by CHRC | Jan 12, 2021 | Corporate Culture, Diversity, Equity, Inclusion, Future of Work, Human Capital, Innovation, Leadership Agility, Strategy, Work Place
By Lisa Aggarwal
Every day, I’m amazed by the innovation I have seen since the Covid-19 pandemic began. In order to survive, virtually every company has been asked to evolve and change the trajectory of its business. Every person has made changes to their routine and how they operate on a daily basis.
For those companies whose fiscal calendar begins on January 1, the traditional annual merit cycle is upon them. The good news: organizations who are managing to thrive despite a worldwide pandemic (i.e., not the restaurant and hospitality industries) are still planning on giving their employees raises.
Yet, the annual merit increase isn’t as “traditional” as you might think. Some of you might remember the days when you received a raise on the anniversary of your hire date. One of my colleagues recounts when moving to a yearly increase was unheard of, needing at least a year of change management for employees to understand why it would be any other way—or why it even happened this way in the first place.
As CHRC has been researching how companies are coping with this year’s cycle, the overwhelming answer is: it depends. According to a recent study by the Economic Research Institute, annual salary budgets remain around 3.0%, but many companies are only implementing actual increases around 2.2%. Some of that gap may be avoided by thinking strategically. Here are some questions to consider:
- Do you need to work on an annual review cycle, or should salary reviews only be done if revenue targets are met? Can that be quarterly, or can you wait until business recovers?
- Should you focus on promotions or retaining your high performers who, according to many reports, are still able to find new jobs with relative ease?
- Are your compensation programs and structures aligned with the external marketplace? Have any of your roles been affected by increases in your state or city minimum wage as of January 1? With remote working, do you now compete nationally for talent?
- What programs is your company implementing to address burnout and the around the clock work from home cycle? A recent study by AON indicated that the #1 concern when it comes to retaining female employees is not only childcare…it’s wellbeing. That concern doesn’t stop at the gender line. Do you need to think beyond Total Rewards to Total Wellbeing?
The more creative you are with how your financial resources are invested, the better you will be able to redeploy your assets. Are your merit increase cycles ready for a little innovation, or are they carved in stone?
by CHRC | Jan 5, 2021 | Creativity at Work, Human Capital, Innovation, Inspiration, Productivity, Skilled Labor, Strategy, Work Place
Over the holidays, I hung out with one of my most inspirational friends from my adolescence. We spent many hours together reliving her many escapades (and the ways in which she inspired me to ride along on her adventures), even though I will never be as brave as she is. We even giggled about her hairdos and fashions. Don’t worry, we were socially distant the whole time—Nancy Drew was safely ensconced in the covers of her mysteries that made up this year’s holiday puzzle.
Unlike last year’s ridiculous puzzle undertaking, this year’s was not frustrating—it was fun. While no one else in my family helped, many other things did help with this puzzle. Intimately knowing the artwork of many of these covers, the ability to discern the difference between fashion across the decades, and then of course, an eye for fonts.
At some point in the endeavor, I was struck by a thought that differed from last year’s insight. It was at the point when you have done enough of the hard work that you notice a piece, recognize the color scheme or font, and remark, “Oh, I know where this belongs.” I started thinking about the types of Aha! moments that only come from long hours and deep thinking—a shortcut won’t get you there. It is only from studying something and understanding its nature, from having the patience to get to that point, that you can make a break-through. My mind immediately went to the scientists who developed the Covid vaccines in record time. They have spent careers doing the equivalent of 20,000 piece jigsaw puzzles. Their knowledge base far exceeded color schemes and fonts, but at the core of the development, patience.
So, I spent the rest of my time with Nancy pondering patience. What in our lives today (pre-Covid) fosters patience? In an age when many kids grow up with knowledge, entertainment, and transportation, amongst other things, at the tip of their fingers, how do we impart the value and lessons of patience to them?
We should all be extremely grateful to all the scientists who developed the Covid-19 vaccines in record time. Their patience and deep thinking was the key to solving the world’s biggest challenge.
by CHRC | Dec 22, 2020 | Community, Creativity at Work, Innovation, Leadership, Sacrifice
I don’t know about you, but the last time I had this feeling about a year ending was probably 4th or 5th grade. In grade school, some of your personal heroes were the room mothers. They showed up at key dates: Halloween, the last day before winter vacation, and Valentine’s Day. I associate room mothers with sprinkles, you know the kind you find on cupcakes or amazing sugar cookies.
