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Retention Before Recruitment

retention before recruitment

According to JB Training Solutions, “91% of Millennials expect to stay in a job for less than 3 years”. And with Millennials making up the largest part of the workforce, we definitely have our work cut out for us when it comes to retaining these individuals. As younger employees begin switching jobs more frequently, the effects are costly and quite frankly, exhausting. In fact, a study by the SHRM foundation states finding a direct replacement for an employee can cost the company anywhere from 50% to 60% of the person’s annual salary. So let’s say you are looking to replace an executive earning $80,000. Finding a replacement could cost your company anywhere from $40,000 to $48,000, not to mention the loss of productivity in the meantime.
So how can we beat these odds and ensure our employees stick around for the long haul?

Employee retention begins before the very first interview.

The best way to keep employees satisfied is to fully understand what they’re looking for. Gone are the days when a high salary and great compensation package was enough to entice an interviewee. Millennials long for purpose and direction in their career. Don’t misunderstand, while some are seeking a C-level title, the majority aren’t necessarily looking for a lofty position. The overall goal of a millennial is to learn, grow and be developed in their position.

Start by putting a plan in place for their career path. Think about where you’d like to see them take their role in the next three, five, or even ten years. Having this plan in place shows you’re investing in them as an individual and their career with the company. Maybe you don’t know exactly what type of position they’ll hold in five years, but you can show them the things they will learn. Discuss educational seminars they will attend or new skills they will develop while on the job. This is guaranteed to go further than a corner office would.

Recruitment and retention strategies are two sides of the same coin.

While setting them up for success is important, also keep in mind not everyone is going to be a great fit. In addition to thinking about what millennials want, also think about your company needs and the overall culture. The best way to ensure an employee sticks around is to determine if they are a great fit in the first place. I’ve seen this in my own experience when a job wasn’t exactly how it was laid out to me, I eventually got burnt out and left unhappy and confused.

You can prevent your employees from experiencing this new hire whiplash by making transparency an essential element of your interview process. When I left to seek a new position, PerkSpot stood out to me in one of the most obvious ways: the job description. Instead of the usual bullet points outlining the position in obscure terms, the description was familiar and informal. It painted an excellent picture of what my days in the office would look like. The transparency from the words on the screen to the face-to-face interviews ensured that from day one, nothing was ever a surprise. Within the first few days I knew the job was exactly what I had wanted and expected from the interview process.

Retention, by definition, is a continuous practice.

Beyond a new hire’s first week, remember that on-boarding is not an event that happens on the first day. When thinking about what millennials want, remember two of the most highly sought after aspects of a career for them are mentorship and development. You should already have your plan in place for where you want your new hire to take their career. Now, you just have to enable them to get there.

Keeping employees engaged isn’t a “set it and forget it” strategy. They need to know the specific goals you’ve set in place and receive feedback on their performance. Find a mentor who can meet with them in a comfortable, open environment. This is not only to provide necessary feedback, but also help them develop the skills they need to reach their goals. Millennials are eager to learn, but they can’t do it alone.

As employees long for job stability and your company profits from a secure workforce, don’t let employee retention become an afterthought. Think strategically about how to keep employees engaged. Remember that retention is an ongoing process that starts before, during and after the recruitment stages. Think of what you could do with that extra $48,000 when you don’t have to spend it on recruitment.

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Is Your Office a Foreign Country? (Tips for Onboarding New Hires)

Imagine stepping off the plane into a foreign country. The sights and sounds are unfamiliar: words written in a language you can’t decipher, people pushing past you spouting off strange colloquialism, and you may even find yourself surrounded by sideways glances and awkward stares.

Well, for many new employees, they carry these exact sentiments around with them their first week at work. As you seek to onboard new employees, keep in mind that they are outsiders fighting their way into this seemingly unknown territory.

