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KEYS TO EFFECTIVE LEADERSHIP

Posted on April 4, 2016 by Trinity HR

leadership2So much has been written about leadership that your first inclination may be to think I don’t need to read anything else about it.  Despite that I urge you to invest about 60 seconds to read Trinity Human Resources Consulting’s identification of the KEYS TO EFFECTIVE LEADERSHIP.

1.   BUILD TRUST & CREDIBILITY

  • Without it, you can seek to lead, but people do not follow someone who has not earned their trust & proven her/his credibility.
  • Sharing your vision of the future before you have established trust & credibility is equivalent to a baseball hitter swinging his bat before the pitcher throws the ball
    arrow-bulletIt leads to a lack of success & frustration as to why others are not following  you!

2.   SHARE YOUR VISION WITH ABSOLUTE CLARITY

  • If you have not earned people’s trust, they will not catch the vision.
  • Unless people “catch” the vision, they can’t “run” with it.
    arrow-bulletRunning with a vision by yourself without others running with you is a long, lonely & losing race!
  • The test of clarity is can everyone in your organization say what the vision is—maybe not exactly as written by the organization, but at least in their own words.

3.   HONE YOUR COMMUNICATION SKILLS

  • Convey a willingness to share information
  • Effective leaders listen as much as or more than they speak
    arrow-bulletListening conveys to individuals that you value their opinions & thoughts
  • We cannot learn anything when we talk because we can only say what we know…but we can learn a lot when we listen.

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4.   INVEST IN THE DEVELOPMENT OF OTHERS

  • Even the best leaders need a great team around them.
    arrow-bullet Michael Jordan is considered by many to be the best basketball player of all time, yet he did not win an NBA championship until the Chicago Bulls put other talented players around him!
  • Wise leaders know that employees want to grow and develop, and providing opportunities to them to do so is best viewed as a smart investment—not simply as another expense.

5.   REGULARLY PROVIDE MOVITATION & INSPIRATION

  • Every journey experiences some slowdowns & setbacks.
  • That’s when a leader needs to provide the motivation & inspiration for the team to keep moving forward toward achieving the vision.
  • Celebrate victories & help the team to learn from instances when victory is not achieved.

HOW TRINITY CAN HELP?

If your organization has an interest in developing its level of leadership , Trinity can help you.

For more information, e mail Trinity at info@TrinityHR.net or visit our website at www.TrinityHR.net.

  • YOU HAVE OPPORTUNITIES…TRINITY HAS PATHS FORWARD!

Posted in Strategy, Management & Leadership

CREATING “SKIN IN THE GAME”

Posted on March 21, 2016 by Trinity HR

skinWe often hear companies talk about how they want their executives & managers have “skin in the game” or more of it.  The term has come to mean to have a personal stake or vested interest in the outcome.

  • The phrase was originally coined by Warren Buffet, the “Oracle of Omaha”, to referring to a situation in which high-ranking insiders use their own money to buy stock in the company they are running

The reason for desiring this is the recognition by CEO and business owners that individuals who have “skin in the game” will:

  • Be more motivated to maximize their own performance as well as that of those they oversee
  • Act and make decisions more like actual owners

The most common ways be which companies create “skin in the game” include:

  • Annual incentive compensation plans
  • Long-term incentive compensation plans
    • Typically, either as an equity/stock plan or a financial metrics plan

For privately-owned companies, the idea of giving away in a small percentage of ownership is not a consideration.  That’s where a “shadow stock plan” can come into the picture.

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arrow-bullet A “shadow stock plan” is a form of long-term incentive plan used by to create
financial “skin in the game” without creating any stock dilution.

arrow-bulletIn effect, it is a type of deferred bonus—the value of which is ultimately determined
by the company.

There is no formal or statutory definition of the term “shadow stock plan”, and therefore the term is used by some companies in a broad context and by other companies in the narrow sense of the term.  A “shadow stock plan” may also be known by such terms as a “simulated stock plan” or a “phantom stock plan”.

In its broad use, the term is used to denote any type of plan in which employees must wait until a future date to receive the financial value of a promise given today. When used more narrowly, it indicates a plan that is intended to mirror restricted stock awards or stock option grants.

  • In this latter  usage, the company creates “shadow shares” that may resemble actual stock shares, but are actually a commitment to pay the employees cash upon fulfillment of certain conditions.

When it comes to a “shadow stock plan”, an organization’s legal structure is of little or no significance.  That’s due to the fact that it can be adopted by an S Corporation, a C Corporation, a Limited Liability Company (LLC) and even a Partnership

For more information about a “shadow stock plan” or incentive compensation in general, e mail Trinity at info@TrinityHR.net or visit our website at www.TrinityHR.net.

You have questions…Trinity has answers!

Posted in Compensation & Performance Management, Talent Acquisition, Executive Search, Employment & Employee Retention

What Really Matters in Recruiting & Retention?

