Why You Must Be Concerned for Employee’ Financial Wellness from Recruitment and Selection Process

Why You Must Be Concerned for Employee’ Financial Wellness from Recruitment and Selection Process

Become an Employee Magnet by Proper Channeling of Total Value for Employees

Proper communication total compensation packages and benefits is necessary to keep the employees morale. Off course, it’s not possible to offer raise all the time, but letting them understand financial security offered can present you as employee. In the modern time the war for talent is at full fledge and a little mistake can gamble your best manpower asset. Of worse, the risk of turnover is always there, so you must put best efforts to let employees understand why you are a good place to work.

Dynamic work environment, employee-friendly work culture, value-added services and facilities can boost employer’s value on the top of payroll benefits.

Value Added Services to Increase Financial Security

From health insurance to dependent care benefits, there are many things that you do without increasing on paper salaries. More upon it, the priority services to access financial counselor can help employees save more. Many times, people don’t even know how start investing for future and this kind of guidance can actually clear their doubts. Hiring a licensed professional for the same and offering services at reduced cost or free is a worth to try shot.

Make Them Feel Free From Financial Worries from The Recruitment And Selection Step

Money is the prime reason for causing stress among employees. When they are in stress, they can’t provide best performances. Hence, it is clear that to make them work for you in the best shape of mind and body, as an employer you need to free them from financial worries. Financial distractions need to be sidelined properly to increase productivity of employees. Furthermore, financial guidance is the most likely offering that millennial generation tends to look in employers of GenX.

Well being of employees is only possible when they are cheerful to work and it is not all about giving them a good raise. Truly, the total compensation is the prime factor for accepting a job offer most of the time. However, additional facilities of food, cab, job security, insurance and healthcare are also important point. Just make sure employees get proper understanding of their total benefits package from the recruitment and selection phase.

GlobalHunt Takeaway

Everyone loves to feel they are valued. This feeling of ‘taken care’ has natural power to establish ling term connections. Similarly, in professional world if as an employer you are successful to make them employees feel valued, you are automatically entitled to gain loyal employees.  Financial security and benefits are prime concerns for employees. By taking care of these basics you can retain staff and reduce employee turnover naturally. Critically, you must work on transmitting your concerns for employee financial wellness timely and properly from the initial phase of recruitment and selection.

Why The Company Must Invest In Outplacement Services?

Why The Company Must Invest In Outplacement Services

Employees are an important part of the organization. They are the most valued part of the organization as they represent the organization and are responsible for the profit-earning motive of the company. There may be circumstances where the employee has to voluntarily or involuntarily leave the organization. Outplacement services can be defined as the support service that organizations provide to their employees who are leaving the organization (either voluntarily or involuntarily), in order to help them find a new suitable job for them in the market.

If you want to know more about why you must invest in outplacement services than have a look at this following points.

  • Maintain healthy relationships- One of the major reasons why companies must hire outplacement services is it helps them maintain a healthy relationship with their employees. You can’t deny the fact that displaced workers have contributed to your organization’s profit at one point of time. Such services help you maintain a positive relationship with the displaced employees. Providing them with job opportunities, after they have left your organization proves that you care about the future and career of your employees.
  • Reduce unemployment- Another important benefit of such services is helps reduce unemployment. Outplacement services provide the candidates with multiple services like career management and resume assistance which helps them get a new job. Most importantly, helping the employees get a job as soon as they lose one helps in decreasing unemployment.
  • Increased productivity among current employees- Such services also increases the dedication of employees. You have to communicate to them that if business gets tough than you are there to help. This shows your dedication towards your employees. When the employees are aware of your support, they will automatically increase their productivity level in order to show appreciation to you and your organization.
  • Enhances brand value- Brand value is extremely important these days. Having such kind of services will help in enhancing your reputation in the market. This will not only help you build yourself in the market but will also attract numerous clients and investors who will readily do business with you and your company. Another very important advantage is it is will help you attract qualified and experienced candidates who will readily work with your organization.

Now that you are aware of the various reasons you must invest in outplacement services, opt for it and add more to the profit-earning motive of your company.

5 Things You Need To Know Prior To Hiring Your First Employees

5 Things you need to know prior to hiring your first employees

Recruitment and Selection is an essential part of every organization. Every organization has certain rules and regulations related to hiring. One must select the employees carefully because it is the employees who add to the benefit of the company. Another very important aspect about an organization is the employees must be under a good leader and only then they will be able to perform properly.

