CoAdvantage- Employee engagement is one of those concepts that’s hugely consequential but also frustratingly hard to pin down. Highly engaged employees are far more profitable (the top 1% add $5,000 in profit annually on average), for example). A highly engaged workforce generates 21% greater profitability overall and outperforms comparable but less engaged organizations by 202%.[…]
CoAdvantage- The Professional Employer Organization (PEO) industry is booming. A report from the National Association of PEOs looked at PEOs over the past decade and found an industry whose growth had outpaced even normal employee growth. Specifically, since 2008, the compounded annual growth rate of the PEO industry has exceeded the comparable growth rate of[…]
CoAdvantage- 1: Stop thinking about employees in terms of generations. That’s not to say there aren’t meaningful differences between, say, Baby Boomers and Gen Z, but most of those difference have little or nothing to do with their generation specifically. Instead, they’re due to age and, relatedly, career stage and other factors, like how long[…]
CoAdvantage- Traditionally, business leaders have seen Human Resources as a cost center functionally oriented around transactional tasks like processing payroll and administering benefits. That view is rapidly changing, and HR is increasingly serving as an active, collaborative, and strategic partner to the C-suite. That’s because it has become increasingly apparent that HR can actively create[…]
CoAdvantage- Regulatory compliance is a perennial headache for small business owners because it’s incredibly time-consuming and costly to enforce. Indeed, the only thing more expensive than compliance is … non-compliance. Time-wise, the National Small Business Associations says that nearly half of small companies spend 40 hours or more annually on federal regulations; over a quarter[…]
CoAdvantage- Wage growth since the start of the COVID-19 pandemic has been strange, to say the least. Wages grew at historic rates over 2020 – between 2019 and 2020, wages grew by 6.9% for the typical worker, according to the Economic Policy Institute – but that figure may be a little misleading. Most of the[…]
CoAdvantage- Workforce analytics – sometimes also called people analytics or talent analytics – means applying Big Data principles and practices to workforce-related data. In “Workforce Analytics 101: Your Top Questions” introduction to this subject, we wrote: “[Workforce analytics] means using existing data and statistics to generate insight into, and make evidence-based decisions about, HR issues[…]
CoAdvantage- In any organization, it’s critical to ensure that the people you hire can work seamlessly as a team, even (or especially) when they have very different personalities from each other. But how can organizations achieve that? It starts with understanding different personality types and what role, if any, they play in the workplace. “It’s[…]
CoAdvantage- Yes, strategic HR can really improve business operations! In fact, world-class HR organizations (as opposed to average or typical HR organizations) operate at 25% lower cost and with 31% fewer staff, according to the “World-Class HR: Transforming HR to Prevail in the Next New Normal” report from The Hackett Group. More to the point,[…]
CoAdvantage- What is corporate culture? A company’s culture refers to the set of shared procedures and behaviors that are expected within that company. Culture can be created and shaped by individuals or groups within the organization, and it can also be influenced by the environment in which it operates. Culture is sensitive to incentives and[…]
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