Thursday, September 18, 2008

Employee engagement drives loyalty, retention

Employers that focus on employee engagement and encourage creativity will attract high-performing job candidates and retain loyal employees, giving their company the competitive advantage, according to a new survey by IMR Research Group.

“Business leaders are now recognizing the role employee engagement and loyalty plays in the financial health of a company,” Stacey Randall, IMR’s workplace futurist, said in an IMR story.

“Employee engagement directly impacts profitability and you are wasting resources – human and financial – unless you are focusing on the policies and practices that are going to give you the most bang for your buck.”

Survey results revealed that the workplace attributes with the greatest impact on employee loyalty and retention are:

  • Trust between managers and employees
  • Influence on goals and strategy as they relate to the job
  • Opportunities for professional development
  • Employee empowerment for decisions
  • Encouragement of creativity
  • Passionate and motivated employees

Keeping employees engaged and management focused on the key factors affecting loyalty, will increase job satisfaction and decrease the number of employees searching for opportunities elsewhere.

“The future of the American company rests on our ability to innovate, and workers understand how brainstorming and other creative thinking sessions can contribute to the company’s bottom line as well as make employees feel their input is valued,” Randall said.

“This study indicates that these attributes are not standouts in employees’ minds, but efforts to improve in these areas can lead to great results.”

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