Corporations spend millions of dollars on employee engagement programs and enriching development programs in an attempt to increase their productivity yield. However, some tried-and-tested techniques can immensely boost your employees' morale, enhancing their performance and productivity without you having to shell any pennies. There are some things that money can't buy, and if you analyze closely, you'll realize loyalty cannot be influenced by a salary hike or benefits and perks. These can retain your skilled employees for a longer duration and enchant them, but, they have a momentary charm, and the dazzle wears off eventually. If you look at the statistics, employees are more likely to continue if their superiors motivate and appreciate them. Of course, this is based on the premise that they are adequately compensated and that their pay scale is in the range corresponding to market values.

Seasoned HR personnel and intelligent leaders know of this one simple hack that is absolutely free of cost – motivational quotes. As simple as this may sound, quotes can be a powerful ally to appreciate, motivate, and evoke positive emotions from your employees. Inspiring quotes can set the tone for the day and create a mindset that can help trigger desired results. Some powerful quotes are as effective as caffeine; they get the adrenaline pumping. It is essential to note that high energy levels can be contagious in a way. And when the entire team is collectively motivated, there's no stopping them from achieving set targets. Employees who stay motivated collectively focus on the outcome. The team's success and achievements are as vital as their own. They build each other, which results in a more secure outcome. So, nobody gets left behind. Individual members prosper along with the team. It's a win-win.

So, if you aren’t already using this tool, maybe it's time you seriously consider this strategy. We've compiled a few quotes to inspire and motivate your staff to reach their optimum potential.

1. Believe you can, and you're halfway there.- Theodore Roosevelt

2. Some people want it to happen, some wish it would happen, others make it happen.- Michael Jordan

3. Goodness and hard work are rewarded with respect. – Luther Campbell

4. Either you run the day, or the day runs you. – Jim Rohn

5. All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work.- Calvin Coolidge

6. No great achiever, even those who made it seem easy, ever succeeded without hard work. – Jonathan Sacks

7. No one can whistle a symphony. It takes a whole orchestra to play it.- H.E. Luccock

8. Happiness is the real sense of fulfillment that comes from hard work. –Joseph Barbara

9. Well done, is better than well said – Benjamin Franklin

10. Excellence is not a skill. It is an attitude. – Ralph Martson

11. The secret of getting ahead is getting started. – Mark Twain

12. I'm a great believer in luck, and I find the harder I work, the more I have of it. – Thomas Jefferson

13. The difference between ordinary and extraordinary is that little extra. – Jimmy Johnson

14. We are what we repeatedly do. Excellence then is not an act but a habit. - Aristotle

15. You can’t let your failures define you. You have to let your failures teach you. – Barack Obama

16. Life is about making an impact, not making an income. – Kevin Kruse

17. Tough times never last, but tough people do. – Robert Schuller

18. Talent wins games, but teamwork wins a championship. – Michael Jordan

19. Nothing is impossible; the word itself says, I'm possible! – Audrey Hepburn

20. Don’t wish it were easier. Wish you were better. – Jim Rohn

21. If two men on the same job agree all the time, one is useless. If they disagree all the time, both are useless. – Darryl Zanuck

22. It’s hard to beat a person who never gives up. – Babe Ruth

23. Predicting rain doesn’t count. Building arks does. – Warren Buffet

24. You can’t build a reputation on what you’re going to do. – Henry Ford

25. The only thing that overcomes hard luck is hard work.- Harry Golden

26. Nobody’s a natural. You work hard to get good and then work to get better. It’s hard to stay on top. – Paul Coffey

27. You can’t use up creativity. The more you use, the more you have. – Maya Angelou

28. Intelligence without ambition is a bird without wings. – Salvador Dali

29. Everything you’ve ever wanted is on the other side of fear. – George Addai

30. Do something today that your future self will thank you for – Unknown/Debated

31. If you light a lamp for someone else, it will also brighten your path. – Gautam Buddha

32. There are no secrets to success. It is the result of preparation, hard work, and learning from failure.- Colin Powell

Also Read: 10 Types of Employees and How to Motivate them!

33. Talent means nothing, while experience, acquired in humility and hard work, means everything.- Patrick Suskind

34. Opportunity is missed by most people because it is dressed in overalls and looks like work. – Thomas Edison

35. Don't judge each day by the harvest you reap but by the seeds you plant. – Robert Stevenson

36. All our dreams can come true if we dare to pursue them. – Walt Disney

37. Some people dream of success, while others wake up every morning and make them happen. –Wayne Huizenga

38. You were hired because you met expectations. You will be promoted if you can exceed them. – Saji I

39. Hard work without talent is a shame, but talent without hard work is a tragedy. – Robert Hall

40. The expert in anything was once a beginner.- Helen Hayes

41. Goodness and hard work are rewarded with respect.- Luther Campbell

42. Becoming is better than being.- Carol Dweck

43. A clay pot sitting in the sun will always be a clay pot. It has to go through the white heat of the furnace to become porcelain. – Mildred Striven

44. The only way to achieve the impossible is to believe it is possible. – Charles Kingsleigh

45. Luck is a matter of preparation meeting opportunity. – Lucius Seneca

46. Always deliver more than expected. – Larry Page

47. Quality means doing it right when no one is looking. – Henry Ford

48. Be undeniably good. No marketing effort or social media buzzword can be a substitute for that. – Anthony Volodkin

49. Outstanding people have one thing in common, an absolute sense of mission. – Zig Ziglar

50. Fun is the most underutilized tool in business today. – Barbara Corcoran

The gains an organization can realize from regularly motivating its employees are tremendous. It would be foolish not to utilize such a powerful tool, especially when it isn’t a cost-to-the-company. Exela HR Solutions provides end-to-end HR solutions and customized plans to help businesses acquire, maintain, and develop their talent. Exela is a market leader in Business Process Automation and is well equipped with apt soft skills that can motivate your entire workforce. Find out more about what Exela HR Solutions can do for your business today.

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

Remember that irksome feeling when people don't pronounce your name rightly? It can be annoying when people address you wrongly, correct? That's because you associate your name with your identity. But, even when someone refers to us indirectly or as part of a group, the pronoun they choose to identify us with matters significantly. If you haven't thought about matching appropriate pronouns against the right individuals, you've probably been insensitive and hurt some people unknowingly and in all likelihood, it is possible that people haven't reacted furiously to your innocent oblivion. While their response is a matter of choice, that's the receiver's or the respondent's prerogative. It's just like how you may choose to ignore it when someone verbally abuses you. Your reaction may be docile, but the act itself is still highly offensive. And if such occurrences repeat too often, the person at the receiving end may begin to feel alienated, excluded, or even targeted.

That is why you must be careful with gender identity and their respective pronouns. You may be unable to determine a person's gender from mere appearances. The world is a complex knit of interwoven diversity. It is this uniqueness of each individual that contributes to the overall welfare of any given unit, be it a team, an organization, a state, or even a continent. Everyone cannot dress, speak, and behave in a standard way. Each one is unique, and it is every human being's right to choose how they wish to live. People have a right to choose, and all should be respectful of their neighbors’ choices. Repeatedly addressing anyone by the wrong pronoun implies your insistence upon conformity, which violates their fundamental rights as human beings.

All human beings are born free and equal in dignity and rights. - Article 1, Universal Declaration of Human Rights

But some professionals are still unaware that their pronoun choices may be offensive as they may not represent someone outside of the binary (male and female) appropriately. Thus, it is sapient to begin introductory conversations by also stating your pronoun, especially if you are cisgender. A cisgender person is one who continues to identify themselves with the gender they were assigned at birth. This way, you can lead by example and indirectly encourage the remainder of your crowd to mention their name and pronouns irrespective of gender. By doing so, you establish a safe and welcoming environment. Furthermore, proactively disclosing your pronoun communicates that you promote a work culture where gender is not automatically assumed, and binary gender status is not the only acceptable form. Here are some crucial aspects to consider as you learn about gender identity and appropriate pronouns usage to avoid offending people unknowingly.

