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Tag: employer insights

The Role of Employee Advocacy in Employer Branding: How to Harness the Power of Your Team
Imagine you started a new venture that becomes popular within a few months of launch. Everyone begins showing interest in your products, and you even start receiving orders. Over time, you receive a number of orders that you cannot handle alone. Therefore, you seek resources to help fulfill orders and further your business.

At this point, your market is getting bigger, and you must ensure customer delight. So what, according to you, is the factor you cannot afford to ignore now? Is it your customers or the employees?

Undoubtedly, having a large customer base allows you to learn from experiences, even if you lose a customer or two due to unfortunate reasons. However, what would it be like to have unhappy employees? It will tarnish your brand reputation if things go unchecked. Moreover, your revenue-generating capacity would suffer.

Your employees are more important than your customers, and you cannot thrive without them.

A recent IDC survey says 85% of business owners agreed that a positive employee experience and increased employee engagement build better customer experiences and generate more revenue.

Keeping the statistics in mind, let us move ahead to learn the role of employee advocacy in employee branding.

Employee Advocacy: Why Does it Matter to Build Employer Brand?
1. Increases brand awareness
Social media content shared by an organisation’s employees attracts more engagement than the content shared by the company. Admittedly, employee advocacy brings high-quality results for organisations by powering their market presence and bettering brand reputation among people.
1. Influences customer relationships
Every employee of your organisation enjoys influence over some or all customer relationships. An unhappy employee can spread negativity and impact the team’s ability to serve customers well. Even worse, an unhappy workforce can throw you out of the market before you realise it.
1. Generates high-quality leads
Market trends reveal leads that result from employee advocacy convert more frequently than other leads. In fact, today’s customers prefer seeing the faces behind an organisation before making a buying decision. This is because modern buyers believe in what they hear from people and what they see in advertisements.
1. Builds powerful talent pools
The talent recruitment concept has changed in the last decade and is no more restricted to finding candidates through advertisements. Visibly, employer branding has taken over the recruitment sector. Moreover, job seekers prefer joining organisations having happy employees. When employees share their stories and experiences, potential employees tend to get attracted toward positive content and decide their course of action.
1. Reduces cost per hire
Employers believe employee advocacy is the most cost-efficient way to make new hires. This is because an organisation that believes in and follows the concept witnesses reduced hiring costs. The reason is they can reach a broader base of potential candidates and make the right candidate choice among the ones who believe in the organisation’s culture, mission & vision.

How To Make Employees Your Brand Advocates?

In cognizance of the impact of building an employer brand, organisations have been managing their brands for a long time. Establishing a reputation is an overwhelming task, but employee advocacy can accelerate its success. Read on to learn what steps you can take to harness the power of your team and turn each member into a brand advocate.
1. Set clear goals
Before you publicise your employee advocacy program, make sure to have set the objectives you want to achieve. The step will give you clarity to the employees on what needs to be achieved.

Be specific while setting goals and remove any ambiguity surrounding them. Simply put, there must be clarity of goals among your team.
1. Have a clear and consistent brand message
Your brand’s message must be consistent, and you can achieve it by creating a guide for employees to follow. The guide must entail instructions your employees must observe while they post, promote, and interact on social media.
1. Improve internal communication
If you want to reach the pinnacle of success, check for internal communications and the loopholes. In plain words, communication within the organisation must be clear, manage information overload and motivate & drive employee engagement.

MUST READ: The Connection Between Employee Recognition and Retention
1. Be flexible
Identify your employees’ unique personalities and allow reasonable flexibility. To begin with, your guide must talk about flexibility so that your employees can create content reflecting their personalities. This will also boost the human touch and better connect the audience and the brand.
1. Establish metrics
Choose the metrics wisely against which you will measure the success of employee advocacy. You can also measure the performance of employees who contribute to the program.

Summing Up

Every good thing that you hope to accomplish in your company will be possible with employee advocacy. On the other hand, if your employees aren’t happy with the company culture or job roles, it will crimp your ability to survive in the market. So, focus on your people first to map your success journey.

You must hire the right to have a great workforce that deserves to be made your organisation’s integral part. We are here for you to help you find top talent.
May 29, 2024
Measuring the Success of Your Employer Brand: Metrics and KPIs to Track
“You can’t improve what you don’t measure.” Often attributed to Peter Drucker, this quote has elicited plenty of admiration and plenty of ire.

Thus, the same applies to every effort put into building an employer brand. Missing to measure the employer brand’s success means directing your brand toward a road that takes you out of the competitive landscape.

A strong employer brand can help you attract and retain top talent, improve employee engagement, and boost your bottom line. But how do you know if your employer brand is successful?

Just as Rome wasn’t built in a day, neither is your employer brand, indicating the time required to produce a favourable output. And by tracking the right metrics and KPIs, you can get a clear picture of how your employer brand is performing and make necessary adjustments to improve it. To ensure the success of employer branding, understand what are the key metrics you should be tracking down to measure the effectiveness of your employer brand.

The Must-track Employer Branding Metrics
1. Employee referral rate
Current employees usually recommend you to their circle only when they are happy working at your organisation. When employees refer people within their network, they trust your brand and add resources to the pool of qualified candidates.

Analyse the employee referral data and check whether your existing workforce is willing to advocate for you.

High employee referral rate = High employer branding success rate
1. Cost-per-hire
The cost to make a new hire consists of recruitment fees, pre-employment assessments, advertisements & promotions, and more. Organisations enjoying strong employer brands incur low cost-per-hire, and even the cost comes down to almost half in some cases. This is the power of the brand.

A company that has earned a reputation over time will attract more candidates, who turn out to be better fitted. If your organisation has more quality candidates applying for jobs, you can spend less time and money sourcing ideal candidates.

The lower the cost-per-hire, the more the chances for the employer brand to grow.
1. Quality of candidates
The metric is considered the most powerful yet difficult to measure, encompassing several other metrics. Undoubtedly, a strong employer brand attracts high-quality candidates because present-day job seekers also prefer working with established brands.

Simply put, determine the quality of candidate profiles and check how experienced and competent they are to match the vacant positions.

Is the quality of applications below average? Well! It means you need to work on employer branding.
1. Employee engagement rate
Employee engagement rate is another robust metric to measure how well your employer brand is performing. To name a few, learning and professional development opportunities are the ones that boost the employee engagement level.

