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Employee Benefits Open Enrollment Secrets

It’s benefits season, and that means employees are making mistakes that will cost them in headaches and dollars. “You really have to sit down and pay attention to your benefits like you never had to before,” says Judith Wethall, an employee benefits lawyer with McDermott Will & Emery in Chicago. It’s complicated enough if you’re single. But if you’re married, or have kids who can get insurance on their own or on your plan, it’s even more so. “It’s a coordinated effort,” Wethall says.

Here are 5 insider tips for acing open enrollment. Forbes’ Kelly Anne Smith has more on open enrollment angles for single Millennials here.

Tip #1: Print your online enrollment confirmation page. More employers are moving benefits enrollment online. That has advantages. The online systems walk you through benefits enrollment like TurboTax walks you through filing your tax return. But online enrollment isn’t foolproof. “We started seeing mistakes this year—‘Oh, I know I logged on; I know I added my husband!’” Wethall says an employee insisted in February. Print out and double check your online enrollment submission. And then, check your first paystub in January.

Today In: Money

Secret: Made a mistake or had a change in circumstance? You probably clicked a button that says that your choices are set in stone once you submit your enrollment. But employers can let you change choices (how much money you put in your flexible healthcare spending account, for example) until before the second paystub of the first month of the new plan year. “That’s a little dirty secret,” Wethall says.

Tip #2: Pay attention to wellness programs. Employers are increasingly offering rewards for good behavior like getting an annual physical and penalties for bad behavior like smoking). Employers must be very clear on what it takes to get a cash reward, such as an employer payment into a health savings account. The rules are strict for penalties too. “People are duped into thinking, ‘Oh, I smoke; guess I have to pay the 50% [healthcare premium] surcharge,’” Wethall says.

Secret: DOL rules say that employers must remove smoking-related surcharges for an employee who attends and completes a free smoking cessation class. You don’t have to necessarily give up smoking, just try. Wethall says she helped one employer through a DOL audit that mandated the employer refund employees $2.5 million in surcharges.

Tip #3: Be a comparison shopper. If you have multiple adults eligible for multiple healthcare plans, it pays to compare them. That’s not always easy, as the open enrollment periods might overlap just a few days, but get a head start when the first plan’s enrollment period begins. Wethall says she plans to move her family off her husband’s health insurance plan onto her employer’s plan this year because her plan started offering new premium subsidies. Their 22-year-old daughter has a new job with coverage, so they’re deciding whether to add her to the new family plan—or to have her opt for cheap single coverage on her own. One factor to consider when you’re plan shopping: Do any of the plans offer tiered premiums that are lower for lower-paid employees and higher for higher-paid workers? Another thing to watch out for is high spousal surcharges—when companies increase your premium by up to $100 a month if your spouse is offered coverage at work.

Secret: Children can stay on their parents’ health insurance plan until they turn 26, even if they’re offered employer coverage of their own. But just because they can, that doesn’t mean it’s the best option.

Tip #4: Learn the alphabet soup of special tax-advantaged accounts. If you’re offered a health care savings account, sign up, and you get triple tax-advantaged savings. Use it today for immediate savings or invest the money and use it as a retirement healthcare kitty. (Check out the details, including the 2020 HSA limits: $7,100 for family coverage). Don’t confuse an HSA with a healthcare flexible spending arrangement. The FSA limit is $2,750 for 2020, and you must spend it or forfeit it during the plan year (some employers let you carry over $500).

If you have kids under 13, fund a dependent care FSA, which is used to help pay for child care expenses, including day camp. There’s a $5,000 limit per family (some employers have lower limits), and there’s no carry over provision. It’s safer to underestimate expenses for a dependent care FSA because you can always take the dependent care tax credit on your income tax return (note: the credit is generally less valuable than the dependent care account).

Secret: Watch out for picky rules that might cost you. For the dependent care FSA, day camp counts but overnight camp doesn’t. And it’s not the year your kid turns 13, but the day he turns 13, that he becomes ineligible. If you have an HSA, your FSA must be a limited purpose FSA for dental and vision expenses only, and if you have family coverage, your spouse can’t separately sign up for an FSA at their employer. If you’re 55 or older, you and your spouse can each make $1,000-a-year extra contributions to the HSA.

