Connecting the Dots

Connecting the Dots

by | Oct 12, 2021 | Corporate Culture, Creativity at Work, Future of Work, Human Capital, Human Resources, Innovation, Labor Markets, Leadership Agility, Management, Performance Management, Pivoting, Productivity

This chart is eye grabbing.

Most reading this blog will easily recognize the vast majority of these logos.  You aspired to work at some, you DID work for some.

One logo immediately caught my eye.  In my days as a credit analyst, I signaled they were facing headwinds. In return, I got an extreme dressing down. The summation of that boss’s lecture? They were one of the largest companies in the country so how could I possibly even think to suggest that they were anything but stable?

The companies that have fallen off of this chart have done so for various reasons, for some it was hubris, for others an inability to pivot, in other cases, tastes change. A lack of innovation led to the demise of many.

Just yesterday, Jack Kelly had a piece in Forbes about the ultimate innovation: tailoring jobs to the individual needs of the various workers. Given the current labor and talent shortage in the U.S., this is exactly the right sort of solution for many organizations.

When firms can keep a clear focus on the deliverable, the output, where or how something gets done is less important.

Kelly says:

Consider how much better work would be if managers held conversations with their team, actively listened to how they’d like to work and then designed the job around their needs. Morning people could start early. Night owls can begin later in the day.

I lived this. Over 20 years ago at PwC, we had a well-oiled team that knew each other’s bio-rhythms and peak productivity hours.  We joked that there were probably only three hours that someone from our group wasn’t awake and available; one person was an extreme lark that got into the office at 5:00 am, while another was such an extreme night owl that we regularly got emails from him at 2:00 am, working remotely.  That is when I started experimenting with working from home … which one secretary dreaded because in uber-efficiency mode I banged through my To Dos, which then required her involvement.

As so many HR experts have reiterated: there are two ways to measure performance – inputs and outputs.  Do you want to measure the hours that you see someone in (or their jacket on) their chair? Or do you want to measure what they deliver? The RESULTS.

Go back to that left hand side of the graphic.  What happened to the temples those companies built? Big Stan in Chicago? GE Headquarters in Connecticut? The Sears Tower? They filled up with employees each morning and emptied every night.

Big buildings don’t matter.  That S&P graphic is based on results.

 

 

If you heard what we heard …

If you heard what we heard …

by | Oct 5, 2021 | Economy, Future of Work, Human Capital, Human Resources, Leadership, Management, Work Place

It happened again the other day.

What I heard would surprise no one in HR.

Someone knew I did something in HR and needed to unburden.

The person, who approached as though THEY were the sinner, wanted some clarity, some understanding, some reassurance.

Meanwhile the transgressors never seem to seek counsel. 

The mindset of many employees was summed up recently:

“They’re actually questioning the whole meaning of the daily grind. Why do we put so much of ourselves into our careers? And are we getting a fair deal from our employers in return for all of this stress and heartache?”  Read More Here

When they vote with their feet, their answer is: NO – we aren’t getting a fair deal. Often it is not about the money, it is about the recognition of the sacrifices or tradeoffs that they’ve been making: maybe for 18 months, perhaps for a decade … or two.

It is one thing to joke that HR folks are like priests in a confessional – we’ve heard and seen it ALL BEFORE … and we will carry some secrets to our graves to protect those that have confided in us. 

It is another when too many in leadership positions fail to have faith in what HR experts try to impart, for decades.

The non-sinner has moved on, with a clear conscience, now free from a non-enlightened employer. 

Leadership’s penance?  Trying to fill roles left vacant by once loyal employees.

[Human] Capital Calibration

[Human] Capital Calibration

by | Aug 17, 2021 | Competencies, Corporate Culture, Covid-19, Economy, Future of Work, Hiring, Human Capital, Human Resources, Jobs, Labor Markets, Productivity, Work From Home

Manufacturing equipment has come a long way since 1964. The environment in which you put your equipment?  Back then, a somewhat level floor, a power supply, fans for HVAC, and what was a little grease on the floor? You turned it on, and assumed it would run.  When you invest in a sophisticated machine today, you may build a special room, complete with its own HVAC and filtration. You wouldn’t dream of operating this equipment without the needed care and calibration. Your organization ensures that those responsible for the care and upkeep of this huge capital investment have the requisite technical expertise to protect your investment; you wouldn’t dream of leaving it to someone that didn’t know what they were doing. Yet why are we okay doing that to our largest investment: our employees.

The current conversation about “back to the office” seems a lot more like 1964, the year that Gary Becker published his first book on human capital. He rocked the world of economics and business with his work on the value of human capital ––  people were one of your most valuable assets.  It paid to further invest in them now that their life span was longer and technological advances made new skill acquisition imperative.

