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What does it take to succeed today and tomorrow, no matter what the future holds? People. The right people. Happy and engaged people.
People always matter. But in times like these—when business leaders are contending with economic and political uncertainty, a sustained talent shortage, virtually no unemployment, and the ramifications of the Covid-19 pandemic—investing in people is doubly important. Here’s how to use smart HR strategies to secure the people and culture you need to “future-proof” your business.
Below are a few Michigan-specific business statistics from the MEDC Survey of the Michigan companies on the Inc. 5000. We will continue to feature Michigan companies who are Inc. 5000 honorees. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum
I look at Bamboo as more than just an HR tool. It’s really a place for us to engage with each other, to create culture.
"SMB owners are not daunted by challenges. They welcome them. "
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83%
83%
75%
75%
Michigan provides a great quality of life for my family and myself.
Michigan has the supply chain infrastructure needed to support my business needs.
Michigan provides the support businesses need.
Michigan is a hub for entrepreneurship and innovation.
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who believe
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COVID Had a Profound Impact on U.S. Businesses: How Will You Adapt?
New approaches to employee satisfaction, retention, and company culture are demanded of small and midsize businesses in the wake of COVID
He suggests keeping the employee experience front and center, no matter the economic environment, and leveraging people-related tools and technologies to deliver superior business results over time.
For the nonprofit Hope for Haiti, investing in employees is part of how it achieves its mission of improving life in Haiti.
“We really believe the reasons why our programs work, and why we’re able to make such an impact, is because of the people we have on our team,” says Chief Operating Officer Meg Jean Louis.
Hope for Haiti uses BambooHR as the backbone for all people-focused initiatives, including hiring, onboarding, payroll, paid time-off tracking, training, culture building, and performance reviews.
Future proofing means staying focused on what matters most: the employee experience, explains Brad Rencher, CEO of BambooHR, an all-in-one HR software made for growing businesses.
Investing in the employee experience can increase customer loyalty, profitability, and productivity as well as reduce turnover. So why is it, Rencher wonders, that when times get “a little rockier and rough,” some companies abandon people-focused strategies?
“This is the time that you should be investing more in your people, because they’re the ones who are going to get you through this tough time,” Rencher explains.
People-first strategies pay dividends
Culture eats strategy for breakfast. Why? Because a vibrant culture increases productivity and morale, attracts global talent, reduces turnover, and leads to better customer experiences.
Rencher notes that because culture is hard to fake or imitate, it also creates a competitive advantage.
“I could give our exact roadmap to a competitor, and I’m not sure that they would be able to replicate it or cause problems for us in the market. Why? Because of culture,” he explains.
To ensure you build an authentic culture that evolves as you grow, consider these tips.
SMBs are resilient. They are innovative. And they will build back better than ever. They already are well on their way.
TriNet’s SMB customers are researching cures for deadly diseases, building devices that keep our families safe, and are taking health and wellness to a whole new level.
Sources:
1. Gallup Q12 Meta-Analysis, October 2020. Available here: https://www.gallup.com/workplace/321725/gallup-q12-meta-analysis-report.aspx
2. BambooHR’s “The Definitive Guide to Company Culture.” Available here: https://www.bamboohr.com/virtual-ebook/the-definitive-guide-to-company-culture/
3. Gallup, March 2019. Available here: https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx
Companies that rank in the 99th percentile for employee engagement have nearly five times the success rate of those in the first percentile, according to Gallup.
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"
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Culture is a living, breathing thing. You have to care and feed it.
"
"
5X
Use culture to your advantage
I look at Bamboo as more than just an HR tool. It’s really a place for us to engage with each other, to create culture.
"
A “future-proof” business understands the macro trends shaping the HR landscape. For example, a growing number of businesses are allowing diverse benefits and perks.
“We’ve got more generations working in the workforce than ever before, so you have a variety of needs,” says Cassie Whitlock, director of HR at BambooHR. “Have you thought about your benefits package and how it takes care of each of those groups of individuals?”
She recommends providing a variety of ancillary benefits beyond your core offerings and letting employees choose what to leverage.
Jocelyn Donahue, VP, people at the health care technology company Forcura, notes that employees value flexibility. She uses BambooHR to keep teammates connected, no matter where they are working from. The software enables HR and managers to approve time off from their phone, easily communicate company announcements, and track team goals, among other functions.
