Trust: Why It Matters and How Tech Can Help

Campaign/FTC disclosure: This is a sponsored guest blog post. I will receive compensation for this post. I only work with companies I feel have great products, services and offerings. In accordance with my blog disclosure statement, I will only work with and showcase products, events and/or companies I believe my readers will benefit from.  I am not formally employed by Ultimate Software. All thoughts and viewpoints are created and written by Adam Rogers of Ultimate Software. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.

Image courtesy of Flickr.

Image courtesy of Flickr.

Many Americans spend more time with their colleagues than they do with their families, so it’s not surprising that the strength of these relationships is important to job satisfaction. Trust, respect, and communication are vital aspects of a positive employee experience, but far too often, these critical factors are ignored or largely overlooked by organizations—perhaps partly due to the innate difficulty of tracking these metrics.

 

And how important is that trust, really?

 

Can I Trust You?

According to recent research, extremely. 9 out of 10 employees think trusting their direct managers is important to remaining satisfied at work, but less than half of employees actually do. An April SHRM study learned that respondents were not content with workplace trust levels, even when reporting high job satisfaction. And Rapt Media found more than a third of US employees feel like their companies don’t care about them at all—likely contributing to the 69% of respondents who said they’re either open to other opportunities or already seeking another job.

 

These statistics are concerning, raising red flags about productivity, retention, and everything in-between. Two-way trust is a crucial aspect of a stable, satisfying and successful work environment, but establishing and nurturing this within an organization can be difficult. Trust is certainly multi-faceted, at work as in life, but experts agree that communication is required, including transparency and responding to feedback. When implemented correctly, these communications tenets are valuable strategies.

 

In fact, 75% of workers said they would stay in an organization longer if their employer listened to—and addressed—their concerns. Can you imagine the financial impact of a 75% reduction in attrition?

 

Leveraging Technology to Cultivate Trust

To build a high-performing culture based on trust and communication, employers must effectively uncover their employees’ true feelings and respond appropriately. Many organizations currently rely on annual performance reviews, which can be quite valuable for assessing employee performance against pre-determined goals and objectives. But when it comes to obtaining quality feedback and insight into the employee experience, these infrequent evaluations almost always fall short.

 

Fortunately, technology has caught up with this significant need. Basic online templates evolved to sophisticated pulse surveys that can measure employee experience in real-time. In addition to yes/no queries and other quantitative tools, these innovative solutions can also decode open-ended surveys with exceptional accuracy. UltiPro Perception™, for example, uses advanced natural language processing and machine-learning algorithms to analyze text-based responses and identify key workplace themes, like trust, as well as the respondent’s underlying emotions.

 

This highly strategic tool can be effortlessly deployed at regular intervals to assess employee sentiment, either for the entire organization or filtered by location, position, manager, etc. Patterns emerge and business leaders receive real-time, actionable analysis and instant insights to improve trust, satisfaction, and retention within the organization.

 

These surveys allow leaders to measure how their employees feel about the hot-button topics frequently blamed for job dissatisfaction, such as family-friendly policies, growth opportunities, or job flexibility. Armed with data-based feedback about what matters most to their employees, executives have real power to evaluate and address pain points—building trust simultaneously.

 

For 46% of organizations surveyed in SHRM/Globoforce’s 2016 survey, employee retention was the #1 workforce management challenge. But it doesn’t have to be that way. By actively listening and responding to employees, it’s possible for organizations to solidify a culture of trust and communication—improving engagement, productivity, and retention in return.

 

Big Data Is Not So Big: Dun & Bradstreet Empowers Data-Driven Small Business

Campaign/FTC disclosure: This is a sponsored product review. I will receive compensation for this post. I only work with companies I feel have great products, services and offerings. In accordance with my blog disclosure statement, I will only work with and showcase products, events and/or companies I believe my readers will benefit from. Dun & Bradstreet has hired me as an influencer to help them raise awareness about their new Business Solutions Insights Microsoft Office 365 partnership with Ingram Micro Cloud. I am not formally employed by Dun & Bradstreet. All thoughts and viewpoints are created and written by me. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.