1. Respect: Working professionals must understand that their colleagues do not need to earn respect. Just as we all cherish our rights, we must extend the same courtesy unto others. Without genuine regard, the seeds of disclusion and discrimination may spring forth complex and severe repercussions. If you need to educate your employees about this, consider a sensitization workshop to address it.

2. Literary Barriers: Many of your staff were probably educated in an era when such realizations were non-existent. Thus, they may be habituated to the grammar they studied during their early days. But, it is our duty to update the language we speak, especially in the workplace where we encounter various people.

• Some obsolete salutations such as 'Ladies and Gentlemen' need to be eradicated from our vocabulary altogether. You can easily replace these with 'friends,' 'colleagues,' 'team,' 'everyone,' 'people,' and 'team members.'
• Even while informally conversing with a colleague, we must make a conscious effort to avoid words such as ‘babe, bro, man, dude, sister.’ Some of these may be highly inappropriate on so many more levels.
• Also, it’s time to expand your literary horizons to include the grammatical correctness of the pronoun ‘they’ used in the singular.
• Similarly, consider replacing outdated honorifics such as Ms., Mr., Mrs. with Mx. implying you are addressing a person gender-neutrally.

3. Assumptions: It is unkind to make assumptions based on someone's voice, stature, appearance, or name. As mentioned earlier, people need not conform to a gender stereotype. Hence, it is always good to use neutral pronouns such as 'they,' 'them,' and 'their' initially. Unless someone explicitly advises you about addressing them, you must practice using gender-neutral tones and pronouns in your speech regularly.

4. Ascertain: If a person hasn't advised you, consider asking the person politely. But, don't reserve this step only for the times you are unsure. It may be offensive if you use these exclusively for people from the LGBTQA+ community. Therefore, either use gender-neutral terminology or make it a habit to ascertain the correct form of addressal. Please avoid asking your colleagues or visitors for their 'preference'; gender pronouns are not a matter of taste. Reassure them that your inquiry is only so that you may address them appropriately. You may ease them into it by following your question with suggestions on how they may address you.

Also Read: The HR in Human Resources

5. Transitions: Remember, as human beings, we are constantly evolving. There may be certain values that were instilled into you as a child. But, through independent reasoning, circumstance, learning, or even preference, those values may no longer resonate with you. The best example that almost everyone may relate to, is how most of us probably didn't abide by the careers we chose as toddlers. Many of us probably wished to become ice cream vendors, candy store salespersons, or even a genie! Everything is subject to change, and gender pronouns are not required to be absolute tags. An employee who earlier joined as a woman must be respectfully addressed as they deem fit after a gender transition or reassignment.

6. Privacy: Always ensure you respect your employees' or colleagues' privacy. Although it is better to ascertain their pronoun, it is rude to enquire about their transition or surgery. Just as we are naturally inclined to be respectful in conversations regarding marital status, parenthood, and medical history, we must extend the same courtesy to gender identities topics that are also personal in nature.

7. Faux-pas: To err is human! So, if you make a mistake, acknowledge your fault instead of attempting to brush it off. Then apologize. Don't become over-apologetic, making it awkward for everyone in the space. While apologizing, don't corner the person; they are not expected to disclose personal details. Instead, attempt to rectify your mistake without focusing on yourself. Remember, they aren’t obliged to console you.

8. Education: While addressing someone who is not cisgender, don't ask them questions about the entire LGBTQA+ community. They are not representatives for an entire population. It's just like, as a human being, you do not represent the whole species. Instead, you must approach your HR team to educate you or confide in a comrade outside work if you seek help and information.

Nowadays, companies are becoming sensitive towards LGBTQA+ individuals and the inequality they face in the workplace. Thus, many HR departments have been relentlessly pursuing the matter to create a safe working environment that embraces diversity. Your organization’s work culture is a reflection of your company’s image. Hence, you must ensure your HR not only creates but also implements policies that uphold the rights of minorities. These may include healthcare coverage for same-sex spouses, paternity leave, parental leave for adoptive or same-sex couples, and medical policies that include sex reassignment.

Sculpting an inclusive work culture requires staff to use appropriate language and pronouns. It is not just the morally and legally correct thing to do, but it greatly benefits your business. Employee productivity arising from a company's human resources drastically improves when employees feel safe, respected, and accepted. Conversely, the consequences of an exclusive, inappropriate, or disparate work culture can be severe. If your company requires some assistance to streamline diversity issues in the workplace, please give us a buzz. We’re always happy to help! Exela HR Solutions are experts in HR consulting and HR outsourcing services. By partnering with a team with over three decades of experience, you assure employees of your stand and support towards this cause.

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

The best way to solve a problem is by treating it at the root, and the best way to get to the core is by comprehending it thoroughly. There may be a lot on the surface. And those may be consequential reactions or manifestations of the cause. But, to understand a situation, person, or problem, one needs to be cognizant of the elements. This is where observation comes in. It conveys many answers and provides essential details to create a mental blueprint. Then you can act accordingly. But, just reacting without an acuity cannot eradicate a problem. In fact, your response could be detrimental.

The same applies when you are managing your staff. You must put in some effort to understand them individually. Once you truly understand your employees, you will have the power to optimize their potential. This way, everyone wins. Your employees benefit from a leader who discovers and hones their skills, while the company benefits from a productive and efficient workforce. It's not all about learning their strengths or unearthing areas they lag in. If you understand their objectives, you're close to knowing what truly motivates them. And when you know what motivates your staff, there's no stopping you from building a firmly knit, proficient workforce!

Observation is awakening to the revelation of life. - George Prime

If you observe carefully, all your employees fall under one or more of the below-listed categories. We're not encouraging bias at all. We're not asking you to segregate staff into buckets of age, gender, orientation, experience, or race. But, what does make a difference is assigning, aligning, distributing, or teaming work based on personality traits. Even still, working professionals are human beings at the end of the day. And although they're your biggest asset, human behavior is unpredictable. But, the science that comes close to excavating secrets that may assist you in your quest to build an army of diligent and competent professionals is 'psychology.

' For instance, let's consider Herzberg’s Motivation Theory. You may know it as 'Herzberg's Motivation-Hygiene Theory' or 'Herzberg's Two Factor Theory.' After interviewing and studying a couple of hundred professionals, Frederick Herzberg realized that motivators cause employees to work harder. There can be several motivators within a work atmosphere. Growth, achievement, responsibility, recognition, and the nature of the work itself are notable motivating aspects. Different motivators appeal to different personality types. Each type may react uniquely to any given situation. And it is good to note that every rule, formula, and theory always has exceptions. However, here is a generic classification of the types of employees you may encounter and the ways to ensure both of you achieve success together:

Also Read: Reasons Why Your Employees Might Leave You in 2022 & How You Can Stop It from Happening

1. The Fun Ones

Free-spirited individuals who need to feel happy about their decisions and work fall into this category. Such employees generally have a high threshold for tolerance and patience. They need to feel like their work contributes to a greater cause, preferably one that passionately resonates with them. They may lack ambition, depending on their financial responsibilities and commitments. They prefer living in the present and are relatively easy to have a conversation with. Because of their adaptable and ductile nature, they make great co-workers and perform well in a team. They can easily diffuse an unpleasant situation and are fun as colleagues. But, they require freedom to make decisions, and they repel micro-management. If the fun ones have their heart in a product, team, leader, company, or desk, they will follow it efficiently to the end. So give this type a reasonably good work-life balance, and they'll be at their productive best!

