Monthly Archives: October 2011

“Success Isn’t Permanent, and Failure Isn’t Fatal

The above comes from Mike Ditka, legendary Chicago Bears football coach and current sports commentator.

“Do something” seems to be the cry of politicians, governments, the stock market, and everyone who is getting something for nothing from someone. Sometimes “doing something” is the wrong thing.

Recently I was forced to re-evaluate our business model. The good news is that those of us in business have ability to see the results of our actions quickly. (Sometimes a lot quicker than we like!)

Have you looked at your own business/job to evaluate:
– What areas of your success may be “running their course?”
– Which are on the rise?
– Which are getting in the way?
– What should we be doing that will contribute more?

Securemploy has had a wonderfully successful program for 23 years, Securemploy Pinpoint Ads. As we asked above questions it was apparent this program had “run it’s course.” Technology had passed it by. That evaluation was hard. It had been the second most successful revenue generator in the company.

We evaluated the last option next: What were we doing that was getting in the way of our success? We were doing a lot of things that I really believe in and liked. Whoops! Believing in things is fine, but it’s no excuse for continuing programs that are marginal contributors. We could, and did, revamp some of the programs to “salvage them” until we can replace them. Others needed to get dropped.

Identifying existing programs that are on the rise was easy when we got the marginal stuff out of the way. Getting rid of marginal revenue streams gave us the time to concentrate on projects “on the rise” without adding staff.

Last question, What should we be doing that will contribute more? is always the most fun. Opening to new vistas gets the creative juices going. It’s fun and wonderful way to give morale a shot in the arm. We limited that to two meetings. Yea, I was accused of being an “old fuddy duddy.” (I’m sure that was cleaned up since I was in the room.)

This step was far and away the hardest given how fast technology is changing. We looked at things we had never considered before.

We fell back on some suggestions we have offered management companies.

All of us in hospitality industry know that buying the assets that would benefit our businesses is very difficult. We have also found that obtaining profitable management contracts is still difficult. Most management companies are left looking internally to see what they do better than competitors. Then identify how to monetize those services.

The good news? Those services already exist. That means a high profit margin on any of those services we can market.

Securemploy applied that rationale internally. It has identified some programs that appear to have good profit margins, can run for several years, and can be modified/tweaked as technology continues to advance, hopefully without major capital expenditures.

Yes, it was hard to drop a program that 23 year successful program. Mike is right, “success isn’t permanent.” The goal is to avoid failure. It may not be fatal, but it’s sure not fun!

Optimizing Onboarding ROI

Are you optimizing ROI from your new employees? From their first day? How do you know?

As business leaders look for the best ways to maximize the ROI of their workforce, the onboarding process is often overlooked. For many, the onboarding experience is reduced to a mere checklist of tasks to be completed and forms to be submitted. The fact that such organizations fail to understand, though, is that an employees that experience a smoother onboarding process will be more connected to the organization, better trained and, thus, quicker to produce.

Establish a Baseline for Measuring Onboarding ROI

Evaluating the value of an enhanced HR process is not always a straightforward process, but establishing a baseline is the first and most important step. Spending time with leadership and defining your standards for measuring ROI is invaluable.

When establishing your baseline to measure ROI, there are a few key concepts you should keep in mind:

● Onboarding should be consistent. All of your fancy data gathering will be for naught unless you can roll out a universal process for onboarding new hires.

● The onboarding process is more than a checklist. Though checklists are great for staying organized, your new hires’ success depends on your ability to get them connected to your organization and keep them connected beyond their first day.

● The onboarding process goes beyond the first week. Though the normal probationary period for new hires is 90 days, The Wynhurst Group reports 22 percent of staff turnover occurs in the first 45 days of employment.

How to Brave the Metrics Madness

After identifying what information will be most valuable, you can begin strategically tracking data. Keep in mind that some of the data you measure won’t be cold, hard facts that fit nicely into a spreadsheet.

There are three areas you can focus on for information: performance, experience and effectiveness. In terms of scope, I’d suggest looking beyond your new hires.

For Maximum ROI, Take Engagement Beyond Onboarding

At the end of the day, your ROI is answering one question above all: What is the value of onboarding new employees more effectively? Here’s a hint: Take a look at your metrics and note improvements in employee performance, time to proficiency and increased retention. Once you can answer that question, move onto the next question: “How can we maximize the value of a better-onboarded employee?”

One way you can maximize this value is to keep the momentum going. Many organizations leverage the tools and technology found in talent management systems to better manage the process of engaging and motivating their employees. Beyond core talent management functionality, these systems also offer reporting analytics and dashboard elements that provide the information you need to support your ROI analysis.

About the Author: Kyle Lagunas is the HR Analyst at Software Advice

http://www.softwareadvice.com/hr/.
It’s his job to contribute to the ongoing conversation on all things HR, and to keep his audience clued-in on important trends and hot topics in the industry.

This article can be found in its entirety at Kyle’s blog:
http://blog.softwareadvice.com/articles/hr/onboarding-roi-metrics-for-measuring-the-true-value/