Horizon Point Consulting

Category: Beyond Work

Beyond Work is our line of resources for people and community leaders looking for something new and innovative outside, be it a new job, career change, or personal development outside of work.

  • SAC Preview: Workforce Challenges and Solutions

    SAC Preview: Workforce Challenges and Solutions

    This morning I read about 3 economists who’ve been awarded the Nobel Prize for their research and impact on critical workforce issues including minimum wage, immigration, and education. Their research on minimum wage in the 1990s found that raising the minimum wage had no effect on the number of employees, showing that companies could effectively raise the minimum wage, retain top talent, and increase the number of applicants in the labor pool. That was 30 years ago. 

    We’ve come a long way, but as we find ourselves in 2021, employers struggle to find and retain talent – particularly in retail and hospitality. So, we’re changing things up. Hourly wages are increasing in our local area and throughout the US. Read these highlights from writer Gene Marks in The Guardian this week: 

    “According to data from the US Bureau of Labor Statistics, the average hourly earnings of all employees in the US working for private companies rose to $30.85 in September, following large increases in the prior five months…The National Association of Manufacturers says that its members plan to increase wages 3.5% over the next year…Those businesses that accept this reality will adapt and continue to profit. They will hire good people and succeed. Those business owners that refuse to understand this simple concept simply won’t.”

    Bank of America, Walmart, Amazon, Costco, and more are raising wages for the lowest-paid workers. By raising wages, big business and small business alike are seeing benefits such as higher employee engagement, improved customer satisfaction, and better public perception. 

    As one restaurant owner said, “We put the focus on ‘staff comes first and everything else comes second’…I can’t succeed without a staff.” 

    We can make a shift together. As employers, as community leaders, we can move the needle forward and create workplaces that put People First. 

    My team’s wonderful leader, Mary Ila Ward, is speaking in-depth about Workforce Challenges and Solutions at the Southern Automotive Conference this week. I hope you’ll join us to hear her insight on the future of work.

    Learn more about SAC2021 and other upcoming events at linktr.ee/horizonpointconsulting. 

  • World Mental Health Day- October 10th, 2021

    World Mental Health Day- October 10th, 2021

    As World Mental Health Day approaches, let’s help end the stigma around mental health in the workplace. 

    Did you know? 

    • Pre-Covid, 19% of adults in the US experienced a mental illness, and that number has increased 1.5 million since the start of the pandemic. (MHA)
    • 24% of adults with a mental illness report an unmet need for treatment. This number has not declined since 2011. (MHA)
    • 10.8% of Americans with a mental illness are uninsured. (MHA)
    • 1 in 5 Americans experiences mental illness. (NAMI)
    • Only 45% of American adults with mental illness seek treatment. (NAMI)

    Mental Health America ranks states based on the prevalence of mental illness and access to care. Alabama ranks #40, meaning there is a higher rate of mental illness and fewer resources available to those in need. Where does your state rank? And what can employers do to help not only your employees but also their families? 

    1. Educate yourself. Understand what mental illness is and what it is not. The World Health Organization (WHO) is helping to bring mental health to the forefront on World Mental Health Day by providing a series of workshops that includes topics like Mental Healthcare for All and Mental Health in the Workplace. There are other great resources out there to help educate on mental illness as well, including those available from NAMI.org and MHA.
    2. Provide resources. Make sure your organization provides resources to employees such as mental health benefits within your healthcare plan, an EAP, mental health days (or as Adam Grant refers to them, “sad days”), or wellness programs. But also make sure your employees know these benefits are available to them. Highlight a mental health benefit in your quarterly newsletter, provide comprehensive open enrollment informational sessions that highlight what each plan offers, work with your EAP or wellness program providers to come onsite to do trainings, and make sure you have information posted in the break area on these benefits. 
    3. Know the warning signs. Just because someone says they’re “fine” doesn’t mean they are. Know what to look for such as sudden changes in mood or behavior (keep in mind that these changes can be manic or depressive in nature), difficulty concentrating or meeting deadlines, sudden significant changes in weight or appearance, or complete withdraw. 
    4. Be vulnerable. First, be willing to listen, really listen. If an employee comes to you, be an active listener, let them know you have the time for them. Set everything else aside. Sometimes just having someone listen can make all the difference. And be willing to share, to let down your guard a little, and be honest. As Mary Ila mentioned in her post Taking a Walkabout, we all came to a point where our stress overwork, family, and other things got the best of us and during our recent quarterly planning meeting we all just stopped, took a deep breath, and allowed ourselves to be vulnerable. We all had a snippet of information about things that were going on in each other’s lives, but up until that moment, we didn’t know the true extent of those stressors and the impact they were having on us as individuals, and as a team. 
    5. Take action. This is one I hope you never have to use, but know that if you have reason to believe that there is an immediate threat that an employee may harm themselves or others as a result of their mental health, there are resources available for you to contact to get them the help they need quickly. The local police department will always do a wellness check if requested. 

