There is a serious problem with the way we work.
Most employees are disengaged and not passionate about the work they do. This is costing companies a ton of money in lost productivity, absenteeism, and turnover. It’s also harmful to employees, because they’re more stressed out than ever.
The thing that bothers me the most about it, is that it’s all so easy to fix. I can’t figure out why managers aren’t more proactive about this. Besides the human element of caring for our employees, it’s costing them money, so they should care more about fixing it. Something as simple as saying thank you to your employees can have a huge effect on their engagement, not to mention it’s good for your level of happiness.
The infographic that we put together has some pretty shocking statistics in it, but there are a few common themes. Employees feel overworked, overwhelmed, and they don’t like what they do. Companies are noticing it, with 75% of them saying they can’t attract the right talent, and 83% of them feeling that their employer brand isn’t compelling. Companies that want to fix this need to be smart, and patient. This doesn’t happen overnight, but like I mentioned, it’s easy to do. Being patient might be the hardest thing for companies, and I understand how frustrating it can be not to see results right away, but it’s important that you invest in this, because the ROI of employee engagement is huge.
Here are 4 simple (and free) things you can do to get that passion back into employees. These are all based on research from Deloitte.
Employees feel overworked and underappreciated, so as leaders, we need to stop overloading them to the point where they can’t handle the workload. Let them explore their own passions and interests, and work on side projects. Ideally, they wouldn’t have to be related to the company, but if you’re worried about them wasting time, you can set that boundary that it has to be related to the company. What this does, is give them autonomy, and let them improve on their skills (mastery), two of the biggest motivators for work.
Employees feel overworked and underappreciated, so as leaders, we need to stop overloading them to the point where they can’t handle the workload.
At Wistia, a video hosting company, they make everyone in the company do customer support during their onboarding, and they often rotate people into customer support. When I asked Chris, their CEO, why they do this, he mentioned to me that it’s so every single person in the company understands how their customers are using their product. What pains they’re having, what they like about it, it gets everyone on the same page. It keeps all employees in the loop, and can really motivate you to work when you’re talking directly with customers.
Both Apple and Google have created common areas in their offices, specifically and strategically located, so that different workers that don’t normally interact with each other can have a chance to chat.
This isn’t a coincidence. It’s meant for that collaborative learning, and building those relationships with your colleagues.
This is similar to number 2 on the list, but it’s important for employees to grow and learn more about what they do. It helps them build that passion for their industry. It’s important to go to networking events, and encourage your employees to participate in these things. Websites like Eventbrite or Meetup have lots of great resources, and most of the events on there are free.
What do you do to increase employee engagement? Let me know your thoughts in the comments!
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This infographic was crafted with love by Officevibe, the employee survey tool that helps companies improve their corporate wellness, and have a better organizational culture.Comments
Supply chain fraud – whether perpetrated by suppliers, subcontractors, employees, or some combination of those – can take many forms. Among the most common are:
Perhaps the most damaging sources of supply chain fraud are internal, especially collusion between an employee and a supplier. Such partnerships help fraudsters evade independent checks and other controls, enabling them to steal larger amounts. The median loss from fraud committed
by a single thief was US$80,000, according to the Association of Certified Fraud Examiners (ACFE).
Costs increase along with the number of perpetrators involved. Fraud involving two thieves had a median loss of US$200,000; fraud involving three people had a median loss of US$355,000; and fraud with four or more had a median loss of more than US$500,000, according to ACFE.
The most effective method to fight internal supply chain theft is to create a culture dedicated to fighting it. Here are a few ways to do it:
The business world is now firmly in the age of data. Not that data wasn’t relevant before; it was just nowhere close to the speed and volume that’s available to us today. Businesses are buckling under the deluge of petabytes, exabytes, and zettabytes. Within these bytes lie valuable information on customer behavior, key business insights, and revenue generation. However, all that data is practically useless for businesses without the ability to identify the right data. Plus, if they don’t have the talent and resources to capture the right data, organize it, dissect it, draw actionable insights from it and, finally, deliver those insights in a meaningful way, their data initiatives will fail.
Companies of all sizes can easily find themselves drowning in data generated from websites, landing pages, social streams, emails, text messages, and many other sources. Additionally, there is data in their own repositories. With so much data at their disposal, companies are under mounting pressure to utilize it to generate insights. These insights are critical because they can (and should) drive the overall business strategy and help companies make better business decisions. To leverage the power of data analytics, businesses need more “top-management muscle” specialized in the field of data science. This specialized field has lead to the creation of roles like Chief Data Officer (CDO).
In addition, with more companies undertaking digital transformations, there’s greater impetus for the C-suite to make data-driven decisions. The CDO helps make data-driven decisions and also develops a digital business strategy around those decisions. As data grows at an unstoppable rate, becoming an inseparable part of key business functions, we will see the CDO act as a bridge between other C-suite execs.
So far, only large enterprises with bigger data mining and management needs maintain in-house solutions. These in-house teams and technologies handle the growing sets of diverse and dispersed data. Others work with third-party service providers to develop and execute their big data strategies.