Posted on March 7, 2016 by Trinity HR

recruitment-retentionA recent survey looked at what are the factors important to:

  • Candidates in making employment decisions
  • Employees in deciding to stay or leave

The survey results show that the factors that matter most are very different related to recruiting in comparison to retention.

RECRUITING FACTORS:

Nearly 3 in 5 (57%) people report benefits being among their top considerations before accepting a job.

arrow-bullet4 in 5 people actually said they would prefer new or improved benefits over a pay raise!

In looking at benefits that matter most to people, the top 3, not surprisingly, are in order of importance:

1)     Healthcare insurance
2)     Paid time off (including sick time)
3)     Retirement plan (pension and/or 401(k) plan)

RETENTION FACTORS:

However, when it comes to what keeps employees satisfied and therefore choosing to stay, it’s a different story.  The most important retention factors are:

1)     Culture and values
2)     Career opportunities
3)     Leadership

EMPLOYER ACTION
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Ask yourself these questions:

RECRUITING:

1)     Do I know whether our benefits package is better, same or worse than comparable companies?
2)     When is the last time we did a comparison?
3)     Is it time to do an updated comparison?

RETENTION:

1)     Do I know how employees feel about our company when it comes to the key retention factors?
2)     How do I know with certainty?
3)     Is it time to find out with certainty?

HOW TRINITY CAN HELP?

Trinity’s Team has the experience and expertise to assist in improving the work experience of your employees—and, in turn, improve your organization’s:

  • Relationship with its most important asset—your employees
  • Ability to recruit and retain talent individuals
  • Overall performance of your organization

For more information, e-mail Trinity at info@TrinityHR.net or visit our website at www.TrinityHR.net.

You have HR challenges…Trinity has solutions!

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

WHAT ARE THE PREDICTORS OF HIRING SUCCESS?”

Posted on February 22, 2016 by Trinity HR

hire-right-peopleResearch shows that only 19% of newly hired employees are considered to be unequivocal successes. This is an alarming low rate of success for a process that is essential to an organization’s success!

Why does the hiring and selection process have such a poor success rate?  Some reasons are:

arrow-bulletOverreliance on what the candidate’s resume states about experience and  accomplishments

  • Never forget that a resume is a candidate’s self-created advertisement about themselves as the following statistics demonstrate:

check-markEmbellished skill set – 57%

check-markOverstated responsibilities – 55%

check-markIncorrect dates of employment to cover up gaps – 42%

check-markElevated job title – 34%

check-markOverstated education – 33%

arrow-bulletInterviewing & evaluating candidates is not a core competency of hiring managers, and therefore they do not know how to effectively:

  • Pose questions that produce revealing answers & important insights
  • Ask probing follow-up questions to drill down past an initial answer
  • Conduct behavioral interviews

arrow-bulletSoft skills,   such as professionalism     and interpersonal skills, are  often not evaluated or not properly evaluated

The old adage that “past performance is the best predictor of future success” remains as true today as it has in the past.  The key elements of past performance that need to be carefully & comprehensively evaluated include:

  • Leadership skills

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  • Interpersonal skills
  • Behavioral style
  • Collaboration and teamwork
  • Cognitive ability

Without the help of external resources, selections are far too often made with any type of assessment of these keybad-hire predictors of success (along with cultural compatibility) being conducted.

arrow-bulletAs a result, you may as well give the new hire the following name tag:

 

HOW TRINITY CAN HELP?

Trinity’s services include:

  • Conducting searches from the professional level through executive level positions
  • Providing a wide array of assessment tools to improve your selection decision making

 For more information, e mail Trinity at info@TrinityHR.net or visit our website at www.TrinityHR.net.

  • You have HR challenges…Trinity has solutions!

 

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

FISHING FOR THE RIGHT TALENT

Posted on February 8, 2016 by Trinity HR

fishing-talentSimply stated, the quality of your organization’s products or services starts & continues with quality people.

  • Quality is all about the people who are performing the work and providing the services!

Yet so many organizations are depending upon one of the following means by which they find the talented individuals needed for their company:

  • Putting your fishing pole in water where only fish who are looking to be caught exist
    arrow-bulletIdentifying candidates who are actively looking for a new job, but not those individuals who are not in the job market, but are open to the right opportunity
  • Baiting your line with the wrong bait for the type of fish you want, & hoping that the right fish will jump into your boat
    arrow-bulletNot knowing how to attract the right fish

    arrow-bulletNot knowing how to conduct in depth interviews & assessments that will help you to decide which fish are the right ones & which to throw back into the water
  • Thinking some other fisherman will share his catch with you
    arrow-bulletRelying on candidate referrals from business associates, friends & others

So often organizations think doing talent searches on their own has no cost.  However, if one stops to count the cost, the costs are in the form of:

  • Loss of focus
    arrow-bulletThere is commonly a loss of attention to other important matters due to the time spent by an internal person doing the search.