    How can your organization help end the stigma around mental health in the workplace? 

     

  • Three Steps to Effective Business Writing

    Three Steps to Effective Business Writing

    How many emails do you get each day? How many pieces of paper pass through your hands in a week? 

    Written communication is the #1 form of communication used in the workplace. Whether it’s communicating with supervisors, co-workers, clients, or vendors, we are constantly sending written communication back and forth. 

    The top issue I hear from clients is a lack of effective communication in their organizations. And usually, that includes inadequate written communication. Effective business writing can have a huge impact on an organization’s ability to grow. Look at any job description and you’re likely to find the requirement of “excellent communication skills, both written and oral”. But while it’s extremely important and in most cases required, there are few resources on how to be effective in business writing. 

    Industry in the US is becoming more remote and more global, which means that effective writing is even more critical now. So how can you be a more effective writer and how can you train your employees to draft effective written communication?

    There are three key steps to effective business writing: 

    1. Prewriting: Before you put pen to paper or fingers to the keyboard, think about why you’re writing, who your audience is, and what you need to convey. This is best done by creating an outline and there are three common outline formats. Just remember, there is no right or wrong way to create an outline. Use the method that works best for you. (I’m a classic outliner, cluster outlines stress me out!)
      1. Classic outline: uses roman numerals to outline sections and sub-sections (headings & sub-headings)
      2. Full-Sentence outline: Uses full sentences to outline each paragraph/topic (estimate total paragraphs/sections)
      3. Cluster outline: Similar to brainstorming, jot down ideas and cluster similar ideas together to create main topics and sub-topics. 
    2. Drafting: Once you’ve created an outline, now you’re ready to put pen to paper or fingers to the keyboard. Keep in mind, a first draft is a rough draft, it’s not meant to be perfect. A few rules to keep in mind as you sit down to write:
      1. Know yourself. Where do you do your best writing, what helps you to concentrate? Are you in the right mind to write or do you need to come back to it at a later time when you’re in a better mental state? 
      2. Once you start, don’t stop. Let your thoughts flow without hesitation. Don’t stop in the middle and take a break, you might break your train of thought or lose your stamina. And don’t try to edit as you go, just write. 
      3. Once you stop, walk away. Don’t immediately start editing your first draft. Take a break, whether that’s 15 minutes or two days. Give your mind time to settle back down and absorb what you put on paper. 
    3. Editing: Now that you gave yourself that break, come back to it. Read it and start analyzing it. Did you get your points across, is it in a logical order, does it speak to your audience? Once you think you’re done, have someone else take a peek. Ask them to read it both for understanding and for grammar. Here at Horizon Point, we always have someone proofread what we write, from blog posts to proposals, to reports for clients (and yes, sometimes even emails before we hit send). 

    Once you have the three keys to business writing down, start to consider how you can measure the effectiveness of your writing. This will vary depending on the type of communication and what your goal was. You may find that you need to measure quality, quantity, or both. 

    Could your organization benefit from more effective business writing? 