As the amount of data grows, the need to mine it for insights becomes a key business requirement. For both large and small businesses, data-centric roles will experience endless upward mobility. These roles include data anlysts and scientists. There is going to be a huge opportunity for critical thinkers to turn their analytical skills into rapidly growing roles in the field of data science. In fact, data skills are now a prized qualification for titles like IT project managers and computer systems analysts.
Forbes cited the McKinsey Global Institute’s prediction that by 2018 there could be a massive shortage of data-skilled professionals. This indicates a disruption at the demand-supply level with the needs for data skills at an all-time high. With an increasing number of companies adopting big data strategies, salaries for data jobs are going through the roof. This is turning the position into a highly coveted one.
According to Harvard Professor Gary King, “There is a big data revolution. The big data revolution is that now we can do something with the data.” The big problem is that most enterprises don’t know what to do with data. Data professionals are helping businesses figure that out. So if you’re casting about for where to apply your skills and want to take advantage of one of the best career paths in the job market today, focus on data science.
I’m compensated by University of Phoenix for this blog. As always, all thoughts and opinions are my own.
For more insight on our increasingly connected future, see The $19 Trillion Question: Are You Undervaluing The Internet Of Things?
The post Data Analysts and Scientists More Important Than Ever For the Enterprise appeared first on Millennial CEO.Comments
A fear of failure could be holding back your business.
If the people on your team are worrying about being ridiculed or blamed for independent creativity or the downfall of an entire project, they are likely to hold back their ideas and stick to completing projects in the same way over and over again. In comparison, people who work in an office culture with no fear of failure feel free to bounce ideas around, which helps generate new practices, keep up with the times, push projects along, and can “wow” customers with innovation.
Changing the way your office works won’t happen overnight, but these five tips could begin to implement positive changes to help steer your team toward a working environment that is good for the staff and good for the business.
1. Recognize and reward
Employee recognition is the key to not fearing failure. When an employee or team member goes above and beyond; make sure they know that their hard work is appreciated and that an efficient system for providing employee recognition awards is in place. Even small things like suggesting a new way to carry out a particular process should be celebrated. If an employee, colleague, or team member has a suggestion that isn’t quite on-point, find the positive; for example, you might say, “You’re on the right lines, your idea will help speed the process up, but…” Always make sure to offer positive feedback first, then mention the thing that needs changing, and end with encouragement: “Once that’s ironed out, we can implement this — great work!”
2. Adopt a team mentality
Seems straightforward and fairly obvious for a first step, but so many companies do not know how to really generate a feeling of teamwork and inclusivity, and instead put up a front of “togetherness” while retaining the bad practices that divide a workforce. Start by calling a team meeting and setting some ground rules together. Yes, it’s a basic ice-breaking activity in almost all training sessions, but it also helps each person to display respect and hear the opinions of other members of the group. Suggest from the start that the team use “we” rather than individual pronouns when discussing projects, as it helps to dispel blame culture and reminds each person that they are all responsible for any successes and downfalls of the team.
3. Say “yes” more
When staff members and colleagues approach you with ideas and innovation, are you more likely to think “straying from the status quo is dangerous,” or are you willing to hear the person out and let their creative juices flow? Even if the first suggestion they offer is horrible, try not to say “no” outright or make the person feel bad for sharing. Try to find a way in which their idea can be incorporated, even if it has to be altered to fit the project. Saying “yes” to the inspiration and thoughts generated by staff and colleagues means that they will be likely to offer more ideas in the future, and without that openness, you might miss the next great innovation in your industry.
4. Blame less
Similarly, try to incorporate policies that encourage employee recognition rather than shame for sharing concepts. If failure does occur, do not publicly belittle the person deemed responsible, even in jest. This creates tension within the office or team and can make the person receiving the blame less likely to contribute in the future, and may even affect their personal well-being. Instead of blaming and shaming, discuss what went wrong as a group, and try to enforce the group mentality of “we could have done…” rather than “I/they/she/he did…”
5. Look for the positives
If, for any reason, your team does experience failure—and you should, otherwise you’re just not aiming high enough—try to see the positives, and discuss the issue as a group — not in cliques of us vs. them, but together discuss what the group could have done better. If a majority insist on blaming one or two people, move onto analyzing how communication channels could be opened up and ask members how inclusivity could be improved. After all, if only a few people are responsible for a project failing, the responsibility was obviously not being shared in an equal manner while the project was underway. There are positives to every situation, even if it is just the ability to improve your team dynamic.
The changes won’t happen immediately, but once the systems are in place and your staff, colleagues, and team members start to understand the goals within both the office and working environment as a whole, your employees’ creativity should start flowing and you will start hearing new suggestions regularly. Even if some don’t work well, remember to recognize employees and enjoy the rewards of your newly open and trusting workforce.
Want more employee engagement tips? See Boost Productivity With These 4 Brain Breaks.Comments