Are We Engaged?
Actually the more important question is how engaged are your employees? A recent survey (based on 19,700 responses) showed that 88% of American employees have considered leaving their organizations for reasons besides pay. Despite what HR may hear during exit interviews, the truth is very few employees leave specifically for pay (even though they often get raises in the process).
According to Leigh Branham, author of “The 7 Hidden Reasons Employees Leave”, there are seven reasons that employees disengage from your company and start looking elsewhere. As you look at this list, think about which are most likely to impact your workforce.
- The job or workplace didn’t meet the employees’ expectations. One solution to this problem is a realistic job preview prior to making the final hiring decision.
- There is a mismatch between the job and the person. There can be a disconnect in terms of skills or interests as well as an ability to fit into the team or culture. Better selection systems can address this issue.
- Too little coaching or feedback. This issue is especially prevalent among companies with Generation Y employees who expect (and demand) frequent and personalized feedback. Regular feedback benefits others too, whether they request it or not.
- Too few growth or advancement opportunities. While the expectation for vertical promotion may have decreased, there is a high level of interest among younger workers for frequent job changes to avoid boredom and to expand their skill set.
- Feeling devalued and/ or unrecognized. This applies to all generations in the workforce…a little appreciation goes a long way. It’s important to be recognized for making a contribution.
- Stress from overwork and work-life imbalance. Employees aren’t willing to sacrifice their personal lives for 50-60 hour work weeks like they did in decades past. They expect some balance and may take pay cuts to get it.
- Lack of trust or confidence in senior management. When employees don’t trust senior management or feel they are committed to employee well-being, they are less likely to exert their best effort.
In many cases, managers attribute turnover to external causes (rather than considering the role they may have played in the decision to leave). The survey results, and our years of experience, show that the reasons are often internal and can be turned around with some time and effort.
They key is to identify the source of the problem and create an action plan to resolve it. Often the solution requires participation from the employees and the managers since both are contributing to the underlying issue. By working together collaboratively, morale and productivity can be improved. This is why companies that are listed on the Fortune Magazine list of “Best companies to Work For” show a 133% growth versus the 25% growth for companies in the S&P 500. Employee satisfaction and engagement directly impact the bottom line.
If you’re interested in increasing morale, employee engagement, and performance in your organization, please contact Kammy Haynes.
For a PDF version of this newsletter, please click here. If you are unable to read pdf files, download the free Adobe Reader program.