Fair pay is essential to foster lasting success and growth within your company. When employees are compensated equitably for their contributions, you will spark a sense of motivation and commitment within your teams. This builds trust and loyalty between your workforce and organisation. Fair pay can be more than just a financial transaction – you can leverage it to create a thriving environment where the individuals and the company flourish together.

The link between fair pay, retention, and growth isn’t just anecdotal – it’s backed by data. Studies consistently reveal that companies prioritising fair compensation outperform their peers in terms of revenue growth and profitability. A motivated, committed, and stable workforce fuels innovation, customer satisfaction, and ultimately, the bottom line.

Fair compensation practices don’t just impact the internal dynamics but also shape the company’s external image. Demonstrating commitment to fair pay creates a positive reputation, attracting top-tier talent in a competitive job market. It also nurtures a culture of trust between employers and employees, creating stronger long-term relationships.

More often than not, companies aren’t paying unfairly on purpose. It is a byproduct of neglecting salary research and reviews within their people management process. However, we recognise that it is challenging to exactly define what constitutes fair pay. Some considerations include:

• Job responsibilities and skills
• Salaries internally for similar roles
• Market conditions
• Company size and industry
• Geographic location
• Experience and seniority
• Other benefits within the package

It usually happens one of two ways when an employer finds themselves with inequitable pay in their business.

1. They are hiring in line with industry standards or based on the individual’s last role but aren’t reviewing existing staff to keep them at this rate.
2. They are hiring at the rate of their existing staff, but these aren’t being brought in line with industry standards.

Every business feels the effect of inflation and other economic pressures. So do their teams. Salaries should be reviewed regularly and increased in line with external factors to keep staff on a like-for-like pay scale. Creating pay bands is also a fair and objective way of ensuring salaries align with the role and means that people have an opportunity to develop and grow in their current position, without having to look to the next promotion as a key milestone for a pay increase.

Increasing your teams pay may seem like a cost to your business, but the long-term benefits usually outweigh the initial sting. When employees feel that their compensation aligns with their responsibilities and the market standards, they are less likely to seek opportunities elsewhere. This reduction in turnover translates to substantial cost savings associated with recruitment, onboarding, and training, while also nurturing a stable and experienced workforce.

As priorities amongst candidates continue to evolve, the spotlight on pay equity will remain crucial. Organisations that prioritise fair compensation, diversity, and inclusion are better positioned to create an environment that fosters innovation, collaboration, and sustainable success. It’s an ongoing journey that requires vigilance, self-assessment, and a commitment to creating workplaces that reflect our highest values.

Need help making sure your salaries are working for your team as well as your business? Get in touch today at [email protected].

Written by Charlene Craig

Hiring isn’t easy. It’s time intensive, but it’s high-value work. If you spend the time to hire the right people, your business will grow.

I am not professing to be a business guru, but I have been exposed to enough podcasts, books, and real-life experiences to form an opinion.

The leaders who have hiring on their priority list, who give HR and recruitment a seat at the table, are the ones who grow most sustainably.

Businesses often stop at ‘it’s hard to hire’ and don’t dig much deeper into how these skill shortages impact their business – not just from a retention standpoint, but also from an output, profitability, and growth perspective.

The Open University recently released the results of an NI business survey. It noted that 83% of organisations agree they are currently facing skills shortages.

The survey went on to show that 75% of organisations found that these skills shortages had caused an increase in workload for other staff. This increased pressure on your existing teams creates a vicious circle – you lose a key player, pressure increases on the existing team, they become unhappy and leave, and you’re left with an even bigger gap in your talent pool. And so, it continues. 

If your team members are consistently under extra pressure without reward or recognition, they will inevitably seek a role that pays them their worth. It exacerbates the challenges with recruitment because it means that instead of hiring for growth, you’ll be hiring to replace lost talent.

More worryingly, the survey also found that 82% of businesses had experienced reduced output, profitability, or growth. Of course, this is not all because of the skills shortage – inflation is also a contributory factor. The cost of business is going up, so it’s normal for this to impact your bottom line. But while it can’t all be attributed to the skills shortage, it does have a big part to play. When you don’t have a team with the right skills, it takes a lot longer to get a lot less done, having a knock-on effect on your profit and output. 

