Recent News Articles
Employee engagement and employee retention are tightly connected and highly inter-dependent. It stands to reason that if your workforce is highly engaged, your employees are more likely to stay and be committed to organizational success. Likewise, if you do the things that foster employee retention, you are likely to experience a more engaged workforce.
Employee Retention Defined
On the other hand, employee retention is an effort by a business to maintain a working environment which supports current staff in remaining with the company. Employee retention practices are aimed at addressing the various needs of employees to enhance their job satisfaction and reduce the substantial costs involved in hiring and training new staff.
For HR leaders it is essential to understand and strengthen the linkage between employee engagement and employee retention and to recognize the fundamental elements that support and foster an engaged workplace. Additionally, it is critical that HR leaders can identify the root causes of turnover.
One key role HR traditionally plays relates to managing employee turnover. The key to addressing turnover issues is to focus on the things that you can control. Do not fall into the trap by believing that paying people more money will solve your turnover problems. Research indicates that money is not likely to be the primary driver of turnover. If you have root cause is not related to compensation, throwing money at the problem will not have a long-term impact.
Why it Matters
Gallup research (2012) found that employee engagement affects several performance outcomes. Compared with companies with lower engagement scores, companies with a more engaged workforce have:
An entire module of Learn and GO is dedicated to understanding how to improve employee engagement and retention. You'll find helpful guidance and ready-to-use templates.
Also, for a deeper dive into the subject, plan on attending our Engagement and Retention webinar on August 27th from 10am-11am. HRCI and SHRM credits will be provided to those who attend.
You may also view the recent Engagement and Retention: Webinar.
And as always call me if you want to discuss how to improve retention and/or engagement at your organization. I can be reached directly at (919) 325-4113.