Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

Building a Team: Employee Retention Tips
Sep30

Building a Team: Employee Retention Tips

Tumisu / Pixabay Employee retention and engagement is critical for the success of any company. A 2019 Gallup report found that the cost of replacing an individual employee can range from 1.5 – 2 times the employee’s annual salary. If your business has high employee turnover, you’re expending unnecessary money, time, and resources. Employee turnover isn’t only expensive; it also can lead to low morale, a lack of productivity, and poor or disjointed customer service. The downside to recurring employee turnover is significant and the stakes have risen even more during the pandemic. Even for those companies lucky enough to withstand the challenges of the pandemic, many businesses now face new questions related to employee recruitment and retention. How do you build a team post-pandemic, motivate them to excel, and keep them engaged? This article is the third in a four-part series that is examining the evolution of building a team to thrive in today’s marketplace, including hiring, onboarding, maintaining the team, and ongoing team building. Check out the first article that covers hiring tips and the second piece that explores onboarding. A great deal of uncertainty exists around employee retention and business leaders must adjust to meet the moment. Despite these challenges, businesses have new opportunities to identify and build exceptional teams that will power a company’s growth. When it comes to maintaining a consistent team, the best strategies are as much art as science. Science of Employee Retention The science side of retention starts with the numbers and […]

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How ESG Programs Can Combat the Great Resignation
Sep29

How ESG Programs Can Combat the Great Resignation

WeSpire has compelling research that shows that embracing a strong Environmental, Social, Governance (ESG) strategy is one critical way to combat the great resignation, by keeping the employees you have. In our State of Employee Engagement research published earlier this year, 93% of employees who said that their company was making a strong positive impact in this world were planning to stay in their jobs. For employees who did not agree with that statement, only 50% were planning to stay with their employer. In her book How to Change, author Kay Milkman cites the importance of reset dates or events that enable a mental fresh start. Hence the popularity of New Years, birthdays, and Mondays in behavior change. In the emerging “great resignation”, where an estimated 41% of people will change jobs, the pandemic has catalyzed a giant, global career reset event. People experienced the benefits of flexibility and remote work and will leave if they can’t retain it. Some took stock of grueling hours or work conditions and said, “life’s too short”. Others realized they to make a difference in this world and are looking for jobs with more meaning, purpose and impact. So how do you convince people you are a force for good in this world? Have clear, transparent and motivating ESG goals No matter what industry you are in, you have an opportunity to be more sustainable and inclusive, engaged in your community, and improve employee wellbeing. But if you haven’t set goals, you have little […]

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Continuous Feedback Is Still Not Enough
Sep29

Continuous Feedback Is Still Not Enough

Many organizations have decided to ditch the once-a-year annual appraisals, and implement quarterly check-ins and continuous feedback. This is largely due to a switch in the generational workforce. Millennials and Gen Z now constitute almost 50% of the workforce. While all employees want feedback, younger generations want it the most. They want recognition for jobs well done, corrective feedback on what they need to improve, and transparency into their career paths. But continuous feedback isn’t enough to develop and motivate these workers. 1) Feedback has to be constructive Feedback has to be constructive. Said another way, ‘great job’ and ‘kudos’ does not develop or motivate employees. The feedback has to be action-based, effort-based, and forward-looking to truly change the behaviours and actions of employees. Better feedback will ultimately lead to better performance. 2) There should be multiple feedback sources More and more employees are working in multiple roles, across different teams, with several managers throughout the year. In some organizations, employees may not even work with their direct managers for months on end. Feedback from a direct manager that rarely interacts with an employee will be error-prone and plagued with biases. However, if an employee receives feedback for multiple different sources, including their team leads and peers (aka 360 feedback), a more accurate picture of an employee’s performance will be captured. This subsequently leads to more strategic training and talent decisions. 360 feedback has gained popularity over the years. More than 85% of Fortune 500 companies use 360- degree feedback […]

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How Well Do You “FEEL INTO” Situations?
Sep29

How Well Do You “FEEL INTO” Situations?

A note in my LinkedIn message box last week. I am also a podcast host and launching my book xxxxxx. Nice to be connected to you. Would you be interested in receiving a copy of xxxxxx, and you can feel into me being on your podcast? The writer is a professor at Stanford University and teaches conscious leadership. I adore her very conscious use of the phrase feel into me being on your podcast. Nice. There is a certain grace about feeling into things. And, you may wonder, what exactly does “feeling into things” look like? Last Thursday I had a planning meeting with 3 esteemed colleagues. We’re supporting a leadership team at a pharmaceutical company that’s in the midst of some major firefighting. Folks are under-resourced. Overworked. Burned out. This meeting wasn’t about more data collection. Crafting surveys. Planning focus groups. There wasn’t time. In a very real sense we have two minds, one that thinks and one that feels.” Daniel Goleman No, it was a time to feel into a situation. What sort of action would be helpful, what wouldn’t? Based on our collective wisdom. Years of experience. Finely honed instincts. Feeling into a situation means paying attention to what feels right, what doesn’t. It may require tossing some well-wrought plans to the wind. Does this sound a tad woo-woo? It’s not. We’re in emotional intelligence territory. Daniel Goleman, Harvard professor and author of the classic “Emotional Intelligence,” has spent 25 years writing books and fostering research on […]

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Time Management for Managers – Tips For Working During the Pandemic and Beyond
Sep28

Time Management for Managers – Tips For Working During the Pandemic and Beyond

When new team leads are promoted, I interview them to discuss the challenges of being a leader. I usually mention something a mentor told me long ago about success in life and the workplace — focus on these three traits: be honest, hard-working and smart. These principles are a simple version of Warren Buffett’s values on hiring new employees and are critical to your success — and your team’s and company’s success. Honesty is the most important, because even criminals can be hard-working and smart. Honest people will contribute the most to the company or client they’re working for. Are you stealing time when no one is watching? Is the company getting what they’re paying for? Are you working at a comparable rate to what you’re producing? Are you smart? Are you efficient at what you do, but not afraid to look for new ways to do things and improve efficiency? If you feel like you can get away with slacking in any of these three areas, the results will eventually show. Good time management skills are critical to success as an employee, especially for those working from home. When you become a manager, time management becomes increasingly crucial, because fewer people monitor your every move. Also, for those working from home, distraction is all around. The dog needs attention, the dishwasher needs to be emptied, the kids are home from school, etc. Here are some essential tips I’ve found to help managers make their time – at home or […]

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