To measure the level of engagement, you can conduct employee surveys and ensure the questions cover all aspects like leadership, learning, peer relationships, and more.

Scan the employees’ responses and conclude whether your efforts are reaping benefits.

Learn about the Importance of Continuous Learning and Professional Development
1. Social media engagement
Tracking social media engagement requires you first to set social media goals. For example, if you want brand recognition, track the number of followers, impressions, and reach. If you want to boost interaction with potential candidates, check likes, comments, and shares on the posts.

Results do not reflect overnight. Therefore, look at the performance over a period of time and observe the trend. If employee engagement on your social media handles is also high, there are chances of generating more tremendous employer branding success.

The more people engage with your employer brand, the more they can relate to it.
1. Employer brand index
Employer brand index involves checking what employees say about your company online. The platforms to check their online reviews are employer review sites, social media platforms, and online forums.

Based on the opinions shared by employees online, EBI focuses on specific parts of the employer value proposition having the most positive and negative impact.

The metric also indicates the overall health and performance of your employer brand.

How to interpret your results and make improvements?

Once you have collected data on the metrics and KPIs you are tracking, you need to interpret your results and make improvements. Here are a few tips for interpreting your results:
- Compare your results to previous periods: This will help you see how your employer brand is performing over time.
- Compare your results to other companies: This will help you see how your employer brand is performing relative to the competition.
- Set benchmarks: Set targets for each metric and KPI. This will help you track your progress and make improvements.
- Analyze your results: Look for trends and patterns in your results. This will help you identify areas where your employer brand is weak and make improvements.
- Make changes: Based on your analysis, make changes to your employer branding initiatives.
By measuring the success of your employer brand, you can ensure that your efforts are effective in attracting and retaining top talent.

Summary

The trickiest part about measuring employer branding success is that there is no industry standard to follow. Moreover, each organisation is creating and using different metrics without the intent to create a benchmark. Nevertheless, it is important to identify and use the most useful, easy-to-read KPIs to facilitate quicker identification of optimisation for making improvements.

Consistently measuring your employer brand over time will help you see how your efforts are working, and you can identify areas where your employer brand is weak and make improvements.

The world is already battling against a talent shortage, and it’s high time for organisations to level up their employer value proposition. Thus, by measuring the success of your employer brand, you can ensure that your efforts are effective in attracting and retaining top talent.

Read more about The Talent Shortage Crisis

Why choose CGP Singapore to attract top talent?

Sourcing suitable candidates is arduous and becomes even more challenging when your business is niche-specific. Cornerstone Global Partners can help you find candidates for hard-to-fill roles in these situations. We are one of Asia’s most prominent recruitment solutions providers, with 19 offices worldwide and over 500 team members delivering exceptional
- Executive Search
- Contracting, Recruitment Process Outsourcing (RPO)
- Human Resources Outsourcing services
Reach out to us with your recruitment needs.
April 3, 2024
Why Employer Branding Matters: The Benefits of Investing in Your Company’s Reputation
In the past few years, employer branding has become more than street talk. Instead, it has become essential for employers to brand themselves proactively and attract top talent.

Employer branding is how an organisation is perceived by its current & potential employees. Over time, the way companies recruit and retain employees has changed. Visibly, employers have begun understanding what their organisation can truly offer to job seekers and are turning it into a value proposition.

While there are plenty of employer branding strategies, you must first learn the benefits of employer branding before strategising.

Do you know?

According to Glassdoor, 50% of candidates said they wouldn’t work for a company with a bad reputation even if offered a pay increase.

According to AIHR, an employer with a strong employer brand can experience the following:
- 50% reduction in cost per hire
- 50% more qualified applicants
According to LinkedIn,
- 55% of recruiting leaders have a proactive employer brand strategy
- 59% of recruiting leaders worldwide are investing more in employer brand
The numbers above are enough to justify the importance of employer branding. Let us focus on the advantages of building and maintaining your company’s reputation.

Building your Company’s Reputation: What Difference Can it Make?

By now, you probably have a good idea of the importance of having an employer brand for effective talent acquisition. The following section summarises the ‘why’ of building your company’s reputation.
1. Reduces the employee turnover rate
With great candidates comes greater expectations. They are smart and know their expectations from the organisation. But unfortunately, when employees do not receive what they expect, they prefer to exit the company. As a consequence, even the happiest of employees get demoralised. However, the good news is you can enhance employee engagement and retain your people with an impregnable employer brand.
1. Attracts the best talent
Apart from retaining existing employees, a well-built employer brand places you in a dominant position where you can attract top talent. Nowadays, job seekers apply for a job only if they feel the employer brand is strong enough. Understand it this way: Your organisation’s mission, values, and culture are clearly depicted through the employer brand and outshine others. Therefore, job candidates would automatically get attracted to your brand.
1. Motivates employees
Employees who are happy with their work environment stay more motivated and engaged. And when your people are happy, it generates high productivity levels and makes your employees stay for longer. Besides, they begin relating to the company’s goals & mission. So, in the long run, the existing employees become your brand’s ambassadors, whose voices and figures you can use for employer branding.
1. Improves growth rate
Every organisation worldwide depends on its workforce to achieve its aims. That’s where employer branding steps in. Talent acquisition becomes easier for companies having a strong employer brand. If you stay true to maintaining your company’s reputation, you will receive more job applications than ever. Moreover, candidates would happily accept your job offers, which will pave the success path for your organisation.
1. Demonstrates your unique culture
While employer branding ain’t a subject you can learn overnight, it takes consistent efforts and involvement of the organisation’s key members. To truly gauge its success rate, you must ensure your work culture is voiced. Look for ways to make your work culture more employee-friendly because candidates love working with companies that value their members. Besides, highlight the diversity within your workforce to crack the success deal over time.
1. Conveys your brand value
Preferences of modern job seekers are changing, and they no more accept a job offer just based on the finances offered. In fact, they look for a company’s reputation and the brand built around its mission, vision, and aims. Therefore, you must muster all your resources and efforts to convey the right message to the audience. Unarguable, the market belongs to top talent that isn’t ready to work for organisations with bad reputations.

Final Words

Employer branding encompasses much more than merely attracting job seekers for recruitment purposes. Your organisation’s success journey can be either exciting or terrifying. The latter scenario usually occurs when you don’t prioritise employer branding. However, the HR space around you has adapted to the changing environment, which is making employer branding important. This year is the perfect time to showcase what your organisation is and how it is better than others.

