Tag Archives: benefits

The Real Reasons Employees Stay Or Leave

Hint: It’s about more than money

The Real Reasons Employees Stay Or Leave

GUEST POST from Shep Hyken

What if every great employee you (or your company) hired never left? Of course, that’s unrealistic … or is it? Joey Coleman is one of the brightest authors and speakers on the planet. His first book, Never Lose a Customer Again, is one of the very best books I’ve read on how to keep your customers coming back. He’s now taken some of the same ideas that worked for customer retention and written a second book, just as brilliant, Never Lose an Employee Again.

Coleman studied and researched organizations worldwide, and he found that 50% of hourly employees quit before their 100-day anniversary. For non-hourly or salaried employees, it’s 20%. I interviewed Coleman on Amazing Business Radio to learn how we can keep good employees.

“How we onboard employees and make them feel part of our community can differentiate whether they will be long-time employees or leave almost as fast as they came,” Coleman said. “The first 100 days are the most important time in the entire relationship with an employee because this is where the foundation is laid.”

So, why do employees leave? Contrary to popular belief, the No. 1 reason an employee leaves to work elsewhere is not money. In the traditional exit interview, where an employee talks to their employer face-to-face, money is the easiest and safest excuse for an exit. The true reasons for leaving are more telling—and can help prevent an employee from going, even if offered more money somewhere else. Coleman cites the Work Institute employee retention study, sharing the top five reasons employees leave:

  1. No clear career path — This is the top reason employees leave. Nearly one-quarter (24%) don’t see future opportunities in the organization. Most employees want to advance their careers and learn new skills. Laying out a potential path for an employee from the very beginning of their employment with you can have long-term benefits.
  2. Stress or lack of resources — Not providing employees with the tools they need or giving them too heavy of a workload can impact their emotional health, which could lead them to find work at another company.
  3. Health and family matters — As much as an employee may love working with your organization, personal health, a sick child or an aging parent can interfere with their ability to work. Regarding the latter, Coleman says, “Just as some employers provide daycare for young children, some employers in the future will also provide an eldercare program.”
  4. Work/life balance — The job has to fit the employee’s lifestyle. Something as seemingly insignificant as a long commute can negatively impact the employee’s personal life so much that they leave.
  5. Money — Almost one in 10 (9%) leave because of money. That means nine out of 10 leave for other reasons, often within our control.

After reading the reasons listed above, here is Coleman’s top advice:

  • Affirm the employee made the right decision to come to work at your organization — The concept of affirm is one of the eight phases of the first 100 days Coleman covers in his book. There is a scientifically proven emotional reaction in which a new employee begins to doubt their decision to accept your job offer. It is called “new hire’s remorse,” which happens between when they accept the job offer and their first day. Reaffirm your new employee’s decision to accept your job offer. Establish a personal and emotional connection even before their first day.
  • On-boarding must be practiced at a higher level — Don’t just onboard the first day or two (or even a week or two). Coleman says, “If you’re not painting a clear path for your people but expecting them to manage and figure out their careers on their own, then you deserve to lose them.” The amount of time you spend with employees over the first 100 days directly correlates to how long they will stay.
  • The employee’s personal life is important — Notice that three of the five reasons people leave the organization are personal. Coleman says, “You need to know what’s going on between 5 p.m. and 9 a.m. as much as you are interested in what’s happening between 9 a.m. and 5 p.m. What are your people doing and dealing with when they are not at work?”

I’ve often said that you won’t have a business without customers. Coleman makes the case that the same applies to employees. Much of what gets customers to come back is a great customer experience. You can’t deliver a great CX without a great employee experience on the inside of your organization. Coleman says, “People think that customer experience and employee experience are two different silos. The better way to look at this is that they are two sides of the same coin. We must work on both!”

This article originally appeared on Forbes.com

Image Credits: Shep Hyken

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The Benefits and Challenges of Futures Research

The Benefits and Challenges of Futures Research

GUEST POST from Art Inteligencia

As the world continues to evolve at a rapid pace, it becomes increasingly vital for individuals, businesses, and governments to anticipate future trends and develop effective strategies to navigate the uncertainties that lie ahead. Futures research, also known as futurology or foresight, is an interdisciplinary field that aims to uncover potential futures and provide valuable insights for decision-making processes. This article explores the benefits and challenges of futures research and highlights two case study examples that demonstrate its practical applications.

Benefits of Futures Research:

1. Anticipating and Planning for Change: One of the primary benefits of futures research is its ability to help individuals and organizations anticipate and plan for change. By employing various analytical methods and tools, futures researchers can identify potential trends, disruptions, and emerging issues that may shape the future landscape. This gives decision-makers a valuable advantage in understanding the scope of potential challenges and opportunities, allowing them to proactively adapt their strategies and make informed decisions accordingly.

