COMPANY & TALENT REPORT
TABLE OF CONTENTS 02 | A LETTER FROM OUR CEO TALENT REPORT 04 | ATTRACTING AND RECRUITING 14 | ENGAGING AND RETAINING 28 | OFFBOARDING COMPANY REPORT 34 | ALL ABOUT ELWOOD SPECIAL REPORT: POT AND THE WORKPLACE ** | FLIP THE BOOK OVER TO READ
D EA R F R I ENDS, Elwood celebrates its 40th year in business this year, and what a long way weâ&#x20AC;&#x2122;ve come since 1980. We started with humble roots as a single-office, pre-employment testing company and have grown into one of the 10 largest industrial staffing firms in the country, in no small part thanks to strong staff, good clients and business partners, and talented associates. Every year presents big challenges and big opportunities, and we anticipate 2020 to be the same. The tight labor market and economic impact of COVID-19 remain our biggest focus areas. We continue to collect and analyze data from hundreds of thousands of job seekers and associates, and we use the information to evolve our services and partner with our clients to become the best employers in town. Weâ&#x20AC;&#x2122;ve invested in new technology and resources to eliminate friction in our recruiting and hiring processes so we can find, screen, and place workers as quickly and efficiently as possible, and we have our eyes on the future as our industry dips its toes in on-demand services. We continue to pursue our status as an industry thought leader and staffing partner that provides insights our clients can actually use. Weâ&#x20AC;&#x2122;re happy to be your partner of choice and hope you find the information in this book useful and relevant. Cheers to the next 40 years!
Mark S. Elwood, Chairman and CEO
ATTRACTING AND RECRUITING
CONNECT WITH CANDIDATES QUICKLY
Don’t let resumes pile up until the closing date on a job post (or another date in the future, like the end of the week). Work your recruiting desk in real time. We have a shared recruiting desk, which means a team of centralized representatives is notified when a candidate applies with us and a representative reaches out for a phone screen as quickly as possible. (Don’t fret, our local branch office teams still conduct in-office, face-to-face interviews—the next step in our hiring process!) By reducing our post-application outreach to under two hours, we increased in-office interview show rates by 21% early last year. And we’re racing against the clock again this year by further reducing our outreach time to mere minutes. Working a job post in real time increases the number of candidates who will complete an interview, which can reduce the time-to-fill rate—and who doesn’t want to do that?
MAKE THE BEST MATCH
Workers stay longer if they are hired into the job they applied for. Our research shows a 31% increase in time on assignment. So if a job seeker applies to an open position and he or she is qualified for that position, make the hire, even if you have a more urgent position you could place the candidate in. Of course there are scenarios in which you may want to chart a different course, such as if you can offer the candidate a better position than the one applied for or if the candidate isn’t qualified to fill the position applied for. As a general rule, it pays to make the exact match or a better match, but it rarely pays to pressure a worker into accepting a position they don’t really want.
the secret sauce:
What is it that job seekers want from an employer?
THE HIGHLY DESIRED ATTRIBUTES OF DREAM EMPLOYERS STARTING PAY
FRIENDS AND/OR FAMILY WORK THERE
TRAVEL OPPORTUNITY COMPANY PRODUCT/SERVICE DISCOUNTS STUDENT LOAN REPAYMENT OTHER
6% 3% 2% 10%
We’ve read lots of research, invested in various programs for our employees, and talked to our clients about the things they offer to theirs. And we’ve always landed in the same place: There’s really no substitute for good practices. But we took our research a step further last year and asked job seekers to identify the top three reasons they want to work for their dream employer. Over 26,000 people responded, and we walked away with renewed faith that trendy perks have fleeting appeal, but good practices— like decent pay and the ability to achieve new things—still have yet to fall from grace and are the reasons workers flock to leading employers.
CAN’T DECIDE BETWEEN TWO CANDIDATES?
MAKE THEM DECIDE FOR YOU. One of the best problems to have when you’re trying to fill an open position is to have too many good candidates, but “analysis paralysis” often leads to indecision, indigestion, and too many rounds of interviews. Don’t waste everyone’s time by scheduling additional interviews in the hopes a colleague will make a hiring decision for you; let your final candidates do it. One of the best-kept secrets in the hiring world is making a post-interview phone call to candidates and asking a couple of follow-up questions—but not about skills, career goals, accomplishments, or salary requirements. Ask candidates about something you discussed in an earlier interview. A phone call only takes a couple of minutes, and a candidate’s response will be a good indicator of how much he or she listened during the interview and how invested he or she still is in the job. Many candidates have the hard skills you need, but you want to fill your empty chairs with workers who have important soft skills, such as the ability to sit back and listen to the other people in the room. 09
EXPANDING YOUR RECRUITING RADIUS DOES NOT EXPAND YOUR POOL OF CANDIDATES
(by much) 10
JOB SEEKER WILLINGNESS TO COMMUTE Nationwide
10 minutes or less: 100% More than 10 minutes: 94% More than 20 minutes: 71% More than 30 minutes: 36% More than 40 minutes: 16%
The law of diminishing returns is a real thing, so work smarter, not harder. Here’s the truth: Most workers are not willing to endure a long commute—even if you really, really, really want them to.
