These days, companies are increasingly conscious of the importance of employee retention. Having employees stay and invest their time, knowledge, talents and creativity in an organization contributes to the stability of a company and ensures firms see a return on investment with the people they hire.
While many factors contribute to employee retention, one thing is clear: an employee’s engagement level and connection to the company’s culture play a huge role in whether or not they choose to invest in a long-term career at the company.
Our May webinar, Transforming Culture for Employee Retention, explored the relationship between employee engagement and employee retention. Lindsay, M. Smith, Michael S. Seaver, and Brian Stinson hosted the webinar, sharing valuable lessons for companies interested in creating cultural change for their organization. The trio discussed data from the azcentral.com Top Companies to Work For in Arizona in 2018 report and engaged webinar attendees through live polls.
Here’s a look at what you missed:
1. Biggest Employee Retention Challenge? – The Manager-Employee Relationship
During the webinar, we polled attendees to learn what they believe is their biggest employee retention challenge. The manager-employee relationship came out on top, with employee benefits, cultural fit, and career growth opportunities coming in a close second. Later on in the webinar, Michael Seaver shared about how having 1-on-1 employee meetings and talking about work-appropriate aspects of their personal lives can help build trust between managers and employees, and increase engagement.
2. Only About 1/3 of Employees are “Engaged,” or Happy At Work
Brian Stinson, co-founder and principal of the employee engagement consulting and coaching company The Peak Fleet, shared the findings of Gallup’s State of the American Workforce report. According to the report, right around one third of the American Workforce is happy at work and more than 15% is actively disengaged. Stinson highlighted that the actively disengaged employees are twice as likely to look for a new job.
Stinson connected the report’s findings to his personal journey and professional experiences, explaining how he came to be passionate about helping people find purpose and meaning work.
3. Companies Need Benchmarks
It’s one thing to want to do better when it comes to employee engagement. However, during the webinar, Michael Seaver emphasized the importance of setting benchmarks and recording current employee engagement numbers. He provided a number of ways to do this and shared ideas for companies to connect an employee’s personal mission to the organization’s mission.
4. Employees Have to Be Able to Say “I Feel I am Valued At This Organization”
Everyone wants to feel valued. Lindsay M. Smith shared why it’s important for employees to be able to say they feel valued at work, have made progress at work, and have confidence in the leadership of the organization. She unveiled insightful data from the 2018 Top Companies to Work for in Arizona award winners, unpacking the 10 key drivers of employee retention.
If you missed the webinar, you can watch it on our website. You can also listen to it on our podcast. Don’t forget to register for our upcoming webinars and reach out to us with your questions about employee retention!