We sit here in 2021 as the seeming randomness of Covid deaths and quarantining has given Americans plenty of time to pause to reflect on the meaning of life. For many Americans, they are finally understanding their worth as a unique model of human capital.  They’ve grown to understand the distinctive sets of skills that they have acquired, honed, and refined over the years AND the optimum conditions under which they perform.  When an employer doesn’t understand that, enter…

The Great Resignation

One of my favorite Total Rewards thought leaders, John Bremen, has written a great article, advising how organizations can turn The Great Resignation into the Great Hire.  He very rightly points out that more people have been hired in 2021 than have quit – which side of the equation is your organization on?

Solution? It’s not about going back to “the way we always did things.”  It IS about recognizing the conditions under which employees can turn in peak performance and earn their organizations more gold.

 

Business up top, pajamas on the bottom!

Business up top, pajamas on the bottom!

by | Nov 17, 2020 | Corporate Culture, Covid-19, Human Resources, Work From Home

By Lisa Aggarwal

I really thought that I was prepared.  

As a Catholic school student, I endured endless detention threats regarding dress code violations. As an HR professional, I have mediated endless dress code disputes. I’ve coached clients on how to appear more professional via their attire. Corporate offices were previously “business casual,” now they are “CASUAL casual.” It seems that so much of our culture is linked to our external appearance. We are even taught to dress for the role we seek. I thought I had nailed how to dress for success. 

But this is a new day. Just as Chicago has issued a new stay-at-home advisory for the next 30 days in response to rising Covid-19 cases, I get hit with these two articles. On the same day, within five minutes. 

We know that video conferences and remote work have opened a gateway to a more casual corporate uniform–but are sweatsuits the new power suit? Sometimes I will throw a blazer on to give the impression I mean business (all while wearing my yoga pants)…but now I need one with shoulder pads? Maybe I should just keep a “Zoom shirt” in my office (by office, I mean kitchen) for video conferences and call it a day. Hopefully I don’t end up like one of my countless friends who accidentally have stood up during an online meeting only to expose their pajama bottoms. 

Today, it seems that most of us are just seeking comfort, in any form. Perhaps this will cause a subliminal shift to pay less attention to external appearance and more to an employee’s value and contribution. Or one can only hope!

How has your business handled dress codes, or lack thereof? 

Nightmare at the Office: Budget Time

Nightmare at the Office: Budget Time

by | Oct 29, 2020 | Covid-19, Creativity at Work, Hiring, Human Resources, Innovation, Management, Strategy

By Margaret Jungels

Halloween’s upon us, but it’s not just ghosts, ghouls, and goblins that are keeping us up at night. Even without Covid-19, these recent months of wildfires, social unrest, politics, hurricanes, and murder hornets are enough to push even the most zen among us over the edge.  

To top it off, amidst all this uncertainty, it’s time to start planning next year’s budgets! How do you predict anything about next year while still in a year full of “unprecedented times”? What costume or cape can you put on to possibly help with this task? 

Good advice for our kids, is good advice for all of us right now:  focus on what you can control and things that matter.

As your leadership team contemplates 2021, the things that you can control, and the things that really matter, reflect on how you have been able to survive 2020—your employees and their ability to adapt, innovate, and pivot weekly, if not daily. So, when thinking about how to budget for salary increases in the coming year, what should you do? What can you do?  

  • You can put together a process. Document the process. If you have a process from a previous year, review it, update it, and share it with everyone who touches it—people managers, finance, HR, and payroll. Make sure that people know what is expected of them, remind them in advance of due dates, and update the plan as you go. (This you can control)
  • There’s a lot to think about when determining how to allocate your salary budget. How have labor markets changed in the past year? Do some departments or roles compete for talent differently than others? Has Covid-19 created hot or hard to fill jobs? But beyond all this, the issue of pay equity is here to stay. Allocate your salary budget in a way that advances pay equity.  Let an analysis of current pay equity direct your budget allocation and drive changes to the way you pay, develop, and promote. Even with a relatively small budget, you can make sure that pay changes are advancing pay equity.  (This matters) 

And even though the world seems topsy-turvy, there’s still a lot that hasn’t changed. According to Willis Towers Watson’s 2020 North American Compensation Planning Pulse Survey, 84% of companies plan to deliver their pay increases on schedule. And while some companies (approximately 35%) plan to lower salary increases next year, the survey predicts a 2.6% average salary increase for non-executives—not so far off previous years. According to PayScale Market Trends the Technology and Transportation sectors remain strong and lead annual increase trends, but most other sectors are still doing relatively well. In some cases, even in Entertainment and Hospitality who have seen many layoffs, market rates of those who remain employed have been driven up.  

Finally, two things we can promise you—we’re here to help you navigate these tricky times, and, we’ll save you some fun-sized Kit Kats for when we can meet in person again!