These stats highlight that it is more important than ever for businesses to start managing their talent effectively if they hope to grow. Businesses need to be intentional in how they are forecasting, attracting, and retaining their talent.

The first step in tackling these issues would be diagnosing any existing challenges through stay interviews or similar techniques and starting to map your existing talent to identify skills gaps. These exercises will give you a real-time view of the situation, allowing you to deal with these problems before it is too late. 

Once you are clear on your current position, it is time to review your employer brand. How do you attract the best talent to join your business? What is your market reputation? What makes you different from other employers? Speaking with people who have interviewed or been offered roles but have not taken them is a good starting point – their feedback will help you build a deeper understanding of the perception of your business.

By looking both inwards and outwards, you build a picture of where the challenges lie in attracting and retaining the skills your business needs to succeed. However, it is worth noting that even once you have identified areas you could improve, there is no overnight fix – it takes time to establish trust within your teams and the wider market, but those businesses that have adopted this approach earlier in the game, are the ones who are reaping the benefits in a tight talent market. 

Tackling the skills shortage

It’s a bit of a juggling act and does require investment, but there are some ways to mitigate the impact of skills shortages on your business:

• Develop your talent – while this takes time, it will pay dividends in the long run.
• Hire talent externally to fill the gaps – it’s easier said than done.

Addressing the pressures on your team

The main way to overcome this is by being proactive with succession planning, rewards, and recognition. Make sure your team feel like they are rewarded fairly and conduct “stay interviews” to ensure you have your finger on the pulse.

Protecting against reduced output, growth & profitability.

Having the right people, in the right seats, at the right time will help mitigate this. Businesses are all about teams – if you build a high-performing team with talented individuals with the required skills, experience, and behaviours, your business can buck the trend and grow.  

If you’d like some help with diagnostics, improvement plans or general recruitment & development of talent, get in touch for a no-obligation chat with one of our consultants.

Written by Michael Hewitt

Written by Chris Mullan

The term “Employee Voice” means different things to different groups. According to the CIPD, it refers to “the means by which people communicate their views to their employer and influence matters that affect them at work.” Whether done collectively or on an individual basis, if employees are not being heard or are being ignored, they will remain silent. It is an important area for businesses to focus on, and it should form a key metric in your people strategy. It can improve engagement, knowledge sharing, and learning, and boost employee well-being and resilience.

Michael Armstrong, a prolific author of many management books, identifies four purposes of the employee voice:

• It helps organisations understand employee attitudes about work.
• It presents a form of collective organisation to management.
• It influences leaders’ decisions on work-related issues.
• It shows the reciprocal nature of the employment relationship.

Why is Employee Voice important?

At Corvus People, we understand how important it is to listen to all employees’ views and opinions for the future of the organisation. We have put mechanisms in place to enable an ongoing conversation throughout the year in various ways to ensure everyone is and feels heard. Given the number of years of experience in our team, it would be absurd not to listen to feedback, discuss it as a team, and act on it. As a result, we have become more productive, innovative, and engaged. We have a fantastic culture where no idea is a bad one, and everyone feels safe to raise their points and concerns.

How can Employee Voice be encouraged?

There are many ways to encourage employee voice, the most common being engagement surveys that most participating companies run annually. However, there are other ways to promote the employee voice. Through the use of “Stay Interviews,” you can listen to your talent on a deeper level and proactively engage individuals to enact change within the business. This approach works more effectively than “Exit Interviews” as, by that point, the employee has already decided to leave, and counteroffers generally do not work. Throughout these activities, it is crucial for employees to feel safe in providing feedback and feel confident that action will be taken.

Some of the skills required to help promote employee voice are:

• Active Listening: Through active listening and being present during conversations with employees, we demonstrate our commitment to understanding and valuing input and creating a safe space for communication.
• Feedback: Regular feedback on performance, behaviours, and contributions encourages continuous improvement, and valued input from employees, and boosts engagement.
• Transparency: Through openness and the sharing of information, trust is built within an organisation, and employees understand the organisational priorities. As a result, they feel more invested in decision-making.

Through promoting Employee Voice, effective listening and timely action, trust can be built, retention can increase, and advocacy can be greater. Decision-making can also become more inclusive, leading to knowledge sharing, innovation, and improved well-being for all.

