Reports SMB workplace resources - Page 1 - Workest https://www.zenefits.com/workest/reports/ Workest Fri, 20 Jan 2023 00:39:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.2 https://www.zenefits.com/workest/wp-content/uploads/2021/01/cropped-android-chrome-512x512-1-32x32.png Reports SMB workplace resources - Page 1 - Workest https://www.zenefits.com/workest/reports/ 32 32 How to Help Your Sleep-Deprived Employees Stay Awake on the Job https://www.zenefits.com/workest/how-to-help-your-sleep-deprived-employees-stay-awake-on-the-job/ Fri, 20 Jan 2023 00:39:01 +0000 https://www.zenefits.com/workest/?p=19774 Sleep deprivation among workers is too harmful and costly for employers to ignore. Try these strategies to help your staff get the sleep they need.

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The American Academy of Sleep Medicine (AASM) says adults should get between 7 and 9 hours of sleep each night if they want to be as healthy, productive, and alert as possible during the day.

But based on sleep data from The Good Body, 35% of Americans are getting less than the recommended number of hours per night.

In fact, according to Study Finds, a research reporting site, Americans are getting less and less sleep a year and having more difficulty falling asleep quickly. And those in the study who are getting enough sleep described their sleep quality as poor.

Sleep is vital because it allows the body to rest and recover for the next day’s activities, say health experts.

If sleep is so critical to everyone’s well-being, why aren’t more people getting enough of it?

Part of the answer lies in the amount of time Americans spend working. An American Time Use Survey (ATUS) shows that U.S. workers are swapping sleep time for work.

Of the 124,000 people surveyed, those who slept 6 hours or less worked 1.55 more hours on weekdays and 1.86 more hours on weekends and holidays.

Employers may want to pay close attention to these statistics because the U.S. workforce has a fair number of people dealing with sleep deprivation.

Adults are getting less sleep than needed

Reports differ on how much sleep people are getting on average at night. But based on data from SingleCare, people get fewer than 7 hours of sleep each night.

The Centers for Disease Control and Prevention (CDC) also place the number at fewer than 7 hours in a 24-hour period. And data from myriad sources show that some adults get fewer than 6 hours of sleep a night, while others struggle to get as little as 5.5 hours a night.

With a significant number of adults not getting enough sleep, the CDC has declared sleep deprivation a “public health problem.”

Why does sleep matter for employees?

If workers are “falling asleep at the wheel,” the problem could be more serious than employers think. As the statistics below show, people who don’t get enough sleep — or get too much in some cases — are at risk for developing certain chronic illnesses and having productivity issues on the job.

Health risks

SingleCare compiled these statistics on sleep-related health risks:

  • Sleeping less rather than more than 7 hours a night increases the risk of obesity.
  • Less than 7 hours of sleep and more than 9 hours of sleep increases the risk of diabetes.
  • People who sleep fewer than 6 hours a night are 20% to 32% more likely to develop hypertension than those who get 7 to 8 hours of sleep a night.
  • People can reduce up to 19% of car crash injuries by not driving under the following conditions: while drowsy, after having fewer than or equal to 5 hours of sleep, and between 2 am-5 am.
  • While fewer than 7 hours of sleep and more than 9 hours of sleep are associated with a higher risk of death, longer sleep periods pose the highest risk of mortality.

Sleep deprivation is known to cause these symptoms:

  • Less energy
  • Daytime sleepiness
  • Irritability
  • Mood changes
  • Cognitive setbacks
  • Memory lapses
  • Poor decision-making
  • Shorter attention span

One note of caution: Sleep deprivation may not be the only cause of these symptoms.

Work-related risks

Work may not be thought of as a source of sleeplessness, but pressures from conditions in the workplace can rob employees of much-needed sleep.

The National Center for Biotechnology Information (NCBI) released these statistics on “psychosocial and job factors” that interfere with workers’ sleep:

  1. Lack of control. People without any control over their daily work routines lose 2.3 minutes of sleep a night.
  2. Time-based pressures. People who feel stressed out from dealing with employers’ unrealistic expectations about time sleep 8 minutes less per day than other workers.
  3. Irregular hours. People whose work hours are irregular lose 2.7 minutes of sleep on average per day compared to those who work regular hours.
  4. Commuting. People who spend between 30-60 minutes commuting one way to work sleep on average 9.2 minutes less a day compared to those whose one-way commute is 0 to 15 minutes. Workers with a longer commute, more than 60 minutes one way, sleep an average of 16.5 minutes less than those with short commutes.

Another note of caution: A serious case of sleeplessness could be a sleep disorder, which sometimes needs attention and treatment from a sleep expert.

What are the characteristics of a sleep disorder?

Sleep disorders are generally described as a group of chronic sleep conditions that negatively interfere with the quality of people’s lives. The quality and quantity of sleep people say they’re getting may be poor or they’re unable to function properly during the hours that they’re awake.

The Third Edition of the International Classification of Sleep Disorders lists 7 categories of disorders as:

  1. Insomnia, particularly chronic sleeplessness.
  2. Sleep-related breathing disorders, including obstructive sleep apnea and snoring.
  3. Central disorders of hypersomnolence, which include idiopathic hypersomnia and narcolepsy.
  4. Circadian rhythm sleep-wake disorders, including jet lag and delayed sleep-wake phase disorder.
  5. Parasomnias, such as sleepwalking, rapid eye movement (REM) behavior disorder, and sleep paralysis.
  6. Sleep-related movement disorders, like restless leg syndrome.
  7. Other sleep disorders.

According to SingleCare, a healthcare professional can diagnose a sleep disorder after a person has a thorough medical examination.

Sleep disorders aren’t uncommon

It’s very possible that one or more employees in an organization are struggling with a sleep disorder. In a 2021 SingleCare survey, 1/3 of respondents were diagnosed with a sleep disorder.

SingleCare highlights the results of other studies, which show that:

  • 70 million Americans have chronic sleep problems.
  • Sleep disorders affect 50 to 70 million adults in the U.S.
  • Obstructive sleep apnea affects 25 million adults in the U.S.
  • 30% to 40% of adults in the U.S. report experiencing insomnia symptoms each year.
  • 48% of Americans report snoring during the night (ASA, 2021).

Although binge-watching TV episodes or online programs could hardly be classified as a sleep disorder, it causes 88% of American adults to lose sleep.

Sleeplessness causes lost revenue due to lost productivity

A lesser-known problem with sleep deprivation may be the high dollar cost it generates in lost productivity and healthcare treatment.

Fatigue, a consequence of sleep deprivation, costs employers $136.4 billion a year in lost productivity, according to a recent report by BetterUp.

Fatigue, a consequence of sleep deprivation, costs employers $136.4 billion a year in lost productivity, according to a recent report by BetterUp.

In fact, employment specialists estimate that individual employers pay about $1,967 per employee each year in fatigue-related losses in motivation and productivity, and in healthcare coverage.

The following data from SingleCare also lays out the high cost of sleeplessness:

  • The U.S. loses up to $411 billion a year due to insufficient sleep — the highest loss in the world.
  • Sleep deprivation is known to contribute to the 100,000 deaths that medical errors cause in U.S. hospitals each year.
  • The cost of in-center sleep studies ranges from $500 to $3,000, and in-home sleep tests cost on average between $300 and $600.
  • Treatment for insomnia, which includes a generic sleeping pill and behavioral therapy, costs upward of $1,500 per year.

Since sleeplessness is costly when it comes to health and productivity, employers can learn how to step in and help resolve the problem.

What can employers do to help employees get enough sleep?

BetterUp has a virtual platform dedicated to coaching employees about getting enough sleep.

The company also recommends that employers help workers overcome sleep deprivation by:

  • Promoting sleep-friendly initiatives, like working under natural light, eating nutritious food, and exercising.
  • Encouraging employees to work only during work hours to keep them from blurring the line between work and personal time, to get them to complete their work during work hours if possible, and to help them cut down on the amount of time checking computers and smartphones for messages.
  • Offering flexible work schedules to accommodate employees’ work-time preferences, since some may be “night owls,” while others may be morning people.
  • Investing in learning and development programs that focus on getting enough sleep.

The CDC also recommends adjusting work schedules to allow employees to get the sleep they need. In addition, the centers recommend educating shift workers on how to improve their sleeping habits.

