Awards vs. Employee Experience: What Really Makes a Great Workplace?
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Winning a "Best Place to Work" award might sound like pure HR gold, but an engaged and productive workforce is a much more worthwhile objective. Join BambooHR’s Director of HR, Cassie Whitlock, and The Predictive Index’s CEO, Mike Zani, as they walk through the foundation and structure of an engagement-lifting workplace.
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Awards vs. Employee Experience: What Really Makes a Great Workplace?
- 2. bamboohr.com predictiveindex.com Cassie Whitlock Director of Human Resources BambooHR Mike Zani CEO The Predictive Index
- 3. Awards vs. The Employee Experience Winning a Best Place to Work award is awesome. But it’s far from everything.
- 4. What can a workplace award do? Smaller award-winning companies experienced a 63% increase in operating income and a 39% growth in sales when compared to non- winners. Source: British Quality Foundation Improve employer brand Attract talent Increase visibility Strengthen your reputation Boost revenue
- 5. Improve engagement Stop people from leaving Take the place of experience Win itself What can’t a workplace award do?
- 6. Growing a Great Place to Work Creating a great place to work is like tending a garden. What does a garden need to grow?
- 7. The Big Idea: Leadership + Culture + Total Rewards = A High-Engagement Environment
- 8. Strong Leadership: Managers, Executives, & HR: Knowledgeable Trusted Transparent Accessible Communicative
- 10. Optimized Total Rewards: Health Medical Dental Vision Childcare Social/Emotional Mental Health PTO Employee Assistance Parenting
- 11. 35% Of surveyed employees think a lack of benefits related to family assistance has negatively impacted their work performance. (Care.com Better Benefits Survey, 2015)
- 12. 30% Of surveyed employees have cut back more than 6 hours per week due to family responsibilities. (Care.com Better Benefits Survey, 2015)
- 13. Optimized Total Rewards: Financial Salary / Hourly Compensation Investment / Retirement Supplementary Insurance Financial Education Professional Development Career Counseling Skill Education Tuition Reimbursement
- 14. 46% Of Baby Boomers say not being able to retire when they want to is a major financial concern. (PriceWaterhouseCooper, 2018)
- 15. 48% Of Millennials (and over half of Gen Xers) fear not having enough money to cover an unexpected emergency. (PriceWaterhouseCooper, 2018)
- 17. Engaged companies… See a 6% higher net profit margins (Towers Perrin) Receive 5X higher shareholder returns across five years (Kenexa)
- 18. When People are engaged… 37% lower absenteeism 25% lower turnover (in high-turnover organizations) 65% lower turnover (in low-turnover organizations) 28% less shrinkage 48% fewer safety incidents
- 19. When People are engaged… 41% fewer patient safety incidents 41% fewer quality incidents (defects) 10% higher customer metrics 21% higher productivity 22% higher profitability
- 20. Most common strategies They don’t seem to be working.
- 21. All this effort and it is not working.
- 22. Connected James Fowler and Nickolas Christakis
- 23. Connected James Fowler and Nickolas Christakis A person is 15% more likely to be happy if directly connected to a happy person. At 2 Degrees, 10% more likely. At 3 degrees, 6% more likely. Each unhappy connection decreases the likelihood of happiness by -7%. $10k raise = + 2% happiness
- 24. Measure globally – act locally
- 26. Blockers to great results Minimum Requirements Forces of disengagement pull your good people down PERFORMANCE & ENGAGEMENT JOB FIT MANAGER CULTURE TEAM TIME
- 33. What not to do
- 34. • Mess up what they like about the company • Lose sight of them – spend time with your stars For “Cultural champions”, do not...
- 35. • Blame them – this is your making • Prioritize policies or take action based on this group • Expect high survival rates For “Contaminators”, do not...
- 36. • Be surprised • Wait another day • Think that this will be easy or • That a benefit will cure this issue For “Grinders”, do not...
- 37. • Accept low performance or it will infect your culture • Expect performance to change by itself • Assume that improvements will maintain • “Overweight” their suggestions For “Silent Killers”, do not...
- 38. What to do
- 39. • Give them proper attention • Reward them…or someone else will • Invest in tools they need • Give them a platform For “Cultural champions”, do...
- 40. • Admit responsibility • Be specific and honest with their lack of engagement & performance • Send them out as an advocate or an adversary For “Contaminators”, do...