Tip #5: When in doubt, call HR. “Employees aren’t advocating enough for themselves,” Wethall says. In one case, a woman who was paying for family coverage tried to add her newborn third child through an online system by the 30-days-after-birth deadline but it wouldn’t take without a Social Security number which hadn’t been issued yet. The baby ended up in the hospital after a car accident without coverage. The employer did retroactively pay for the baby’s care, but it would have saved a good deal of stress and anxiety if the employee had spoken up, as HR would have overridden the system, Wethall says.

Secret: HR can send you the plan description for details beyond what’s in open enrollment materials. And remember HR can get their benefits lawyer on the line to help. Be persistent. It’s your family’s money after all.

Follow me on Twitter or LinkedIn. Send me a secure tip.

I’m an associate editor on the Money team at Forbes based in Fairfield County, Connecticut, leading Forbes’ retirement coverage. I manage contributors who cover retirement and wealth management. Since I joined Forbes in 1997, my favorite stories have been on how people fuel their passions (historic preservation, open space, art, for example) by exploiting the tax code. I also get into the nitty-gritty of retirement account rules, estate planning and strategic charitable giving. My favorite Forbes business trip: to Plano, Ill. to report on the restoration of Ludwig Mies van der Rohe’s Farnsworth House, then owned by a British baron. Live well. Follow me on Twitter: http://www.twitter.com/ashleaebeling Send me an email: aebeling@forbes.com

Source: Shhh! Employee Benefits Open Enrollment Secrets

25.5K subscribers
Most companies provide benefits to workers as part of a total rewards package that ideally enhances their satisfaction with work. A benefit is a tangible indirect reward provided to an employee or group of employees for organizational membership. Benefits can influence employees’ decisions about which employer to work for, whether to stay with or leave an organization, and when to retire. What benefits are offered, the competitive level of benefits, and how those benefits are viewed by individuals all affect employee attraction and retention efforts. A benefit is a tangible indirect reward provided to an employee or group of employees for organizational membership. Organizations design benefit plans with a goal of providing value for employees while remaining cost-effective for the company. Many key decisions must be made as part of benefits design. The Social Security Act of 1935 and its later amendments established a system to provide old-age, survivor’s, disability, and retirement benefits. Medicare is a government-operated health insurance program for older Americans (age 65 and above) and for some citizens with disabilities. Workers’ compensation are security benefits provided to workers who are injured on the job. Unemployment compensation is money that substitutes for wages or salary, paid to recently unemployed workers under a program administered by a government or labor union. Unemployment compensation is meant to provide a source of income for jobless workers until they can find employment. Offering retirement plans are a staple of the total rewards mix in any organization, critical to attracting, retaining and motivating talent. Employees often consider health plans to be one of the most important benefits that companies offer. Some companies have started to offer a variety of innovative health care programs that provide better services to employees. The Family and Medical Leave Act of 1993 (FMLA) is a United States labor law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons. Since the enactment of the FMLA, a significant percentage of employees have taken family and medical leave. Many employers have found PTO plans to be more effective than other means of reducing absenteeism, scheduling time off, increasing employee understanding of leave policies, and assisting with recruiting and retention.

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4 Hard Truths About Why Your Key Team Members Quit

A while back we talked about the real reasons why you weren’t hiring new employees, and shared the hard truths behind why you might be hesitant to find and hire new talent despite a need for help. Today, I wanted to share a little more hard truth- this time surrounding the reasons why your employees quit. As a business owner, you may have an idea of why you have turnover, but it generally boils down to four main categories.

1. Lack of Recognition

One of the main reasons that employees look for another position has to do with lack of recognition from management. They think “I have been busting my hump for these people for the last ten years and I haven’t had a raise in three and all they ever do is give praise to Julie and I have done twice as much as Julie….etc” Really taking the time to celebrate victories with your employees and recognize their hard work goes a long way to keeping them happy in their current position. And it’s important to think outside of the “employee of the month” box and really get to the heart of recognizing hard work and talent on your team.
Hiring Tip: If your job opening has growth opportunities make sure to list that in the listing. A lot of job seekers are looking for this specifically and will help you stand out amongst the crowd.