In fact, after the first 10 minutes, each additional 10 minutes of commute time reduces your available applicant pool by an average of 25 percentage points. Across the nation, only 36% of applicants are willing to commute more than 30 minutes each way, a figure that fluctuates slightly market by market. So, before you start allocating your recruiting dollars to faraway places, make sure you knock on every door near you first because—as math tells us— your company’s address alone can have a huge impact on a candidate’s interest in your job. 11
44% 43% 40%
IDAHO 28% BOISE 15%
44% 45% 40% 43%
44% 44% 39%
PRESCOTT VALLEY YUMA
DURANGO FORT COLLINS
35% 30% 17%
SOUTH BEND VALPARAISO
MISSOURI 28% BELTON 19%
57% 43% 49%
45% CLOVIS FARMINGTON HOBBS ROSWELL
MEDFORD PORTLAND ROSEBURG
P E N N S Y LV A N I A
67% 35% 22% 16%
OHIO 23% BRYAN
ODESSA SAN ANTONIO
VIRGINIA 28% CHRISTIANSBURG
AMERICAN FORK BRIGHAM CITY CEDAR CITY
% OF JOB SEEKERS WILLING TO COMMUTE 30+ MINUTES EACH WAY
SALT LAKE CITY
The legend and map depict the percentage of job seekers who reside in the local areas where we have a branch office and who are willing to commute more than 30 minutes each way. The data is available upon request for more than 5,000 cities and counties across the United States. 10%
ENGAGING AND RETAINING
road map FOR ENGAGEMENT
As providers and users of temporary workers, we’re both in a unique situation when it comes to engaging employees because we each play very different roles in an employee’s work life. It’s kind of like a three-legged race: We both have to put effort in and our efforts need to be complementary. We follow a schedule of outreaches so that no associate feels forgotten or like their voice isn’t valued, and we regularly report the information— through white papers, newsletters, and sitespecific reports—so you can craft the strongest employment strategies.
· Local job market sentiment survey · Initial post-application outreach within 24 hours
· Repeat post-application contact until engagement
· Post-interview satisfaction survey
#2 FIRST 30 DAYS
· Day 1 arrival check-in · Day 2 touchpoint · Day 14 touchpoint · Day 30 pulse survey
#3 ON ASSIGNMENT
· Days 60, 90, & 180 pulse surveys · Site-specific survey · Work anniversary texts · Birthday & holiday notes · Newsletters
The best candidates are off the market quickly, so we place high priority on the pre-placement experience. · Attract workers. Our sentiment survey measures job seeker feelings about the local employment market so we know where and how to best attract workers. · Engage immediately. We contact applicants shortly after application submittal and make three or more contact attempts over the next five days. · Create positive brand experience. A post-interview survey solicits feedback on our customer service and helps us continually improve outreach and placement processes.
EARLY ASSIGNMENT: 0-30 DAYS
Our data show that more than one-third of turnover happens in the first 80 hours on assignment. · Reduce confusion. Day 1 and 2 touchpoints solve for common issues during the first hours on assignment: parking information, uniforms, clock-in challenges, etc. · Identify frustrations. Days 14 and 30 touchpoints act as invitations for open dialogue and early intervention mechanisms that help identify areas of job satisfaction.
ON ASSIGNMENT: DAY 31 AND BEYOND
A recent Gallup poll shows, on average, only 3 out of 10 U.S. workers are engaged, indicating many employers fail to put energy into their workers once they’re settled. · Engage repeatedly. We solicit feedback at scheduled intervals for the first year on assignment and use it to create improvement action plans that Elwood branches and client companies can implement together. ·R ecognize regularly. We show we care by acknowledging important personal and professional events.