2. The Thirsty

The thirsty employee is on a quest for knowledge. Letting them stagnate will instantaneously demotivate them. They wish to learn, develop, and blossom constantly. L&D (learning and development) and employee enrichment programs aimed at honing their technical expertise and soft skills excite them. They want to be the best version of themselves. They feel energized when they anticipate growth. Allowing them to assume greater responsibilities or fill multiple or varied roles across departments triggers a positive outcome.

3. The Buddy

This professional wants to befriend everyone. They work best in teams; they loathe working alone. They prefer open desks and cubicles instead of closed cabins. They're extroverts and usually get along with everyone. The friendly employee works best when they feel a connection with their co-workers. If they feel a sense of belonging, they can be admiringly loyal to an organization, dedicating an entire career and all of their productive life. Work culture impacts them significantly. An outstanding designation and pay above-market standards cannot tether them to a job. They care about the people and bonds. So employee engagement activities, social activities, and open communication lines keep this bunch motivated.

4. The Star

This particular type of employee can get on co-workers' nerves at times. Their need to constantly feel like the savior can cause some friction. But, a good leader knows how to draw out the best in them. They are ambitious, but they don't expect things on a platter. They are willing to toil to achieve their goals. They seek respect, admiration, and acclaim. If you do not recognize their efforts and contributions, they may initially strive harder, but if they are not given prominence, eventually, they will not feel motivated to continue with that same zest and fervor. They are absolute go-getters and may even supersede impossible targets to gain praise. They earn their reputation and seek appropriate rewards, which is fair. But, ignoring their contributions may not be a good idea.

5. The Boss

Just as the title suggests, the Boss wishes to boss around! They have profound leadership skills and are good at assuming responsibility. They work well in teams where they are given a superior position or tasks. They are experts at dividing and delegating duties appropriately for maximum output. They are always in control and can influence people and optimize resources. They are best suited for leadership roles where they can exercise authority. If you constantly undermine or commission them to tasks that warrant following as part of a herd, they may snap and look for better prospects elsewhere.

6. The Expert

These are the 'I'm always right' of the corporate world! In their defense, they may be specialists in their field and probably are always right. So, acquiring their inputs and recommendations can be worthwhile. These people are resourceful and seek an environment filled with like-minded individuals who can build and nourish their professional development. They may have several years of experience or academic achievements to their credit. They may seem silent and indifferent initially, but if encouraged, they can suggest admiringly creative solutions and develop appropriate strategies all by themselves. Allowing them to mentor subordinates enables them to be their productive best.

7. The Creator

This employee derives gratification from their own productive creativity. They aren't too stressed when complications or hurdles arise. They see opportunities in almost everything to solve and develop better workflows, strategies, and solutions. They become ecstatic when they find solutions and can contribute effectively. Such individuals are self-motivated and do not need additional encouragement. They relish positive outcomes, and that itself is rewarding enough. They have exceptional problem-solving and situation-handling abilities. They are organized, professional, and plan for contingencies. They flourish when faced with challenges. Mundane work and a static atmosphere are sure to dampen their spirits and demotivate them. They have tremendous potential if you allow them to be innovative and encourage them to think out of the box.

8. The Solo

These independent workers are good on their own. They prefer solo tasks and may not contribute much to a big team. They prefer lesser interactions, concentrating a higher priority on task performance instead. Solo flyers are responsible people, so if the onus of responsibility lies on them, they will ensure a task is performed well and within the stipulated time frame. Coercing them into a group or social activities may make them uncomfortable. Give them the space they desire, and they may woo you with the outcome.

9. The Prim-and-Proper

These workers are perfectionists. They are incapable of delivering a shoddy assignment. They ensure that whatever is entrusted unto them is immaculate and impeccable. Working under their leadership may be exhausting. But, they fill in roles upholding quality assurance very well. They are their own critics, and they don't shy away from making known their displeasure with another's work. You can productively harness their ability to observe the finer aspects and nuances within workflows.

10. The Stability Seeker

There are some who are unable to even begin with a task unless all the fundamentals are well-defined and within acceptable perimeters. These are the stability seekers. Don't confuse them with the perfectionists. These professionals need their assignments conveyed to them appropriately, preferably with every minute detail. They do so because they dislike taking risks and do everything in their capacity to reduce or even eliminate them. They like established paths and habitual tasks. They fear the unknown, and any new addition gets them flustered. On the other hand, they can be dedicated to routine tasks and immensely loyal to an organization. When you decide to allocate something different, it'll be better to assign a team member or a mentor they are comfortable with to reassure them through a transition. They feel safe and perform best in a stable environment.

The office is a melting pot of various personality types, and hybrid work environments are not exempt from witnessing this. Fortunately, this diversity ensures different perspectives and the ability to share the burden of tasks if assigned and managed smartly. The key lies in understanding your staff. When you get acquainted with their objectives, you'll be able to motivate them easily. Then, when you become aware of their professional traits and work styles, you can disburse work suitably and get optimum results.

But, of course, this requires a keen eye, talent, and experience. Just like when you outsource HR functions to a reputable brand like Exela, experts in the field with decades of experience in dealing with every type of employee, you ensure maximum ROI from all your resources, including your talent pool! Exela HR Solutions is a world leader in providing end-to-end HR solutions with balanced precision. Balancing is an act not everyone is good at! Click here to know how Exela HR Solutions can help you find and maintain that delicate balance.

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

HR handles many functions. Some of these are rather complex, while some are merely administrative. Nonetheless, all businesses need an efficient HR system that will neither crumble in a crisis nor be overburdened with monotonous daily operations. While the product or service you provide may be your USP and operations, finances, legal, & technology may be the CNS; HR is still the heart of any company. And, as essential as all other departments may be, the heart pumps life into them all!

So, it is essential to have an HR grid that is experienced, adept, and capable of handling all HR tasks with ease, thereby balancing the pathways that breathe life into all other departments. Hence, one cannot afford to have amateur HR staff. Errors in this space can ruin organizational foundations and lead to the collapse of an entire business.

However, not all organizations may have the budget to hire and retain the best talent. Especially with small-sized businesses, hiring and maintaining experienced, efficient HR staff to handle the rest of your employees can be a bit of a challenge. Nevertheless, there is a solution. It is pretty straightforward: outsource your HR functions to an appropriate service provider. If you aren't already familiar with this concept, yes, organizations of all sizes, especially the smaller ones, find it immensely convenient and pocket-friendly to outsource HR functions.

Because it's not about how much money your company makes; it's about how much you're able to save!

Most small businesses cannot afford big budgets. Saving money is crucial. As the economy yo-yos on a delicate string in markets that are so volatile and vulnerable, any expenditure must be justified. Additionally, all expenses must be reviewed periodically to ensure sustainability through these times. The top reason why smaller enterprises must opt to outsource such an essential department or at least certain functions within this department is the cost-effectiveness of such a move. Of course, there are several other benefits, but let us focus on the cost factor for now.

Listed below are some of the main ways outsourcing HR services can save your company a lot of money:

1. Salaries: The most obvious CTC (cost to company) is an HR employee's salary. And, despite the size of a company, no matter how small or local, there is usually more than one HR person handling the processes. So that's multiple salaries that need to be paid. These aren't one-time investments. They are monthly or weekly reimbursements that a company must disburse on time. Remember, your HR staffs are the ones processing everyone's salaries. So, if you do not pay your HR on time, everyone else will subsequently have a problem soon. Outsourcing HR services allows you to be untroubled about paying additional salaries. You don't have to pay extra, individual, HR staff. Your investment in HR ends once you've purchased an HR services outsourcing plan or appoint a good HR service vendor. Linked Blog

Also Read: The HR in Human Resources

2. Benefits: Apart from salaries, HR team personnel have additional associated benefits and perks. The average benefits package is well over 30% of an employee's compensation. That's still just an average; it could be a whole lot more depending on contracts and functions. All of those increase the expense value of the cost heads in your accounts sheets. By doing away with an in-house HR team and hiring HR outsourcing services, you eliminate the need to pay any additional benefits to non-existing staff.

