Unlocking the Secrets of Employee Engagement
After decades of corporate discourse about the war for talent, it appears that the battle is over, and talent has won. Employees today tend to have increased bargaining power, the job market is highly transparent, and attracting top-skilled workers is a highly competitive activity. Many companies are now investing in analytics tools to help figure out why people leave, and the topics of purpose, engagement, and culture seem to weigh on the minds of business leaders everywhere.
Recent research conducted by Bersin by Deloitte suggests that the issues of “retention and engagement” have risen to the number-two spot in the minds of many business leaders, second only to the challenge of building global leadership.1 Those concerns are grounded in disconcerting data:
- Gallup’s 2014 research shows that only 13 percent of employees surveyed are “highly engaged,” and 26 percent are “actively disengaged.”2
- Glassdoor, a company that allows employees to rate their employers, reports that only 54 percent of employees using its site recommend their company as a place to work.3
- In the high-technology industry, two-thirds of all workers surveyed believe they could find a better job in less than 60 days if they only took the time to look.4
- Eighty percent of respondent organizations believe their employees are overwhelmed with information and activity at work (21 percent cite the issue as urgent), yet fewer than 8 percent have programs to deal with the issue.5
- More than 70 percent of Millennials surveyed expect their employers to focus on societal or mission-driven problems; 70 percent want to be creative at work; and more than two-thirds believe it is management’s job to provide them with accelerated development opportunities in order for them to stay.6
In short, in many cases, the balance of power has shifted from employer to employee, pushing business leaders to learn how to build an organization that engages employees as sensitive, passionate, creative contributors. The shift taking place is moving from improving employee engagement to a focus on building an irresistible organization. In this issue of CFO Insights, we’ll discuss how the traditional employee-work contract has changed and why companies should embrace the shift needed to become irresistible.
See full article from Deloitte >>>
Posted on Wed, September 21, 2016
by Kurt McDowell filed under