However, as you plan to get your business off the ground, you need to consider more than just marketing strategies to achieve a sustainable competitive advantage, no matter which market your firm is in. One of the most important aspects of your business is what is known as your HR strategy and your human capital — you, your team, and your employees. Conversely, failing to do so, through a lack of planning or poor implementation, can result in reduced productivity and profits, and even a poor brand reputation. Many think that human resources begins when a firm grows large enough to have a formal human resource department — an office, a director, a dedicated budget line, and other hallmarks of a large firm.
Example - Onboarding We all know that it makes sense. Find a better way to bring people into the organization, connect them with the mission and give them a start at your company that maximizes their chances for success. It really comes down to the quality of the program you call onboarding.
You start all the new hires together on a Monday and run through the handbook, maybe throw up a couple of slides about the culture? Translation of the chart - everyone does a little song and dance via a "orientation".
Seems entry level - but apparently not. How are we doing?
What are you thinking? How likely are you to leave? Everyone likes to be asked. Your ability to truly onboard is directly related to the number of touch points you have after someone finishes your orientation. The Allied Workforce Mobility Survey asked human resources professionals about strategies, practices and performances related to mobility in the workplace.
He cited that CEOs claim their biggest challenge in the next 10 years will be attracting and retaining talent. Attracting and retaining talent has been the challenge for the past 10 years. New hires are excited to join the organization. They want to show the company that they are the right candidate.
The other aspect of the survey that surprised me was the amount of money dedicated to onboarding. Or more accurately, the lack of it. They spend nothing, nada, nil.
Know how long it takes for an employee to become productive. The purpose of onboarding is to give employees the information they need, when they need it. Find out why people are leaving the company via exit interviews. Not just why an employee left but what caused them to go looking in the first place.
Use it to create change! Ask employees what they like about working for the organization. These are things you want to make sure new hires know about. Needless to say, it would be great to have an unlimited budget devoted to onboarding.
What could help get some funds in the onboarding budget is being able to show how much it costs to hire an employee, the average length of employment for new hires, and the cost of an employee resignation.
I hope you found these results interesting because I really enjoyed sharing them with you. Please check it out. Competition for talent is heating up. Companies are struggling to find skilled workers. It would be a shame to hire the next company rock star only to see them leave…or worse, stay and be unproductive.
You can check out their thoughts herehere and here. Have you ever relocated in order to take a new job? Print Me As an HR executive, I have had the good fortune to live in a city that afforded me opportunities to progress in my career without having to relocate my family.
There was a time, years ago, that I was offered the opportunity to relocate to the west coast. The package was not too bad and the pay would have been good for the role in that market, but no one ever mentioned that I was a mother with young children.
Children that were nearing school-age. For me, that was the only factor that kept me from making that move. As an HR executive, I have had the good fortune to live in a city that afforded me opportunities to progress in my career without having to relocate my family.
Three factors are most likely to limit or restrict willingness to relocate: It made me think back to the time when I did not make the move and why I chose not to move.
It was a combination of the HR pro not closing the deal and some of the missing pieces around how things would be handled with my family. Would my husband leave his position he had held for his entire career?
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