3. Training: When you hire your own HR staff, you must train them appropriately. Right from their onboarding, induction and mandatory compliance courses to getting them familiar with the company procedures is a time-consuming, highly cost-intensive process. On average, most companies spend an additional 1/4th of the amount spent on acquiring new HR staff to get them oriented. This unnecessary training and the associated costs burden company resources that can be utilized for other productive purposes instead. By opting for HR outsourcing services, company policies and guidelines can be conveyed to expert handlers who are already proficient with the remainder of the essentials. So, you can direct saved funds towards better causes.

4. Penalties: Nobody anticipates a lawsuit. But, if you get entangled in such a web, it can drain all of your company's resources and completely uproot firmly established enterprises too. Moreover, non-compliance with regulations and improperly handled crises can result in penalties and fines that small companies may find challenging to bear. On the other hand, HR services outsourcing absolves companies of many such liabilities as competent HR staff always ensure compliance with state laws and regulatory authorities. Also, by professionally addressing sensitive issues, you can avoid possible incident-induced bankruptcies.

5. Time-related perceived Productivity Loss: It may be challenging to forecast absolute losses based on lost person-hours. However, it is undeniable that when you outsource certain HR functions, your HR staff spends lesser time on administrative duties. Many HR functions fall under the routine procedure category. An outsourced agency or vendor can easily perform these duties. Smaller companies have limited staff and resources, and they must use both optimally. Instead of burdening an in-house team with simple tasks, you can reduce a minimum of 30% of their duties up to a limit you deem comfortable. So, depending on the amount of functions you outsource, your HR staff can get more time for productive work. Engrossing employees in more significant jobs is a huge motivational factor that further enhances productivity among your HR team members.

As you can see, there are several cost benefits to outsourcing HR services. The cost involved in engaging a good HR service provider is far lesser than the monetary savings you can accrue. While big enterprises may thrive better with an in-house HR, smaller companies and startups cannot afford to ignore the cost benefits of external HR outsourcing services in this economy.

A simple fact that is hard to learn is that the time to save money is when you have some. – James Moore

Don't wait until it's late! Make the switch today!

Exela HR Solutions offer end-to-end HR outsourcing services. So you can choose to outsource as much of the HR functions as you deem fit. Exela is a NASDAQ-listed market leader in BPA. Serving 60% of the Fortune® 100 companies with decades of expertise, Exela is a trusted name globally. Exela’s HR Solution allow you to focus on your business and scale up while your HR functions are managed on time with precision and consistency. Despite its ubiquitous market presence and experience, regular feedback and a responsive customer service team ensure no loopholes or discrepancies arise between anticipated outcomes and service delivery. Exela understands that every entrepreneur and small business owner has future expansion goals. So, partner with the right team that will help propel your vision through simplified processes in a cost-effective manner! Find out more here

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

“The Great Resignation”

In case you have not yet heard about this term, here’s what you should know.

• An economic trend
• Employees across multiple industries are quitting their jobs voluntarily in large numbers
• Started in the early months of 2021 in the United States
• Also known as “The Big Quit”
• Employers struggling to fill in open positions
• Trend slowly spreading worldwide

CAUSE?

By the end of July 2021, more than 4 million Americans put down their papers, and US employers were looking at almost 11 million job openings that needed to be filled as soon as possible. These numbers have been abnormally high when compared with historical data. With an event of this size, it is only natural to ask questions to get to the bottom of the issue: Who is causing this and why? The Harvard Business Review recently conducted a detailed research into this event by studying over 4,000 different employers and 9 million employees to draw meaningful patterns and build concrete conclusions for this problem. With sophisticated analytics running through such a large cluster of data, they were able to pinpoint the two biggest factors responsible for causing this snowball effect of mass resignations. Firstly, the data made it fairly evident that people working in the healthcare and tech industries showed the highest rate of resignations in the past year. Additional data suggests that not only healthcare but frontline workers across multiple industries quit their jobs in the last 6 months. A deeper look into this issue points all fingers towards the ongoing pandemic. During the peak of the pandemic, frontline employees were denied benefits like time-offs and instead were made to work longer hours due to increased demands. Such workers were immediately subjected to extreme stress, anxiety, and physical ailments caused due to these unfavorable psychosocial hazardous work environments. Increased workload led to burnout which eventually led to mass quitting. On the other hand, people working in tech had a different reason altogether but unsurprisingly had the same final affect – burnout. Around 90% to 95% of tech workers were working remotely during the pandemic. Employees quickly adjusted to the new normal and were as productive as before. However, multiple surveys and studies, over the course of the pandemic, quickly found out that employees were working way more than the standard 9 hours due to ease of access to work and increased demands during the pandemic. The result? You guessed it right – burnout due to increased stress and anxiety.

The second biggest reason that HBR’s study pointed out was demographics. The research found out that the majority of the resignations that were handed in were from mid-career employees between the ages of 30 to 45. This, too, can be tied to a very specific reason – safety. When the pandemic began, Gen Z and millennial employees between the ages of 20 to 25 were at greater risk of landing a new job because, with remote working, employers quickly hesitated from hiring folks with little to no experience. With little to no experience, any employee has to spend time in-person with the team or mentors to get a proper hang of work to take on the responsibilities efficiently. This was impossible with remote working. Therefore, the next best group of people that could take on newer responsibilities in newer organizations were the mid-career employees who were sufficiently experienced to hit the ground running. It could’ve also been possible that after all the high workload, limited staffing, and stagnant pay during the pandemic, the mid-level employees reached their breaking point and had the liberty to rethink their work-life balance while also being in the best position to switch jobs to suit their needs and wants. Either way, the resulting consequence could not have been any different – people quitting in large groups.

Also Read: An Alarming Trend in Employee Behavior

YOUR RESPONSIBILITY AS AN EMPLOYER

• Existing Employees: If you happen to be one of the unlucky ones who suffered from the Big Quit, your first step should not be to start looking for replacements instantly. The very first step you should be taking is to stop the bleed. Acknowledge the contributions of your existing employees. Show your appreciation towards their work and compensate them monetarily or in terms of benefits, without holding back. This builds trust, improves work culture, motivates people to do more, and makes people want to continue working with your company. After taking this step first, you might want to start building on your hiring strategies to backfill the lost positions. Additionally, you must also regularly collect employee feedback data, identify root causes of existing problems in work culture, and develop highly customized retention strategies to correct the wrongs that may exist in the culture. For example, if you discover members from a certain team leaving at a higher rate compared to other teams due to the leadership style of the manager, you must work towards a permanent solution to stop this problem. Regular feedback from employees helps avoid this problem and increases people’s trust in the company, which brings us to our next point: communication.
• Communication: Lack of communication compounds over a period of time only to return and stab you in the back at the worst possible time and when you expect it the least. When an employer is unable to convey or is deliberately trying to withhold information about what is going on, it creates confusion, breeds fear, propagates doubt, diminishes employee-employer trust, and instigates uncertainty within the company’s people. Once the wheel is set in motion, it can be challenging to avoid the disastrous consequences – like a tiny snowball rolling down a mountain and becoming a giant ball of death by the time it reaches the foot, destroying everything in its path. The smartest companies understand this and always try their best to prevent such events at all costs. The simplest form of avoiding greater damage is communicating the truth to the employees whenever you have new information and giving them hope for the future. It might seem counter-intuitive in many ways, but that’s what works best for a company’s reputation and success in the long run.
• Direction: In the face of uncertainties like natural disasters or pandemics, the only thing that gives hope to the workforce and keeps them going is continuous signs of progress. A recent survey from humu.com revealed that employees who didn’t have a clear and achievable goal or milestone were six times more likely to quit and join another company. Therefore, combating this issue is vital to the growth and retention rate of the organization. The managers are the ones who are majorly responsible for solving these problems in their teams and have to actively take the initiative in fighting ambiguity in the minds of their employees. A fair percentage of managers might resort to micromanaging by default – which has been proven to be the worst way to motivate employees. Micromanaging must be avoided at all costs. The best ways to keep the workforce motivated and focused on their goals are:
• To give employees clear, time-bound metrics for success
• Measure and manage
• Give direction
• Avoid micromanagement
• Allow higher autonomy
• Make them feel like they’re a part of something larger than themselves
• Identify unique skills in each employee and use them for collective growth

Exela HR Solutions offers end-to-end HR services to companies across different industries, around the world right from recruitment and payroll to corporate training and HRBP services. Speak to us today to optimize and standardize your people strategies for 2022.

