Is it the next big thing?

Posts tagged ‘Work Life Balance’

How much are you spending on replacing employees that leave due to WLB?

In an economy where employment is high, attrition is also on the increase and competition for talent is fierce. At an average UK attrition rate of 15%, this poses a huge cost to organisations and with this knowledge, it’s more important than ever that companies measure, monitor and understand why their employees are leaving and work out what it will take to retain their top talent.

What are the benchmarks?

Leading research stats suggest that one of the top three reasons employees either leave their company or accept a role with a company is work-life balance (WLB). We’ve identified three separate pieces of research (LinkedIn, Onrec and Bamboo HR) which consistently indicate a massive 30% of employees that leave, do so due to work life balance.

How much does it cost?

It’s widely published that the true cost of replacing a staff member averages at just over £30,000 and varies by sector with accountancy/ legal sectors bearing the highest costs.

This figure includes direct costs such as advertising, recruitment/ placement fees (averaging at around £5,433), and incorporates the cost (wages) of a new employee that are spent before they reach full productivity, which is between 4 and 12 months depending on the role/ sector plus management time office set up etc.  However, it doesn’t include the indirect impact of disengaged employees which can happen when someone leaves and may lead to increased sickness/ absence costs.

This figure of £30,000, may seem high to employers if not all elements are counted as part of replacement costs, perhaps because they are considered an overhead or a necessary cost of running the business?. However, with new recruits taking an average of 27.6 days of HR director time to hire and get up to speed (Onrec), plus onboarding, training and simply paying a recruit before they are productive and the costs soon start to pile up.  Overall, this is a significant cost to businesses of all sizes;

  • If your company employs 10,000 staff and you have an attrition rate of 8.5%, this could translate into an annual cost of replacing staff that leave due to WLB of £7.6 million.
  • If your company employs 250 staff and you have an attrition rate of 10%, this could still translate into an annual cost of replacing staff that leave due to WLB of £180,000.

Use our calculator to see how much regrettable attrition due to WLB could be costing your business.

Questions

Could it be that viewing the full cost of recruitment as an uncontrollable overhead is in fact, costing businesses millions of pounds?

Could focussing on retaining top talent that may leave due to work life balance priorities add a quantifiable, direct cost saving to the business?

Why do your employees leave? do you know and track the cost impact on your business?

I hope you find our calculator useful and thought provoking. Please let us know your comments on these numbers and whether you think this is a priority that is receiving enough investment and attention.

 

Sharing is Caring: Job sharing as a supportive way to return to work

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For parents looking for a flexible way to return to work, job sharing is an option worth considering. Sara Horsfall, Founder and Director of Ginibee, a job share network, describes how job shares provide extra benefits for job sharers beyond reduced working hours.
 
One of the (many) times in a parent’s life we find extremely challenging, is reconnecting with our inner professional after discovering our inner parent. In other words, returning to work.  
Thinking about returning to work can be a particularly lonely time, when we can feel a range of conflicting emotions including guilt (for not being with our child 24/7), paranoia (that none of our parenting skills are relevant /we have “forgotten” our professional skills /people will think we can’t do our job anymore) and gratitude (when we find a role). These feelings can make it a stressful time and one which is often insufficiently supported. So, what if there was a proven way to return to your careerwithout leaving behind new life priorities, that benefits both you and your employer?   
One of the overarching benefits of successful job sharing we often see at Ginibee, for returners, is the supportive nature of the job share partnership. Imagine returning to work with someone who is faced with similar challenges in terms of creating time for other life commitments, whilst sharing similar career experience and ambitionForming a partnership with another enables job sharers to share the responsibility and opportunity of a full-time role without the associated time commitment and in doing so improves confidence (since women often find it easier to recognise the strengths in others than in ourselves), as well as creating the mental and physical space to attend to their life. By being aware of and respecting each other’s motivations and strengths, job sharers live a very fulfilled life both in terms of their career and life outside of work. 
Supportive Benefits of Job Sharing  
So what does being in a supportive job share mean to us?
  • Reduces Stress 

