Class is back in session as we bring you part 2 of Talent Management University. In this series we are explaining how to properly train, manage and successfully move your talent within your organization. As part one focused on the new hire and the onboarding process, we’re moving on in part two to discuss keeping employees engaged.
Sophomore Year: Engagement
When managers are able to improve employee satisfaction, team productivity rises 12%. Being a “best” place to work isn’t simply about having the best benefits and topping the charts. It’s about attracting and onboarding new employees with a great employer brand and solid candidate experience. The secret to being a great place to work has more to do with what you’re doing for your current employees. It’s about doing what you can for the people who already work for you.
Organizations with higher than average levels of employee engagement realized 27% higher profits. Deloitte’s Global Human Capital Trends 2016 research has found five keys to success in building a thriving organization today.
- Goals are clear and people are rewarded for results. People want to know what they’re responsible for and how they’re being evaluated. High performing organizations set clear goals, assign responsibility and define what success looks like. This can easily be managed by a goal alignment platform. If a company’s culture rewards success, people will focus on how to get things done and worry less about what to do.
- Teams are empowered. Today, many people work in small, connected teams. Great organizations empower teams and individuals, letting them decide how to succeed. When people feel they own their work, they take it seriously, because their work becomes a reflection of themselves.
- Talent is mobile and agile. Great companies move people around a lot, and talent mobility is integrated into the culture. Rather than let people or executives own their jobs and their organizations, encourage them to change roles, move from line to staff, take an international assignment, and reward them for the effort.
- Training and learning is valued. No organization does everything right, and no individual is perfect. Great companies look at all problems as an opportunity to learn and improve. These organizations give people time and resources to learn. Businesses that push for execution alone and don’t make time for educating their workers often fall behind.
- Leaders inspire through vision and culture. Great companies have leaders who know where the company is going, communicate a meaningful and inspiring direction, and closely model its culture. People want to be part of a winning team: when leaders are aligned with each other and communicate well, people get on board and want to succeed.
After all the hard work your team has put into recruiting and hiring the best people, you can't afford to watch them walk out the door. Keeping your organization aligned means more informed and motivated workers, which equals greater employee retention and lower employee turnover. As Josh Bersin (@Josh_Bersin), principal at Deloitte and founder of Bersin by Deloitte, spells out, the costs of employee turnover are increasingly high, as much as 1.5 to 2 times an employee's salary.
Are you ready to increase retention and productivity, decrease turnover and miscommunication, and build an organization that has performance management down to a science in part 3, the finale? Talk to one of our representatives today and learn about our total talent management suite that’s designed to help you source, recruit, interview, hire, manage and build your team.