Harvard University’s Get Sleep platform says that employers can adopt policies and practices that promote employees’ good health. Recommendations include:

  • Installing bright lights onsite to foster mental alertness.
  • Offering healthy foods in vending machines to aid restfulness.
  • Providing access to exercise facilities (or offering health and wellness programs).
  • Providing space onsite for naps.
  • Prohibiting coerced or mandatory overtime.

Employers can start resolving the problem of sleeplessness in the workplace by eliminating the NCBI’s psychosocial and job factors, which stress out workers.

The importance of taking the advice of sleep experts

As studies show, sleep deprivation is too harmful and costly for employers to ignore. By taking the advice of sleep experts, employers can maintain a workplace that not only promotes the benefits of getting a good night’s sleep, but also supports them.

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How Individual and Team Performance Tracking Have Changed: Here’s What You Need to Know https://www.zenefits.com/workest/how-individual-and-team-performance-tracking-have-changed-heres-what-you-need-to-know/ Mon, 02 Jan 2023 22:45:41 +0000 https://www.zenefits.com/workest/?p=19737 Tracking and measuring positively affect business practices, but it's about measuring and monitoring the right things in the right way.

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The old adage goes, “You get what you track. You do what you measure.” Tracking and measuring performance are ideas that have been embraced by almost every business across the globe. Yet, the problem persists in how we do those things.

Tracking and measuring positively affect business practices, but it’s about measuring and monitoring the right things in the right way. That’s why this article will help you understand how to track employees’ workloads and measure their efforts. With that in mind, we’re starting with individual tracking.

Individual tracking

The first element of tracking performance is tracking individual performance. When it comes to personal effectiveness, there are three distinct ways you can gauge performance.

Time invested

Time invested is one of the first metrics established when it comes to individual performance tracking. This concept basically asks the following question: “How much time did you spend doing the task?”

This was how things were done throughout the first and second industrial ages. You had factories, and everyone employed in the factory had their station. The people were at the station for 8 hours, which was their time invested. There wasn’t much you could do to increase your output except increase the time invested. You would be a part of the larger process and do your part, which lasted X minutes.

There wasn’t a way to hack that process to improve your productivity. To increase productivity, you needed to increase the hours invested in the process.

Most of the tracking moved from the time invested to the task done.

Task done

The task done was the evolution of tracking performance. How we operated changed with how our industries functioned and as new fields and technologies emerged.

Many companies’ employees are no longer required to work 8 hours a day. They have to accomplish their tasks, and they can do so in as many hours as they wish.

Suddenly, technology sped up the processes. It was no longer about the time invested in work but about doing the complete task.

We can see this in the modern workplace. Many companies’ employees are no longer required to work 8 hours a day. All they have to do is accomplish their tasks, and they can do so in as many hours as they wish. It’s about accurately completing the job by a deadline, not spending a certain amount of hours on it.

However, this form of tracking also had its problems, and that’s how we came to, “Did I do my best to….”

Did I do my best to…

The “did I do my best to…” way of tracking was formed because people couldn’t measure specific tasks either with “time invested” or “task done.” A good example of this issue is one’s ability to be a good manager or a good leader.

It’s pretty difficult (or almost impossible) to measure a leader’s effectiveness by tracking their time invested or tasks completed.

  • “I spent 5 hours talking with my team and, therefore, I’m a good manager” doesn’t work.
  • “I held a team meeting and a 1-on-1 session and, therefore, I’m a good manager” doesn’t work either.

Those two ways of tracking performance track quantifiable performance. But the “Did I do my best to…” approach to monitoring performance tracks qualitative performance. This makes it excellent for tracking performance in areas where you need to measure the quality of the task instead of working to quantify it.

Using all three to track performance

A combination of all three of these should be used in your organization. You should analyze the positions in your company and use the tracking methods that suit the job the best. If you’re having someone work at the factory floor assembly line, it won’t make that much sense to use “Did I do my best to…” to track performance.

So adapt your individual tracking methods to your employees’ positions and, if you need to, combine different tracking methods.

Team tracking

Once you have a way to track individual performance, you now need to figure out how to ensure that all of the individuals work together as a team to achieve more—to develop synergy.

Pat Riley, back at LA Lakers, had the same problem.

The case of the LA Lakers

Back in 1986, Pat Riley was the head coach of the LA Lakers basketball team. He had some of the most talented players in the history of basketball, but somehow, he just couldn’t get them to play as the best team. After a couple of losses with the “most talented players ever seen in basketball,” Riley knew he had to change something.

Riley created the Career Best Effort program and started to track players’ performance using it. The system took note not only of the individual performance of players, such as rebounds or the number of points scored, but also of team effort plays, such as:

  • Helping a team player when the opponent went past them
  • Putting themselves in the way of a foul
  • Jumping for a loose ball

The system worked for the LA Lakers, and they won the NBA championship back to back, in 1986 and 1987.

Combining the best people with the best system

Achieving great success with your team means having great team members and tracking their performance. Still, you also know how to create metrics to track the teams’ performance.

You will need great team members and track their performance the right way individually, but you also need to create team metrics that will help the entire team thrive.

It’s about creating a team that will sometimes sacrifice their personal success for the team’s success. Pat Riley knew he had A-list players, but he needed to figure out how to make them work together as a single team with one purpose—winning an NBA championship.

Your company has the same goals in front of you and your team—achieving our objectives and hitting our goals. To do so, you will need great team members and track their performance the right way individually, but you also need to create team metrics that will help the entire team thrive.

If you have individuals who thrive in their performance but a team that’s failing, is that really beneficial for your business? The true goal is to combine the team’s success with the individual’s success and then find a way to converge those two things like they’re the same thing. That way, your team members will engage with the goals in front of them and have ownership over the process and the results that come out of it.

That’s how you unite team members around a common goal.

Track both individual and team performance

Tracking and measuring are among the things that seem so easy on the surface. Still, once you get to the nitty-gritty details of it, you find out just how complicated it is. In this article, we presented the three ways how you can track individual performance:

  • “Time invested”
  • “Task done”
  • “Did I do my best to…”

We also used the example of the LA Lakers as a way to track the team’s performance.

If you need to find more information about tracking and measuring, we suggest you read How to Automate Time and Attendance guide in our blog section.

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Are Training Evaluation Forms the Best Vehicle for Thorough Employee Feedback? https://www.zenefits.com/workest/are-training-evaluation-forms-the-best-vehicle-for-thorough-employee-feedback/ Fri, 30 Dec 2022 22:57:18 +0000 https://www.zenefits.com/workest/?p=19721 Gathering training feedback has multiple core objectives, and it's essential that all stakeholders involved in Learning and Development (L&D) are aligned on those goals.

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It’s the end of a long day of training. Employees are excited to go home or maybe head to happy hour. However, before letting them go, you need to place a final piece of the puzzle to wrap up a great training: feedback. While it might not be the most popular part of the day, it’s a critical one.

  • Should you have employees fill out training evaluation forms at the end of their training?
  • Is it the best way to gather feedback?

Before answering these questions, we need to align on what exactly we’re hoping to accomplish. Why would we want to gather feedback in the first place? If we don’t have alignment there, training evaluation forms might not be an effective use of your employees’ time.

Why gather training feedback

Gathering training feedback has multiple core objectives, and it’s essential that all stakeholders involved in Learning and Development (L&D) are aligned on those goals. This is particularly important given that there are two perspectives on the success of a given training:

  • The employee’s
  • The company’s

While they may vary from organization to organization, the objectives should generally include the following.

Confirm employees found the training met its stated objectives

Employee perception of the efficacy of training is a critical gauge of whether the instruction will have an impact. While it’s possible for training to be effective without employees thinking it was, in general, this will be a critical piece of the puzzle for determining if the training was adequately designed to meet the objectives.

Success starts with clearly defined objectives for feedback gathering.

Employees must be clear on the specific training objectives and outcomes before participating. A wide range of responses on this topic may indicate the issue was not with the training itself but with the communication to employees about the training program’s goals.

Identify areas of improvement

Training feedback should always seek to identify ways to improve the training. Were there topics that needed more focus? Less? Was the training sufficiently interactive? Was the pre-work effective?

Depending on the training topic, feedback gathering should have a heavy focus on identifying ways the training can be more effective, particularly for recurring programs that are run frequently.

Provide data for measuring training efficacy

The evaluation form must ask questions like:

  • How confident did you feel doing X before the training?
  • How confident do you feel now that you’ve completed the course?”

