Welcome to this edition of our Business Performance eNews. Many new subscribers join us for the first time this month. We welcome you warmly and trust that you will find much that is useful. Last month, we heralded a new approach to human resource metrics and planning with the release of our new Workforce Segmentation and Reporting Pack. The author of this market-leading pack, Colin Beames, returns this month with a timely article on how to make your human resources information strategically significant for your organization.
Since the collapse of many high-profile companies, and even nation states, resulting from the global financial meltdown, getting employees involved in rebuilding businesses has never been more important. Unfortunately, the truth is far from good intentions. In our second article, our Managing Director, Leslie Allan, reviews the disconcerting results from the latest employee engagement survey. Read and enjoy!
Do you need help with your current or future project? Are you looking for a professional trainer, facilitator or coach? Check out our dedicated team of experts ready to assist you in a variety of specialized fields. In this issue, we introduce you to our leading expert, Leslie Allan. Find out what Leslie is up to in Meet Our Expert of the Month.
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Reporting Human Capital Data
by Colin Beames
Data Equals Knowledge and Power
Executives are data hungry and data needy. And knowledge is power. However, human capital is one of the least measured and analyzed investments - a weak link in the chain of corporate expenditures. Ideally, when it comes to making important decisions, information about the workforce should be provided at the same level of sophistication as is the case with decisions about technology, money, products and services. The same level of rigor and surgical precision that applies to managing and reporting on financial processes should also be applied to human capital.
Unfortunately, many Human Resources (HR) and people management measurement systems are weak or non-existent. Without valid and reliable people measures, politics fills the gap! The quality of measurement and reporting on human capital generally lags well behind that of other key assets of the business. This measurement and reporting deficiency has been instrumental in keeping HR from their legitimate "seat at the table".
What Gets Measured Gets Managed
Human capital systems and measures should be used by management to optimize the value they create through effective investments in the management of employees. Without the right data, executives have a less than adequate basis for informed decision-making when managing their most vital intangible asset. The phrase that "people are our greatest asset" becomes empty rhetoric!
Measurement drives behavior. Opportunity now beckons for HR professionals to "step up to the plate" by providing better human capital measures and reporting. In an era of talent and skills shortages, measuring, diagnosing and reporting on key drivers of performance and retention are essential for:
- people investment tracking
- continuous improvement monitoring, and
- managing risk
Read the rest of this article on maximizing the value of your human capital data.
Read our other new articles on managing your human capital.
For help with segmenting your workforce and developing powerful analytics, check out Colin Beames' comprehensive HR pack. Complete with workforce segmentation guide, outsourcing guidelines and reporting templates, the pack covers every aspect of maximizing your human capital. Find out more about Colin's Workforce Segmentation and Reporting Pack and download the free Introductory Chapters today.
"Colin Beames is a thought leader in this field and has developed tools and resources that enable the practical application of latest thinking and research in the area of people management."
John Cooksey, General Manager, Zenith Management Services
Employee Engagement Study Supports Employer Focus on Career Goals
by Leslie Allan
An employee engagement strategy is a powerful contributor to organizational effectiveness. In a global environment that is in a continuing and unpredictable state of flux, the understanding of what drives employee engagement needs constantly to be reviewed and renewed. The Right Management consulting group recently concluded a benchmark study into employee engagement in Australia and New Zealand with comparability to an earlier study completed in 2009. This study provides some valuable insights into changing trends.
The study analyzed data provided by 7,310 respondents: a representative sample across a range of predominantly private sector employers from ten key industrial sectors in both countries. The sample matched the workforce demographics on a range of factors, which includes age, gender and the nature of the industry and company size. The survey design provided for analysis of employee engagement factors in relation to leadership, organizational strategy, culture and communication; all as contributors to organizational effectiveness.
High performing and average organizations are positioned on either side of a gap that has widened in both countries since 2009, according to the study. There is an overall downward trend in employee engagement in New Zealand, with the size of the gap between high performers and the average having increased by 5% in the ensuing three years. Australia, however, shows a 5% upward trend in high performing organizations, whereas there has been a 2% decline for the average ones. The gap between high performing organizations and average ones in Australia has therefore also widened (by 7%).
Read the rest of the results and implications of this employee engagement study.
If you or your managers are struggling with implementing your employee engagement initiatives, then check out Leslie's change management pack. This acclaimed resource will guide you through every step of the change process with a wealth of worksheets, checklists and tools. Download the free introductory chapter and start using Managing Change in the Workplace today!
"Leslie Allan's book is such a gift to executives, leaders, managers and supervisors who want to initiate a change process in their organizations."
Dr. Maree Harris, PhD. (Director), People Empowered
Meet Our Expert of the Month - Leslie Allan
Have you met our team of expert consultants, coaches and trainers? This month we proudly feature Leslie Allan. Leslie is a leading consultant and author with over 20 years' experience assisting organizations improve their capability. His internal and external consulting roles have seen him implement quality systems, improve business processes, conduct strategic planning and roll out a range of change initiatives. Leslie has worked within a variety of industries and with organizations ranging from small business owners to leading multinational companies.
His particular passion is organizational and individual learning. Leslie has designed and implemented learning strategies and training systems and the full gamut of training programs. He is also the author of a number of books on learning and managing change and has published many business articles. Leslie is currently editing a series of new products designed to enhance the value of an organization's human capital. Contact us today to find out more about how Leslie Allan can help you improve the capability of your organization.
Visit our web site at www.BusinessPerform.com for lots of expert guidance and practical tools designed to help you get ahead of your competition. Also, be sure to pass this newsletter on to friends and colleagues who want to stay up with what's on. From all of us here on the Business Performance team, we wish you a productive month and look forward to communicating with you again soon.