Time for Mentoring

When Your Mentors and Mentees Don't Have Time for Mentoring

No one can put more hours in the day, but we can give you a few tips and strategies to make the most of the hours you – and your mentors and mentees – do have.

Tuesday, June 28, 2016

Assessing Your Organization's Career Development Culture

This could be your employee moving toward clear career development goals.
After the training and on-boarding conclude, when does your organization begin promoting its career development culture?[Tweet This]

Career development and your company’s culture are so intertwined that it is difficult to mention one without the other. Are new hires there for one job and one job only, or do they grow within the organization, advancing from position to position? Is your organization developing talent based on potential or simply acquiring high level talent to fit into a specific job structure? These are a few of the questions that should be addressed when establishing an organizations career development culture.

A 2015 study from the Brno Institute of Technology found these to be symptomatic of a successful company culture:

-to reduce conflicts in the firm
-to provide continuity, to mediate and facilitate coordination and control
-to reduce workers' uncertainty and to enhance their satisfaction and feeling of emotional well-being
-to provide incentives (i.e. serves as a source of motivation) and, if it is sufficient
-intensive and contextually relevant, it is a competitive advantage.


Are you where you’d like to be?

An effective company culture is apparent when new hires know what it is they are doing, and what will be expected of them further on down the line. The path of succession should be made apparent to them from the beginning to avoid latter confusion. Stakeholders from every level contribute to the career development culture. Happier employees are a typical result of a clear corporate vision and higher productivity is a profitable side effect for organizational leaders.

Develop talent or risk losing it.

While having an unclear career development culture won’t definitively hinder your organizations overall growth, it certainly won’t help. The benefits to laying out a yellow brick road for employees to follow to a larger role in the place they may spend over 40 hours a week are numerous. The disadvantages could also lead to uninterested and unvested employees who are already looking ahead to the next opportunity that will hopefully challenge and cause them to grow. As enthusiasm and interest atrophy, so production and profits. And investment in talent development by way of a clear career development culture could save your organization in more ways than one.


Friday, June 17, 2016

Corporate Branding and Alumni Programs.


Just like that ex that won’t call you back, corporate alumni contribute to the overall perception of your brand. The importance of alumni to the branding of an organization can’t be understated. Potential employees will sooner listen to their friends and associates before they believe a jobs board. Satisfied or dissatisfied, engaging alumni can go a long way toward sculpting public perception.

One method of cataloging all of those former employees is by starting an alumni program.

By simply starting a program, an organization is taking a step toward brand management. Each member of the portal should then be considered a key piece in your company’s branding strategy. By electing to support a corporate program aimed at keeping contact with alumni, Organizations show that they care about their former, current and prospective employees. This can lead to a swell in qualified applicants as an organization becomes known for how much it values and supports its employees of all phases.

Every year since 1997, Fortune ranks the best companies to work for. One-third of its evaluation process is based on responses to what they call a “Culture Audit”, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communication, training, recognition programs, and diversity efforts. The implications that an alumni network can have on that type of ranking are obvious. An organizations effort to improve their human resource capability can be translated into a metric that quantifies how happy people are to come to work.


More specifically, an alumni network can help former employees decide how much they enjoyed coming to work. Hopefully, they’ll tell somebody about it. 

Monday, June 13, 2016

Why employees leave

A high turnover rate can be an obstacle for a corporation in many ways. It is costly to train new hires, and it can disrupt the workflow. How does an organization go about holding onto the good employees?

In most cases you may think the salary would be the main issue, but it stems farther down than that. It might surprise you to learn that pay isn’t the number one reason employees jump ship.  Issues such as career development, exhaustion and troubles with management are a few for starters.

Seventy percent of workers don't feel engaged at work, according to a Gallup poll[Tweet This ]. This sort of dissatisfaction can lead to a high turnover rate and less productivity.

Here is some insight on why employees turn in their badges and seek employment elsewhere.

Career Advancement- Managers can overlook an employee’s talent that they capitalize on, or sometimes they use it too much. Rewards and advances can be given to employees that don’t deserve it. The biggest slap in the face to a hard working employee is lack of recognition. To avoid this, managers should regularly recognize good work and reward it by considering an increase in salary, a higher title, or a simple “good job” email. A little recognition where can go a long way.

Overworking – It’s easy for a manager to spot an employee that is great at what they do, and even easier to use that talent to the organizations benefit. Sometimes this does not work out in the employees favor. The easiest way to burn out a good employee is overworking. Managers shouldn't shoot themselves in the foot by exhausting their hardest working employee. In time they will be less productive, and less satisfied with their employment.

Inadequate Management – Often employees don’t leave a job - they leave a manager[Tweet This]. We have all worked with the manager that sits in the back, basking in their managerial glory while his or her employees are delegated all the tasks. This does not go unseen and can build up a sense of resentment for the manager. Remember to lead by example.

One key to success is to make an employee want to work for you.  If you treat an employee the way they deserve to be treated, they will only serve you and your organization better. This can lead to increased longevity with the company and overall happier employees. For more information on workplaces practices and retention, check out Insala today.

Tuesday, June 7, 2016

Out of sight but not out of mind.

Like an R&B song on repeat, organizations are not forgetting about their exes that easily. Many corporations are finding themselves looking into their little black books at what could have been, wondering what will be. The rise of Corporate Alumni Networks is providing a new use for those old contact sheets of employees past.

Retired not useless
As corporations begin to acknowledge their alumni as dormant resources, retirees become more valuable resources. A 2009 article from Emerald Insight, a research magazine, detailed  how the use of retirees as a resource can boost productivity.