The following points will give you a brief idea about the things you need to follow while hiring your first employee.

  • Cost- One of the first things that you must consider while hiring your first employee is the cost. Now when we are talking about cost, we don’t mean only the salary of the employee. There are numerous other things related to cost that you must take into account like security benefits. It is very important to evaluate the cost of the extra benefits also while hiring a candidate.
  • Legal requirements- Prior to hiring an employee you also need to know certain rules which you can or cannot do as an employee. You need to know the proper rules regarding overtime stipulation, minimum hour, wage requirements and many more things.
  • Finding applicants- While hiring an employee, you are obviously going to make sure that you are hiring the best. Finding a good candidate is quiet a challenge. There are many job seekers who apply for a post without even reading the job requirements. Post the job requirement on the various online job portals and shortlist candidates mainly on the basis of their past experiences, skills and educational qualifications.
  • Interviewing- The interview round is very important as it helps you understand the candidate and it helps the candidate understand you. Your first employee will help a lot in determining how your workplace culture will look like. So you must try to figure out his skills, strengths, weaknesses, and work ethics in the interview itself. The interview round will also help you determine how much the candidate will be able to benefit your organization.
  • Training- Training is as important as hiring. Your first employee will represent your organization and therefore you need to train him properly according to your needs. The right training will help your organization grow more.

Now, that you know about the things that you must do while hiring your first employee, follow them and it will definitely add to the profit earning motive of your company.

Outplacement Services Becoming A Key Area Of Investment For Businesses

Outplacement Services Becoming A Key Area Of Investment For BusinessesThe global corporate sector has become very dynamic in nature in current times. Industry and market trends vary frequently which results in certain immediate business remodeling in terms of operations and workforce. In certain cases, in order to cut down unwanted costs or to terminate certain business wing, a part of the workforce is laid off to support the company. But it is a very strategic yet difficult decision to take for the management. In certain cases it has been observed that employees who have been associated with the company for a pretty long time has been terminated due to certain business requirement. Outplacement services forms a vital tool for handling such scenarios. It refers to the assistance provided to the terminated employees in terms of career transition by counseling professionals. It has many benefits as mentioned below.

  • From a company perspective, it primarily helps in protecting the brand image in the market. Sudden layoffs send out a negative message in terms of financial health as well as reputation. Outplacement services prevent such notions from spreading.
  • The company which is currently cutting down on workforce due to some reason may need recruitment after some time. Such services help in creating assurance for the new candidates.
  • Some people have the tendency to jump the ship in case of slightest doubts regarding the company’s standpoint. Existing employees can be reassured through this service in order to minimize the panic scenario created due to the layoffs.
  • Lastly, it helps in minimizing the lawsuit from the employee end. It has to be kept in mind that the layoffs in such cases are not due to productivity issues but as a result of business need. Hence, outplacement services help in reducing such situations.

However with all these benefits, there are certain pointers that need to be followed while implementing such service.

  • Initially a thorough strategic research should be done by doing preliminary discussions with a few service providers in order to understand what would best suit the purpose of the company. The planning should be done accordingly.
  • Getting the word out to the employees is the next big step towards the situation. The information structure should include the layoff message along with the service introduction and its possible benefits.
  • The duration and the communication channel should be planned beforehand regarding the sessions and the services to be provided by the third party.
  • The information regarding the firm which will provide the service to the employee should be communicated clearly along with the date on which they can interact with the firm.

Mass layoffs due to business needs are one of the toughest scenarios to handle. It becomes more complicated with people who have been associated with the company for a long time and have grown a sense of brand loyalty. With outplacement services, this scenario can be effectively handled while securing the brand image in the long run.

Six Ways To Be A Good Leader

Six Ways To Be A Good Leader

Recruitment and Selection is an essential part of every organization. Every organization has certain rules and regulations related to hiring. One must select the employees carefully because it is the employees who add to the profit earning motive of the company.Another very important aspect about an organization is the employees must be under a good leader and only then they will be able to perform properly.

You can have a look at the following points to get a brief idea about the ways one can be a good leader.

