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Are You Offering What Top Employees Are Seeking? |
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A recent
survey of over 124,000 local and overseas employees of
Australia's leading companies showed employees the majority
of respondents have increased their expectation of what
their companies will provide more for them - and many of
those employers are now delivering more in order to keep and
attract the best of staff.
The survey was carried out by human resources consulting
firm Aon Hewitt whose Chief Executive of Talent and Rewards,
Tim Powell, said this year's survey showed a new and
worrying trend for employers: For the first time more
organisations are exhibiting declining employee engagement
than those exhibiting rising engagement.
"The drivers that used to attract and retain talent -
relationships with co-workers, relationships with customers
and work/life balance - have now become standard
expectations within the majority of organisations," says
Powell. |
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This is not likely to come as news to anyone who is presently
seeking to hire new talent as the higher expectations and more
complex models of employee engagement have become increasingly
common challenges faced by many employers and managers.
As unemployment drops, workers have become more confident in seeking
new opportunities and so the hot question is, "What is it that makes
a good employee choose to stick with a business in this competitive
market?"
The survey found that the top companies on the list displayed strong
common features: Senior leaders who are judged as more effective;
leaders who prioritise their teams to ensure problems are solved
effectively; teams who are clear about how pay is structured and how
rewards are related to personal performance.
72% of senior leaders in the businesses listed in the top category
of "Best Employers" were viewed by their teams as showing strong
evidence of effective leadership and were cited as having skills
which included:
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proper time management
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a knack for matching employees with roles to which they are best
suited
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the ability to effectively motivate team members
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communication with their team members
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delivering on promises made to staff
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being able to explain the vision of the company
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clarity about how pay and rewards are determined
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recognising and rewarding exceptional behaviour
The survey shows top companies pay close attention to their
employees' performance, and have simple and effective processes for
realigning their performance with the company's goals whenever they
move off track.
The research clearly demonstrates that a leader's accountability for
and ability in improving the engagement of their teams are two key
factors positively affecting the performance of employees and of
companies a whole.
This approach is reflected in the comments of several executives
from the top employers.
David Garmon-Jones, Managing Director, of Merck Serono says, "A lot
of HR initiatives are not expensive." Listening to what people have
to say and giving people choices are good examples. "It is a false
economy to mess with people".
Ben Dixon, Managing Director of Millward Brown said there needs to
be a clear distinction between "business financials" and "business
investment" and people are definitely a key investment.
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"Employees need to know what the company goals are and feel
part of achieving them. The ability to keep employees
satisfied with their jobs (and therefore motivated) gives
them the opportunity to experience achievement."
"They need to celebrate and be rewarded when things go well
and understand how they impacted that result. Consistency
from the senior leadership team in message and management
approach ties into all of this."
Jan Pacas, Hilti general manager, also said the best
employees are those "who are motivated to perform beyond
just their usual duties".
Powell explains these companies top others because of their
ability to motivate staff.
"The difference is that their senior leaders have taken
accountability for the engagement of their people, and
persisted over time in taking action for improvement." |
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Thoughts |
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Being on the move all the time is draining, but the rewards make
up for it.
David Soul
For them to perceive the advantage of defeating the enemy, they
must also have their rewards.
Sun Tzu
I do not believe in the God of theology who rewards good and
punishes evil.
Albert Einstein
People who create 20% of the results will begin believing they
deserve 80% of the rewards.
Pat Riley
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