Sources: google.com | humu.com | en.wikipedia.org | reddit.com | hbr.org | weforum.org

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

Ever since the UN General Assembly adopted the Universal Declaration of Human Rights in 1948, the 10th of December is observed as International Human Rights Day worldwide. The UDHR is the most translated document globally and is available in more than 500 languages with the core message explicitly mentioned in the first Article, ‘All human beings are born free and equal in dignity and rights.’

This statement implies that every human being, irrespective of sex, color, orientation, religion, race, caste, origin, and status – political or social or any other difference is entitled to a set of rights as a human being. These cannot be earned, purchased, accumulated, or prioritized. It is unconditional and infinite, and there can be no limit or exceptions to its claim.

Human Rights ≅ Human Resources?

Human Resources isn't just a professional chore that needs to be carried out; it's the thing that runs businesses! Employees are the most significant resource in every organization despite structure and size. If harnessed efficiently, they possess the potential to be an organization's most valuable asset.

As Jim Collins puts it, "Great vision without great people is irrelevant."

Ideally, it is not only the moral but also the legal obligation of organizations irrespective of size and turnover to respect, protect, fulfill, and promote the human rights of their employees.

The common element in Human Resources and Human Rights is the word 'human.' One expects this department to be the most humane in an entire organization. Conversely, studies reveal this department lacks that same 'human element.'

As per this study, a startling 37% of employees wouldn't feel comfortable reporting sexual harassment, while 43% wouldn't report discrimination on various grounds. About 70% of employees believe the HR department does not represent them and always sides with management. They prefer to do 'nothing' or explore options to deal with a situation themselves, avoiding the inclusion of HR under any circumstance. The fear of reporting supersedes the plausibility of a favorable resolution!

Human Rights in the context of business

From an organizational perspective, human rights provide a benchmark for minimum acceptable standards of behavior within the workplace or aspects of professional duties, relationships, and boundaries. The idea of applying human rights to business processes, policies, and strategies is a relatively recent one. However, efforts and pressure exerted from reputed international organizations on governments have made it essential for businesses worldwide to consider human rights and their application within the context of business. It has been decades since its inception, yet companies struggle to integrate its true essence and implementation. Let's look at a few basic steps to achieve this.

• Get acquainted with the scope of Human Rights.
• Thoroughly comprehend its applications and implications.
• Develop, practice, and promote an uncompromising, approachable work culture.
• Reinforce this culture through example-setting and immaculate, untarnished records.

Also Read: Human Resources | A Peek into the Future

The Scope

In the pursuit of building a work environment that encourages and idealizes the notion of equality and disapproves discrimination of any nature, one must understand the aspects of human rights that are relevant to business. Well, in brief, all human rights are relevant! Not just social, civil, and cultural, but also the political, economic, cultural rights of all employees must be considered. If we were to simplify and summarize this broad spectrum, it's as easy as ingraining humanity in all aspects of business!

The famous verse from Matthew 7:12 later reiterated in Luke 6:31 advises us to 'do unto others as we would have them do unto us.' It’s all about fairness and empathy. And the way to accomplish this is to continually remind ourselves that human beings aren't robots. They are not pre-programmed to function as per optimal conditions suited to a particular job profile. They have inhibitions, strengths, motivations, goals, boundaries, families, social networks, weaknesses, concerns, challenges, and limitations.

The Reality

The fact of the matter remains that in the daily humdrum of office life, all conflicts and disappointments make their way to the HR desk. This department is only associated with misdemeanors and drama. If it doesn't commence there, it ends up there. And more often than not, the endpoint is despair. The HR desk witnesses the full extent of human flaws and outrages. Yet, they must function with human connect and intellect while upholding employee morale and rights. Besides, they also have the responsibility to protect the organization's values that provide funding to their desks!

The secret to bringing 'human' rights into human resources is simple. Just be human …while concurrently maintaining professionalism. There lies the catch! It may seem like a tall order, but it is possible. Remember, practice makes perfect. With conscious effort and practice, eventually, it will reflect in every situation. An HR professional must approach every HR issue while being emotionally present and empathetic. But, one must recognize and respect the boundaries and limitations of the official structure and stay protected while representing the company at all times.

Desensitized as a result of Disengaging

Let us consider a regular day in the life of an HR professional. In the morning, HR deals with one sexual harassment issue. They're fresh and peppy in the morning. So, they lend an ear, investing time, attention, and emotion. A gender bias case comes up by noon, and the same personnel displays empathy and addresses the concerned parties with understanding. In the evening, a racial slur spurs up a controversial storm. By now, this professional is probably exhausted and less invested in this matter. And a moment's lapse of protection awareness is all it takes to tarnish everything they've been working for so diligently.

In most likeliness, maybe a day might not have such a varied and drastic effect, but HR professionals learn to disconnect and get desensitized over a period of time. Those who continue to protect the department's halo end up feeling miserable or, worse, switching careers. Experienced HR staff eventually siphon out the emotional quotient of the equation while dealing with issues. While they're momentarily protecting themselves by not investing any emotion, their judgment lacks the fundamental essence they stand to defend. It may sustain them a while longer, but they will certainly lose their sense of purpose. Engagement brings motivation, and motivation drives purpose. Without these, HR teams will be unproductive. A good alternative to these extremes described here is adopting a balanced strategy. When encountering a situation, HR teams must consider these aspects, which would be the cogent approach to resolving any situation rationally and reasonably.

• Grade, categorize and classify the situation as per protocol
• Apply company policy without exceptions
• What was the intention?
• Was it deliberate, planned, or involuntary?
• What are the implications?
• What is the extent of the damage?
• Are those damages reversible?
• If so, what is the cost of reversing those damages?
• Was it repetitive? How often?

The Solution

First, maintain sensitivity to the environment, situation, and employees involved. This is where humanity must be displayed; empathy and emotion must be present. Then while diagnosing the case, let reasoning take over and classify the situation as per company guidelines. There cannot be disparities, partiality, and bias because one feels more connected to a particular person or cause than another situation or employee. SOPs must be adhered to. This is where professionalism comes in. So the secret recipe to resurrecting human rights in human resources is 'balance.'

By choosing to outsource HR functions to a reputable brand like Exela, established experts in the field, with decades of experience in dealing with every possible HR issue in the most humane-yet-professional manner, you eliminate the possibility of inappropriate, disparate, or unjust outcomes without bearing the burdens of employing an in-house HR! Exela HR Solutions is a world leader in providing end-to-end HR solutions with balanced precision. Click here to learn more.