These questions can provide compelling data points for demonstrating the training’s effectiveness. Now, it’s important to remember that this only considers the employee’s subjective perspective, so additional metrics that independently demonstrate business impact may be needed depending on the training.

For example, sales training focused on effective negotiation skills should consider both the employee’s perspective on the improvement of their abilities as well as the impact on sales negotiations over a predefined period following the training.

Building a culture of trust around feedback

At this point, there’s alignment around exactly what we want to learn from employee feedback. Our next consideration needs to be: how can we ensure that employees feel comfortable providing genuine and honest feedback?

A major potential pitfall of training evaluation forms is feedback from employees who feel they need to say what they think the company wants to hear, not what they genuinely think.

In fact, in 2021, Gallop found that employee engagement dropped for the first time in over a decade. Between the impact of the pandemic and uncertain economic conditions, feedback gathering is both more challenging and more important than ever. However, building trust with employees is a critical prerequisite for gathering meaningful feedback. Without trust, feedback will be generic and generally unhelpful.

Employees are far more likely to put effort into providing genuine and detailed feedback if they can count on their responses being kept anonymous and if they believe that the company genuinely intends to take action on their feedback.

Forbes suggests a lot of great tactics for developing a culture that promotes honest feedback, all of which are aimed at building trust. In short, employees are far more likely to put effort into providing genuine and detailed feedback if they can count on their responses being kept anonymous and if they believe that the company genuinely intends to take action on their feedback.

Make sure to communicate early and often about the nature of the evaluation form and how the data will be used to make sure employees feel more confident that their privacy will be respected and that action will be taken based on their feedback.

What’s right for your business?

So, you’ve agreed on why you’re going to ask for feedback. You’ve also worked to foster a culture of trust around feedback. Is a training evaluation form delivered at the end of a training session the right tool? The short answer is: experiment and find out.

When gauging the efficacy of a feedback process, the key questions are:

  • Is this a representative sample of the training participants?
  • Did the open-ended feedback provide meaningful and compelling data points that suggest employees felt comfortable sharing their thoughts?
  • Did the mechanism provide the data needed to accomplish the feedback process’ objectives?

If the answer is ‘no’ to any of the items above, you may need to consider alternative feedback options like live interviews, or you might need to reevaluate the feedback process to improve its efficacy. Make sure to always leverage evaluation form & survey best practices to write compelling questions.

When you want to improve training evaluation forms, be aware of the most common challenges, which we will discuss below.

Small sample size

Many organizations struggle with low response rates on evaluation forms. If you aren’t able to deliver them to a captive audience (i.e., employees sitting in a conference room at the end of a live training session), try the following:

  • Be Concise – eliminate all unnecessary steps & questions
  • Be Timely – deliver the evaluation form as close to the training event as possible
  • Involve Managers – make managers your champions and remind them why this data will help their teams improve
  • Show Action – prove to employees that feedback doesn’t end up in a void – demonstrate action that came directly from their feedback

Lack of honest feedback

Concerns that employees don’t feel comfortable providing genuine feedback are common. Potential remedies include:

  • Making the evaluation fully anonymous
  • Ensuring data will be fully anonymized before being shared
  • Clearly communicating exactly how the data will be used and who will see it
  • If needed, consider engaging an independent and impartial third party who can anonymously tabulate and compile the information

Feedback objectives not met

If you can’t accomplish the feedback objectives outlined above, you may need to revisit the content of your training evaluation forms to see if they can be improved.

  • If employees weren’t answering a question as intended, could the question be more straightforward?
  • Can you adjust the questions to provide more meaningful data—i.e., something like removing a ‘neutral’ option and forcing an ‘agree’ or ‘disagree’?
  • Do additional questions need to be added?
  • Are survey best practices not being followed? For example, did the evaluation form include something like “Did the training provide sufficient detail and an opportunity to put that detail into practice?” (those are two separate questions, making the question confusing to the employee and will not provide clear results to the company)

There is no one-size-fits-all approach to gathering feedback on employee training.

Experimentation is key

At the end of the day, there is no one-size-fits-all approach to gathering feedback on employee training. However, success starts with clearly defined objectives for feedback gathering. From there, L&D professionals or business owners can refine the strategy & content of their evaluation forms and ultimately decide whether they are an effective tool for meeting the business’ feedback objectives.

An effective feedback loop ensures that employee training is making a difference. It also provides critical tools for measuring that impact on employee engagement and overall business performance.

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HR Knowledge: Is the Balanced Scorecard Still Relevant? https://www.zenefits.com/workest/hr-knowledge-is-the-balanced-scorecard-still-relevant/ Fri, 30 Dec 2022 01:53:09 +0000 https://www.zenefits.com/workest/?p=19713 One of the great features of a Balanced Scorecard is its ability to be personalized and adhere to different agencies.

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Human Resources have a broad range of tasks they perform to keep a business afloat. Just as any department benefits from the organization of its goals and assignments, HR retains the responsibility of having an advanced method of objective management.

Luckily, Robert Kaplan and David Norton developed the Balanced Scorecard (BSC) three decades ago. Balanced Scorecards were designed to help managers define and track performance that correlates with the business requirements and strategies. Outline these metrics as follows:

  • Financial measures
  • Customer experience
  • Employee performance
  • Educational goals
  • The overall quality of each category

A BSC is a visual representation of an organization’s strategy, which allows managers to view and focus intently on objectives and timeframes. Over the years, it has become a fundamental part of companies’ frameworks.

Many companies widely use the Balanced Scorecard today—even after over 30 years. Its efficacy still proves to be a valuable tool for all HR and managerial departments to obtain a refined company.

Align the business with its vision

Businesses that use the BSC can easily analyze aspects of the company that are contrary to its visions and mission statements. By visualizing a list of issues from within the company, it becomes a matter of clarifying each downfall to obtain better results.

A company’s BSC, in this aspect, will list the mission statement first. The BSC will outline and define the gist of how to achieve the mission in three or more statments.

If it is the mission of a company to provide ultimate customer satisfaction, they can use their BSC to enforce changes. They’ll be able to notice customer ratings are down and compare this against all the company’s other assets. This helps them get to the bottom of what keeps them from providing their company’s promise.

A company’s BSC, in this aspect, will list the mission statement first. The BSC will outline and define the gist of how to achieve the mission in three or more statements. Under each fundamental facet of realizing the mission statement, there will be quantitative lists of:

  • Obtaining defined success
  • Categories of finances
  • Levels of represented and required education
  • Various departments’ inner workings

By being clear about what a company is doing now and what they need to do in the future, the organization will have a better opportunity to redirect its business toward successful ventures.

Execution of a balanced scorecard strategy

Companies using the BSC can track a vast assortment of metrics and measures driven toward success. A multi-faceted company with various divisions, employees, customers, and partners will do well to have this organization in place to plan its strategic methods. In this way, the BSC compiles all of the individualized data together so it can be reviewed in a comprehensive matter. The company can then conquer the issues by reviewing the collected information from top to bottom.

You should phase out inefficient strategies over time. A BSC can provide reminders of what is or isn’t the best strategy for the time. In cases where a previous approach didn’t work, HR will be able to see and understand what went awry and be able to address it and protect the company from these identified mistakes in the future.

If a company is beginning to lose profits, a BSC provides strategies for each department to remedy this downfall. Strategic methods are linked to objectives. These targets are linked to projects needing to be deployed to keep future underperforming sectors from falling through the cracks. When a BSC allows HR to link and compare each necessary strategy change, they can take the crucial steps to redirect attention to the more effective approaches.

Response to changes

Use the BSC to predict future changes and outlooks that a company needs to upgrade. Management can respond to potential issues before they become a reality and hurt the business.

Using a BSC can prevent a domino effect. If a company notices performance is lacking in their employees, it may be time to implement training and educational workshops to get ahead of the potential burnout. When staff is freshly knowledgeable about techniques that help their job performance, it results in:

  • Improved employee retention
  • Raised customer satisfaction
  • Increased profits

A BSC measures how changes can be addressed and keep threats from creating considerable financial, customer-minded, and employee-focused repercussions. Analysis of the entire perspective of the organization helps avoid neglecting areas that need attention now and in the future.

Transparency provided by balanced scorecards

Balanced Scorecards are easy to reproduce and publish for the entire organization to have for reference. This lets the company as a whole understand the direction and strategies for the path they’re following. It doesn’t just stop at the company, either. These published plans can be advertised to partners, customers, and the community so they know what steps are being taken to perfect this business.

