Profitability drives the actions of all organisation, even not for profits as they at least need to break even, as such senior leadership teams are constantly reviewing regular reports on the health of their organisation through financial, operational and people metrics. Unfortunately a majority of these metrics are looking backward at what took place during the last month, quarter or year.
Especially when you start looking at metrics such as Employee Engagement/Satisfaction which usually result out of an annual survey. Following the actual survey period is at least a month of analysis after which the result are usually distributed back to managers over a period of weeks if not months. Afterwards the long drawn out process of implementing the recommendations takes place. This can actually disengage employees as they do not see positive outcomes from the survey for many months.
At best organisations will have engagement figures that are only 90 days old, at worse over 12 months, resulting in executives using a historical view on the “health” of their largest expense for decision making.
Over the last few years serious financially based research has been taking place around how employee engagement impacts organisational financial performance. Alex Edmans’ most recent findings are:
Companies listed on the “100 Best Companies to Work For in America” generated 2.3% to 3.8% higher stock returns per year than their peers from 1984 through 2011.
Leading expert on employee engagement David Zinger provided an interesting fact; a disengaged employee is actually costing you US$2,246 per year. David’s source as a lovely infograph created by ADP in the US based several different bodies of research. Some other facts from the infograph include:
- 67% of employees are not engaged, this is less than Australian estimates of around 80% not engaged
- 49% of employees feel their executive do not create an environment that drive engagement
- Engaged employees are 87% less likely to leave
- Removing roadblocks and access to resources can improve employee performance by 25%
It is research like Alex Edmans and figures like the type from the ADP infograph that make it not surprise that switched on organisations take this seriously and are finding year old data on engagement just not “cutting the mustard”. Really switch on ones are doing something about it like Atlassian’s Mood App.
Yesterday was the first joint ATC/Inspecht event looking specifically at the usage of social media in recruitment. My personal opinion is that overall the day was a great success, although we will wait for the formal feedback from participants to know their feelings. Here are some of my thoughts and observations.
- Having over 130 people in a room designed for 120 is a little cramped, but that is what happens when you sell out an event.
- A lot of people knew very little about social media in general, let alone how they could be using it as part of their day to day work.
- 80% of the participants were internal recruiters or consultants, very few agencies were represented.
- Mark Pesce is always a great speaker.
- There was lots of good discussion on Twitter.
- E&Y are doing some very good things.
- Atlassian as always have their finger on the pulse of their community.
- People are very confused about how to include social media as part of their recruitment strategy.
- There is a lot of concern about the legal and management issues of social media in the work place.
- Job boards are not going away anytime soon.
- We need to really start to promote Enterprise 2.0 as part of talent management strategies
We will be pulling together as many of the presentations as possible and make them available on the conference site. Also all sessions were captured on video once the videos are edited they will be posted online.
Here are a couple of blogs post I have found discussing the event:
A final note, we are talking about a bigger and better event for 2010 so watch this space.
We are coming to the end of the early bird discount period for the joint event between Inspecht and ATC Social Media: A Recruitment Revolution. while the early bird discount is good, register 2 or more delegates and you get an even better deal.
So why attend?
- Listen to Australian case studies from Ernst & Young and Atlassian
- Hear from Futurist Mark Pesce
- Participate in workshops on social recruiting strategies, digital branding and the use of social networking for sourcing
- Watch the debate between Stephen Collins and Jake Andrews, from SEEK, on “Do you need a job board when you have social networking?”
- Put forward your own ideas and thought in the World Cafe session
- Listen and interact with your peers in the special unconference session where you get to control the agenda
This event was inspired by the ERE Social Recruiting Summit so I caught up with Paul Jacobs from Tribe HQ a New Zealander who attended the event with me to find out why he trekked all the way from Wellington New Zealand to San Francisco. (These are definitely NOT Oscar winning performances but we had fun.)
Finally if you are a member of Recruitment 2.0 APAC you could win a free ticket to attend
Many people have commented that there is still a session in the HR Futures Conference without a speaker, could they fill the slot. The issue has not been there was no speaker, more that I had too many speakers to choose from! Over the last month I have been working with several people to finalise who will speak and what they will speak about. I wanted a case study so that attendees could get an “in the trenches” view of HR , Social Media and Web 2.0.
I am very happy and excited to announce that Joris Luijke HR Manager from Atlassian will be speaking, and that the program is now full!
If you don’t know Atlassian you really should.
Atlassian is an Australian software company specialising in collaboration and development tools. An amazing success story, founded in 2002, they have 14,500+ customers, 195 employees worldwide, offices in Sydney, San Francisco and Amsterdam with FY08 revenues ~$35 million. Altlassian’s wiki product Confluence was listed 2nd in the 2008 Top 100 Australia Web 2.0 Applications, top in Gartners Magic Quadrant for Social Software report, and the founders Mike Cannon-Brookes and Scott Farquhar have been listed multiple times as some of top Australia’s entrepreneurs.
Now the talk.
I have asked Joris to cover what it is like leading the HR team in a fast growing Web 2.0 organisation, where all employees are encouraged to blog, policies are stored in a wiki and generally culture is Web 2.0 in nature.
More details to come.