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  • Internal searches lacking the expertise to know where to & how to fish for the exact fish you want
    arrow-bulletSearch firms are expert fishermen, who will bring you 1st quality fish
  • Less probability of success
    arrow-bulletThe success rate of a hire from a search firm is higher, which reduces the likelihood & amount of emotional energy expended, momentum lost & lack of progress made due to a bad hiring decision.
    arrow-bulletPlus the financial expense typically associated with exiting a bad hire.

EMPLOYER ACTION

Perhaps it’s time for you to re-evaluate your current “fishing model” & let the professional fishermen fish on your behalf.

HOW TRINITY CAN HELP?

If your organization has a talent acquisition need, Trinity can conduct an effective, highly professional search on your behalf & at a very competitive fee.

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

REVIEW YOUR INCLEMENT WEATHER POLICY

Posted on January 25, 2016 by Trinity HR

snowWith the tri-state area having experienced its first major snowstorm of the winter, this is a good time to make sure your organization has a formal policy in place related to facility closure.  Your policy should address how:

  • Employees can find out if there is a facility closure or a late opening
  • The day will be treated for employee pay purposes

In reviewing your existing policy or developing it for the first time, there are two aspects you should carefully take into account:

  • The Fair Labor Standards Act — ensure you what the Act and related Wage & Hour interpretations enable you to do and what you cannot do
  • Employee Relations —  to what extent will your employees perceive your policy as fair and reasonable

Fair Labor Standards Act

Briefly stated, the Act provides that if the company closes for weather-related reasons the following applies:

  • Exempt (commonly referred to as “salaried”) employees are required to be paid—without being charged against paid time off (PTO).
    arrow-bulletNothing prohibits you from reminding exempt employees of the expectation that they are expected to      work whatever hours are necessary to “get the job done”.
  • Non-exempt (commonly referred to as “hourly”) employees are not required to be paid.

So you have three basic options for non-exempt employees:

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  1. Mandate that the day be charged against Paid Time Off (PTO)
  2. Allow them the choice of using accrued PTO to cover the day or taking the day as unpaid
  3. Go beyond the Act & pay them without charging the time to PTO

EMPLOYEE RELATIONS

This is trickier than FLSA compliance—unless your policy calls for option 3 above.  That’s because the other two options result in your differentiating between your non-exempt and exempt employees.

  • ·Most employers do in fact have different treatment of these two groups in some aspects of employment—some favorable for one group and some favorable for the other group. For example:
    arrow-bulletNon-exempt employees being paid time and ½ for hours in excess of 40 in a week whereas exempt    employees typically receive no additional compensation
    arrow-bulletExempt employees receiving favorable treatment in terms of hours flexibility or some benefit, such as in PTO or life insurance.
  • Nonetheless, differing treatment of pay for the two groups for a facility closure can create an employee relations issue for you to address.

If your organization needs help with this policy (or other policies) or employee relations matters, Trinity’s Team of Consultants can help you.

Posted in HR Management

A GREAT EMPLOYER: PART 2 – ADVANTAGES

Posted on January 11, 2016 by Trinity HR

love-job

In Part 1, we identified the characteristics of a great place of employment. Now in Part 2, we’ll talk about the advantages to your company – that is, what’s it in for you.

Here are some key advantages based on multiple studies:

  1. Greater profitability
  • The Great Place to Place Work Institute’s research reports its top 100 U.S. companies have stock market return about double those of S&P 500 companies overall.
  • But you don’t have to be a publically traded company to attain better financial performance.
  1. Lower voluntary employee turnover
  • For most industries, those companies that are considered to have created a highly positive work culture have voluntary turnover rates less than half of others.
  • Here are some industry examples:

employer-chart

  1. Greater talent attraction
  • Fortune magazine cited having a reputation for being a great employer as more important to prospective employees than the rest of the factors combined!
  • Just think of the advantage of being able to draw top talent to your organization.
  • Talent + Culture = Success
  1. Higher customer/client satisfaction levels
  • It’s true – when employees feel good about where they work, it’s reflected in a positive way in their interactions with customers/clients.
  • The converse is also true!

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EMPLOYER ACTION

Answer these three questions about your organization:

  1. Do we want your employees to consider you to be a great place to work?
  • Very rare is an employer that does not want this to be the case
  1. Do you have an assessment tool to measure how your organization is doing related to the characteristics of great employers?
  • If not, you probably do not have a reliable gauge.
  1. When is the last time you did a formal assessment?
  • If it’s been a year or longer, you should consider re-doing an assessment—especially if the last set of results were less than really good.

HOW TRINITY CAN HELP?