Although progressive employers understand that mentoring support is a key requirement to retain and develop parents as they return to work, it can still be rare. The great thing about job sharing is that successful partnerships self-mentor as part of setting up and maintaining the jobshare. Ruth, who switched from part-time work to job sharing in order to progress to a more senior level as Director of Strategy, said “I feel less stressed as a job sharer, because there’s a proper release valve. In other roles you might vent to your partner or husband at the end of the day, but they’re not in it, so with my job share partner we can really vent to each other and share the challenges, which means it’s not all in your head, and I find that to be really valuable.” 

  • Increases Confidence 
Another job sharer, Polly, says “job sharing is really supportive, which means you can take braver decisions faster, because with the best will in the world, your boss, your mentor etc. isn’t going to be quite as interested and involved as your job share partner. In particular, on management decisions where you might be worried about being too subjective about a matter, when you have both picked up on it you can give clearer, stronger, more objective messages.” 
  • Improves Focus 
When you know your days off really are days off, you have more energy to fully apply yourself on your working days. Employers of job share partnerships report that the inherent accountability of job share partnerships means they are easier to manage as they have another to share ideas and challenges with. Polly says “Being accountable to your job share partner keeps you focused and honest”. 
We only need to look to organisations like the Civil Service, Barclays, Transport for London that have launched jobshare schemes for their employees to see that this is now receiving a higher profile as part of creating and retaining diverse workforces. 
If you would like to access or retain talent through Jobsharing, or if you would are the untapped talent looking for a like-minded Jobshare partner, you can find more information and support, including Ginibee’s jobshare platform at www.ginibee.com.
 
 
Posted by Katerina
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Accessing talent through Jobsharing: case study

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How does Ginibee make Jobsharing easy?

When we realised that uptake of Jobsharing was around 1% despite being the only career option that offers a win-win to both employer and employee in terms of productivity, opportunity and continuity, we wanted to know why.  Our research, carried out by CJBS MBA candidates combined the views of large employers with those of over 200 candidates looking for flexible work and revealed some interesting findings:

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22% of candidates hadn’t heard of Jobsharing

 

42% of candidates didn’t think their employer will support it

 

38% of employees would consider Jobsharing if their employer supported it

 

 

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80% of employers were concerned about how to recruit one half of a partnership

 

The main barriers to Jobsharing are finding a compatible partner and the perceived hassle (to employers) of setting it up

 

43% of candidates would actively search for a Jobshare role

 

This research led us to take action as we could see the potential for Jobsharing to solve problems for both employee and employers, if these barriers were removed.

We’re proud to announce that our Jobshare platform is now live and was launched on Sunday 24th January at The New World Of Work, an event we partnered with Mum Plus Business for at the CJBS Centre for Social Innovation.

The platform empowers candidates to self-select Jobshare partners with support from Ginibee to create an “interview ready” partnership.  It makes it easy for employers by taking away the hassle of setting it up and sustaining a Jobshare, so they can offer equal opportunity to Jobsharer partnerships without creating additional work.

If you’d like to know more about Jobsharing, either as an attraction or retention strategy,  please get in touch.  You can find out how it all works at www.ginibee.com

Is the term Parental Leave in need of a rebrand?

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One of the key challenges employers face in business is when valued employees take what is currently referred to as “time out” or “parental leave” from their professional career. In many cases it’s treated as a “taboo” with most being conscious of having a gap on their CV that may be viewed as a career break and is almost never discussed in a business context. Yet going on a course to develop our skills is seen as a great move, something which is highly valued by employees and employers alike.

Let’s turn this on its head!

Amongst the top reasons why parenting is so challenging, tiring and fulfilling are the fact that it’s constant and involves learning and immediately applying new skills (many of which you may not consider your strength (in a business context)) “on the job”. Imagine that, your company sends you on a sales course that is never going to end, there is no break from it, you can’t prepare, delegate or fast track. Irrespective of how well you take to it, your new skills will inform the development of new life coming into the world and as such will have consequences for you to deal with. A scary thought.