2. Lack of Growth

Does the position have the opportunity for promotion? Employees that have no promotion opportunities, are already at the top of their pay grade and have no coaching or mentorship opportunities available to them are the most likely to leave to look for something else. Depending on your company, you may not be able to offer up a promotion in the traditional sense but mentoring or coaching your key team members to grow in their field can go a long way to keeping them interested and engaged.

Hiring Tip: Instead of hiring for a project manager right out of the gate consider hiring for a project manager level 1 or level 2, allowing the candidate room to be promoted over time.

3. Lack of Management

We have all heard the phrase, “people don’t quit jobs, they quit managers.” And this is very true. If they aren’t getting recognition, training or advancement opportunities it’s usually because of a manager. You want to make sure that your managers know what they’re doing and value their team and are doing all those things that are important to be able to keep those people.

4.Money

Everyone has economic needs and it’s important to pay your employees fairly. This should be a given. But when we talk about money and compensation it really comes down to two things.

  1. Are you being fair? Are you paying the person what they are worth to the company?
  2. Are you being respectful? Are you paying them what the market values their skill set at?

We can’t all compete to pay the highest wage, but you can make sure that you are being fair and respectful of your employees and their economic needs.

Hiring Tip: It’s also important to note here that often times when an employee comes to you asking for more money, what they really mean is that they want more independence, autonomy or growth opportunities. Those things can often be achieved with a larger salary, but there are other ways to make an employee feel appreciated without offering up more money. So if you are paying a fair wage, it might be a good idea to look at other factors that are at play here.

David Finkel Author, ‘The Freedom Formula: How to Succeed in Business Without Sacrificing Your Family, Health, or Life’

Source: 4 Hard Truths About Why Your Key Team Members Quit

63.3K subscribers
What To do When Your Network Marketing Team Members Quit ***Download my Guide to Generating Business & Sales Online here: http://www.tanyaaliza.com/40download In this episode, I share my best network marketing training tips on how to get past the frustration and disappointment that can linger on when someone quits your network marketing team. What’s your initial reaction when someone in your team decides to quit your network marketing team? Do you turn around and say, “Have you gone mad?!”  Or do you wish them well and mean it? Despite your best efforts to coach and support team members, there will always be some that leave. Everyone has their own theory on why people quit network marketing, but generally, people quit things all the time. They quit their job, their marriage, college, their dreams and every industry imaginable. It’s a fact of life and it’s inevitable. However, for most people, this kind of event shakes them up and leaves them feeling frustrated and disappointed. It may have already happened to you, and it’ll most certainly happen to all network marketers. So, if you’re stuck on an emotional roller coaster every time someone in your network marketing team decides to take a hiatus, then this network marketing training is for you. In this episode, I’ll be sharing some tools and strategies I use that will help you prepare for this type of situation and not allow it to detract you or prevent you from growing your business ****Download the FREE Resource mentioned in this video – My Guide to Generating Business, Leads and Sales Online – http://www.tanyaaliza.com/40download ———Connect With Tanya———— Tanya Aliza on Social Media: http://www.tanyaaliza.com http://www.facebook.com/tanyaaliza http://instagram.com/tanyaaliza http://twitter.com/tanyaaliza Share this video – https://youtu.be/6yUaFH23DC0 About this video: In this episode I share with you some of my Network Marketing Team training tips so that you know what to do if you have a teammate quit or cancel. In this network marketing training I also share so network marketing tips so you can understand why people quit. I hope you find this one of your most best network marketing training.

8 Fears That Prevent Honest Employees From Telling Managers the Truth

Do you ever secretly feel like your team is withholding information? That you’re only getting half of the story? Or that employees are just telling you what you want to hear?

You’re not alone. According to a SimplyHired survey, more employees fib to their supervisors than to their co-workers or subordinates. Combine this stat with those employees who don’t say anything at all, and you’re looking at a wide-spread lack of reliable information.

So why do employees feel like they have to lie?

The truth? They’re afraid of repercussions. They’re scared of the exposure that comes from being open and honest, especially with managers.

Little white-lies about staying home sick are one thing, but when employees consistently withhold the truth from their managers and teams, engagement suffers, and productivity is stifled.

Root Inc., a management consulting firm that’s worked with many Fortune 50 companies, sees this issue surface most frequently during times of organizational change. As companies go through cultural, procedural, or structural shifts, employees are afraid of what telling the truth might do to the status of their jobs.