- 41. • Get to the Root of the Problem • Get Feedback…Listen & Act • Showcase Efforts & Improvements • Wellness Checks For “Grinders”, do...
- 42. • Consider Right Person but Wrong Seat. • Establish Quantifiable Performance Objectives • Conduct Performance & Engagement Conversations vs. Annual Reviews • Dedicated Mentorship Program For “Silent Killers”, do...
- 43. Feelings / ideal outcomes
- 44. For “Culture champions”... Feeling - We are the future Elevated status / recognition Greater sense of purpose and belonging Feeling that leadership gets “it” and “me”
- 45. For “Contaminators”... Feeling – Surrender Miracle or Happy Alumni
- 46. For “Grinders”... Feeling - Hope / Optimism Leadership wants to change The notice and respect what I bring Attitude shift - I will work on this if you do
- 47. For “Silent Killers”... Feeling - Ownership Ownership of their performance improvement Realization that performance change is needed or Happy Alumni
- 48. bamboohr.com predictiveindex.com How engaged is your organization? See how your company stacks up. Questions? Receive a free job posting on our ATS and full HRIS for one week. We will contact everyone within the next few days to set this up. BambooHR trypi.com/engagement-diagnostic The Predictive Index
- 49. bamboohr.com predictiveindex.com Thank You! Follow BambooHR and Predictive Index on social media: bamboohr.com/blog | predictiveindex.com
Editor's Notes
- Cassie Which is more important to have, an award or a great place to work? We’ve both won Best Place to Work Awards They’re nice to have and good for business, but they don’t equate to a great experience
- Cassie Winning an award isn’t a bad thing; it’s a great thing. It can: -boost your employer brand -make it easier to get buy-in from executives for improving the employee experience.
- Cassie An award doesn’t mean you have a great place to work; it means people say you do. You can have one without the other. Takeaway: The goal isn’t the award, it’s creating a great place to work. An award helps validate and support the continuation of that goal.
- Tending a garden means constant maintenance: weeding, pruning, watering, sunlight, fertilizer, etc. Tending a workplace is the same: -Planning the proper environment -Creating a strategy around what you want to produce -Selecting the right people -Making sure those people are as able as possible to do the work you want them to do
- Cassie You’re seeking loyalty, passion, and productivity, the results of high employee engagement. The maintenance is creating and reinforcing, measuring and recreating an employee experience that produces high engagement.
- Cassie Knowledge is power, and the people with knowledge at an organization are the leaders If you want to empower and engage your workforce, you have to spread knowledge Leaders have to be open and available to share what they know In turn, communication from the ground up keeps leadership better informed to make decisions
- Cassie Has to be locked in as early as possible and communicated broadly and repeatedly. Values get incorporated into hiring. Set the example from the beginning and make sure decisions at the exec level incorporate values and then are communicated
- Cassie Tune benefits to your employee demographic (programs that are particularly suited to your workforce, e.g., towards young families and singles, older couples, middle age families, etc) Educate fully and provide additional advice on benefits utilization Unused benefits aren’t benefits Education on benefits reinforces the idea that benefits are a component of compensation Mental health is critical Time away from work is critical Ensuring that the time away from work is beneficial is something many people overlook (Paid Paid)
- Cassie Benefits don’t only impact the employee - they can have a dual impact on both family members and employees
- Cassie Financial security is a big factor in mental health Financial benefits boost employer brand and boost employee morale Financial education (Financial Peace University) is a great extracurricular care initiative Organizations that fail to make continual engagement efforts risk stagnation Flat organizations risk turnover due to a feeling of dead-end jobs Career development efforts prevent the first Clear communication about structure and career paths prevents the second
- Cassie Educating people about investments, savings, and retirement can seem remedial...to people who are knowledgeable and secure about their finances. But many people have never had any sort of financial education. It’s an often-repeated statistic that 33% of American adults have $0 saved for retirement
- Cassie Debt, lack of a budget, and lack of savings create an engagement issue through worry. 44% of Americans don’t have enough cash to cover a $400 emergency. Teaching employees how to budget and save and pay off debt helps the organization as well as the employee
- Engagement is everywhere – workshops like this, new technology & solutions are launching almost daily Is it really important, is it a buzz word, or is it an HR craze? One of things I hope to accomplish today is to set the record straight on that. Engagement is a real thing and it’s a very important aspect of any organization and can make the difference between success and failure of a company