Written by Chris Mullan

Belfast-based consultancy firm, Corvus People, has launched a new HR for Growth service aimed at helping their clients harness the power of people to drive business growth. The focus of this service, along with others offered by Corvus People, is to support businesses to recruit, develop, and retain the market’s top talent. Northern Ireland has skilled talent across various industries, but businesses are finding it hard to engage and keep their teams. Corvus People believes that now, more than ever, business leaders need to take stock of what their top talent requires to thrive.

According to recent research by the Chartered Institute of Personnel and Development (CIPD), Northern Ireland workers are least likely to say that their job offers good opportunities to develop their skills (31% v 25% UK average) or would help develop their careers (46% v UK average of 41%). Today’s talent is looking for more than just a salary, and the company’s culture is becoming increasingly important, including its approach to professional development.

Announcing the new HR for Growth service, Ian Weatherup, MD of Corvus People, said, “Our approach, since we started in 2011, has always been about people – they are the greatest asset to any business. Placing people at the centre of any business strategy is not only essential to business growth but is key to their success. Our collaborative approach with our clients means we become their people strategy partners. We work alongside them to deliver solutions across the entire employee lifecycle to support their teams and help them thrive.”

Ian added, “This is an exciting time for Corvus People as we prepare to work with businesses as they take that next big step toward growth and success.”

The new offering, HR for Growth, bolsters Corvus People’s existing solutions, which provide 360 support and integrate seamlessly into their clients’ existing processes. It costs more to recruit than retain, with some studies, such as the Society for Human Resource Management (SHRM), predicting that it costs on average 6-9 months’ salary to replace a salaried employee, which is why all Corvus People services are geared toward long-term retention.

Corvus Assured, the Executive Search methodology launched at the beginning of the pandemic, uses market-leading behavioural analysis tools to assess cultural fit as well as the skills match. This service creates long-lasting retention, with 97% of candidates still in position after 12 months and is already achieving notable success for a range of Northern Ireland and international clients.

Corvus People has built its reputation on helping businesses to manage change, reduce risk and improve their people strategies, and this new offering is no different.

Corvus People has extensive experience in working with clients across a range of industries, including manufacturing, technology, construction, and financial services. The company is committed to helping businesses of all sizes to develop and grow, and the HR for Growth service is just one example of this.

Businesses looking to improve their people strategies and drive growth can benefit from Corvus People’s solutions. The service offering provides a comprehensive range of solutions to support businesses in recruiting, developing, and retaining top talent. With one of Northern Ireland’s most experienced team of consultants and a focus on long-term retention, Corvus People is the perfect partner for any business looking to take that next big step towards success.

On 1st December 2022, OpenAI (co-founded by Elon Musk and backed by Microsoft) launched ChatGPT, a general-purpose chatbot that creates AI-generated content in a human-like response.

It brings AI to the masses as it offers non-technical people direct access to AI as you simply type your question, and it will reply to you in a few seconds.  This is the major step forward – predecessors didn’t have a user-friendly interface which makes it accessible to virtually anyone. Unlike previous AI, ChatGPT will admit to its mistakes, understand context, ask follow-up questions, and correct your false assumptions. 

There are endless potential applications – students writing end-of-term papers and assignments (it has already been banned by the NY City Department of Education), poetry, emails, answering philosophical questions and even writing limericks.

Today ChatGPT has the potential to significantly change how companies recruit by automating and streamlining activities to include CV/Resume screening, conducting initial interviews, Candidate matching and HR assistance (answering candidate queries). 

In the future, it will be able to assess soft skills and ask behavioural interview questions, but these will require interpretation by a professional recruiter or hiring manager. 

Currently, ChatGPT cannot search and find job-specific candidates and it is not a replacement for human decision-making and judgement in the final hiring process. 

The launch of ChatGPT has been described as a watershed moment and poses more questions on the ethics of AI.  How should it be regulated and what barriers and restrictions will be applied to searches?

Some sectors, such as traditional search engines are likely to be disrupted and the stakes are high.  Google launched Bard, their AI enabled chatbot, but an error in its first answer cost $100bn being wiped off their share price.  Microsoft also announced in that they are enhancing their Bing search engine with similar technology that ChatGPT is built on, which led to a 4.2% increase in share value. 