Government agencies created versions of Balanced Scorecards specifically to provide transparency to their citizens. Exxon Mobil practiced using a BSC. This multi-million-dollar company was featured as a case study in “The Strategy-Focused Organization,” a book released by Robert Kaplan and David Norton.

Team members should be able to thoroughly account for their department’s strategies and goals. A BSC demolishes the wall between management and employee and provides an open floor for suggestions, teamwork, and clear communication. This helps team members realize the company’s values and understand their roles better to raise productivity.

Customization

Brainstorming about the internal workings and the views of the business will help create a well-rounded framework in a simple form for everyone to follow.

One of the great features of a Balanced Scorecard is its ability to be personalized and adhere to different agencies. A BSC can be considered a gateway to achieving whatever goals companies have in mind for business optimization.

  • Customer-forward companies can create a BSC to drive customer satisfaction
  • Data-centric companies can generate a BSC to focus on data mining techniques and align with business requirements

A company should ask important questions related to their overall desired accomplishment. They should consider their:

  • Mindset
  • Values
  • Competencies
  • Weaknesses
  • Leadership and workforce behaviors

The validity of the BSC based on these findings will make sure the framework is operational. Brainstorming about the internal workings and the views of the business will help create a well-rounded framework in a simple form for everyone to follow.

You will typically view classic BSCs as a simple flowchart. However, you can customize the BSC’s graphic formats differently depending on your company’s desires. Therefore, we recommend that each organization customize its version to stay on brand and true to its connection. Balanced Scorecards should be easy to understand, modify, and publicize.

The key to success

While the Balanced Scorecard is an older framework, it is still very relevant and useful. As a matter of fact, it is still one of the highest performing frameworks still in use to this day, having made the list of top 10 most popular tools several years in a row. A BSC provides focused results. Choosing to not involve all areas of the company will render the tool ineffective. Meet the overall objectives through the:

  • Application of meaningful measures
  • Outline of strategic methods
  • Accomplishment of goals
  • Alignment and optimization of business missions

The key to success is strategic planning, attention to detail, implementation of changes, and the execution and maintenance of them all.

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Handling Sexual Harassment Allegations with Remote Teams https://www.zenefits.com/workest/handling-sexual-harassment-allegations-with-remote-teams/ Wed, 28 Dec 2022 21:59:51 +0000 https://www.zenefits.com/workest/?p=19683 The efforts of HR, employers, and employees collectively can slow the instance of digital sexual harassment and keep the company afloat with excellent moral standards and failsafe methods of prevention, reporting, and investigation.

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Even before the pandemic swept the globe, 17% of US employees worked in a fully remote location. During COVID-19, this percentage grew by 27% as workplaces explored remote or hybrid work to alleviate health and childcare concerns. As it would turn out, working remotely significantly increased job satisfaction and production among employees from every sector. In light of this researched and experienced news, many companies decided to maintain WFH (work-from-home) options.

Businesses and HR departments still retained the effort to maintain employee decorum and policy obedience outside of the onsite office. Keeping the company culture and professional code of conduct continues to be necessary even from home. Nevertheless, as Americans adapted their professional lives to the remote transformation, so did their more unacceptable behaviors.

Sexual predators aren’t biased toward in-person attacks. They only acclimated themselves to the online environment. They began sending sexually explicit emails and comments and taking screenshots without consent. Since this behavior is occurring in a working environment, it is still considered workplace sexual harassment. Treat this behavior as it would if it occurred in the office.

Prevention of harassment

Businesses need to understand how digital sexual harassment occurs and how to handle these situations accordingly. The best first step is executing means of prevention from sexual harassment in a virtual workplace.

Harassment training and policy updates

Help employees by teaching them what constitutes virtual sexual harassment. This may require policy updates to redefine the meaning of “workplace” and an all-encompassing definition of sexual harassment.

Updating policy and procedure is especially necessary when it outlines any in-person communication of the matter at hand. A virtual environment should not be an excuse to prevent an employee’s mandated reporting and ethical conduct.

Creating a culture where employees look out for each other is a great way to cultivate an anti-bullying, anti-harassment working environment.

Training should be provided regularly to keep employees abreast of existing terms and changes in the workplace. Apply anti-harassment training to every employee regardless of WFH status. In the case of remote work, sexual harassment prevention training should showcase what it looks and sounds like from a virtual point of view.

To provide a sense of community in the workplace, it’s a good idea to incorporate a conference call via Zoom, Skype, or another virtual team meeting domain. Creating a culture where employees look out for each other is a great way to cultivate an anti-bullying, anti-harassment working environment.

Make it easy to speak up about sexual misconduct by developing safe reporting channels. This could mean controlling a phone number strictly designated for anonymous reporting, a private email address, or a website to provide anonymous accounts.

Training should include a testing process at the end where scores are tallied in secret, and an employee must receive a passing grade before obtaining specific incentives.

Reinforce civility and company vision

Even if the home is the new workplace, an employee should be repelled by harassment and possess basic morals and ethical standards. Every company should have a vision and ethics that employees are expected to honor. Integrity should be one of many qualities of a business and its workforce.

Encourage employees in leadership roles to set an example of anti-harassment from the top of the ladder. They enforce company values and behave as though they live by them. They should always take accusations seriously and show concern for the matter in ways that establish zero tolerance for sexual harassment. Other employees will:

  • Take heed of leadership’s sense of urgency in these matters
  • Discourage heinous acts
  • Encourage the reporting of sexual misconduct

When hiring a new employee, explain and reinforce solid expectations throughout their career. Do this during the application of a daily check-in or email reminders. A communal daily check-in also incorporates a healthy working relationship between employees as a type of icebreaker.

Implement simple practices to prevent harassment

Host daily check-ins or video conferences. These short meetings aren’t a punishment, and employees shouldn’t view them as one. This time should feel like a momentary break to alleviate mental stress and give the team chances to share concerns and provide feedback wherever necessary.

Social conduct should be at the top of everyone’s mind as they perform their regular duties. This means encouraging workers to continue their work as if they were in the office. Great codes of conduct to follow include:

  • Adhering to dress code regulations
  • Creating an office space in their homes for virtual meetings
  • Eliminating distractions

Remind employees to check their surroundings before activating their cameras to prevent any displeasing personal items from being displayed. Inform workers about how to correctly use their technology and the inappropriate ways in which communication is being executed.

Implementing these minimal efforts allows for fewer excuses for lack of focus and embarrassing mistakes.

When you’ve taken preventative action, and it has failed, you must take immediate and earnest action.

Address harassment allegations immediately

When you’ve taken preventative action, and it has failed, you must take immediate and earnest action. Handle harassment complaints in a remote, private environment, just as you would any other formal complaint. Merely amend the process of handling a sexual harassment allegation to suit the WFH work style. It should never be an excuse for not dealing with these serious issues.

First, the victim needs to hear from HR that they will not be faced with retaliation or punishment if they are found innocent in all aspects. The affected employee should know when to report again if they suspect their assailant is trying to even the score. Since 75% of sexual harassment goes unreported, they must have the reassurance that they made the right decision.

A serious investigation must get underway, complete with thorough interviews of all parties. Keep these investigations confidential and classified to everyone except the HR liaison assigned to the case, lawyers, and anyone on a need-to-know basis. Conduct a virtual meeting with the accused and the accuser separately and listen attentively to each claim.

Documentation is everything. In a virtual environment, some virtual meeting tools use recording provisions which may be helpful in these situations. A recording can be:

  • Saved
  • Kept safe under password protection
  • Played for investigative and corroboration purposes

Since there is a difference in the workplace environment, it is necessary to make do while still upholding privacy policies.

Potential ramifications

After the investigation has concluded, your designated team will make a collective decision about the factual basis and severity of the harassment and make arrangements for future steps. In very minor cases, some antagonists undergo:

  • A probationary period
  • More mandatory training
  • Other avenues for reprimanding

The worst-case scenario remains the same – termination, fines, and lawsuits.

The victim should have access to free counseling and recommendations for legal services. Follow up with them in the near future and ensure they are taking steps to be mentally and physically well.

Wrap up

An HR worker or small business owner needs to understand that even law enforcement cannot perfectly investigate every situation, let alone those that occur in a virtual environment. In remote work, it can be slightly more challenging to find and get down to the bottom of sexual harassment cases, but it is never impossible.

