HR’s competitive advantage: the 6 tools you need to know about for 2019
Hiring decisions have generally fallen on the shoulders of the HR teams within a company. But wouldn’t it be great if you could empower your employees not only to support your organization but to promote it as well?
Your employees should be more involved in your hiring and retention processes and here’s how you can get there:
OMG turn down your awesomeness
Employees need to feel motivated — so how do we get employees to scream about how much they love their jobs from the mountain tops? Did you know that only 2 in 10 employees strongly agree that their performance is managed in a way that motivates them to do outstanding work (Forbes)? We must motivate and this is where an employee motivation tool can be very useful. Perkbox is a platform which gives your team benefits that inspire a unique employee experience, enriching their personal and working lives. They offer hundreds of perks, discounts, and freebies from big-name brands and help you identify and celebrate the outstanding people in your teams.
“This book is good” — an important reviewer
Reviews are a part of your company brand and must be not only acknowledged but encouraged. Glassdoor is one of the best known places for company reviews but who says you need to wait until an employee has left the company to share? Current employee reviews are quite common and if you have a happy employee who has expressed their delight with a specific project or with the way their team is being managed, ask them to put pen to paper and share it with the world. Glassdoor offers ratings and reviews of over 600,000 companies worldwide and it can be an opportunity missed if you don’t add your name to that pot. With 78% of Millennials seeing workplace quality as important when choosing an employer (Visix), it’s in an employer’s best interest to both create the space and communicate that to current and future employees.
Everything begins with an idea
What is one of the main things the more recent generations hold near and dear when it comes to pledging their allegiance to one company? Impact. According to the 2017 Deloitte Millennial Survey, millennials feel they can exert more influence on the world’s biggest problems via the workplace (AAT). One way to facilitate this need for impact is through innovation and ideas management. Allowing your employees to contribute their ideas to the organisation and help to improve functionality will encourage them to think innovatively. Using a product like Sideways 6 can allow you to capture up to 10 times more ideas and leverage existing communities on Microsoft Yammer, Workplace by Facebook and Slack. Having a tool in place allows your employees to bring their ideas right into the open and also leverages social channels that they’re probably already using.
Insight can drive the change
89% of employers think their people leave for more money — only about 12% actually do (The Muse). In that same study from The Muse, it was shown that companies with an engaged workforce generated 2.5X more revenues than competitors with low engagement levels. Employee engagement is vital to your company growth and using the right tool can give you insights that drive that. Peakon is a hugely robust tool that provides you with the necessary engine to measure and improve employee engagement. With features like intelligent questioning and bespoke benchmarking; you can make better decisions for your people.
Product launch plan but no customer launch plan?
So you’ve hired your new employees but now what? Throw them into the lion’s den to fend for themselves? If you’re onboarding process isn’t a priority for your organisation — here’s why it should be:
- Companies with an engaging onboarding program retained 91% of their first-year workers. (TinyPulse)
- 69% of employees are more likely to stay with a company for three years if they experienced great onboarding (Octanner)
- Organizations with a standard onboarding process experience 50 percent greater new-hire productivity (SHRM)
It’s no longer an option to onboard your employees properly, it’s a necessity for growth. Personably is a great tool to help improve and facilitate the employee onboarding process from day one. With features allowing you to create, automate and collaborate; you can ensure a great start.
A referral is the greatest compliment you can give
Word of mouth marketing is the best type of marketing right? Now apply that same logic to employee referrals. Your referrals process is an important way to encourage existing employees to be part of the hiring process. Would it surprise you that referrals are #1 in employee retention rates after 1 year at 46% vs. 33% for other sources (Undercover Recruiter). Perhaps it’s also worth mentioning that the #1 way people discover a new job is through a referral (LinkedIn). Suffice it to say, it is in your best interest, as well as your employees best interest to have a referrals process. But what if you had a tool to manage your referrals — how can that improve your process? Well, there’s an 83% uptick in engagement in employee referral programs for employers who pay out through a tech platform in real time. This is where Referon (yes, that’s us lovely bunch!) can help you hire trusted people at speed and scale. Your employees can earn at each step of the referral process and can visibly see the amount they have made. Through fast payments, a continuous feedback loop and progressive bounties; your employees can benefit from being a part of the hiring process and help you fill those gaps.