Any company trying to compete must figure out a way to engage the mind of every employee- Jack Welch
People are the most valuable asset of any organization. There could be buildings, machines, assets worth millions of dollars but if the right talent is not available, organizations could never scale the pinnacle of success. “Talent shortages” takes priority over “operational execution” reveals a recent survey involving 780 CEOs. Today, any initiative around people excellence is no more a cost item, its survival.
For any enterprise, addressing the people’s issues is of prime importance because it directly impacts its performance and growth. ‘People Excellence’ department is always on a quest to make employee’s performance optimal so that every employee is able to contribute his maximum to the organization. Inspite of such sincere efforts, the culture, practices & technologies used within the organization often hinder performance. Organizations make massive investments in building HR policies & systems but a shouting contrast to it is that the manpower still remains largely untapped.
IDC estimates that the average worker spends up to 35% of their time just looking for information. 89% of new hires say they don’t have the optimal level of knowledge to do their job. The typical mid-level manager takes 6.2 months before they start to add more value than they have consumed. What a waste!
Initial 45 days are critical for any new Hire. This is when 1/3 of the employee-churn happens. The cost of losing an employee is 3x the annual salary. Traditional onboarding adds lot of chaos to work. The induction program organized for new hires does not add much value. The new hires are bombarded with dozens of PowerPoint presentations in the 3 days program and are then expected to understand all of it and start performing next day onwards. When asked for more information they get numerous email forwards which only fill their inboxes up. When they need experts help, it’s really hard to find any.
If we have the right digital transformation strategy, we could barrel through all employees related problems. A better way of onboarding could be the social way by building strong internal employee communities. The employee could join a group relevant to his role & his interests. The news feeds give him constant updates on the activities taking place on a project, event or topic. Experts are added to the group where they could collaborate with the team, share ideas, best practices and the entire team could be in sync. Views/ comments could be corroborated & fast actions could be taken. Eventually, the load of unwanted emails is eased, there are lesser numbers of meetings, less time wasted and productivity shoots up.
Let’s accept the fact that the days of ‘9 to 5’ jobs are over. Employees today want more flexibility at work. Millennials who use Smartphones & Tablets at work want a more flexible & freelancing work environment. No wonder 60% of them are leaving their companies in less than three years.A recent ‘Millennial Branding’ report also found that 45% of millennials will choose workplace flexibility over pay. It’s a radical shift in priority.
So what we see written on the wall is, it should not be just about how much time an employee spends in the office but how much value add he does. Unlike the baby boomers, the millennials don’t mind taking work along on their smart devices. For them there is a thin line between their personal & office lives. In order to ensure longevity of today’s ‘thumb-typing’ workforce its important to make work more engaging, mobile, increase freelancing & make work hours flexible.
Thats where Social onboarding could add value. It could improve employee productivity & reduce churn through better collaboration, sharing & communication.