Why You Need to Focus More on Employee Onboarding

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Onboarding plays a large part in how long your new hire decides to stay with your company. Because onboarding provides a first impression of your business, you need to quickly connect with your new employee in a way that engages them and shows how you can help their career progression.

Here are four reasons why you need to focus more on employee onboarding.

  1. Recruitment

Effective onboarding begins during the recruitment process. In the Careers section of your website, you should provide information about your workplace and company culture. When a candidate comes in for an interview, they’ll already know a lot about your organization. You’ll be more likely to attract candidates who blend with company culture, align with business goals and become productive employees. Also, when sending a formal offer letter, you should include an employee handbook and the required legal forms that need signing. Your new hire should have all the paperwork completed before their first day and be acquainted with your company’s employment expectations and policies, which will ease the transition to a new job.

  1. Job Transition

Onboarding helps a new hire ease into their job. For example, send an email to all employees asking them to welcome your new hire. Also, have IT set up the new hire’s computer, software and email account. In addition, present basic information in an easily understood manner, such as where the copy machine and restrooms are, so the new hire can focus more on their job. The more comfortable and familiar the new hire feels in their workplace from the start, the more likely they are to blend with your organization and contribute to operations.

  1. Employee Performance

Onboarding has a significant impact on an employee’s performance. The faster a new hire feels welcome and prepared for their job, the faster they’ll begin contributing to the company. Therefore, HR needs to educate a new hire on their role within the organization, the company’s values and culture, and legal and policy-related issues. HR also needs to quickly connect the new hire with co-workers to begin forming personal and professional relationships. The sooner a new hire learns about the company’s history, values, employees and goals and shares their own personal stories, the more connected and welcomed the new hire feels. They want to focus on learning and growth so they add value to the organization.

  1. Career Growth

Proper onboarding shows a new hire how they can progress within the company. Onboarding should explain what’s expected of the new hire and what they need to do to be promoted. When a new hire sees a structured way to move up within an organization, they have a clear path to success. The new hire will be more open to continuous training, coaching and feedback to be eligible for promotions and help move the company forward.

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Five Ways to Avoid Micromanaging

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Micromanaging does your team members more harm than good. Your team can’t work independently when you’re watching their every move. Micromanaging also decreases morale and makes teammates not want to come to work or be productive. Here are five ways to avoid micromanaging, and become a more important and well-liked leader in the process.

  1. Delegate

Train your team members to handle the tasks you delegate. Figure out what work you absolutely have to complete yourself and what work is less pressing. Then, determine the time and skills necessary to complete the work you’re delegating. Discuss with your team what your priorities are, including which tasks add the most value and require the most time and attention. Assign the work to appropriate team members. Let your team know which tasks they’ll need your guidance and approval on, how much detail they should include in their status updates, and how often you’d like to be kept in the loop about their progress.

  1. Build Trust

Cultivate trust with your teammates by letting them lead projects and make decisions. When you first start doing so, check in with your team early and often. When they reach your desired level of competence, pull back to show you believe in their abilities. Set regular times for your team to check in and let you know how the project is going. If you don’t get the desired outcomes, let your team figure out how to arrive at the results you want. If they need help, step in at a reasonable point.

  1. Encourage Independent Work

Let your teammates work independently. They can’t get much done if you’re constantly asking what they’ve completed and when they’ll have the rest finished. Provide clear guidance and a check-in schedule upfront, then let your team go to work. Allow them to make and manage their own mistakes as much as possible, so they build their problem-solving and leadership skills. As they complete their work, focus on organizational objectives that have a stronger impact on the bottom line.

  1. Provide Support When Needed

Ensure you provide your team members support when needed. Although you want them to work as independently as possible, they’ll need your guidance at various times. Make yourself available to help solve problems and provide additional resources without becoming deeply involved in a project. Also, if the project is high stakes, request more regular check-ins with your teammates to ensure the work is being properly completed.