Needless to say, it doesn’t hurt to develop an employer brand to sustain in a bear market where nothing assures continued employee engagement & retention.

Contact us to source and place the most competent candidates within your organisation. We are experienced in delivering Executive Search, Contracting, Recruitment Process Outsourcing (RPO), and Human Resources Outsourcing services to multi-national and domestic firms.

We have provided companies with over 5000 successful mid-to-high-end talent worldwide in recent years. The sectors we serve are:
1. Accounting & Finance
2. Energy
3. Financial Services
4. Government & Public Healthcare
5. Human Resources
6. Legal
7. Sales, Marketing & Digital
8. Supply Chain & Procurement
9. Technology
10. Executive Search
March 13, 2024
How To Build Positive Employer Branding Through Social Media?
For as long as the competitive corporate world has existed, employer branding will play a vital role in dictating business success. Fundamentally, employer branding is a company’s identity that reflects a well-crafted vision, mission, character, and personality to attract new candidates and retain the existing ones.

What is Employer Branding?

Your employer brand is how others perceive your company, including your employees. Whether you realise it or not, every competent leader has the potential to build an employer brand that can leave an indelible mark on the audience’s mind.

“A strong employer brand can give a company a significant advantage in the war for talent. It can help the company attract top candidates, improve employee engagement, and reduce turnover.”

In the truest sense, employer branding is a company’s message to the world about who they are and what makes them unique.

Building a Positive Employer Branding

A company’s reputation matters more than ever for job seekers, as most of them would not apply for or continue to work for an employer with a bad reputation. In other words, modern-day job hunters prioritise their career development over other factors and, thus, prefer working with high-ranking and respectable employer brands.

While you spend plenty of time creating a compelling brand story around your products & services, how do you intend to build an employer brand?

Let us lay a road map for you to make a successful employer brand with social media.

From Like to Hires: Role of Social Media

The most important aspect to understand here is that social media isn’t just about posting job openings and hoping for the best. To be effective, every company needs to develop a strategic social media strategy that aligns with their branding and helps them attract the right talent.

#1 Attract relevant & competent candidates

On average, a job opening receives around 250 applications. Out of the received ones, the recruitment team interviews 6-7 candidates and hires the best among them. However, there are chances you may receive applications that do not match your job opening. As a consequence, you may end up losing time going through the not-so-fit resumes.

Using social media, you can promote your employer brand your way with word-specific targeting. Moreover, you can send out messages through social media networks regarding the qualities you seek in candidates before hiring. Only then can you simplify your employer branding and hiring process.

MUST READ: How Can Employers Access a Wider Pool of Talent

#2 Approach candidates where they are

Be it coffee breaks or after-office time, job seekers spend their time scrolling through social media for career development. And this is the opportunity that you must grab to reach out to them. With social media presence, there is a likelihood that job hunters follow your employer brand and stay updated with the latest job openings.

Furthermore, candidates can directly apply for the job role directly if they get attracted toward the employer brand – a combination of your company’s vision, mission & goals.

#3 Engage current employees

Running a business successfully isn’t all about attracting new talent but also involves retaining the existing ones. So show your current team off to the outside world and the organisation internally. Who knows how your existing employees can source candidates and fill job vacancies?

For instance, to promote a positive employer brand, you can put up content such as team outings, career development activities, annual award nights, and more.

Let’s get started…

Portray your company as a favourable employer using the tips mentioned below.
- Establish a tone – Choose a style of your employer brand voice and stay consistent with it. Also, ensure to post regularly and at the right time. Finally, do not forget to keep your tone friendly and one that can set you apart from the competitors.
- Choose your content smartly – While you may be flooded with content ideas for posting, choosing the right content is upon your wisdom. Furthermore, ensure the pictures and videos you share are consistent with your brand colours.
- Always be responsive – Your employer branding story must not end with the development of the brand. Instead, it must mark the onward journey of being responsive to your audience and engaging them in various ways.
- Choose social media networks wisely – Bear in mind that each social media network has different success metrics, and you must choose suitable platforms wisely. More importantly, it is not necessary to utilise all the platforms for employer branding, which means you can select the desired combination.
Wrapping Up

Today’s candidates are digitally savvy, and the only way to reach out to them is through the creation of a strong employer brand. There is no shortage of reasons to promote your employer brand through social media.

But one question you must answer: How to make continuous & the best use of social media for positive employer branding? Here’s what you can begin with:
- Start sharing positive employee testimonials and the company’s success stories.
- Highlight your company culture and values.
- Engage with potential clients on social media
If you can follow the insights we shared in this blog, you will surely step up your social media game to strengthen your employer brand.

RELATED READ:
FAQs

1. How can social media improve employer branding?

You need to build a strong employer brand if you wish to attract top talent. Modern organisations make use of social media to develop and improve employer branding. Using social media, employers can communicate who they are and what makes them different from others. In today’s time, job seekers search about organisations before applying for a role, and an organisation with a strong employer brand stands a better chance to hire top talent.

2. Why is social media good for employers?

Social media has become a part of everyone’s life. Employers can also use social media to stay visible to job seekers and present themselves as reputable and trustworthy. Additionally, they can let job seekers know what makes them better than other employers. The recruitment team can attract more job applications and hire competent candidates.
December 4, 2023
Beyond Recruitment: The Additional Value A Recruitment Agency Can Bring To Your Business
The question is crystal clear: What benefits can a recruitment agency bring to your business?

In the quest to assemble the perfect team, employers often turn to recruitment agencies to aid in their talent search. While it is often perceived that for recruitment agencies it is just about ‘filling a position’, however, the values of recruitment agencies extend far beyond merely identifying suitable candidates.

From market expertise and time-saving efficiencies to a vast talent pool, thorough screening processes, and strategic insights, there are several additional benefits that a reputable recruitment agency can bring to your business. They play a pivotal role in shaping your organization’s success by ensuring you not only hire the right talent but also optimize your entire recruitment process.

Discover how partnering with a recruitment agency can be a game-changer for your hiring efforts, helping you secure the best talent while saving you time, resources, and potential hiring pitfalls.

RELATED READ: Debunk Common Myths Associated with Recruitment Agencies

It’s More Than Just Hiring

#1 Access a Wider Talent Pool

Talent shortage leaves employers with fewer options and makes hiring difficult. Nonetheless, that should not mean reaching out to the same candidates over and over again. Though it is a complex task to find and approach new candidates, a professional team of specialist recruiters manages to do it.

