As a leader, how do you stop wasting profits on crippling turnover costs by mastering the artistry of employee validation?
Let's look at the facts. Data from the Engage for Success reports show that organisations with higher engagement have:
My previous article – Employee Engagement Part 1, which was published on LinkedIn, triggered a reader to raise a valid point. Since the MacLeod report there hasn’t been much more evidence to show a correlation between high engagement levels and lower turnover costs, as well as, better customer service, which results in higher revenue.
Since then I made it my mission to dig deeper.
I found compelling new evidence which brings this debate into the current decade and it shouldn’t be ignored:
Dynamic Signal is a technology USA based organisation which delivers timely, relevant information to millions of employees around the world, so they can do their jobs better. They carried out an extensive amount of research in 2017 on employee engagement vs higher revenue.
It discovered the following statistics from various sources:
Talent Culture – an online content sharing site for professional people also claimed the following startling statistics:
Ok, so there you have it. There are direct correlations. Perhaps the information doesn’t include enough bar charts for some people but the bite size evidence proves it enough. So what’s next?
Your commitment to making people feel valued at work is an important part of engaging talent.
Try to adopt diverse ways of demonstrating how and why people are truly valued in your organisation.
“It’s the ‘soft’ skills that make the difference.
It’s the ‘soft’ skills that are hard”.
Some call these the ‘soft skills’ and yet…. it’s the soft skills that are actually difficult.
So how do you, as a manager and leader in the organisation, make sure that people feel really engaged?
A lot of time organisations tend to go through some really tough times, which could make people feel disengaged – yet, you still need every person to give their 100% to achieve the required change in direction.
Unlike pieces of equipment which come with standard procedures to get the best performance out of them, human beings don’t come with manuals. Because each model is unique.
So, one thing you need to do is find out from each person what would make them feel valued.
Apart from money – what ways do you have to show people they are making a difference and are valuable to the organisation?
So often the focus of this discussion is around salary and yet we know that money is only part of the equation. People are often motivated by things beyond money. For example:
As one of our clients pointed out - engaged employees:
Can you imagine all of your employees feeling like this? How exciting and productive would that be?!
Whilst many organisations conduct employee engagement surveys, they are often less rigorous in their assessment of their leadership
One survey tool that the leaders found to be effective in Ocado's Case Study (the world’s largest online super market) and Capgemini's Case Study (a global leader in consulting, technology services and digital transformation), during their leadership development programmes with Maynard Leigh, was the Leadership Impact 360 online assessment tool. This tool was used to contextualise what their employees think about their leadership style.
Other Companies such as Hewlett Packard have found the profile practical and offering useful insight into its leaders' strengths and developmental needs.
From the feedback and results the leadership style can then be adjusted and transformed to have the maximum impact on employee engagement and beyond.
More about the survey tool:
The model is based on the Seven I's of Leadership explained in our book - Leading the Way (Published by: FT/Pearson).
The profile examines inspirational leadership and reveals personal strengths and developmental needs across those 7 I's:
To complete a profile the leader invites up to five colleagues or supporters to provide confidential and anonymous responses about the leader's inspirational impact. The leader's own scores are compared with those of the five supporters in a series of charts and detailed tables.
The profile, completed online provides a focus for development needs and offers a template for planning a personal development programme.
Each profile report includes a 30 minute telephone coaching call from an expert Executive Coach.
Below: The Maynard Leigh Online Tool Leadership Profile Results Menu:
Below: The Maynard Leigh Online Tool Leadership Profile Big Picture:
Below: The Maynard Leigh Online Tool Leadership Profile Table of Comments:
For more information about the profile service please contact firstname.lastname@example.org by e-mail or phone (+44 207 033 2370). Or visit Maynard Leigh's Leadership Profile web page here.
Below is a practical selection of effective leadership tips, action points and inspirational quotes for each day of the week to support you in empowering your employees, so that the best of them hang around for longer
1. Attention: You take a vital first step in triggering engagement by giving your full and exclusive attention to a person, by; seeing who they are, listening to their experiences and empathising with both their careers and concerns.
Action: Choose to give someone your undivided attention today.
“The only factor becoming a scarce in the world of abundance is human attention”. Kevin Kelly, Wired Magazine.
2. Belonging: Human beings have a need to belong, to connect. You can strengthen your people’s sense of belonging by being ever more inclusive and by seeking to connect individual’s together.
Action: Find someone in your team today and show them why they are an important part of what you want to achieve, as well as how they fit into the scheme of things.
“Humans live best when each has a place to stand, when each knows where he belongs in the scheme of things and what he may achieve”. Franks Herbert, Science Fiction Novelist.
3. Emotional Intelligence: The way you express your emotions heavily influences other people. Your ability to empathise with, and therefore value another’s feelings will affect their willingness to engage.
Action: Every hour on the hour, ask yourself “how am I feeling”? And then become aware of other people’s feelings as well. This is how you can start developing your emotional intelligence.
“The emotional brain responds to an event more quickly than the thinking brain”. Daniel Goleman.
4. Individuality: To successfully engage talent, treat each person as an individual with their own unique gifts and abilities – they are one of a kind. You can make them feel special by tailoring your leadership style to their particular needs.
Action: Try to make every member if your team feel special today, and see how they can each excel in their own way.
“Remember always that you not only have the right to be an individual, you have an obligation to be one”. Eleanor Roosevelt.
5. Trust: Less than one third of employees trust their managers. Perhaps that’s because so few managers seem to believe that trust is important. It is, in fact, critical in promoting engagement.
Action: Make an inventory of any promises or agreements that you have made recently and ensure that you have kept them.
“He who does not trust enough, will not be trusted”. Lao Tzu.
Find out more about what our clients say here.
For more information about enhancing Employee Engagement by using Maynard Leigh's methodology and techniques please contact email@example.com.