Performance Management Tips: Providing Employee Feedback Do’s and Don’ts

Don’t describe traits.

For example, “You need to be more analytical.” This can be construed as an attack on their personality rather than their actions.

Do discuss the specific outcome being questioned.

For example, review a project that resulted in an undesirable or ineffective outcome and discuss more effective strategies with the employee for future projects.

Do focus on behavior, rather than character.

For example, instead of noting how an individual’s action was “not smart,” focus on proactive feedback, such as posing the question: “What could you have done differently?” This allows an open dialogue for both the employer and employee to discuss more effective strategies for such projects.

Don’t provide feedback in a way that can be misconstrued.

Because the tone of our voice can dictate the way someone receives a message, especially in the context of receiving feedback, it is imperative that you are conscientious of your tone and how you deliver feedback.

Do provide both written and verbal feedback in-person.

In providing feedback in-person, you can clearly convey your feedback in a tone that cannot be misconstrued. It also provides the opportunity to address any misconstrued messages in real time, as well as provide the employee the opportunity to ask questions for clarification, explanations for any deficiencies of skills or decisions, and to work together to resolve any issues and ensure the employee feels safe, motivated, and supported.

Questions?

Contact VensureHR today for full-service HR solutions and find a performance management tool customized to your business needs.

2020 Employee Wellness Trends

Business women stretching at work to promote improved wellness

Employee wellness and employee wellness programs are trending in the new decade as businesses are beginning to shift their focus on employee engagement, employee benefits, and recruiting efforts. 76% of employees believe their employer is responsible for their health and wellbeing, and 87% of employees expect their employer to assist in creating a work-life balance.[1] From general health and employee wellness programs, to financial wellness, mental health services, and employee assistance programs (EAP), employers have various avenues to explore in aiding their employees’ wellbeing.

Here are some employee wellness trends to watch in 2020:

Holistic

Mental health is coming to the forefront as critical concerns have increased nationwide. Employers can take the initiative by seeking out medical plans that include mental health benefits, such as telemedicine, self-assessments, counseling, and prescription drug plans. Addressing stress, depression, and other related mental health issues in the workplace can increase employee engagement, employee performance, and employee satisfaction. All of these can benefit the employer.

Incorporating an EAP can also aid employee wellness. These programs provide free, confidential resources and tools to assist employees with personal and/or work-related issues.[2]

Social

Sometimes employees feel as if their work is not as impactful as they had hoped and are left seeking more meaningful work. Depending on the industry, it may be difficult to find tasks or projects that provide a more significant incentive for employees. One way to combat this is to provide community outreach events or paid volunteer days. This can help provide the social enrichment your employees seek at a small cost for you as the employer.

Financial

Financial wellness programs aim to reduce financial stressors, such as continued education, retirement planning, and similar financial issues. Financial wellness programs can be customized to include financial planning, tuition reimbursement, financial resources (i.e., seminars, courses, information), and loan assistance services that can assist with overall employee wellness.

While employee wellness is typically a priority for employers, they may not have all the available resources or tools to serve their employees the best employee benefits. VensureHR is your PEO provider equipped with full-service HR services including employee benefits. We have employee benefit specialists that can assist with benefits enrollment and administration and finding employee benefits solutions that best resolve your employees’ needs.

 

 

 

[1] 2020 Employee Wellness Trends

[2] What is an Employee Assistance Program (EAP)?

Retirement Planning 101

Older couple still having fun as much as they did when young

Retirement might not be in your purview yet, or perhaps you’ve been dreading all the time and effort that goes into planning it. Whatever the case may be, retirement planning doesn’t have to be as cumbersome as it may seem. There are some hidden costs that can ruin your retirement savings and plans, but with these retirement strategies, you should be well on your way to kicking back on the beach.

Costs that Bankrupt Your Retirement

Taxes. First and foremost, you should be informed that most of your income is taxable. If you have secured a retirement savings plan, your withdrawals will be taxed. While there are some exceptions, the same is applicable for pensions. Your Social Security income will be taxed by the federal government. At the state level, there are 13 states that tax Social Security income, so it’s important to factor in those deductions if you reside in one of those 13 states. Alternative retirement savings plans like Roth IRA or 401(k) might provide some tax relief as withdrawals from such accounts are not taxed.

Long-Term Care. It is reported that 70% of Americans over the age of 65 will require long-term care.[1] From assisted living arrangements to nursing home needs, the costs for such care can be excessive. A home health aide averages $52,624 alone, and averages upward for nursing homes.[2] Investing in long-term care insurance can save you money. Finding and securing a long-term care insurance policy by your mid-50s is ideal to offset paying premiums for an extended period, but still young for approval and potentially health-based discounts on premium costs.

Lifestyle Changes. Upon retirement, you may take that time to travel. Or perhaps invest in something you’ve always wanted, but couldn’t, such as a jet ski or a pet. It is important to (1) be honest with yourself about your lifestyle choices and preferences (i.e., eating out, going to concerts or events, etc.) and (2) be prepared for unexpected expenses (i.e., medical emergencies, automotive issues, family events, etc.) by overestimating your finances for extra financial cushion.