The issue is that as truth-telling declines, cost, bureaucracy, redundancies, and a lack of confidence in the future all rise, warns Root.

They specifically called out eight common fears that drive employees to guard their words.

  1. The fear of indictment for past performance
  2. The fear of being branded and punished for not being on board
  3. The fear of offending a teammate or colleague
  4. The fear of not being accepted by the team
  5. The fear that speaking the truth will zap valuable time and energy and never be resolved anyway (don’t open a can of worms)
  6. The fear of not being valued if I say what I really think
  7. The fear that it is just not safe to talk about the truth
  8. The fear of letting them know you don’t have it all figured out

Managers: Provide air cover and encourage employees to be authentic.

Regardless of how hard you try, organizational change cannot be morphed into an industrial process. It’s not a mechanical nor formulaic system where you’re guaranteed a positive outcome by sticking to a script. Change is a very human experience; it’s organic.

To encourage employees to open up and be honest, and to support change momentum, managers have to provide the right conditions. In the words of Sir Ken Robinson, British author, speaker, and advisor, managers have to shift their mindset from “command and control” to that of “climate control.”

Regarding honesty, we’ve all been in meetings and, due to the fear of seeming incompetent, have held back questions or ideas. It’s unnerving to feel like you’re in an environment where everything you do or say is under a microscope. Understandably, it keeps you from disclosing information and feelings.

But imagine a different setting. A situation in which everyone is safe to take risks, voice their opinions, and ask judgment-free questions; a culture where managers go first, provide air cover, and create safe zones so employees can let down their guard and speak up.

That’s the goal.

Michael Schneider Human capital specialist, Welltower

Source: 8 Fears That Prevent Honest Employees From Telling Managers the Truth

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** Please Like the Video and Subscribe, Thanks ** So what’s the right strategy to dramatically increase employee engagement in your organization? Well let’s first talk about the wrong strategy… Usually, someone from HR has to convince the CEO to spend money on an employee survey. And when the results come back, the data is hoarded by the senior leadership and a committee is formed to brainstorm ways to improve engagement. The committee implements things like an employee appreciation day, an awards program and perhaps even a tweak to the benefits. But the problem with this approach is that over seventy percent of the variance in engagement correlates to the manager. In other words, who your boss is. Front line leaders are the regulators of engagement. So all those top down ideas don’t matter if you’ve still got the same boss, and if your boss hasn’t changed his behaviors. The right employee engagement strategy instead of being top down, is from the bottom up. First, if you want to improve something, measure it. So you do need to conduct an employee engagement survey. Second, make sure each manager gets her own score report. What is the engagement score for her team, and how does it compare with the average score throughout the company. Finally, third step…have managers shares their results with their own teams. It’s not an HR meeting, nothing fancy or formal. Grab a pizza, get in a conference room and do it over a long lunch. The manager is the facilitator, not the problem solver. What areas did we do well in? What should we focus on for improvement? Because the front line workers are the ones who completed the survey, THEY are the only ones who can tell you what needs to change. The answers can’t come from above. -~-~~-~~~-~~-~- Most Recent Video: “How To Talk ANYONE Into ANYTHING | Negotiation Tips From Former FBI Negotiator Chris Voss ” https://www.youtube.com/watch?v=7jqj3…

There’s No Such Thing as a ‘Sometimes’ Flexible Schedule and ‘Occasional’ Remote Work Policy. Here’s Why

Note: Inc.’s Ask a 20-Something series offers sage advice for navigating all manner of workplace issues, from the perspective of a young employee.

My under-30 employees have recently been lobbying for flexible hours and work-from-home policies. I’m convinced they’re just going to abuse those perks, and our productivity will nosedive. Is there an easy way for me to meet them halfway?

Nope.

Before my editor chews me out for writing a one-word advice column, let me explain: Flexible hours and work-from-home policies are all-or-nothing propositions. If you institute half-measures–offering these policies only sometimes, or to some employees but not others–you’ll come across as inconsistent, or worse, as playing favorites. So, no, you’re not going to meet your employees halfway here.

