change the number of dependents, and perform similar tasks with the click of a mouse. While they can accomplish routine tasks more easily, quickly, and with less cost, don't assume automation is the answer. It does not ensure the benefits offered meet employees' needs or that key issues are identified and addressed. Before you automate a process, be sure the process accomplishes its purposes. Before you further separate the employee from the HR professional, make sure issues are being addressed and communication in open and flowing. Take
the time to examine what employees want from their job and how satisfied
they are with the rewards they receive for performing. An assessment
of their satisfaction level can be as simple as taking the time
to frequently talk with employees, or it can require a more organized
and consistent approach such as an Employee Attitude Survey with
regular and periodic reassessment to measure progress. Whether you
use an outside firm or do it yourself, it is essential to stay in
touch with your employees and how their jobs are meeting their needs.
For more information on how to book Wayne for your next event contact us - Click Here Outlaw Group, Inc. 900 Johnnie Dodds Blvd. Suite 115 •Charleston, SC 29464 • 800.347.9361 • fax 843.881.1758 • info@outlawgroup.com www.outlawgroup.com ~ www.wayneoutlaw.com ~ www.smartstaffing.net |
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