Every industry should be keenly watching to see what impact, both positive and negative conversational AI solutions could have on them.  

Companies, Hiring Managers, and recruitment companies should have AI chatbots on their Threats and Opportunities radar for 2023 to consider how it can be used to automate certain tasks in the recruiting process such as initial candidate screening, answering frequently asked questions, and scheduling interviews.

Footnote – thus far I have written this blog myself.  Below is ChatGPT’s reply to my query “What is the future of recruitment and technology”.

The future of recruitment and technology is likely to be marked by continued automation and digitization of various aspects of the recruitment process, from sourcing and screening candidates to scheduling interviews and onboarding new hires. This will likely result in increased efficiency and speed, as well as data-driven insights into the talent acquisition process.

In addition, there may be increased use of artificial intelligence, machine learning, and other advanced technologies in the recruitment process to make it more personalized and effective. This could include personalized job recommendations, candidate sentiment analysis, and predictive hiring analytics.

There may also be a greater focus on virtual and remote hiring, driven in part by the ongoing pandemic and the increasing trend towards remote work. This could lead to the development of new virtual recruitment tools and technologies that enable employers to reach and engage with a wider pool of candidates from around the world.

Overall, the future of recruitment and technology is likely to be shaped by a combination of factors, including advances in technology, changing workforce demographics, and evolving employer and candidate expectations.

Written by Ian Weatherup

I don’t know what happened…one minute it was going fine, and then the next, they had gone!

If you are a manager or employer who has found yourself saying this, in all likelihood, it wasn’t all going fine for a while. But a critical member of your team has resigned, and you’re left wondering what happened – and even worse, you have to move fast to replace them and their expertise.

Wouldn’t it be easier to retain your talent in the first place?

According to Bonusly, “Employee engagement is already one of the most important differentiators for modern organisations, and it’s on the minds of nearly every organisational leader”.

So, what can you do to help keep your top talent?

Creating strong employee morale and job satisfaction is key to ensuring you remain competitive in the market. After all, your employees could be the ones who bring in business, deal with customers and add to brand value. Your employees allow your company to grow and are crucial to business success.

Richard Branson is quoted as saying: “Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients”.

Hopefully, the following points are useful in your pursuit of retention:

Make the employee feel special. Ensure that your employees feel they are contributing to the company’s success. If possible, involve them in decision-making, let them take ownership of their role, and trust them to do their job. Recognise and reward achievements and motivate them to seek opportunities to learn. Continuing professional development is a key tool in ensuring job satisfaction, so creating an environment where learning is central will help you keep employees engaged.

Make sure that the package on offer is competitive in your industry. Notice I say package and not just salary. Nonfinancial benefits can include bonuses, recognition, on-site opportunities, training, work-from-home options, vacations, company shares, involvement in decision-making etc. All of the above can have a major bearing on employee retention. Combine this with a fair and transparent policy on promotions and you’ll help encourage your team to stay around.

Be flexible. I suppose this is the new mantra of lots of organisations regardless of size or sector. Given the changes to the global job market over the last few years it’s for the most part now an expectation that companies offer opportunities for a better work-life balance.

According to Owl Labs, “Companies supporting work-from-home have 25% lower employee turnover than the organisations that don’t.”

Try to match headcount to workload. It makes more sense to grow your team rather than put undue pressure on existing employees. Not an easy task in the current climate I know, but it will help to ensure that your current team remain focused on their core activities. You should forecast your team size along with your planned growth. Not only will this make for smoother running of the business should you unexpectedly lose a team member, but it will allow you to take on more work as it arises.

Be supportive and empathetic. Never forget that your team are people and, as people, are unique. Each will have different aspirations, motivations, attitudes, challenges, distractions, and frustrations so it’s rarely a one size fits all approach which works. However, ensuring that you spot when someone needs support for whatever reason and then doing something about it can mean a lot in terms of continued motivation.

Have a clear vision or mission statement. For your organisation that your employees understand, believe, and are committed to. Having a clear vision or mission statement is important for aligning employees towards a common goal, increasing motivation and engagement, establishing the organisation’s brand identity, and providing a framework for decision-making.

Of course, having a good employee retention strategy requires an understanding of real-life statistics and data. It is through analysing the trends within your business that you can identify the areas where you can improve.

