Thursday, 6 March 2014

Top five reasons why employees join and stay with organizations


  1. David Witt / July 15, 2012
    A new Towers Watson research paper is shedding some light on what attracts employees to an organization (and what keeps them there after they’ve joined.)  The 2012 Global Workforce Study includes responses from 32,000 employees in 29 markets around the world.

    Here’s what people said attracts them to an organization and what would cause them to leave.

    Rank Attraction Retention
    1 Base pay / Salary Base pay / Salary
    2 Job security Career advancement opportunities
    3 Career advancement opportunities Relationship with supervisor / manager
    4 Convenient work location Trust / confidence in senior leadership
    5 Learning and development opportunities Manage / limit work-related stress
    Adapted from Top Five  Global Drivers of Attraction, Retention and Sustainable Engagement           Towers Watson 2012 Global Workforce Study At A Glance
    .

    The study also looks at the factors that create an engaging work environment.  It’s interesting to note that Towers Watson has expanded their definition of employee engagement—which they are calling “sustainable engagement”—to include enablement (having the tools, resources and support to do their job effectively), as well as energy (which means a work environment that actively supports employees’ well-being.)

    Overall, the study showed that:

    Only 35% of workers rate high in all three areas and are engaged, energized and enabled.
    22% are classified as unsupported, meaning they display traditional engagement, but lack the enablement and/or energy required for sustainable engagement.
    17% are detached, meaning they feel enabled and/or energized, but are not willing to go the extra mile.
    26% are completely disengaged, with less favorable scores for all three aspects of sustainable engagement.
    Wondering where to get started in addressing some of these factors in your organization?

    Abhishek Mittal, a senior consultant with Towers Watson in Singapore shares some possibilities for specifically addressing the enablement aspect of sustainable engagement in a separate, but related article, Building a Sustainable Engagement Strategy.

    In the article, published late last year, he describes a Towers Watson study with a large Asian bank that identified:

    “The analysis of over 300 branches found that the direct manager has a large impact on ‘enabling’ employees. When we look at branches where employees are more satisfied with their managers on a range of parameters, the employees tend to feel much more well-supported or enabled to deliver in their roles. Their perceptions about work resources, tools, condition and work organisation are much stronger than other branches. In turn, branches with more “enabled” employees clearly have a higher percentage of engaged customers. And, we saw clear links between engaged customers and higher target achievement on branch-level operating profits.”
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  2.  

    Top 10 Reasons Salespeople Fail
    by Jacques Werth
    ©All Rights Reserved
    We studied how the Top One Percent of Salespeople in 23 industries actually sell. They earn more than the average CEO, yet they seldom work as long, nor as hard. Almost all of the Top 1% utilize a consistent sales process with all their prospects and customers. Most of them print out their sales process in questionnaire format so that they do not have to memorize anything. That way, they can focus all of their attention on their prospects, rather than thinking about their next question or the next step in their sales process.
    We have also studied how most of the other 99% of salespeople actually sell. Most of what they do is in direct opposition to how the Top 1% sell.
    1. Most salespeople don’t prospect efficiently, effectively and enjoyably. (See my previous article, “Top 10 Tips for Prospecting Success".) Therefore, they spend most of their selling time with prospects who will not buy.
    2. Most salespeople do not utilize a consistently effective sales process. Therefore, each sales opportunity is handled differently, based on what they are comfortable doing. Their results are hit or miss. The Top 1% consistently do what has the highest probability of producing high closing rates.
    3. Most salespeople believe that their primary function is to persuade and convince prospects to buy their products and services. Therefore, they utilize manipulative persuasion tactics, which most prospects resent. That creates sales resistance and results in low closing rates. The Top 1% know that persuasion and convincing are obsolete sales tactics. They utilize selling tactics that are compatible with the way the human mind works. 
    4. Most salespeople fail to get a conditional commitment to do business at the beginning of the sales process. Therefore, they waste too much time with prospects that have no commitment to buy.
    5. Most salespeople neglect to determine the exact buying intentions of their prospects, including what their financial capacity is, when the purchase will occur, who makes the final decisions, etc. Therefore, they spend too much time and resources on low probability prospects.
    6. Most salespeople attempt to do what they call “building rapport." However, what they are really doing is trying to get the prospects to like them, which is an inherently manipulative process. Most prospects are far more concerned about whether they can trust and respect you. Therefore, you must learn how to immediately develop that kind of a relationship.
    7. Most salespeople do “sales presentations,” rather than determining what their prospect wants, and why. Therefore, their prospects feel neglected and disrespected.
    8. Most salespeople close at the end of their sales process. Top salespeople start closing at the beginning of their sales process – as in item 4 above – and continue to close throughout the process, as many as thirty times. The sum of all those commitments adds up to a relaxed, no-pressure close.
    9. Most salespeople learn a few techniques for “overcoming objections” which are largely Manipulative Rhetoric. Top salespeople eliminate almost all objections with their sales process.