Here are a few ways to make the transition a little easier for your new hires:

Make an Announcement

Don’t leave it all up to your new employee to make friends. Make an announcement on their first day. Maybe link to their LinkedIn profile and explain who they are, the position they are filling, and a little background information. It will provide a great jumping off point and give your current employees a reason to stop by and say hello.

Be Careful of Office Jargon

Listen, here at PerkSpot, we are just as guilty as the next guy at throwing around office slang. From perxicons to perkalerts, half of what we say needs to be filtered through some sort of strange decoder. But, when it comes to new hires, be sensitive to the fact that they are wrapping their head around a new product, business and environment. There is a lot to learn and part of that means learning a new language. Make sure to explain unfamiliar terms and steer clear of words that could be described in another way. Oh, and maybe just remove these from your vocabulary altogether.

Have Fun

My first day at PerkSpot was seamless thanks to some friendly coworkers taking me out to lunch. There is a delicate balance between making new employees the center of attention but also ensuring they are welcomed and included. Casual lunches or happy hours are a great way to get to know them in a low pressure environment. Plus, if you’re anything like our friends over at Southwest Airlines, having fun should already be a part of your company culture, so really you’re just inviting them to be a part of it!

Don’t forget, employee engagement starts from day one. Use these tools and more to make sure everyone has an A+ experience.

And if you really want to make them feel at home, check out our perks program. You can thank us later.

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Employee Engagement: Myth vs. Truth

employee engagement myths perkspot culture

These two words are changing everything: “Employee Engagement”

Bombarded with ideas of what employee engagement means, struggle with how to implement this in our businesses. But many of these ideas are not authentic representations of what’s happening in our offices.

We’re debunking the myths employers often believe about Employee Engagement.

Myth: Higher compensation = higher satisfaction.

80% of workers don’t consider money a factor in engagement. While fancy compensation packages work for some, the majority of employees simply aren’t motivated by money.

Truth: Opportunity for growth is essential to employee engagement.

What does work, however, is when employees have a place to grow and learn. Many employees are disengaged because they lack challenging assignments or don’t see how their position plays into the overall mission and vision of the company. By providing a path to success, employers can motivate their employees through a sense of purpose when they walk through the door every day.

Myth: Employees love trendy workplace policies and perks.

We see perks like work from home policies popping up left and right, but is this really what employees want? Often these employees become victims of “out of sight, out of mind” by the very policy meant to incentivize them.

Truth: Employees want to be heard.

While offering remote working perks is great for some, the root of the issue is that employees want to be heard. With increasing diversity, it’s key that employers take the time to listen and understand the challenges of their workforce, and ensure that everyone feels like part of the team.

Myth: Every manager knows what it takes to engage employees.

The Association for Talent Development states that a “New survey finds that most managers enter the role without formal training.” It’s obvious that employee engagement, like other management skills, involves proper training and development which is simply not a focus in many of our business practices.

Truth: Every manager needs to learn how to engage employees.

There are so many things we think about employee engagement that simply aren’t true. As part of your onboarding practice, managers should learn the keys to employee engagement, starting with knowing the difference between employee engagement and employee happiness. New manager? Start here.

Myth: Non-cash rewards don’t work as well as cash.

Think a $50 bill is better than a pat on the back? Yes, there is a time and a place for putting your money where your mouth is; but, research shows that more and more employees are seeking recognition and rewards above monetary compensation.

Truth: Recognition and rewards improves business results.

Bersin & Associates, through extensive research, proved that employers who implement employee recognition practices produce 12 times more business results than their counterpart. This evidence is huge in not only showing the importance of recognition on employee engagement, but also its impact on the overall success of our business.

Don’t let what you think about employee engagement trump the realities of what your employees want.

The Hidden Challenges of Working Remotely

working remotely perkspot culture

A trend emerging in our 21st century workplace: the ability to “WFH”, or Work from Home. There’s nothing better than rolling out of bed, plopping yourself on the couch with your laptop, and getting to work.

Or so…. That’s what we used to think until we heard from employees who actually had the luxury to work remotely. Here’s what we found out.

