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CREATING A WINNING COMPANY CULTURE
Welcome
BEFORE WE GET STARTED
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Type questions into Chat box on the bottom of the ReadyTalk widget
Q&A will be at the end of the presentation
RUSTY L INDQUISTVP of HCM Strategy, IP and Product Marketing at BambooHR
JANEL LAOSenior HR Manager at Jobvite
Economic Landscape
HR today sits smack-dab in the middle of the most compelling competitive
battlegroundin business, where companies deploy and fight over that most valuable of resources
—workforce talent.
Matthew D. BreitfelderHBR: “Why did we ever go into HR”
“This is a war for talent” Steven Hankin
McKinsey & Company
Series1
Unemployed
4.7%May, 2016
EMPLOYED!
95.3%
Talent Deficit
Among the jobs that 39-44 year olds began, one third ended in less than
a year– Forbes
v1yr
Cost of replacing an employee is between 90% - 200% of their annual
salary.– SHRM
v90-200%
91% of Millennials expect to stay with your company fewer than three
years. – Future Workplace
v91%
Average tenure for Millennials is 2 years (5 years for Gen X and Gen Y)
– Payscale
v43%v2yrs
Shrinking Tenure
Increased Competition
HUMAN CAPITALis quickly becoming
the only sustainable
sourceof competitive
advantage.
@rustylindquist
–Bersin by Deloitte
– Ram Charan Best-selling Author & Business Advisor
Evolution of HR
BusinessValue
H
L
Strategic
Micro Small Mid Large
Operational
HR viewed as a cost centerTransactional HR
High-Impact HRHR as a strategic investment
©Rusty Lindquist | © BambooHR
Following a national survey of job seekers and HR professionals, 43% said that “cultural fit” was the single most important determining factor when making a new hire.
-Millennial Branding & Beyond.com
Culture First
Culture Drives Employment Brand: Source: Liz Pellet, Fellow, Johns Hopkins University
What “is” culture?
The story we tell ourselves, and each other, about where
we work.
Own the conversation
Every day you wake up and choosewho you’re going to be that day.
The person you choose most often,becomes your legacy.
@rustylindquist
1Ingredients of
Culture
v
HOW
OUTSIDE-IN (CONVENTIONAL) INSIDE-OUT (REMARKABLE)
WHYValuesMissionBeliefs
Culture
HR ActivitiesEmployee Perception Candidate Perception
WHAT
CULTURE AND RECRUITING
Advertise the job and company in the right space to target the
candidate profile you are seeking
Assess for culture fit, then the job
Over a third of job seekers with a college
education value company culture
Use social media to research the company culture of organizations they are interested in
59%
Of job seekers say that employee
referrals helped them find their most
fulfilling job
1/4
Of job seekers say interviews make the
biggest impact in your impression of a job
47%
• Customers matter most• Collaborate openly and honestly
to build trusting relationships• Always pursue a better way• Perform and your professions
peak• Be humble, optimistic and joyful
JOBVITE VALUES
CULTURE AND ENGAGEMENT / PERFORMANCE
Beliefs Not BehaviorsBeliefs
Results Behaviors
We tend to move towardour most dominant
thought processMaxwell MaltsPsycho Cybernetics
@rustylindquist
If you create a great place to work,
great work will take place.
“The Relationship between corporateculture and performance”- Wall Street Journal
We found thatculture causes performance,not vice versa
“How Company Culture Shapes Motivation”Harvard Business Review
Why we work, determineshow well we work
Corporate Culture and PerformanceJohn Kotter
Strong corporate cultures
are associated withstrong financial results
The Law of Inertia
We tend to be carried forward in life by the inertia of our past. (So make the
present count)
@rustylindquist
CULTURE AND RETENTION
WHY EMPLOYEES STAY
Of employees stay because they enjoy
the work they do
67% 56%
Of employees stay because they feel connected to the
organization
Of employees stay because of their
coworkers
51% 40%
Of employees stay because of their
manager
WHY EMPLOYEES LEAVE
Of employees leave because they don’t
like their bosses
31%
CULTURE AND COMP
Compensation:
The story of how much you are valued
Compensation
Keystone of Culture
Comp is an exchange of value,
not money
Value Exchange
Experience in industryExperience in market vertical
Experience in adjacent markets
Experience in field of disciplineExperience in adjacent disciplines
Experience with competitorsProduct knowledge
Competitor knowledge
Time and experience in companyEducation
Discipline training and certificationSupply and demand
Employer Value Drivers
Employee Value Drivers
Base payPerformance Pay
Paid time offBenefits
TravelCulture and environment
Work flexibilityWork/Life balance
Meaningful workWho you work with
Challenging workOpportunity to impactJob security
Shared purpose / missionCareer advancement opportunities
Autonomy
Senior leadership
CULTURE AND EMPLOYMENT BRAND
Of job seekers consider an
employer’s brand before even
applying for a job
75%
Taking pride in the company brand is
critical for employee engagement
Of job seekers use companies’ career
websites as their most important source of information online.
74%
People need to believe and feel confident in
your product and brand
TIPS FOR BUILDING AND PROTECTING CULTURE
Take risks and be vulnerable. Allow
yourself to be innovative
Cultural Undercurrents
People are infectious, so when hiring, ask
yourself how will they infect your organization,
for good or bad.
@rustylindquist
Signal to Noise Ratio
HR needs to be less optimized around processes, policies, and procedures, and more around people, productivity,
and performance.
@rustylindquist
Respect your employees’ personal
lives
Stories are the mortar by which reality is built, and life’s true architects are those who tell
the strongest stories.
@rustylindquist
Educate all employees on how they contribute to the success of the
company
@rustylindquist
HR needs to build storytelling as a core competency if it ever
wants to truly increase its influence
TIPS FOR MEASURING CULTURE
• Employee survey• What do others
say?• Glassdoor reviews• Length of retention• Feedback from exit
interviews
HUMAN CAPITALis quickly becoming the only sustainable source
of competitive advantage.
@rustylindquist
Q&A
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