HR Quarterly Index Reports Are In..
Small to medium businesses are certainly struggling with their
confidence levels, with a sharp drop after last quarters high level.
The uncertainty of the election played havoc with the perceived inability to finance capital projects reflecting the wider market, not just for SME's. It's certainly not all bad with expectations for the current quarter being far more positive, especially in relation to sales and profitability!
Within the top 3 issues, the main barrier and key issue to taking on staff returns as the lack of work and sales for the small to medium business sector.
For the New Zealand Market, Business Confidence returned to that status quo for the third quarter. Showing that confidence levels rising in December 2018 were an abnormality rather
than a righting of the ship.
Unemployment expectations kicked significantly due the seasonal nature of New Zealand's employment, although this is still more significant than normal. The current rate of unemployment does not match these expectations, with a current unemployment rate of just 4.20%.
The reduction in the financing ability may have substantial impacts in the future as capital projects reduce due to the funding squeeze.
To read more and get your own copy of the March 2019 HR Quarterly Index Reports click below to download.
The More Things Change the More They Stay the Same..
This Quarter overall business confidence has remained the same despite the make up of the expectations changing, in some instances significantly.
The top 3 issues have changed for the first time in months with Competition now a larger concern for businesses than cashflow.
There is also an expectation that the increase in employment costs and new employees will lead to an increase in profitability, particularly when matched with a lower expectation for Capex.
To read more and get your own copy of the Q3 Australian HR Quarterly Index for 2017/18 click to download.
Accelerating Performance through Multi Dimensional Engagement
3 out of 4 businesses have an opportunity to improve their business results – today!
Some employees rest before they're tired. Others perk up in the parking lot at 5 o'clock. Some have quit long ago but have forgotten to tell you. All these employees show up to work every day and give you the minimum effort to stay afloat.
Energised people typically choose to behave in ways that enable success. Conversely, when people are drained they become more likely to disengage and act in ways that undermine not only their own success but also that of their team. But what’s the difference and what does it mean?
Employer engagement is a unique factor within the business sector of organisations with less than 200 employees. The engagement of a business owner within their own business is equally important as that of the employees. If the business owner isn’t engaged and focused on the strategy & operations of a business, the entire organisation often suffers. Persisting with the strategy of ‘business as usual’ for an extended time is one of many warning bells of poor employer engagement. This, of course, can have a flow-on effect on the employees and instill a disillusionment of leadership.
Disengaged employees are just as dangerous, especially for SME’s. If not addressed promptly this employment relationship can end up quite destructive, not only to the employer but the whole organisation and business performance as well.
What can you do? How can you overcome this challenge?
Historically engagement was viewed one-dimensionally, but through the HR Coach Research Institute a key finding was the impact of client engagement – the third dimension of engagement! Exploring further into the concept of client engagement and its impact on organisations, the research found Employers in high performing organisations were 24% more satisfied with Customer Service levels of employees than those employers in low performing organisations. This is one of the most significant variances in research, indicating client engagement is critical for overall improved organisational performance. The finding was then further supported when the employee data came in. The results identified employees mirrored employers when talking about their satisfaction with customer focus, feedback and needs. In turn, the higher the employee results, the higher the overall performance of the organisation!
Client engagement completes the business engagement cycle. The critical elements to engagement include the employer who engages with their strategy and the employee who engages with their work, both focus on the client creating a sense of purpose for both the employer and employee.
The HR Coach Research Institute identified critical models like The 5 Client Engagement Factors and found when incorporated within a sustainable management system this gives businesses the tools to fast track their overall strategy, making it also relevant for those businesses stuck in the ‘business as usual’ paradigm.
Another identified model is the Client Acceleration Programme; this is designed to transform an organisation focus from the point of sale to the point of value - operating alongside employee engagement. These along with the Strategic Action Model™ (SAM) are ideal to use as tools to fast-track client engagement for improved business performance as well as increasing ROI - but don’t stop there.
To find out more about Accelerating Performance through Engagement, SAM, Client Acceleration Programme, Client Engagement or Improving performance and profitability, please contact your local HR Coach or the HR Coach corporate office on 1300 550 674.
You can also download our white paper here; Accelerating Performance through Client Engagement
This Quarter business confidence is showing caution with a dip matching the volatility of
The top 3 issues have taken a shift this quarter with business owners focus on: lack of work/sales; finding and keeping staff; and, cashflow/debtor management.
For Human Resources the number of average weekly job ads also supports this concern of finding and keeping staff!
To read more and get your own copy of the Q2 Australian HR Quarterly Index for 2017/18 click here to download.
Back at work and thinking that you could be doing more? You might be a corporate refugee.
Refugees are always a hot topic, but not all of them come from countries. The term ‘corporate refugee’ has been around since
the 1980’s, but in the ever expanding and contracting markets of today, the term has grown to cover those corporate high flyers who make the jump to run their own business on their own accord.
