Let’s talk about employee turnover. What does it really cost your business? A recent Business 2 Community article reported, “In real terms, it’s somewhere around 150% of an employee’s salary. In terrifying terms, consistent turnover snowballs into perpetual disengagement. Toxic environments can shutter a business.”
The best time to start addressing employee engagement is… yesterday, actually. If your company has significant hiring plans, you can’t afford to implement an engagement strategy next year. Companies have an opportunity to engage employees on their very first day. How can it be done?
- Align individual goals to the company’s mission, vision and values: Managers should work with new employees create agile goals that are both adaptable and challenging. Today’s workforce doesn’t want top-down, cascading objectives set at the beginning of the year. Empower your employees to set and track goal progress in real-time.
- Make goal–driven performance the priority, not a stacked ranking: The goal-setting exercise that takes place in the first few days on the job sets the tone for the rest of the year. Managers can give on-the-spot coaching and feedback as the year progresses, so employees stop worrying about annual performance reviews.
- Encourage a collaborative company culture: Show new employees that continuous, real-time recognition is the norm. Employee engagement solutions can get them acquainted with your company culture even more quickly through mobile and social capabilities.
As you can see, engagement doesn’t have to be a long-term strategy. It starts on day one.
To see two very different employee experiences, watch the “Tale of Two Employees” video below.