How do you measure and improve employee engagement and retention?
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Before you can measure and improve employee engagement and retention, you need to define what they mean for your organization. Engagement is the degree to which employees feel connected, motivated, and valued by their work and employer. Retention is the ability to keep employees from leaving the organization voluntarily or involuntarily. Both engagement and retention are influenced by various factors, such as organizational culture, leadership, compensation, recognition, feedback, development, and work-life balance.
To measure employee engagement and retention, you need to choose the right metrics and methods that align with your definition and goals. Some of the common metrics for engagement are employee satisfaction, net promoter score, employee advocacy, and discretionary effort. Some of the common metrics for retention are turnover rate, retention rate, tenure, and exit interviews. You can use different methods to collect and analyze these metrics, such as surveys, focus groups, interviews, performance reviews, and analytics.
Once you have measured employee engagement and retention, you need to communicate and act on the results. You need to share the findings and insights with your employees, managers, and leaders, and solicit their feedback and suggestions. You also need to identify the strengths and weaknesses of your current talent management culture, and prioritize the areas that need improvement. You need to set clear and realistic goals and action plans, and assign roles and responsibilities for implementing them.
To improve employee engagement and retention, you need to implement effective and tailored strategies that address the needs and preferences of your employees. Some of the common strategies for engagement are providing meaningful and challenging work, offering recognition and rewards, fostering collaboration and communication, supporting learning and growth, and enhancing well-being and flexibility. Some of the common strategies for retention are offering competitive and fair compensation, creating career paths and opportunities, providing feedback and coaching, and building trust and loyalty.
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Employee want to work for a company that cares about them. One way organizations can demonstrate that caring is by implementing and Ombuds program for employees. An Ombuds program indicates that the company is open to feedback and wants to hear about employee voices. Ombuds also provides a safe, confidential neutral space for employees to share their concerns or questions and get guidance, which frees up HR. Ombuds share anonymized insights that assist company leaders to make better informed decisions that increase employee engagement, retention and satisfaction. Every dollar invested in an Ombuds program returns $22 in saving!
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As an organization, a strong retention strategy is vital for our success and growth. Here are five key reasons why I feel it is important: 1. Retention strategy boosts stability 2. Cost-effective approach 3. Enhanced productivity 4. Positive company culture 5. Reputation and employer branding
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Ensure that teams are designed/built with the end product in mind; the end product being a cohesive team of diverse but complimentary skill sets and personalities. Then facilitate personal growth by encouraging every member of that team to play to their unique strengths and passions. This will build individual confidence, trust between team members and enhance productivity. When people feel like a valuable member of a successful team, they are more likely to remain loyal to that team.
To ensure that your engagement and retention strategies are working, you need to monitor and evaluate the impact of your actions. You need to track and measure the changes in your metrics and methods over time, and compare them with your goals and benchmarks. You also need to gather feedback and testimonials from your employees, managers, and leaders, and assess their satisfaction and commitment. You need to celebrate the successes and achievements, and address the challenges and gaps.
To sustain employee engagement and retention, you need to adapt and innovate continuously. You need to keep up with the changing needs and expectations of your employees, as well as the external trends and opportunities. You need to review and update your definition, metrics, methods, strategies, and goals regularly, and involve your employees in the process. You need to foster a culture of continuous learning and improvement, and encourage creativity and experimentation.
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Pull together a provocative group of colleagues with whom you can engage in regular discussions about many topics and put employee engagement on the list…….connect bi-weekly for an hour to share new strategies, ideas, and approaches on engagement as the job market continues to shift. Remember we all carry our personal backpack. It carries their history, their problems, their dreams, and their stresses. It is imperative that we as leaders, support managers to know their employees – those relationships can make or break the employment relationship. Knowing their employees means they have regular conversations about what is going on in the world, in the city or town and in their lives.
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