Recruitment agencies nurture an extensive network of candidates that facilitates faster talent acquisition. They know how to locate new candidates and add them to the pool. This widens your talent pool and increases the chances of finding the perfect fit for your organization.

#2 Provide Industry Insights

Partnering with a competent recruitment agency means employers can use the agency’s extensive knowledge, such as the job market trends, salary benchmarks, and the availability of talent in your industry. The benefit of being tuned into their knowledge is employers can gain an understanding of local, national, and international job markets to formulate recruitment tactics.

Moreover, they understand the issues and expectations related to each open position. Therefore, they can provide you with the best advice, insight, and candidates, thus helping you make informed hiring decisions.

#3 Spot Relevant Candidates

The hiring process can be time-consuming and resource-intensive. It is impossible to manually sift through CVs, social media, and profiles of thousands of candidates. That’s why modern-day recruitment agencies use automated CV screening tools. Although AI-based screening tools cannot replace a recruitment team, they still assist in making the process easier and faster.

Experienced recruiters can filter profiles with the help of tools and screen the candidates interested in the role. Not only this, but a recruitment firm also assesses whether the candidates’ profiles match the client’s requirements.

#4 Limit Risk-taking

Using a recruitment agency limits the recruitment errors and risks involved. In simple terms, you stand a better chance of recruiting the right people at the right time and reducing the likelihood of hiring someone who is not a good fit for your company.

This is because candidates are evaluated based on their skills, which guarantees the match between selected candidates and businesses. As a result, candidates relate better to the organisation’s beliefs and goals.

RELATED READ: The Hidden Costs of Bad Hires

#5 Develop Content that Stands Out

Only a reliable recruitment agency can tread a tightrope and maintain a balance between employer branding and skill requirements. To reach new talent, you must craft a compelling message to engage the candidates and inspire them to respond.

The recruiters know how to engage new jobseekers without being nagging at the same time. They make sure your message stands out and gets noticed by active and passive job seekers.

#6 Facilitate a Controlled Process

A recruitment agency is the best talent acquisition way and helps you focus on your business functions. The expertise and methodology of recruiters take care of the distribution of the job offer across social media and channels, getting feedback from the candidates, and organising interviews.

The comprehensiveness of the process allows organisations to place better candidates in their work environment. Also, if you have specific hiring needs, such as executive-level positions or niche roles, recruitment agencies with expertise in those areas can provide tailored solutions.

#7 Help You Build a Strong Team & Relationship

A recruitment agency can help you build a strong team by finding candidates who are a good fit for your company culture and who have the skills and experience you need. They can also help you onboard new employees and provide them with the support they need to be successful.

Further, a strong relationship with a recruitment agency can lead to long-term benefits. They get to know your company culture, values, and unique needs, making future hiring processes even more efficient.

Values a Good Recruiter Should Have

A good recruiter doesn’t need to speak for their work. In fact, their values become the brand ambassadors. Therefore, if you are looking for a recruitment firm, you must look for the following values.
- Integrity – A team of recruiters that ensures compliance with rules and maintenance of quality is the one you should hire. This value must start from the beginning of the recruitment process and continue till the end.
- Honesty – Recruitment agencies must remain honest with candidates and employers. In addition, the team should ensure constant communication and deliver timely reports to the clients.
- Commitment- There must be a consistent commitment to providing the best services to clients and never fail to fulfill what was committed.
KNOW MORE: 3 Advantages of Working with a HR Specialist Recruiter

Make Your Hiring Journey Smooth

When choosing a recruitment agency, it’s important to find one with a good reputation and specialises in the type of talent you’re looking for. You should also interview the agency to ensure they understand your needs and have a process in place that will help you find the right candidate.

Here are some of the things you should look for in a recruitment agency:
- Reputation: Ask for references from past clients and check their online reviews.
- Specialization: Make sure the agency specializes in the type of talent you’re looking for.
- Process: Ask about the agency’s process for finding and screening candidates.
- Communication: Make sure the agency is responsive to your inquiries and that they keep you updated on the status of your search.
Final Comments

Hiring talent is no easy task. Of course, job boards & social media platforms can do the job, but they can’t replace a professional’s expertise to filter out and identify the right candidates. Most business leaders believe that a good recruitment process builds a strong and productive team of employees. Therefore, hiring a recruitment agency can be profitable for your business.

Onboarding a reliable agency allows you to tap into their expertise. A good recruitment agency will always add value to your business by expanding its services beyond recruitment.

How Can CGP Help?

The team at Cornerstone Global Partners (CGP) Singapore is client-focused and candidate-focused. Our performance-driven culture has helped numerous businesses find the right workforce possessing the required capabilities and character. We don’t take shortcuts and dig deep to know what our clients demand. Allow us to help you find the best talent for your growing team and organisation.

Get in Touch

FAQs

What is the importance of recruitment agencies?

Sourcing and placing the most suitable candidates is not an easy task. Moreover, it consumes many employers’ time, making them miss their important tasks. However, hiring a recruitment agency can help businesses in many ways. First, organisations can tap into their expertise and hire better resources. Secondly, recruitment agencies often develop a candidate pool that makes hiring faster.

What’s the most inspiring part of being a recruiter?

The most inspiring part of being a recruiter is constantly bringing people together. Clients and candidates reach out to recruiters to look for employees and employers, respectively. It is incredibly satisfying to help both parties connect and find each other.
September 11, 2023
How To Conduct A Performance Review?
Employee performance is something your organisation values immensely – and befittingly so. You cannot expect productivity, profitability, and success to knock at your organisation’s door if you don’t have a superlative employee performance review strategy. However, simply caring about your employees’ performance won’t justify your efforts in running your business. This is where employee performance review enters the picture.

While conducting employee performance reviews provides an opportunity for managers to assess an employee’s performance, identify areas for improvement, and set future goals, these reviews can be difficult to conduct effectively. Doing poorly can lead to resentment, decreased productivity, and even turnover.

This blog entails the right ways to conduct a performance review. So stay glued to the post for everything you’ve ever wanted to learn about employee evaluation. By following the tips in this blog post, you can conduct performance reviews that help your employees reach their full potential.

Conducting a Performance Review: How to Make it Successful?

The Basics

The temptation to give your employees feedback in one go or just before a review might lead you in the wrong direction. Instead, plan and identify the best time of the year to conduct performance reviews.