  1. Gain Feedback

Ask your team for feedback on your management style. Find out how you can best help each member complete their work, which may include doing things differently than you prefer. Also, ask whether your overall goals are clear and each teammate has the support and resources needed to accomplish them. In addition, request your colleagues discreetly monitor how well your team is completing their work. For example, ask your colleagues how a project is going and whether your team appears to need help. Take action accordingly.

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Hiring Trends in 2018 You Need to Know About

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As we move into the new year, many changes are happening with companies’ hiring practices. In some cases, hiring managers won’t even see your resume. Here are five hiring trends in 2018 you need to know about.

  • Apprenticeships Are Popular

Because Germany has been using apprenticeship programs to build its highly skilled workforce, the United States will follow suit. U.S. vocational schools, universities and organizations will begin implementing apprenticeships for manufacturing, trade and other high-skilled jobs. Benefits of apprenticeships include lower recruitment costs, increased productivity and reduced turnover. Also, because apprenticeships customize training to meet industry standards and increase safety, they may reduce workers’ compensation costs. Given the fact that Germany has a low unemployment rate due to a reliable pipeline of qualified workers, having apprenticeships in the United States may help reduce unemployment here as well.

  • Artificial Intelligence Assists with Hiring

AI and machine learning quickly analyze large amounts of data to make hiring decisions and predictions. HR can better define a job posting’s perfect candidate, find qualified workers in search pools and more quickly fill job openings. Companies like Unilever are using AI when hiring entry-level employees to increase diversity and decrease costs. This practice replaces collecting resumes, sending company representatives to universities or conducting phone interviews with candidates. When a candidate passes the AI screening process, they participate in an in-person job interview.

  • HR Takes a Team Approach

The new work model involves changing job roles and job descriptions, rethinking careers and internal mobility, and emphasizing skills and learning to measure employee performance. The model is also changing how leaders lead and how businesses set goals and reward employees. In addition, there is a greater focus on culture and engagement, delivering on-demand learning and helping departments share information to collaborate better.

  • Companies Focus on Employee Value Propositions

Because businesses are competing for smaller numbers of qualified candidates, companies need to communicate their top selling points for workers to work for them. A strong EVP represents pay, benefits, training, career development opportunities and other aspects that make a business attractive to workers and sets it apart from the competition.

  • Businesses Create Great Candidate Experiences

When candidates participate in a personalized and engaging recruitment process, they feel more connected with the company and are more likely to want to work there. Because a great candidate experience maintains open communication throughout the recruiting process, the candidate understands where they are and are less likely to decide to work for a competitor.

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Qualities to Look for When Hiring a Financial Analyst

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Bringing aboard a financial analyst requires much time and attention. You want a qualified candidate who can perform comprehensive evaluations of businesses, budgets and projects while working well individually and collaboratively. Here are six qualities to look for when hiring a financial analyst.

  • Professional Attitude

Because financial analysts need to cultivate trust in their team members, company and clients, they need to behave professionally and show they can manage any circumstances that arise. Analysts need to dress according to company code, be punctual and show up with the necessary information and materials. Analysts also need to monitor their choice of words, tone of voice, and manner of addressing colleagues, supervisors and clients. Furthermore, analysts need to remain consistent, as reliability in finance is key.

  • Leadership

Financial analysts need to model self-motivation, ambition and passion for their work. Analysts also need to manage projects, promote teamwork and resolve conflicts. They need to increase efficiency and productivity when working individually or with team members or clients. Furthermore, analysts need to be confident in making decisions based on potential consequences and risks.

  • Communication

Because financial analysts share information with diverse audiences who may lack a background in finance, analysts need to explain detailed information that co-workers, upper management, the board of directors and clients understand. Also, analysts need to clearly communicate to build trust and rapport.

  • Technology

Financial analysts use current technology to manipulate substantial amounts of data to make educated decisions. Analysts use tools in spreadsheets and databases to combine disparate data, solve problems and deliver presentations to management. They also need to know which modes of data representation managers prefer, such as graphs or financial tables. Therefore, analysts need to have experience using your company’s tools and platforms or be easily trained.

