While turnover is expensive, it is arguably inevitable in an age of the gig economy. Motivated employees are undeniably more diligent and produce better results than their disengaged counterparts, who either leave quickly or drain valuable resources by staying too long.
“Always treat your employees exactly as you want them to treat your best customers.” - Stephen R. Covey
Managers, especially those working with millennials, have obviously been observing that there is a drop in their retention rate, and that the younger employees come and go with increasing frequency - and the issue of high churn certainly overlaps with the global decline in employee engagement. And, an exit interview can hardly be the right manner to diagnose the problem, since the employee is already a step too far away from the door. While turnover is expensive, it is arguably inevitable in an age of the gig economy. Motivated employees are undeniably more diligent and produce better results than their disengaged counterparts, who either leave quickly or drain valuable resources by staying too long.
However, these positive traits will not translate to a ten-year tenure. And, instead of obsessing over staff longevity - or worse, implementing punitive measures - a company's overall focus should instead be on driving engagement in order to strengthen their employer brand and continue attracting fresh talent. This means creating a work culture that is collaborative, result-driven and empathetic; one that imbues staff with a sense of belonging and inspires them to help achieve a shared vision, thereby enhancing employee retention. That said, measuring employee happiness is a complex and subjective affair, and it takes efforts and tools to calibrate and break down an abstract emotion into tangible, objective results.
Employee Surveys: A thing of the past
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Denne historien er fra October 2017-utgaven av Human Capital.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
