Increasing employee engagement requires decreasing turnover. Yet according to ongoing studies, most employees are already halfway out the door.
This is covered in a Refresh Leadership blog post. They write:
Are your employees actively engaged in their jobs? If data from a recent CareerBuilder study is any indication, there’s a good chance they’re not. The survey of employees across multiple industries in both the U.S. and Canada showed that 69% percent of full-time workers “regularly search for new job opportunities” and 53% say “they feel like they just have a job, not a career.” A 2011 study by Towers Watson touched on a similar trend and found that of the workers who participated in the study, 74% didn’t believe they had long-term opportunities, 80% weren’t satisfied with their recognition, and 66% said management didn’t do a good job of communicating – all major contributors of employee disengagement.
This is one of those pieces of information that shouldn’t be a surprise to most people in business. Consultants have been saying for years that we need to create more engagement, more meaningful work experiences. Yet even in a down economy, most people are frustrated at work and looking for something else. How could this be the case?
The truth is that the problem has many facets. To address employee engagement concerns, the Refresh Leadership article covers three areas:
Recognition refers to the idea that one of the best ways to engage employees is simply to acknowledge their contribution. While this may seem like it’s not an efficient business practice, in reality we are creatures that are driven by appreciation. We like to know that what are doing matters, and one of the best ways to retain employees is simply to recognize their work.
Career Pathing is the conscious effort to help employees design a genuine professional route through the company and the industry. It’s more than just the words “opportunity for advancement” listed on a job posting. Instead, it means that people in the organization spend time helping you to learn new skills, find new ways to contribute, and take on new responsibilities over time.
Compensation and Rewards are the final component of true employee engagement. Although people don’t work because they are rewarded, it’s nonetheless essential for everyone to feel like they are being supported financially and practically by the institution. Ultimately though, compensation is about respect more than money. The most engaged employees are not those who are paid the most, but who feel the most connected to the work overall.
What do you think? Is your disengaged workforce walking out the door?