  • Analytical Skills

Financial analysts have to think logically and evaluate a broad range of information from your company’s financial statements. Analysts need to accurately assess a situation, understand how it works and what it means, and create an intelligent response. Therefore, you want to ask how the candidate’s analytical skills impacted previous projects and deals.

  • Problem-Solving Skills

Financial analysts need to look at a problem from every angle to determine the best solution. For example, if an analyst needs to value investments their company wants to make, they have to conduct an analysis and calculate the risk to determine whether the company should make the investment. Pose a scenario requiring the candidate to assess risk and potential gain for the company. You’ll be able to determine how well the candidate thinks on their feet and makes wise choices under pressure.

 

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Why You Should Always Be Giving Employees Feedback

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Providing employee feedback is vital to improving work performance. Setting clear expectations and letting employees know whether they’re meeting them helps employees achieve company goals. Here are five reasons you should be giving employees feedback.

  • Improve Performance

When employees understand what objectives they’re trying to reach, which actions benefit the company and which have an adverse impact, they have a clearer idea of the best way to complete their work. When employees see how their efforts contribute to reaching company goals, they feel more invested in moving the organization forward.

  • Increase Motivation

Motivated employees perform better because they know they’re highly valued and respected members of your team. Also, because motivated employees know their contributions are appreciated, they’re more inclined to share their ideas for helping your company grow. Motivated employees remain more engaged in their tasks and loyal to your company longer.

  • Continue Professional Development

Providing employee feedback encourages ongoing professional development. When your employees continually invest their time in learning opportunities, they add to their skill sets and become even more valuable assets to your company. As your employees gain additional knowledge and experience through learning and feedback, they move up to increased leadership roles and further participate in strategic planning. Your employees continue developing and improving products, services, relationships and more so your company continues expanding. You gain a competitive advantage by remaining a leader in your industry.

  • Encourage Innovation

In order for your company to thrive, it needs to evolve according to customers’ wants and needs and the demands of the industry you’re in. Providing employee feedback includes sharing business goals and asking for input on achieving your objectives. Employees enjoy being creative when solving problems and bringing your company to new levels.

  • Decrease Costs

Because employees understand which behaviors are helping the company and which are hindering it, they can correct their course as needed to improve their output. This reduces the need to let employees go for being unproductive and lowers the amount of money spent on recruiting and training new employees.

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Four Ways to Spot a Bad Candidate Who Has a Great Resume

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Although a candidate may submit a top-notch resume, there may be less substance than what appears to on paper. Therefore, pay close attention during the interview to determine whether a candidate is all they seem to be. Here are four ways to spot a bad candidate with a great resume.

  • Talking About Only Him-/Herself

When you ask about the candidate’s career goals, they don’t mention the name of a successful person they admire. When you ask the candidate about how their previous work experience led them to where they are now, they don’t mention receiving help from a colleague, boss, client, or anyone else.

  • Taking Credit for Everything Positive

The candidate may mention collaborating with team members, but they take all the credit for achieving desired outcomes. Also, the candidate most likely claims others’ ideas as their own and talks as though any success is the result of only the candidate’s hard work.

  • Not Discussing Weaknesses

The candidate lacks insight into or accountability for their actions. When you ask about a bad decision they made during their career, they don’t acknowledge any wrongdoing or admit their actions resulted in adverse outcomes. Also, they can’t explain how they learned from their mistakes because they won’t admit to making any. Because the candidate lacks self-awareness, they’ll continue making the same or bigger mistakes rather than learning from their experience and correcting their behavior.

  • Acting Unprofessionally

The candidate may be late for the interview and fail to notify or apologize to the hiring manager. They may know nothing about your company or what the position entails because they didn’t perform their research prior to the interview. In addition, the candidate may answer a question in an inappropriate manner, such as speaking negatively about a previous employer or fail to display polite, mature, composed actions before, during, or after the interview.

