3 Reasons CEOs Can't Ignore Glassdoor
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Check out our webinar recap to learn the 3 reasons why CEOs can't ignore Glassdoor.
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3 Reasons CEOs Can't Ignore Glassdoor
- 1. #Glassdoor 3 Reasons Why CEOs Can’t Ignore Glassdoor
- 2. #Glassdoor Webinar Tips for Attendees • You can connect to audio using your computer’s microphone and speakers. • Or, you may select “Use Telephone” after joining the Webinar. • All lines will be muted to avoid background noise. • You can ask questions at any time by typing them into the Questions Pane.
- 3. #Glassdoor Featured Speakers Mike Walsh Senior Product Marketing Manager at Glassdoor Roberta Matuson “The Talent Maximizer®” at Matuson Consulting
- 4. Poll Results www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 5. New Game In Town www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 6. Look Familiar? www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 7. It’s Time… www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 8. True Cost of Employee Turnover www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 9. Ignorance is Bliss or is It? www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 10. www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting There Are No Secrets
- 11. Brand Management www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 12. Talent Acquisition Recruitment Talent Magnetism www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 13. Leverage Happiness www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 14. Customer Satisfaction www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 15. Can Employee Affection Be Bought? www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 16. What Top Talent Seeks • Sense of purpose • Feeling valued • Respect • Flexibility • Recognition • Opportunities to learn and grow • Fair compensation • A great boss! www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 17. Hit Your Mark! www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 18. Small Budget: Big Results You don’t have to have a Google sized wallet to create a magnetic workplace. www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 19. Your Next Move • Request Complimentary Talent Magnetism Assessment tool. • Get out of your office and into your community. • Always be on the hunt for talent. • Call for a lifeline. • First 5 people who ask will receive free 30 minute phone consultation. www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 20. Parting Thought… www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
- 21. #Glassdoor Join the conversation and let your employer perspective be heard!
- 22. #Glassdoor 3 Reasons Why CEOs Can’t Ignore Glassdoor
- 23. #Glassdoor Investors Care About Company Reputation
- 24. #Glassdoor Reason #1: Investors Care About Company Reputation THE LEADERSHIP IMPACT 0% 100% 200% 300% 400% 500% 600% 700% 800% 900% 1000% 900% 74% Well-Led Companies Poorly-Led Companies 15-20% of the variance in a company’s performance comes down to leadership
- 25. #Glassdoor Reason #1: Investors Care About Company Reputation ~ Battery Ventures, Retweeted
- 26. #Glassdoor Case Study: Cornerstone OnDemand Best Medium-Sized Company to Work For 4.6 out of 5.0 overall company rating #4 2014 Employee engagement campaign resulted in 136 reviews in 30 days 3X increase (346%) in job seeker traffic and awareness year-over-year
- 27. #Glassdoor Engaged Employees Are More Productive
- 28. #Glassdoor agree their perception of a company improves after seeing an employer respond to a review Reason #2: Engaged Employees Are More Productive 69%of Glassdoor members
- 29. #Glassdoor Case Study: Zillow Best Places to Work 4.2 out of 5.0 overall company rating #33 2015
- 30. #Glassdoor Action Plan: Respond to Reviews Respond Promptly (monthly or quarterly) Welcome All Feedback Address Specific Issues Be Considerate Promote the Positive Download our Responding to Reviews eBook to learn how to reinforce your employer brand by leveraging your reviews. PRO TIP:
- 31. #Glassdoor Knowledgeable Job Candidates Are Easier to Recruit
- 32. #Glassdoor are likely to apply to a job if an employer actively manages its employer brand. Reason #3: Knowledgeable Candidates Are Easier to Recruit 94%of job seekers
- 33. #Glassdoor Case Study: Edelman Best Places to Work 4.1 out of 5.0 overall company rating #43 2015 Employee engagement campaign resulted in 136 reviews in 30 days 3X increase (346%) in job seeker traffic and awareness YOY
- 34. #Glassdoor Case Study: Edelman Best Places to Work 4.1 out of 5.0 overall company rating #43 2015 “It was truly stunning to learn that I was the third ranked CEO of a major company in employee approval ratings, just behind the CEOs of LinkedIn and Ford. To all of the Edelman colleagues who said in the Glassdoor survey that they approved of my leadership, thank you. Your enthusiasm, dedication and desire to excel get me out of bed every day determined to do better than the day before.” ~ Richard Edelman, Edelman President and CEO
- 35. #Glassdoor Summary: 3 Reasons Why CEOs Can’t Ignore Glassdoor Investors Care About Company Reputation Know what’s being said about you and your company Engaged Employees Are More Productive Use Glassdoor to build your brand, respond to reviews and join the conversation Knowledgeable Job Candidates Are Easier to Recruit Use Glassdoor to analyze the competition, target ideal-fit job seekers and win the war for talent
- 36. #Glassdoor Action Plan: Utilize Glassdoor Unlock your Glassdoor profile and see who is visiting your profile for FREE!
