As the economy improves, the commercial world is seeing a rapid increase in the number of people who are leaving their current employers in search of new jobs. The old adage of ‘you join a company and leave a manager’ appears to be more relevant now more now then it has been in recent history.
Why is this important now?
Many organisations and managers still believe that the best way to incentivise employees, and therefore the best way to improve employee retention is pay. However, there are 40 years of research that shows this is not the case and in many instances can have a detrimental effect.
Surveys from Gallup show that pay ranks as the fifth most popular reason for leaving a business. Other surveys show that only 2% of people decided on whether to stay in their job based on pay and it was those on minimum wage that this would impact the most.
What is the basis for the tool?
To be able to improve employee retention, managers and leaders need to be focused on helping employees feel aligned and engaged with the organisation. Employees’ need to:
- Understand the organisations purpose and the role that they have in delivering the purpose.
- Believe they can make a contribution to the success of the organisation
- See that their individual work and effort is recognised
Our practical approach to engagement, with tools based around our principles and ‘Employee Engagement PIP’ have been proven to help retain staff by reducing employee turnover by as much as 40%. The robust three-step approach based on our PIP is easy to implement and delivers a consistent message this through all layers of the organisation.
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