Much like office-place sexual harassment, online sexual harassment isn’t going to disappear in one fell swoop. The efforts of HR, employers, and employees collectively can slow the instance of digital sexual harassment and keep the company afloat with excellent moral standards and failsafe methods of prevention, reporting, and investigation.

 

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How to Recognize Employees the Right Way in Today’s Workplace https://www.zenefits.com/workest/how-to-recognize-employees-the-right-way-in-todays-workplace/ Wed, 30 Nov 2022 08:19:37 +0000 https://www.zenefits.com/workest/?p=19279 Find out what studies reveal about the types of employee recognition programs workers like and dislike — and common mistakes employers make in offering them.

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Employee recognition programs can either please workers or turn them off, studies show. But some business leaders think employers need to recognize workers today more than ever, with an ongoing pandemic, massive exodus from the workplace, general unrest in the labor market, and historically high inflation.

Why are some employers doubling down on offering recognition programs rather than cutting back? And what are studies revealing about the types of programs employees like or dislike and common mistakes employers are making in offering them?

It may be easier for big companies to offer all kinds of recognition programs and scrap those that don’t work. But the risk of offering the wrong recognition programs may be greater for your small business (SMB).

Employees want more recognition from employers

Workers may give some recognition programs the thumbs down. However, a new national report shows that employees want more recognition, not less.

The 1,347 employed adults in the Eagle Hill Consulting Job Well Done survey said that recognition programs make them go above and beyond their job responsibilities.

The 1,347 employed adults in the Eagle Hill Consulting Job Well Done survey said that recognition programs make them go above and beyond their job responsibilities.

However, these are just a small fraction of the employees’ responses.

More Job Well Done survey results

Employees think recognition programs should be more:

  • Frequent (38%).
  • Proactive (36%).
  • Widely shared across their organization (30%).
  • Easier for employers to offer (26%).
  • Free of bias (24%).

When recognized for their work, employees say they’re more likely to:

  • “Go the extra mile” on the job (53%).
  • Remain on staff (48%).
  • Support their team (43%).
  • Perform beyond expectations for customers (38%).

Most employees prefer being recognized through:

  • Gifts or cash (54%).
  • Time off (34%).
  • A thank you note or email (32%).
  • A reward program (23%).
  • Perks for experiencing opportunities, like tickets (22%).
  • Public recognition (20%).
  • Employee of the week or month programs (19%).

Employees say being recognized:

  • Motivates them (32%).
  • Makes work seem more meaningful (60%).
  • Reflects a supportive team (51%).
  • Offers career potential (29%).

More than 1/3 of employees say their employer has created new ways of recognizing them in the past year. That’s great news for employees who want employers to be more proactive about employee recognition.

Employers can use the Job Well Done survey as a blueprint for developing ways to appreciate workers. But there’s a major drawback in the survey results: employees say that only 1/4 of employers ask them how they want to be recognized.

Why not just ask employees how they want to be appreciated? Otherwise, recognition programs become a game of hit or miss.

When recognition programs go wrong

If employers didn’t know the value of showing workers appreciation, 80% of them wouldn’t have recognition programs. They know these programs can lower employee turnover rates and boost employee morale, for example.

But recognition programs fail when employers don’t capitalize on the benefits, according to CoreCentive, a global recognition and incentive company. Here are reasons the company says programs fail:

1. No transparency

All employees in your organization should understand how the recognition program works and be able to view it as fair and unbiased.

2. Unclear or no goals

Without clearly set goals, a recognition program will fail before it starts. Also, you won’t be able to track the program’s progress unless it has clear goals.

3. Mistaken rewards

Without knowing how employees want to be appreciated, the program could end up offering the incentives they don’t want. Employee engagement surveys and pulse polls can help you select the right rewards. The program will be ineffective unless workers are motivated.

4. Poor program promotion

Just setting up a program without constantly promoting it is a major mistake. To take advantage of the benefits a recognition program offers, promoting it must be a priority. Remind everyone in your organization of the program by promoting it in in-house publications, managers’ meetings, and all-staff meetings.

5. No follow-up

You’ll need a commitment from your entire team to make an employee recognition program work. Developing the program is just a first step. Management’s follow-up with action is critical. Also, leadership should set an example by regularly recognizing employees.

6. Inconsistency

Having some managers use the recognition program while others do not is the kind of inconsistency that can frustrate employees. Consistency, along with transparency and continuous promotion, helps employees see the program as fair. It also creates a culture of recognition.

7. Complicated process

The employee recognition program should be a quick and easy process to use. People are less likely to use the program if it’s too complicated. Recognition software can simplify the process.

You’ll want to avoid these mistakes so that your SMB can offer a recognition program that works for all your employees.

What are recognition ideas that SMBs can implement?

LinkedIn has no- and low-cost employee recognition ideas for SMBs. However, the social media platform recommends that you consider 3 things before setting up or adding rewards to your program:

  1. The events and behaviors you want to recognize.
  2. How much time/resources you have for running the program.
  3. How you plan to track the program.

Some no-cost ideas are:

  • Team meetings. Allow managers and supervisors 5 minutes at meetings to recognize their employees for their work.
  • Written praise. Send employees a handwritten note or email describing in detail why you’re recognizing their work.
  • Special occasion or event cards. Send employees birthday greetings, get well messages, or an acknowledgement of a family member’s birth or death with signatures from everyone on the team.

These are common recognition ideas, but they can be effective for employers on a tight budget.

Do workplace recognition programs work?

They’re successful enough in boosting performance, engagement, and productivity. Companies with recognition programs have 14% higher rates in these areas than companies without recognition programs.

Statistics show that 80% of employees report working harder when their performance is recognized.

On productivity alone, recognition makes employees happy — and happier workers are 13% more productive than unhappy ones. Also, 80% of employees report working harder when their performance is recognized, compared to just 40% who are plagued by a bad boss or fearful of losing their job.

The key is recognizing workers in ways they find meaningful. This may require scratching cookie-cutter giveaways for more personalized rewards, like tickets to an activity an employee enjoys or a donation to the employee’s favorite charity.

How can employers get recognition of employees right?

Workest asked business leaders for their insights on effective employee recognition programs. They include Israel Gaudette, CEO of Flawless SEO, Affiliate Marketer at IG Marketing Inc.; Marc Werner, CEO and founder of GhostBed; Jamie Aitken, vice president, HR Transformation at Betterworks; Michael Podolsky, CEO and co-founder of PissedConsumer.com; Arnaud Weiss, head of Strategy — Employee Journeys, at Lumapps; and Aaron Rubens, CEO and founder at Kudoboard.

Here are some of their responses and recommendations:

W: Are employee recognition programs merely nice-to-have gestures or do they have a real, measurable impact on your organization’s success?

Weiss: Deep inside each and every one of us there is a craving for recognition. This hunger takes its roots in our past. For thousands of years, humans were part of tribal societies, where being considered a valuable contributor to the group was a matter of life and death. This is probably why even today we long for recognition so much.

As a result, employee recognition programs have a direct impact on engagement and retention. As you probably know, it’s never been so hard for companies to hire and retain talent. In 2022, 44% of US-employed individuals were looking for a new job. There is more and more fluidity in the job market, and companies able to create a superior employee experience will win over others. Recognition is a core component of it.

W: Why do you think some recognition programs work and others don’t? Is the problem structure? Planning? Money? Company size?

Gaudette: I think the problem is that most companies don’t take the time to figure out what their employees really want. Most recognition programs are based on what the company wants and not what the employee wants.

Companies create a program, and then they tell their employees about it. The employees may or may not be interested, but since there isn’t much choice in the matter, they will usually participate for whatever reason — maybe because it’s easier than doing nothing, or maybe because they really want to receive whatever prize is being offered.

Aitken: Company recognition programs should be fair and accessible across the entire organization, otherwise it’s tough to adopt and employees won’t buy in. Whether it’s tangible rewards like gift cards, or recognition that doesn’t cost anything on a public forum like a company’s Slack channel, they are all meaningful forms of recognition.

When these programs fail, there is some level of disconnect between the people, performance, and rewards. Investing in employee engagement software allows companies to automate much of the reward distribution process, avoiding this problem altogether.

W: What programs work best based on your experience?

Podolsky: Experiential and compensatory rewards have worked best within our organization. We don’t make public recognitions such as employee of the month because this is not applicable within our type of organization.

The same concerns the growth rewards because growing and development opportunities are part of our beneficial package. Career moves are always welcome. Anyone within our team can change their role if they are eager to develop and improve the necessary skills.

