employee engagement - jacobson
TRANSCRIPT
EMPLOYEE ENGAGEMENT
Presented by: David E. Coons, Senior Vice President
Strategies for Shifting Employees from Autopilot to Engaged!
PROJECTED HIRING AND REVENUE PLANS
Increase Revenue 56.4%
Flat Growth
18.8%
Decrease Revenue 10.3%
Don't Know 14.5%
Increase Staff 43.6%
Maintain Staff 43.6%
Decrease Staff 12.8%
12-month Revenue Expectations
12-month Staffing Expectations
Source: The Jacobson Group and Ward Group Insurance Labor Outlook Study
COMPETITVE ADVANTAGE OF ENGAGED EMPLOYEES
Perform better than others
Recommend their organizations to others
Take fewer sick days
Are less likely to quit
Experience enhanced job satisfaction
Have a more positive attitude
How Does Employee Engagement Affect the Bottom Line?
It is estimated that actively disengaged workers cost U.S. businesses approximately $30B per year.
Source: DecisionWise engagement survey
Only 29 percent of the workforce is truly engaged (employees who feel a profound connection to their employers, leaders and teams).
54 percent of employees are not engaged (employees who are on auto-pilot).
19 percent of employees are actively disengaged.
WHO IS ENGAGED?
Source: Quantum Market Research Study
Engaged
Autopilot
Disengaged
Morale is Low
23 percent of employers rate their organizations’ current employee morale as low.
90 percent of employees did not receive a promotion in 2009.
23 percent of workers said they are dissatisfied or very dissatisfied with their work/life balance.
24 percent of employees are networking and updating their resumes.
13 percent are not job searching and intend to stay.
Source: CareerBuilder Survey, November 2009
DID YOU KNOW...?
According to the Bureau of Labor Statistics, it costsone-third of an employee’s salary to replace him/her.
EMPLOYER VS. EMPLOYEE MINDSET
Source: Salary.com 2009 Employee Job Satisfaction and Retention Survey
80 percent of employers don’t believe employees will begin a job search in the next few months.
VS.
60 percent of employees plan to intensify their job search in the next three months
Employers estimate that 37 percent of employees are looking for a new job.
65 percent of employees are passively or actively looking for a new job.
Employee Engagement
The general pattern in a downturn is for organizations to cut back on all aspects of employee investment –graduate recruitment, training and development, pay and reward –only to find a few years later that they lack the talent and motivation to take the business forward when conditions improve.
Source: Accor, Reward to Engage Study
Millennials are willing to give more to keep their jobs:
30 percent are prepared to take on additional projects or help colleagues to keep their jobs.
33 percent say they are willing to work more hours to improve job security.
44 percent rank job security as more important than job satisfaction.
Source: Experience, Inc. 2009 survey
CHANGE IN MILLENIALS’ ATTITUDES
• Trust
• Mental stimulation
• Understanding of how individual performance impacts company performance
• Growth opportunities
• Company pride
• Coworkers/team members
• Employee development
• Relationship with manager
COMPONENTS OF JOB SATISFACTION
Great Jobs
• Freedom and autonomy
• Exciting challenges
• Career advancement and growth
• Fit with admirable boss
Great Company
• Values and culture
• Well-managed
• Exciting challenges
• Strong performance
• Industry leader
• Talented employees
• Strong development
• Inspiring mission
• Fun
• Job security
Compensation & Lifestyle
• High total compensation
• Geographic location
• Respect for lifestyle
• Acceptable pace and stress
WHAT MOTIVATES TALENT?
• Cognitive Engagement: employees focus very hard on work, are rarely distracted and think about very little else during the work day
• Emotional Engagement: employees are emotionally engaged with their work, put their hearts into their jobs and are excited when they perform well
• Physical Engagement: employees are willing to go the extra mile for their employer and stay until the job is completed, while exerting the energy to perform
Source: Chartered Institute of Personnel and Development
THREE LEVELS OF ENGAGEMENT
ActivelyDisengaged
EngagedDisengaged
ENGAGEMENT SPECTRUM
Employee Engagement
The most important decision we make in business, every day, is deciding who to let in the door.
Source: www.recruitingtrends.com
Develop your own talent.
Involve the employee in the development process.
Understand each employee’s individual career goals.
Create individual development plans for each employee.
Define measurable objectives and goals.
Give the employee ownership of the process.
EMPOWER YOUR WORKFORCE
Know the requirements of the job.
Determine skill, will and fit.
Trust your instincts, but back them up with data.
Ask the obvious.
Let the candidate talk.
Hire tough in order to manage easy.
Don’t settle for less.
Employ the behavioral assessment interview process.
ASSESSING THE CANDIDATE
Comprehensive orientation program
Mentoring program
Career development program
Community involvement
Family inclusion in company activities
CREATE AN ENVIRONMENT FOR SUCCESS
Compensation plans
Incentive pay
Greater responsibility and autonomy
Special projects
Opportunity for advancement
Recognition
REWARD YOUR A-LEVEL TALENT
David E. CoonsSenior Vice President
(800) 466-1578, ext. [email protected]
THANK YOU!
QUESTIONS ABOUT ENGAGEMENT?