Look for particular processes or schedules that your organisation needs to follow.

Additionally, consider the budgeting process to determine the right time to hand out bonuses. Finally, make sure to have ample time to dedicate to this activity without hampering the business functions.

Decide & unveil the employee evaluation process and communicate the same to your employees.

Let us now proceed toward learning the aspects that can help organisations conduct good performance reviews.

#1. Set goals & expectations

The best way to set goals and expectations is to meet with your employees at the beginning of the year and share your vision & mission. This can be followed by meeting the employees one-to-one to set their performance goals.

Use the SMART rule to map them out.

S– Specific

M– Measurable

A– Achievable

R– Result-oriented

T– Time-bound

#2. Give feedback to employees all throughout the year

Hold touch-base meetings throughout the year so that the final review in the annual meeting does not come as a surprise to the employees. Therefore, pre-schedule these meetings and plan to conduct them on time.

Before every meeting, prepare an agenda and discuss the expectations and questions. Post these meetings, and prepare notes for yourself that will serve as a reference for you in the future and help you prepare well for the annual meeting.

ALSO READ: The Employee Productivity-Happiness Loop: How One Influences the Other

#3. Ask employees to stay prepared

Employees’ preparation must begin months before the actual reviews. Simply put, ask them to compile their annual performance results. This will give you a recap of their job responsibilities, current project work, and achievements. You can also ask them to evaluate themselves, which will give them an honest review of their performance.

#4. Prepare yourself

Spend at least two months before the final review compiling your notes and results for each employee. Then, collect employee performance references, such as sales reports, project deliveries, and call records. Besides, you can also gather qualitative data like client feedback. The exercise will give you an insight into the deviations between your expectations and employees’ performance, if any. Subsequently, you can move to your next plan of action.

#5. Hold the meeting

This is the most challenging part of the process. Ensure the meeting is a two-way conversation rather than making it seem like a lecture to your team members. Employees must stand a fair chance to share their strengths, challenges they have overcome, and areas of improvement.

#6. Shift toward the future

Discussing failures and areas of improvement is pertinent to conducting a successful performance review. However, once discussed in detail, you must redirect your focus to the future. Share new goals and your plan to make the employee succeed at work. This will make them feel more valued and ready to step out of their comfort zone to improve their performance.

ALSO READ: The Connection Between Employee Recognition and Retention

Summing Up

Although the employee evaluation process is never fun, it is crucial for increasing employee engagement & improving performance. Great leaders know how to make performance reviews fruitful for the organisation. They know how to make their people feel valued, appreciated, and understood. They put people first and focus on improving performance to see the best employee performance review results.

Summing up, here are some of the key elements of an effective performance review:
- Be specific and objective. Avoid making general statements or using subjective language. Instead, focus on specific examples of the employee’s performance.
- Be constructive and actionable. A performance review aims to help the employee improve their performance. Therefore, your feedback should be constructive and actionable.
- Be timely. Don’t wait until the end of the year to give feedback. Provide feedback on a regular basis so that the employee has time to make improvements.
- Be confidential. The performance review should be a confidential conversation between the manager and the employee. Avoid discussing the review with other employees or managers.
Contact Cornerstone Global Partners (CGP) Singapore to hire stellar employees that can contribute to your company’s success. After all, your organisation deserves to have start candidates on board.

Catch up on valuable information in case you missed it the first time. Click on the link here:

Reduce Risk & Identify S.T.A.R Candidates Using Behavioural-Based Interview (BBI) Techniques

FAQs

1. How do you conduct a good performance review?

To conduct a good performance review, there are a few tips managers must follow that are listed as follows:
- Prepare ahead of time
- Make the right choice of words and ask the right questions
- Be a good listener
- Provide concrete examples of exemplary achievements and areas of improvements
- Evaluate your employees’ progress
- Conclude the process with a final review and discuss everything with the employee
- Make performance reviews a regular exercise
2. What are the four stages involved when conducting a performance review?

The four stages of conducting a performance review are:
- Planning goals
- Monitoring performance
- Reviewing results
- Rewarding success
3. What are the key benefits of conducting effective performance reviews?

Some of the common benefits for an organisation to conduct performance reviews include:
- Improved employee performance
- Increased employee satisfaction
- Reduced turnover
- Clearer communication between managers and employees
- A more productive workplace
August 16, 2023
The Future Of Work: Preparing For The Changing Landscape Of Employment
The world is changing, and so is the way we work. Trends like, artificial intelligence and automation are the stimuli that have spurred a transformation in the work landscape.

When you think of the future of work, what do you see? Robots in place of human resources? Office setups are entirely different from today, or the absence of physical offices due to adopting remote work?

While it is impossible to predict the future of work, it is visible that the employment landscape is changing rapidly. Therefore, there is a need for human resources to prepare themselves and adapt to the transition. Presently, the focus is placed on technology in the future of work discussions. However, other factors such as remote work, workplace diversity, and the gig economy also shape the future of work.

Looking ahead and preparing for the changing world of work can help you maintain a work-life balance.

So, let’s take a closer look at the tips to prepare you for it.

#1. Create a professional development plan

“Planning is bringing the future into the present so that you can do something about it now.”- Alexander Graham Bell.

Outline your goals and map the route you must take to achieve them. This will allow you to clearly understand your expectations & desires, assess your skills, determine your success route, focus on essential activities, and strategise accordingly.

Follow the SMART goals rule:

S– Specific

M– Measurable

A– Achievable

R– Relevant

T– Time-based

#2. Evaluate your skills

Most importantly, for quick adaptation to the future of work, don’t wait. Take control of your profile and strengthen it by working on the weak areas. To make it happen, you must evaluate your skills and identify the areas you lack. As a result, you will be in a better position to work on yourself and add to the skills bucket. Pay careful attention to the skills you lack for your industry, as that will help you choose the right training or mentorship program.

#3. Explore the redesigning of learning

The definition of a skilled candidate has changed and is no longer restricted to just micro-learning. Simply put, you must lean into macro-learning to level up and prepare yourself technically and professionally.

While micro-learning refers to learning small chunks of a larger topic, macro-learning is learning complex skills. Therefore, your professional development plan must include your macro-learning plans.

#4. Capitalise on next-gen technology

Changing times demand embracing new, disruptive technologies to prepare for the challenges. The candidates who will be counted among the top talent are the ones who are using technology to prepare for the future of work today. Stay updated on the latest technologies that are impacting the marketplace and leave no stone unturned in leveraging their potential.

