Lost Employees are Costing You
The Work Institute issued its findings into a one-of-a-kind report into employee retention last year, and the results are probably not that surprising to HR professionals across America. They estimate that almost one in four employees are leaving their jobs.
It is generally understood in business management that lower employee turnover rates yield more profit. There are situations, however, when a business may have an intentional high employee turnover rate.
Low turnover rates fall in the category of good business practices. It is a reassurance that the employees hired value the company they are working for. And if KPIs are being met, the company knows they have a valuable employee and do not need to spend money on replacing and training a replacement.
Internal communication is the lifeblood of your business. It doesn’t matter how well you set up processes and procedures, if your employees do not feel secure enough to communicate to fellow colleagues and management, work will not be efficient. Problems will not be addressed properly, innovation will be stagnant, and your customers will not be served well.
High Employee Turnover: Quality Employee Onboarding Reduces Quick Exits
Employee onboarding is one of the most important factors helping new recruits get adjusted to the way of working in an organization. It is also one of the first things an organization can do to ensure improvement in high employee turnover.
For corporations employing corporate volunteering as a way to increase employee alignment through engagement, it is important to be able to track volunteering performance.
How does one determine the program’s effectiveness and discover which employees have succeeded in unlocking their full potential? To help you end this dilemma, here are three key characteristics to look for in order to gain accurate results.
Organizations that develop their company culture through corporate citizenship programs, such as running a corporate volunteering program, experience a visible increase in employee alignment through engagement. Running these types of programs creates a connection between staff and the business that transcends paychecks and bottom lines. They can unite employees to the company’s mission and help them feel pride in where they work. There is also an added element of being able to develop staff for leadership roles outside their normal job constraints.
What IS employee engagement? It's a common problem that companies have with employees who are not engaged and not challenged adequately with their tasks is having difficulties in retaining them long term. On a smaller scale, issues like lack of enthusiasm usually lead to less productivity and a decrease in the quality of their work.
Are you organizing a corporate volunteering program? Selecting someone to lead the program is likely on your To-Do list! This is a terrific opportunity for someone in your organization to develop crucial skills that will help them further their career. Consider selecting a promising executive as your leader as it will give them a safe place to develop managerial skills.
Your first step in the process of choosing a leader should be to draft a position description to spell out the expectations. Include specific duties, time expected, and qualifications required just as you would for salaried positions in your company. Do not select someone as a leader of your program that does not meet the requirements you spell out.