Companies are spending a fortune today recruiting and hiring the right employees. The problem is, unless you engage them, you will never retain them.
Inc Magazine says that seventy percent of employees today are disengaged and Forbes says that fifty percent of employees are either actively or passively looking for alternative employment. This equates to half a billion dollars lost in productivity each year in the United States alone.
Every employee you lose is costing you $100,000 or more to replace
Businesses today assume that people employees leaving is just a Millennial mentality issue, but this could not be farther from the truth. People leave because they do not feel listened to, understood or valued. They do not understand the mission, vision or values of the company, nor do they understand how their individual efforts matter.
Three factors affect this more than any other.
Onboarding, Ongoing Communication, and Leadership.
The biggest issue that causes employees to leave is ineffective onboarding. Onboarding is not a process to fill out paperwork and show someone where their desk is; it is rather a way to integrate the person into the culture and set them up for success.
Ongoing communication is vital to keep employees engaged. It lets them know what is happening within the company, successes and challenges faced internally and externally and what direction the company is heading.
Leadership is the third piece of the puzzle that is critical for success. Without leadership that inspires, mentors, motivates and teaches, employees under them will not understand what is important, what is not and will ultimately become disengaged.
Over the next few weeks, I will be writing on onboarding, ongoing communication and leadership to provide ways to enable you to engage, retain, and grow your employees.
Ben Baker wants to help you engage, retain, and grow your most valuable asset … your employees. He provides workshops and consulting to enable staff to understand, codify, and communicate their value effectively internally and externally and Retain Employees Through Leadership. The author of Powerful Personal Brands: A Hands-On Guide to Understanding Yours and the host of the IHEART Radio syndicated YourLIVINGBrand.live show, he writes extensively on leadership, brand, and internal communication strategy.
LinkedIn : yourbrandmarketing Twitter: @yourbrandmrktng
LinkedIn : yourbrandmarketing Twitter: @yourbrandmrktng
Ben's COMPLIMENTARY ONLINE COURSE is now available: “KNOW - LIKE – TRUST! How to Develop Your Personal Brand” CLICK HERE to access the course
This post first appeared on 4Cs Blog: Employee Surveys And More | Insightlink Communications, please read the originial post: here