With stress levels at record highs, another HR priority is investing in the whole person. Support your workforce by measuring well-being metrics, such as stress levels and happiness. Hope for Haiti is launching a new mental health and well-being program, leveraging BambooHR’s Employee Wellness tool.
“This is something that fits into our strategic plan, and Bamboo made it so easy to do,” Louis says.
Understand HR trends
– Meg Jean Louis,
COO, Hope for Haiti
93%
94%
of people believe company culture is important to an organization’s success, according to BambooHR research.
2
1
of customers agree that BambooHR software creates a positive employee experience.
3
BambooHR completely personalized the employee experience to free us up to be able to do the work of the business.
"
– Jocelyn Donahue,
VP, people, Forcura
Start early. Culture starts from the moment you hire your first employee, Rencher says. “The question is, are you going to be intentional about how that culture grows?”
Evolve. Be open to employees adding to and shaping the future. This ensures you create an authentic, inclusive workplace environment that can evolve to reflect your teams, and the times.
Look inward. Embody the values you expect to see in others. When things aren’t going right, start by looking in the mirror. “It’s not as much about what I say as a leader. It’s about what I do.” Rencher explains. “So, if you want to evolve your culture in a particular way, well, then look at your actions.”
Use data. “HR is hard to measure. And we are a data-driven technology company with a board of directors that expects numbers,” explains Donahue.
She uses BambooHR Employee Satisfaction with eNPS to measure employee satisfaction and engagement. “Having a tool to check that box has been extremely helpful,” she says.
– Brad Rencher,
CEO, BambooHR
Nomad Global Communication Solutions (NomadGCS) is in hyper growth mode—“a great spot to be in, except when there are no employees to hire,” says Clay Binford, chief of people and development.
His HR team uses the BambooHR Applicant Tracking System (ATS) to streamline the hiring process and fill roles faster.
Here are some other ways to improve recruitment and build your future team:
Secure your future workforce
Consider the candidate experience. Even if you don’t end up hiring someone, you want them to come away impressed with your business. “If we are extremely responsive and easy to communicate with, that starts to speak to the culture of the company,” Binford says.
Create unforgettable onboarding. Be open to employees adding to and shaping the future. This ensures you create an authentic, inclusive workplace environment that can evolve to reflect your teams, and the times.
Train for the future. Developing a customizable training and development program makes employees feel valued and helps them advance their careers. Upskilling also ensures your workforce can support your plans for growth.
Replacing a single employee costs the business between 150 – 200 percent of the departing person’s salary, according to Gallup.
3
150-
200%
Technology alone won’t solve a culture problem. But tech is an enabler of a strong people strategy, Rencher explains.
HR software makes it easy to collect and organize the information you gather throughout the employee lifecycle, freeing up people’s time for other initiatives. When considering an HR platform, look for one that can grow with your business. When Forcura started using BambooHR, the team was small.
“I did not need to boil the ocean when I had 20 employees,” Donahue says. I did need an HR platform that could grow and continue to innovate, which Bamboo does. Every time they have a new offering, I am like, ‘yeah, we need that.’”
BambooHR grows with the team, and helps the team grow. It also drives engagement, builds culture, and tracks training and development initiatives, so people feel invested in the organization’s work.
“When HR software is done in a way where people actually want to engage with it, that it doesn’t feel administrative, that it’s got a heart—then it helps advance the employee experience strategy and build the culture,” Rencher says.
BambooHR is on a mission to set people free to do great work. To learn more about BambooHR, visit bamboohr.com.
When tech sets you free
People-first strategies pay dividends
Future proofing means staying focused on what matters most: the employee experience, explains Brad Rencher, CEO of BambooHR, an all-in-one HR software made for growing businesses.
Investing in the employee experience can increase customer loyalty, profitability, and productivity as well as reduce turnover. So why is it, Rencher wonders, that when times get “a little rockier and rough,” some companies abandon people-focused strategies?
“This is the time that you should be investing more in your people, because they’re the ones who are going to get you through this tough time,” Rencher explains.
Companies that rank in the 99th percentile for employee engagement have nearly five times the success rate of those in the first percentile, according to Gallup.
