We cannot predict what the future will bring; however, as HR professionals we are positioned to help our organizations create its future. Although lay-offs may be unavoidable, do not lose sight of the long term. Keep your organization’s leaders focused on recovery by engaging and retaining your top talent employees. Studies reveal that organizations with highly engaged employees:
• 42% are more likely to survive over a five-year period.
• Generate 44% more profit.
• Productivity is 70% higher.
• Customer satisfaction is 86% higher.
• Avoidable turnover is reduced by 75%.
High performing employees are seeking organizations that demonstrate a shared vision, leadership, accountability,collaboration and corporate citizenship. Some key factors for recruiting and retaining top employees:
• #1 with employees is respect.
• Goal Management Process – How do established goals relate to company strategy?
• Performance Reviews – Are they meaningful and effective?
• Praise employee efforts.
• Reward Results – Consider developing a non-monetary rewards system.
Engaged employees are fully involved and enthusiastic about their work. They will behave in a manner that will further your organization’s business interests. The formula is simple …
Skills + Abilities x Motivation = Performance Getting there is not always that easy. Employees cannot be engaged if the corporate culture is not compatible with their personal values. Remember – employees do not leave their organization, they leave their direct supervisor. Improve the quality of your managers. Effective managers will make a difference in retention, productivity and profits. Even in these challenging times when we are doing more with less, make sure that your employees still have a workload in alignment with their talents and temperaments. High performing employees equate to greater shareholder value. Studies show that value can be as much as 50% greater than book value. Organizations that fail to adapt face significant risks in their ability to remain competitive and profitable. HR’s strategic role encompasses: Facilitating the Strategy, Managing Expectations, Coaching, and are Architects and Facilitators of the Change. Evaluate key practices, such as engagement levels, shared mindset, customer image in relation to their impact on your organization’s strategy. Get your organization’s leaders to focus on recovery, too.
By Lori S. Goldsmith, SPHR
HR & Client Relations Manager, Tomlin Tested Staffing
www.tomlinstaffing.com
twitter: HeartofHR
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