  • Acceptance of limitations- It is not possible for a person to know everything and there might be things that a leader might not know. It is always good to be humble and modest. One should always accept the fact honestly that one doesn’t know something for it is not possible for a person to know everything. While working the leader must be open to suggestions from his subordinates. This will not only make him a good leader but also good co workers. In this way he will also be able to gain the trust of his team.
  • Open to learning- The leader must be open to learning new things. Humility always makes a person a good leader. He must have a willingness to learn from his employees and peers.
  • Communication- Effective communication is also very important to maintain transparency and accountability among the employees. A good leader communicates clearly with his subordinates and makes them aware of the various laws, needs and targets set by the company from time to time. On the other hand, they report to employers about the performances of the employees and their achievements from time to time. Good communication skills make a leader approachable among the employees.
  • Teamwork is very important- One of the best ways to be a good leader is teamwork. It is very important to closely communicate and work with the team to ensure the targets are achieved on time. Having good team helps one achieve the goals set by the company faster.
  • Value criticism- To grow as a leader one needs to value criticism. It will make you aware on how you can improve yourself as a leader.
  • Be a good observer- Another very important thing that you have to have to be a good leader is you need to be a good observer. You need to see and listen to things carefully within your organization. This will not only give you a better insight about the employees but will also help you understand if the organization is functioning properly or not.

Now that you know about the ways you can become a good leader, try and improve on your skills in order to motivate the employees.

A Fundamental Activity For Organizational Growth

A Fundamental Activity For Organizational GrowthA successful leadership is what drives a business in to its path of success. A strong leader is required at the management level of very business in order to align the productivity in terms of client delivery, bringing in new opportunities, foreseeing the potential market and industry threats and guiding the organization in times of crisis. But hiring the management people does not end the process. Preparing the next line of individuals or the similar positions is also very important for companies. That is the reason when outplacement service agencies are now providing middle management hiring services also. Middle management hiring refers to the recruitment of candidates who have the ability to develop themselves as leaders and take up various managerial positions within an organization. There are certain strategies which have been adopted by companies in recent times towards leadership development.

  • The companies are now focusing on leadership skill development from day one. Candidates are hired under middle management quota for imparting training right from the start of work. This step allows analyzing the growth potential of the individual as well as provides ample time for leadership quality development.
  • It is an established fact that not every individual needs to go through the similar knowledge processes for being potential leaders. Some of them have inbuilt abilities for understanding the market trends and future shocks. Hence, there should be platforms to analyze such abilities and encourage individuals along the knowledge sessions that will enhance the abilities of the same.
  • The attitude towards the employment and job role is crucial for any recruitment. When an organization goes for hiring a potential leader, the professionalism and attitude is of key importance. The competency training can be done on the job.
  • Mediocrity is one of major threats to leadership positions. In many cases, the next in line scenario come in to play while setting up the management. The professional abilities and organizational priorities should be the primary deciding factors in this case.
  • Just because a person is a good manager does not essentially establish the fact that he or she can be a good leader. It is essential to remember that team management is way different from company management. It involves understanding and formulating strategies according to market and industry scenarios.
  • Lastly, leaders are not born, they are made. This means that an individual should be supported and mentored properly for the future management responsibilities. Even after they acquire the position, constant support is crucial for the success.

Hence these are the modern leadership development strategies implemented by businesses to create future leaders.

HR Department And Its Role

HR Department And Its Role

Today’s workforce is a mix of young, vibrant people and old generation. Therefore, it is the responsibility of an HR to recognize the work culture of the company and accordingly balance the business operations.  HR department manages the Outplacement services in a perfect way so that they can balance the senior, mid and junior level in a company.

  1. HR should be a part of senior managers to make the good strategy, which will become a solid plan from the conference room to the final marketplace.
  2. HR department should remain organized in the matter of work. They should execute, deliver administrative excellence to reduce the cost but maintaining the quality at its level.
  3. HR people should become the spokesperson of the employees to bring their concern to the management level. Even, they help to increase the contribution of the employees to deliver the best result.
  4. HR department also helps in the improvement of the work culture to enable the organization to take down the capacity of change in the business.

Therefore, HR department is a watchdog of the entire system and the employers should organize themselves as per the standard to survive in the market. It will actually help the HR department to act as a bridge between the employees and organization.  Hence, it is important for an HR department to manage the work level and keep the balance well in mixing the culture.