· Post-conversion touchpoint · Exit interview · Newsletters
We use associate departures as an opportunity to create brand advocates and consultants. External research shows a strong employer brand leads to 50% more qualified applicants and other improved business outcomes. · Create brand advocates. Post-conversion touchpoints congratulate and thank associates, reminding them that we care about their contributions. And our newsletters keep them up-to-date and keep us top-of-mind for referrals. · Create consultants. Exit interviews provide honest feedback and data we analyze for hidden turnover trends and continuous improvement opportunities. 17
ALL ABOUT THE BENEFITS Yup. We see it, too. The trendy benefits bandwagon is making its rounds—AGAIN. And your competitors are smirking at you from the front seat (insert eye roll). We give you permission to ignore them. Take a deep breath, grab a (root) beer and a comfy chair, and join us in waiting for the wheels to fall off the wagon … and we’ll cheers to not falling for the market’s latest shiny object.
more important in the long run, flashy perks or a carefully crafted benefits package that addresses true employee needs and stands the test of time?
We get it, though. It’s easy to feel as if you’re getting left behind in a wake of free food, ping-pong tables, and bring-your-dog-to-work policies. But there’s wisdom in taking a more calculated approach—one rooted in data and insights that drive proven outcomes and value over time.
Before we look at what’s trending and showing signs of true staying power, let’s peek at what most employers are offering nationally. Each year, we survey about 1,200 employers about wages, benefits, perks, and other offerings, and our 2019 survey reveals approximately 80% of companies offer voluntary and other ancillary or nontraditional benefits, while approximately 90% of companies offer some sort of paid time off and at least one perk. At minimum, you should look to be on par with these offerings.
Yes, the labor market is tight, and yes, you need to be competitive to turn heads and keep your top talent, but we implore you to ponder this simple question: Which is
BUT FIRST, THE BASICS.
2019 EMPLOYER SURVEY RESULTS Nationwide
% THAT OFFER ANCILLARY BENEFITS:
% THAT OFFER AT LEAST ONE PERK:
% THAT OFFER TIME OFF:
Of those that offer ancillary benefits ... 0
Paid breaks for hourly employees (meals and/or other breaks)
Short-term disability insurance
Shift swap with another employee
Long-term disability insurance
Relaxed dress code (every day)
Accidental death or dismemberment insurance
Relaxed dress code (only on specific days)
Wellness (smoking cessation, gym membership, etc.)
Flexible schedule (fixed hours)
Flexible schedule (only as needed)
Dedicated nursing room
Employee assistance program
On-site or other dedicated medical facility
Of those that offer time off ...
Of those that offer perks ...
% THAT OFFER PAID TIME OFF
MEDIAN DAYS OFFERED:
% THAT OFFER UNPAID TIME OFF
Free coffee Self-pay micro market
MEDIAN DAYS OFFERED:
TIME FOR AN UPGRADE? So, you’ve analyzed your offerings (take a peek at the Benefits Pulse Check on the next page if you need help!) and all signs point to upgrade! Now what? Well, you’re in luck—we’ve done some research for you. We’ve compiled a short list of up-and-coming benefits we feel pass the trendy test: head-turners with staying power! Check it out ...
MENTAL-HEALTH BENEFITS: Mental-health benefits and initiatives
topped every survey, list, and article we studied. More and more employers recognize their roles in providing and simplifying access to mental-health resources. Research shows more than half of employees desire this kind of support from their employer, yet only 23% of employers provide it—creating a huge opportunity for you.
FINANCIAL-HEALTH BENEFITS: Now, more than ever, employees are
looking to employers for tools that offer information, training, and support for dayto-day personal finance concerns. According to the American Payroll Association, more than 74% of employees in America are living paycheck to paycheck—resulting in increased health care costs, greater absenteeism, and lower productivity and morale at work. You have an opportunity to reduce financial stress through creative offerings like money management platforms, student loan repayment programs, retirement planning services, on-site financial coaching services, emergency savings vehicles, credit counseling services, and other programs. Like teaching a man to fish, providing personal finance services can make a larger impact than continually raising wages to address employees’ financial concerns.
FLEXIBLE WORK ARRANGEMENTS: Work-life balance. This concern has been widely voiced by workers for years, and it’s not going away any time soon.
Workers desire some control over when and where they work, and many companies are stepping up with solutions like mealtime flex, compressed workweeks, telecommuting, flex time, no scheduled work hours, and unlimited vacation time. Employers who have written flexibility into their cultures say they have found this to be true: Employees work more efficiently, are more engaged, and have a greater sense of loyalty and trust.
