July 2018 - PerkSpot

5 Things Not to Do for Employee Retention

Katie Williamson July 25, 2018

We all want to keep our top talent. We want to see our companies thrive and grow while rewarding and incentivizing the right people to stay.

But sometimes this simple goal is not that easy to accomplish.

In fact, if you’ve done one of these five things this week, you could be costing your company valuable talent:

Here are five things not to do for employee retention:

Balanced Recognition

It’s easy to recognize the loud, outspoken extroverts for their achievements because they pretty much make themselves known. Although many of these employees may be very deserving of the recognition, introverts are also equally deserving, and in many ways require even more acknowledgement of their success in the workplace. Peer to peer recognition is a great way to help these quiet performers feel valued in the workplace. So the next time you hear someone saying great things about one of these employees, make sure they also say it to their face.

Empty Promises

A sure-fire way to annoy your employees is to promise something and not deliver. This could be as simple as “I’ll set up a meeting to discuss” and not following through. Consistently promising things and not delivering will leave your employees disappointed and will cause them to lose trust in your management or organization. Understanding that things happen, make sure you’re communicating clearly when plans change or you don’t have an answer in the time frame you expected. And, of course, make sure you’re not promising too many things you can’t deliver on in the first place.

Unrealistic or Inaccurate Expectations

Maybe this week an employee completed a project that was NOTHING like you wanted or expected. Again, constant and clear communication is vital to making sure you’re both understanding what is expected for your employee’s role. Make sure if they aren’t delivering, you speak to them and figure out where the misunderstanding happened. Approach the situation with an open mind, being willing to hear their perspective and figure out how you can improve. Of course, if this happens repeatedly, it may be time to evaluate their performance overall.

Unspoken Apologies

We’re all human. Including managers. If you realize you have fallen short for your employee this week, find a way to make it right. This could mean not carving out enough time to chat with them about an issue they were having, responding negatively to a certain situation, or not communicating expectations properly. If you screw up, own it, and make it right before your employee begins to harbor bitterness and resentment.

Constructive Criticism

Did you find a way to challenge your employees this week? One of the greatest ways to improve employee retention is to consistently provide feedback on their performance and make sure they are being challenged. Needless to say, not every week is going to be challenging. We all have weeks when we have to focus on the mundane, but necessary tasks at hand. However, if this is becoming the norm for your employee, you can believe that they won’t stick around for long. Give feedback, push them harder, and make sure they are doing work that challenges them in the right ways.

Which of these did you do this week? What will you strive to do better in the future?

Managing Up

Katie Williamson July 18, 2018

This summer, we’ve held weekly “Lunch and Learns” with our interns where one of our executives chats with us about their career journey: their current role, their past mistakes and everything in-between.

Yesterday, our VP of Sales shared some great advice about “Managing Up”. He spoke to the importance of aligning your projects with your manager’s goals. No matter if you’re an intern, a Human Resources Manager or a VP of Sales, this advice rings true for all of us.

Let’s unpack what “Managing Up” looks like:

Know Your Mission and Values

A great way to know if your goals are aligned with your manager’s goals is taking a step back and focusing on your company’s mission and values. Examine if your priorities reflect your business objectives. If it’s not, it might be time to re-evaluate.

Your Manager is a Person, Too

Sometimes it can be easy to think that your boss is a cog in the machine. But your manager is a real person with real life stressors and emotions. By understanding even a small portion of how they tick, what’s happening in their personal lives, or even their educational or professional background, you’re more likely to develop a positive working relationship.

Know Their Goals, Anticipate Their Needs

This is both spoken and unspoken. Ask your manager what their priorities are for the next month, 3 months or 6 months. Make sure your goals are aligned with what they’re trying to accomplish and touch base to see how you might be able to problem-solve or push past obstacles that are standing in their way. This is a great way to take ownership, prove your dedication and show your initiative.

Teach Them How to Manage You

Your manager will never know your hopes and dreams unless you tell them. Dying to work on that project? Tell them where you can add value. They’ll be thrilled to have someone fill in gaps and work on tasks they may not have time to do. You’ll get the experience you’re looking for all while adding value and marking things off your boss’s to-do list. Win-win.

