5 Reasons why your Employee Engagement may be spiralling down
“Always treat your employees exactly as you want them to treat your best customers.”
— STEPHEN R. COVEY
Do you have a high employee turnover rate?
Are you facing a difficulty in figuring out what to do about it?
If you thought of ‘yes’ to both of these questions, this article is for you.
If you want your employees to stay, you need to give them a reason.
You hire employees at the rate of 10 per month but lose them at the rate of 12 per month. All new ones leave within the first two weeks, including two of the older employees.
The very next month, you hire 20 employees and the cycle continues.
Disengaged employees cost organisations between $450 and $550 billion annually, according to The Engagement Institute.
This needs to stop and here’s how you can do it.
Before I dive into the reasons for your company’s downward sloping employee engagement rate, I need you to ask yourself these questions:
- Do you offer your help to your team?
- Do you ask for their advice before taking any major decision?
- Have you ever asked your team for guidance on your leadership style?
- How far has your team progressed in achieving their goals?
If the answers to one or more of the above questions are negative, don’t panic! There are many companies that face a difficulty when it comes to retaining their employees.
In fact, according to Globoforce, an estimated 36% of the businesses find employee engagement as a top challenge.
Over the years, we have gathered enough data from our employees and I bring you these few gems of information that I believe will help your business grow.
Let’s get started!
The gist of the matter is this:
To keep the employee engagement rates stable or always going up, you as a business owner, need to take to care of five major things.
1. Ignoring causes and criticising effects | Focus on WHY, not the WHAT.
Figure out why your employees may be underperforming.
It could be a personal or work-related issue. Try to help them.
2. Dragging and ineffective surveys | Plan out and optimise your feedback process.
No one likes to spend hours filling out a survey with 100 questions on it.
Be fair and keep them short and relevant.
3. Focus on actions instead of feelings | Perks are temporary, inner drive is not.
Giving your employees perks will make them happy temporarily.
Make sure they are achieving personal and professional goals as well.
4. Lack of Training and Development | Invest today, reap benefits tomorrow.
Train your employees. Help them grow with the company.
Stagnant employee development will greatly hinder the company’s growth.
5. Non-existent or rare employee recognition | Acknowledge employees’ efforts.
Employees work better when they know they are cared for and appreciated.
Even a ‘Thank You’ goes a long way.
That’s pretty much it!
Feel free to apply these tips to your business and see the employee engagement rates go up in record time!
Team’s productivity and company’s revenues are bound to see a rise too.