Yes, there are the obvious “time management”, “patience” and “productivity” skills, which are developed as a necessary requirement of Parenting, but we could all do with honing these irrespective of our specialism. What about the other areas that not everyone considers to be their strength? and in a professional environment some would run a mile from, but in developing as a parent you have no choice but to learn and apply, like:

Sales – skills required on a daily basis to parent a child from the age of 1-2 years old. What are the closing techniques that will successfully persuade your toddler (or older) to choose to process all of the functions that enable them to independently eat their meal, for example, or let you put on their coat, or co-operate in any way?

Performance Management – skills required on a daily basis to parent a child from the age of about 3 years old. What are the key performance indicators of a three year old? How will you measure them and what actions are you looking for as an indication that a reward is due to be awarded or revoked. What method will you use to communicate this and how will you ensure your child understands and is motivated by this process?

Conflict Management – required to parent children from the age of about 2-3 years old. How will you resolve and help your child to resolve conflict with another? How will you deliver news to your child that they don’t want to hear in a constructive way?

Supplier Management – which supplier will you select for your child’s education/ other skills development? What criteria will you use to select and how will you monitor whether it is being successfully delivered? What action will you take if it isn’t being delivered?

Add to that an array of other skills, like Networking, Leading, Events Management, Catering, Confidence Coach, the list goes on. (We can see why parenting is so challenging and indeed why many view going back to work as a break! That way we only need to focus on the skills we feel more comfortable with and consider ourselves successful in!)

Why are we not harnessing this phase of self-development more in the workplace?

Parenting could be viewed as a way of learning and developing ourselves, but most don’t view it in this way.  Instead, the application of new skills is simply viewed as a necessary part of getting things done and swept under the carpet by all, as generic “parenting challenges” that make us so tired.

But is everyone actually missing a trick? Could raising awareness of the learning and development experienced by parents be harnessed more by companies? What if companies decided to change how it’s viewed as part of recruitment and learning and development processes?

 Is the term “Parental Leave” in need of a rebrand?

What if the language around parenting was to change?

What if instead of “parental leave” businesses decided to offer a “parenting skills development” sabbatical and use the “keep in touch” days as an opportunity to review how to apply parenting skills in their profession?

What if, for candidates that are also parents, a portion of their CV and interview process were to be spent exploring rather than avoiding their parenting experience and reflecting on how it has ADDED TO their portfolio of skills in the workplace? Would a different, more respected approach from society create an energy shift that would fill us up rather than drain us of confidence and energy?

Would a rebrand like this, along with an accessible portfolio of truly part-time (3-day a week) working strategies like Jobsharing, reduce key recruitment and diversity challenges?  It’s certainly food for thought.  Perhaps you know of organisations that have already turned it on its head? I’d love to hear your views.

If you’d like to find out more about successful family friendly strategies and support for those who choose parenting and career, please check out http://www.ginibee.com

Jobshare Top Tip #5: Practice Humility

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Often in today’s workplace, being humble can be seen as a weakness when in fact, entirely the opposite is true and crucial to success as a Jobsharer. Being aware of our limitations, accepting imperfections and recognising our potential when combined with another is an incredible strength! It takes courage to talk through our “mistakes” but only through creating this type of dialogue with a Jobshare (or any) partner can you create a truly fulfilling experience.

There’s no room for ego

Practicing humility as a Jobsharer requires a shift in perspective. Respect and commitment of successful Jobsharers is focussed on doing what’s best for the role (and inherently, the Partnership), as opposed to themselves as individuals.