These policies function on accountability and trust, and clearly, you don’t trust your young employees. I’ve gotta say, that seems pretty paranoid to me. Think about the last time you took a sick day. Did the entire office fall into shambles in your absence? If not, it sounds like you need to do some serious self-reflection here. Figure out where those trust issues come from.

And if your office did fall apart, I don’t think your under-30 employees are entirely to blame. Either you’ve made some serious hiring mistakes, you’re terrible at motivating your employees to buy into your mission, or you’re doing too much yourself and not delegating important work to others.

Let me dispel a myth for you: Young workers aren’t trying to game the system. Your average 20-something is well aware that it takes hard work and dedication to get ahead, especially because we constantly find ourselves fighting against the (very dumb) stigma that Millennials are inherently lazy and entitled.

That stigma colors everything you tell us. If anything, we work harder than usual to make our presence known to our bosses when we work remotely, because we believe we can’t rely on our work to speak for us. When you say, “I need you in the office,” here’s what we hear: “I don’t trust you to do your job unless I’m literally watching you work.”

I’m not going to lie. That’s hurtful.

Just for the sake of argument, let’s assume I’m right. It invites the question: Why do your under-30 workers want flexible hours and work-from-home policies? What a great question. You should ask them. Out loud. With words.

Maybe they work second jobs to help pay off their student loans. Maybe their commute sucks–a 2018 study from HR consulting firm Robert Half found that 23 percent of workers have quit a job because of their commute.

Or, maybe they’re just trying to get a little more sleep–which would make them more productive, not less. A 2018 study published in the journal Sleep, for example, found that sleeping five to six hours a night cuts your productivity the next day by 19 percent, compared with a baseline of seven to eight hours per night. Nineteen percent!

When you learn the reasons behind their request, you’ll have a much stronger idea of how the added flexibility might benefit them–and you. That’ll help you make an educated decision. And don’t forget: You can always implement these policies on a limited basis, especially as a way of testing the waters. Designate a single work-from-home day each week, or try it on a month-by-month basis. See what happens. You may be pleasantly surprised.

To submit a question for Ask a 20-Something, email calbertdeitch@inc.com. Your query could be featured in a future installment.

By:  Cameron Albert-Deitch Reporter, Inc.

Source: There’s No Such Thing as a ‘Sometimes’ Flexible Schedule and ‘Occasional’ Remote Work Policy. Here’s Why

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Visit our website for more info: http://www.doverecruitment.com.au/ Regardless of the size of your business, policies and procedures in the workplace have never been more important. Regulations, legislation and codes of practice are forever changing, so it’s important to ensure you remain compliant. In this episode, Michelle from Dove Recruitment explains the difference between policies and procedures. She explains that policies act as a guideline for all decisions made within the organisation, and ensure day to day operational tasks meet the legislation requirements that are relevant to your industry. Whereas, procedures explain how to perform day to day tasks and duties in line with company policies. Not only that, but Michelle outlines the numerous benefits having policies and procedures provide to your business. Some of these include: -Consistency with your company values and relevant legislation -Proof that your business is operating in a compliant, efficient and professional manner -Assisting with company and staff performance reviews and assessments -Providing framework for business structure, business planning and job descriptions If you don’t have current policies and procedures in place and have no idea where to start, why not get in touch with your relevant industrial relations body for assistance.

The World’s Best Employers 2019: Alphabet Takes Top Spot, Followed By Microsoft And Red Hat

For the third year in a row, Alphabet is ranked first on Forbes’ Global 2000 list of the World’s Best Employers. The tech juggernaut and Google parent company is followed by Microsoft, which is ranked second, and open-source software producer Red Hat, ranked third. Apple and SAP round out the top five.

To create the 500-company ranking, Statista analyzed 1.4 million recommendations sourced from a global poll and several regional surveys. Among other questions, respondents around the world were asked to rate their own employer and the likelihood that they would recommend this employer to a friend or family member. They also rated other employers they admired.

Though this methodology put Alphabet at the top of the list, it doesn’t account for what in many ways was a tumultuous year for the company. Google employees made headlines last November after they organized a series of high-profile walkouts in response to the company’s handing of sexual harassment claims. Thousands of employees participated. In a letter published by New York magazine, the organizers of the walkouts said they demanded “an end to the sexual harassment, discrimination, and the systemic racism that fuel [Google’s] destructive culture.” Google vowed to improve its policies in the wake of the massive protests.