Remote workers are often lonely.

There is something to be said about going into an office and seeing the same faces everyday. Working from home is often very isolating. There are few people to run your ideas by or even chat about that funny email you just got. In fact, Forbes reports that laughter in the workplace makes employees more productive.

Remote workers have a hard time getting things done.

While not only isolating, contrary to popular belief, it’s also hard to be productive when working remotely. When you collaborate on a project or try to solve an issue quickly, remote work presents new challenges. What is usually solved by turning around in your chair, might take over a day without that luxury. Of course, there are exceptions to this rule. For technical writers, developers and the like, working alone is necessary to get into an intense focus mode this type of work often requires.

Remote workers are not necessarily more engaged.

For many businesses, offering flex time is a luxury provided in hopes of increasing employee engagement and retaining excellent employees. However, what often happens is that these employees, especially those who are full-time remote workers, fall into the “out of sight, out of mind” philosophy. For many, they feel forgotten by their employer who previously may have been a great mentor and resource to them. They miss out on these resources by simply not physically being around.

While there are clear benefits to offering flex time for employees, it’s also evident there are new challenges arising with this popular perk.

Does your business offer a work from home policy? What challenges or benefits have you seen with this implementation?

Are Perks and Benefits the Same Thing?

perks and benefits perkspot culture

We love perks so much we named our company after them.

But what are perks and how are they different than benefits when it comes to the workplace?

Benefits

Benefits are supplemental to salary and cover basic needs like health insurance, 401K plans, etc. While benefits are absolutely essential for companies, they also come at a price. Most benefits offered to employees cost the company something, unlike our favorite counterpart, the perk, which costs little to nothing for employers to implement.

Perks

Perks encompass everything from bike racks and lounge areas in the office to catered lunches and oh yeah, exclusive discounts on your favorite brands. While benefits are often costly, perks can be offered at a relatively low cost to employers but offer extreme value to employees. Offering perks alongside necessary benefits and compensation packages creates a powerful force when it comes to ensuring employees stay engaged and motivated in their offices. However, like all things, just making these perks available in and of itself is not enough to sustain and retain employees. As more and more businesses begin offering these incentive programs, competition increases when it comes to recruitment and retention. While nearly unheard of 20 years ago, workplace perks are more and more becoming the norm. Companies like Starbucks, Southwest Airlines, and other PerkSpot clients realize this, and that’s why offering perks are non-negotiable.

All Perks are Not Created Equal

So now the question is no longer, will we offer a perks program, but which program will we choose? Overwhelmingly, employees today request perks that improve their everyday lives, such as free gym memberships or discounts on everyday expenses such as groceries and cell phone plans. These programs are more likely to resonate with employees because they show that the employer is listening. It reaches the heart of what all employees truly desire: to be heard and understood. PerkSpot’s mission is to make that a little easier for employers. We negotiate the discounts so you don’t have to. We provide the tools to communicate with employees on how to use the platform, where to find the discounts, and even deliver the latest and greatest perks right to their inbox.

Want to learn more? Reach out to us at sales@perkspot.com

Don’t just offer perks. Offer the right ones.

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The Illusion of Busyness

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“I’m so swamped”
“Just trying to keep my head above water”

You may have uttered one of these phrases at some point this month, week or even just a few hours ago. But is it busyness that has us feeling overwhelmed or, like a mirage in the desert, is it merely an illusion?

Technology has advanced at such a rapid pace I wonder if we are really as busy as think or if we simply have an unhealthy relationship with time. In fact, I think deep down some of us like saying these phrases as if they somehow make us feel important or purposeful. Multi-tasking is no longer a skill that only the most successful possess, but something that inundates the ins and outs of our everyday lives. But while we may get things done when we multitask, we often neglect to do things well.  We find ourselves running around from one task to another all for the sake of feeling “busy”, but never really accomplishing anything. Priorities are out of line and our work begins to suffer.

So how do we dispel the illusion of busyness in our lives? Is it even possible?