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Why Employee Recognition Matters

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Every employee enjoys being recognized for their contributions. When employees feel appreciated for their hard work, they remain engaged in their tasks, continue producing at top levels, and invest more time in moving the company forward. Here are six reasons why employee recognition matters.

  • Positive Work Environment

Employees who believe their ideas and efforts are appreciated feel happier about coming to work and contributing to the organization. As a result, employees are more fully engaged in their work, better collaborate on projects, and increase the cohesiveness of company culture. 

  • Reinforced Behaviors

Leaders can point out the actions, approaches, and accomplishments that most benefit the company so employees know which behaviors to repeat and which to modify. Therefore, employee recognition is a powerful form of constructive feedback.

  • Personal Connections

When leaders and co-workers acknowledge an employee’s contributions to the company, the employee feels valued, appreciated, and respected. As a result, the employee builds rapport with leaders and co-workers. Building rapport helps create stronger work relationships. Because of those relationships, the employee becomes more involved in the organization and wants to continue helping the company move forward.

  • Greater Work Contributions

Employees work hard on cultivating their skills and experience to add more value to the company. As a result, recognition from leaders and co-workers shows appreciation and respect for employees’ efforts. Employees then feel motivated to work harder and provide even greater value to the organization.

  • Increased Employee Retention

The more an employee feels appreciated for their contributions, the more fulfilled they feel in their job. Employees stay more engaged in their work and remain loyal to the company. The longer an employee is retained, the less the company spends on hiring, training, and retention costs.

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Ways to Assess Candidates for Cultural Fit

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Interviewing for cultural fit is an important part of the hiring process. Candidates who blend well with company culture are more productive and help move the organization forward. Here are six ways to assess job candidates for cultural fit.

  • What Are Your Expectations and Interests in Working Here?

Discover whether the candidate wants to join the company for appropriate reasons. For example, determine whether the candidate possesses the skills and experience for working with a company at its developmental stage. Also, uncover whether the candidate effectively handles ambiguity. In addition, find out whether the candidate can quickly make decisions with limited resources.

  • What Motivates You to Come to Work Daily?

Find out whether the candidate has a substantial amount of energy and curiosity. The candidate will want to learn new things and help out however they can. An energetic and curious candidate knows learning is a daily process and wants to stay informed about the company and the industry. The candidate will also play a significant part in identifying and capitalizing on trends to help the company grow.

  • What Are You Passionate About?

Uncover whether the candidate’s passions align with the company’s mission and values. When the candidate has a personal connection to the organization’s purpose, the candidate will be motivated to efficiently and effectively complete their work and find ways to achieve company goals.

  • Which Person Most Inspires You and Why?

Determine who a candidate’s role models are and what makes them stand out. The candidate’s answer will provide insight into the role models they use for their behavioral patterns and how the candidate may respond to a work situation.

  • How Does Your Reliance on Others Help Improve Your Performance?

Discover how much self-awareness the candidate possesses. For example, notice whether they state that they don’t know everything and are aware of their strengths and weaknesses. Also, see how transparent the candidate is when discussing what they learned from their successes and failures. In addition, determine how much the candidate enjoys individual and collaborative contributions to projects.

  • How Quickly Do You Adapt to Change?

Because the business world is constantly evolving, the candidate needs to quickly adapt to change. Whether change involves a new office, rapidly growing staff or a wider set of work responsibilities, the candidate has to effectively incorporate change into their daily life and evolve at the same pace as the organization.

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These are six ways to assess candidates for cultural fit. For assistance with securing top industry professionals, contact WinCorp Solutions.

The Importance of Employee Motivation

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Employee motivation plays a substantial role in a company’s success. When employees feel motivated, they perform at higher levels and work harder to move the company forward. Here are five reasons why employee motivation is important:

  • Positive Work Environment

Motivated employees help create a positive work environment. They smile more, respectfully interact with each other, and find ways to add additional value to the organization. Employees also support each other when expressing their ideas, collaborate better, and provide a more cohesive company culture. As a result, other top professionals are attracted to the company.