#5. Tap into your passion and become an expert

Turn your passion into a profession, and work won’t feel like work. Present-day organisations are looking for candidates who are specialists, and the trend will stay forever. So explore your talent and areas of interest that you can take in the future workplace. In other words, plan to dig deep into your passions and take on a specialised role.

#6. Work on your emotional intelligence

A majority of people seek answers to the question: How can I prepare myself for the future of work?

Well! Apart from working on technical aspects, you must also work on skills that fall under emotional intelligence. And they are self-awareness, self-regulation, motivation, empathy, and social skills. Most importantly, you must strive to become a better human and a leader. The skills will get you closer to your team and help you collaborate with colleagues. Moreover, AI and automation can never outsmart the leadership skills a human possesses.

RELATED READ: The Importance of Emotional Intelligence in Leadership

Trends for the Future of Work

The current year and the years ahead are set to see the changed work landscape. Here, we mention the most vital trends you must foresee to handle workplace diversity and changing work environments.
- - Quiet hiring
  - Flexibility for frontline workers
  - Focus on skills rather than candidates’ prior experience
  - Focus on employee well-being
  - Continuous boosting of DEI efforts
RELATED READ: Diversity and Inclusion in HR: Current Trends and Future Directions

Final Comments

A competitive talent landscape and pressure to reduce costs pose challenges for organisations. Given that, companies must start putting the right people in the right place and turn the challenges into opportunities. In addition, enabling a workplace to foster innovation and be inclusive requires leaders to strategize how work gets done.

You must take charge of your future and upskill yourself to better prepare for the upcoming changes. Whether you are an accounts executive or a data scientist, one thing remains constant: continuous learning & development, reskilling, and upskilling bring job security.

FAQs

1. What are the future trends in the workplace?

The future trends in the workplace are:
- - Flexible hours/four-day working
  - Prioritisation of well-being
  - Focus on skills over jobs
  - The emphasis on soft skills
  - Increased diversity, equity, and inclusion (DEI) efforts
  - Use of AI and automation
  - Transformation of HR using tech and data
  - Focus on employee growth
2. What are your suggestions for the future of work at the organization?

The world of work is changing rapidly. Therefore, employers and employees need to be on their toes to adapt to the changing scenario. While employers must plan accordingly to manage the effects of the future of work, employees must focus on upskilling themselves to stay ahead of the curve.

3. How will the future of work change?

With the advent of AI and automation, the future of work is changing. However, various other trends will bring about a change in the future of work. For instance, hybrid flexibility will allow frontline workers flexibility, such as what they work, with whom they work, and how they work. Continuous support for DEI initiatives, sensitive offboarding, emphasis on continued employee growth, focus on skills over jobs, and prioritisation of employee well-being are among the other changes that will define the future of work.
July 28, 2023
The Hidden Costs Of Bad Hires: Why A Recruitment Agency Is A Cost-Effective Solution
Nothing but Jeff Bezos’ words are a perfect start for the blog that entails the hidden cost of bad hires.

“I’d rather interview 50 people and not hire anyone than hire the wrong person.”

Bad hires can be costly, both financially and in terms of lost productivity. The hidden costs of a bad hire can include recruitment costs, training costs, decreased productivity, and damage to the company culture. A recruitment agency can help you avoid these hidden costs by providing you with access to a pool of qualified candidates, conducting thorough screening and reference checks, and providing you with expert advice on the hiring process.

Globally, several organisations are falling foul of bad hires. In most cases, the true cost of a bad hire is roughly 3.5 times the employee’s annual salary. While a bad hire can have a significant financial impact, at the same time, it can also damage the culture, impact productivity as well as result in overall dissatisfaction between employees and employers.

In this blog, we will discuss how bad hires can impact your organisation’s reputation & profitability and the best option to fix the situation.

Counting the Costs: The Impact of Bad Hires

Hiring a new employee is costly. But the recruitment process can become costlier if you make a bad hire. If an employee is not the right fit, the employer loses the money spent on recruiting and training. Moreover, starting the process over again consumes employers’ time and resources. Things get even worse when the employee is hired to complete a project with tight deadlines.

1. Loss of productivity

Your business won’t function at its best productivity level if you have a bad hire. Often, an employee who isn’t a good fit for the role will deliver output that won’t meet the standards. Therefore, you will lose money against the value you expected. As a result, other team members would face additional work pressure to complete the work left incomplete by the bad hire.

2. Reduced employee morale & workplace culture

One bad apple ruins the bunch. Hiring those who are not a good fit for the organisation can make the workplace stressful. Ultimately, it affects existing employees’ attitudes toward their jobs, colleagues, and the workplace. At times, the employees would feel demotivated to manage extra work without additional compensation.

Do you know? Bad hires bring along a host of issues:
- - 37% higher absenteeism rates
  - 18% less productivity than good hires
  - 15% less profit than good hires
3. Unhappy clients

A bad hire may lead to you losing valuable customers. Your clients have certain expectations from your business, but a bad hire would fail to meet them. In other words, they won’t leave their comfort zone to satisfy the client.

4. The ding to the company’s reputation

Your employees are the brand ambassadors of your organisation. An employee who doesn’t represent your company well can send a negative message to clients and prospective employees. This tarnishes your brand’s reputation and keeps new clients, partners, vendors, and prospective job applicants away.

Why is a Recruitment Agency a Cost-Effective Solution?

These days, finding an ideal candidate is hard. Granting all this, even if you manage to hire a candidate, things can get upside down if you make a bad hire. In such circumstances, nothing can be wiser than hiring a recruitment agency because it’s cost a cost-effective solution.

1. Faster hiring

Availing of the services of a specialist recruiter shortens the time to hire. You won’t have to spend time sourcing and placing the right candidates. A reliable recruitment agency can find candidates faster because of the availability of a candidate pool. Employers can tap into its talent pool that comprises already vetted candidates.

2. Industry expertise

A good recruitment agency houses specialist recruiters that possess industry expertise. These recruiters understand industries, market trends, salary levels, and skills candidates require to be successful.

RELATED READ: Agency Recruitment vs In-House Hiring: Which Is Right For Your Business?

3. Network

Recruiters develop a candidate pool using the network they have developed over time. This means employers can choose from a wide candidate database and select the ones that suit the role aptly. Also, if a company doesn’t hire a suitable candidate for some reason, they can still stay in touch with them through the recruitment agency.