PROFESSIONAL DEVELOPMENT: External research (as well our own
proprietary research) backs this lingering trend. In our survey, up to 82% of job seekers cited the opportunity to learn new skills as one of the top three reasons they want to work for their dream employer. And another of our proprietary employer surveys shows less than half of employers offer one or more types of career progression benefits—highlighting a clear opportunity for greater talent attraction and retention. The Society for Human Resource Management has found the prevalence of these programs to be strong (even among companies with fewer than 100 employees) and to range from leadership coaching and professional memberships to professional license fees, certification/recertification fees, and off-site development opportunities.
PAID FAMILY LEAVE: If you’re looking to make a change that will put you on
the forefront of a modern trend that’s highly valued by all workers, here’s your chance. Yes, paid leave is on the national legislative agenda, but instead of taking a wait-and-see approach, many employers are taking the opportunity to proactively offer or expand paid leave benefits (which circles right back to mental-health and work-life support!). Examples include paid family leave time for both male and female employees to include birth, adoption, surrogacy, and foster placement; emergency child care; and expanded bereavement leave. At the end of the day, if you’re making benefits decisions based on what’s BEST for the people you employ (not just checking the box next to the latest shiny object) and adapting those offerings over time, we give you a standing O. If you’re not, read again from the top down and call with questions.
BENEFITS PULSE CHECK: W H E R E D O YO U S TA N D ?
·A nalyze usage data: Determine which benefits are utilized most and by which employee profiles. ·H old an employee focus group: Different from a survey, a focus group will help you better determine employee feelings, perceptions, and opinions on your benefits. (Why do this? Just because an offering is utilized, doesn’t mean employees find it valuable or competitive. They are choosing from the options they are given.) ·S urvey your employees: Determine what current offerings employees value most and which benefits employees feel you’re missing. ·A sk your HR team: Your HR team gets all the calls and questions. They will have a strong pulse on what you’re missing or needing.
MIND THE GAP HOW TO HANDLE MANAGER-EMPLOYEE PERCEPTION GAPS
EXECUTIVE REALITY AND EMPLOYEE REALITY … DO THEY MATCH? RARELY. BUT YOU CAN FIX THAT. What happens when team members, managers, and executives have differing perceptions of a situation, policy, program, or other business-related decision? Nothing good, that’s for sure. Perception gaps, as they’re called, come in all shapes and sizes, and they’re extremely important to uncover and address because they can really put a drag on your operations. Facing perception gaps head-on—and fixing them—should improve business outcomes and the work environment.
IT ALL COMES DOWN TO COMMUNICATION. Sometimes it’s not what was said that led to a breakdown, it’s how it was said. Too often, information is shared through the lens of the decision-maker with little regard for how the news impacts the recipient. (Or sometimes information is never shared at all because the decision maker doesn’t deem it important!) But that is so wrong! There are very few communications that should ever be made with a specific emotional undertone; most communications should be approached with careful detail that communicates the “why,” “what,” and “when” to the recipient. For example, new hires and new service offerings are often viewed as exciting additions by executives and the resulting announcements are full of cheer and exclamation points, but employees are often fearful of the impact of a new leader or the increased workload that comes with learning and delivering on a new service offering. Or, conversely, the loss of a big client or departure of a staff member may not hold the same meaning across divisions, and communications that lament a loss can leave groups of employees unnecessarily confused or worried.
Take great care to review your communication plan and get opinions from a wide variety of individuals on the planned communication before making—or not making—a big announcement. Common examples of areas where perception gaps start and can fester are: · A leadership change. · A new program or service offering. · A change to bonus or compensation structure. · The loss or addition of a large client. · Corporate restructuring. · A change to benefits programs. · Changes to operating procedures or handbook policies. · Change in structure to office space/office environment/where people work. · Change in technology.
TAKE A TOUR! There’s no time like the present to attempt to uncover or fix perception gaps. One of the best ways to engage with employees is to send a representative on a “listening tour.” Set aside time—or have each manager set up time—to sit down with employees and ask for feedback on corporate communications. And don’t just ask about desired methods of communication; ask employees to identify areas in which the communications they receive (or don’t receive) differ from the type of information they need and want in order to do their job effectively. You might be surprised at what you uncover when you stop communicating and start listening.
pokémon for employers Two-thirds of employees are disengaged, and nearly two-thirds of Americans play video games regularly. So, are employees disengaged because they’d rather being playing video games? Nope, the numbers are likely just a coincidence, but the research that links games and employee engagement isn’t. Turning everyday tasks into games—called gamification—can fuel motivation and will almost certainly create a workplace culture your competitors will envy.
