Oscar Puig’s Post

Potentially quite a monumental change for US-based staffing/recruitment brands. As always, the best companies will rely on having a great brand, being a great place to work and internal development opportunities to keep their best staff. Can’t wait to see some dynamic new startups spin off soon due to these changes! #recruitment #staffing #staffingindustry

I have long appreciated Richard Branson's approach to attracting and retaining talent: "Train people well enough so they can leave, treat them well enough so they don't want to." That mission never leads to perfect results or perfect retention. But I've found that it makes for a much happier workplace, which makes me happier, in turn. Every day, I know that my team (also my work-family) is there because they WANT to be, and not because of legal coercion. On the other end of the spectrum, there are non-compete agreements that seek to tether employees to a position. The alternative to remaining in that job would be a post-departure, contractual ostracism, as an employee attempts to survive a regional "blackout" that could last for several years. These employment blackouts seek to prevent a member of the workforce from performing the same work while in the same regional market, until the employees skills become more dated. Imagine if you had family in that area of the country, and a substantial move was impractical. If you can't leave the region, then it becomes nearly impossible to leave a position protected by a non-compete agreement while continuing to work in the same industry. BUT NOW - the FTC seems to be addressing this issue, and the chilling effect of non-compete agreements seems to be thawing a bit. See the link below. Thoughts? Comment below!

 “A fuzzy but helpful principle we had was: We never wanted to be embarrassed if all of this leaked,” I explained to Fast Company for their feature on Ethena's approach to pay transparency. I love the gut check of asking, "Would I be mortified to see this in print?" This was one of many reasons why Ethena embraced pay transparency far before the regulations required us to. People leader Melanie Naranjo's leadership was absolutely crucial in helping guide our thinking, as was my experience with pay transparency in the U.S. Army. Check out this article to see how we approached pay transparency, the challenges we had, and yes, you can even see Matthew Dean's great blog post that explains exactly how much engineers at Ethena make! And thankfully, no, I'm not embarrassed to see this "leak!" 😅 #paytransparency #payequity #startup #culture #transparency

"The company has also adopted a new business strategy geared at increasing productivity and guaranteeing longevity in the market despite the current tough economic times.' The employee who will survive these tough times is not the average employee. It will not even be the connected one. It will be the one who can help solve the organization's problems and more so, he who has the ability to deliver output better than the others. The operative word at the workplace shall be EFFICIENCY. When operational costs skyrocket, the easy way out is either to cut costs or increase the top line to cover overheads sufficiently as to cushion the shareholder value. Be wise. Make yourself relevant! ! https://lnkd.in/dEWnZc2w

There are other ways to attract talent outside of compensation. Check out this article for some tips on various ways to help better position your organization to attract talent.

"So, a 100-person organization that provides an average salary of $50,000 could have turnover and replacement costs of approximately $660,000 to $2.6 million per year." Ready to invest in #EmployerBranding Yet? Your People Team has already known this financial impact to the business for ages. Start listening to them. #EmployeeExperience #EmployeeCulture #WorkCulture #CompanyCulture

Some change is inevitable. However, if you’re not doing enough of the right things, the number hits the high side. And, ultimately, it hits the bottom line. If you’re not talking about how to change, you’re not doing what you could. #ChangeManagement

Boring: Turnover in your business is expensive. Captivating: “This Fixable Problem Costs U.S. Businesses $1 Trillion” Replacing a single employee can cost 1.5-2 times their salary… This leaves the average 10 employee company spending over $60,000 per year to maintain their employee base. Helpside supports small businesses in attracting and retaining talent so that they mitigate this costly challenge. Let’s chat to see how Helpside can benefit your business through Payroll, HR, and Employee Benefits. https://lnkd.in/gWmjpVDN.

Dream of Fields Throughout my career, I've had the privilege of working for great companies like APL, FedEx, and UPS, where I've observed the interplay between the asset and non-asset divisions. These two models often exist in parallel, but they operate in fundamentally different ways, which can sometimes lead to organizational tension between these divisions. Asset Model: The "Field of Dreams" In the world of asset-based businesses, it's akin to a "Field of Dreams" scenario: "build it, and they will come." Companies with substantial assets operate on a relatively fixed network. They excel by optimizing these networks with relentless efficiency and finding the right client mix. One of the primary measures of success in this model is the return on invested capital, reflecting the capital required to establish and maintain these networks. In this model, customers largely adapt to the provider's network. For instance, if an ocean carrier sets up a network with vessels sailing from Hong Kong on Saturdays, arriving in LA 13 days later on Mondays, their customers adjust their schedules to leverage this service offering. This is what I call the "field of dreams" model, where providers create networks with an asset foundation, and customers align with it. Non-Asset Model: A Different Perspective On the flip side, we have what I refer to as the 'Dream of Fields' model. In this approach, companies without assets leverage the networks of others while combining their expertise and technology to offer bespoke or on-demand solutions to clients. One of the the primary financial measures is "net revenue," representing the difference between the cost of procuring services and the revenue generated from selling them. While both models are great, each has unique objectives, and tensions can occur when financial and strategic decisions are being made at the top. In my experience, the asset divisions of these companies often take the lead on these macro decisions due to their significant investment, revenue, and profit generation. Current Scenario: UPS as a Case Study We can see this dynamic in action today at UPS. The asset divisions at UPS are encountering challenges due to a new labor contract and reduced volume. In response, they are considering a reduction in management headcount. On the non asset side, UPS's CEO has singled out Coyote Logistics, a business she characterized as "highly cyclical with considerable earnings volatility," hinting that it may be put up for sale. It will be interesting to see how this balance continues to shift as technology enabled agility, on demand models, and competition continue to shape these models. #fieldofdreams #supplychain #asset #nonasset #technology