4. Flexibility

A reputable recruitment agency also maintains a pool of temporary or contract candidates that can be placed temporarily. The flexible options give employers the opportunity to onboard someone for a short period or on a contract basis.

To Conclude

The hidden cost of bad hires: It’s more than what you observe.

It’s painful when you make the wrong hire. So, learn to correct the wrong steps you took previously while hiring. Be selective with whom you hire and ensure you see red flags to spot bad hires. The ultimate formula to prevent bad hires is to focus on your requirements and look for a recruitment partner that can assist you in hiring candidates you deserve and desire.

Why choose us?

Cornerstone Global Partners (CGP) Singapore has a track record of helping employers find the best employees. We are a group of recruiters that help businesses stay focused on what matters. Our team has continually adapted to meet the dynamic needs of organisations and the variety of roles they wish to fill.

Our passion for connecting the right employers with the right employees has remained unwavering all these years. That’s one thing we will never change. Contact us if you are looking for star candidates to work for your organisation, and we would be more than happy to connect.

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FAQs

1. Which source of recruitment is cost-effective?

Hiring a recruitment agency is the most cost-effective source of recruitment. They maintain a candidate pool that consists of already vetted candidates, making it easier for employers to find employees. Moreover, they possess industry expertise that helps them understand employers’ requirements. Another benefit is that recruitment agencies offer flexible options for temporary or contractual employees.

2. How does cost affect recruitment?

Various factors affect recruitment. However, the most dominant factor is cost. Hiring an employee is a costly affair as it consists of the following expenses:
- - Advertising the open positions
  - Screening the candidates
  - Interviewing candidates
  - Conducting background checks
  - Training the new employee
All these factors affect recruitment and determine how employers find suitable candidates.
July 21, 2023
8 Incredible Employee Engagement Activities And Why Do They Matter
What is that one aspect that can make or break an organisation’s substratum? Undeniably, it is employee engagement. Disengaged and less motivated employees compromise productivity and can hamper an organisation’s reputation. But it’s on you to create an environment that engages employees as they look to you for cues.

“When leaders throughout an organization take an active, genuine interest in the people they manage, when they invest real time to understand employees at a fundamental level, they create a climate for greater morale, loyalty, and yes, growth.”- Patrick Lencioni.

The tip is to exhibit strong leadership and focus on employee engagement and motivation. A host of activities can engage employees and boost their motivation.

Here is our list of eight incredible employee engagement activities known for bettering workplace culture.

8 Incredible Employee Engagement Activities

1. Workplace Parties

Work becomes fun when employers throw parties to celebrate accomplishments or other occasions. Some workplace party ideas to bring everyone together are:
- - Halloween parties
  - Thanksgiving dinners
  - Potluck meals
  - Christmas party
  - New Year’s Eve party
Prefer choosing quality over quantity and making sure the celebrations count.

2. Games, Tournaments & Competitions

Games let the teams come together and have fun at work. The main objective of conducting games, tournaments & competitions is to:
- - Inculcate team spirit among employees
  - Let them meet other teams
  - Acquire skills like problem-solving, communication & collaboration
Maintain a fun-filled workplace culture to help your people work in a stress-free environment.

3. Special Days

By mentioning ‘special day,’ we do not indicate celebrating some days with great pomp and show. Instead, we mean to have your employees enjoy special days such as “Pajama Day,” “Ethnic Outfit Day,” or “Bring Your Child To Work Day.”

The benefits of special days are:
- They refresh the employees’ minds.
- They excite the employees.
- They change the pace and instill the work environment with positivity.
4. Lunch & Learns

Better known as learning lunches, it is the best way to bring your employees together and make them learn. Instead of having alien speakers, ask a team member to present on a topic.

One thing you need to bear in mind is to keep them short and sweet. Why? Because no one loves to have a long lunch meeting.

5. Employee Training

The employee retention process shall remain incomplete if you miss training your employees timely. Whether it’s a baby boomer or an experienced employee, every person expects to receive learning opportunities. Therefore, strategise to allow employees to learn at work and upskill themselves.

You can have a weekly coaching session or provide your employees with online learning resources. Another profitable way is to invite a special speaker and teach your employees something new.

6. Recognition Programs

Be an exception and live by the core values. Create an employee recognition program that syncs with your organisation’s core values. However, the creation of such a program won’t be enough, and you have to ensure everyone on your team knows about it. Moreover, the program should make more sense, with you pointing to specific behaviours that exemplify them.

7. Create a Local To-Do Things Guide

Get your team together and ask them to pen down their favourite local places and things to do. The list can be kept as a reference for future team outings while allowing your employees to bond with each other.

Talking about non-work matters gives them better chances to break the ice and bond with each other.

8. Send out an Employee Survey

The best way to make employees feel valued and engaged is by seeking honest feedback about their work. And the most appropriate way to seek feedback is by sending out an employee survey. It’s easier for employees to tell what they feel about work anonymously.

You can ask questions like:
- - How’s your day going?
  - What changes/improvements would you like to bring to the existing work environment or within your team?
  - How happy are you with your current role?
  - Do you feel you are getting enough learning opportunities?
  - Are you satisfied with your compensation?
Why do Employee Engagement Activities Matter?

Employee engagement is about improving the workplace culture and aligning employees’ aims with organisational goals. For those running businesses, employee engagement activities keep their people hooked to the organisation for a long time. For those working every day, employee engagement activities play a crucial role in boosting their motivation.

The benefits that can be reaped from employee engagement activities are:
1. 1. Increased productivity
  2. Better customer service
  3. Higher profitability
  4. Higher employee satisfaction
  5. Active participation of employees in company initiatives
  6. Brand Advocacy
Conclusion

Employee engagement is an organisation’s investment to enjoy the privilege of staying in business. If you take time to appreciate and engage employees, they will reciprocate in a thousand ways. Connect the dots between individual roles and organisational goals. That’s the new talent contract to improve employee retention.

Over time, you will find that engaged employees believe in the cause of the organisation and are in the game for the game’s sake. After all, the current volatile and uncertain environment demands engaged employees for success and survival.

FAQs

1. What are employee engagement activities?

Employee engagement activities are exercises that increase employee motivation and positive feelings about the work environment. These activities are also known as team engagement activities, resulting in lower absenteeism and turnover. Moreover, these are fun and enriching, urging the employees to take a more active role in the organisation.