Today In: Money

Google’s treatment of its temporary and contract workers has also drawn scrutiny this year. In April, the company announced that it will require that these types of workers receive a $15 minimum hourly wage and comprehensive healthcare benefits.

As of October 18, 2019, Alphabet had a market cap of roughly $870 billion. More than 100,000 employees work under Alphabet’s umbrella, and according to a recent SEC filing, the majority of the company’s new hires last quarter were engineers and product managers. The company reported revenues of $38.9 billion last quarter—an increase of 19% versus the same period last year.

Open-source and cloud software provider Red Hat, a newcomer to the list, was acquired by IBM this summer for a whopping $34 billion. After the deal closed, IBM chief vinancial officer James Kavanaugh said that the company had hired 1,000 new employees to cope with growing demand.

While the top spots on this year’s Best Employers list are dominated by tech companies (including Cisco at No. 8, Amazon at No. 10 and IBM at No. 11), the finance and banking industry was the best-represented on the list as a whole. Fifty-two regional banks made the top 500, including Switzerland’s Banque Cantonale Vaudoise at No. 30 and India’s HDFC Bank at No. 119. Thirty-two investment services companies also made the cut, including Berkshire Hathaway at No. 26 and the Japan Exchange Group at No. 38.

Just like last year, companies from the United States accounted for nearly two fifths of the list, including seven of the top ten. Seventy-one companies from China and Hong Kong were featured on the list, though just one company from that category broke the top ten (China’s Contemporary Amperex Technology, at No. 7). Employers from India accounted for the third-largest category, with 33 companies represented, including construction services firm Larsen & Toubro (No. 29).

This list is based on the 2019 Forbes Global 2000 list, which tracks the world’s largest public companies. Last year, companies on the list accounted for more than $40 trillion in annual revenue and upwards of $186 trillion in global assets.

Follow me on Twitter. Send me a secure tip.

I’m an assistant editor on Forbes’ Money team, covering markets, fintech, and blockchain. I recently completed my master’s degree in business and economic reporting at New York University. Before becoming a journalist, I worked as a paralegal specializing in corporate compliance and the Foreign Corrupt Practices Act.

Source: The World’s Best Employers 2019: Alphabet Takes Top Spot, Followed By Microsoft And Red Hat

94.3K subscribers
This video ranks the top 10 most valuable publicly traded companies in the world from 1997 to 2019 based off of market capitalization. Market capitalization is calculated from the share price of a stock multiplied by the number of outstanding shares. Figures are converted into USD (using rate from selected day) to allow for comparison. If you have any feedback on the video or have any ideas of what you would like to see ranked in future videos then let me know in the comments! Also, you can subscribe here:) https://www.youtube.com/channel/UCFRo… Facebook: https://www.facebook.com/Rankingthewo… Instagram: https://www.instagram.com/rankingthew… Twitter: https://twitter.com/RankingTheWorld Datasource: Financial Times Music: Curse of the Scarab Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/b…

 

The Most Important Hires You’ll Make Are Your First Employees. So How Do You Spot a Good One?

We all know how important employees are to any company. Payroll is often your biggest expense. It takes A-plus employees to build a successful business, and if you’re going to spend most of your waking hours at work, why not spend it with people you enjoy?

I think hiring great talent is absolutely critical to get right, and it’s why one of my favorite questions to ask other founders is “What’s your favorite interview question?”

Doing so has helped me unearth some gems that I now include in my own interviewing practices–like the all-revealing “On a scale of one to 10, how lucky are you?” (which is an instant gauge of how positive and glass-half-full a candidate is — I love answers that are 8-plus).

Asking smart questions is helpful, but only when you know what to look for. Having spent my career in companies of all sizes, I do think there are specific qualities that make up a phenomenal early-stage employee–the person you want in the trenches with you when you’ve got fewer than 50 employees.

Here’s what to look for in your future star employees:

1. Generalists, generalists, generalists

Your biggest pain point today may be marketing. But what about tomorrow? In an early-stage company, you need well-rounded players who are willing to roll up their sleeves and figure out how to do anything and everything.

