Author Archives: Larry Janis

Why Empathetic Leadership Is The Best Strategy For Retaining Tech Talent

 

 

by Jon Flaherty, Chief Executive Officer – Americas, Revolent Group.

The tech sector is infamous for its high attrition rates. Recent research by LinkedIn reveals that the average turnover for tech roles currently stands at 12.9%. While salary and bonuses will be important, money isn’t everything. The shifts in priorities we’ve seen during the pandemic and the “Great Resignation” have shown us that today’s professionals are looking for more than just a paycheck from their employers. This has put a spotlight on the empathetic leadership style, as it can go a long way toward retaining tech talent.

What Is the True Cost of Employee Retention?

If you have recently hired a tech specialist, chances are they’ll leave within the first two years. It’s nothing personal—even household names like Zoom and Reddit are struggling to hold onto their employees for more than 18 months on average. The cost of replacing just one employee is staggering—ranging from one-half to two times their annual salary, according to Gallup. Plus, the more senior the role is, the higher the cost of replacing it.

While there are many reasons why an employee might decide to leave (salary and benefits often being top of the list), staff can also leave due to an unsatisfactory working culture that doesn’t provide them with enough autonomy and flexibility. With the current skills crisis to contend with, especially in the increasingly sought-after cloud technologies, employers simply cannot afford to overlook making improvements to their working culture. One effective way of doing this is by rethinking your leadership approach.

Employees Want A Leader Who Cares

We often make the mistake of assuming that our employees leave because they are better paid elsewhere. While this is true for some, it’s also true that people want to belong to an environment where their voice matters, their contribution is valued and where they can see clear career progression opportunities ahead of them. Taking up a better offer elsewhere is often the result of these expectations continuously not being met in their current workplace. (more…)

How a culture of wellbeing can help end ‘quiet quitting’

by Andi Campbell

 

Over the past few years, many factors—including the COVID-19 pandemic, inflation, supply chain issues and worker shortages—have presented challenges for both employees and employers. These challenging situations have led to poor mental health, burned-out employees, and increased stress levels in workplaces in nearly every industry. Fed up with the lack of support from their employers to compensate for additional tasks and time spent at work, employees have created their own system to achieve better balance and improve physical and mental health. Social media has sparked workers to turn to the internet to share their own stories of “quiet quitting.”

Quiet quitting, the act in which employees set clear boundaries without leaving their jobs, is a Gen Z-fueled trend that appears to have started on TikTok. The movement has gained traction on the platform, with #quietquitting gathering more than 20 million views. Many who support the practice label it a misnomer since it does not actually involve quitting, but instead, encourages workers to stop going above and beyond the work and time they are being paid for in their professional roles.

For employers, this new trend may be a cause for concern. Fueled in many cases by “American workers’ guilt,” employers have for many years benefited from the so-called “hustle culture,” which encourages employees to do more than what they have been asked to, work longer hours than needed, and assume their corporate identity as their personal identity, without added compensation. However, this glorification of non-stop work as a lifestyle has reached its peak, opening the door to quiet quitting and widespread pleas for support. (more…)

Embracing Diversity with a Growth Mindset

 

 

 

by Ko Kuwabara, INSEAD, and Jiyin Cao, Stony Brook University

 

Getting along with others is about more than just having things in common.

When it comes to falling in love, people – broadly speaking – tend to fit into one of two categories. Those in the first category think the best relationships are formed quickly, spontaneously and organically. Fireworks and instant chemistry are par for the course, while trying to “make it work” is a sure sign that the relationship perhaps isn’t meant to be.

Individuals in the second category place less of an emphasis on natural compatibility and reject the notion that it’s only true love if you don’t need to work for it. They think of relationships as muscles that can grow and stretch with the right recipe of effort, care and compromise. Even if two people don’t click immediately, they can cultivate a bond by setting differences aside, attending to mutual needs and committing to each other.

