Posts Tagged ‘Bruce Clarke’

Help Employees Invest in Their Future

Thursday, November 10th, 2011

Many workers who have great concerns about their financial future are living from paycheck to paycheck as the country’s worst recession continues. According to a report from the Employee Benefit Research Institute, almost half of all Americans will not have enough money saved for their retirement years.

In his latest N & O column, “The View from HR,” CAI’s CEO Bruce Clarke dispenses helpful information regarding retirement savings to managers and their employees. Bruce says there are several reasons why people elect to not save: being young, weary about the stock market, laziness, general confusion and thinking their salary rate is too low.

In a recent study, ING found that 44 percent of its survey respondents said they probably would not be saving for their retirement if they did not have a plan from work.  Fifty-two percent of those participants said that their employers, above family and friends, have the most influence in getting them to start saving for retirement.

As an employer, knowing that employees place importance on company retirement plans should prompt you to help them utilize tools and information that are at their disposal for planning a successful retirement. Try the strategies below to help them invest in their future:

Communicate and Educate

Many workers believe that their organizations are one of the only credible sources for retirement information. Communicate to your staff why saving for the future now is the best way to be financially stable in retirement. Constantly remind workers of the different saving options and tools your company provides. Make sure they understand each option, and help them choose the best one for their situation.

Request Feedback

Because budgets continue to get cut, organizations are looking to reduce funding in certain business areas, and benefit allocations tend to go on the chopping block. Instead of drastically reducing the cost of each employee benefit, such as retirement and paid-time off, ask employees how they would prefer their benefits to be distributed. Offer workers several options, and have them vote to choose the best option for the overall organization.

Keep It Up

Continue to offer your employees the best savings and retirement plans your organization can provide. If your company elected to match employee savings in their 401(K)s, do not stop because budgets are smaller.  If your company is really unable to maintain the company match, ask employees to increase the amount of money they are saving to make up the difference. Consistently communicate the importance of saving.

“The lack of financial literacy is a bigger cause of our failure to prepare for the future than the actual inability to take small steps,” Bruce says in his column.

Educate your employees on the importance of saving for their retirement, and keep them informed on any changes to your workplace benefits.

Photo Source: Keoni Cabral

Show Employees They Are Your Company’s Greatest Asset

Tuesday, October 25th, 2011

employees are assetsBruce Clarke, CAI’s CEO, discussed assets employees or job candidates can offer employers in the October 23 edition of his News and Observer column, “The View from HR.” Bruce said that the single most important asset employees can offer is their spark.

“When employers see no spark, they assume there is no engine,” he said.

Well if their greatest asset is their spark because it shows their willingness to learn, work, grow and produce for their employers, then they are essentially their company’s greatest asset. Business cannot survive without the efforts from employees.

As an employer, it is not hard to forget that your staff is your greatest asset. A down economy, lean budgets, and limited resources can stress out the strongest organizations, but not realizing that your employees are critical to your organization’s success can cause dismal effects. The American Institute of Stress said that US industries lose almost $300 billion per year because of absenteeism, diminished productivity, turnover, and medical, legal and insurance fees related to workplace stress.

Unhappy employees who feel unappreciated are a disservice to organizations because they interact with customers daily, promote and sell products, and cultivate the processes that help drive business. When given proper attention, workers become motivated to achieve company goals. They will express creativity and a desire to learn if they are engaged with their organization.

There are several steps that can be made to engage and satisfy your most important asset even if your company is struggling with budget cuts or has downsized staff. The strategies below will help foster a work environment that encourages commitment and maximizes productivity: 

1. Acknowledge Their Importance

An employer-employee relationship should work as a two-way commitment. If an organization wants its workers to perform at their best, then it needs to make an effort to give them its best, whether it is through information, training or resources to complete their jobs. 

Frequently tell employees that their efforts are appreciated and support the organization’s survival. Always try to keep commitments with them, and never overpromise if you cannot deliver. This will show them that you respect them, their time and their work, which, in turn, will increase the level of respect they give you.

2. Be Truthful and Transparent

Being transparent and telling the truth are essential to maintaining good relationships with your employees. Your staff members spend most of their week working, so their need to understand how the company is doing should not be ignored.  During staff meetings or through company-wide emails, alert them of important changes, data and other items to keep them informed.

Do not avoid questions posed by staff that might be uncomfortable or have unfavorable answers, such as, “How are we doing financially?” Answering questions will eliminate uncertainty even if the outcome is undesirable. Keeping your staff up-to-date with company news will help them feel plugged in to the organization and increase their commitment level.

3. Help Them Reach Their Individual Goals

Employees know they were hired because of the skills and knowledge they could offer. They know their job description, and they work to deliver on expectations. For all of the work they put into their organization, they deserve its support.

Show your employees that you are grateful for their contributions and want to help them succeed. Offer them opportunities to learn new skills and information through training. If a professional group related to their field exists, encourage them to join. Additionally, ask them what they would like to accomplish during their time at the organization.

4. Ask for Their Opinions

Employees want to know that their views matter to their organization. They put in a great deal of effort to keep their companies running, so their desire to have input is expected. Because they spend ample time with customers and products, they have first-hand accounts on what is working and what is not.

