The Importance of Employee Engagement in an Organization
Employee retention is as important as keeping your family together. It gets difficult to keep a family together when it’s falling apart right? In the same manner, once an employee leaves the company it is a moment of crisis. How do you retain them?
What’s even challenging is to find the right talent to replace the candidate. There’s this assumption that today’s employees are mostly job hoppers, well this can be due many factors – age, money, ethnicity, gender, education etc. But what do you do when companies do an awful job even after employees keep up with most of their work and do their best?
This is where the factor “” plays a huge role in organizations these days.
Retention is a never-ending challenge, but it can be met by placing the right people at the right place and at the right positions by creating the best work culture.
Let’s have a look at why you need to have employee retention at your organization:
Hiring a candidate is not cheap. As per the studies it is said that replacing an employee might cost somewhere between 20-200% of the previous employee’s salary. Larger the responsibility, higher the compensation will be in replacing him.
· Productivity and performance level is maintained
Running a business can cause affects in the workflow that can eventually disrupt the company’s success rate. When an employee leaves the organization, you’re left with a set of responsibilities that needs to be taken care of, and this is just an additional task for the current workers. This can cause extra stress and might burn out.
· Improved company’s morale
Having a high employee turnover rate can change the entire scenario of a company. If they’re not happy with the job, you cannot expect them to go out of their way and finish their job.
· Employee turnover is reduced
It is not a joke to run a team that trusts you. Reasons why employee turnover strategies are important.
· Revive company brand
When you’re promoting a business, the employees are the first ones to advocate. For situations, such as this you do not want your employees speak evil about the company they’re working at.
Overall, employee retention cannot be overstated. Develop a system and good habits within the work environment and you’ll be there.