4 Ways to Reduce Turnover
4 Ways to Reduce Turnover & Build Employee Engagement
In this ever-changing business climate, employee retention and longevity is not what it used to be. The evidence would indicate that a large number of employees in today’s workforce will change jobs every two years. In the first 10 years of their career, many younger workers may have as many as 8 jobs. So, what can businesses do to retain top talent? Engaging employees is key. A recent survey of almost 90,000 workers in 19 countries, conducted by consulting firm Towers Perrin, revealed that about 50% of engaged employees say they have no plans to leave their company.
We recognize that most professionals will consider changing companies for additional work experience. I believe there are certain steps businesses can take to keep employees engaged and evoke loyalty in order to cultivate strong talent.
The pursuit of professional bliss is a lifelong journey. Businesses in today’s market must provide their staff with opportunities to grow in their current positions, as well as experience various fields of work. Additionally, engaging the ‘hearts and minds’ of employees through sincere appreciation, rewarding accomplishments and encouraging ideas, enables them to feel engaged in their company’s initiatives. This connection to the company provides employees with a sense of commitment making it less likely that they will leave.
Here are some suggestions when considering programs focused on engaging employees and developing high potential talent:
Support employees in building strong skill sets
Top talent is often hired to support a project or strategic initiative. At the point employees believe the project is losing visibility or their learning curve is slowing, they begin to consider leaving the project, the department or the organization. By supporting employees in building both technical abilities and transferable skills (communication, confidence, leadership, and people skills) an organization can
In this ever-changing business climate, employee retention and longevity is not what it used to be. The evidence would indicate that a large number of employees in today’s workforce will change jobs every two years. In the first 10 years of their career, many younger workers may have as many as 8 jobs. So, what can businesses do to retain top talent? Engaging employees is key. A recent survey of almost 90,000 workers in 19 countries, conducted by consulting firm Towers Perrin, revealed that about 50% of engaged employees say they have no plans to leave their company.
We recognize that most professionals will consider changing companies for additional work experience. I believe there are certain steps businesses can take to keep employees engaged and evoke loyalty in order to cultivate strong talent.
The pursuit of professional bliss is a lifelong journey. Businesses in today’s market must provide their staff with opportunities to grow in their current positions, as well as experience various fields of work. Additionally, engaging the ‘hearts and minds’ of employees through sincere appreciation, rewarding accomplishments and encouraging ideas, enables them to feel engaged in their company’s initiatives. This connection to the company provides employees with a sense of commitment making it less likely that they will leave.
Here are some suggestions when considering programs focused on engaging employees and developing high potential talent:
Support employees in building strong skill sets
Top talent is often hired to support a project or strategic initiative. At the point employees believe the project is losing visibility or their learning curve is slowing, they begin to consider leaving the project, the department or the organization. By supporting employees in building both technical abilities and transferable skills (communication, confidence, leadership, and people skills) an organization can