More than half (53 percent) of U.S. companies with 500 or more employees conduct employee engagement surveys. However, more than a third of managers do not act on the results of these surveys. The implications of this inaction, which has held at a relatively constant rate for several years, are particularly significant in today’s business environment in which high turnover rates and historically low unemployment converge to reduce capacity for achieving growth forecasts.Read More
All employers, large and small, are competing to attract and retain employees for the same hard-to-fill jobs in today’s highly competitive, candidate-driven marketplace.
McKinsey & Company reports that more than three- quarters of Fortune 500 CEOs do not believe their companies are effective at attracting highly talented people. Of those CEOs who do consider their companies successful at attracting top talent, only 7% believe they are effective in retaining them.
Is your company more effective at recognizing employee performance than your closest competitors? If you are uncertain about the answer, you may want to investigate. Performance recognition is a powerful tool for influencing behaviors that drive key business outcomes.
If your CEO showed up unannounced in your office tomorrow and asked the following questions, would you be able to answer them?
- Are our employees more or less engaged than our competitors?
- In what ways, specifically, are our employees more engaged and less engaged?
Now for an even more important question. If you couldn't provide answers on the spot, should you or your HR department be able to?
Today’s CEOs have data on nearly every facet of their business. Yet, many come up short when they seek objective, data-driven insights on their company’s most valuable assets–its people. If HR can’t provide these insights, who should?