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How HR Drives Profit: Engagement and Performance Management
HRIn today’s macro-economic climate, most companies are running lean, being extra cautious of their bottom line. Unfortunately, HR departments are often seen as a cost center. However, the reality is that HR processes are a critical component in the financial performance of an organization. It is time to embrace this department’s role as a key business driver. A great place to start is by designing processes that build high performance—with the singular most critical piece being an engaged workforce.
Give Employees a Reason to Be Inspired!
Employee engagement is the cornerstone of a productive and profitable business. When employees feel valued, motivated, and connected to their work, they are more likely to put in the extra effort, innovate, and stay committed to the company. Here’s how you can foster a culture of engagement and drive your business forward.
Find Your Talent Philosophy
A critical—and often overlooked—first step toward improving employee engagement is your talent philosophy. At its most fundamental, a talent philosophy defines the performance values needed to achieve business objectives. This philosophy acts as a guiding light for all HR processes, ensuring that they are aligned with the overall goals of the company.
Key Questions to Define Your Talent Philosophy:
What does good versus excellent performance look like?
– Clearly distinguish between satisfactory performance and exceptional achievements. This helps set clear expectations for employees and motivates them to strive for excellence.
Does your organization value only the outcomes or how the work was accomplished as well?
– Consider both the results and the behaviors that lead to those results. This holistic approach ensures that the company values teamwork, integrity, and ethical conduct alongside achieving targets.
What does talent advancement look like?
– Determine whether promotions and career advancements are based on business needs, employee readiness, or a predetermined schedule. This clarity helps employees understand what they need to do to move forward in their careers.
Once defined, your talent philosophy must be communicated to employees. Transparency around performance metrics is critical. Employees should never be surprised by what standards they’re being held to or what’s necessary for them to advance in their careers. Regular communication and feedback help reinforce these standards and keep employees engaged.
Design Your Performance Management Process
Once you have established the central tenets of your talent philosophy, the next step is designing a performance management process. If performance reviews are seen as “HR busy work,” it’s a good indication that your process is broken. While these reviews do take time to complete, they’re one of the most important things managers can do for their teams. Here’s how to make them meaningful:
Align with Talent Philosophy:
The performance review process needs to align with, and be an accurate reflection of, your company’s talent philosophy. For example, if a company values both what an employee achieves and how they achieve it, then both should be assessed in the process.
Incorporate 360-Degree Feedback:
The impact of poor management can ripple throughout an organization. According to Custom Insight research, poor relationships between employees and their managers are a leading cause of disengagement. This is why 360 feedback is worthwhile. When managers receive upward feedback from their team members, they gain vital insight into the employee experience. Taking that time to understand and invest in the dynamics of the worker-manager relationship can drive better financial outcomes for the company.
Regular Check-ins:
Instead of waiting for annual reviews, implement regular check-ins between managers and employees. These ongoing conversations help address issues in real-time, provide continuous feedback, and keep employees aligned with their goals.
Build Your Talent Development Framework
Once the talent philosophy and performance review process are established, talent development will be your next focus. It’s not enough to provide feedback on strengths and opportunities during the review process alone. Organizations need to invest in the continuous employee development steps that come after.
Establish a Support Framework:
Create a comprehensive support framework that clarifies expectations, competencies needed to get to the next level, areas of development, and tactical plans to improve them. This framework should be integrated into the daily workflow and not just an annual exercise.
Include Career Ambitions:
Whatever tool or framework you implement should include a section on short- and long-term career ambitions. This is both an investment in your employees and a good first step toward succession planning and improving talent density.
Provide Learning Opportunities:
Offer various learning and development opportunities such as workshops, online courses, mentorship programs, and cross-functional projects. Encouraging employees to continually develop their skills shows that you are invested in their future, which in turn boosts engagement and loyalty.
Succession Planning: Preparing for the Future
Succession planning may feel like something only large companies need to worry about, but a universal truth in today’s labor market is that very few people spend their entire career at one company anymore. A conservative estimate of the cost of turnover is up to two times an employee’s salary. In addition to that cost, turnover impacts morale, culture, and institutional knowledge, to name a few.
