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Tag: Job Satisfaction


Blended Learning for Executives

Educational leadership can benefit significantly from blended learning by both formal education programs and virtual training. Bringing these two facets to key leaders can prove to be valuable in the development of building relationships, innovative thinking, and employee engagement within the organization.

The paradigm where everyone learns differently could be addressed by offering the opportunity for blended learning, as some excel from in-person institutions and others with webinars or virtual classrooms; bringing both options could provide a foundation that can be embedded in the workplace. Once critical leadership competencies are formed, these new behavioral skillsets can help bridge organizational gaps by building informal connections, fulfilling company goals, and guiding shared visions across all functions.

The combination of individually driven virtual learning and formal educational programs offers executive leadership the tools to provide a better overall workplace atmosphere.

Competitive Retention Strategies: Mortgage Division

New market, new demand!

Ask yourself, what are we doing as a company to retain our talent within our mortgage division?

The mortgage industry is in high demand of employees, as mortgage rates continue to remain under 3%. Due to the urgency of hiring candidates with mortgage operations experience, employers are seeking mortgage leaders to join their organization.  Quality talent is being swept away by other mortgage companies by virtue of monetary base compensation and incentives.

As an organization facing some of these challenges, employers are being creative on compensation structures to incentivize workers.  Incentives offered are hiring bonuses, retention tools tied to compensation, with the ability to work remotely.

If your company is facing the same challenges, reflect on your incentive strategy and retention tools needed to be competitive in a demanding mortgage rate environment.

Retention Strategies for Executive Hires!

Securing quality talent within your organization should include an internal strategic plan. Retention plans for top credit union Executives comprise of competitive salaries, targeted performance incentive goals and retention bonuses, stock options, paid time off, and ancillary allowances and benefits.

Robust, targeted performance incentive plans are successful when implemented at the offer stage/onboarding process, and even more lucrative when these plans align with industry standard. Specifically, quarterly, semi-annual, and annual performance incentives are beneficial at the Executive level and should be established to incorporate non-financial metrics and financial metrics. Non-financial metrics might include engaged members, member survey results, staff turnover ratios. Financial metrics may encompass loan growth and earnings, return on assets, capital ratio, membership growth, net income, and board evaluations (if applicable).

Once you establish the targeted goals, each metric should be broken out to a percentage of the final goal. Non-financial metrics could be 10% of the total bonus, while financial metrics are 90%, it depends on the organization’s focus to meet the needs of its employees and business strategy. Evaluating your Executive Compensation plans should be assessed annually to ensure they are in-line with the industry standard to achieve employee engagement and retention.

Chasing the Money or the Opportunity

Should you chase the money or the opportunity? Well first, ask yourself, ‘Is it the right fit?’ Organizations may pay well, but if they have a high turnover rate and don’t fulfill your career goals, it may be in your best interest to really think it through.

This is an internal dilemma that many people go through. Of course, you shouldn’t undervalue yourself monetarily should a job prospect check all your career boxes, but don’t let an opportunity slip away that could benefit your long-term career development. Success can be subjective, and how it is measured and valued differs from person to person.

Some companies do entice candidates with short-term monetary goals, which can burn out employees quickly, causing high turnover within an organization. It may not be in your best interest to weigh opportunities based on compensation alone; career advancement, skill development, and passion should be considered. Chasing short-term benefits could prove unfruitful in the long-run, and you may not want to look back and wish you would’ve done things differently.

Creating a Recruitment Talent Campaign

 

When trying to attract top talent, the vacant position must stand out amongst the clutter of other eligible opportunities. Establishing a talent recruitment campaign allows both employers and employees to actively align goals and interests in a cultivating way.

Setting clear and measurable goals can be a great start when creating any recruitment campaign. Asking questions like “How many people do we want this to reach?” or “By what margin do we want to increase our overall audience?” allows for quantifiable marks to be set and evaluated throughout the process. When objectives and the end goal is understood, it determines the success built before and achieved after recruitment.

Determining the audience should be the second part of the campaign. It is important to develop a unique communicative platform through company culture videos, social media promotions, evaluating and reviewing glass door reviews and provide community-related blog posts. This will allow prospective candidates to evaluate the value proposition of the company and be the center of any talent recruitment practice.

While those platforms should exhibit the culture, they should also integrate a call to action. A call to action clearly separates the recruiting pool from those that are curious and those that are serious. It should be visible on all facets of communication with potential employees and should be direct and explanatory – providing further insight or action to those that interact.

Talent campaigns are meant to be unique to the position or organization. While every business may be using the same platform to get their message across, influencing those platforms to align with the goals that were initially established will provide recruits with an understanding of what the company has to offer and how they will be part of the success, and significant contributions to the future of the organization.

Employees, when is it time to walk away? Employers, do you see the signs?

At any moment in your life, knowing when to walk away is difficult. Whether it be a professional opportunity or current career path, recognizing the signs of when to continue on is not always apparent.

From both an employer and employee perspective, the understanding of betterment for the future may be clouded by current situations. Once employees begin to recognize a needed change, their production is also affected tasking employers to take notice and recognize the same signs.

