Employee Retention and Losing Talent

August 4, 2015 Deb Broderson

 

“People leave when they don’t feel appreciated. That’s why we’ve made recognition a really high value. Our business is people-capability first; then you satisfy customers; then you make money.”
~ David Novak, CEO of YUM! Brands

Acquiring talent will always be a constant challenge for companies. The costs of onboarding new employees and the amount of time spent until they are able to work at 100% capacity can be stifling. Retention can be directly correlated to engagement levels of your employees. Successful companies keep a close eye on increasing employee engagement as a proven means to maintain employee retention and avoid losing talented individuals.

One key element of employee retention is that companies retain employees when employees feel their needs are being met. Meeting these needs has an effect on groups as well as individuals. If the majority of employees are engaged and motivated, this motivation can pour over into other departments further promoting a culture of engagement. But beware, it only takes a few unengaged, unhappy employees to have a negative influence on the group. So are you retaining and engaging your employees?

Ask yourself these questions:

How well do you know your employees?

Understanding your employees’ needs is not a quick and easy task. It requires time and investment of gathering feedback from employees. Feedback can unveil unknown employee pain points as well as employee positives that can be promoted. It’s simple, you must know what your employees needs are before you can assume that they have been met.

You can find more about understanding employees’ needs in our resource “The Non-Engagement Epidemic”Download this ResourceAs always, our resources are free for you to download.

 

Does your company culture and environment promote employee retention?

Engaged employees influence engagement for others. When your employees are engaged there is motivation to perform. Employees find themselves personally invested in projects and desire the needs of the team to reach goals and objectives. A success celebrated by the company is a success celebrated by the employees. What a wonderful environment to work in… why would anyone want to leave?

Do you regularly recognize and reward employees for their work?

A company’s culture can be defined by how employees actively engage as a group. However, we must also address that teams are still comprised of individuals. Just like the group has specific needs, so do the individuals. As previously mentioned, receiving feedback from employees is critical. Engagement is fed through feedback. Recognizing that an employee or group has done excellent work AND rewarding them for their efforts ensures those employees will be motivated to continue their performance. When hard work goes unrecognized, the motivation to go above and beyond fades. Eventually, employees simply “go through the motions”.

Looking for Ideas to create a culture of engagement? More information is available in our resource “Employee Engagement: Changing the Game”Download this ResourceAs always, our resources are free for you to download.

 

Does management effectively lead employees to success?

Effective leadership management guides employees to success. Effective leaders provide the feedback to employees to know how they are performing and how their work is contributing to the company’s success. These managers also seek feedback from employees to stay aware of any issues or pain points that may arise. Engagement starts at the top. Without management setting the bar for engagement, the example to lead is lost.

Do you provide your employees the means for development and advancement?

Have you given your employees something to strive for? Do employees have the means to increase their skill sets and develop? Are there opportunities for employees to advance within the company? Without the opportunity to move forward in your career, employees will look for opportunities elsewhere, outside of your company. In companies like this, the opportunity for advancement or lack thereof results in employees jumping ship to go where those opportunities are available.

Now you know the importance of engagement, learn how to measure your employees’ engagement levels in our resource “Measuring Employee Engagement Levels” Download this ResourceAs always, our resources are free for you to download.

 

Engagement is one of the most important keys to employee retention. What can your company do to increase engagement and create an engaging culture? Let Perks get you started. Request a consultation and find out how our solutions directly target employee retention and engagement.

After all… we are “the scientists of motivation”.

About the Author

Deb Broderson

Deb Broderson comes to Perks with 30 years of diverse experience leading channel marketing, marketing operations and program management teams within the technology industry. Deb has provided strategic direction to Fortune 500 clients, developed and executed global, multi-channel, go-to-market strategies and created worldwide field marketing organizations. Deb has worked on both the agency and client-side of the business, providing a well-rounded perspective to client challenges. Deb was honored as one of the Top 50 Channel Chiefs in North America by CRN.

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