Retaining top talent is crucial for the success of any organisation. To achieve this, companies need to create a positive work environment that supports employee morale and job satisfaction. By following these steps, organisations can increase employee engagement and reduce turnover, ensuring long-term success.

At Corvus People, we have a clear purpose – we want to see people succeed. We offer support across the entire employee lifecycle, and our range of solutions fits seamlessly into your business. Please get in touch if you feel we can help.

Written by Myles McKeown

Natasha Agnew

 

 

Regardless of whether you invest any time into it or not, we all have a personal ‘brand’. Simply put, a personal brand is how you are perceived by the people you engage with. It comes through in your conversations, the stories told about you, and even what you wear, so anyone you interact with will have some opinion of who you are and what you stand for. Because you are curating this brand all the time, either consciously or unconsciously, it is worth taking a step back to ensure that how you present yourself is truly aligned with your values and beliefs – and a good place to start is where you work.

Any brand, personal or business, should be created from the inside out. It isn’t about having the best logo, or the biggest following on social media – it goes much deeper. Values and purpose should be the foundation of any strong brand and informs everything from how teams work together internally, right through to the external initiatives the business supports.

While this is easy (or at least easier) to do on a personal level, it’s much harder as a company, but why? Businesses are an accumulation of people, all with their own values and beliefs, and sometimes these are misaligned from the start. Values are set by the senior team and when there is little buy-in from the wider business, these are diluted over time. This impacts the organisation as a whole and could also lead to damage to the brand from an external perspective.

As an example, a business can say that ‘openness’ is a value. This will form part of their external messaging and be promoted in their marketing materials. However, if the staff in the business conceal information from clients or are known to tell half-truths, the brand will be perceived as the opposite. This is why the values in your business must be representative of the values you hold, as ultimately, it is the staff that showcase them to the market.

Having an alignment between your business and personal brand matters – you spend a lot of time there, and the association alone will have an impact on how you are perceived. Let’s say, for example, you are a long-serving senior manager in a business with a poor reputation. How does this look to the outside world? People may assume that you, at least to some degree, align with the brand of the business. You have been there a long time, you have led the team, and you have had significant input into the business itself. As the old saying goes, actions speak louder than words – and what you do, or in this case, where you work, will have an impact on your personal brand.

We have covered the bad, but what are the positives of having alignment between brands? As cliched as it is – synergy. Synergy is working together to create a combined effect that is greater than the sum of their separate effects. When you align with your workplace, you become an advocate for them. You fit into the organisation, you feel connected and engaged with the values, and you support them wholeheartedly in their purpose. You work to create success, and this is shared together. Your personal and business brands will complement one another, and you can start to leverage their content to promote your own brand. It increases the reach of the business and, if you work for a strong brand name, you have an opportunity to utilise its status to enhance your own visibility.

So, what can you do to align your brand with the brand of your business?

Firstly, you should try to work with a brand that you believe in. You should hold similar values and feel confident that the way you do business is the right way. Of course, this is no mean feat if you are already in an organisation that you don’t align with, but it is worth considering the longer-term impact of working for a brand that you don’t believe in. When looking for a new role, it’s important to ask questions about culture and values to ensure that it is a fit for you. You should do your research into the company, look at the initiatives they support, and the messaging that comes from senior leaders in the business. At the end of the day, you can’t align your brand to a business if you don’t agree with anything that they stand for.

Secondly, you should tailor your message to suit your businesses brand. It’s unlikely that you will be an identical match to where you work – even if your values are the same, your priorities will be different. However, they will be similar and easily adapted to your style and brand. You should keep to the business’s tone of voice while adding your personality and views. Because your personal brand is just that, personal, it should always feel authentic to you. If you move to a new role, you will carry this with you, so you don’t want to appear like a carbon copy of the company LinkedIn profile. This might seem challenging, but if you are bought in to the organisation’s values and purpose, it will happen almost naturally.

Finally, be an advocate for your business. When you are proud of where you work, it is much easier to shout about it. It makes up a huge part of our lives, so we should be glad to share this with others. You can be an advocate for people to join your team, or for customers to buy your product. Either way, when everyone is working together and toward the same goal, success will be shared with all. Opportunities will also arise within your business that will benefit you in the long run. It could be to create new content, be the face of a campaign, or maybe lead a project. Regardless of what these opportunities look like for you, they will help you advance your career and bolster your experience.