The best early hires I made at LearnVest could transition seamlessly from running a focus group to understanding our customer acquisition stats to reviewing a legal doc. They were title agnostic and open to pitching in wherever they were most needed. While it might seem counterintuitive, deep expertise in a niche area is less important at this stage than finding an athlete who can do anything and everything.

Often, people who fit this description are inbound candidates. They’ve gotten scrappy and identified your company as an exciting opportunity. They want to be at a startup because they want to have a voice in shaping a company’s future. Ask questions like, “What gets you out of the bed in the morning?” to verify that their motivation is intrinsic and driven by a need to contribute in any and all ways.

2. No egos

One of my mentors once told me, “If you knew what it took to start a company, you’d never do it.” Building a company is hard.

That’s why there’s no room for egos–both literally and figuratively. For starters, chances are your first HQ will be small and a rude awakening for any employee coming from a corporate boardroom. But beyond that, everyone needs to check office politics at the door and bring a team-first mindset.

In the interview process, dig into how a candidate worked with others. Ask them to describe a group project they worked on. Is this someone who’s willing to do whatever it takes to help the team? (For example, before our first board meeting at LearnVest, I was the one cleaning the bathroom before our board members came in. At the end of the day, they appreciated how “all in” I was!) Does this person share credit and praise their co-workers?

Early-stage teams are often limited in the number of teammates, which means that everyone has to give that much more. Think of it as a startup golden rule: Be the kind of employee you would want to work with. For me, that means zero egos.

3. Believers

In the earliest days, your success isn’t tangible yet. Employees have to derive motivation from a bigger vision and unite around a shared mission.

Simply put, you can’t have any skeptics at this stage. Look for people who bring positivity, optimism, and a can-do attitude. It is these believers who will act as your culture builders, and once your company scales, they will help you carry your original mission forward.

It can be hard to spot this quality in an interview process, so be sure to spend some time on the topic in any reference calls you do. Try to understand how this person has weathered challenges in past roles (from someone other than the candidate).

4. Grit

Growing up, I was a competitive diver. One of the best lessons it taught me was grit. No matter how your dives go, you have to get back up on the platform and keep pushing yourself. You have to fully commit to every move you make, despite the pressure for perfection and the eyeballs on you.

You need that same grit in your early employees. There’s so much competition–both from incumbents and other startups that will inevitably appear in the same space. The curveballs are endless. Or, as I’ve said, being an entrepreneur is like getting punched in the face every day. Those who succeed are those who have grit, pure and simple. It’s OK to take a day off or walk around the block on a challenging day, but only the resilient ones who show up every day, ready to face the next task, make it.

I’ve long been a believer in setting goals that seem too far out of reach. When you strive for something that seems impossible, you’ll often end up going much farther than if you set the bar too low. The best gritty employees I’ve seen have been able to reach those far-out goals–because they continue to push and come up with creative solutions. In practice, this might be your business development lead who repeatedly gets a no from your dream partner. Instead of letting it lie, they come up with a creative solution to nudge the door open and end up inking a deal after all.

As the saying goes, “When the going gets tough, the tough get going.” The best startup personalities are those who are motivated by roadblocks. There’s no time to shut down for a pity party–you have to keep working harder, smarter, and better.

By: Alexa von Tobel

Source: The Most Important Hires You’ll Make Are Your First Employees. So How Do You Spot a Good One?