BUT, REALLY, MY EMPLOYEES AREN’T GAMERS. If you look past “gamer” stereotypes and poll your employees, you might be surprised by what you uncover. In the U.S., 60% of Americans play video games daily, and 70% of those gamers are age 18 or older. And it’s not just a boys’ club; 45% of U.S. gamers are women. And what’s more, many employees who don’t play video games are still motivated by the desire to best an opponent! In other words: A lot of your workers are into games.
WHAT DOES GAMIFICATION IN THE WORKPLACE LOOK LIKE? First things first, let’s clear up one common misconception: Presenting your onboarding or training material in JEOPARDY! format is not gamification. Gamification is a holistic approach to rewarding people for exhibiting desired behaviors by encouraging them to complete specific, voluntary tasks that are not part of their normal behavior patterns. In order to change a behavior, three things need to happen: · A situation or event must trigger the desired behavior. · A person must have the physical/mental capability to complete the desired behavior. · A person must be motivated to complete the desired behavior. Gamification aids in behavioral change by creating an environment that makes it rewarding to exhibit the desired behavior. A gamification program has: · A defined goal with defined rewards. · Well-established rules on how to achieve the goal and reap the rewards. · A mechanism for measuring a player’s progress or a rank in the game. · Voluntary participation. (In other words, exhibiting the desired behavior can’t be a basic condition of employment.)
HOW DOES GAMIFICATION WORK? Gamification improves motivation by creating new and exciting triggers. By using game mechanics (points, levels, missions, and leaderboards) and dynamics (achievement, collaboration, surprise, and suspense), you create a work experience that makes once-humdrum tasks fun and meaningful. For example, a good game would not reward a salesperson for making a sale (because making a sale is a condition of employment), but a good game might encourage and reward a customer service representative for responding to a product inquiry within minutes instead of hours or days because speed equates to higher sales, and higher sales is the desired outcome for the company.
GAMES NEED PRIZES, RIGHT? Not necessarily. Think back to your family Monopoly tournaments. You didn’t care about a prize. You cared about winning. You cared about snagging Boardwalk before your brother. You cared about the game. This is because gamification unlocks powerful intrinsic motivation factors (autonomy, mastery, purpose, progress, and social interaction). And though studies show extrinsic rewards (prizes) pale in comparison to intrinsic motivators, sometimes prizes are nice— especially when a gamification program is brand new and you need employees to adopt the program. Here’s one piece of advice if you choose to adopt a prize program: It’s best to stay away from financial incentives. As soon as money is thrown into the mix, the game ceases to be about fun and feels like another aspect of work. Money also creates a sense of loss of income when it is taken away or is not earned, and that is never motivating.
CREATING AND BUILDING A GAMIFICATION PROGRAM SOUNDS LIKE A LOT OF WORK … It is. A good gamification strategy will take time and a lot of careful planning to successfully implement. But industry studies show you could expect the following results: · Up to 10% increase in customer satisfaction. · An increase of 18% in sales. · An increase of 81% in collaboration. · An increase of 373% in learning engagement. It might be worth all that effort, right?
BEWARE OF THE ELECTRONIC WHIP! In 2008, Disney tried to use gamification to decrease the time it took to process a load of laundry. The game was a colossal failure. Disney placed scoreboards around the laundry facilities in its hotels and highlighted employee names in green, yellow, and red based on their speed. Additionally, each laundry machine flashed red or yellow lights if employees weren’t working fast enough. Employees called the flashing lights and color-coded monitors an “electronic whip.” Ouch! And although the laundry was completed more quickly, it happened at the expense of a breakdown in workplace congeniality and an increase of on-the-job injuries. The game was horribly demotivating because it doled out punishments to non-performing employees instead of celebrating the achievements of employees who exhibited the desired behavior. 27
ghosts DO YOU HAVE
ON Y O U R P R O D U C T I O N L I N E ?
Stop your employees from vanishing into thin air! We know it seems counterintuitive, but hear us out: You need to put time (and, sometimes, money) into policies that are focused on creating a positive offboarding experience for departing employees. It never feels good to get rejected, and it’s natural to want to pull back from an employee who Quits. But it’s important to remember that employee departures impact your remaining workforce, and a strong transition program is an investment in your company’s future, not a worthless investment in the departing employee. Departures and transitions will look different for every job and in every department, but you should craft companywide policies that encourage employees to give long lead times and discourage job abandonment, so you give your managers the best possible chances of having a smooth transition period between employees. Most gaining employers expect a new hire to work two additional weeks with their current employer, so often when employees abandon a job, it’s because they have no incentive to stay. · Use your paid time off (PTO) policy to encourage appropriate notice. In states that do not require employers to pay out remaining PTO hours, craft your policy so that providing notice of at least two weeks (or your industry’s standard) results in a full or prorated PTO payout, and so that failing to provide reasonable notice results in no payout. · Offer letters of recommendation. Offer a future letter of recommendation to employees who give appropriate notice, but only offer generic work verifications to employees who do not.
