Spring is a good time for Performance Appraisals & Retaining People

Spring is a good time for Performance Appraisals & Retaining People

 

Performance Appraisals are like Flossing your Teeth!

One very powerful tool that can help to retain and engage your staff are performance appraisals. One of the biggest human needs is to be seen, heard and understood. Performance appraisals can be a time to do that, so often appraisals are not looked forward to but can be well worth the effort with loads of hidden benefits!

When we floss our teeth we do not enjoy the process much, it requires getting into some detail, dealing with hidden spots and challenges, yet the outcome can be more than just top line removal of plaque. Performance appraisals can set a good plan and path moving forward,build connection, clear out unspoken challenges, misconceptions and grievances that may have been held by employees. 

Good performance appraisals also allow a platform for strategic talent mapping. The number one driver now in an attractive workplace is psychological safety and a good perfomance appraisal can allow a safe place for employees to share with honesty and support.

 

Performance reviews should be like a DATE  

Defined and documented, have set expectations of what will be discussed, past and future performance, team environment, support required, what management needs to stop, start and continue doing.  Documented for clear review every six months.

Adventurous- prepared to face the truth, open, transparent and challenge the status quo.

Timely – the key to a great performance review is to keep them timely (best every six months as 12 months is too long to have to turn around and steer direction).

Encouraging – we all know that human beings respond best to a carrot rather than a stick. Recent studies show that the old “sandwich” feedback process is not always effective, as people become sceptical of the good feedback – feeling it is tokenism. Really listen and empathise with people.What are their personal aspirations? This will build connection and  a deeper understanding for managing and getting the best out of them. Show an interest in their whole life goals and how they can achieve them. Ask them if they have mentors and support to help them see their aspirations

One way to build connection and trust is to share insights around yourself and how you tackled a challenge, showing your own vulnerabilities, show them that you have walked that path as well. Building intimacy – “ Into you see me” By deeply listening you can grow and  stretch people beyond what they think they are capable of and new possibilities.

For more information contact Simone Allan, Director at Mondo Search on 1300 737 917 or email simone@mondosearch.com.au

Money Money Money…Salary negotiation tips to avoid resignations

 

Money, money, money… Salaries are a subject that we all want to know more about, yet rarely do we talk to anyone about how much money we earn. This is a subject that often we do not even discuss with our closest. As we draw to the year-end, people are feeling stretched and often instead of asking for a pay rise, people look for an alternative role. How do we address this?

When considering a salary offer you have to take into account the whole package offering, including the workplace benefits, as well as the company culture, the challenge of the job, the working options/location(WTF)
and the career path opportunities. Organizations also vary with pay parameters, whether the industry is high/low paying, whether the company is profitable or bootstrapped, and dependent upon the company philosophy (e.g. rewarding well or providing lower pay but extra lifestyle benefits).

Three instances where we negotiate salaries:

  1. Starting a role: This is often a vulnerable time as people seek the next step ahead. Make sure to list key strengths and capabilities that you bring to the position. UK Career Strategist John Lee stated that ‘when an employer extends a job offer to you, this is a critical moment’. Make the most of this honeymoon period, as any significant rise is unlikely for another 2-3 years. Employers need to make sure to include all salary package benefits to attract people aside from the base salary.
  2. Being reviewed: This can be after probation, a yearly performance review or a promotion. Make sure that you have a list of your achievements and contributions. Have what is discussed in writing with a commitment from both parties. Employers should make regular reviews to ensure staff feel valued and heard.
  3. When considering resigning: Research shows that 9/10 times, being counter-offered with a pay rise or a promotion is revoked, with a resignation, within 12 months. This is because people resign not over the money but over the other factors mentioned: company leadership/ culture, the challenge of the work, workplace benefits and career path options. If you know you are worth more with a competitor, then share your concerns with your employer privately. The only thing worse than a surprise resignation is an unwanted surprise resignation. Regular reviews will prevent surprise resignations. You may not be in a position to offer more money but you may be able to offer other benefits to support your treasured employees.

How to find what you’re worth? Here are some quick tips to help you on your way:

  • Review average salaries using PayScale; Salary.com; LinkedIn Salary, Career Bliss.com and Glassdoor.com
  • Ask an expert, (industry-specialized recruiters can help). Mondo Search has a sound knowledge of pay scales, as we have interviewed over 24,000 Executives.
  • Research the level of demand for your skills in relation to you and the job market. Seek has helpful information on this.
  • Believe in yourself.  If you’ve done your research and assessed your market value thoroughly, you’re in a stronger position to negotiate.

