Lasting Employees
The consequence of the aforementioned steps (#1 -#4) in How to Make Your Company the Best Place to Work, is lasting employees. Businesses are complex systems that have human beings at their core. People are the alpha and omega of business and are the true X-factor. By focusing as carefully on people as they do on products, systems, and org charts, organizations can humanize and create sustained success.
EDITOR’S NOTE: SEE PART 4 AND PRIOR BELOW
However, only 33% percent of leaders are extremely confident in their organization’s ability to motivate employees at an emotional level (Northhighland White Paper, 2018). The emotional commitment an employee has to your company equates to their level of engagement.
Engaged employees don’t just work for a paycheck, bonus or promotion; they believe in the company’s values and work toward its success.
Disengaged employees can cost your company a lot of money.
- Decreased productivity
- High turnover
- Absenteeism
- Fiscal costs of stressed-out workers (illness, etc.)
- Poor customer service
You might not always notice that you have an “engagement” problem, but you will definitely notice the effects of disengaged employees.
Conversely, actively engaged employees are three times more productive (Rapid Learning Institute 2017). And, companies with a formal engagement strategy in place are 67% more likely to improve their revenue per full-time equivalent on a year-over-year basis (Aberdeen 2016). In today’s new economy, long-term market success is less about what you do, but who you are as a company: your mission, values, beliefs, culture, and your people. The companies that get this win.
Difficulty retaining good employees in this current competitive workforce? Quick Tips for reinforcing lasting employees in your workplace:
- Learn how your employees feel rewarded and incorporate what you learn into a regular acknowledgment tradition (e.g. announcements in meetings).
- Administer regular employee engagement surveys, either written or interview style, so you can get a pulse on your employees level of engagement.
- Provide opportunities for employees to share both their personal and professional goals and brainstorm ways they can achieve those goals inside and outside of the office (e.g. professional development).
This Week’s Action Steps:
- What is it about your employees that sets your company apart?
- How are you going to share the knowledge of that differentiating factor with the world?