· Consider reduced workdays. Departing employees can cause distractions. They’re no longer worried about perception or performance, and they’ll be shedding tasks quickly, leaving them with free time to wander the office and spread discontent. If an abrupt loss of their skill set or institutional knowledge prevents you from letting them go immediately, consider offering a reduced workday. It will give them time to offload information and complete tasks but keeps them from dragging others down.
benefits), make it easy to access in a handbook or on your intranet. Otherwise, you run the risk of employees getting frustrated, giving up, and just walking out. The bottom line is this: Your employees are always watching, listening, and making decisions based on the environment they’re immersed in. If your company treats people poorly on their way out the door, expect your remaining workers to treat you poorly when they depart.
· Write clear resignation policies. If you have a formal resignation process (especially if following it is the only way to receive PTO payouts or other post-termination 31
MAKING THE MOST OF EXIT INTERVIEWS (by actually taking action)
Exit interviews: Love ’em or hate ’em, you need ’em. That’s our stance. We consider them a best practice and find they bring great value to our continuous improvement and retention efforts. And we already know what you’re about to say: Nothing good comes from them; people lose their cool and burn bridges; you won’t learn anything you don’t already know; upper management doesn’t place value on ex-employee feedback; and your HR department is already up to its eyeballs dealing with current employees. Blah, blah, blah. Hear us out.
feedback to correct issues and minimize future turnover; after all, your remaining employees are watching to see if you make changes. If you don’t—and the problem really is a PROBLEM— they’re bound to leave once they realize it won’t be fixed.
WHY? BECAUSE YOU DON’T KNOW WHAT YOU DON’T KNOW.
· Only interview voluntary departures (feedback from others will only skew your data).
And assuming you do know is a dangerous practice. Other employee pulse-check methods aren’t likely to capture the same level of candid feedback as an exit interview. If structured correctly, exit interviews will uncover things like valuable employee perceptions, managerial incompetence, organizational roadblocks, and competitive intelligence.
BUT YOU CAN’T SIT ON YOUR FEEDBACK. One of the biggest breakdowns following exit interviews is failing to share the data with decision makers. You must create a process that makes skirting data consolidation and dissemination virtually impossible. And equally important is establishing a culture that prioritizes using the
And here’s what that process looks like ... · Make exit interviews a required piece of your offboarding process and communicate the “why” to your management teams.
· Never have the direct manager conduct the interview. Ideally, have the next highest manager conduct the interview as he or she is most connected to the department and its work and goals. (If you want honest feedback, the interviewer must be perceived as objective.) · Wait a few days after receiving a resignation notice to request and conduct the exit interview. At that point, emotions won’t be as high but you still have the employee’s captive attention while they’re on your payroll. (Participation rates will drop dramatically after an employee’s last day at work.) · Have a standard set of carefully crafted questions that uncover the “why” behind the employee’s feelings to ensure you gather relevant, useful, and easily consolidated feedback.
· Interview methods can vary, but face-to-face is ideal as you can observe body language and other non-verbal cues. Phone interviews or surveys/questionnaires, or a combination of the two, are strong alternatives. · Minimize emotions and keep things calm by sticking to facts and asking for specific examples when the dialogue strays to stories or emotions. While exit interviews are great—and we sing their praises—they should not be your only source of employee feedback. Ensure you have a well-rounded feedback system that captures data throughout the entire employment life cycle, so you capture information that can save true talent before both feet are already out the door.
WHAT SHOULD YOU ASK? WE GOT YOU. We’re aiming for quality, not quantity here. Just a few questions will do the trick. If you’re looking for a starting point, here are some of our standard questions (and remember to probe, if possible!): 1. What made you decide to look for another job? 2. What did you like best about your position? 3. What did you like least about your position? 4. How would you describe the relationship with your manager? 5. Would you recommend our company to a friend or colleague? Why or why not?
ALL ABOUT ELWOOD
10 THINGS THAT MADE OUR 2019
1. O ur first-ever, college basketball bracket challenge. In an effort to engage our clients, associates, and internal employees in one big, healthy competition, we partnered with an online bracket provider, opened the competition to current employees and clients (over 30,000 people!), and offered $50,000 to the person who created a perfect bracket. Though no one created a perfect bracket, we had five topscorers who each walked away with a nice cash prize. 2. I ndustry recognition. CEO Mark Elwood was recognized for the fifth time as one of North America’s most notable staffing influencers by leading industry organization, Staffing Industry Analysts.