Use these tips when negotiating your salary:

  • Pick your time – make sure you book the time for the “ salary conversation”
  • Always be positive, note your contributions and achievements. Speak with gratitude and excitement about your future. Show them a plan to make a huge impact in the future – new business initiatives, ideas and ways to further improve, innovate or grow the business or help the organization.
  • Set a range by establishing your target salary and being clear about your absolute bottom line. Be upfront and smart about when you flex your expectations within that range.
  • Determine what other benefits are important to you, rank them by priority and value (such as extra annual leave, health benefits and flexible hours) and consider whether these are negotiable.
  • Listen to your gut as it can anticipate whether a decision is right or wrong for your future.
  • View negotiations as a joint-problem solving conversation.
  • Never burn bridges even if you (kindly) say no, as your career path could one day cross their own.
  • Believe in yourself:  If you’ve done your research and assessed your market value thoroughly, you will be confident to justify your expectations and be in a stronger position to negotiate when the time arrives to negotiate your salary. As an employer support your staff to share their wins and contributions. Try to create ways to reward these contributions, even if it is nonfinancial rewards, employees will feel heard, supported and will be less likely to resign.

For more information please contact info@mondosearch.com.au or 1300 797 917 and ask to speak to Simone, Carmela, or one of our consultants.

How to make a job sticky?

The cost of losing a good employee is a minimum of $23K and almost one years salary, if you hire and get it wrong. A study by AHRI* of more than 1,500 human resources professionals has revealed the cost to hire an employee has more than doubled over the last 12 months. The loss of IP, customer relationships, team morale, productivity, stakeholder engagement and time to reappoint and induct is enormous. The current creeping inflation, talent shortages as companies are also accelerating growth plans, post pandemic. Now more than ever it is critical to find ways to engage your employees.

Workplace motivators appear in many forms and ironically we like to use the acronym FORM to categorise workplace motivators:

F = Flexibility. Allowing staff to have flexibility outside of work commitments such as family, health, personal finance, cultural and or religious engagements is helpful. If an employee feels supported with time for outside activities, the employee will be more focused and committed when working on the job and will go the extra mile, with after hours meetings, when required.

O = Occupation is everything – think of career challenge tools to support the employee: mentors, career path opportunities, further career studies. Allow employees to feel supported, heard and mentally stimulated.

R = Respect. Build trust and engagement by listening, to ignite employee creativity, show appreciation, encourage input and don’t micromanage. Focus on facts and results, rather than the process. Publicly recognise employees on their achievements, celebrating birthdays; providing positive reinforcement.

M = Money is important, but not the only factor to engagement. Nowadays we are finding the first question about a role is “where are they located and are there working from home options? Remuneration is still important. People need to feel their time is rewarded accordingly. Your capacity to pay will depend upon your business cash-flow. Be creative with performance incentives, bonuses and rewards to motivate and attract talent.

When thinking about making jobs sticky, think about making good FORM in the job. Track employee productivity and identify who stands out, then invest in those employees by providing these aspects. Providing good FORM!

Employees want to know that you’re listening to their feedback. Use engagement tools such as TINYpulse, Culture Amp and Officevibe to survey how workers are performing and generally feeling. Then respond to your employee feedback in a timely fashion.

​* Australian Human Resource Institute 

Counter offers are counterfeit

Candidate reactions are varied and many companies have tried to retain the people by offering counter offers.

Our experience and research indicates that often counter offers from employers are vague attempts to keep the commitment and loyalty of staff. In fact, our surveys say that over 72% of staff who are counter offered by their employer leave within the next twelve months as the original reasons for leaving still exist. For example their salary may have increased but the culture, conditions and politics remain the same.

When staff announce their departure, often employers take it personally and make promises that the environment will improve and try to offer more money or greater salary benefits.

At Mondo Search we have observed a number of situations that occur after a counter offer has been made:

  • Staff generally will still leave within twelve months, after being counter offered, as staff generally choose to leave for other reasons, apart from salary and conditions.
  • Candidates currently at our interviews are generally not concerned about salary package, rather the type of company, the culture and the career opportunities.
  • Candidates will move sideways in title or position, if the culture, industry and or reputation of the company are held in high regard.
  • Candidates are now also more interested in the lifestyle factors around the role, including distance to work, the company’s attitude to working from home, paternity and maternity leave and opportunity for company shares and equity.
  • A lack of trust is embedded at the time of the counter offer, as people wonder why they have been offered better salary/conditions or job opportunity only after they have threatened to leave. Why was this only addressed after the moment that they decided to leave? Is the company lacking strategic initiative and are they purely short term thinkers and reactionary?