    10. Most salespeople are locked into old beliefs about selling. Therefore, when they try to improve, they only improve on what they already know. That can only result in small incremental improvements. Top salespeople look to make dramatic changes in their sales process in order to get major increases in their sales productivity.
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  3. 1. Start with a highly targeted prospecting list, consisting of people or companies that are most likely to buy your type of products and services. Use a highly reputable list broker to find such a list. The cost should be no more than 25¢ per name. Start with a list of no more than 500 names. You cannot afford to develop your own list, unless you already have a book of business. In that case, call your existing customers as if they are new prospects.  
    2. Call every name on your list every 3-4 weeks. Understand that only a small percentage of your list will be ready to buy the first time that you call. Many more will be ready each successive time that you call. Most prospects will not want to meet with you until you have presented prospecting offers at least three times.
    3. Present a “prospecting offer” of no more than 45 words that clearly states who you are, what you are selling, and two features of your product or service. Finish up with “Is that what you want?” Each time you call, change the two features. That will prevent most prospects from getting annoyed. It will also eliminate most of the rejection that is caused by traditional cold calling.
    4. If the prospect says “No” or “I am not interested,” you say “Okay, good bye.” Do not press for an appointment. Do not try to engage the prospect in a conversation or ask any questions. That will be the most pleasant sales call they ever get. It will assure that less than 1% of the prospects will ask you not to call again.
    5. Schedule your prospecting sessions for 3½ hours. Take a fifteen-minute break between each hour. That is more productive than five prospecting sessions of one hour each.
    6. Tape yourself. Use a tape recorder with an open microphone to tape your side of each call. Start the tape when the prospect answers. Listen to how you sound. The goal is to hear yourself using your usual conversational tones. Do not try to sound like a professional salesperson. Do not come across as overly enthusiastic, unusually friendly or enticing. Just relax and present your offer without persuasion.
    7. Always be in a "Disqualification" mode. Be determined to spend your selling time only with High Probability Prospects. Disqualify low probability prospects quickly and courteously. Don’t allow desperation or anxiousness to deter you from that mission.
    8. Accept the fact that prospecting really is a “numbers game.” The most important numbers are your Dials Per Hour and the ratio of prospecting Offers to Dials.
    9. Keep accurate records of your prospecting sessions. We have trained thousands of salespeople to be successful prospectors. The most successful keep accurate records. The act of keeping records will cause your subconscious mind to constantly improve your results.
    10. Telephone prospecting is the most productive way to build up your sales volume, with very little up-front expense and a minimum of marketing expertise. Start with telephone prospecting, and eventually you will get so many referrals from your existing customers that you will need to get an assistant to do your prospecting for you.
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  4.  

    If you follow the MarketingExperiments blog, you know that small tweaks to a site can make a huge difference in conversion rates. Transitioning a site that is cluttered with information to one that makes sure the reader knows where they are, what they can do, and clearly communicates your value proposition can transition an ordinary site into an exceptional one.
    It can make the difference between mediocrity and excellence — failure and success.
    While researching and writing the MarketingSherpa 2012 Executive Guide to Marketing Personnel, we discovered some critical keys for optimizing a department the same way we optimize a webpage.
    According to the executive guide’s results, 80% of marketing departments worldwide are using some sort of assessment analytics to identify those marketers who have the competence and character to do the job and do it well. The challenge is that this is as far as most marketing departments go with their people.

    This is where a marketing manager or CMO has to step in and provide clarity for his/her marketers
    You do this in similar ways to testing and optimizing a webpage. You work with each page (or in this case, person) and identify its unique characteristics, and then focus on conversion (which in this case is your employee or team member completing the necessary tasks to make your organization successful). Here are the steps:
    1. Set departmental goals but individualize them for each marketer. Illustrate how their individual accomplishments will help the department and the company as a whole. Then identify their unique behavior/value traits to motivate them to accomplish those goals with their unique cognitive approach. This will provide the mental incentive for them to perform.
    1. Provide examples of how their mind and skill sets will help them accomplish the goals and then praise them in departmental meetings when the intermediate goals are accomplished. This reinforces the value on their individual capacities, which a marketer values above all else. Why? Because it positions that individual marketer as someone with unique values and establishes their credibility with other team members.
    1. Don’t micromanage your marketers. The one common trait of marketers is that they enjoy making their own decisions, and having the freedom to create and achieve their goals their way. Let them do that outside of the normal training and developmental sessions (which are a must). Give them the freedom to make mistakes so they will learn and develop competency more rapidly.
    1. Deal with issues/problems IMMEDIATELY. Marketers envision themselves as problem solvers — out there leading the pack in ways others cannot. As a manager, if you do not develop an atmosphere of openness and willingness, you are not addressing a key element of the marketer’s personality — communication. According to research for our executive guide, marketers are 19% more communicative than the average person — talk to them and let them talk.
    1. Tell them you want them to succeed and how they can obtain advancement/promotion. A wise man once said: “Where there is no vision, the people perish!” This is especially true of marketers. They pride themselves on vision and success. When a manager does not provide a career path or vision, it is only a matter of time before your marketer finds one — somewhere else.
    1. Instill the team spirit in each member of your department. Marketers are independent by nature, especially those specialists who are highly analytical and objective. To lead people, sometimes you must walk behind them, giving them their moment to shine. You can accomplish that if you don’t care who gets the credit. Help each member create their own identity and show them how that identity helps make up a dynamic team.
    1. Be consistent and fair. While each marketer is going to be unique and require a different verbal and mental approach to management, be consistent in the way you deal with departmental and individual issues. Praise publically and counsel/reprimand privately. Use your knowledge of their individual dynamics to the max. Understand their motivations and use those motivations to make your department excellent.
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  5.  