Whether your boss is amazing or a textbook micro-manager, “Managing Up” can do wonders for your career and help you maintain a great working relationship as a direct report.

Unconventional Office Perks

Katie Williamson July 11, 2018

Is your office “perky”? In 2018, it can be hard to stay competitive when it comes to perks. Beer on tap, pet-friendly offices, and travel stipends are among some of the great perks companies are offering these days. Here’s a look at some of the most unconventional office perks we’re seeing in 2018:

Free Ice Cream!

Need we really say more? Ben & Jerry’s employees can take home up to 3 pints of ice cream PER DAY. This sugar rush might be the best way to beat the afternoon slump.

Egg Freezing

You read that correctly. Spotify gives its employees $10,000 worth of egg freezing. Considering the U.S. still doesn’t even have a mandate for providing paid maternity leave, this is pretty amazing.

Bereavement Benefits

Not a benefit we love to think about, but powerful nonetheless. Google gives the surviving spouse or partner of a deceased employee 50 percent of his or her salary for the following 10 years after his or her death.

Gender Reassignment Surgery

Perhaps the most shocking part of this perk is the company that provides it: Goldman Sachs. You may think that this financial mogul wouldn’t be this progressive, but they’re proving us wrong.

Co-Presidents

At the Nerdery, they take job equality very seriously. They award each employee with a secondary job title as “Co-President”. This perk is to show that every employee’s opinion matters; in a way, everyone is co-president.

What are some unusual perks you’ve seen or offer to your employees? Looking for a new addition to your perks program? Consider offering an employee discount program. We know a great place to start.

What You Need to Know About PTO in 2018

Katie Williamson July 3, 2018

2018 is one of those unfortunate years where Independence Day falls on a Wednesday. Is there anything sadder? While most of us stayed local to enjoy the fireworks in our own neighborhood, here are some reasons why you might want to consider finally using your PTO in 2018.

Project Time Off has some shocking statistics on the State of American Vacation in 2018.

52% of Americans left vacation days unused in 2017, resulting in over $255 billion lost in total spending.

The good news? This number is up from 54% in 2016, which is estimated to produce 217,200 jobs and boost the American economy by $30.7 billion. It’s great to see this number going up and there are many ways we can still improve.

24% of Americans haven’t taken a vacation in over a year.

Many employees don’t take time off because they fear the impact this has on their appearance at work – 61% saying they would appear less dedicated or replaceable. Others feel their workload is too heavy (57%) or that no one else could do their job while they’re out (56%).

While 84% of employees believe it’s important to use vacation days to travel, only 47% actually do so.

While more employees are taking a vacation compared to 2016, this might not necessarily mean they’re taking time to truly disconnect and recharge. Employees who travel report a higher chance of receiving a raise, bonus or both compared to those who don’t (86% compared to 81%).

How can you encourage employees to take advantage of their PTO?

1. Set an example.
We have a very flexible PTO policy here at PerkSpot. There is no limit to the number of days as long as you get proper approvals. While many offices have reported the idea of “unlimited” vacation days unsuccessful, it works for us. Employees are often seen roaming the streets of Cancun or spending time away with family. The reason it works for us is that it starts from the top down. Our CEO recently went away to recharge in the mountains of North Carolina. By setting an example for all of us on the importance of getting time away, we all feel more comfortable and empowered when it comes to taking the time ourselves.

2. Create a backup plan.
We are a small team at PerkSpot. With less than 40 employees, it can be hard to get away and not feel like you’re leaving a hole in your team. Recently, however, we’ve been finding ways to cross-train within our departments so everyone can have the freedom to truly get away and unplug. This has huge benefits not only to using PTO but also protects our office in the case of emergency or when an employee might decide to move on.

3. Make it part of your culture.
PerkSpotters love to travel and are constantly sharing photos of their recent adventures. It’s a fun way to encourage employees to get out and see the world. By embracing this shared interest and pushing others to pursue these opportunities, we’ve fostered a culture that values time off and flexibility.

These are just a few ways you can encourage employees to take PTO. Whatever you do, make sure you’re empowering employees to take time to recharge. Your bottom line will thank you.

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