First of all, breathe. I think many of us grab our coffee and sit in front of our inbox dreading the day to come. When we let the weight of our tasks overwhelm us, it’s easy to lose sight of the big picture. Take a breath in the morning and spend time planning out your day. Prioritize tasks based on their importance and deadline. With a clear vision in front of us, the work will seem less monumental and more manageable.

Secondly, do something that you’re passionate about. We spend a lot of time just going through the motions of our days without focusing on the things that truly make us happy. If you’re truly passionate about your work (and I hope that you are!), spend time developing a new skill, read an educational book, or attend a seminar. These activities will renew your passion and keep you moving forward. If your passion lies outside your nine-to-five, jump into a cooking class, take photography lessons, or just spend time with your friends and family. Prioritizing our passions can refresh us and more importantly, give us purpose beyond our full agenda.

Remove the word “busy” from your vocabulary and start prioritizing. At the end of the day, you may not respond to every email in your inbox, but that doesn’t mean you weren’t productive.

Technology and the Office: Not Just for Silicon Valley

technology office work perks perkspot culture

When we think of company culture, words like “employee engagement”, “recognition” and “opportunity for growth” come to mind. But where does Technology rank when it comes to our values as an organization or company, and how is this affecting our employees?

As the CHRO of cloud-based finance and HR software Workday, Ashley Goldsmith, eloquently states, “We’ve found that you can’t create a culture just through values, new processes, or an organizational restructure. Those things are necessary, but we like to think of values as the beating heart of culture, processes and organizational structure as the brain, and technology as the nervous system that makes sure heart and head are working together to move us forward.”

Technology improves communication flow.

Cloud-based systems, video-conferencing software, and the like are paving the way for smoother communication in the workplace. The bonus is that many of these applications have free versions available. These tools enable employees to work smarter, not harder.

Technology fosters feedback.

Similar to improving communication, we use technology at PerkSpot to develop more ways to generate feedback, both internally and externally. We use platforms that allow our employees to respond to customer service issues quickly and efficiently. Meanwhile, internally, we use a system to monitor everything from typos on our site to larger kinks that need attention. In this way, we spend less time dealing with issues and more time finding solutions.

Technology encourages collaboration.

Messaging applications are great for encouraging collaboration amongst employees. While many feel that this constant communication decreases productivity, studies show that even when coworkers drift away from the task at hand, laughter shared helps promote creativity and innovation.

In the same way that the body cannot function properly without the nervous system, our offices cannot survive without technology.

What are some ways you use technology in your workplace? Leave us a note in the comments!

Introducing the “Pre-Cation”

pre-cation employee perks program perkspot

In the land of start-ups a new trend is emerging called the “Pre-cation”.

If you’ve ever interviewed for a job, chances are one of the questions you were asked throughout the process was, “how soon can you start?”. Most of us jump right in after the obligatory two-weeks notice in our former roles just to fall into the same old trap of limited vacation days and fears of what will happen if we actually do decide to leave the office for a few days.

As a way of dispelling these fears companies like Atlassian, have taken a fresh approach by offering new hires paid time off before they even work their first day. As they put it,  “This is all in the spirit of our “Build with Heart and Balance” value, in which we encourage all new teammates to start refreshed, recharged, and revitalized so they can bring their A-game when they start work.” Especially if you’ve left a job that was frustrating and draining, this little break could be exactly what you need to start off on the right foot in a new role.

It’s no secret that we struggle to find that perfect balance between work ethic and being a workaholic. By rewarding employees before they even start, the “pre-cation” helps to ensure new they leave the stress behind and start fresh. And what’s more is that by eliminating stress, retention levels are higher which can actually save employers funds they would have otherwise spent on recruitment and development.

Of course, the “pre-cation” is not without its faults. Starting a new job can be stressful in-and-of itself, so many people may find they are unable to relax and clear their minds before jumping into their new position. Not to mention, someone is paying for this time off. Unless you’ve come into a huge round of funding or already manage a very successful business, most companies cannot afford the luxury of giving employees this time off. Many of us are hiring to fill a void and therefore simply cannot afford to wait.

