Neglecting to engage your top performing employees can lead to a lower retention rate.
How engagement leads to talent retention
A challenge many organisations face is retention. You put a lot of effort into the hiring process to select people who possess high performance potential, only to have those people leave after a short time with the company. The result is a lot of wasted money, time and effort. And you’re further away from your organisational goals.
There are a lot of factors that can contribute to a high turnover rate, but what you may be overlooking is the amount of engagement you foster in your new hires once they’re in the job. In everything from onboarding to annual reviews, you should be working to enhance the relationship between your employee and your organisation. When you focus your development programmes on building commitment, you might find higher retention in your top talent.
Our top 5 tips for engaging talent
Understand what employee engagement is
Engagement refers to the connection your employees have with the organisation. Employees with a stronger connection are more passionate about their job, more likely to be productive, more likely to be an advocate for the company and less likely to leave.
Define your organisational purpose
Clearly defined values and organisational purpose go a long way towards high employee engagement. Make sure your employees feel like they are working with you towards a common goal. They are more likely to be interested in a long-term working relationship with you if they feel their values are aligned with those of the organisation.
Give your employees a voice
Your employees want to know they are valued. So ask them for their input and then act on their suggestions. Get to know them. Demonstrate true interest in who they are and recognise them for what they’re doing well. Employees who feel like their thoughts and opinions matter are more likely to be invested in their jobs and in the organisation.
Consider job design
Make sure the job roles within your organisation are significant to your overall goal or purpose. Employees want to know they’re making an impact and the work they’re doing has value. Build in a development plan for each role that includes training, opportunities to acquire new skills and the ability to give and receive feedback.
Look at retention from multiple angles
There is no single answer to a retention issue. Working on improving engagement can certainly help, but it’s not a quick fix. Look at everything from external factors and availability of talent in the labour market to how you’re structuring your selection process to bring in the right candidates. Retention should be addressed from multiple angles.
How Talogy can help you better engage your employees
Pick the right people
Engagement starts with selection. If you’re not hiring for best fit from the start, you have a lower likelihood of people staying at your organisation. Talogy’s robust selection solutions can be tailored to your specific needs to ensure you’re identifying the candidates who will be the right fit for your organisation long-term.
Implement an engaging development programme
You hired the best – now encourage them to stay. A development programme should be designed with employee engagement at its core. Talogy’s sustainable and unique development solutions help organisations drive performance and enhance engagement, equipping individuals, teams and leaders with what they need to thrive.
Train your leaders to be inclusive
Employee engagement often relies on how inclusive and engaging your leaders are. Leaders have a huge impact on the overall climate and culture of your organisation. Talogy’s expert consultants can objectively evaluate the performance and impact of your current leadership, and then implement a development solution that includes interventions like inclusivity and emotional intelligence training.
Customise a complete solution
Engagement and retention are complex issues, and the solution is never the same from company to company. That’s where we come in. We can customise a complete talent solution for your specific hiring and development needs – for every level and stage across the entire employee life cycle.
Proven expertise in engaging and retaining talent
Marlin Leasing reached a retention rate of 84%
Identify who has the right qualities and skills to succeed
Marlin Leasing brought in Talogy to determine the personality profile of a successful Marlin Leasing sales representative, improving selection and retention
Average staff engagement score rose from 58% to 69%
Transforming leadership at London South Bank University
How LSBU partnered with Talogy to implement a development programme that enabled leaders to be more empowering, hold others accountable, promote openness to change and innovation, and inspire and engage those they lead
Over 80% of delegates rated the programme as ‘outstanding’ and 100% would recommend it to others.
Accelerating European talent development
How Telefonica commissione Talogy to design and deliver a new talent development programme, resulting in greater retention, succession planning, cross-cultural networks and engaged, inspirational leaders
The Caliper Profile helped me determine what a Marlin top sales rep looks like, and since we began hiring from that model, our turnover has dropped from nearly 50% to 16%.
Chief Sales Officer, Marlin Leasing
Engaging and retaining talent with EIP3
Job satisfaction, psychological well-being, and organisational commitment are at the core of employee engagement and retention issues. With the EIP3 assessment, you can assess and develop the emotional intelligence of your team and leaders in order to create a more positive, engaging environment, which in turn will prevent higher levels of turnover.
Talent management solutions from start to finish.With constant innovation and endless creativity, Talogy crafts solutions that encompass screening, selection and development – for every employee level. Talogy can help you customise a complete talent management programme. Solving for the talent challenges of today and tomorrow.
At Talogy, we ensure you discover brilliance through your talent management solutions. Explore our testimonials and customer stories to learn why organisations like yours choose Talogy as their trusted talent management partner.