Image courtesy of www.dnb.com.

Big data has long been a debilitating term in the business world.

When it comes to business, we all would prefer to make better, more informed decisions. In order to achieve this, we have to collectively become comfortable with the notion of being data-driven. Making data-driven decisions has little to do with how “big” your data is, but rather how you make the data that you collect every day through transactions, interactions and prospecting work for you.

For many companies – be they Fortune 500 or small businesses – this data and information is often unstructured. This information both lives and dies in different systems, processes, and in some cases, people within organizations.

The key to being able to use this information to the advantage of the business is to aggregate all of your business insights simply in one place for anyone in the organization to use.

I had a unique opportunity to chat with my friends at Dun & Bradstreet® to discuss their recent participation at the Ingram Micro Cloud Summit held last week in Phoenix, Arizona. I also had the opportunity to get an exclusive demo of their new Business Solutions Tool for Office 365 available via the Ingram Micro Cloud Marketplace®.

Image courtesy of IngramMicro.com.

 Big data is not so big – when you break it down.

One of the recurring questions about big data is: What makes it so complex? In speaking  with Karlos Palmer, VP of Global Alliances and Partnership Strategies and Nakul Kapoor,  Senior Director of Partner Enablement at Dun & Bradstreet, they break down the  complexity of data into what they call the four Vs of big data:

  • Volume – The scale of data. This is how much data you have stored and living across your business.
  • Variety – The many different forms of data. From demographic information to customer profiles, the range of data you collect is both useful and innumerable.
  • Velocity– The analysis of streaming data. With the connectivity of things growing every day, there is a constant flow of data streaming at all times. Dun & Bradstreet® reported at last week’s Ingram Micro Cloud Summit that there are as many as 18.9 billion network connections (2.5 connections per every person on earth).
  • Veracity– The uncertainty of data. Unreliable data is costly to your business. It has been reported that poor data costs the U.S. Economy around $3.1 trillion per year. Somewhere along the data continuum, there has to be a cleansing of your data to be able to use it effectively.

The businesses that have yet to implement an operational call-to-action for data struggle in one of more of these areas.

As a small business owner, I understand the value of making decisions rooted in good data. What prevents me from exploring my options is my concern for how much it will cost me to implement a solution and the ease of use.

After seeing the demo of Dun & Bradstreet’s Business Solutions Add-in for Office 365, I am excited about the possibilities this product holds for small to mid-size businesses to make more insightful, data-inspired decisions.

Less is truly more.

Think about how you have traditionally created reports in Microsoft Excel® and imagine even the smallest sets of data reconciled with Dun & Bradstreet’s insights – only to give you more valuable information than what you started with.

Here’s how the Dun &Bradstreet Business Solutions Tool works:

  • Dun & Bradstreet has accumulated a collection of data around sales, marketing, supply chain and credit risk that spans its 175-year old history.
  • They have created an add-in in the Ingram Micro Cloud Marketplace that can be used with your Microsoft Office 365.
  • Through your normal reporting in Excel, you can take something as simple as a spreadsheet with name, email, and address – and have Dun & Bradstreet run your information against its over 30,000 sources.
  • What you get depends on which of the nine modules you use across sales, marketing, supply chain and their advanced data tools are insights like:

– Understand Your Customers™ module – this module allows you to bring in a minimal amount of data points and in return gives you insights on your customer’s history, market behavior, etc.

– Get Prospects List™ module- this module allows you to search your customer list and get a targeted view of customers you should be meeting with when you go on the road for meetings and conferences, etc.

  • Your data is now reliable because it is driven by Dun & Bradstreet’s D-U-N-S Number® that connects demographic information with just about everything a single business does over the lifetime of their business (credit standing, sales and marketing, industry, years in business, business hierarchies, etc.).
  • All of the segmentation and data cleansing is done for you. Every record comes back with a rating for Dun & Bradstreet’s success in matching your record with their sources.