In an attempt to uphold human dignity

Within the horizon of official facilities

Ourselves, let us rededicate

This concept to propagate

Irrespective of our many differences

The involuntary ones and also our preferences

We are all born free

And have a right to equality

As we celebrate Human Rights Day

Let’s make this pledge today

To do things the humane way

Exela HR Solutions

Will always stand by these principles

Happy Human Rights Day from Exela Technologies!

Statistical Reference Sources: un.org | zety.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

There has been a lot of discussion, online as well as offline, related to perks and pay – whether it should be kept the same or is a much-needed revision due any time now. “Right” is a subjective term where the meaning depends on the context in which it is placed. What was “right” before the pandemic might not necessarily be right after so many fundamentals of working have changed ever since. Employees, on the other hand, have been extremely flexible in adapting to the new normal, with some liking it more than others. For example, remote working for working mothers who might have toddlers at home to care for, came like a blessing in disguise. It made their work-life balance perfect. Whereas some traveling salesmen, who might’ve been used to performing at their peak while sitting with their clients in-person across a table, might not have liked the remote working situation very much. What may seem right to one employee may not seem right to the other, which is why, today, we will be looking at various aspects of compensation and benefits – why it matters, should it be changed, and what happens if we change or don’t change the current system.

IMPORTANT DIFFERENTIATIONS

Let us first start by differentiating between compensation and benefits. Compensation is everything that is given to an employee in exchange for their work. Benefits are a part of compensation and are strictly non-financial in nature, while compensation can be both financial and non-financial. Compensation is generally used to attract top talent from the market into the company, while benefits are generally used to motivate existing employees in the company. Compensation is a direct form of payment that is taxable, while benefits are more indirect in nature which can be fully tax-exempted. These are important differentiations to keep in mind if you are an employer or a business owner, especially a new one.

CHANGE IN THOUGHT

Every industry has seen significant growth in the past decade. Naturally, this has an effect on employees. Continuous positive growth automatically attracts top talent and, with it, high expectations. According to a recent SHRM Online survey, 88% of all current employees reported being fairly satisfied with their jobs – a record high since 2006. When asked further about their reasons for job satisfaction, most of them reported these three reasons to be the main drivers of their positive experience:

• Respectful treatment of all employees
• Compensation
• Benefits

Humans are the single most important asset of any company. It doesn’t matter how much automation a company has implemented, nor does it matter how much it will implement in the future. If the humans are not cared for, everything else crumbles with time. Employees will always be the final deterministic cause of any company’s success or failure.

Flexibility was an important factor that was tested during the pandemic. People started working remotely, which improved their work-life balance while keeping their productivity constant. In some cases, people found themselves pushing their productivity beyond what was previously possible. People could easily switch between work and chores without hampering efficiency. Since this was never tested at such a massive scale before the pandemic, employers tended to shy away from remote working ideologies in fear of it affecting productivity. However, since the pandemic, employers have become more welcoming of remote work, and if you scout recent job postings, employers have even started offering remote work as a perk – making it an inclusive part of the overall compensation and benefits strategy of most organizations. Other perks such as improved health insurance, food/shopping vouchers, flexible work schedules, free access to professional development platforms, mind and body fitness subsidies, unlimited vacation, etc., have started making way into the overall payout package of employees across all industries. After all, attracting top talent and retaining them over several years is one of the primary objectives of organizations across the world. Offering such perks gives more credibility to the employer, improves reputation in the market, and most importantly, makes potential hires choose you instead of your competition.

Like benefits, when it comes to compensation, employers must be aware of what they are offering versus what the market is offering for a particular job role. It is imperative to offer competitive pay for every job role that you must pay. One of the more common mistakes that you may notice employers make is offering good perks but below-average pay. Such a strategy may push employees to accept your offer, but then it becomes a challenge to keep employees motivated in the long run, causing them to lose motivation and start looking for newer opportunities in the market. A recent tweet by Naval Ravikant, an Indian-American entrepreneur and investor, read, “Pay double and insist on ten times the quality,” to which Ankur Warikoo, an Indian entrepreneur, replied, “Works best for trust. Do double (without being asked to). Earn ten times the trust”.

Also Read: Will HR Outsourcing Be Feasible After Pandemic Ends?

Some of the best business owners and managers understand the importance of showing value to employees in the form of direct monetary benefits. It is one of the easiest methods to improve trust, productivity, and efficiency. Companies like Google, Microsoft, Netflix understand this very well, which is why they don’t hesitate to pay their best employees 5 to 6 times more than the average market rate. These employees, in turn, perform at their highest level, making the company grow at ludicrous rates. That being said, it is fairly evident that not every business in the industry will have the financial liberty to 5x their employee pay overnight, but the best part is that it doesn’t have to be that high. This Caribbean food chain in Florida, USA, managed to end labor shortage for their business by making small changes directed towards their employees. The US restaurant industry currently faces an acute labor shortage after lockdowns were lifted a few months ago. This food chain managed to fight the shortage effortlessly by making these small changes in their compensation and benefits packages:

• Higher wages for staff
• Weekend-working bonus
• Bigger sign-on bonus
• Bigger referral bonus
• Childcare leave
• Free education programs
• Cheaper medical plans

Conclusion:

This change in thought across multiple industries has allowed businesses to thrive in challenging environments such as the one we currently live in – the post-pandemic world. On the contrary, the general workforce, especially the Gen-Z workforce that is entering fresh in the market, is entering with a lot of expectations that have to be met by employers because if not, this new workforce is ready to hop from one job to another until they are comfortable. This is the reality today.

Imagine an employee receiving two job offers offering the same pay, but one of them is offering way more benefits than the other. Which one will he/she choose?

Exela HR Solutions is a world leader in providing end-to-end HR solutions to businesses of all sizes worldwide. Get in touch with us today to learn more about our payroll and compensation and benefits offerings.

Sources: google.com | en.wikipedia.org | betterup.com | shrm.org | theguardian.com | twitter.com | reddit.com | businessinsider.in

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

WHAT IS HR CONSULTING?

In simplest terms, HR consulting can be defined as a group of HR experts (usually a business) offering their expertise to other businesses who need it.

According to a recent study by Consultancy.org, global consulting today is a $250 billion market, one of the largest in the professional services industry. Within this market, the HR consulting services market is currently estimated to be valued at around $30 billion. These numbers weren’t realized overnight. Years of conscious and deliberate development of this service have led the industry to where it stands today. But why do businesses feel the need to hire 3rd party experts? Is running your HR internally no longer feasible? Or is it just one of the cost-effective solutions?

Managing one’s HR has never been a core function of any business. Unlike departments like sales and marketing, it is treated as an auxiliary function that does not contribute directly to the growth of the company. But having said that, the opposite idea of not having an HR department is also not practical. All businesses need HR to ensure smooth operations. HR management is necessary to fill in talent gaps, keep the workforce motivated, address employee concerns, and drive company culture. However, as inflation keeps tightening its grip around humanity’s neck, the idea of running a fully functioning HR department in-house is starting to seem more and more absurd with each passing day because HR, as a whole, is seen as a draining source of time, money, and efforts of all those who are involved behind making it a success.

Many businesses today do the smart thing and outsource difficult functions of their HR to 3rd party experts. Take recruitment as an example. It is a highly time-consuming and expensive task to find relevant talent. It can take up to 2 to 3 months to find, select, onboard, and train a new resource before they can start contributing as per company standards. Of the aforementioned duration, a majority of the time and money is spent on just finding the right person. When such tedious tasks are outsourced to HR consultancies, businesses save a lot of time and resources, which can be diverted further towards other meaningful purposes like building reward programs or developing flexible appraisal strategies.

Let us now look at some other unique ways in which HR consultancy services can help your business save resources and grow faster than your competitors.