When the term was originally coined, corporate refugees were mid to high level corporate managers who had found themselves out of a job through no fault of their own. They had gone from highly
secure positions, with pay cheques to match, to unemployment and a job market that no longer valued their contribution. Enter the 2010’s, where the high flyers weren’t always being pushed into
the unemployment pool, but many were jumping for the freedom and power that being a ‘corporate refugee’ could provide.
The very security that was key to long term employment in corporates is now the reason why there is a growing movement to
corporate refugees by election. Take Peter McCleary for example, the Managing Director of HR Coach Australasia. Peter had spent 20+ years in the c-suites of ASX listed or public sector
organisations, only to find he was often reporting to people who had different values and beliefs, that his influence could only be pushed so far and that the long hours were for the growth of
the share price or payment of dividends. With children still at private school, a mortgage still to pay, he had to find an opportunity that met his professional needs, while meeting his financial
requirements. Peter took the plunge like so many before him and so many after him. He left his secure corporate job and started his own consulting business where he set the hours, who
he worked with and what the direction the business would take. But after a year or two, the things that he had taken for granted in his corporate roles were beginning to become glaring gaps in
his own professional consultancy business. ‘Running your own business is rewarding, but it can become extremely lonely without colleagues to talk with and being in charge of product
development, business development and the client facing work meant that the free time I was craving with my family was often taken up with building new products to go to my market with’, say
Peter. There had to be a way where the freedom of running your own consulting business was not impacted by the constant demand to build client offerings – and having peers to talk with was an
added bonus. Franchises or Licence models offer many of these freedoms but also provide the backend support often needed. In Peter’s instance, he found the HR Coach licence model and never looked
If you feel like you might be ready to take the ‘corporate refugee’ plunge, ask yourself these questions:
If you answered yes to any of these questions than you might be a corporate refugee! If you are interested in running your own business, using your own skills and expertise combined with ongoing IP development and a truly collegiate feel, click below to review the HR Coach Business Feasibility Guide and start planning for the job you own on your terms.
This Quarter business confidence is up, with the score sitting at the equal highest level since March 2010! Good news for the Sales Value also which is on the increase, after a dip last quarter.
The top 3 issues have taken a shift this quarter with business owners focus on: lack of work/sales; finding and keeping staff; and cashflow/debtor management.
For Human Resources things are positive also with growth to the expected increase of the wages bill, and following on from last quarter a steady increase to 17% in businesses expecting to increase the size of their workforce!
Key indicators for this quarter are very positive - lets hope this feeling remains.
About the HR Quarterly Index Dashboard Report
The HR Quarterly Index Dashboard Report is a HR Coach Australasia initiative that reports on the business and human resource developments of the past quarter.
The report evaluates measurements of business confidence, policy changes, market volatility and people issues and identifies the perceived impact on business performance.
To read more and get your own copy of the Quarter 1 Australian HR Quarterly Index click HERE
Often in work, teams are thrown together based on experience and knowledge but little thought is actually placed on how the team will work together(or if they can work together!). Yes they have the ability to complete their individual tasks separately but how is the dynamic of the team impacting the results?
When emotional intelligence (EQ) first appeared to the masses in 1995, it served as the missing link between personality and IQ and helped explained how people with average IQs outperformed those with the highest IQs the majority of the time. Critically, those with high levels of EQ had the ability to overcome their IQ and personality shortfalls to become star performers and set themselves above the rest of the pack.
While personality and IQ can only marginally change over your lifetime (most research shows that these factors can only change by 1% over a lifetime), EQ can be developed over time.
The first 50 people to register their details below will receive a free hard copy of “Getting out of the Dog House’ – a 70 page parable which highlights how different personalities and team members can work together to get out of the dog house!
*Limited to 1 free book per person, free postage to Australian addresses only.
Since the 1980’s, employee satisfaction has been considered the driving metric in employee performance and, ultimately, business performance. The ROI has always thought to be that happy employees lead to a more productive workforce. However if this ‘productivity’ isn’t adding value to the bottom line, what does it matter?
Research from MITsloan in 2015 identified that employee satisfaction represents only 25% of what actually contributes to business performance – and the focus needs to be on engagement and alignment. Businesses that focus solely on satisfaction are missing 75% of the puzzle – and missing the bottom line value which comes from engaged and aligned activity.
HR Coach’s ongoing research in the Australian market since 2005, shows that there is a direct link between engaged employees aligned to the strategic goal of the business and business success. Businesses without strategic alignment are busy being busy, like gerbils on a wheel, and the only thing stopping them from exiting the market is the activity of their employees. They aren’t growing, they are just holding on. Focusing solely on satisfaction is the same as the finance team focusing solely on reducing expenses and not worrying about revenue and cashflow while still expecting the business to improve. Take a wholistic (engagement and alignment) approach to your business, and you will find that the wage payments you make every fortnight can actually drive exponential growth to your bottom line.
2014 research highlighted the difference between businesses with high levels of engagement and those with low levels of engagements. Highly engaged businesses had:
If you want to stay or become a high performing business, you need to measure the right things. Employee satisfaction counts, but it is not enough. Engagement and alignment are core.
To see how your business rates on engagement and alignment, visit www.starworkplace.com.au or fill in your details below and we will be in touch: