Employee Stock Awards Can Bolster Company Loyalty

Are Your Workers Invested In Your Business Growth?

When businesses allocate shares of stock to their teams, their employees are also more likely to stay committed to achieving company goals. That’s because they have skin in the game, a new study on company stock awards revealed.

Employees with stock grants are twice as likely to work harder “knowing that the value of their stock plan award may increase as their company’s stock price increases,” according to researchers from Fidelity Investments which led the study. The award lets employers share not only the benefits but also the responsibility of growing the business with their most crucial stakeholders: their own employees.

In the process, workers tend to be better financial planners: they are said to be thrice as likely to factor in the monetary value of their stock plan into their compensation and benefits package, and also twice as likely to manage their awards. They learn to exercise their options and gain deeper insights into the business of trading.

“Company stock awards can be a great way to motivate and reward employees, as long as employees understand the best way to manage their awards,” said Mark Haggerty, who leads stock plan services at Fidelity. “Employees not only need to understand how their company stock plan works, but how their company stock awards work within their own personal financial picture.”

Nearly three in five employees (59%) who take equity compensation into account “feel more confident about their ability to make good decisions” regarding their awards, compared with a third of employees who do not include equity compensation into their financial planning, researchers said.

From the vantage point of HR, awarding stocks to employees has also been shown to inspire team spirit. Employees tend to be thrice as likely to feel loyal to their employer. The stock awards make them feel a “sense of ownership” in the company, researchers said.

Organisations continue to offer company stock awards as a way to attract and retain top talent, as well as to reward top performers, Haggerty said. “Including company stock in financial planning is key to unlocking the real value of these awards – not only will employees have a greater appreciation of their company stock plan, but they will [also] understand how company stock awards can contribute to their overall financial well-being.”

Thanks to Rachel Ranosa / HCAMag / Key Media
https://www.hcamag.com/asia/specialisation/payroll/employee-stock-awards-can-bolster-company-loyalty/249130?utm_source=GA&utm_medium=20210314&utm_campaign=HRDAW-Newsletter-20210315&utm_content=B247FA2E-1754-4744-BFB2-7E9157654F96&tu=B247FA2E-1754-4744-BFB2-7E9157654F96

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How To Follow Up On Your Job Application

You’ve invested a lot of time in your job search – researching job openings, identifying companies, perfecting your resume, and sharpening your interview skills.

Now, you’re ready to take the first big step. You’ve found a perfect role just opened at your dream company. Meticulously, you complete the online application, attach your cover letter and resume and send everything off!

Now What?

You should proactively follow up while keeping in mind that dozens — even hundreds — of other resumes also are flooding the same HR department, making it difficult to personally respond to each applicant.

This doesn’t take away the value of sending a courteous and concise follow up. In fact, following up (the right way) may be just what’s needed to distinguish your application from the pack.

Consider these steps to follow up after submitting your online application.

How To Follow Up: Step #1

If A Contact Email Is Provided, make note of this along with the date you submitted your application.

• Approximately one week after submitting your application, plan a brief courteous email check-in to confirm they received it. Use this opportunity also to reinforce your enthusiasm for the role.
• If another week passes and you still have not heard back, then another short, one- to two-paragraph note is in order, indicating genuine interest in the position and inquiring about next steps.
• You may also use this second follow-up to reinforce how you envision using your skills to solve a potential challenge you suspect — or even know — the company is facing. Keep this “solution” very brief (1-3 sentences). The power of this “future impact” proposal is to trigger a connection between your value proposition and their pain points.

How To Follow Up: Step # 2
If A Contact Email Is NOT Provided during the application process, then you will need to be a bit more creative.

• Search the company site to locate contact names that are related to the particular role or division for which you applied. If you find a name but no method of reaching them, then make a note of the name.
• Next, research that person and company name online, and when you locate them, hunt for an email address. Using the email address, conduct the follow-up similarly (but not exactly the same) as mentioned above – brief, polite and enthusiastic notes indicating you have applied to a role in this person’s company.
• Communicate that upon researching further, you discovered this person may be a person of influence, and perhaps even is the one vetting resumes for the open job. As such, you wanted to reach out with a brief status inquiry while further expressing your interest. Be careful not to imply an expected response, and that your intentions are simply to express further interest in the role.
• If you have a name but cannot locate an email, then perhaps a call into the company reception desk will help. Indicate whom you are trying to reach and simply request the best way to email them. Search Facebook or other social media sites to unearth more information.
• Applying for jobs at smaller or mid-sized companies may provide a more direct route to following up as often key leadership/ownership are listed, along with contact information, directly on the site.
• Whether emailing or phoning, keep your tone upbeat and professionally passionate, indicating that you would love to explore working for this company. Be specific to prove your sentiments are credible. And always be prepared to walk away from the conversation and move on to the next potential opportunity, without leaving a trail of angst or pressure in your wake. Stay positive, which will not only serve your job search well, but will also help you move more confidently throughout the process.

Thanks to  Jacqui Barrett-Poindexter, MRW / Glassdoor / Glassdoor, Inc.
https://www.glassdoor.com/blog/follow-job-application/

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