5X
– Meg Jean Louis,
COO, Hope for Haiti
I look at Bamboo as more than just an HR tool. It’s really a place for us to engage with each other, to create culture.
Companies that rank in the 99th percentile for employee engagement have nearly five times the success rate of those in the first percentile, according to Gallup.
1
5X
BambooHR completely personalized the employee experience to free us up to be able to do the work of the business.
"
– Meg Jean Louis,
COO, Hope for Haiti
2
of people believe company culture is important to an organization’s success, according to BambooHR research.
94%
A “future-proof” business understands the macro trends shaping the HR landscape. For example, a growing number of businesses are allowing diverse benefits and perks.
“We’ve got more generations working in the workforce than ever before, so you have a variety of needs,” says Cassie Whitlock, director of HR at BambooHR. “Have you thought about your benefits package and how it takes care of each of those groups of individuals?”
She recommends providing a variety of ancillary benefits beyond your core offerings and letting employees choose what to leverage.
Jocelyn Donahue, VP, people at the health care technology company Forcura, notes that employees value flexibility. She uses BambooHR to keep teammates connected, no matter where they are working from. The software enables HR and managers to approve time off from their phone, easily communicate company announcements, and track team goals, among other functions.
With stress levels at record highs, another HR priority is investing in the whole person. Support your workforce by measuring well-being metrics, such as stress levels and happiness. Hope for Haiti is launching a new mental health and well-being program, leveraging BambooHR’s Employee Wellness tool.
“This is something that fits into our strategic plan, and Bamboo made it so easy to do,” Louis says.
Understand HR trends
Culture eats strategy for breakfast. Why? Because a vibrant culture increases productivity and morale, attracts global talent, reduces turnover, and leads to better customer experiences.
Rencher notes that because culture is hard to fake or imitate, it also creates a competitive advantage.
“I could give our exact roadmap to a competitor, and I’m not sure that they would be able to replicate it or cause problems for us in the market. Why? Because of culture,” he explains.
To ensure you build an authentic culture that evolves as you grow, consider these tips.
Culture eats strategy for breakfast. Why? Because a vibrant culture increases productivity and morale, attracts global talent, reduces turnover, and leads to better customer experiences.
Rencher notes that because culture is hard to fake or imitate, it also creates a competitive advantage.
“I could give our exact roadmap to a competitor, and I’m not sure that they would be able to replicate it or cause problems for us in the market. Why? Because of culture,” he explains.
To ensure you build an authentic culture that evolves as you grow, consider these tips.
– Jocelyn Donahue,
VP, people, Forcura
Culture eats strategy for breakfast. Why? Because a vibrant culture increases productivity and morale, attracts global talent, reduces turnover, and leads to better customer experiences.
Rencher notes that because culture is hard to fake or imitate, it also creates a competitive advantage.
“I could give our exact roadmap to a competitor, and I’m not sure that they would be able to replicate it or cause problems for us in the market. Why? Because of culture,” he explains.
To ensure you build an authentic culture that evolves as you grow, consider these tips.
Start early. Culture starts from the moment you hire your first employee, Rencher says. “The question is, are you going to be intentional about how that culture grows?”
Evolve. Be open to employees adding to and shaping the future. This ensures you create an authentic, inclusive workplace environment that can evolve to reflect your teams, and the times.
Look inward. Embody the values you expect to see in others. When things aren’t going right, start by looking in the mirror. “It’s not as much about what I say as a leader. It’s about what I do.” Rencher explains. “So, if you want to evolve your culture in a particular way, well, then look at your actions.”
Use data. “HR is hard to measure. And we are a data-driven technology company with a board of directors that expects numbers,” explains Donahue.
Use culture to your advantage
5X
Replacing a single employee costs the business between 150 – 200 percent of the departing person’s salary, according to Gallup.
Nomad Global Communication Solutions (NomadGCS) is in hyper growth mode—“a great spot to be in, except when there are no employees to hire,” says Clay Binford, chief of people and development.
His HR team uses the BambooHR Applicant Tracking System (ATS) to streamline the hiring process and fill roles faster.
Here are some other ways to improve recruitment and build your future team:
Secure your future workforce