“Companies can use alumni networks to learn who these working retirees are and what they still know – some technical knowledge, after all, can be lost if not used regularly. When a company identifies a knowledge gap, it can then offer a contract to a retiree to either handle the problem directly or participate in an in-house knowledge transfer activity,” Sergio Koc-Menard wrote in his article titled “Knowledge transfer after retirement: the role of corporate alumni networks.”

Retirees may not always want to work, but they could know the “lost” knowledge a company seeks. Maintaining a friendly relationship could be helpful to an organization in the future. Now that the importance of these alumni is becoming more apparent, the article said organizations around the world are reclaiming Intellectual Property lost in transition.

Gone But Not Forgotten.

The usefulness of retirees also extends over to general alumni who are still active in the workforce. The benefit of keeping up relations with alumni is three fold: business development, recruitment and brand awareness. According to an exploratory thesis article published last year on the subject, this is referred to as the Alumni Value Triad. Companies not looking to expand their reach, fill in knowledge gaps, find fresh talent, develop possible business avenues and have a legion of brand ambassadors need not look into alumni networks. Those interested in mining their alumni networks for talent should start building immediately for organizational benefits.

Thursday, June 2, 2016

How mobile are your HR functions?

The year is 2016 and anything that can’t be accessed in the palm of one’s hand is considered inconvenient.[Tweet This] The times have changed and organizations are taking note.


ADP, a leading payroll services provider, released a report on the ongoing trend of data mobility; that is having access to data wherever and whenever. More and more employees are tracking schedules, pay dates and benefits through mobile applications as the global use and ownership of smartphones continue to proliferate.


What’s your current functionality?
Gauge your organization’s use of mobile platforms by what can be accomplished from a four-inch screen. Being able to look at payroll statements and benefits is one positive. But can your organization be doing more, in terms of data availability, to attract top talent now and in the future? ADP’s report said that Generation C (those born after 1997) will be the most plugged in candidates the world has seen, having grown up in the most digital era to date. Take a look at what data employees have available to them at a moment’s notice. Adopting more digital alternatives can save cost and time on both ends. Even if your organization is checking all of the requisite boxes (Payroll, Benefits, scheduling), there is more to offer employees in today’s workplace.

How does your mobile HR function compare to your competition?
So you’ve found that your organization has the basics covered, what now? Now is the time to look into advanced HR functions. According to ADP’s report, Generation C will not see HR mobility as an innovation but rather an expectation. Corporate alumni networks, mentoring programs and career counseling are the next steps in HR mobility innovation. Personalized mobile networks within a company structure provide a digital framework of reference for employees to access on the go. This isn’t about reinventing the wheel; it’s about switching out the gears. Much like millennials are swiping left and right on each other, they want to be able to swipe, tap and scroll through the rest of their lives. What advantage does an organization gain from fighting the wave, rather than riding it?

Tuesday, May 31, 2016

Career Development trends in the Financial Services sector

            When talking about trends in career development, it is important to talk about the use of corporate mentoring programs.

Mentoring has a myriad of organizational benefits: It can assist in knowledge transfer, career transition, longer employment, well-trained associates and an increase in good relationships among employees. Recently we have seen an uptick in mentoring for career development in the financial services sector of the business world. Proper mentoring can take an entry-level financial services employee from the ground floor to an executive position- it only takes time.
           
The financial services sector functions a little differently than, perhaps the sales industry does. The world of finance is in constant flux, serving as a call to action that coerces corporations to keep up with the times to remain competitive. Oftentimes, executive positions are held onto within the organization for long periods of time. This makes it difficult for the person who is a candidate for an executive position when they feel their time has come.

This is where we come in.

Financial services organizations often turn to Insala to help unroll a mentoring program. Our Career Development solutions help to groom the next candidate to be prepared and take the reigns when necessary without missing a beat. A mentor in an upper to middle management role can mentor an associate to ensure that when their time comes, they will be prepared and able to fulfill what is expected of them.
            


            

Thursday, May 26, 2016

Mentoring for New Hires in the Financial Services Sector


A key part of talent development is mentoring.[Tweet This]In addition to evaluating the initial talent of a new hire, companies in the Financial Services (FS) sector benefit greatly from pairing new talent with a seasoned veteran to help them acclimate to their environment and achieve their performance and development goals. A mentor can provide an employee with a roadmap of the pitfalls and advantages of the industry, relative to the mentee’s position in the company.


The results of establishing a structured approach to introducing new hires to a company are quantifiable and cannot be overlooked. Onboarding doesn’t end once the new hire learns their company login and payroll information. A 2014 survey by Bamboo HR found that 1 in 3 respondents left a job in the first six months. As new hires are actively weighing the pros and cons of staying, organizations must be involved in the transition process and assisting them in achieving their goals.


Of those who reported leaving 27 percent of them said it was due to the work assignments being different than what was pitched to them in the interview. A mentor can clear any sort of ambiguity surrounding the new hire’s job duties, acting as a hub of Frequently Asked Questions instead of a minder.


The 2015 Talent Acquisition Factbook found that companies spend an average $4000 on filing a job opening. With traceable results like that, the cost of assigning a mentor eventually pays for itself. In the same year Aberdeen reported that companies with employee engagement programs made 26 percent more in year-to year earnings revenue. It should go without saying that mentors hold the dual purpose of keeping new hires engaged and focused on the larger tasks at hand. The time for companies to invest in talent development through mentoring is now, unless they believe they can afford not to.