Retaining Top Talent – A New Focus on Employee Engagement
Once the perfect candidate has been found and hired, the focus shifts to retaining that candidate as a long term, productive employee. With the unemployment rate dropping below 5 percent for the first time in eight years, it’s no surprise that business owners are increasingly concerned with employee engagement to retain their top talent.
As a company thinks about the different generations represented by their employees, it can start to constructively think about employee engagement. Engagement is the extent to which employees are motivated and contribute to the company's success. When engaged, employees are willing to apply effort to help the company achieve its goals.
With respect to engagement, remember the following:
- Employees want to be respected and appreciated
- Employees don't care what you know until they know you care about them
Below are a few engagement strategies employers may also want to consider:
1. Ensure employees know their work matters: People need to see the how their work contributes to the company’s success.
2. Establish a strong corporate culture and communicate it: Corporate culture is rooted in a company’s values and reinforced by company leaders. Clearly define what the culture is and then ensure it’s understood by employees and lived every day.
3. Build and strengthen employee connections with team activities: Employee recognition is good, but “Employee of the Month” is no longer that effective. Community service outings, recreational leagues and fitness challenges to encourage employees to interact with each other, build camaraderie and foster team cohesiveness can be more successful than singling out one employee.
4. Define employees’ career paths: A key driver of turnover is the perceived lack of career opportunities and advancement. Provide role clarity and career path information to employees and translate career goals into day-to-day work. When employees are learning, they are engaged, so it’s important to offer leadership training and skill development opportunities. Continuously promoting from within sends a deep rooted message.
ENGAGE, AND STAY ENGAGED!