By Deb LaMere, VP of Employee Engagement, Ceridian
Employee engagement is a cornerstone of successful organizations. Numerous studies have shown that companies with higher levels of engagement benefit from higher retention rates and productivity. However, according to Dale Carnegie, only 29 percent of the U.S. workforce is engaged and almost just as many are actively disengaged.
It is a lot easier to understand and, therefore, improve employee engagement when you break it down into specific components. Some of the top drivers of engagement include work-life balance, strong communication from management, performance feedback, and career development and training. In fact, a 2014 Towers Watson Global Workforce study found that the two biggest factors that influence engagement are base pay and career advancement. Read more
Baby boomers are retiring at a relatively rapid rate, and as hiring heats up the focus is on millennials. Millennials surpassed Generation X as the most substantial demographic in the labor market during the first quarter of 2015, according to Pew Research Center. These young workers are a valuable resource and are eager to make their way in the workplace, but often they’re in need of assistance. Though fluent in technology and willing to grow professionally, millennials are also inexperienced. Just like any generational cohort entering the workforce for the first time, these young workers haven’t been around the block in terms of professional practice. Read more
Perhaps the most challenging thing about recruiting is that you’re constantly trying to appeal to a wide range of possible employees all at once. You can’t recruit everyone in the same way – it won’t work. The strategies that you use to pry a 52-year-old industry veteran away from his current job won’t be successful if you apply them to a 22-year-old rookie who’s fresh out of college. Different people have different needs. Read more
Studies have shown time and time again that it’s more efficient for companies to retain their current employees than recruit new ones. Recruiting is a tremendous drain on resources – it takes a lot of time and money to find candidates, interview them, hire them and then train them once they’re finally on board. The easier strategy is to keep your existing talent.
When it comes to retention, a lot of HR leaders fixate on money. The thinking is that many employees leave their jobs because they’re looking to “climb the ladder” and earn bigger paychecks, and if they can’t do that internally, they leave for more money elsewhere. This thinking is sometimes true, but it’s not always the case. Read more
Recently in the HCM community, there’s been a great deal of discussion about the value of internal mobility. What if, instead of instinctively looking outside their own companies to fill important positions, recruiters instead looked to promote from within more often?
In theory, this could have a couple of positive effects. For one, it would help motivate employees at all levels to work harder – if they knew they had a shot at a big promotion, they’d have a real incentive. Secondly, it would be logistically and financially easier for companies. It’s always difficult – and expensive – to hire a new employee rather than keep an existing one. Read more
There’s always a lot of talk circulating around the HR community about employee engagement, and with good reason. If you can drive engagement, you can also foster employee retention and productivity. You can build a workplace in which people stay in their jobs, remain focused feel engaged, and work hard.
It’s more complex than that, though. Achieving true excellence in HR is about more than just keeping people from quitting their jobs or having unproductive days. What you want as a talent leader is to help people learn, improve and truly thrive. Read more