Are your employees packing their bags? The truth may surprise you.
Do you know how to make sure your employees feel engaged and satisfied in their work? Are you offering a path to keep them engaged? You might be letting their untapped talent slip between your fingers. In a shallow talent pool (read our blog called Finding Dory – Tips for Recruitment in a Shallow Market), this is a problem most companies simply can’t afford. Disengaged employees cost the U.S. anywhere from $483 billion to $695 billion in lost productivity on a yearly basis. Following are some key findings highlighted in a recent Gallup State of the American Workforce report:
- In 2012 an average of 19% believed it was a good time to find a quality job. By 2016 the percentage rose to 42%.
- From 2012 to 2015 the number of Americans voluntarily leaving their employment increased from 2.1 million to 3.1 million. In 2016, the number continued to hover around 3 million.
- Only 33% of employees in the U.S. feel engaged in their job.
- 50% are actively looking or watching for other openings.
During and immediately after the Great Recession, many Americans were pessimistic about job opportunities. That has now changed and workers are much more optimistic about their job options. This is a challenge for employers hoping to retain quality employees because optimism towards job search leads to rising numbers of employees voluntarily leaving their positions in search of greener pastures.
Employees leave companies when they feel a role doesn’t meet their needs or expectations, or feel they are not able to engage their unique skillset. Paradoxically, the longer workers stay at a job, the more likely they are to strongly agree they have opportunities to do what they do best everyday. The unfortunate truth is that employees are leaving organizations before they find the right opportunity to reach their full potential. This is an alarming, not to mention expensive, trend.
Well placed and engaged employees are more productive and happier with their career, which makes them more likely to stay with their employer. The Gallup report found the behaviors below to be key to engaging your employees and keeping them motivated to succeed at your company:
- Listen – Giving employees feedback is important for them to gauge performance and, encouraging feedback from employees, leads to learning about their needs and increasing workforce satisfaction and productivity.
- Positive feedback – People become more ambitious and committed when they are personally invested, and feel their contribution matters.
- Trust – Empower your employees by trusting their talents and ability.
- Mentor – Offer resources to help your employees grow and succeed.
- Build a community – Create environments that encourage collaboration and innovation.
A record 47% of the workforce believes now is a good time to find a quality job, and 51% are searching for new jobs or watching for openings. Don’t be caught unaware. Meet your goals. Ensure your employees are satisfied and not “On the Road Again”.
The Gallup State of the American Workforce report, over 200 pages in length, was created to help leaders understand various aspects of the modern workforce and pinpoint the issues that matter most in attracting, retaining and engaging employees. Over the upcoming weeks, we will summarize more of the findings from this extensive research on the modern workforce. We also encourage Health Technology executives to take a look at our 2017 Talent Outlook for additional research on finding quality talent.
To learn more about opportunities in the health technology field, or to hear how other companies have partnered with Talencio to tap into our skilled professional talent pool, contact us at 612.703.4236 or email. Talencio has been the preferred provider of vetted, accomplished professionals to the Health Technology Community for over 9 years.