tagged: featured

Don’t Assume Employees are Happy Just Because They Have Job. You Must Still Engage Them.

Posted by admin in Compensation, Productivity, Recently Added

In a recent whitepaper drafted by icims, they concluded that employee engagement and retention is emerging as the greatest challenge facing leading organizations’ Talent Management initiatives.

Similar to past  periods of economic instability, executives are currently focusing their  attention on the financial aspects of the organization rather than the  workforce. Similarly, managers are placing less emphasis on employee  engagement as soaring unemployment rates often lead to the notion that  employees are happy to be employed at all, and that further engagement is  unnecessary. This state of mind is very dangerous for businesses as it is  during these times of economic instability that workers need to be engaged  and feel valued the most. With economic instability and layoffs comes the  erosion of employee loyalty and trust, both of which negatively affect  workforce engagement levels.

Here are just a few facts:

• Only one third of the  US workforce is fully  engaged at their  current position.
• Employee turnover costs the US economy an estimated $5 trillion annually.
• Employees have 51% lower turnover and 18% higher productivity.

So, what do you need to do about it?

Below is a list of Six Key Essentials for Engaging and Retaining Top Talent Throughout your Organization’s Talent Lifecycle.

1) Develop an Employment Brand – Strategically develop a  cohesive employment brand reflecting your  organization’s vision  for the future and long  term talent  management needs. Make your employment brand an integral part of your organization’s everyday recruitment and talent
management processes.

2) Maintain a Robust Pipeline – Develop a cohesive CRM program to engage your pipelined candidates and strengthen your employment brand.

3) Strive for an Ongoing Dialogue with Candidates – Leverage HR Technology to set up triggers for automatic communication letting candidate know where they stand in the recruitment cycle.

4) Training – To increase employee engagement levels, strive to create a working environment where training, skill transferral and knowledge sharing are encouraged.

5) Compensation – Implement some form of performance related compensation to motivate employees and keep them focused on critical success factors.

6) Open line of Communication – Utilize Employee Engagement Surveys to gain a deeper
understanding of your workforce’s career expectations and overarching goals.