Strategies for Retirement

Calculate Your Retirement Income. The first and most important part of planning for retirement is determining your monthly income. There are many factors that go into calculating an accurate representation of your retirement life versus your working life (i.e., shifting priorities, more time to do things you want to do, etc.). Other factors include economic-based influences, such as taxes, inflation, and the job market, as well as the percentage for which you save. The best thing you can do to prepare is to find resourceful articles and/or consult a professional to determine the best path to deciding a number suitable to your lifestyle needs. Utilizing a 401(k) calculator can also give you a jumpstart to your retirement planning strategies.

Find a Savings Plan that Suits Your Needs. Retirement planning includes savings plans, such as 401(k) plans and researching 401(k) plans companies that best align with your retirement planning. There are other savings plan options aside from traditional 401(k) plans, such as Roth 401(k), 403(b), 457(b), Simplified Employee Pension Plans, and IRAs. Knowing the available plans, your lifestyle needs, and the advantages of each retirement planning accounts is key to successfully

Traditional and Roth 401(k), 403(b), 457(b), and SEPs are all employer-sponsored retirement accounts. Each plan provides different maximums for deposits and withdrawals, provide immediate tax benefit and deferral of income taxes (traditional 401(k), 403(b), 457(b)) or tax-free withdrawals (Roth 401(k), 403(b), 457(b)). Most employers will match a percentage, if not all, of the funds you contribute and/or profit-sharing benefits. The IRS allows you to contribute funds to multiple employer retirement plans. Like the traditional and Roth 401(k), 403(b), and 457(b) accounts, the IRA works similarly except it is solely the individual’s contributions. SEPs provide a larger employer contribution limit than traditional and Roth retirement accounts. Savings Incentive Match Plan for Employees (SIMPLE) IRA accounts also provide a larger individual contribution limit than traditional and Roth IRA accounts.

Offering 401(k) plans to your employees and providing the resources necessary to determine their best option can assist with greater employee retention and recruiting top talent. VensureHR can provide 401(k) plans and other competitive employee benefits for businesses of all sizes. Contact us today to see what suite of employee benefits best suits your employees’ needs.

 

 

 

Source: What Are the New Retirement Plan Contribution Limits for 2020?

[1] https://www.fool.com/retirement/2017/02/06/70-of-older-americans-could-face-this-colossal-exp.aspx

[2] https://www.fool.com/retirement/2020/01/13/dont-let-these-hidden-costs-destroy-your-retiremen.aspx

Crafting Effective Job Descriptions

Young African American woman waiting for job interview

When a potential candidate searches for future career opportunities, the first impression they have of your company is based on the job description you have posted to a job board and/or your company’s website. Effective job descriptions include the job title and summary, responsibilities and duties, and qualifications and skills. Other components of job descriptions may include compensation, benefits, and any other notes the hiring manager chooses to share. While there is no foolproof way of crafting effective job descriptions, there are methods that garner more success than others.

Job descriptions include vital information pertaining to the company recruiting top candidates and to persuade candidates to join the team. Additional details might include the company mission, description of the company culture, workplace setting, the internal processes between departments including the role for which the candidate will fill, as well as the salary ranges and additional benefits offered. Indeed reported job descriptions between 700 and 2,000 characters receive up to 30% more applicants.[1] So how do you make your job descriptions stand out from related job postings? Indeed has more than 25 million jobs listed alone.[2]

Here are some tips for creating more effective job descriptions templates.

Job Title. The job title should be as specific as possible. The more targeted the job title, the more effective they are. Research keywords that accurately define the position to make it more marketable on online job boards and websites. Be sure to clearly communicate experience levels to avoid confusion (i.e., using “Senior” instead of numerical terms like “I” or “IV”).

Job Summary. This is where your personality and/or persuasive flair should be applied. While the job summary should be grammatically sound and include a brief company overview and expectations, it should also be to highlight details that set your company apart from its competitors and other companies who have similar roles. Have a fun company activity you enjoy? Add it here. Does your company have catered lunches or casual Fridays? Add it here. Lastly, it is imperative to include an exact job location. It not only assists potential candidates in assessing if the location is a match, but also increases visibility in job search results.

Responsibilities and Duties. While your profile of the responsibilities, day-to-day operations, and the role of the marketed position in the company is critical to include, crafting concise details is the key to effectively composing the responsibilities and duties section. For example, if an “Associate Editor” requires multiple style guide expertise to effectively edit collateral, include the specific style guides and to what extent the candidates need to be familiarized with them to guarantee candidates fully understand the expectations of the role.

Qualifications and Skills. This section should focus on preferred and/or required education, work experience, certifications, and relevant skills for the position. Soft skills, personality tests, and/or other gamification tools may be included to assist with determining cultural and technical alignment with company expectations. Although you may think all requirements are just as important as the next, try to limit the key job qualifications and skills to avoid dissuading candidates.

Successful recruiting requires adequate training, tools, and resources. From securing experienced recruiters to implementing effective recruiting methods, VensureHR can assist you with your recruiting efforts. VensureHR is your partner PEO company that has HR experts in recruiting services, including onboarding, background checks, applicant tracking, and much more. Contact VensureHR to find recruitment services that can take your staffing to the next level.

 

 

 

[1], [2] How to Write a Job Description