- 38. Question Time Presenter’s Contact Information: Roberta Matuson Phone: 413-582-1840 Web: http://matusonconsulting.com Email: Roberta@matusonconsulting.com Talent Magnetism: How to Build a Workplace that Attracts and Keeps the Best. Order Your Copy Now! Sign up to receive a free monthly newsletter: The Talent Maximizer www.matusonconsulting.com | roberta@matusonconsulting.com | 413-582-1840 | © Matuson Consulting
Editor's Notes
- Now do I have your attention???
- The game is called musical chairs, which was very popular back in the day. I’m all for nostalgia, but not this kind as the cost of playing is simply too high.
- And this game is quite exhausing
- For CEOs and their leaders to take their head’s out of the sand.
- Money is seeping out of your organization. What if you had to write a personal check everytime an employee walked out the door? How long do you think it would take before you were bankrupt? I’d say, not so long! The cost of turnover estimates for a single position range from 30% of the yearly salary for hourly employees to 150 percent, as estimated by the Saratoga Institute. The McQuaig Institute puts this into terms that most of us can relate to. A fast food restaurant must sell 7,613 children’s combo meals at $2.50 each to recoup the cost of losing just one crewmember. To recoup the cost of losing just one sales clerk, a clothing store must sell almost 3,000 pairs of khakis at $35. Discuss the true cost of employee turnover. Offer link to complimentary Employee Turnover Calculator. How many of your products or services must you sell to make up for the loss of one employee?
- Story of Mark Triest: Asked when writing Talent Magnetism why it appears that few leaders are concerned about employee turnover. “CEOs do care and they know deep down inside that losing people who have unique skills and a great deal of knowledge costs the company a great deal of $. It’s easy to fix an operations problem. You identify what needs to be done and you have someone do it. This certainly isn’t the case when you have to resolve a personnel issue They figure if they don’t hear about the problems or see them then they don’t have to address them.”
- Right now, as I speak, your employees are sharing photos, posting reviews of you and your leadership style and letting the entire world know what it’s like to work in your organization. Here’s what they are do
- This is where management of your employment brand comes in. I’m assuming you are managing your company brand in the marketplace. Are you putting in the same effort when it comes to your employment brand?
- Recruitment Vs. Talent Magnetism- Requires a lot of heavy lifting, especially when the talent pool is tight. You do everything right and then the candidate decides to see what his or her friends are saying. Now compare this to attraction… This is where you have a line of people outside your door hoping they’ll be chosen by you. They’ve checked you out before reaching out to you. In these situations, when an offer is made, it’s usually accepted. A lot less work and much better results. It’s hard to argue with success! The “checking out part” is going on 24/7.