2. What are some employee engagement ideas?

The most common employee engagement ideas are:
- - Workplace parties
  - Offer mentorship opportunities
  - Host happy hours
  - Establish culture committees
  - Have theme days or weeks
  - Help employees network
  - Implement diversity and inclusion
  - Host a game show
  - On-demand learning
3. What is employee engagement, and why does it matter?

Employee engagement is the term that describes the exercises that employers undertake to keep employees engaged. It increases employee motivation and lowers absenteeism and turnover. Employee engagement is necessary for an organisation as they help keep the employees engaged and boost their morale.
July 14, 2023
Employee Retention Metrics You Should Be Tracking
Millennials: the job-hopping people, are less interested in staying in their current jobs. As per a Gallup report, 21% of millennials are reported to have changed their careers within the past year.

With this shocking revelation in the market, employers continue focusing on employee retention. Nevertheless, just mapping the route to retain employees won’t suffice. In fact, as an employer, you must also know the employee retention metrics you should be tracking.

Why You Should Measure Employee Retention?

#1. Understanding your workforce dynamics

Measuring employee retention allows you to understand which employee leaves & when, and who stays. With the information, organisations can determine whether the top performers are staying or leaving.

#2. Identifying issues in time

Organisations can identify issues early and take appropriate action in time to correct the situation.

#3. Strategising

Measuring employee retention enables organisations to create an effective employee retention strategy after analysing the conditions.

#4. Saving money & resources

Focusing on employee retention measurement empowers organisations to work on retaining employees. Universally, companies that succeed at retaining their employees save themselves from spending money on hiring and training new employees.

Before we delve deeper into the details, understand what employee retention can do to your company:
- - Fosters improvement in the company’s culture.
  - Enables employees to develop strong workplace relationships.
  - Increases employee productivity.
  - Raises employee engagement levels.
  - Reduces costs.
  - Increases revenue.
  - Improves employee morale.
  - Creates better employee experience.
Now, you are prepared to read ahead. In this article, we define the employee retention metrics you should be tracking, and the reasons for doing so are the benefits mentioned above.

Common Employee Retention Metrics

1. Employee retention rate

The metric that lays the foundation for tracking employee retention is the employee retention rate. The term refers to the indication of a company’s ability to retain employees over a period of time.

A company could be successful if it welcomes new hires regularly. However, its success reduces to half if, on the other hand, it fails to retain its existing employees.

The employee retention rate is calculated by subtracting the number of employees who left from the total number of employees and dividing the remainder by the total number of employees. For conversion into a percentage, the number is multiplied by 100.

2. Voluntary turnover rate

The voluntary turnover rate is defined as the rate at which employees leave an organisation willingly. As a matter of fact, a low voluntary rate depicts that employees are happy with their organisation and enjoy working there.

To calculate the voluntary turnover rate, let’s say, ten members resigned from their jobs voluntarily out of 200 employees. You can divide ten by 200 and then multiply the number by 100, which would give you a voluntary turnover rate of 5%.

3. Involuntary turnover rate

The involuntary turnover rate is precisely the opposite of the second metric. Simplifying it, the term refers to the percentage of employees dismissed or laid off by the organisation. The higher the rate, the poor an organisation’s workforce planning and employees’ career development strategies.

You can calculate the rate in the same manner as mentioned for the voluntary turnover rate. The only change is dividing the number of employees dismissed or laid off from their jobs by the total number of employees. You can obtain the rate by multiplying the number by 100.

ALSO READ: Career Mobility: A Key To Attracting And Retaining Talent

4. Employee satisfaction rate

Employees who are well recognised and rewarded timely always stay satisfied and happy with their jobs. Not only this, an organisation that cares for employee development also nurtures satisfied employees. As a result, they tend to stick to a particular organisation for a relatively longer duration.

Employers can measure employee satisfaction by asking the employees to rate the organisation on a scale of 1-10. The employees have to rate based on how likely they are to recommend you as an employer.

5. Average employee tenure

The tenure for which an employee stays with an organisation indicates their satisfaction with the organisation. Employers calculate the average employee tenure by averaging the tenures of all employees with the total number of employees. A company having employees stick to it for a longer duration enjoys a high employee retention rate.

The metric allows the HR departments to identify & address concerns that bother the employees. Thus, they leave.

6. Cost of employee turnover

Acquiring new talent is costlier than retaining the existing ones. Furthermore, a company with high talent acquisition and low retention rates can never succeed in the long run.

The formula to calculate the cost of employee turnover is summing up costs such as
- - Monthly salary,
  - Advertisement cost,
  - Background checks,
  - Cost of time invested by managers in conducting interviews,
  - Onboarding cost of new hires, and
  - Training cost
7. Engagement scores

Employee engagement is a metric that indicates whether or not an employee will remain with the company. Generally, HR personnel uses pulse surveys or engagement surveys to collect the required data.

A pulse survey consists of short questions to understand employees’ perceptions of the work environment. Additionally, employers can measure engagement by asking a series of questions. The surveys can be conducted quarterly or annually.

8. Flight risk

It’s not always possible to predict the future and tell which employee will leave the organisation shortly. Nonetheless, some aspects can be counted to identify the same, which are:
- - Underpaid employees
  - Employees who perceive they are not being paid adequately
  - Employees that have recently switched jobs
  - Employees that feel the lack of career development opportunities
By identifying these red flags, you can estimate the flight risk.

Conclusion

Knowing the employee retention metrics will not only help you understand the state of employee retention. While this goes above and beyond and helps you assess the effectiveness of your employee retention efforts. So take suitable measures now and make them work for the employees’ career development.

At CGP Singapore, we have a comprehensive line of HR solutions that meet the needs of companies with distributed teams, including talent search, executive search, and contracting. Learn more about how we can help you bring great talents together across Asia.

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FAQs

1. What is the metric for employee retention?

Employee retention refers to organizations’ practices and strategies to retain talented employees. The main objective is to reduce turnover during a specific period of time. The most common employee retention metrics are employee retention rate, retention rate per category, voluntary & involuntary turnover, employee satisfaction rate, and cost of employee turnover, and the list is endless.

2. What is an example of a retention process?

While there are many ways an organisation can retain its talented employees. However, as per the present circumstances, offering flexible work is the biggest example of an employee retention process. The employees remain productive and loyal to the organisation even when working from home. The reason is they feel valued by their employer as they can spend more time with their family when given the freedom to work from home.
June 29, 2023