Employees are looking for more meaning in their work.
Minneapolis, MN - 8-12-19 -- Recent reports have shown that the average cost of losing an employee is an alarming 33% of that employee’s annual salary.
In addition to costing a significant amount of money for your organization, filling the hole that the employee left takes time and effort. There are job postings that have to be created, applications that need to be sifted through, and interviews that must be conducted.
And, while searching for a new employee, they will likely experience a decrease in productivity as well.
This begs the question, how can you increase your employee retention rate so that members of your team aren’t leaving you for other opportunities?
While benefits and things like work-life balance are important, a forgotten detail of keeping your employees committed is providing them with the opportunity to be engaged at work.
Gallup research found employees who are “engaged and thriving” are 59% less likely to look for a job with a different organization in the next 12 months.
When it comes to increasing engagement within the workplace, many companies are turning to consultants — who have extensive experience in helping to craft more productive, engaging workplace environments.
“Employee engagement is the leading indicator of success for any organization,” Says Dr. Robert Sicora, a Minnesota-based consultant who helps organizations around the world increase their employee engagement.
“When we work with an organization, we use an Organizational Impact Analysis to measure their impact of engagement,” he continues, “This allows us to illustrate to our clients the issues they are having, and eventually, show the solid returns of our services in the form of measurable results.”
But what are the methods these consulting companies use to increase engagement for their clients?
For that, the consultants turn to their models.
“By using a proven balanced model of engagement — such as our 8 Factors of Engagement — we help employees and employers identify the specific areas their engagement issues are stemming from,” says Sicora.
After all, if you can’t get buy-in from your employees, you’re not going to make much improvement in terms of engagement.
“An employee-led action plan allows us to implement initiatives that are meaningful and produce an immediate impact on the culture in the workplace,” Sicora concludes.
Going forward, look for more and more organizations to tap these third-party resources and their outside, fresh perspectives to help keep their teams engaged.