Key Steps for Effective Succession Planning:
Properly done, succession planning can make changes less disruptive, improve employee engagement, and decrease the cost of hiring.
Employee Engagement Is Your Key to Profitability
In today’s climate, businesses need to be careful about where they’re investing, and employees are the critical differentiator. Investing in employees through performance management, development, and succession planning can help you future-proof your organization. Creating better leaders leads to better employee engagement, which in turn leads to better financial outcomes. HR programs like these are key business drivers that can help pave the way for a better financial future.
By focusing on these strategic HR processes, you can transform your HR department from a perceived cost center to a vital driver of business success. Engage your employees, manage performance effectively, and develop your talent to unlock the full potential of your workforce and drive profitability.
Uninterrupted Pay, Unwavering Trust
Managed PayrollLife is full of surprises, and not all of them are pleasant. When unexpected challenges arise, the last thing your employees should worry about is their paychecks. That’s where Mosaic Consulting Group’s Emergency Payroll service steps in, ensuring uninterrupted compensation during critical moments. Let’s dive into why this service is a game-changer for safeguarding your workforce.
The Need for Emergency Payroll
Uninterrupted Compensation:
Picture this: a sudden crisis hits—whether it’s a natural disaster or an unforeseen event. During such times, your employees shouldn’t have to stress about their paychecks. Mosaic’s Emergency Payroll service guarantees seamless payroll processing, allowing your team to focus on their safety and well-being without financial concerns.
Employee Trust and Loyalty:
Timely and consistent compensation builds trust and loyalty among employees. By prioritizing their financial security during emergencies, you show your commitment to their welfare. This strengthens the employer-employee relationship and boosts morale, creating a resilient and loyal workforce.
Compliance and Accuracy:
Handling payroll regulations can be a headache, especially under pressure. Mosaic’s team of experts ensures compliance with all relevant laws and regulations, minimizing errors and reducing risks associated with non-compliance. We handle the nitty-gritty, so you don’t have to.
Peace of Mind:
Knowing that Mosaic is managing your emergency payroll provides peace of mind for both employers and employees. Business leaders can focus on tackling challenges head-on, while employees rest easy knowing their compensation is secure.
Why Choose Mosaic Consulting Group?
Expertise and Support:
Our dedicated team of payroll professionals offers guidance and support tailored to your needs, ensuring smooth payroll processing during emergencies. We’re here to help, every step of the way.
Timeliness and Accuracy:
With advanced technology at our disposal, Mosaic guarantees timely and accurate payroll processing, even in high-pressure situations. We ensure your employees get paid on time, every time.
Customized Solutions:
Whether you need extra support for your existing payroll team or comprehensive payroll services, Mosaic provides customized solutions to suit your requirements. We’re flexible and ready to adapt to your unique needs.
Why Emergency Payroll Matters
Disruptions can happen at any moment in the business world. Whether it’s a sudden crisis, a natural disaster, or any unforeseen event, your employees rely on their paychecks. That’s where our specialized Emergency Payroll service comes in, offering you peace of mind when you need it most.
What We Bring to the Table
Guidance:
For those with their own payroll team but in need of a helping hand, we offer expert supervision and guidance to ensure your team processes payroll smoothly during challenging times.
Basic Payroll:
No dedicated payroll team? No problem! Provide us with the necessary data, and we’ll take care of the rest. We’ll process the information and generate comprehensive reports for your approval.
Just Pay People:
When timekeeping systems are down, we step in to ensure your employees get paid. Using data from previous periods, we replicate payroll for the current one. You stay in the loop, approving any changes before finalization.
Ready to Ride the Wave of Emergency Payroll?
With Mosaic Consulting Group by your side, you’re never alone in navigating uncertain waters. Our dedicated payroll experts, cutting-edge technology, and unwavering commitment to efficiency ensure your employees receive their due compensation, no matter the challenges you face.
