Like many pieces of industry jargon, people have been throwing “engagement” around at management meetings for a while now. It was the great new buzzword a few years ago and now it has become part of the corporate lexicon. But what does it really mean? Here’s one definition from the Conference Board's 2008 review of employee engagement:
"Employee engagement is a heightened emotional connection that an employee feels for his or her organization and that influences him or her to exert greater discretionary effort to his or her work."
It's the personal connection that you feel towards your work and the organization that supports it. The level to which your people feel strongly connected to the success of your company is a great indicator of their happiness with their jobs. Engaged employees communicate openly, help willingly, and have the best interests of the organization in mind.
Sounds great, right? So how do we get to this magic state of mind? Towers Perrin listed the top 10 drivers of employee engagement from their 2007/2008 survey:
This is a great starting point for developing a longer term strategy to retain your best people. Fostering an
engaging work environment means focusing on these 10 factors, and the good news is that many of them are inexpensive or even free.
First let’s recognize that the factors above can be grouped into a few broad categories:
any organization to foster these goals.
Employee turnover costs an average of 30-45% of salary. Recruiting a new team member, losing efficiency during the ramp up period and re-establishing relationships with customers, vendors and team members
are all part of the fallout of high turnover. Fostering engagement as a retention strategy can help you substantially lower both the hard and soft costs of this challenge. For more tips and strategies on retaining
high performers, please join me on April 28th for a free webinar!