Case Study Example: Shell’s Scenarios Planning

Shell, one of the world’s largest oil and gas companies, has successfully utilized futures research techniques to adapt to changing energy landscapes. In the 1970s, amidst the oil crisis and mounting environmental concerns, Shell developed a set of scenarios to explore alternative futures in the energy sector. These scenarios provided a framework for decision-making and helped Shell anticipate the rise of renewable energy, leading to investments in solar, wind, and biofuels. This groundwork enabled Shell to diversify its portfolio and transition to a more sustainable energy company over time.

2. Inspiring Innovation and Resilience: Futures research fosters a culture of innovation by encouraging individuals and organizations to explore new possibilities and challenge conventional thinking. By examining potential futures, researchers can identify gaps, unmet needs, and disruptive trends, stimulating creative thinking and novel approaches. This, in turn, enables the development of innovative products, services, and strategies that can lead to a competitive advantage.

Case Study Example: Xerox’s PARC Research Center

Xerox established the Palo Alto Research Center (PARC) in the early 1970s to focus on exploring the future of computing and technology. PARC researchers anticipated various advancements in personal computing, including graphical user interfaces, ethernet networking, and laser printing. These foresight-inspired innovations laid the foundation for Xerox’s success in the technology market and significantly influenced the development of modern computing as we know it today.

Challenges of Futures Research:

1. Uncertainty and Complexity: Futures research is inherently confronted with uncertainty and complexity, making it challenging to accurately predict specific future outcomes. Multiple variables, unexpected events, and the interconnectedness of systems can often lead to inaccurate forecasts. The future is shaped by a multitude of factors, including political, social, economic, technological, and environmental influences, making it difficult to capture all possibilities comprehensively.

2. Perceived Lack of Relevance and Adoption: Another challenge of futures research lies in its perceived lack of relevance and adoption across various sectors. Many decision-makers tend to prioritize short-term goals and immediate challenges, overlooking the long-term view that futures research provides. Overcoming this challenge requires a shift in mindset that recognizes the value of investing time, resources, and attention in long-term foresight, as it offers unique insights and strategic advantages.

Conclusion:

Futures research holds immense value as a tool for planning, inspiring innovation, and enabling better decision-making by anticipating potential future trajectories. Through case study examples like Shell’s Scenarios Planning and Xerox’s PARC Research Center, we have seen how futures research can lead to successful adaptations to changing landscapes and the development of groundbreaking innovations. However, it is essential to acknowledge the challenges inherent in such endeavors, including the inherent uncertainty and the need for widespread adoption. By embracing futures research and embedding it into decision-making processes, individuals, organizations, and societies can proactively prepare for the unknowns and shape a more resilient and sustainable future.

Bottom line: Futurists are not fortune tellers. They use a formal approach to achieve their outcomes, but a methodology and tools like those in FutureHacking™ can empower anyone to be their own futurist.

Image credit: Pixabay

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The Benefits of Human-Centered Design in Business

The Benefits of Human-Centered Design in Business

GUEST POST from Chateau G Pato

Human-Centered Design (HCD) is a customer-centric approach to product design, marketing, business development and customer service that is quickly becoming an important business strategy. HCD focuses on understanding the needs and desires of customers, enabling companies to better understand the desires of their customers, develop more competitive products and services, and create more effective long-term customer relationships.

There are many benefits to the application of HCD in business, such as enhancing innovation, improving customer loyalty, and reducing development costs. HCD is also an effective tool for gaining insights into customer needs and wants, enabling companies to create better products and services that meet those needs and wants. Let’s take a look at the key advantages of applying Human-Centered Design in business, through two case studies.

Case study 1 – L.L. Bean

The US-based retail apparel brand, L.L. Bean, wanted to create an omnichannel retail experience for their customers. To achieve this, they employed human-centered design, allowing them to understand how customers shop, how they expect their shopping experience to be, and what they value from the experience. The HCD approach enabled them to develop a personalized experience that satisfied their customers’ needs and wants, and resulted in a 50% increase in their online sales within the first three months of the implementation.

Case study 2 – House of Fraser

The UK-based lifestyle retailer, House of Fraser, was facing increasing competition from online retailers such as Amazon and needed to make a competitive shift in their business. To do so, they incorporated a human-centered design process into their digital transformation plan. Through user research, interviews, and market analysis, they identified key customer needs and demands, enabling them to develop innovative products and customer service offerings that met their customers’ requirements. This resulted in increased customer loyalty and an improvement in market share.

Conclusion

Clearly, there are numerous benefits to using human-centered design in business. By allowing companies to gain insights into their customers’ needs and wants, and to create better products and services that meet those needs and wants, HCD can help businesses stand out in their competitive environment. Furthermore, by enabling companies to focus on customer satisfaction, HCD can promote consumer loyalty and increase market share. If you are a business looking to remain competitive in today’s market, then implementing Human-Centered Design could be a great strategy for you.