So, when the unexpected happens, don’t sweat it. Let Mosaic be your lifeline, allowing you to focus on overcoming hurdles while safeguarding the financial stability and trust of your invaluable workforce.
Explore more here!
Life’s full of twists and turns, but with Mosaic, payroll stability remains constant!
Are Interviews Pointless? It All Depends on How They’re Structured
HRInterviews are a cornerstone of the hiring process, yet their effectiveness often falls short due to poor planning and execution. Many interviewers lack proper training, leading to inconsistent and biased evaluations that do little to identify the best candidates. However, structured interviews can significantly improve the predictive accuracy of hiring decisions.
The Power of Structured Interviews
Structured interviews stand out as the most effective method for predicting job performance. Research consistently ranks them as the top hiring practice in terms of predictive power. But to harness their full potential, structured interviews require careful design and disciplined execution.
3 Key Strategies for Effective Structured Interviews
Convincing hiring managers and interviewers to adopt structured interviews can be challenging, as it demands more effort and discipline compared to unstructured, extemporaneous interviews. However, the benefits far outweigh the initial investment of time and effort. Here are three essential strategies to build effective structured interviews:
1. Standardize Questions for Consistency
All candidates for a given position should be asked the same set of predetermined questions. These questions should be tailored to assess the most important competencies and skills required for the job. By standardizing questions, you create a level playing field that allows for an apples-to-apples comparison of candidates. Diverging from a set list can lead to inconsistent evaluations, making it difficult to accurately determine the top candidates.
2. Focus on Specific Experiences
Effective interviewers ask candidates to describe past experiences where they applied relevant skills and competencies. Hypothetical or multiple-choice questions do not provide the same depth of insight. Instead, ask candidates to describe specific situations, the actions they took, and the outcomes of those actions. For example, you might ask, “Tell me about the most difficult and complex project you ever planned and executed in a prior job, at school, or in another aspect of your life.” Follow-up questions should be used to delve deeper into the candidate’s experiences and the complexities they faced.
3. Create a Uniform Evaluation Process
Ideally, multiple interviewers should evaluate candidates using standardized criteria and then reach a group consensus to finalize scores. While this approach may not be feasible for every position, it is highly recommended for critical and senior-level roles. Consistent evaluation criteria and collaborative decision-making help mitigate individual biases and provide a more comprehensive assessment of each candidate.
The Potential Role of AI in Interviews
Generative artificial intelligence holds promise for enhancing structured interviews. AI can assist in creating targeted questions and suggest follow-up questions in real-time. It can also help with evaluating and scoring candidate responses. However, the use of AI in hiring must be approached cautiously due to potential biases and concerns about the lack of a human touch.
Research indicates that two-thirds of adults would be hesitant to apply for a job if AI were making the hiring decisions. Candidates fear that AI might overlook the human element, make errors, and have design flaws. Therefore, any AI application in the hiring process should prioritize fairness and transparency to ensure a positive candidate experience.
Conclusion
Not all interviews are created equal. Unstructured, free-form interviews offer little value and can even be detrimental, while well-structured interviews provide a reliable means of identifying the best candidates for a job. By adopting best practices in structured interviewing, organizations can improve the accuracy and fairness of their hiring decisions, leading to a more effective and equitable workforce.
Incorporating these strategies into your interview process will help ensure that your hiring practices are robust, fair, and capable of identifying the top talent needed to drive your organization forward.
Establish Pay Equity to Keep Pace with Employee Care Expectations
HRThe Gap in Employee Perception
When it comes to the employee experience, employers and employees often don’t see eye to eye. Recent research highlights this disconnect: while 88% of U.S. employers believe they demonstrate care for their employees, only 60% of employees feel cared for. This perception gap underscores how closely the employee experience is tied to an employer’s ability to genuinely demonstrate care for their workforce.
Employers strive to create supportive and valued work environments through various programs, yet employees’ needs and expectations are continually evolving. Many employers fail to keep pace with these changes, particularly in the area of financial well-being. For instance, nearly 60% of full-time employees experience financial stress, which affects their work performance, sleep, mental and physical health, and relationships.