But the most important day that they refereed was that last day of school before winter break. Because the only thing that stood between a bunch of kids getting out of school for two whole weeks was that sugar infused party, complete with sprinkles.
Now this is when we take pity on any grade school teacher. Those poor teachers spent the entire morning trying to calm a class full of children that acted as though they had already ingested a container full of sprinkles before they even got to school. We wriggled in our seats, barely able to contain our excitement …. if it had snowed outside, the distraction reached new heights. So, in an effort to keep us in our seats those poor teachers, who we might add were completely exhausted from trying to teach an entire semester, thought that they would outwit us, by giving us games and puzzles instead of work to keep us occupied until those room mothers showed up.
We’d sit there with our pencils in our fingers and start on the worksheets. We quickly figured out the teacher had tricked us into doing some math before we could color in a winter scene, or do a word search to review our spelling words from first semester.
In tribute to all those teachers from our childhood, and all of those teachers who have been coping as best they can in the fall semester of 2020, here’s a word search in hopes that this just might distract you for just a couple minutes as you wait with fingers crossed, hoping that the principal will get on the intercom and let us out with early dismissal from this year.
by CHRC | Dec 15, 2020 | Community, Covid-19, Diversity, Equity, Inclusion, Innovation, Inspiration, Leadership, Strategy
December is a tough time of year.
I do not like the days getting shorter.
In typical Decembers, I do not like the craziness of holiday shopping, the hectic nature of too many invitations jammed into the early part of the month, and the frantic feeling BEFORE December 25th. But what I do enjoy about December? Candles and lights. The more candles and the more lights, the better.
Several years ago two wonderful authors entered my December. One wrote a moving children’s book and the other discussed how she, as part of an interfaith family, embraces December. The children’s book that I discovered, and delighted reading as a library volunteer, is called The Christmas Menorahs How a Town Fought Hate. It’s a true story from 1993, when Billings, Montana took a terrible hate incident and used it as both a teachable moment, and a moment of united defiance against hate. I then heard Chicago author, Barbara Mahany, discuss how she treasures the December darkness as deeply spiritual, as a way to go inside, to shut out the early December hecticness, to embrace the two candle-centric holidays that her family celebrates. In turn, I now cherish our Advent wreath that burns brighter as the days grow dimmer.
In this December of 2020, when most of the world is facing a darker December than most, when we could all benefit from lighting as many candles in the darkness until the vaccine lightens the darkness for us, perhaps you can find this special holiday book, and read it to a young person in your life? Or perhaps, in need of hope and light, you can just read it yourself to reaffirm that light is indeed stronger than darkness.
by CHRC | 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!
by CHRC | Oct 15, 2020 | Corporate Culture, Creativity at Work, Fail Forward, Innovation, Leadership, Pivoting, Strategy
… smarter than you think. – A. A. Milne
But perhaps only if you work in the right environment?
It is an environment in which the best leaders are going to foster, sustain, and reward innovation.
Yet easier said than done for leaders for whom this is a whole new paradigm. So, imagine the thrill when the Harvard Business Review published a wonderful “how to” article this week. The article not only reinforced the theme of last week’s blog—but the author was clever enough to give seven concrete ways to create the kind of environment in which people are going to feel comfortable taking chances. Experimenting. Improvising. Innovating. Being Creative. All the things that the Autumn of Covid requires.
The author, Timothy R. Clark, announces at the outset of his article that once you stop innovating, you die. He dubs the required culture one of Intellectual Bravery, a superb concept and phrase. Who is responsible for creating, cultivating, and sustaining this culture? The leader.
All seven of the techniques or behaviors he points out are wonderful, but if you could only do four, CHRC prioritizes these:
- Take your finger off the fear button – credit once again to John Cleese; sorry, Machiavelli
- Assign dissent – rotate the role of Devil’s advocate
- Model vulnerability – if a leader cannot do this after the last seven months … question his humanity
- Weigh in last – Probably the most valuable tactic of all. As consultants we have watched an entire day’s worth of desperately needed information and input get instantly silenced by a leader who airs his opinions first.
History rewards the brave, and apparently, so does innovation.