How much will it cost you?

This is my favorite part. The Dun & Bradstreet Business Solutions add-in is available to us with a minimum investment of $25.00 per month (note: The price may increase if you have to purchase the Microsoft Office 365 suite as well).  However, if you are already a Microsoft Office 365 customer, you can simply download this free add-in and enable it by depositing increments of $25.00 into your Dun & Bradstreet Business Solutions account.

Every time you run a module, the product will draw from your existing balance. Most queries charge $0.75 per record or per list of 25 records.

How can you get it?

Dun & Bradstreet’s Business Solutions Insights for Office 365 can be purchased in the Ingram Micro Cloud Marketplace by clicking here. You can also purchase it through any Ingram Micro Cloud reseller.

Enterprise quality solutions are now available for SMBs. This is an exciting step in all of us becoming data-driven inspired business owners.

To read the press release regarding Dun & Bradstreet’s partnership with Microsoft Office 365 and Ingram Micro Cloud click here.

 

 

Are You Making Sensible HR Technology Choices?

Image courtesy of Flickr.com

Technology is evolving rapidly. HR Technology is a subsection of this innovation, and is also evolving rapidly in its own right. In addition to rapid expansion, HR Technology appears to be lucrative as well. According to a 2014 Forbes Article by Josh Bersin, the HR Technology market is a $15 billion dollar market. With that kind of money backing this industry, there are endless options and opportunities for both for HR Tech companies and potential buyers.

With more and more leaders shifting their focus to talent management strategies, having the right technology working for you is an operational imperative. The trouble with having all of these choices and options at our fingertips is it is overwhelming. From experts to reports, whitepapers and admittedly bloggers like me- it can be confusing to digest all of the tips, tricks and advice that is out there.

The purchase of HR Technology is one of the larger investments we make in HR. In many organizations, the request to purchase technology is enough to make your CFO gasp and that is even with the proper justification backing the request. If you’re going to invest money in new technology to facilitate your operations; it would make sense to do your homework on the market to ensure you are making the right investment.

You may be thinking ” well that’s obvious, Janine”. My experience has taught me that companies are not as dedicated to a proper selection and implementation process as you may think. More often than not, the purchase of HR Technology is lead by good intentions, distorted by unrealistic expectations and compromised by flawed decisions. One of the things that drives me mad about organizations is: when they choose a provider based on market presence or some other arbitrary factor without holistically considering other important factors like: customer satisfaction, customer retention, their specific niche, and how the technology will improve or facilitate operations etc. Instead, they end up making the wrong decision or poorly implementing a good system, because they were unclear about their requirements. Additionally, they forget to spend a fair amount of time thinking about the inherent limitations and opportunities involved with the purchase.  The criteria I mention are just a few of the many things that should be considered when looking to purchase HR Technology.  As an HR practitioner and potential buyer, half your battle is understanding how important it is to give yourself and your team adequate time to evaluate your HR Technology of choice before purchasing.

Now for some help…

Recently, I was fortunate enough to receive the G2 Crowd Grid for Recruiting Software from my friends at Ultimate Software. While it should not be your sole data point for deciding what to choose- it is certainly a step in the right direction towards making sensible HR Technology purchases. Perusing this report, you will find scores for satisfaction, market presence, number of ratings etc. You can even compare HR Tech providers to see how they stack up when it comes to implementations, contract terms and pricing.

If you are in the market for a new ATS or other HR Technology-this report is worth reviewing. You may even be surprised to find out who is leading the HR Technology landscape at the moment- I know I was. I will hint that some of my favorite Recruiting Technology providers are finally receiving the kudos they deserve.

You can get a glimpse of the report below. The grid as pictured below shows how Recruiting Technology providers stack up when it comes to ‘satisfaction’.

 

For the a free, full report and the ability to run your own analysis of Recruiting Technology providers, click here.

Have an HR Technology Implementation question? Set up a 15 minute Talent Strategy call with me here.

 

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