Employee engagement and retention are strategic priorities for 77% of US organizations, yet budgets remain static, presenting a challenge for many organizations.
WINTER PARK, Fla. (PRWEB) April 17, 2018
TalentKeepers today announced the release of Workplace America, its 14th annual report of employee engagement and retention trends--now the longest continuously running study of engagement and retention in the United States. Over 600 organizations participated for 2018, with 43% employing over 1,000 employees.
The report begins with good news: employee engagement continues to be respected as a key strategy for many organizations. For five years running, over 77% of US employers rank employee engagement as a strategic priority. Yet that respect is not universally translated into dollars, with only 54% of organizations budgeting for engagement efforts. Lack of budget support could be tied to the failure of many organizations to determine the cost of replacing a well-performing employee, which only 25% have done.
Also notable this year: a record-high 73% of organizations report using engagement surveys. But not all are making the best use of these data. Just 45% of organizations are linking engagement metrics to performance metrics, a fundamental method of gaining operational and senior leadership support for engagement initiatives.
Early-tenure-turnover--employees who depart within the first 12 months--has increased a dramatic 35% in the last five years, from 52% in 2013 to 70% in 2018. Seventy-three percent of organizations hold talent acquisition and onboarding responsible. "This puts tremendous pressure on the organizations' recruiting, selection, onboarding, and training departments," said Christopher Mulligan, TalentKeepers CEO and author of the report.
Operational leaders remain key factors in driving engagement, Mulligan said. "Leaders are the lens through which employees see the organization. Organizations should leverage this by measuring which leaders are effectively engaging employees, training leaders in engagement skills and holding them accountable as with any other business metric."
In Workplace America, 43% of organizations report measuring leaders' effectiveness in engaging their employees. Unfortunately, just 36% of organizations develop leaders to engage their teams, while a dismal 21% hold leaders accountable for engagement.
From 2011 to 2018, "Job and Career" issues, specifically a lack of career growth opportunities, have fueled unmanaged attrition. A strong economy with record-low unemployment has enabled many employees to adopt a "grow or go" approach. Also notable: "Leadership" issues have been steadily growing for the past six years as a stimulus for turnover. These trends should motivate organizations to leverage leaders by having them discuss career growth aspirations with their employees.
Contact press(at)talentkeepers(dot)com to receive a copy of the full report.
TalentKeepers® is celebrating 18 years of providing award-winning employee engagement and retention solutions to help companies around the globe increase their performance. We're a recognized leader in innovative onboarding tools, employee engagement surveys that drive growth and accountability, HRCI and SHRM certified training for HR professionals, unique eLearning leadership programs, teambuilding tools and much more. Twice we have won HR Executive Magazine's Product of the Year award. Re-energize your efforts and expect more from your engagement and retention partner. Contact us today at solutions(at)talentkeepers(dot)com