Recognition
Investing in employees can boost productivityStaffing solutionsWith unemployment figures at a 30-year low and Canada's economy chugging along, many companies are finding it difficult to retain good employees as competition for the best and brightest continues at a break-neck pace. |
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 [ 2007-05-08 ] |
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And it's not just wages that keep you competitive and productive. Recent surveys show that companies that help employees keep a work-life balance, companies that offer perks and those that help employees learn new skills while on the job are more likely to retain the best, most productive workers.
The ability to create a workplace where good work-life balance is fostered is important to the long-term success of the organization, says Judith Plotkin, national director of business development at Human Solutions.
Her company, which is a leading provider of employee assistance programs, recently surveyed 600 companies across Canada and found that workers want to take a more holistic approach to work and life balance.
Specifically, workers want their employers to have better workload awareness, provide creative, flexible or customized scheduling and have clear and supportive communications.
Meanwhile, a recent Monster.ca poll found that 70% of nearly 3,000 respondents wished their employers offered incentives such as fitness and nutritional coaching, gym memberships and opportunities for professional growth.
HAPPY AND PRODUCTIVE
"While not everyone appreciates a corporate wellness program, conventional research has always indicated that a contented and happy worker is typically more productive," said Gabriel Bouchard, vice-president and general manager of Monster Canada.
"The workplace has become increasingly competitive. In this new labour market, the power now shifts from traditional employers to job seekers. Employers will soon have to provide incentives to retain their employees or risk disruptions," he said.
And the Conference Board of Canada's Learning and Development Outlook 2007 says that while Canadian organizations spend an average of more than $850 per employee on training, learning and development (TLD), it's the same amount they were spending 10 years ago. And if inflation is taken into consideration, it's actually 17% lower now.
UPGRADE SKILLS
"Canadian organizations are under increasing pressure, due to a tight labour market and competitive demands, to renew and upgrade workers' skills," says Michael Bloom, a Conference Board vice-president.
"Building workers' skills through training, learning and development is one way for organizations to compete. Yet, TLD spending in Canada is stagnant."
"Organizations appear unable to evaluate the effectiveness of formal training on business performance. As a result, they may see it as a cost to be minimized, instead of an investment that will yield a financial return."
How many years experience do you have in your current position or industry?