    If you want to have an effective hiring campaign, you have to think long term. When hiring new employees, it can be difficult to consider how they will benefit your organization for the long haul. Fortunately, there are a variety of ways to make sure you pick the right employees who will stay with your company. The following are instructions on how to prevent quick employee turn-around.

    Don't hire out of desperation. Do not just hire an employee because you needed someone to fill the position yesterday. That is what temporary employees are for. If you are looking for someone to fill the position long term, it is best to take some time to do your research. Gather as much information as you can about a job applicant. Information you would need is contact information for personal and business references, a list of past and present employers, social security number, birth date and more. These items will help you complete reference checks and to perform background checks to find out about any past criminal activity. Call on a reference. You are never too busy for that.

    Offer skill testing. If you want to decrease employee turn-around, you can perform skill tests on your job applicants. You can either do this directly through your human resource department or you can contract this responsibility out to a job placement agency. This is one of the tools that will help you determine whether you have found the best fit for each position your company has open. Not only that, but it also cuts down on your new applicant recruitment costs. Every company has some form of testing or verification. Have a competition with it or an incentive.

    Profile For Temperament. Each job description should include a consideration of the social aspects of the job. Is the job task oriented or people oriented? Does the job require much interaction with the public? With other co-workers? Temperament profiles can predict which people are best suited for different types of work. Placing people with the right temperament for a particular job can go a long way toward creating stability.

    Pay competitive. If you've gone through the trouble of finding great candidates, you want to make sure you can persuade them to come on board and have them stay. Money is not the number one reason people come to a company or leave a company.
    Show appreciation. Many employees almost always know when they are doing a job wrong. However, these same employees very rarely ever hear from their employers when they are doing their job right. Encourage your employees by saying kind words to them, and telling how much of a good job they are doing. If you do that, they will be more likely to accept any words of advice on how to improve their work later on.

    Level the workload. Employees often leave companies because they feel overworked. It's frequently less expensive to hire an additional person, even part-time, than it is to replace a seasoned staff member. Often we complain about an individuals performance but no action is taken. That hurts existing employee morale as well.

    Hold regular review sessions. When employees are closely attached to their management team, they are more likely to feel involved. More involved employees tend to perform at a higher level and are more likely to achieve longer tenure. Talk to your employees. Keep them informed of new policies and procedures. Don't keep secrets. An informed and educated employee is much more effective.

    Do exit interviews. Labor laws suggest that we cannot hold a person from leaving. When an employee goes, he/she just has to go. It will be very beneficial to know the cause of why the employee chose to leave. Possible factors may be: a better job offer, pursuit for growth, poor colleague relationships, below average compensation, dislike for the nature of work, etc. Knowing what problems to address, and taking action on them, will eventually lessen turnover rates in the future.




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  6.  

    WHY YOU SHOULD HIRE ME


    I'm a hardworking and I have a good attitude. I'm also effective.

    I'm not only qualified for this job due to my experiences, but also because of the positive attitudes that I have towards the tasks given to me. I take good care of my responsibilities so if you are giving this position to me, then think of it as a great investment.

    I'm ready to earn what I deserve.

    I bring good things to the table. I am an achiever. I am a hardworking person, but I'm also efficient. I'm not the man who spends 5 hours on one thing, I'm the man who spends 5 hours doing 20 things, because I am organized and I know what I'm doing. Finally, I'm a talker and a doer.

    I am very motivated to do this job- it's my dream. If you hire me, I will do my best to exceed your highest expectations.

    You should hire me not just because I have the skills but also because I have the potential to develop my skills from experience. I can handle my responsibilities very well.

    You have to tell me why I should work for you, because there are many other firms that would want me.

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