While flexible time-off policies may be trending, it seems the “pre-cation” notion may take some getting used to.

The good news is that you don’t have to offer your employees a “pre-cation” to be a great employer. Start by offering your employees exclusive perks through PerkSpot.

Team Building Activities Just in Time for Summer!

The sun beams down warming your face through the window. You can smell the fresh air peeking through as you take a sip of your iced tea, relaxing in your chair. Your eyes wander and your mind is clear. Summer is here.

But, unfortunately, this isn’t you on a tropical vacation. This is the distraction of summer making its way into your office. As the temps warm up, our minds tend to dream of greener pastures.

Don’t fight the feeling: take your work and your team outside and engage in some fun team-building activities.

team building activities perkspot culture employee engagement

Fox Business states, “When the global marketing firm McCann WorldGroup surveyed 7,000 Millennials in 2011, it found more than 90% of those surveyed rated “connection and community” as their greatest need.”

I know what you’re thinking, but we aren’t talking about blindfolding someone and leading them through a maze or practicing trust falls. These age-old activities are outdated and more likely to make your team groan. True team-building happens when you have fun, laugh and share an experience together.

Here’s a few ways to build up your team this summer:

Give Back

Take some time this summer to give back. Encourage employees or coworkers to volunteer in the community. Find ways to give back at volunteermatch.org or catchafire.org. In fact, when employees spend their time on other people, they often feel like they have more time to spare!

Ready, Set, Sports

There are many ways to use sports to bring your team together. Grab your colleagues and join a city league. David W. Ballard of the American Psychological Association says this of teams who practice physical activities together, “Employees have lost weight and report a higher awareness of wellness issues, strengthened sense of community, improved morale, and increased motivation.”  For the observers, check out a baseball game or cheer on your company athletes as they go for the gold.

Strap On Your Fanny Packs

Summer is the perfect time to explore your city. Visit famous monuments, tour a museum or hop on a Segway tour. You’ll create memories and learn something along the way.

Learn Something New

For many offices, summer is a slow season. Take the opportunity to learn something new together through professional development courses or attending a conference. This will leave your team rejuvenated and impassioned upon returning to work.

Save money on your next office adventure with exclusive tickets, entertainment and even local discounts through PerkSpot!

Does This Office Make Me Look Fat?

We spend a lot of time with our coworkers. For better or worse, we pick up their habits. Which means, the office could be the demise of our well-intentioned diet plans.

Stay slim with these tips, even in a candy-bar filled office.

Eat breakfast before you get to work.

We get it. It’s early. You’ve snoozed five times. The last thing you want to do is make breakfast. However, everyone knows breakfast is the most important meal of the day. You’re less likely to eat once you leave the house and start on your endless inbox, so instead of grabbing a protein bar at work, make some quick overnight oats, or the oh-so-trendy avocado toast.

Make time for meals.

Ok, workaholics here’s looking at you. We know, those 30 minutes at lunch are precious moments where you can wrap up that email or send off that report. Don’t compromise on meal time. Make sure you take time to eat lunch so you’ll come back to your desk refreshed, re-energized, and focused.

Don’t forget the H20.

None of us drink enough water. It’s easy to forget to fill up on H2O between coffee cups, but instead of sipping on that third cup of coffee at 10am, reach for your water bottle. And for the truly unmotivated, try this clever Pinterest hack to stay on top of your water game.

Snack time is the best time.

Snacks are what make or break you when it comes to your diet. Make sure you pack healthy snacks to keep you satisfied between meals, such as almonds, yogurt, or fruit.
office is where we go to diet

Show your employees you’re dedicated to their personal wellness by offering exclusive discounts through PerkSpot! From gym memberships to restaurant gift cards, there is something for everyone. 
Contact us to find out how!