- I’m not one of those people who believes the only way to motivate people into action is through fear. I’m sure you’ve got many happy people working for you who would gladly tell others about what a great place your company really is to work in. They may just need a little prodding. I recommend you tap them on the shoulder and ask them if they feel comfortable posting a positive review. If they say, “no,” then this is the perfect time to find out why, so you can make changes that next time will yield different results.
- Which really should be reason number 1. When is the last time you received great service from unhappy employees? Companies that don’t have a great reputation in the market place from an employee perspective can’t be all that choosy when selecting talent.
- Sure! That is until someone else comes along and offers more.
- No conversation about employee attraction and retention would be complete without a discussion on what top talent seeks. If you could get inside the heads of candidates you would see exactly what they were looking for when selecting their employers
- Story: Archery. You don’t need a lot of arrows spreading in 10 different directions. All you need is one going in the right direction.
- Examples of low cost ways to show employees they are highly valued. Offer to send article. Tuesdays is optional tie day Tech neutrality Story: EC and Phil Collins tickets. Make your thank you personal
- What’s the point of hiring great people if you can’t keep them?
- Bottom line? The time is now too join the conversation and let your employer perspective be heard!
- Now let’s launch into the three reasons why CEO’s cannot ignore Glassdoor.
- Powerful leaders drive organizations to succeed. With strong management in place, employees thrive and, as a result, companies are more successful. Well-led companies show a 900% stock price growth over 10 years, compared to poorly-led companies that show only 74% growth. 15-20% of the variance in a company’s performance comes down to leadership. Source: Institute for Strategic Change, Harvard BusinessSchool – Odgers, Ray & Berndston
- Do you know employees are rating your organization and management on Glassdoor? Investors are taking notice? Whether they decide or not to invest may come down to how well you manage your company reputation and employer brand. In turn, company feedback in the form of anonymous reviews helps leaders spotlight trends and issues that need to be addressed, helping improve the organization.
- Cornerstone OnDemand was having trouble encouraging employees to leave reviews, increasing brand awareness and attracting qualified candidates. Cornerstone OnDemand highlighted its company culture, benefits and awards through its Glassdoor profile.. They also began engaging with their employees in a new way. By reaching out for employee feedback, Cornerstone OnDemand made our Best Places to Work list. And that works to an organization’s advantage: Companies who make that list are more profitable than those who do not.
- You wouldn't ignore customers who review and rate your products, so why would you ignore employees rating your organization? Your employees directly influence your employer brand and how it’s perceived by the wider public. It’s in your company’s best interest to engage employees and add the employer perspective to the online conversation— addressing issues raised by employees (and ex-employees).
- Zillow CEO Spencer Rascoff responds to reviews on behalf of the company. As a result, four candidates in a recent 30-day period said that reading the employer response solidified their decision to accept a job offer.
- Use Glassdoor to build your brand, respond to reviews and join the conversation. It’s important to follow up on feedback and fix any problems! Responding to reviews on Glassdoor shows you care and positively influences candidates researching your company.
- If you aren’t paying attention to your Glassdoor reviews and ratings, chances are you are falling behind the competition. Don't let top candidates abandon your profile and head to competitors. Add your perspective to reviews, update your Glassdoor profile and share updates on your culture and work environment.
- Expert in promoting and championing others, Edelman wanted to raise its own awareness with job candidates, promote its organization as a Best Place to Work and create a transparent candidate experience. Edelman was able to position itself with job candidates earlier and deliver information about the company in a more authentic way by leveraging a Glassdoor Enhanced Profile.. By joining the conversation on Glassdoor, Edelman helped spread its message, engage job seekers and stand out from competitors.
- Expert in promoting and championing others, Edelman wanted to raise its own awareness with job candidates, promote its organization as a Best Place to Work and create a transparent candidate experience. Leveraging a Glassdoor Enhanced Profile, Edelman was able to position itself with job candidates earlier and deliver information about the company in a more authentic way. By joining the conversation on Glassdoor, Edelman helped spread its message, engage job seekers and stand out from its competitors.
- This is the best way to get started managing your reputation today.