Having a strong personal brand has its benefits – it can help you develop your career, get in front of potential clients and customers, and will give you more control over how you are perceived in the market. When this aligns with your business and is utilised for shared success, it can open up even more opportunities – not just for you, but for the wider organisation as well. And remember, your brand already exists, so make sure it’s true to you.

Mark McBride

 

 

 

“How management chooses to treat its people impacts everything – for better or for worse.” – Simon Sinek

Having conducted a recent survey on why people leave, I found it interesting that culture was identified as the number one reason that people left their last role. With over 43% of respondents giving this as their rational for leaving, it is clear that company culture cannot be ignored.

The results of the survey pose a few interesting questions as a talent professional – What exactly is culture? How much does culture really matter and why? Is hiring a cultural fit the way forward? And if so, how can you measure and assess this?

So, what is culture and why does it matter?  

Firstly, culture is a loose term with hundreds of definitions – some see it as something vague which cannot be controlled, others see as something simple that can be managed. For me, it sits somewhere between the two.

In my opinion, McKinsey & Company sum this up well, defining culture as:

“As the common set of behaviours and underlying mindsets and beliefs that shape how people work and interact day to day”

Because culture is created by a “common set of behaviours and underlying mindsets and beliefs”, the people who lead your business, and those who sit under them, have a huge impact on the culture throughout the organisation. Essentially, if those running your team have some bad behaviours or beliefs, this will trickle down and have a knock-on effect across the board. A good and bad culture alike can have various effects on your business, some of these are:

• Correlation with high / low performance
• Impacts employee engagement
• Culture impacts agility
• Research shows impact on long-term financial performance
• Culture differentiates you from the competition
• Culture is difficult to replicate
• Strong Cultures attract the right people  

Finding a Cultural Fit

From a recruitment perspective cultural fit is often talked about – this is how someone fits into an organisations culture. Get it right and you can achieve remarkable things, get it wrong and the culture or subcultures can become toxic.

An article in the Harvard Journal describes Culture fit as “the glue that holds an organization together”. That is why it is a key trait to consider when recruiting. The result of poor culture fit due to turnover can cost an organization between 50-60% of the person’s annual salary, according to the Society for Human Resource Management (SHRM).

Cultural fit is important in any recruitment process and is even more critical when making senior hires. Over the years, it is something I have heard clients ask for repeatedly when discussing assignments. When we ask clients how they assess cultural fit the answer is often “it’s down to gut feeling” or “we get the applicant to complete a psychometric test”. I would argue this is too simple a view, and to truly assess cultural fit it must be a two-sided process. The required behaviours needed for a role, and by the company, should be assessed by both the client and the candidate.  

So, how do we assess cultural fit?

At Corvus, our Executive Search methodology, Corvus Assured, makes this a little more scientific and is based on leading research into behavioural assessments. We use several behavioural tools that use AI to check for alignment between the clients needed and expected behaviours and that of the applicants. The process considers both sides – firstly the desired behaviours for a role, and then the actual behaviours of the person applying.

The starting point for this is to look at client expectations of the role, by having the key people involved in the recruitment process undertake an assessment that shows the key behaviours they want in a role. This is also an opportunity to check that they are aligned internally on what their expectations of the person are. Sometimes this gives interesting results, where clients expectations differ between people internally, and ultimately are misaligned. Clients often welcome this feedback, and it gives them a clearer picture of different perceptions and allows them to consider these in their decision making. Making sure the key stakeholders are aligned before starting the process is key to its success, after all, how can you find a fit if you all are looking for different things.

Some questions to help assess cultural fit

• What type of culture do they thrive in
• What type of values are important to them and why
• What do they know about our company culture
• What type of working environment do they enjoy

There is no simple, unified, way to assess cultural fit but there are tools to make the process more scientific and robust. 

So, in terms of the question, ‘does culture matter?’ I would say very much so – the Simon Senik quote at the start of this sums this up very eloquently.

If you would like to talk to us about a different approach to recruitment or some fresh thinking for your next hire. Please feel free to reach out. Corvus is a team of highly experienced and passionate consultants who deliver recruitment and HR related solutions to companies in NI, RoI, GB and internationally.