Werner: The best way to thank and reward employees is to provide them with a sense of achievement. At GhostBed we treat our employees as part of our extended family, it’s what has worked for this 5th generation family business.

W: What recommendations or precautions would you give employers?

Rubens: Your program will fail if it is simply a last-ditch effort to keep employees from leaving your company or to make sure your top talent is happy. A successful recognition program has to take every single employee into account and be about THEM — not your bottom line.

When in doubt, ASK your employees. Do they feel appreciated? What parts of their work are going unacknowledged? Who are the unsung heroes of the organization? Then start building your program around uplifting them.

At Kudoboard, we have found that peer-to-peer recognition is particularly effective. Top-down approaches tend to favor the same key players and lay the responsibility at the feet of HR or managers. Instead, recognition that is embedded in the culture and is carried out by fellow employees means more to everyone and is more sustainable and scalable.

What’s your biggest 2022 HR challenge that you’d like to resolve

Answer to see the results

Remember to track the progress of the program

Remember to track your employee recognition program’s progress. You won’t know what’s working, what needs revising, or what needs overhauling without a metrics system.

LinkedIn recommends software programs for tracking like Microsoft’s Excel; Trello, a free tool; and guHRoo, its own platform.

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Will SMBs Thrive or Fail in this Inflation-Threatened Holiday Season? Here’s What Reports Show https://www.zenefits.com/workest/will-smbs-thrive-or-fail-in-this-inflation-threatened-holiday-season-heres-what-reports-show/ Fri, 04 Nov 2022 22:19:30 +0000 https://www.zenefits.com/workest/?p=18686 With inflation's impact, so many people, both buyers and sellers, are paying high prices for goods, commodities, and services. Spending could be tight this holiday season.

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It’s November. And your business is probably already gearing up for the holidays. If you have reservations about how well promotions and sales will do during this holiday’s inflation-threatened season, you have every reason to feel uncertain.

The holiday season — usually retailers’ most profitable time of the year — could be financially troublesome for businesses in 2022. Based on various reports, the U.S. is in, or is about to face, an economic downturn that could financially cripple some companies, especially small businesses (SMBs).

The economy, like the weather, is never a sure thing. Economic growth continues despite inflation. But the current economic conditions are drafting an unsettling picture of what SMBs can expect this holiday season.

Inflation is driving the overall economy

No one needs reminding that inflation is high. It’s now at its highest level in about 40 years — an astronomical 8.2% — and people are paying the price through the high cost of food, goods, services, and energy.

Here’s how the U.S. Bureau of Labor Statistics October Consumer Price Index Summary broke down the cost increases during the past 12 months, ending in September:

  • The all-items index (inflation) rose to 8.2%.
  • Adjusted all-items indices (minus food and energy) rose 6.6%.
  • Energy indices increased 19.8%, down from the 23.8% increase ending in August.
  • Food indices increased by 11.2%.

With so many people, both buyers and sellers, paying high prices for goods, commodities, and services, spending could be tight this holiday season.

What forecasters are predicting

Economic news flashes are like moving targets — don’t bet on them in the morning because they could flip by noon. But they also can help businesses prepare for the best or the worst of what’s to come this holiday season.

The Conference Board report

Where’s the economy headed in this last quarter (Q4) of the year? Downward, at least for now, according to a report from The Conference Board. Here are its predictions:

  • The economy will weaken and spread wider during the upcoming months.
  • A recession will kick in before the end of 2022.
  • Inflation will continue, possibly forcing more hawkish action from the Federal Reserve.
  • The gross domestic product (Real GDP) will hit the 1.5%-mark year-over-year in 2022 and grow slowly to 0% year-over-year in 2023.

The Conference Board disagrees with the view that the U.S. economy has been in a recession for months. It ruled out an earlier rise in the recession because of the tight labor market and slight upswings in the GDP in Q3.

Economic news flashes can help businesses prepare for the best or the worst of what’s to come this holiday season.

From here, the news on the economy remains in free fall. With inflation so high, the U.S. could be in what the Conference Board calls a “stagflationary environment,” or broad-based recession, by the end of this year and into 2023.

U.S. Chamber of Commerce

It’s probably no surprise that inflation is the number one concern across the globe. The quarterly Metlife and U.S. Chamber of Commerce Small Business Index found that the highest number of SMBs to date — 90% — are “concerned” about the impact of inflation on their organizations.

And of the 90% of SMBs, 54% are “very concerned,” a claim that just 31% of SMBs made in Q1 2022.

Tom Sullivan, vice president of Small Business Policy at the Chamber, said that SMBs felt confident about how their companies were doing in recent months. Still, inflation is eroding their confidence and ability to recruit and hire, invest in their companies, and grow as an enterprise.

After inflation, SMBs’ most significant concerns are:

  • Supply chain problems
  • COVID-19 safety protocols
  • Revenue
  • Rising interest rates

SMBs’ weakening confidence has extended to the U.S. economy. And 70% of them expect the economy to get worse.

Deloitte

In their Oct. 24 weekly global economic update, Deloitte reported on ongoing supply-chain disruptions. This means in-demand goods and parts will move slowly, causing long waits for SMBs, businesses in general, and consumers to receive them.

Specific categories in short supply are:

  • Labor
  • Cars and auto parts
  • Airplanes
  • Skilled pilots
  • Semiconductors
  • Copper inventories (used in construction, solar power, electric vehicles, etc.)

This imbalance between supply and demand for goods and services is pushing up prices. So, no relief from inflation is expected soon.

What’s your biggest 2022 HR challenge that you’d like to resolve

Answer to see the results

What SMBs can expect in Q4

Based on the Conference Board report for the upcoming quarters, businesses can expect to see:

  • A severely tight labor market, which could push up the unemployment rate from its current 5% to 4.4%.
  • Extreme labor shortages, especially in the service sectors.
  • Rising interest rates from the Federal Reserve.
  • Lower prices in the housing market.
  • A short and mild recession that the U.S. could recover from in 2023.

Meanwhile, inflation remains at an all-time high. Consumers and sellers will have to wait and see what actions the Federal Reserve, governments, and other market overseers will take to normalize the economy.

How SMBs are coping with the economy

When the chamber report asked SMBs what was more important, reducing inflation or avoiding an economic downturn, 59% chose reducing inflation over avoiding an economic turndown (41%).

SMBs also revealed how they’re handling the economy in the chamber report. They’re adjusting their business practices due to inflation by:

  • Raising prices (70%).
  • Taking out loans (40%).
  • Cutting staff (37%).
  • Lowering the quality of their products or services (31%).
  • Relying more on local suppliers than last year (51%).

Here are SMBs’ views on other economic-related issues in the report:

  • More (42%) rated their local economy as poor than as good (31%) for the first time since Q1 2020.
  • Most (61%) think the economy changes faster than it did in the past.
  • 40% are “very concerned” about the effect of rising interest rates on their businesses.
  • Fewer are concerned about COVID-19 this year, down from 23% in 2021 to 13%, as worries about the economy rose.

All the data points to a less-than-stellar holiday season for doing business. Still, a slow ride toward an economic recovery is possible in the upcoming months.

Will inflation mar this holiday season?

This year, inflation and escalating prices could change how consumers select and buy goods and services. Salesforce’s data collection on consumers could help you prepare for rises and falls in buying habits this season.

Inflation will likely drive down spending

Salesforce recognizes inflation as the force behind consumers’ decisions. The data it collects on consumers shows that:

  • In Q1 2022, the average selling price (ASP) rose by 11% in the U.S.
  • Next quarter, Q2 2022, the ASP increased by 7% in April and May, on top of the 17% rise in ASP for Q2 2021.

With a steady increase in prices, consumers are expected to buy fewer goods from fewer retailers.

Salesforce has more data to back up the reasons for inflation-driven unrest among buyers:

  • Double-digit surges in the cost of goods from a year ago continue to push up prices.
  • Costlier fulfillment and returns for goods are expected due to rising gas and diesel prices.
  • Inventory surpluses (along with shortages) are leaving businesses with too many products on their balance sheets.
  • Consumption is down, with 51% of consumers expected to buy fewer holiday gifts this year.
  • Consumer optimism is at its lowest since 1970, which means buyers are likely to cut back on discretionary spending.

The high cost of goods won’t guarantee how buyers spend their dollars. However, it is an indicator of what SMBs may experience this season.

Early in-person shopping is expected

There’s one guarantee when it comes to holiday shopping: buyers will spend money, but where, when, and how much is speculative.

