Most managers are concerned with how to retain their best or “rock-star” employees, particularly at a time when they may be unsettled with redundancies in other areas of the business, yet many managers may not necessarily understand or address the true causes of staff disengagement and voluntary turnover.
The Kelly Global Workforce Index (KGWI), an annual employee survey with approximately 230 000 participants in 31 countries, found in 2013 and 2014 that less than 31% of employees are totally committed to their current employer. Disturbingly, Australia was ranked as the most volatile job market with 62% of employees changing jobs between 2012 and 2013, and only 22% - 25% of Australian employees reporting total commitment to their current employer in 2014.
So do employees leave the job…the pay…or the workplace?
Typically a manager may believe that employees are lured away by higher remuneration. In reality we see that training opportunities, clear job descriptions and transparency are the top three areas managers need to work on to engage employees, especially when 63% of employees say that managers have a direct influence on job satisfaction (KGWI 2013). It is the disconnect between management understanding and reality, which may prevents employers actively engaging employees.
So how do you engage your staff?
With 43% of employees frequently thinking about quitting, and 55% of employees actively looking for a better job even when they are happy (KGWI 2013), employers need to be serious about retaining their “rock star” employees. In these difficult financial times, managers can worry less about low or negligible pay increases and instead focus on long-term solutions such as implementing strong management practices and a sound workplace culture.
Contact WCA - People & Culture Solutions if you require any assistance with Human Resources and Industrial Relations on (08) 9383 3293 or email@example.com