  • Productivity

A motivated workforce is more productive. Employees remain engaged in their work and perform at higher levels. Employees also handle uncertainty more easily, solve problems more effectively and are more creatively innovate. Therefore, leaders need to understand what motivates each employee to perform their best so that they can create strategies to complete projects and increase the bottom line. Key motivation programs may include monetary incentives, recognition and rewards, and programs that support a work-life balance. Also, leaders need to ensure each employee is performing the work the’re best suited for so they remain productive throughout the day.

  • Efficiency

Employees who are motivated display increased efficiency. In addition to possessing the appropriate skills and experience, employees need to be able to complete the tasks they’re given and need to desire to perform their work. When they have the right balance of those elements, employees will efficiently fulfill their responsibilities while lowering operational costs.

  • Goal Achievement

When employees feel motivated, they want to work harder at achieving company goals. Therefore, leaders need to provide the proper resources for completing each project, ensure each employee understands their role, and encourage collaboration among teammates. Leaders also need to answer questions, help resolve issues, and provide constructive feedback on each employee’s performance.

  • Loyalty

Motivated employees remain loyal to a company longer. They understand their role in helping the organization grow, put their best effort into completing their tasks and want to see the company succeed. Loyal employees contribute to a stable workforce, which saves time and expenses related to hiring, training, and retaining workers.

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These are five reasons why employee motivation is important. For help with securing top industry professionals, contact WinCorp Solutions today.

Encourage Employee Growth and Development

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Investing time and money in employee development is important to a company. Employees who focus on developing their knowledge, skills and experience help the organization move forward. Here are six ways to encourage employee growth and development:

  • Provide Resources

Ensure employees have a variety of resources to enhance professional development. For example, maintain a database of professional seminars or conferences employees can attend, classes they can take or organizations they can participate in. Employees will stay current on industry news and trends as they develop. Consider providing tuition/expense reimbursement for these professional activities/memberships. Also, provide as many online, on-demand learning opportunities as possible to accommodate employees’ schedules. In addition, offer coaching and mentoring programs for employees to increase their knowledge base and skill set, develop as leaders and help your company remain competitive. Furthermore, ensure different learning options cater to employees’ different learning styles for maximum results.

  • Develop Specific Skills

Encourage employees to focus on specific skills that need enhancement. For example, employees may take a class to develop their writing skills or participate in a local Toastmasters club to enhance their public speaking skills. Employees who pursue professional growth will increase their level of contributions to the company, perform better in teams and help the organization stay competitive.

  • Implement Cross-Training

Let employees cross-train in departments that interest them. For example, provide a lunch and learn or job shadowing program where employees can learn about job requirements in different departments and decide whether they may be interested in filling a different position or collaborating with different departments. Being able to take on different roles within the organization will result in a better understanding of company operations and potentially uncover ways to save time and money by streamlining systems. Employees may also remain loyal to the company longer because they’re staying engaged in their tasks.

  • Promote Networking

Encourage employees to constantly be networking. Developing relationships with industry professionals helps employees gain new insights, skills and perspectives to excel in their roles. Networking also increases employees’ visibility and builds their reputation as being knowledgeable and supportive. In addition, employees learn industry developments, best practices and ways to handle common challenges. Furthermore, networking helps employees contribute more and help the company move forward.

  • Encourage Regular Feedback

Ensure managers and employees provide each other with regular feedback to ensure their work is adequately challenging and their needs are being met. Managers and employees can also ask and answer questions, discuss problems and find solutions. In addition, managers can praise employees for achieving desired results and discuss ways they can work on areas that need improvement.

  • Lead by Example

Ensure all managers and executives lead by example. When staff see higher-level employees actively engaged in professional growth and development, staff are more likely to participate as well. Because workers crave transparency from leaders, workers typically are more willing to engage in behaviors that leaders request of them when they see those behaviors being modeled. This helps build a trusting, collaborative culture within an organization.

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These are six ways to encourage employee growth and development. For assistance with finding top industry professionals, contact WinCorp Solutions today.