The number one change in consumer behavior this year: Shoppers will start buying earlier

Here are a few predictions on how buyers may shop this season:

  • Shoppers will start buying earlier — this will be the number one change in consumer behavior this year — to avoid spiraling prices.
  • With physical stores now open after being closed due to the pandemic, more buyers will do their shopping in person rather than online.
  • 15% of U.S. shoppers and 7% of shoppers worldwide may not buy gifts at all this year.
  • Half of the shoppers worldwide (about 2.5 billion) will switch brands to buy from a competitor at a lower price.

With these predictions in mind, SMBs can adjust their promotion and marketing strategies to accommodate buyers’ needs.

Get ready for the holiday season

These tips can help you make the holiday season more profitable despite looming high inflation:

  • Don’t dismiss Amazon’s Prime days. You don’t have to be an Amazon seller or Prime member to get in on the mega-sale bonanza. Buyers shop on various platforms during Prime days for the best deals.
  • Avoid knee-jerk discounting. Instead of engaging too often and too early in discount price wars, focus instead on the exclusiveness, rarity, and high quality of your goods or service. Buyers will likely hold out until they can get the best deal for their money.
  • Start promotions early. Buyers are expected to start shopping early this season to snag the best prices, and you’ll want your goods or services on their gift list.
  • Be prepared to offer buy-online-pickup-in-store service. Cyber Week has increased the demand for this service from early November through the end of December. So, make sure your site is ready to handle the demand.

Salesforce offers a Holiday Planning Guide for Retailers. Click here for a copy.

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Which Jobs Are Likely to Become Extinct — and How to Prepare https://www.zenefits.com/workest/which-jobs-are-likely-to-become-extinct-and-how-to-prepare/ Wed, 12 Oct 2022 18:14:30 +0000 https://www.zenefits.com/workest/?p=18426 Find out which roles and sectors are declining in demand in the U.S. — and which could be extinct by 2042.

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As widespread layoffs continue to happen across the United States, we decided to take a look at which roles and sectors are dying in America, and which could be extinct by 2042. To do this, we interrogated 10 years worth of employment data from across the U.S.

Our research found that the natural resources and mining industry has seen the largest drop, with the number of workers within the industry falling by a third since 2012. In terms of specific roles, apparel manufacturers are the most likely to be jobless in 20 years time, with 35% less people working in the job than 10 years ago.

Miners and telecommunications workers have experienced the most loss after apparel manufacturers, with drops of 27% and 22%.

Religious/civic services and manufacturing have also taken a massive hit, finishing 2nd and 3rd on the list of industries with the lowest growth rates, with increases of just 4% and 7%, respectively.

The findings come following a mass layoff of workers within the tech sector, with 38,000 tech workers losing their jobs in 2022 so far. Tech giants including Netflix, Robinhood, and Groupon are among a list of dozens of others to have laid off workers this year.

Which industries are most likely to become extinct in the United States?

The 10 industries that are dying in the United States, and the percentage change in workers since 2012, are:

  1. Natural Resources and Mining – 33%
  2. Religious/Civic Services – 4%
  3. Manufacturing – 7%
  4. Information – 12%
  5. Trade, Transportation, and Utilities – 13%
  6. Leisure and Hospitality 14%
  7. Finance – 15%
  8. Education and Health Services – 17%
  9. Professional and Business Services – 23%
  10. Construction – 36%

Which Industries Are Likely To Become Extinct

Which jobs are most likely to become extinct in the United States?

The 10 job roles most likely to be extinct by 2042, and the percentage change in workers over the last decade, are:

  1. Apparel manufacturing workers – 35%
  2. Miners – 27%
  3. Telecommunications workers – 22%
  4. Religious/Civic workers – 6%
  5. Utilities workers – 2%
  6. Accommodation and Food services staff – 13%
  7. Finance and Insurance professionals – 13%
  8. Education staff – 14%
  9. Administrators – 17%
  10. Civil engineers – 25%

Which Jobs Are Likely To Become Extinct (1)

How research was conducted

To conduct the research, we interrogated data from the Bureau of Labor Statistics, tracking employee numbers in 10 of the biggest industries in America, and the most common roles within each. Using this data, we made a prediction for the jobs and industries which will be extinct by 2042.

Looking at which sectors had the most total job openings, we found that:

  • Education and health services had the highest number of vacancies currently in America, with 2.06 million positions available
  • Professional and business services had the 2nd most, at 2.03 million
  • Trade, transportation, and utilities had the 3rd most, at 1.98 million

In total across the 10 sectors, there are currently 10,171,000 available jobs across the United States.

Construction has seen the biggest rise in job openings since 2012, with an increase of 343% since 2012. Leisure/hospitality, and trade, transportation, and utilities were 2nd and 3rd for changes in the number of available jobs in the last 10 years, with each industry seeing increases of 246% and 223%, respectively.

Which Jobs Are Likely To Become Extinct

The constantly evolving economic landscape in the U.S. also leads to continuous changes within the American workforce. Certain factors — such as automation and sustainability — can lead to reduced need for some industries and job roles.

Nadene Evans of Zenefits said, “As a brand which is firmly planted in the HR and employment space, we’re constantly looking for changes in trends across all facets of work life. That’s why we decided to look into the industries and job roles which may be going extinct in the coming years, to help shine a light on some of America’s dying sectors.”

She added: “It was interesting to see natural resources and mining take such a big hit since 2012 — obviously with the push towards sustainability and net-zero, I expected to see a drop in that sector, but a third is a massive chunk of the industry’s workforce.”

To learn how to bring your workforce into the future, try out the Zenefits platform — which allows you to streamline onboarding, benefits, payroll, PTO, and more.

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20 Best Countries to Work In https://www.zenefits.com/workest/20-best-countries-to-work-in/ Fri, 09 Sep 2022 21:36:09 +0000 https://www.zenefits.com/workest/?p=18179 Think you work in the best country in the world? Think again, as we reveal which country is really the best to work in (Hint: the U.S. doesn't make the cut!).

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Workers are feeling the pressure to maintain their comfortable life amid the current cost of living crisis. The cost of living is soaring while salaries remain relatively stable.

In fact, the global inflation rate has driven the Consumer Price Index for All Urban Consumers up by 8.6% in the last year, while salaries have only increased by 5.2% in this same time frame.

Although throughout the country there have been salary increases in response to the rapid increase in inflation, a gap remains between the cost of living and the majority of employees’ annual incomes.

This made us consider whether the United States really is one of the best countries to work in, or whether a move overseas would provide better workplace benefits and higher earning potential.

As it turns out, the U.S. did not make the cut. It finished at the bottom of the list as a result of poor workplace benefits compared to the majority of European nations and high cost of living.

Top 20 countries to work in

20 best countries in the world to work in

It turns out that for the best work-life balance, Luxembourg is the country to live in. With an average salary of $81,110 and the most generous statutory sick pay policy at 89 weeks on 100% pay, the European economic powerhouse famed for its award-winning wines provides the best opportunities for employees to live comfortably.

The Netherlands, with its flat landscape of canals and tulip fields and famed for its cycling routes is revealed as the 2nd best country to work in, regardless of profession. The country finished in the top 3. That’s thanks to its good statutory sick pay benefits (104 weeks at 70% of salary) and an 80.1% employment rate.

Rounding out the top 3 is Norway, with the lowest standard working hours of any country considered, at only 33.4 hours per week, allowing employees to make the most of their free time with family and friends.

Employees in Norway are able to enjoy their time outside of work with a generous salary of $84,090, the 3rd highest average salary in our study.

Key benefits in the top 10 countries

Key Employee benefits in the top 10 Countries

While the island of Bermuda off the U.S. East Coast has the highest average salary of all countries considered in the ranking at $116,540, it also has the highest cost of living. The Cost Of Living Index gives the British island territory a score of 141.74, making the island, known for its pink sandy beaches, 40% more expensive to live in than New York City.

Switzerland, although it failed to make the top 10, is the country with the highest annual salaries for high-ranking positions in a number of professions. High-ranking healthcare professionals can expect to earn an average of $195,465.

Those in the finance sector could bring in $271,360 per annum. Professionals in the education field could earn salaries of $234,260.

However, the alpine country missed out on a spot in the top 10. That was because of poor paternity leave policies and the high cost of living. The country ranked as the 2nd most expensive to live in. It ranked behind Bermuda, with the cost of living averaging 10% more than in New York City.

