Employee Retention
A recent Forbes Magazine workplace survey suggests that 87% of employees are not actively engaged in their jobs. The survey showed that:
- 13% are actively engaged and drive innovation. They work with passion, feel connected to their company and move the organization forward.
- 63% have checked out and are not engaged. They sleepwalk through their workday.
- 24% are actively disengaged. They undermine what their engaged coworkers accomplish.
These astounding findings are also indicative of high staff turnover in many organizations. The actively disengaged employees outnumber the actively engaged employees by two to one. Yet in world-class organizations, it is the exact opposite. Companies with engaged employees see 240% improvement in business results.1 In view of these findings, the goal of every manager and leader should be to ensure engagement of their employees.
Engagement and retention begin even before new staff begin to work for you. The foundation for achieving the highest return on human capital begins at hiring. Enhanced recruitment and onboarding sets the tone, influences the culture of your workplace and strongly impacts levels of engagement.
The first step is to ensure that the right person is hired for the right job. The use of assessment tools is one important step in the process. There are a variety of tools that are very helpful in assessing individual talents and motivators.
The Talent Insights assessment is one such tool. It effortlessly integrates the behaviors individuals bring to the job and the motivators that drive them. This simple, yet sophisticated report is ideal for the recruitment and retention of people at all levels. It also provides valuable insights into communication styles, personal interaction and behavioral preferences. It is also an effective tool for enhancing synergy and mutual understanding within existing teams.
However, assessments are only one-third of the recruitment process. A comprehensive interview process is the next step. It is important to plan the first interview carefully to ensure that questions address key aspects of interpersonal skills as well as the job requirements. If the first interview is positive, it’s time to check the references.
It is amazing how many employers fail to follow up with references. It is important that you talk to people who really know and have worked with your job candidate. Ensure that you speak with former employers and not just with friends. If the references are positive, you are ready for a second interview.
Having a second meeting in which you delve more deeply into any areas of concern or explore more intensely any areas that appeared of special interest or potential can often confirm or negate initial impressions. The second interview also allows you to explore any subject areas of your discussion with references that indicate a need for further dialogue.
If the candidate still looks like a good potential employee, a third meeting at a different location, perhaps a lunch meeting, is often when true characteristics are revealed. At a third meeting, the job candidate will feel much more relaxed and will be significantly more candid. This is often where positive earlier impressions are confirmed, or where hidden prejudices or attitudes are revealed. This meeting can make all the difference.
The hiring process as outlined may seem lengthy and costly. The thoroughness and level of investment in effective hiring will certainly depend on the level and complexity of the job you need to fill. However, it is important to remember that turnover is costly and even one bad apple can spoil the barrel.
In part two coming next issue, we’ll discuss focusing on engagement and retention as the carefully selected new employee becomes part of your team.