They will appreciate being part of the decision-making process because it shows their organization has confidence in them. Include staffers in discussions about improving business or strengthening customer service. Get their feedback on company policies and recent enterprises. Do not shy away from opposition. Allow employees to express their ideas and different methods for tackling projects.

For additional tips on improving employee morale and engagement, please contact a member of CAI’s Advice and Counsel at 919-878-9222 or 336-668-7746.

Photo Source: Highways Agency, Lachlan Hardy

Reasons to Say Goodbye to an Employee

Tuesday, September 6th, 2011

Firing

CAI’s President and CEO, Bruce Clarke, recently shared a few surefire reasons to terminate an employee to Fox Business News. As the economy slowly recovers, it is important to maintain a great employee culture through increased morale and engagement. Ensuring your company has team players dedicated to their work is also important when trying to maintain success in tough economic times. If any of your employees do the following, it might be wise to consider letting them go:

  1. Excessive Tardiness: There are times when tardiness is unavoidable, but if an employee constantly arrives to work more than a few minutes late or takes a longer than average lunch break, he is doing a disservice to your organization. Issuing a warning to employees who have an unreasonable amount of tardies may work to alleviate the problem. However, if warnings do not work, firing is an option.
  2. Being a Debbie Downer: Employers and employees are already trying to survive the recession, so a staff member with a bad attitude can create chaos for everyone. Leaner staff and fewer resources mean that people have more to do, and an employee who is a not a team player will not last long. Gossip, inappropriate comments and vulgar language are among several items that senior management should not tolerate.
  3. A Social Media Dependency: The internet has made connecting with people a simple process. Socializing through any of the network-based websites, such as Facebook and Twitter maybe fine in moderation. However, if you have employees that do more tweeting and connecting than completing their actual assignments, it is time to bolster your company’s social media policy. Watch out for employees who post unfavorable information about their colleagues or place of work. This type of communication is grounds for firing.

For more information and tips related to employee termination, please contact a member of CAI’s Advice and Counsel Team at 919-878-9222 or 336-668-7746.

Photo Source: Paul Stevenson

Healthcare Reform: Six Critical Questions Employers Need to Answer

Thursday, July 29th, 2010

Last week I wrote about the many consequences of healthcare reform based on the prognostications of medical industry observers.  In this post I’ll share what I expect to happen with healthcare reform and six questions which I think employers need to start finding the answers.

My Prediction

Healthcare reform is so big and far reaching that no one can accurately predict the end result.  The literal language of a new law is never the last word.  Regulators are working hard to add meat to the bones.

Take this to the bank: your renewal and strategy meetings with plan advisors will be 50 to 80 percent different in coming years, and it will include tax, penalty, network, employee household income, essential coverage and plan viability issues you have never confronted.  I believe you can count on rules making it more attractive for some employers to pay the fine and to turn a plan over to the Exchanges, and to make the single-payer option more attractive (or necessary) to the public in future years.

An example is the recently issued rule defining “Grandfathered Plans,” making it unlikely any plan can meet the standard for very long.  Whether this is good or bad is less important than the effect on your own planning process.  Will the Exchanges become viable alternatives accepted by employees as substitutes for legitimate, mainstream employer plans?

I believe we will eventually face bifurcated healthcare: one for most of us defined by the “essential coverage” rules and offered increasingly by Exchanges; and one for some of us defined by supplemental plans providing better access to physicians and non-baseline services.

How to Prepare

An important role for company executives is to ensure a strategy for marketplace competitiveness into the future.  Longer-term thinking will be rewarded.  Begin seeking answers to these questions:

1) Will employer-sponsored healthcare remain a key part of your total rewards plan into the future?  What are the alternatives?

2)  Is it worth the contortions to remain grandfathered if you are likely to lose that status soon?

3) Will new supplemental benefits strategies, or even wage supplements in lieu of coverage, become the differentiator?

4)  If predications of a de facto single payer system come true in the medium term, what is the best transition plan for your workplace?

5) Does your size affect your decision-making?

6)  Is your benefits consultant up to the challenge of teaching you and considering all options and business needs? Put them to the test now and stay informed.

Healthcare reform is one of the major themes to be covered at CAI’s 2010 Compensation and Benefits Conference on Sept. 16-17 in Raleigh.  Please visit www.capital.org/compconf for additional information.

Photo Source: Valerie Everett

Welcome to Workplace Insights

Thursday, April 8th, 2010

Welcome to the first installment of Workplace Insights!  

The blogs posted here will come from me and other leaders at CAI.  We’ll cover specific concerns regarding HR, management, hiring and firing, engagement, retention, labor issues, training, payroll and more – all the issues that have a real impact on your day-to-day work, with a focus on North Carolina.  We hope Workplace Insights will be a key resource in making your organization a great place to work in this state.

For nearly 50 years, CAI has assisted executives and managers in more than 1,000 member companies in the greater Research Triangle, Piedmont Triad and 65 central and eastern counties of North Carolina, from answering phone and e-mail inquiries to hosting informative conferences.  Workplace Insights offers us another platform to help you and your people reach your goals.

We will update this blog frequently with our own stories.  To keep up with the latest information and stay involved, we invite you to subscribe to our RSS feed so that we can notify you when new items appear.

Thank you for visiting our blog.  We would love to hear your comments and suggestions.  This is a two-way conversation we want to have with you, so let us know what you think.