• EXPERTISE: Not everyone can be good at everything. The most obvious reason for this statement being true is that it takes a lot of time and dedication to gain experience, which leads to expertise. HR is a big umbrella consisting of different functions like recruitment, payroll processing, performance management, labor law compliance, regulatory compliance, compensation and benefits, learning and development, employee development management, etc. In a typical HR team on the company payroll, achieving expertise in all these sub-functions of HR can be a challenging hurdle to cross, if not outright impossible. In specific functions like regulatory compliance management, it becomes even more difficult to keep up with constant changes in local, national, and international laws. Therefore, investing never-ending time and resources (internally) in such functions becomes a game of cat and mouse.
  Hiring a third-party service provider solves this problem. Established HR consultancy service providers like Exela HR Solutions have an army of professionals who experts in their own sub-function. This way, you never have to worry about playing catchup with changing labor laws or spend two months finding the right person to fill up a position. Experts get it done for you accurately and on time.

Also Read: Human Resources | A Peek into the Future

• EFFICIENCY: Let us look at an example of recruitment – you building a team in-house vs. you hiring an HR consultancy service provider. Let’s assume you need to hire 13 customer service representatives and one manager in the next 45 days. The first thing you look at is the budget allotted for this hiring activity. Now let’s assume you decide to run this activity in-house. You will need to hire talent acquisition professionals who will be on your payroll full-time. Then you will need to train these professionals, get them acquainted with the business, team-specific needs, etc. Then, sort them according to their expertise. TA specialists who are good at filling up technology positions will work with technology department leadership while TA experts who are good at filling up operations positions will work with the managers who manage the operations department. Then, you will have to spend more money and time on getting the right HR tools for your team, train the team on the new tools, and then wait while they work their magic.
  You spend money on salaries, HR tools, and training costs. Then, you wait until you get a set of applications. Your team sorts through them, shortlists a few, engages in multiple rounds of interviews, and then finally makes an offer to a few of them. More often than not, people will not accept the offer as they get a better offer somewhere else. If that’s the case, you then need to start the entire process again.
  Now let’s assume you decide to outsource this activity. You speak to a few HR consultancy service providers and choose to pick Exela HR Solutions. Once all the formalities and agreements are completed, our experts will get on a call with the decision-makers in your organization. We will note down your requirements, your terms and conditions, offerings, brand image information, deadlines, and other related information. Your job ends here. We then start the search for you using our specialized networks, advanced HR infrastructure, and tools. Within a few days, you will begin receiving thoroughly vetted interested applicants from who we have spoken with first, before sending them your way. Once your decision-makers give the go-ahead, we instantly begin the onboarding and training process of your candidates.
  The biggest advantage you will notice with expert HR consultancy service providers like Exela HR Solutions is that services like these are both time-efficient and cost-efficient. You get results quicker because of the expertise of the professionals you hire, and you pay only for what you get, that is, people. As a result, you save on all extra costs like buying expensive HR tools, training costs, and salaries. All the saved resources can then be easily invested towards the growth of the business.
• COMPLIANCE: Keeping a business compliant with local and global laws is daunting. New laws like GDPR & CCPA are introduced every once in a while, existing ones keep changing, and your business is expected to keep up with all of them or risk getting fined heavily.
  Running compliance management in-house can be a very costly project since you need to hire the best people in the business with large salaries who can take up this important responsibility of keeping every department of the business compliant at all times – a never-ending process. In addition to the large salaries of the experts, other compliance-related costs like administrative costs, enforcement costs, equipment costs, material costs, external services cost, fines for accidental delays or inaccurate filings, and the cost to maintain a culture of compliance within the organization add up quickly, increasing the financial burden of your company.
  Most of the time, when you hire a third-party HR consultancy service, these costs are greatly minimized since you pay only for one service, usually on a per-hour basis, as opposed to setting up everything from scratch. This again gives you a great opportunity to save resources and implement them into the core functions of the business like sales, R&D, marketing, etc.

Conclusion: Running everything in-house sure is convenient as it gives you a greater degree of control, however, it also increases your liability and the cost of running your business. Exela HR Solutions makes your decision to switch a no-brainer because you have full control while your costs are minimized to a very large extent. Get in touch with us to start your real growth journey today!

Sources: google.com | en.wikipedia.org | yourstory.com | consultancy.org | pideeco.be | digitalguardian.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

“Change is the only constant and hanging on is the only sin." - Denise McCluggage

The human resource industry, like all industries, has been progressing steadily using technology as the main driver. Better the tech, better the human resource solutions. HR, today, is at a stage where the technology is available but mass adoption is still a problem. Only a handful of companies are spearheading their way into technologically advanced HR solutions. So, what are these companies looking at? How are they formulating their long-term strategies? And why are they so invested in the research and development of their products and services? Let us have a look.

DATA IS KING

A LinkedIn study recently confirmed that almost half of all human resource professionals acknowledge that “data” is the top trend to look at in the recruitment process yet only 9% of hiring decision-makers admit to having good enough tech to process data and get the job done. This concludes that there is indeed a major technological gap and awareness problem that needs to be addressed first.

Today, a majority of the businesses in the human resource domain understand that they need to work on data because most of them lack the technological prowess to process it. This makes them dependent on 3rd party data mining and warehousing companies that help them process and interpret that data. Once the data is processed and interpreted, only then can these businesses create a meaningful story, anticipate future needs, and try new growth strategies for their business.

But this dependency on 3rd party data companies can sometimes do more damage than good. With such an arrangement, companies often lose control or have very little say in “how” the data is processed and analyzed. Questions are asked, data is processed, answers are given. This is how it works. But when research and development are done in-house, companies are free to do all sorts of permutations and combinations with their data. Human resource teams gain a holistic understanding by having a 360° view of their data. This enables them to further inspect, analyze, and attack the problem from various different angles in order to get to the truth. Such companies, that do in-house analytics, then have access to much more valuable data than their competitors who might have used 3rd party data processing services.

BUILDING TECH THE RIGHT WAY

Most people, when they hear about advanced automation technologies, like machine learning, artificial intelligence, neural networks, natural language processing, etc. they think about machines working round the clock, doing all the work for us. But this expectation is not pragmatic in the real world. In reality, most companies prefer a healthy mix of machines and human contributions. The first step of integrating advanced tech into your company is to optimize your workflow in accordance with the tech stack. Then carefully identify areas that can be automated or partially automated. Once this is done, humans can be trained on the new process. This is how tech should be built and optimized around human workflows. While you do all the creative parts that involve critical thinking and decision-making, software robots can make your life easier by doing all your grunt work like crawling through tens of thousands of web pages, shortlisting potential candidates, going through their resumes, extracting contact information, sending them the initial contact email, creating reports for you, and then sending the human resource department those reports via email. All this robotic process automation can happen in the off hours while you sleep.

You can also build talent pools using this type of automation. Ready talent pools can give you instant access to talent when you need it, cutting down the cost and time of hiring people. Some companies take up to 4 months to fill in a vacancy. With your advanced hiring optimization and ready talent pool, your human resource department can hire within 2 to 4 weeks and open up the possibility to surpass your competition effortlessly.

A SHIFT IN APPROACH

Approaching potential candidates has not been the same as before. With the advent of social media, “grabbing attention” has become the meta of the game. Traditional hiring techniques, therefore, seldom work as they are intended to. Talented individuals do not experience a dearth of offers which is why you, as a human resource manager, cannot fully rely on traditional hiring methods. You have to introduce modern, guerilla techniques to grab the attention of highly sought-after individuals.

The first step is to collect and analyze data. This data may include: average demographic of the people who might fill your vacancy, what social media platforms are they most active on, do they prefer email or chat, what type of media (video, blog, image) do they mostly respond to, what is your market reputation and what is the sentiment of these potential candidates towards your company or human resource department, are they frequently active or passive or both, etc.