Pay Equity: A Vital Care Point
To truly demonstrate care and respect for employees, organizations must prioritize pay equity. Equitable compensation is fundamental to a positive employee experience and strong organizational performance. Research shows that pay disparities can lead to decreased collaboration, communication, and teamwork, as well as eroded trust in leadership. Conversely, pay equity enhances productivity, engagement, motivation, workforce cohesion, and diversity.
Despite its importance, only 41% of employees believe their employers have achieved pay equity, and 26% say their organizations have been completely unsuccessful in ensuring equal pay for equal work. Additionally, about half of employers lack a well-established pay equity plan.
Establishing Your Pay Equity Plan
To improve pay equity within your organization, consider the following steps:
Proactive employers are taking action on pay equity before legal mandates force their hand. This approach enhances talent attraction, retention, and trust while adding credibility to their claims of caring for employees.
Employee Care: Obligation or Opportunity?
MetLife’s research identifies critical moments in employees’ lives when they need the most care from their employers. These moments—such as purchasing a home, having a child, losing a loved one, or taking leave—can profoundly impact the employee experience. Employers that provide support during these times see higher levels of productivity, loyalty, engagement, and holistic health among employees.
However, many employers fall short in delivering care at these critical moments. Some rely on outdated programs, hoping they will meet new needs, while others use cookie-cutter approaches that don’t align with their employees’ unique needs. A lack of insights and communication also prevents employers from understanding their workforce’s needs.
Customizing Care Offerings
Providing effective care requires a clear understanding of employees’ specific needs and challenges, both at work and at home. This understanding allows employers to update and customize care offerings to maximize effectiveness and achieve solid returns on care investments. Surveying employees—formally and informally—is one of the best ways to gather insights into their diverse needs.
In addition to pay equity and financial health programs, employees now expect employers to offer holistic well-being solutions, greater work-life balance, access to ongoing learning and development programs, and meaningful work. These components are essential to workplace care, and employers must be willing to provide them.
Conclusion
Raising your organization’s level of care to meet employees’ expectations is not just an obligation; it’s an opportunity. By addressing pay equity and providing comprehensive care programs, employers can demonstrate respect and concern for their workers. This approach not only bridges the perception gap but also leads to robust business outcomes. At Mosaic, we believe that establishing pay equity is a critical step in keeping pace with employee care expectations and building a more engaged, motivated, and loyal workforce.
What HR Needs to Know About Generative AI
AI, HRSince Generative AI burst onto the scene, we’ve been deeply engaged in understanding its impact on our business, our people, and the wider HR industry. The rapid adoption of this technology necessitates that we, as HR professionals, and the broader business community, are well-prepared to embrace the changes it brings. Successfully navigating this change starts with having the right mindset.
Generative AI Means Efficiency, Not Layoffs
A common reaction among HR professionals to generative AI is fear—fear of the unknown, fear of job displacement, and fear of losing the human element in HR. While it’s natural to fear the unknown, we encourage HR and business leaders to adopt a growth mindset and see AI as a tool for enhancing efficiency rather than a cause for layoffs.
The first step is to demystify the stereotype that AI will lead to massive job losses. Leaders are more likely to focus on increasing employee productivity rather than reducing headcount when there are opportunities for cost savings. Most leaders aim to leverage technology to improve efficiency, especially in terms of time, our most valuable commodity. AI can handle mundane tasks like scheduling meetings, writing emails, submitting expense reports, and daily administration. Freeing up time from these tasks allows us to focus on team building, leadership, cross-functional collaboration, relationship building, mentoring, and creative problem-solving, which can drive business, team, and culture growth.
Tangible Focus Areas for HR and Business Leaders
Let’s discuss the tangible focus areas that HR and business leaders should prioritize in preparation for AI. These areas are not new; they are the core responsibilities of HR leaders, only now with an AI twist.
Leadership Development Preparation
Leaders and managers need to be ready for increased employee productivity. This means they must spend more time ensuring this productivity aligns with the business’s strategic direction. Managers will need to focus more on being role models, fostering trust, promoting diversity and inclusion, and creating a respectful, healthy, and safe environment to encourage collaboration and innovation. As AI frees up employees’ time, managers must guide them on using that time productively.