- When we think about companies who have a workforce that is more engaged overall, even at a macro level there’s clear data that shows they are more profitable and return more money to their shareholders The real reason that it occurs, and youc an see a lot of data points on this page, when you get engagement right you can see all the right business metrics moving in the right dircation Less Shrinkage, lower absenteeism, better customer experiences, higher productivity, few safety incidents All of this contributes to a more successful company across the board and contributes to the most important financial metrics After looking at data like this, it’s really something that’s undebatable Something that every business should be thinking about
- When we think about companies who have a workforce that is more engaged overall, even at a macro level there’s clear data that shows they are more profitable and return more money to their shareholders The real reason that it occurs, and youc an see a lot of data points on this page, when you get engagement right you can see all the right business metrics moving in the right dircation Less Shrinkage, lower absenteeism, better customer experiences, higher productivity, few safety incidents All of this contributes to a more successful company across the board and contributes to the most important financial metrics After looking at data like this, it’s really something that’s undebatable Something that every business should be thinking about
- When we think about companies who have a workforce that is more engaged overall, even at a macro level there’s clear data that shows they are more profitable and return more money to their shareholders The real reason that it occurs, and youc an see a lot of data points on this page, when you get engagement right you can see all the right business metrics moving in the right dircation Less Shrinkage, lower absenteeism, better customer experiences, higher productivity, few safety incidents All of this contributes to a more successful company across the board and contributes to the most important financial metrics After looking at data like this, it’s really something that’s undebatable Something that every business should be thinking about
- Now, companies that are focusing on are typically adopting a very common strategy First part of that strategy, involves a survey approach Annual census survey to gauge feelings, thoughts, beliefs of employees It’s really about listening to the employees Today, you will see a lot of surveys that try to amp this up through continuous listening, or “pulse surveys”, but premise ist still the same People are Measuring how people are feeling and then the next step is supposed to be action planning Action planning is really about attempting to tackle engagement from a top down perspective, senior leaderships reviewing those results, thinking about what needs to change, communicating that change, and taking action from the top of the company While at the same time, a bottoms up approach is supposed to be happening as well – managers get their own results, sit down with their own employees, and enact a more targeted plan to show their employees that they understand their concerns and will take action and make any necessary changes In a perfect world, if everyone is doing this right, you will see some changes and may move the needle The big problem with it is it is incredibly intensive process, it doesn’t work well and it has one really big flaw in that it doesn’t get to who the individual is As evidence, Gallup tracks overall workforce engagement, and with all the tools and solutions that are out there, you would think we would just be able to crush the engagement problem and move on, but instead we find ourselves measuring the heck out of something, and having very little positive impact So how can we have a big impact on engagement
- Z TAKE OVER
- Z TAKE OVER
- THESIS
- I think we can all agree that we want a productive workforce, people that are engaged, those that come to work happy. We want our people on the trajectory of the dotted greenline And we desperately want to avoid the red line - these folks are typically disengaged, doing the bare minimum In addition to this reality, I/O Psychologists have found four active forces working against us that block us from achieving great results. These forces pull down your people on the “want to” curve and they inhibit the people on the “have to” line to step up. The four forces are: Job Fit (and/or avoiding bad hires) is just one of them. It’s the most common. But job fit (or hiring concerns) is a symptom of something else - it’s a response to a business need (growth, re-org, attrition, poor management...etc). In other words, you can make the best hire you’ve ever made, but lose them because of poor management Manager - the old adage that people don’t leave their job, they leave their manager is true. Bad managers stifle productivity, crush morale. Imagine hiring a great employee, but losing them because of a manager! Culture - (cultural misalignment) is another critical area that can block great results. Culture is defined by the leadership (for better or worse); understanding what’s driving the culture and why is vital to the strategy of the business and the results it seeks. For example, a start-up culture has very different requirements than a mature organization. Team - good employees who don’t understand each other can wreak havoc, which also hurts engagement and productivity. In other words, instead of focusing on our productive employees, making them even more productive, most of us spend time dealing with the basic causes of a disengaged, unproductive workforce. There is so much productivity lost when we’re dealing with disengagement (job fit, bad management, culture, or team conflict). Does this broader picture resonate with you? Before we jump ahead and get into the software, what are your thoughts on this?
- THESIS