A lack of passion is a key indicator that it is time to move on. While it is completely normal to feel a lack of purpose occasionally, a continuation of that feeling shows a sure sign that the current position is not right. This demeanor is noticeable by both employees and employers as it affects task outcome and workplace morale.

Recognizing an inability to advance professionally signals a time to move on. As an employer, the potential of all employees should be top of mind and, if an individual has reached their full efficacy, it is important to allow them to continue toward maximum growth and encourage forward progression. On the contrast, as an employee, if the main focus is continued advancement and that is no longer possible, recognizing how talents can be utilized elsewhere within the company will prove to be more beneficial in the long run.

If there is not significant growth being seen, other opportunities should be considered. Employees should continuously bring amelioration to their department and the organization. Whether it be through workplace culture, task production or leadership, an employee should positively impact and strengthen the workplace. Conversely, an organization should do the same for its employees by supporting their needs, encouraging their progress and compensating accordingly. If a position or workplace growth is stunted, it may be time to walk away.

Employee Company Reviews – how important are they?

Employee reviews can reveal a lot about an organization. Do you know what your employee reviews say about your company?

Sites such as Glassdoor and Indeed provide direct employee feedback about companies which can either make or break the recruitment process. Scouting for talent, in most cases, has a direct connection to how a company is perceived by its employees. So, how can organizations stay on top of these reviews and use them to their advantage?

Turn the critical reviews into opportunity! It is best to dedicate the needed time to monitor your online brand and use this feedback to make a difference in the company’s culture. Knowing the honest, and sometimes, painful truth about how employees discern their time within the business can help strengthen the structure of the workplace.

The idea of transparency should not be something to shy away from either. Knowing the ins and outs of a certain position or department and the impression it holds both internally and externally, will give managers the ability to identify weaknesses, be pragmatic and fill in the gaps recognized by employees.

Transitioning to the C-Suite

The ascension to the C-Suite is often paired with redesigned goals and ideas to ensure success in the new role. Fostering a successful transition can bring challenges as aligning others around those specific objectives is not always an easy feat.

To combat these common struggles, it is best to establish a shared vision on company priorities. Aligning the organization to understand and believe in the strategic design of the organization is a critical component to build success when executives are promoted or have accepted  a senior role. By creating an environment where employees buy-in to the vision of the company, executives will work to establish an immediate and long-term impact in the foundation of the organization.

Accepting that the answers are not always clear, and can be a significant learning curve during any transition. Making quick and calculated moves to establish a trustworthy team allows for any executive to begin to influence others with designed support.

Taking all of this into account, nothing can be done without the thought and preparation of self-readiness. By designating the appropriate amount of time to a purposeful tenure, ascending into the C-Suite will be complimented with proven results.

Turning Over a New Leaf on Employee Turnover

The connotations associated with “employee turnover” are often negative. From lost costs to disruption in an organization, employee turnover does have significant risks that test the strength of a company and its structure.

What is often overlooked is the benefit that employee turnover may bring to the organization.

Zappos, an online shoe and clothing store, has been widely praised for its mindset surrounding employee satisfaction. In 2015, the company began offering its employees exit payments, an incentive given to those who were interested in the company but decided it was not a right fit for them. This incentive lead to approximately 14% of employees accepting the offer.

While some turnover is encouraged, the importance of organizational agility is two-fold. The ability for employees to manage their employment satisfaction translates into greater success, for those who stay with the company have a mindset committed to the company’s growth and future.  Wiith the possibility of sporadic, unplanned position vacancies, positioning the business model to react and absorb any negative repercussions takes time, commitment and understanding.

It is crucial to create a culture that recognizes employee turnover is not always negative but rather something that can offer a positive shift in skills, mindsets, and motivations for the workforce, ultimately lending to the success of an agile and proactive company.

Mastering performance reviews

Performance reviews – a historically dreaded time in the office. Understanding how to take advantage of the review process and what personal and organizational improvements can be made will help both managers and employees alike to develop as an employee and contribute more to the company.

Meetings between manager and employee allows for the construction of individualized plans geared toward success. Not only do these conversations open a clear line of communication and transparency but they align company and employee goals and strategy. Setting goals that are smart, measurable, attainable, realistic, and timely (S.M.A.R.T.) allows employees to prioritize their work in the coming months based on personal and company goals.

And while performance reviews provide managers and employees the chance to speak openly about position performance, no review should come as a surprise. Employees should be aware of their strengths and weaknesses beforehand allowing the time allotted for a performance review to be focused on goals to improve or further success. The categories that are being evaluated must be clearly outlined to establish a clear line of expectations.

After the performance review, managers should take the time to review their notes that were taken during the meeting. Rather than stuffing the file into a folder and storing until the next performance review comes up, taking the time to map out a timeline of the milestones that the employee must hit to be considered successful is important to continue departmental success. This practice will not only provide managers the ability to map out their expectations, but it will also provide an insight into practices within the office that may require more focus.

One-on-one reviews are great to establish relationships between managers and employees; however, creating a system that allows the department to anonymously submit general feedback and personal role evaluation allows the opportunity for staff to identify micro-level needs regarding professional development.