Top News of the Week
Amazon’s fulfillment center supports millions of businesses of all sizes from across the globe. The upcoming center to be set-up in DeSoto County is believed to create 500 new full-time jobs. In charge of picking, packing, and shipping large customer items, associates will earn a minimum of $15/hour, in addition to the numerous benefits starting from day one.
Kronos Incorporated revealed a staggering, triple-digit annual growth of its financial services business as banks and credit unions across the US adopted Kronos banking solutions to improve sales, digitally transform the branch experience and deliver superior customer service, and enhance operational efficiency and employee productivity. The adoption of Kronos Customer Connection Solution, which includes Appointment Concierge and Sales and Service modules, respectively – surged 225%. This was a result of numerous financial firms investing in technology to boost the account holder experience across all channels.
A leading UK-based software provider, The Access Group announced the acquisition of two companies in the HR Tech domain. People HR, an HR solutions provider and The Payroll Service Company, a Payroll solutions provider, now form part of The Access Group. Through these strategic acquisitions, The Access Group has extended its capability to serve an even wider range of organizations looking to power their success through their most important asset – their people. The acquisition will help the company serve its customer base by allowing them improved capabilities in terms of candidate attraction, management, and employee engagement.
Fuze revealed its new end-user adoption strategy, accompanied by the Fuze Adoption Services and Adoption Playbook. The framework enables enterprises to enhance employee engagement and productivity impact of the unified communications platform provided by Fuze.
Customer Engagement Company Verint Announced the Newest Release of Its Market-leading Workforce Management Solution
Verint Systems Inc. announced the latest release of its Workforce Management (WFM) solution in order to give companies a simpler way to manage work across the enterprise. The Verint WFM system makes use of AI-infused automation and new mobile tools to restructure forecasting and scheduling and improve employee engagement.
Q&A with the Expert!
As a CEO of an HR Tech company, how do you see the converging trend of leveraging Performance Management Technology for Marketing, Sales, Support and HR Managers?
“If your managers and employees aren’t using their talent management tool effectively or at all, the business won’t see a return on its investment, regardless of what department they work for. The biggest deciding factor for organizations choosing a talent management technology is user experience, so when a business wants the benefits of a continuous process an intuitive, seamless and social UX is critical.”
Excerpts from TecHR Interview with Doug Dennerline, CEO at Betterworks
Research and Findings
Less than 20% of the HR leaders actually believe that performance management is effective at achieving what it’s intended for! Of course, organizations nowadays are prioritizing performance management given its promising traits, but 81% of HR leaders are still playing with and experimenting with their firm’s performance management initiatives.
Jeanine Prime, VP in the Gartner HR practice said:
One of the reasons performance management initiatives are failing is the increasing demands placed on the outputs of the process. Today, organizations are relying on performance management efforts to inform compensation, promotion and succession planning decisions, as well as to drive employee performance, development and engagement.
A report by Virtual Vocations revealed that telecommuters are just as interested in employee benefits as their traditional counterparts—but not all remote professionals are getting what they ask for. 82.81% said they’d rather work from home full-time than have unlimited paid time off; a majority of those would be happy with a 20% reduction in pay if they are allowed to work from anywhere. 47.56% of those surveyed chose health insurance as their first priority with regards to benefits.
Korn Ferry revealed that salary increases across the globe in 2020 are expected to grow at about the same rate as 2019, and that slowing inflation will only result in an increase in real-wage salary growth. Around a 3% pay raise is expected in the US, which has been consistent for the last two years.
“While inflation indices are a solid benchmark for reviewing market trends in pay, we recommend that companies take a broader perspective by defining and agreeing upon their own measures of cost drivers, business strategy and local trading conditions. Compensation programs need to be regularly reviewed to make sure they align with changing business and market conditions.” – Benjamin Frost, Korn Ferry Global General Manager – Pay.
From the Team at TecHR Series
Many major companies including Oracle, Whole Foods, even Chipotle have boasted of 2 CEOs in the past. Deutsche Bank and SAP both have two CEOs. But how effective is it to have multiple leaders adorning the CEO’s throne?
We all know what Adam Neumann did with the company to bring it on the verge of extinction. Then, Softbank Group came to the rescue, paid Neumann $1.7 billion to step aside, and took the matter into its own hands to save the firm. But this came at the cost of 2400 employees being terminated.
The new “Chief” isn’t earning much goodwill either. Chairman Marcelo Claure shared Instagram stories of him enjoying a $100 pasta-tasting dinner a day after firing a workforce of 2400.
Not very sensitive, Marcelo!