Trinity can:

arrow-bulletCustom design & administer an assessment tool
arrow-bulletProvide results analysis
arrow-bulletDevelop a detailed action plan based on the results

For more information, email Trinity at info@TrinityHR.net or visit our website at www.TrinityHR.net.

You have HR questions…Trinity has answers!

Posted in Employee & Labor Relations

A GREAT EMPLOYER: PART 1 – CHARACTERISTICS

Posted on November 30, 2015 by Trinity HR

Today there are multiple sources of lists identifying which companies are consider great employers. Examples of sources include:

  • The Great Place to Work Institute
  • Fortune Magazine
  • Workplace Dynamics’ TopWorkPlaces.com
  • Glassdoor.com

Each uses its own variation of an assessment tool/employee survey to create its list of great employers.  Regardless of the methodology used, those companies that make one of these lists have common characteristics, some examples of which are:

  1. Trust/Credibility earned from employees
  2. Values/Culture consistently demonstrated
  3. Communication is clear & open
  4. Teamwork/Collaboration
  5. Competitive pay & benefits

EMPLOYER ACTION

Answer these three questions about your organization:

  1. Do we want your employees to consider you to be a great place to work?
    • Very rare is an employer that does not want this to be the case

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  2. Do you have an assessment tool to measure how your organization is doing related to the characteristics of great employers?
    • If not, you probably do not have a reliable gauge.
  3. When is the last time you did a formal assessment?
    • If it’s been a year or longer, you should consider re-doing an assessment—especially if the last set of results were less than really good.

HOW TRINITY CAN HELP?

Trinity can:

arrow-bulletDesign an assessment tool for you
arrow-bulletAdminister it
arrow-bulletProvide results analysis
arrow-bulletDevelop a detailed action plan based on the results

For more information, e mail Trinity at info@TrinityHR.net or visit our website at www.TrinityHR.net.

Posted in Employee & Labor Relations

ARE YOU CONTRIBUTING TO LOSING VALUABLE EMPLOYEES?

Posted on November 16, 2015 by Trinity HR

quit-jobSometimes, regardless of how well you manage employees, sooner or later some are going to leave. At times, their reasons are beyond your control.  For example:

  • A spouse who is the primary wage earner gets a new position requires relocation.
  • An unbelievable opportunity presents itself.

However, here are some employment issues that are within your control and can contribute or cause you to lose a valuable employee:

1.   You aren’t paying enough.

  • Do you know what the market rates for your company’s jobs are?

2.   You don’t praise enough.

  • Everybody likes to be complimented & recognized.
  • Don’t fall into the trap of thinking employees know that you appreciate their good work.

3.   You aren’t training & developing enough.

  • Most employees want to continue to learn & develop—especially really good ones.
  • What opportunities are you providing?

4.   You aren’t challenging enough.

  • Your best employees want new problems to solve & new opportunities to contribute.

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5.   You overload them.

  • While this can be true with any employee, it is most likely to occur with those employees who are your best– because you know you can count on them.

6.   You don’t ask for enough input.

  • It’s surprising how many good ideas employees have, but they don’t get asked to offer.

7.   You don’t seek to know how employees really feel.

  • It necessitates your having earned their trust enough to believe they can share their feelings openly & honestly without fear of negative consequences.

HOW TRINITY CAN HELP? 

arrow-bulletAssessing your work environment
arrow-bulletConducting market analysis of your pay rates

For more information, e mail Trinity at info@TrinityHR.net or visit us at www.TrinityHR.net.

You have HR challenges…Trinity has solutions!

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

ARE YOU AT RISK OF LOSING A KEY EMPLOYEE?

Posted on November 3, 2015 by Trinity HR

keyWe all know that one of the keys to business success is people. Consequently, every organization (regardless of its size or industry) has certain executives, managers and other employees who represent an important reason for its success.

  • The loss of one or more key employees can have serious negative consequences in terms of such things as:
  • A weakening in an important customer/client relationship
  • Their taking with them specialized knowledge or skills
  • A void in leadership
  • A decline in the modeling of your culture

EMPLOYER ACTION
Here are three important questions to ask yourself:

  • Do I know if our organization has key employees who may be considering leaving?
  • Have I recently taken the time to do an assessment of our key employees to consider our vulnerability to losing one or more of them?

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  • How do we address the specific reason or reasons the individual may be seeking another opportunity or be susceptible to being recruiting away from us?

HOW TRINITY CAN HELP?
Trinity has created a KEY EMPLOYEE VULNERABILITY ASSESSMENTTM. This fast and easy-to-use tool enables you to evaluate the vulnerability of each key employee, based on six employment elements that impact an employee’s satisfaction – and thus her/his likelihood for choosing between staying or leaving.

In addition, Trinity’s Team of Consultants have a proved record of being able to help organizations significantly improve their ability to improve employee retention, especially with key employees.

You have HR challenges…Trinity has solutions!

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention