Soar to Success July 2016

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By Cindy Allen Stuckey
What would happen to your
business if a third of your
employees walked off the job—
tomorrow? That would definitely
cripple your business, wouldn’t it?!
Have you ever had a key
employee announce his
resignation with little warning?
With the improving economy,
37% of all employees hope to
leave their job within the next 3
months. Employee turnover is
staggering to the economy—it
costs businesses in the U.S. $11
billion/year.
Insteadof filling the leakybucket,
companies are now focusing
their efforts on reducing
employee turnover and on
retaining their high quality
employees, especially those
that are new to the company,
by “engaging” their employees
more. Engaged employees are
defined as those employees
who are involved in, enthusiastic
about, and committed to their
work and workplace.
In a 2014 engagement survey
of 80,000 employed adults, the
company Gallup found that:
• 31.5% of U.S. workers were
“engaged”
• 51% were “not engaged”
• 17.5% were “actively
disengaged”
• Younger workers are least
engaged—only 28.9% of
millennials were “engaged”
The business results of higher
engagement are amazing.
Businesses with higher
engagement have:
• Better financial
performance
• Higher customer
satisfaction
• Higher retention
• Higher productivity
Here are 7 best practices
that you can implement at
your business immediately,
to ensure that your people
are involved in, enthusiastic
about, and committed to
their work and workplace:
Create a common hiring
process and follow it every
time—this includes clarifying
and defining what is valued in
your culture.
Focus on engagement,
not just communication.
From themoment a job offer has
been extended, the onboarding,
engagement, and relationship
process begins.
Make sure there are
seamless transitions in the
employee life cycle—recruiting,
selection, performance, succession,
and development—so that all
employees know what is expected.
Connect your employees’
goals to your company
goals. Have regular one-on-ones
and trainings with expectations
outlined to help set the stage
for learning, growing, and
developing.
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Business Owners-Engage
and Retain Your Employees
SOAR TO SUCCESS / July 2016 / Core Business Strategy