Fostering a Culture of Learning and Growth
The integration of AI will require employees to learn new skills. However, before jumping to skill acquisition, it’s essential to foster a culture of learning. At Mosaic, growth is our mantra, and we expect employees to take control of their development and reach their full potential. The focus isn’t on promotions or titles but on providing employees with the skills, knowledge, and tools to improve their craft. When employees are encouraged to develop their passions and enhance their skills, their careers become more than just vertical growth; they become purpose-driven engagements. This strategy works when employees move internally across different roles and business verticals.
Getting Comfortable with Change Management
People naturally resist change, even HR leaders trained to embrace and cultivate it. With the rapid growth of AI, change is inevitable, so we need to sharpen our change management skills. This includes improving communication, increasing transparency, and building trust within our organizations. These processes require time and human connection—something AI can never replace.
Empathy, Vulnerability, and Compassion
A guiding question for us as HR leaders is: how can we embrace and use AI to be more human in our roles? While AI can perform many tasks, it cannot replicate empathy, vulnerability, and compassion—qualities that define great managers and leaders. We should use AI to handle repetitive tasks, freeing us to engage more with our employees, understand their motivations, and support their development.
Conclusion
Generative AI offers incredible potential to enhance efficiency and productivity within our organizations. By embracing this technology with a growth mindset, focusing on leadership development, fostering a culture of learning, managing change effectively, and emphasizing human connection, we can leverage AI to improve our business and support our people better. At Mosaic, we believe that understanding and integrating AI into our HR practices will help us build a more dynamic, engaged, and innovative workforce. Let’s use AI to handle the mundane and free ourselves to focus on what truly matters—our people.
Crafting HR’s Wellness Strategies for Today’s Trends
HRIt’s no secret that the world of employee benefits is evolving faster than ever before. As HR leaders, we’re constantly faced with the challenge of staying ahead of the curve, especially when it comes to addressing hot-button topics in health and wellness. With emerging trends and shifting employee expectations, it’s crucial to approach benefits with a strategic mindset that prioritizes both employee well-being and organizational success.
Weighing The Value Of Emerging Wellness Programs
From mindfulness to women’s health to caregiver support, the landscape of wellness is vast and ever-changing. As HR leaders, it’s our job to evaluate the potential impact of these programs on our workforce and bottom line. While investing in holistic wellness initiatives is essential, it’s equally important to ensure that these programs deliver tangible benefits for both employees and employers. By carefully assessing the ROI and sustainability of new wellness trends, we can make informed decisions that drive positive outcomes for all stakeholders.
HR Is The Knowledge Center For Personalized Benefits
In today’s world, personalization is key. With the help of data analytics and AI, HR leaders have the opportunity to tailor benefits packages to meet the unique needs of each individual employee. By leveraging historical health data, demographic information, and personal preferences, we can create customized solutions that promote healthier lifestyles and improve overall well-being. Whether building internal tech solutions or partnering with third-party providers, HR has the power to revolutionize the way we deliver benefits to our workforce.
Adjustable Benefits Practices Are Key
In the realm of wellness, one size does not fit all. As HR leaders, it’s essential to offer flexible benefits options that accommodate the diverse needs of our employees. By providing a framework that supports sustainable healthy habits, we can empower individuals to take control of their well-being and thrive both personally and professionally. Whether through digital HR ecosystems or targeted communication strategies, we must continuously engage our workforce and promote a culture of wellness that extends beyond the office walls.
At the end of the day, investing in employee health and wellness isn’t just the right thing to do—it’s also smart business. By prioritizing personalized benefits, staying informed about emerging trends, and fostering a culture of well-being, HR leaders can position their organizations for long-term success in today’s ever-evolving landscape.
So, here’s to crafting benefits strategies that empower our employees, drive positive outcomes, and make a real difference in the lives of those we serve. Together, we can build a healthier, happier, and more resilient workforce for the future.