Image credit: Wikimedia

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The Benefits of Change Leadership in the Workplace

The Benefits of Change Leadership in the Workplace

GUEST POST from Chateau G Pato

Change is a common phenomenon in the workplace, and organizations must be prepared to respond and adapt to new trends, technologies, and ideas. Change leadership is a powerful tool for organizations to navigate through these changes and ensure success.

Change leadership is the ability to identify, initiate, and manage change within an organization. A successful change leader must have the right skills and knowledge to lead the organization through a period of transition.

The benefits of change leadership in the workplace are numerous. Change leaders are able to create a vision for the future of the organization, which can act as a guiding force for employees and help to motivate them to achieve the desired outcomes. Change leaders can also help to identify and implement new strategies, processes, and technologies that will help the organization to stay competitive. In addition, change leaders can help to foster an organizational culture that is open to change and encourages collaboration and innovation.

To illustrate the benefits of change leadership, let’s look at two case studies.

The first case study is about a large healthcare provider. This organization was facing challenges in meeting the increasing demands of their customers. They needed to find ways to reduce costs and improve efficiency. To address these issues, the organization hired a new change leader. The leader was able to identify and implement new strategies, processes, and technologies that helped to reduce costs, improve efficiency, and increase customer satisfaction. The change leader also created a vision of the future and developed a culture of collaboration and innovation.

The second case study is about a manufacturing company. This company was struggling to stay competitive in an ever-changing market. To address this issue, they hired a change leader. The leader was able to identify and implement new strategies, processes, and technologies that allowed the company to stay competitive. The change leader also created a vision for the future and developed a culture of collaboration and innovation.

These two case studies demonstrate how change leadership can be beneficial in the workplace. Change leaders are able to identify and implement new strategies, processes, and technologies that can help organizations to stay competitive and successful. They can also create a vision for the future and foster an organizational culture that is open to change and encourages collaboration and innovation.

Change leadership is an important tool for organizations to navigate through periods of transition. By having the right skills and knowledge, change leaders can help organizations to stay competitive and successful. With the right strategies and processes in place, organizations can ensure that they are prepared for any changes that may come their way.

Image credit: Pexels

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The Benefits and Challenges of Using Futurology to Predict Future Trends

The Benefits and Challenges of Using Futurology to Predict Future Trends

GUEST POST from Art Inteligencia

Futurology is the study of predicting future trends and advances in technology, economies and social structures. It is a field of research that has been gaining traction over the past few years, and many believe that it can help us better understand the future and make better decisions. While futurology can provide us with insight into what is to come, there are both benefits and challenges associated with using futurology to anticipate future trends.

Benefits

1. Improved Decision Making: By using futurology to anticipate future trends, businesses, governments and other organizations can make more informed decisions that are based on a greater understanding of the environment they will be operating in.

2. Greater Anticipation: Futurology allows us to better understand the future and anticipate potential changes before they occur. This can help us to prepare for these changes and be better prepared for whatever lies ahead.

3. Increased Efficiency: By understanding the future, organizations can more effectively plan and allocate resources. This can lead to increased efficiency and productivity.

4. More Accurate Forecasts: By using futurology, organizations can make more accurate predictions and forecasts. This can help them make better decisions and adjust their strategies accordingly.

5. Enhanced Planning: Futurology can help organizations develop better plans for the future. This can help them better anticipate and prepare for changes in their environment.

Challenges

1. Unpredictability: Futurology is not a perfect science and can be subject to errors and inaccuracies. This can lead to incorrect predictions and forecasts that can have a negative impact on decision making.

2. Limited Data: Data is often limited when it comes to predicting future trends. This can lead to inaccurate predictions and a lack of understanding of what is to come.

3. Technology Dependence: Futurology is heavily reliant on technology, and changes in technology can have an impact on predictions. Therefore, futurologists must be aware of this and be able to adapt to the changing environment.

4. Costly: The cost of researching and predicting future trends can be costly for organizations. This can lead to a reluctance to invest in futurology, which can limit its potential.

5. Time Intensive: Futurology can be very time intensive, as it requires extensive research and analysis. This can be difficult for organizations to manage, especially if they have limited resources.

Conclusion

In conclusion, while futurology can be a valuable tool for understanding and anticipating future trends, it is important to be aware of the benefits and challenges associated with using it. By understanding the potential benefits and challenges, organizations can better prepare for the future and make more informed decisions.

Bottom line: Futurology and future studies are not fortune telling. Skilled futurologists and futurists use a scientific approach to create their deliverables, but a methodology and tools like those in FutureHacking™ can empower anyone to engage in futurology themselves.

Image credit: Pexels

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