Once all this information is known, you can start formulating strategies to attract top talent for your vacancies. Keeping a marketing mindset to approach this problem, with the help of data, can work wonders for your hiring efforts.

Also read: How to Spot Great Talent?

VIRTUAL HIRING

Google Trends data clearly shows explosive growth in remote virtual hiring after the pandemic. It has become one of the most important priorities of hiring departments and because of this sudden shift, virtual hiring tech like video interviewing and team collaboration applications saw a rise of more than 500% in March of 2020 in just one week!

The COVID-19 pandemic acted as a catalyst that resulted in the development and release of advanced remote working technological infrastructure. With no other option other than virtual interviews, companies rushed to create an ecosystem that could comfortably support remote work and hiring. All preconceived notions of remote working were tested rigorously and the results surprised the human resource departments. Productivity, in most areas, did not take a hit. With this conclusion, human resource departments have become serious about including remote work and virtual activities full time into their organizational structure because of the competitive advantage it provides.

Exela Technologies is a world leader in human resource process outsourcing. HR is what we do — day in and day out. We have a team of experienced HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only do we bring the best HR practices and advanced human resource technology to your company, but we also minimize employment-related risks and help you take even better care of your employees.

• Fast and Efficient Talent Acquisition Process: Our well-built networks over the years allow us to find the right talent for your business as quickly as possible. This includes requisition management, sourcing and applicant tracking, interview assessments, offer management, onboarding management, and more.
• Global Payroll Processing & Full Employee Benefits Administration: Our powerful HR technology that will back your organization, has the ability to deliver payouts globally and on time. We also manage employee benefits like variable-component, hazard pay, overtime, etc. so your employees never get less than what they deserve.
• HR & Business Partner Services: Dedicated HRBPs for your employees to make sure every issue or concern of theirs is addressed effectively and on time. This includes grievance management, leave management, engagement activities and surveys, travel and expense management, rewards and recognition management, workshops, coaching and mentoring, virtual focus and open house meeting management, and more.

Speak with us today!

Sources: google.com | en.wikipedia.com | recruitingblogs.com | theguardian.com | linkedin.com | icslearn.co.uk

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

Running a business can be daunting. According to a recent HubSpot survey, 1 out of every 12 businesses in the United States shut down permanently each year. It may seem like a small number, but that’s a lot of companies going out of business – almost 2.6 million per year. The most common reasons for shutting up shop are apparent. Poor service, poor planning, poor product-market fit, hiring the wrong people, and inaccurate pricing are a few of the reasons that take down a majority of the businesses. But if you observe closely, all these problems arise due to human error. This is why hiring the right people and keeping them with the company for a long time is more important than any of these problems.

“Treat the cause of disease, not the symptoms.”

WHAT IS ATTRITION RATE & HOW IS IT CALCULATED?

In the simplest of terms, the attrition rate is the speed at which employees leave your company. For example, you own a multinational company with offices all over the world. You decide to calculate the global attrition rate of your company for January.

Looking at the data, you notice that there were 8,505 employees on your payroll on January 1st.

On January 31st, there were 8,604.

You dive deep.

In those 31 days, you find 308 employees left your company.

But your company managed to hire 407 people before the month ended, which totals 8,604 on January 31st.

Demographic-based attrition: This type of attrition can be classified as a sub-type of “voluntary attrition.” In this type, members of a specific age, sex, or ethnicity leave the organization due to a significant and common reason: discrimination. In addition to getting your company’s reputation damaged, your company might also lose business/customers very quickly if the rest of the world is made aware of these issues. Worst case scenario, you can be hit with a class-action lawsuit if the victims have strong evidence against your company.

So, since you’re in the net positive, no damage done, right?

Wrong!

Attrition rate still matters.

Let’s first calculate the average number of employees in January: (8505 + 8604) / 2 = 8554.5

Then factor in the number of employees who left the org and calculate the percentage using average employees: (308 / 8554.5) * 100 = 3.6%

Your company’s global attrition rate for January was 3.6%.

TYPES OF ATTRITION?

• Voluntary Attrition: Cases where your employee or employees choose to leave for their own reasons. Most common reasons include the pursuit of newer opportunities, relocating to a different country/state, paternity or maternity reasons, or health-related reasons. Willingness to leave a toxic work environment can also contribute to the voluntary attrition rate, which as an employer, you should be looking into as quickly as possible to fix the problem and prevent other employees from leaving.
• Involuntary Attrition: Cases where one of your employee or employees are asked to leave the organization. The most common reasons include poor performance or layoffs due to budgetary or reorganizational reasons. Abandonment from employment can also be categorized under involuntary attrition even though the employee has left voluntarily. This is because the company is responsible for taking the final call of termination.
• Internal Attrition: When an employee or a group of employees leave their team or department to join another team or department within the same organization. Although this seems like a good idea, excessive internal movement can have an adverse effect on the team. Too much movement at once or frequent movement of a resource from one team to another must be avoided to preserve the existing dynamics of the teams and their members.
• Demographic-based attrition: This type of attrition can be classified as a sub-type of “voluntary attrition.” In this type, members of a specific age, sex, or ethnicity leave the organization due to a significant and common reason: discrimination. In addition to getting your company’s reputation damaged, your company might also lose business/customers very quickly if the rest of the world is made aware of these issues. Worst case scenario, you can be hit with a class-action lawsuit if the victims have strong evidence against your company.

Also read: How to Spot Great Talent?

WHY DOES IT MATTER?

There are many important reasons why the attrition rate acts as a compass for your company, giving constant guidance on whether or not you are steering your ship in the right direction. No matter if you’re a business with five employees or 50,000 employees, the foundation upon which any business thrives is people and people only. The people of your company can either make or break your company. Therefore, it is imperative you keep a close watch on every aspect of your employee-related operations.

Too many people leaving your company can have a negative impact on the performance of your company. The first impact can be felt in the cost of hiring. According to some recent studies, replacing a highly skilled employee can range from 120% to 200% of their annual salary. If this practice remains unidentified for a long time, it can have a devastating impact on the overall budget, which might even result in a permanent shutdown.

A proper handover process is vital. Without a planned and extensive handover, institutional knowledge will permanently leave the organization, which is the worst kind of loss. Money lost can be earned back. But once old knowledge leaves the company without transferring it to someone else, employees are stuck and are forced to reinvent the wheel. Unless one has a detailed succession planning process in place, it is almost impossible to transfer all the knowledge an employee has acquired over the years. Following a proper handover process softens some of the hard blows that come with the problem of having a high attrition rate.

The departure of an employee will also affect the people who work around them. More often than not, the withdrawal results in additional pressure on other team members, who are already overloaded. Departures may also lower morale, increase stress, drain employees, and perhaps even affect the company’s overall business performance.

When someone leaves, it changes the dynamics of a team and can even damage the employer’s brand and the employer value proposition (EVP). This is the primary reason why recruiters often mention they have a hard time recruiting new people when the company has a history of a high attrition rate.

HOW EXELA HR SOLUTIONS IS HELPING OTHER BUSINESSES WITH ATTRITION RATE

Exela HR Solutions is a global HR outsourcing company. We offer a full suite of HR services to our clients, from recruitment process outsourcing and global payroll processing to benefits management and HRBP services.

We have a team of HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only that, but we also bring the best HR practices and robust HR technology to your company that minimizes employment-related risks like accidental non-compliance and compensation miscalculation and helps you take better care of your employees.

Our HRBP services are great at combating high attrition rates. Our services are designed and executed to provide highly professional and dedicated one-on-one support for each of your employees. With the help of experienced HR experts and tried-and-tested methodologies, Exela can help you recover and grow by providing exceptional support and technology for your employees at all times.

Contact us today!

Sources: blog.hubspot.com | personio.com | peoplehum.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.