3. Another successful summit. We loved seeing new and familiar faces at our annual workforce intelligence summit in Indianapolis. This event brought together subject matter experts from academia, the American Staffing Association, a leading Fortune 500 company, and Elwood to discuss diversity, legislation, and all stages of the employment life cycle.
4. S aving the ta-tas. With over 75% of our internal workforce composed of women, tens of thousands of women working at our client companies, and our national reach, we chose to spend the month of October spreading awareness about breast cancer and early detection through email, social media, and in-office campaigns. (And, no—we didn’t forget that breast cancer affects men, too! About 1% of breast cancer cases in the U.S. occur in men, and many more will find themselves beside an ill woman in their lives.)
5. G iving to local charities. Across the nation, our teams collected and donated tens of thousands of dollars and time to local programs, like March of Dimes, the United Way, food pantries, job readiness programs, community events, and more. 6. R ecognizing our veteran employees. Once again, we brought back a project highlighting our corporate employees who are also veterans, and we installed a wall of photographs in our corporate office showcasing their dedicated service. 7. L aunching a new job readiness program for associates. This specialized e-learning program provides associates with the opportunity to learn about, self-assess, and seek additional help in areas such as the importance of good attendance, performing high-quality work, taking initiative, seeking feedback, and leading by example.
8. I mplementing a new applicant tracking system. After months of design and testing, we started rolling out a new applicant tracking system which brings many front- and back-office efficiencies. 9. R enewing our Safety Standard of ExcellenceSM designation. The voluntary program, developed by the American Staffing Association and National Safety Council, promotes staffing industry-wide safety standards through a uniform national program.
10. R ewarding student workers with tuition assistance. Five college student associates who worked for us over the summer earned tuition assistance for their upcoming fall semester. 37
Our history of strong performance across a wide range of economic scenarios reflects our commitment to prudent financial management. As a privately owned business, we manage finances with an emphasis on long-term sustainability and growth. Our approach places less emphasis on short-term results and more focus on disciplined decision-making and conservative balance sheet management. Customers can have peace of mind knowing they have a partner with the liquidity and resources necessary to provide the innovative and competitive services they need in a rapidly changing business environment. Our proven track record of both positive results and stability allows us to invest in customer expansion and make sound acquisitions that complement our current offerings.
Revenue for 2019 was $939 million, which represents a 1% decline from the prior year. While we outperformed our peers in a tight staffing market, weakening demand in the energy sector created a headwind for much of the year. Excluding the energy sector, organic revenue growth was up slightly versus the prior year. We continued to expand our client base and associate pool throughout 2019, employing over 150,000 associates, which is a 6% increase over the prior year and is indicative of the tight labor market. The majority of our placements continue to be in the manufacturing industry, with logistics representing a growing source of demand. An acquisition in late 2018 expanded our footprint in the Southeast, making it our second-largest market in 2019. We continue to operate nearly 200 brick-and-mortar locations across 30 states to serve our customers and associates while simultaneously expanding our virtual recruiting capability.
Revenue $ in Millions $964
Revenue by Geography
Revenue by Industry
Food & Pharmaceutical 11%
While low unemployment increases demand for our services, it also results in a more labor-intensive recruitment process. Investments in additional recruiters, marketing initiatives, and technology increased operating costs from 10.1% of revenue in 2018 to 10.6% in 2019. We anticipate recruiting costs to remain high in 2020, but we are actively making enhancements to our operating model to increase efficiency and timely order fulfillment.
ASSETS AND LIQUIDITY
We continue to maintain a strong asset base to fund working capital and investments in infrastructure. Total assets as of December 2019 were $157 million, and our ability to meet near-term obligations as measured by current ratio improved from 3.6 to 3.9. Technology continues to be a large category of infrastructure investment, with much of 2019 devoted to the initial implementation of an upgrade to our operating software platform.
We are committed to operating in full compliance with all laws. To ensure we are complying with financial requirements, we engage the services of independent experts. Our financial statements are audited annually by Blue & Co., LLC. Income tax returns are prepared by Grant Thornton LLP.