The U.S. didn’t make the cut though, despite having the 6th highest average salary. The U.S. offers fewer workplace benefits than many European nations. That, coupled with the high cost of living and higher unemployment rates, put it at the bottom of the overall list.

The U.S. offers fewer workplace benefits than many European nations. That, coupled with the high cost of living and higher unemployment rates, put it at the bottom of the overall list.

Top 20 countries to work in and their workplace benefits

We hope that the research uncovered helps to highlight the workplace benefits that individual employers can introduce to keep up staff morale and ensure that the U.S. can help retain its talented and diverse workplace!

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Methodology

To conduct this study, our experts looked at the 20 countries with the highest GDP per capita. They ranked these countries based on a number of workplace-related metrics.

To rank each country, 9 metrics were taken into consideration. Those included employment rate, unemployment rate, maternity pay, paternity pay, and statutory sick pay. They also included annual leave allowance, standard working hours, average salary, and cost of living.

We gave each country a score of 1 to 20 based on where they ranked in the list. A score of 20 was the best and 1 was the worst.

Some countries were given the same score if they ranked the same as each other. Where data wasn’t available, countries were given the minimum score of 1 for that ranking.

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What Do Payroll Reports Cover? Everything You Need to Know https://www.zenefits.com/workest/what-do-payroll-reports-cover-everything-you-need-to-know/ Thu, 14 Jul 2022 00:18:13 +0000 https://www.zenefits.com/workest/?p=17544 Reports for your payroll processes come in many shapes and sizes. Here's what you need to know about compliance and which to use.

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Payroll reporting is a mandatory business requirement and a core activity for accounting and HR teams. And while it’s possible to outsource payroll processing to a payroll services provider or invest in payroll software, many still choose to complete payroll reports the old-fashioned way.

However, there’s more to generating these documents than keeping a simple excel sheet – no matter how you choose to provide the IRS and state departments reports about your:

  • Payroll costs
  • Tax withholdings
  • Other relevant data

As your organization grows and regulations continue to become more complex, keeping track of payroll activities requires several in-depth reports. These reports help you manage your compliance requirements. They also assist in preventing overpayment, fraud, and information inaccuracies.

And inaccuracies in payroll reporting can cost you big time.

Around 40% of small to mid-sized businesses incur IRS penalties related to incorrect payroll filings and suffer an average fine of $845. Over 50% of workers are affected by payroll issues, and half of all employees would choose to find a new job after two paycheck problems.

What are payroll reports?

Payroll reports are documents containing essential employee, team, and department information and are used to verify tax and accounting details. There are several specific payroll reports that employers and HR professionals can generate, depending on how you want to slice and dice the data.

Inaccuracies in payroll reporting can cost you big time.

A payroll report may require the following information:

  • Full employee name
  • Employee ID
  • Department
  • Hourly rate
  • Regular hours
  • Overtime hours
  • Vacation hours, sick leave, and other hours
  • Regular and overtime wages
  • Additional earnings, such as bonuses, commissions, or tips
  • Gross pay
  • Reimbursements
  • Employee taxes
  • Federal Unemployment Tax Act or FUTA tax
  • Medicare Tax
  • Social Security Tax
  • Net pay
  • Employee 401(k) contributions, if applicable

Depending on your needs, there are different ways to filter payroll data. Some payroll reports are used for calculating taxes and ensuring compliance. In contrast, others can help specific departments better understand their employee productivity and ROI.

What are some standard payroll reports?

Here are 7 types of payroll reports:

  1. Payroll Summary Report – This type of document offers an overview of an individual employee’s payroll history during a pay period. A payroll summary report includes gross and net wages, all tax withholdings, and miscellaneous deductions.
  2. Payroll Register Report – A register is similar to the payroll summary and contains information relates to gross wages, deductions, tax withholding, and net wages. However, this tends to be a more comprehensive register of payroll information and lists information about every employee. A payroll register is typically used when submitting tax payments and filing returns.
  3. Labor Distribution Report – This is a breakdown of payroll costs by department.
  4. Payroll Detail Report – Usually run monthly, this document offers in-depth information about employee gross wages and benefits. The finance team uses this payroll data to reconcile payroll costs.
  5. Employee Detail Report – This payroll activity maintains all information about an employee and is used to verify w-2 forms. Data found in an employee detail report include the individual employee’s full name, address, social security number, and address.
  6. History Summary Report – As the name implies, this includes an individual employee’s previous pay amounts, deductions, taxes, and rate changes for a specific pay period.
  7. Revamped All in One Report – This is customizable and includes all payroll activity, including historical data.

Typical tax-specific payroll reports

Below are 5 reports required for tax filings:

  1. Tax Payments Report – This is a summary of taxes paid over a period of time.
  2. Tax Liability Report – This includes total tax liabilities, including how much is still owed to the government.
  3. Wage and Tax Summary Report – This summarizes employee information, pay, and tax information for a given pay period.
  4. Deductions and Contributions Report – Payroll data in this document hones in on every benefit and employer contribution deduction.
  5. Certified Payroll Report – Government contractors must submit a form WH-347 to the IRS weekly, as well as state or local government-specific forms.
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How do you process payroll and payroll taxes?

If you aren’t outsourcing payment processing to a third-party accountant or payroll service, it’s crucial to have a straightforward process. You can choose to process payroll on a weekly, bi-weekly, semi-monthly, or monthly basis.

You can choose to process payroll on a weekly, bi-weekly, semi-monthly, or monthly basis.

The steps for processing payroll include:

  1. Calculate the gross wages for each individual employee
  2. Subtract the federal income tax, state income taxes, FICA taxes, and other related deductions from their gross wage
  3. Calculate the amount you need for both the employer and employee side of FICA taxes. These should be equal.
  4. Send the employee’s net pay to their bank account or via check.
  5. Pay taxes, including the tax withholding from the employee’s wages, the employee’s FICA tax, and the employer’s FICA contribution.
  6. File related payroll reports to the IRS and state agencies.

Essential IRS forms to file can include Form:

  • 940 – Federal Unemployment Tax Return
  • 941 – Quarterly Tax Return
  • 944 – Federal Tax Return
  • 945 – Withheld Federal Income Tax
  • W-3 – Transmittal of Wage and Tax Statement

Is a payroll report mandatory?

The IRS requires quarterly payroll reports specific to:

  • Social Security
  • Wages
  • Workers’ compensation
  • Unemployment or FUTA tax
  • Medicare tax

There are also state-specific requirements for payroll reports, but most mandate that they be filed quarterly. For the IRS quarterly reports, you’ll need to submit Form 941.

The IRS also requires businesses to submit annual reports to complete their taxes, including a Form 944 to confirm unemployment tax payments.

When should you produce payroll reports?

Typically, you would submit your payroll reports to the IRS with your regular tax filings. These due dates are:

  • April 30
  • July 31
  • October 31
  • January 31

State-specific laws may overlap with IRS filing dates or may have their own schedule.

What do payroll auditors look for?

Your business may have to go through a payroll audit, although, ideally, you will be routinely auditing your payroll process. Payroll auditors should review the accuracy of payroll records, how these records are organized, and whether sensitive data is adequately protected.

To prepare your team for a potential external audit, it’s good to review your payroll processes internally. In particular, you’ll want to regularly:

  • Review and verify pay rates for each employee
  • Ensure that each employee is classified correctly according to FLSA standards
  • Confirm that terminated employees are no longer active in the system
  • Evaluate the status of independent contractors and vendors
  • Compare your payroll data with accounting’s general ledger
  • Reconcile bank account statements with payroll pay period data
  • Double-check tax calculations and payments

When looking at payroll compliance, you must be sure that your payroll process is aligned with the following federal regulations:

  • Fair Labor Standards Act (FLSA)
  • Federal Insurance Contributions Act (FICA)
  • Equal Pay Act (EPA)
  • Federal Unemployment Tax Act (FUTA)

These laws cover minimum wage, child labor, overtime, recordkeeping, employee classification, Social Security tax, Medicare tax, unemployment tax collections, and wage discrimination practices.

Where can you find a payroll summary report template?

To reduce payroll costs and time spent on each report, it helps to have a comprehensive template. We have created an information guide and high-quality Microsoft Excel payroll reporting template for labor distribution and payroll register reports. These templates can also be easily modified to match your specific reporting needs.

Check out this free tool for small businesses and HR professionals to streamline your payroll process today

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