Download - Talent retention - all the stats
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Incentive solutions that deliver results. 13 Feb 2015
Talent retention –A business imperative
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SALES INCENTIVES|PERFORMANCE REWARDS|EVENTS COMMUNICATION|INCENTIVE TRAVEL
BRAZIL | EGYPT | GHANA |INDIA | INDONESIA | KENYA | MAURITIUS | NIGERIA | SOUTH AFRICA |SWITZERLAND | UGANDA
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We exist to help our clients,
and their people, WIN
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MILLENIALS
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We exist to help our clients,
and their people, WIN
By 2020, millennials will be
50% of the global workforce.
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WHY IS THIS IMPORTANT?
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Millennials want a management style and corporate culture that is markedly different to that of baby boomers.
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Millennials tend to be uncomfortable with rigid corporate structures and turned off by information silos. .
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They have an affinity with the digital world. Technology and social media is their currency and everything else needs to fit. .
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WHO CARES?
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JUST HIRE ANOTHER ONE
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OR NOT
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To replace an engaged employee costs between
60%-200% of the employee’s total annual salary.
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HOW IS THIS POSSIBLE?
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Hiring is a time consuming process: each candidate needs to be carefully examined and considered
Training: new recruit training is an essential element in the hiring process
“Defection”: it is likely that if an employee leaves your organisation, they may be employed by a competitor
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WHY DO PEOPLE ABANDON SHIP?
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The reason that 95% of people leave their jobs is because they don’t feel valued.
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No Engagement
Research shows that 70% of employees
are disengaged or actively disengaged.
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If you compare your company to ten crew in a boat, only three of them are paddling to go forward, five are there for the ride, and two are actively trying to sink the boat.
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MORE REASON WHY TALENT RETENTION IS AN IMPERATIVE
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20-30% better than
those who don’t.
ROI: Businesses across the size spectrum that retain their top talent perform on average
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Recent research has revealed that engaged staff are
480%more committed to helping the company succeed.
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HOW TO RETAIN YOUR TOP TALENT
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STRIVE TO BECOME A “BEST EMPLOYER”
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Best Employers drive:
• higher engagement, • higher retention rate, • higher revenue growth, • Greater shareholder value• Consistent long term
performance.
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LEAD FROM THE FRONT
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Genuinely Care About & Recognise Your Workforce
By showing a real interest in your workforce you actively demonstrate that you value them and their contribution to the business.
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Act With IntegrityLeaders actively living the values of their own company set a great example
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Demonstrate Competence Teaching and mentoring demonstrate that the leadership is happy to invest in the future of the company
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PRACTICAL TIPS TO START THE BALL ROLLING
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• Build relationships and communicate with employees regularly• Build good recruitment processes• Build morale and provide a work environment that is
comfortable and pleasing• Build respect: it is important that employees respect their
direct supervisors as well as company leadership• Always, always treat employees fairly• Recognise and reward behaviour that reflects good work habits
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This requires Introspection
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Consultation with staff
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Planning
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Recognition & Reward programme(soft and hard rewards)
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Proven Expert intervention
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www.uwiniwin.net
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