New Year, Same Forecast.
- On 14th January 2016
New Year, Same Forecast. How will you improve employee retention in 2016?
The New Year often brings with it a tide of well-meaning resolutions for new starts, which can invariably mean losing valued members of your team to new pastures.
According to recent research published by the Institute of Leadership and Management*, as many as 32% of employees say they want to leave their job in 2016, with the biggest reason cited being poor future prospects.
Whilst the solution may not be as new as the year, numerous discussions and case studies have shown that the more engaged an employee is, the better their performance is likely to be, and the less likely they are to leave.
Staff disengagement has a significant financial implication in terms of lost productivity and the cost of recruitment and training, as well as a disruptive impact on operational performance and team motivation.
The Department for Business Innovation and Skills recently calculated that disengaged employees cost the UK economy between £59.4 and £64.7 billion.
So how can an organisation keep its workforce engaged and ensure it retains and nurtures its top talent?
- By understanding the factors that underpin positive employee engagement an organisation can start to plan for improvement and change. In her article How To Boost Employee Engagement, Eloise Allen of Thales Learning and Development has suggested that these factors can probably be best summarised as:
- Clarity of role, expectations and responsibilities
- An understanding of accountability
- A sense of purpose
- Feeling valued
- Open communication and organisational awareness
Eloise goes on to highlight how an employee engagement strategy should be applied from the top down, with senior managers leading by example and setting out organisational vision and line managers focusing on empowering staff. Also the importance of recognising achievement and the value of employee engagement surveys.
- Performance management practices should establish a shared understanding of common and specific goals and objectives, whilst helping to understand leadership and people development needs. An effective performance management strategy should touch each of the highlighted employee engagement criteria, whist providing a basis for ongoing individual, team and organisational improvement.
- The development of Leaders and Managers is critical to the wellbeing of any business, ensuring the creation of a productive, engaged, high-performing workforce. This applies from team leader level right up to senior management and even board members.
We can help you address each of these areas with our innovative learning solutions, blending all forms of training – workshops, classrooms, simulation, e-learning and more – into the most effective system for you.
We work closely with organisations to build programmes that meet the specific needs of individuals, as well as broader business requirements, including the delivery and support of professional qualifications or bespoke development programmes at all levels.
Our Learning & Development Management platform can help you define training needs for all your people. It enables you to identify appropriate training solutions to fill gaps and develop competency; then also to track completion and evaluate effectiveness.
The platform also gives you easy to access to a wide range of course suites that you can build into your training plans for each individual alongside other training options. Online training programmes include: Leadership and Management, Performance and Coaching, Business Skills, Customer Service and Relationship Management, Workplace Legislation and Regulatory Compliance and a lot more.
To find out how eAlliance can improve the effectiveness of your L&D operations this year, and deliver sustainable business growth within your organisation, register now for a FREE PERFORMANCE HEALTH CHECK.
Get in touch with our expert team on 01787 370735, or email us: mailto:email@example.com