It’s high time we realize that employee engagement is directly associated with staff retention. If an organization fails to engage employees at work, they aren’t left with enough incentive to stay loyal. Even a little increase in the pay wouldn’t help retain an employee if they’ve decided to move on due to lack of engagement. It is important to present a promising career to influence an employee to stay, and that includes a clear development direction and satisfying work.
All in all, employee engagement is the key to solving the turnover puzzle. And if that’s the problem your organization has been facing, the information shared in this article is surely going to come in handy.
How Employee Engagement Works for Retention
So before we jump to how to improve engagement, let’s first take a look at how it impacts retention. According to a Gallup report, employees who are more engaged in their workplace are less likely to find other opportunities and therefore reduce the overall cost and impact of turnover. Better engagement helps build a strong bond between employees and their organization’s purpose and mission. This makes them the ultimate asset and the brand ambassadors of the organization they’re serving.
High engaged individuals are also likely to work on customer-employee relationships, helping the company achieve its goals, increase revenues and profitability.
The report also concluded that organizations need to put in better efforts to increase employee engagement if it’s below one-third of their workforce. This is a sign that could lead to a costly turnover if not dealt with in time.
Solve Turnover Puzzle with These Employee Engagement Strategies
Improving employee engagement isn’t a one-off effort. It requires sustained attempts to achieve better retention rate and other benefits. And while it is important to tailor the strategies according to your organization’s specific culture, some generic ideas here will help with immediately shifting mindsets.
Here are some important components that result in improved employee engagement:
Employees feel undervalued if they remain unnoticed despite their dedication and achievements. One of the best ways to engage employees is to offer them the recognition they deserve. Publicly recognize employees for completing projects or for a job well done.
It is the leader’s responsibility to value and appreciate an employee’s contribution to foster more engagement. Employees feel more connected and loyal to a company where their efforts are appreciated and valued. Consider setting up a reward program or offer a bonus for achieving certain tasks.
This can have a very positive overall impact on the rest of the employees too. Recognition or rewarding of some sort will encourage other employees to work hard as well.
An employee spends a major part of their day at the workplace. Organizations need to maintain a healthy and motivating culture to keep the employees happy and engaged. A culture that’s supportive, encouraging, and motivating will not only persuade an employee to do his or her best but would also help with retention.
Whether you do this by having team meetings, holding a company-wide sports activity, or by allowing pets in the office once in a month, the culture of your organization should be warm and positive to encourage every employee to show up every morning with great spirit and enthusiasm.
Work on the elements that would perfectly define a relevant organization culture. It should be as important and unique as the business itself.
We can’t stress enough on the importance of offering learning and development opportunities within the organization. One of the major reasons that persuade employees to quit is when they no longer see growth or skill development in their current workplace. Employees today want to stay up-to-date with the right education and learning opportunities, which also gives them a chance to improve their career prospective within the company.
Offering the best and most relevant development opportunities establish growth paths and provide the resources that would keep your employees engaged and help them achieve their career goals. If you’re currently working on a generic mentoring or coaching session, try and upgrade this to help each employee achieve their personal goals. The best part about offering training and learning programs is that improved knowledge and skills also translates into better and bigger benefits for the business.
If not addressed in time, retention can be a real problem for organizations to deal with. Higher turnover rates are more than just a puzzle. It comes with unavoidable costs and time-consuming procedures, as well as a bad employee experience. Use your resources in the best direction and start working on improving employee engagement today to have great results with retention as well.
Implement these three important strategies and don’t forget to tailor them according to your management styles to gain better results with employee engagement.