“Any successes we had were not personal, they were as a result of the Jobshare” (Maggy Pigott CBE, a Jobsharer of 23 years with the Civil Service, 5 of which were at CEO level)

There really is no room for ego, if a task is done well, it doesn’t matter which Jobsharer does the presentation/ takes the call /is present at the meeting, what’s important is that the organisation experiences success as a result of the Partnership working together. Practicing humility through a consultative approach in the interest of the Jobshare not only enables the Partnership (and associated lifestyle) to thrive, it increases productivity and enables the Partnership to make more innovative, brave and strong decisions quickly, because there’s another to consult, to bounce ideas off and to rationalise with.

“It’s wonderful having another half who has exactly the same knowledge of the job as you do, and also exactly the same interest in making that Job a success” (Maggy Pigott CBE)

Of course sharing in the successes of the Jobshare also mean sharing in the mistakes and this leads me to a second important advantage of practicing humility.

Always Present a United Front

Practicing Humility in the interest of successful Jobsharing means developing and presenting a united front irrespective of differences. When differences in approach inevitably emerge it’s crucial to have a strategy for containing and resolving these within the Partnership because commitment to being consistent to everyone outside of the Partnership; colleagues, team, manager, clients, suppliers, is crucial for the development of Trust.

Experienced Jobsharers say that when a difference leads to a disagreement, it’s almost always due to incomplete communication. By engaging in dialogue as opposed to debate when differences emerge, each has the opportunity to explain fully their rationale and challenge with reason. Through approaching this process constructively, a shared way forward can be established and importantly the opportunity to respect and get on board with what’s best for the Partnership to deliver.

Another key success factor is summarised neatly in this salient point made by Maggy Pigott as she reflected on habits that led to the long-term success of their 23 year partnership:

“we always adopted the rule it a rule to never unpick anything the other had done, we would always move forward, even if we would have perhaps dealt with it slightly differently ourselves”

Food for thought

We only need to look at crucial leadership traits to discover how core Jobsharing skills like self-awareness and acceptance, communication and humility can translate into developing successful leaders. In a recent survey by Catalyst Research (which I discovered in the Harvard Business Review), leaders with increased self-awareness and a greater focus on relationships achieve greater commitment and performance from their teams.  So whilst these skills are required and developed through Jobsharing, they are also important characteristics of future leaders.  If you’d like to find out more about Jobsharing and how it could work for you or your organisation, please contact us at www.ginibee.com/contact-us.html

We can all have our cake AND eat it with Jobsharing!

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With changes to flexible working legislation last June and shared parental leave coming in this month, there has never been a been a better time for organisations to focus on expanding their flexible working strategies.

In an ideal world, we would like to offer a strategy that enables career progression AND work life balance WITHOUT compromise for either the organisation or the employee.  Too often there is a disproportionate amount of compromise from either the organisation (e.g. offering a role as part-time, when really it needs to remain full-time), or the employee (e.g. being told their role can’t be scaled down to part-time and having to compromise either career or family life).  What if I told you that a strategy exists that offers equal benefits to organisations and employees, not only that, but it is successful and is being done already?

Jobsharing is the only flexible working strategy that offers career progression on a part-time basis to the employee whilst offering full-time cover, improved productivity and continuity to the organisation.  However, it’s take up is low and even organisations that consider themselves supportive of flexible working often don’t consider Jobsharing.  Instead, they simply pass requests to work part-time and scale the role down or offer an alternative.  The longer-term problem which can arise as a result of too many part-time roles is lack of continuity within departments, meaning organisations don’t thrive and in some cases, barely survive.  Alternatively rejecting requests to work flexibly can have a substantial impact on productivity, sickness and absence costs and employee engagement.

Successful Jobsharing has in built processes to ensure continuity and handover. The problem is not enough people know how to meet a partner and how to do it right.

GOOD NEWS! Ginibee has a Jobshare Matching programme which creates successful Jobshare partnerships and helps companies to implement successful Jobshare schemes.  If you’d like to find out more about Ginibee and how we can support you, check out www.ginibee.com or contact me at sara.horsfall@ginibee.com

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