Those in the former group are likely to have a fixed mindset when building relationships, where the basis of compatibility is natural chemistry or whether you click effortlessly. Meanwhile, those in the latter group often have a growth mindset and believe that compatibility can be nurtured over time. And while neither approach is necessarily better than the other, possessing a fixed mindset can hold people back from interacting with those who are different.

Extending these concepts to the workplace, our research with co-authors Soomin Cho and Paul Ingram investigates how differences in people’s beliefs in the nature of relationships – what we call lay theories – affect how they foster connections with dissimilar individuals in a professional environment. This has crucial implications for diversity and inclusion in the workplace.

Interactions in diverse teams

Workplace interactions often require people to establish relationships with others from diverse backgrounds. These differences can be surface-level or demographic qualities – such as race and age – as well as deep-seated, dispositional attributes including values, attitudes and psychological traits. Although it’s vital to get along with people who look different, it’s perhaps more challenging to achieve compatibility with those who think differently. Indeed, the full benefits of building cross-cutting ties across demographic boundaries can be curtailed if employees continue to favour those with similar deep-level attributes. (more…)

The communication, empathy tactics you need to conquer ‘quiet quitting’

 

 

By Tom Starner

There are plenty of theories floating within the HR universe about what “quiet quitting” really means: Is it a new phenomenon that emerged in the wake of the COVID-19 pandemic, or has this employee behavior been around forever under the guise of low-level performance?

Simply, dictionary.com defines “quiet quitting” as the “methods of reducing productivity or the amount of work one performs.” This definition describes that it can be driven by several factors, including “worker dissatisfaction, burnout, disengagement and the trend of deprioritizing work in favor of other aspects of life.”

Several recent surveys have gauged just how deep quiet quitting goes—and shed light on what HR should (and should not) be doing to tame this trend.

For example, Grant Thornton, the accounting and advisory firm, surveyed more than 5,000 U.S. employees this year and found that 49% are disengaged. These employees do not recommend their employer to friends and family as a great place to work; don’t see working at their current employer in six months’ time; and don’t feel inspired by their company to perform at their best.

“We estimate that the 15% with the lowest engagement score are actively disengaged and can be safely called ‘quiet quitters,’ “says Tim Glowa, principal, Human Capital Services at Grant Thornton.

Understanding the data around this trend is an important element for HR leaders looking to combat it. According to the Grant Thornton research, of the identified “quiet quitters,”:

  • 61% are female;
  • 42% are actively looking for another job;
  • 36% are millennials, 34% are Gen X, 21% are Boomers and 7% are Gen Z; and
  • 50% are customer-facing.

Alex Seiler, chief people officer at GHJ, a Los Angeles-headquartered accounting and business advisory firm, says these employees—and, importantly, their employers—need to be opening up the lines of communication to address what’s driving their disengagement. (more…)

Why science says employee recognition is vital

 

 

by Mark Wachen

Employees don’t just want recognition. Science says they need it.

Many workplace surveys consistently show that employee recognition and engagement programs help drive results, boost productivity and improve the workplace through benefits like lower absenteeism.

Behind these statistics, though, sits a deeper psychological benefit that transcends the workplace and aligns with human psychology. Believe it or not, your high school psychology class may have taught you a thing or two about how to lead an engaged team. Remember Maslow’s Hierarchy of Needs? Abraham Maslow’s theory of human motivation, published in 1943, holds that humans have five basic needs: physiological, safety, love and belonging, esteem and self-actualization.

These start from the bottom and work their way up. Your physiological needs are food, water and sleep. Once you have achieved that, you want safety. Then you want love and a sense of community. Next comes esteem, both how you feel about yourself and your accomplishments, but also how others around you perceive and honor you. Finally, you have self-actualization, the ability to realize your personal potential.

All of Maslow’s needs directly affect employees. Companies satisfy the basic physiological need of humans by providing a paycheck that ensures they have money to afford a place to live with food on the table. The need for safety comes in the form of job security or stable contracts. Love and belonging are achieved by creating and fostering a strong workplace culture.

When it comes to esteem, employees can get it from their own sense of accomplishment from a job well done or from the praise of their colleagues and bosses. (more…)