  • Your Local Wage Survey is a Gold Mine

    Your Local Wage Survey is a Gold Mine

    Does your area have a local wage and/or benefit survey? Do you participate? You should! Here’s why and how. 

    National wage reports are helpful to study the big picture of economic growth, but these reports might not (probably don’t) reflect the small picture of your business in your community. Further, a 2021 study found that U.S. workers may get 19% less than federal estimates:

    Some tools, like CompAnalyst and SHRM, offer comprehensive data (for a hefty fee) that can be helpful in determining pay ranges and comparing company wage data to industry benchmarks. We use resources like these for some larger compensation analysis projects. Even still, we use data from the local wage survey to further validate and strengthen our recommendations. 

    Community-based benchmarks are critical for organizations to attract and retain talent. Our area is heavy in aerospace and defense contractors, and the competition for talent is fierce. Many of these organizations rely almost entirely on the local wage and benefits survey to drive compensation decisions year-to-year. This year especially, organizations are looking for real-time information about how the wage and benefits landscape has changed in the last 6-12 months. 

    Now, I’ll drop a note here to acknowledge that companies with multiple locations throughout the U.S. and/or multinational operations might have more limited local decision-making power. We work with many multinational organizations in our community, and the local wage and benefits survey is the most impactful resource for local leaders to demonstrate the need for changes to their top leadership. It might take longer to move the needle, but starting with meaningful, local data goes a long way. 

    In support of my argument that local wage and benefit data is invaluable, we regularly receive questions from businesses, chambers of commerce, economic development agencies, local governments, etc., about wage trends in our area. This data is not just for wage decisions in individual companies; this data is used in city and county economic and workforce development decisions. 

    Below is a snapshot from a report we recently provided for the local chamber. They wanted to know if there had been an increase in median hourly wages, particularly in manufacturing.

    The wage and benefits survey we administer annually collects aggregate data for Production, Maintenance, and Warehouse positions. Comparing the local wage data as of 01/01/2020 with local wage data as of 01/01/2021, we were able to discern if and how much hourly wages grew for these job categories. This information helps business and community leaders make informed decisions to attract and retain people and their families. 

    So here’s my point: local wage surveys benefit you personally

    …as an employee who wants to be paid fairly 

    …as an employer who wants to attract and retain talent 

    …as a citizen who wants to live in a thriving community 

    If you hold a role at your organization with influence over internal compensation decisions, or even if you don’t, I encourage you to participate in local wage surveys on behalf of your organization. When more businesses participate, the data is more robust and meaningful for individuals, organizations, and communities. 

    If you aren’t sure if your local community offers a wage/benefit survey, a good place to start is your local economic development agency (EDA) or chamber of commerce. For our readers in North Alabama, you can learn about our work with local wage and benefit surveys here.

     

  • Inflation and Competitive Wages – What do these mean to You?

    Inflation and Competitive Wages – What do these mean to You?

    Are your company’s wages in line with the market? Inflation is often the topic of conversation in the news and in everyday conversation. I recently read an article about Social Security increases, the largest in more than a decade, is on the horizon; you can check the article out here: Social Security Cost-of-Living Adjustment Could be the Highest in 13 Years.

    What does that mean for individuals? It means you should know your worth, or rather, know what the going rate is for your role. I’m currently working on a wage compensation study and researched the Consumer Price Index to ensure rates were on track. It is currently 5.4%; that’s considerable. Here are a few free sources you can use to dig into wage data:

    O*Net – (enter job title, scroll down to Wage & Employment Trends, enter zip code)

    Salary.com – (look for “Individuals” What am I worth? Enter job title & location)

    What does this information mean for companies? Just this week, I’ve received more than one request for a proposal from companies wanting a compensation study. I’ve also had more than one conversation about how hard it is for companies to find employees. One way to combat that issue is to ensure you are paying at least the going rate for the positions you are seeking to fill. If you’d like to learn more about how Horizon Point can help with this, let us know! In the meantime, check out this case study from our website: Regional Wage Survey Case Study.