As the disruption continues, many businesses struggle to retain their employees. This post from David Burnie’s company provides strategies that can help keep employees on board, engaged, and motivated.
Happy, successful employees are critical for a successful company. While companies must consider how to retain employees at the best of times, employee retention is an especially pressing topic during the COVID-19 pandemic. As Ontario continues social distancing indefinitely, maintaining an engaged staff will offer a sense of stability to companies amid flux.
How can companies retain top talent to ensure maximum productivity, motivation and success?
Employee retention strategies can be implemented by employers to ensure that employees feel valued and engaged, even with current remote working practices. This can support lower turnover rates, higher productivity and improved organizational performance.
Suggestions included in this article:
- Recognition programs
- Professional development opportunities
- Health, safety and wellness programs
Read the full article, Employee Retention Strategies During COVID-19, on the Burnie Group website.
Sarah Ralston Miller and Zaheera Soomar co-authored this article on how to support and strengthen company culture during the current crisis.
Through the Covid-19 pandemic, our world of work has changed almost overnight. In the past few weeks, we’ve spoken with senior leaders at organizations with whom we have been working to strengthen their ethical culture. These leaders understand that their culture is an essential resource to navigate through the current crisis, and are finding new ways to cultivate ethical culture under these radically-changed circumstances. Drawing on our conversations with leaders across business and civil society, here are a few reflections on ways to guide your own culture during this period.
Be deliberate about your remote-based culture. It is important that we understand how the shift to remote work environments impacts our organizational culture, no matter how temporary we hope it will be. Being intentional about what we put in place can enable benefits and mitigate risks. Transitioning to remote work without building a corresponding culture creates multiple risks, including loss of employee engagement and inclusion, impact to productivity, lack of connectedness between individual and overall organization goals, increased fragmentation and risks of misconduct related to changing accountabilities.
Areas covered in this article include:
- Remote-based culture
- Agility and adaptability
Read the full article, Cultivating Culture in a Crisis, on the Principia website.
In this detailed article, Surbhee Grover identifies the decision-making inputs and new market approaches that will be required to survive in the new economy.
For entrepreneurs, coming out of COVID-19 isn’t the end of a crisis. It’s the beginning of a new way of thinking about their approach to product-market fit, financing, marketing and go-to-market strategies. And for some, will be a time to reflect on their personal approach to risk. The exponential pace of change to society will mean that only those entrepreneurs who have the greatest ability to adapt will survive.
Framing how the world will be different is important, as these differences will both unlock new opportunity and create new goalposts for innovation, user adoption (B2C and B2B), team building, product-market fit, and venture funding. We believe a few things will be true:
Areas covered in this article include:
- Brand relationships
- Purchasing behaviour
- Migration of talent and teams
- Re-imagined supply chains
- Data needs and sources
Read the full article, Shakeout of the Entrepreneurial Ecosystem What will it take to survive? And thrive?, on LinkedIn.
As more employees work from home, it is important to establish clear guidelines and routines, this post from David Burnie’s company provides ten questions businesses should ask to ensure the switch to working remotely runs smoothly.
Establishing a work from home (WFH) program is an essential part of a business continuity plan.
In the current COVID 19 crisis, executing a work from home (WFH) policy is a top priority for organizations. A robust work from home policy will enable an organization to continue operating during a significant disruption while limiting the impact on employees and customers.
A WFH policy requires a broad set of considerations to ensure it is adequately developed, including the provision of tools (e.g., laptop, headset, increased VPN capacity) and revised processes and practices. To assist organizations in making the shift to working from home, we developed ten questions to consider to build an effective WFH policy.
Points covered in this article include:
- Tool required
- Secure access
- Tracking and managing performance
Read the full article, Work from Home Best Practices, on the Burnie Group website.
Dan Markovitz explains why some methods of measuring performance and quality seriously lack the data to make an impact.
Pity the employees at a Starbucks in midtown NYC. In a misguided attempt to improve quality, the management posts monthly scores on a variety of metrics. . . without understanding anything about effective use of metrics. Measurement is a good idea, but only if it’s done well. These measurements? Not so much.
If you read Mark Graban’s blog or book, you’ll immediately see problems with this chart. For one thing, three data points don’t make a trend. With no upper and lower control limits, the movement in scores is nothing more than management by emoji — we have no way of knowing whether the movement is just random noise in a stable system, or a real signal indicating something significant happened. And why are they looking at the scores monthly? By the time they see a decline, it’s far too late to figure out what the root cause was and how to address it.
Read the full article, When Leaders Torture Their Employees, on the Markovitz Consulting website.
Stephen Redwood provides answers to commonly asked questions that help his clients increase the strategic value of Human Resources (HR).
If there is one thing that has been a constant over my years in HR and decades as a consultant, it has been the sense that the HR function is too often a supplicant to other functions and lacks the confidence to see itself as an equal. So, when clients ask me how they should be thinking about the evolution of their own HR function, in my mind is the question of how to overcome this mindset and establish a better understanding of how it can provide greater strategic value.
With that said,Winston Churchill’s words “It is always wise to look ahead, but difficult to look further than you can see” resonate with a challenge that faces HR: people and cultures take time to change so, what exactly should one be changing to and with what timeframe in mind?
Questions covered in this article include:
- Given no constraints, what is the most positively impactful contribution HR could make to the organization?
- How can HR gain the “permission” and latitude to achieve its potential?
- What should HR be working harder at?
- How can HR gain sufficient agility to build and sustain a high impact contribution?
Read the full article, How Can We Increase the Strategic Value of HR?, on LinkedIn.
It takes more than talent to become a valued employee in today’s workplace. Sherif El Henaoui identifies the benefits of finding the right fit.
Top people are desired. Every company wants them: the intelligent, creative, endurable, high-performance worker. Since this desired workforce is rare, there is a “war” as suggested by the HR literature. I once heard a quote of a McKinsey partner commenting on the Internet bubble crisis saying, “We won the war for talent, but we ended up with too many prisoners.”
We want to suggest a more peaceful view on the matter. High-performance is also a result of the cultural fit. This applies to societies and corporations. An aggressive, forward-looking sales professional works well in one type of company but is perceived as too pushy and less collegial in another. Is that the fault of the employee?
Read the full article, Fight Your Own War for Talent, on LinkedIn.
Mike Cox answers a question that is close to the heart of every business owner and entrepreneur who may be considering bringing new people into the business, “How much equity should I give a new hire.”
This question greys the hair of every business owner and entrepreneur. After all owners bear the burden of risk regardless of how they answer that question and the more that they choose to let go of equity, the less they feel like an owner and the more they feel like any other executive -except that they incurred a risk others didn’t.
While holding equity is fundamental to being a business owner, the distribution of equity from owners to employees is not fundamental and happens for a wide variety of reasons – some justified and others misguided. And while few employees would ever shun being given equity, their rationale for and level of interest in equity varies for many reasons.
Points covered in this article include:
- Equity distribution, the tool of last resort
- The appeal of equity to employees
- Alignment of agendas
Read the full article, Don’t Give Equity away too Freely, on the Cox Innovations website.