Coca Cola. Google. IBM. Apple. Starbucks. Microsoft. Mercedes Benz. Zappos. Amazon. What do all of these companies have in common? Besides having a global market following and a very healthy balance sheet, these companies have at least one other thing in common: the ability to attract top talent just based on reputation. Companies that attract top talent are likely to stay at the top of the Fortune 500 list because human potential is the one thing that cannot be forged, copied, imitated, duplicated or easily replaced. So attracting top talent breeds success and success attracts top talent.
Indeed, human resources are probably the most important asset of any company. Employees are responsible for the quality, quantity and consistency of its products and service. Employees bring creativity to bear on behalf of employers. Employees do all the heavy lifting that keeps a business running. And ultimately it is the workers who interact with, win and retain customers. It is their ingenuity, skills, effort, passion, work ethic, and attitude which largely determine the success, mediocrity or failure of an organization.
That is why, every day, companies are not only competing to generate sales and win customers, they are also in a race to attract and retain the most talented workers. From entry level employees to C-suite executives, every company wants – or should we say needs – to employ the best and brightest. When the economy was in a tailspin, the most talented, skilled and experienced employees hunkered down and stayed put even in companies where they were no longer satisfied, appreciated and/or challenged. The best and brightest kept from changing jobs even when they were overworked, underpaid or both. But with the economy ‘turning a corner’ and the unemployment rate slowly dropping, companies will soon – if they aren’t already – need to compete to attract the best workers. The most qualified candidates are likely to look first to companies with a solid reputation. So just how much does a company’s reputation impact its ability to attract top talent? Continue reading
Presenteeism is a work issue that is more costly to businesses and more pervasive in workplaces than absenteeism and tardiness combined. Estimates for business losses from presenteeism range from $150 to $250 billion annually and many think that it is as much as three times that. Employers are only just starting to realize and contend with this HR issue.
Part of understanding and coping with the issue has been to define it. Once thought to describe only employees who weren’t fully productive at work because they were working sick, today the term presenteeism is used to describe employees who are less than fully productive at work for a myriad of reasons including acute, chronic or episodic illness, difficulty adjusting after an illness or injury, a major personal or family problem, child care or elder care demands, or deep employee dissatisfaction. Given how prevalent it is and how costly it can be, is there anything that employers can do about presenteeism? Here are seven winning strategies to help reduce presenteeism. Continue reading
Absenteeism is a work behavior that every manager and Human Resources department deals with and dreads. When an employee fails to report to work, it often creates a hardship for that employee’s coworkers, manager and — depending on the position — customers. It is to be expected that employees may have to miss work occasionally due to all kinds of reasons. But it is actually a fairly expensive problem that is on rise. According to the U.S. Bureau of Labor Statistics, unplanned absences cost American businesses an average of 2.8 million workdays each year – equivalent to the loss of $74 billion dollars. Others think the cost to business may be three times as high.
Yet, as expensive as absenteeism is, there is a work-place issue that is even more costly and pervasive, affecting a much larger part of the workforce. It is called presenteeism. The term presenteeism originally referred to employees that aren’t absent from work but aren’t fully productive at work because they are sick. However, since then the definition of presenteeism has been expanded to include other reasons that cause employees to be less than fully productive at work. Today, employers and HR Departments have shifted their focus from issues such as tardiness and absenteeism to the larger and more pervasive problem of presenteeism. Considered now to be one of the biggest HR issues facing business, just exactly what is presenteeism? What is its cost to business? And, most importantly, what can be done about it?
Employees are every company’s greatest asset and resource. Each worker brings his/her talents and skills to bear on behalf of the organization. Ingenuity. Creativity. Problem-solving. Writing. Speaking. Listening. Coordination. Instruction. Persuasion. Negotiation. Judging. Decision-making. They provide a wealth of skills and talents that no computer or robot can perform as well. Yet, human resources are also the most time-consuming, difficult to manage and maintain, and fluid of all company assets.
Unlike machines or inanimate objects, people have feelings and personal problems that can affect their work. They are impacted by forces outside their control such as children, weather and traffic. Sometimes they are just having ‘bad days.’ In short, they are human. These personal issues can not only bleed into their work life in minor ways such as reduced concentration, inability to stay focused on work, or expressing a bad attitude, employee problems can also eat into company profits. There are a number of ways in which employee issues can affect work behavior which, in turn, result in tangible costs to a company. One of the most common work-related behavior issues is tardiness. Anyone – probably everyone – is late to work once in a while. But when this work-related behavior is chronic, it is not just minor irritation for a company…. it affects the bottom line. At what point should tardiness be addressed? And just how much does this work-related behavior cost companies? Continue reading