So as an employer, when considering offering a counter offer to a staff member, to try and keep them, consider that you are likely to be facing the same situation, within twelve months. Look at your current team, keep close to the ones that you want to keep on your team and they will be less tempted to make a career change. The grass is not always greener on the other side!

Once someone decides to leave they eventually will leave. So when considering a counter offer just remember that it may be very counter productive.

Reach out if you ever need help finding or keeping talent. Our mission is finding good people for good.

Contact us at simone@mondosearch.com.au

How to get a job straight out of graduation – DRREAM Big

 

A word to help you in your job search after school or university is DRREAM! Yes that is dream big and start big! Dream with an extra R for Really Amazing!

DRREAM is an acronym for smart steps to find a job:

D – Date and Don’t give up: you have to think of getting a job is like getting a date – prepare both physically and mentally – Don’t limit yourself. Say YES a lot – do your preparation.

R – Resume: write a succinct and powerful resume – 2 pages and include everything that you have ever volunteered for. Include all part time jobs, internships and awards. Have 1-3 referees, even a quote of who you are to them. Be meticulous with resume detail – headers with how to contact details. List milestones/ wins.

R – Research: research your passions and think of companies you are passionate about – we always thrive, if we do what we have an interest in. Research your trusted network – who do you like – what do they do? Ask them if you can do an internship? Keep an open mind – don’t limit yourself to certain types of jobs.

E – Early Work Experiences help: Young resumes stand out if they are loaded with work experiences and demonstrate tenacity – ie. internships, work experiences, volunteering, Duke of Edinburgh, Surf Life Saving etc.

A – Appropriate Dress: Wear what matches your market. If it is a conservative industry like professional services and banking – wear a suit. You are not being conformist – you are allowing yourself not to suffer unconscious biases and judgement, so people can make a decision on what you think and what you say, rather than what you wear.

M – Make Extra Effort and find a Mentor: Like a date – stand out from the rest – get online and research companies, start a blog on something you are passionate about, that may be related. Write an article and go the extra mile. Follow people who the company would be interested in. Find a mentor within your friends and family who you rate, who has led a good career and ask them to mentor you. They will get as much out of it as you. Studies now show that pheromones or happy hormones are released when someone helps another.

New Year, new ways to work! Opportunities 2023?

One of the best things about the New Financial year is that mid-year you can reset!

So now you are likely back from a mid-year break? Time to make 2023 powerful for you and your team. Finding and keeping talent is one of the top 10 challenges facing businesses today (Banking and Financial Review 2022).

Our surveys are not showing “the great resignation”, but in fact Australians are loyal to the company that supported them through the pandemic. Sea changes can still happen, as hybrid ways of working are now acceptable.

The biggest challenge that we are seeing today is staff motivation – with the challenge of managing staffing rosters, absenteesim and maximising full scale operations.

The cost of presenteeism and absenteeism in Australia in 2016 was $6.3 billion per year1 whereas now in 2022, this has risen to $32.5 Billion a year 2.

So what are ways to build a productive team in the New Financial Year?

Keep people focused on their immediate tasks.

Encourage people to focus on the present tasks at hand – show clear pathways forward and let your team focus on smart steps ahead. Regularly recognise the small steps! When people are “in the zone” anxiety reduces and creativity goes up, thus improving team motivation!

Let people feel supported and heard.

Encouraging all ideas and contributions from employees. Encourage “a yes culture”, embracing all ideas. For example at Amazon, if you say no to an idea you have to create a paper to explain why it won’t work.

Get to know your whole employee

Agree and share a few of their goals both within the workplace and at a personal level. Know their drivers – is it career challenge, a career pathway, workplace offerings and/or a good salary & incentive program to kick their financial goals?

Find them a mentor

Gallup Surveys show that employees are 83% more engaged if they feel someone in their company ” has their back”. Mentors can give unbiased support and inspiration, with no agendas.

Imagine your workplace where employees are energised and 5 times more productive?

So think about how you will recruit for the New Financial Year, “finding doers not moers!”

 

References
1 Safe Work Australia report
2 Bodycare Workplace Solutions 2022