Employee Engagement Ideas

Employee Engagement Ideas

Hi my name is Sheryl Wolowyk, owner of myHRpro, and in this human resources video I’m going to show you the high cost of employee turnover and what you can do to increase employee retention and employee engagement.

 

There is no doubt about it – staff turnover is costly. Estimates vary on what it costs to lose an employee with some placing the figure as high as 2.5 times annual salary! Recent research by Dr. Beverly Kaye and Sharon Jordan-Evans, have found that the cost of replacing lost talent is 70 to 200 percent of that employee’s annual salary.

 

This calculation does not begin to include the intangible costs of employee turnover such as increased accident rates, productivity losses, training costs, customer impact, and the lemming effect (workers deciding to leave the organizations because others have left). These costs are even higher than the tangible costs!

 

For a sample Cost Calculation Worksheet for employee turnover visit our website at www.myhrpro.com.

 

One approach to reduce employee turnover is to increase employee engagement. Engagement is the state in which individuals are emotionally and intellectually committed to the organization. It includes the extent to which employees put discretionary effort into their work in the form of brainpower, extra time, and energy.

 

Engaged workers are critical to organization’s success and to the achievement of goals.

 

Staff with high levels of employee engagement, are more likely to be loyal, to stay with the organization, to act as ambassadors for the organization and to be productive and contribute. Unfortunately, recent research indicates that many employees are no longer actively engaged. Here is a summary of some of the recent research.

 

  • Gallup – Engaged Workers (Loyal and Productive): 24%
    • Not Engaged: (Just putting in time): 60%
    • Actively Disengaged Employees: (Unhappy and spreading discontent): 16%
  • Towers Perrin – 1/3 of workers are intensely negative.
  • Conference Board of Canada – Talent is mobile, and fully 58 % of Canadian employees are now open to moving to other organizations.”
  • Globe and Mail – “Employees have never worked harder or faster. 28% are looking for new work and 25% of the unhappy plan to remain with their current employer.”

 

The impact of disengagement in the workplace is far-reaching and serious. From a financial perspective, the cost of disengagement to the Canadian economy is estimated to be $27.7 billion annually. Although staff turnover is costly for an organization, retaining disengaged employees is often very costly as well and negatively impacts organizational culture as well as inhibits the success of the organization. Management would be wise to watch for signs of disengagement and be proactive in steaming its pervasiveness. For a list of disengaged employee characteristics visit our website at www.myhrpro.com