Operating Costs % of Revenue
Operating Costs by Category
Recruiting & Selling 12.3%
Total Assets $ in Millions
WE WORK WHERE YOU WORK ALABAMA Albertville · Birmingham · Clanton · Decatur · Florence · Fort Payne · Gadsden · Huntsville · Mobile · Montgomery · Opelika · Oxford · Talladega · Tuscaloosa ARIZONA Glendale · Kingman · Mesa · Prescott Valley · Yuma CALIFORNIA Bakersfield · Los Angeles2 · Newport Beach5 · San Diego3 · Torrance COLORADO Arvada · Aurora · Brighton · Colorado Springs · Denver2 · Durango · Fort Collins · Grand Junction · Greeley · Longmont · Loveland6 · Montrose · Pueblo FLORIDA Orlando6 · Sarasota · Tampa GEORGIA Carrollton · Douglasville · Newnan · Norcross · Rome IDAHO Boise · Idaho Falls · Nampa · Pocatello · Twin Falls INDIANA A nderson · Angola · Clarksville · Columbus1 · Fort Wayne · Franklin · Goshen · Greenfield · Greensburg · Indianapolis2 · La Porte · Lafayette · Lebanon · Plainfield · Plymouth · Richmond · Seymour Shelbyville · South Bend · Valparaiso · Warsaw KANSAS Olathe KENTUCKY Bowling Green · Elizabethtown · Florence · Hopkinsville · Louisville · Shepherdsville LOUISIANA Lafayette · Bossier City MICHIGAN Coldwater · Grand Rapids1 · Hillsdale · Holland · Lansing · St. Joseph · Sterling Heights · Sturgis MISSISSIPPI Brandon · Hattiesburg MISSOURI Belton · Kansas City NEVADA Reno · Winnemucca NEW MEXICO Clovis · Farmington · Hobbs · Roswell NEW YORK Jamestown4 NORTH CAROLINA Charlotte NORTH DAKOTA Minot ·Williston OHIO Bryan · Marysville · Springdale · Troy OKLAHOMA Oklahoma City OREGON Albany · Eugene · Klamath Falls · Medford · Portland · Roseburg PENNSYLVANIA Allentown · Breinigsville · Camp Hill · Carlisle · Chambersburg · Hanover · Harrisburg · Hazleton · Lancaster · Lebanon · Mountain Top4 · Pottstown · Reading4 · York SOUTH CAROLINA Greenville · Seneca TENNESSEE Bristol · Chattanooga · Gallatin · Greeneville · Knoxville · Lebanon · Morristown · Murfreesboro TEXAS Abilene · Amarillo · Arlington · Bryan · Cleburne · El Paso · Graham · Houston · Lewisville · Longview · Lubbock · Midland · Odessa · San Antonio UTAH A merican Fork · Brigham City · Cedar City · Delta · Draper · Layton · Logan · Moab · Murray6 · Ogden1 · Orem · Price · Richfield · Salt Lake City · Spanish Fork · St. George · Vernal · West Valley VIRGINIA Christiansburg · Lynchburg · Salem WASHINGTON Everett · Kennewick · Kent · Prosser · Yakima WYOMING Cheyenne · Rock Springs All sites offer Elwood Staffing services, unless noted otherwise. 1 2 Includes Elwood Professional services Includes Elwood Tradesmen services 4 5 On-site location only Elwood Professional services only
Includes Elwood Professional & Tradesmen services Elwood Tradesmen services only
D I F F ER 44
D E S I G N
Our headquarters is in Columbus, Indiana, a small-ish town in southcentral Indiana that is world-renowned for its abundance of modernist architecture. Elwood strives to uphold the cityâ&#x20AC;&#x2122;s emphasis on being different by design in all we doâ&#x20AC;&#x201D; at work and at play.
Different â&#x20AC;Ś at work. After a multiyear design and buildout process, our corporate staff is now comfortably settled in the second building on our campus, a structure carefully designed to enhance the communityâ&#x20AC;&#x2122;s visual appeal and support the varying needs of our staff members throughout the day. Thoughtful interior design blends timeless function with modern appeal and has carved out new spaces for informal group collaboration, quiet contemplation, mothering needs, and more. 46
Different â&#x20AC;Ś at play. Every two years, Columbus plays host to tens of thousands of architecture lovers who visit over a three-month period to view contemporary installations placed around town by top-tier design firms. Elwood sponsored five civic street projects in the downtown area, including the one pictured below: a reconfigurable urban plaza designed by LA-MĂĄs, which was placed in a public green space and provided respite to walking tourists and downtown workers. A few of our installations will remain in Columbus permanently.
ELWOODTHINKS.COM This is where we post all the other good stuff we produce: research, guidebooks, quarterly reports, and more. 48
with your smartphone camera
Connect with us on LinkedIn and enjoy the weekly content we publish. 49
CORPORATE HEADQUARTERS 4111 Central Avenue Columbus, IN 47203 812.372.6200 www.elwoodstaffing.com