Get your Bulk Hiring happen in just 4 days with unlimited free job posting only at Freshersworld.com.(To register : http://corp.freshersworld.com?src=You…) ,This video will give you an insight about Ways to improve your hiring process. One of the most important ongoing tasks you’ll have as a business leader is hiring. It’s not easy, though; it’s a time-consuming process with monetary and reputational consequences if you make a bad hire. Taking the time to find the right person — someone who is not just technically capable but also a good fit for the company — is important. Companies that are successful in hiring have a process that includes attracting high-quality candidates, evaluating them in several different areas, and taking the time to get to know the people in different ways. Here are some tips to build and improve your own hiring process. 1. Job descriptions. If you’re not careful, the way your job posting is written can deter great candidates from applying. The more successful postings included statements such as “We seek to provide employees with constructive feedback to foster their career growth,” and “You will have many opportunities to collaborate with talented people.” The takeaway? Put more of the focus on what your company can do for potential employees, and you’ll attract candidates who better fit your needs. 2. Embrace digital trends and social media. Most people want to work for companies that keep up with the latest tech trends Another good way to embrace the digital side is to make sure your career site is mobile-friendly. 3. Focus on soft skills. Although the right skill set may seem like the most important factor in whether a candidate is a good fit for a particular role, the truth is that skills can be acquired, but personalities cannot. 4. Check social media profiles. Like most employers, you’ll probably do a background check (or at least a quick Google search on the candidate’s name) to see what comes up about that person online. But if you’re not looking through the candidate’s social media profiles, you could be missing a key way to find out more about the individual as a person and an employee — for better or for worse. While it’s legally risky to allow a candidate’s social media activity to factor into your hiring decisions, it can give you a better picture of someone you’re interested in hiring 5. Fit the personality to the job. A candidate’s personality is another important factor to consider. For example, a trait such as empathy would likely be much more important for a nurse or a social worker than it would be for a tax attorney or a computer programmer. 6. Improve your interviews. Eighty-two percent of the 5,000 managers surveyed reported that the interviewers were too focused on other issues, too pressed for time or lacked confidence in their interviewing abilities to pay attention to red flags candidates exhibited during the interview process. Do not overlook on factors like coachability, emotional intelligence, temperament and motivation. 7. Let candidates interview you, too. Allowing prospective employees to interview you will give you a chance to see what’s important to them. Plus, it will give candidates a chance to determine that they want to keep pursuing a job at your company, or to decide that it’s not the right fit for them. 8. Keep an eye on your reviews. Potential employees often seek insider information about companies they want to work for, and this includes salary estimates, interview tips and reviews from current and former employees. Top candidates may not even apply in the first place if they don’t like what they see: 69 percent of job seekers said they would not take a job with a company that had a bad reputation, even if they were currently unemployed. On the flip side, 94 percent of respondents said they’re likely to apply for a job if the employer actively manages the employer brand by responding to reviews, updating the company’s profile, and sharing updates on the company’s culture and work environment. And if you have a lot of negative reviews from former employees, it may be time to work on your company culture before you try to fill any open positions. Freshersworld.com is the No.1 job portal for freshers jobs in India. Check Out website for more Jobs & Careers. http://www.freshersworld.com?src=Youtube Here is the Android app of fresherworld.com now we are more closer to you : Link : https://play.google.com/store/apps/de… ***Disclaimer: This is just a training video for candidates and recruiters. The name, logo and properties mentioned in the video are proprietary property of the respective organizations. The Preparation tips and tricks are an indicative generalized information. In no way Freshersworld.com, indulges into direct or indirect promotion of the respective Groups or organizations.

Billionaire’s Secret Buyout Formula: 110 Instructions and an Intelligence Test – Miriam Gottfried & Laura Cooper

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Billionaire investor Robert Smith believes corporate buyouts can be reduced to a formula. His private-equity firm, Vista Equity Partners, has codified that notion into 110 acronym-heavy directives known as Vista Best Practices. They are secret—stored on a company server that makes a record every time anyone downloads or prints them. Target companies must have “critical factors for success,” or CFS, within their control. Employees of acquired companies and candidates for hiring must submit to tests. A personality test aims to determine which of them are suited to which jobs. Salespeople are better off being extroverted, and software developers more introverted………

Read more: https://www.wsj.com/articles/billionaires-secret-buyout-formula-110-instructions-and-an-intelligence-test-1531151197?mod=djmc_pkt_ff&tier_1=21662325&tier_2=dcm&tier_3=21662325&tier_4=0&tier_5=4508749

 

 

 

 

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9 Things That Make Good Employees Quit – Travis Bradberry

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It’s pretty incredible how often you hear managers complaining about their best employees leaving, and they really do have something to complain about—few things are as costly and disruptive as good people walking out the door. Managers tend to blame their turnover problems on everything under the sun, while ignoring the crux of the matter: people don’t leave jobs; they leave managers. The sad thing is that this can easily be avoided. All that’s required is a new perspective and some extra effort on the manager’s part……..

Read more: https://www.forbes.com/sites/travisbradberry/2016/02/23/9-things-that-make-good-employees-quit/#b9248d81b839

More ref: https://youtu.be/KASPyVCJyog

 

 

 

 

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