Are any of these issues on your agenda? Are they keeping you awake at night or would you simply like to get a bit better at them?
Engagement and talent retention are tipped to be among this year’s key people management issues, according to Josh Bersin (Redesigning the Organization for a Rapidly Changing World, January 2015). This resonates with us because, in the course of our work, we frequently hear the comment “we could do better with regard to engagement”
When we delve deeper, research on engagement reveals some startling statistics – actively disengaged employees outnumber engaged employees by 2 to 1 (State of the Global Workplace, Gallup, 2013).
A 2014 global survey of than 18,000 employees by LinkedIn indicates that for those people either actively or passively looking for alternative jobs, the top five most important reasons for considering a move:
- Opportunities for advancement
- Better compensation and benefits
- More challenging work
- A role that was a better fit for the skillset
- More learning opportunities.
When one overlays the gradual but inexorable demographic change and the cost of replacing staff, it reinforces the importance of retaining good people.
So, why aren’t organisations better at engaging their good talent? And by good talent, we don’t just mean the high performing-high potential stars in box 9 on the talent matrix, we’re including those in the ‘mighty middle’ who consistently deliver but may not have aspirations beyond their current type of job and may not make much fuss about their dissatisfaction.
Based on coaching individuals across a wide spectrum of roles and industries, we have observed some common themes that relate directly to engagement:
- The majority of people like receiving feedback for doing a good job.
- Capable individuals do not see a burgeoning in-tray of tasks or projects as development.
- Employees welcome the opportunity to discuss, explore and develop their careers.
- Organisations that differentiate talent are able to offer more satisfying development opportunities to key performers and high potentials.
Organisations that address these themes and take action to fix what needs fixing can turn around low workplace engagement in order to drive better business outcomes.
Whilst every organisation must address engagement and talent retention in the context of its workforce, culture and business conditions, there are best practices that apply to all organisations and we will focus on some of these in future blogs.