Employee Engagement, Innovation, and the War for Talent
The search for high quality employees is time consuming and challenging. To make matters worse, the McKinsey Global Institute predicts a shortage of skilled workers by 2020. A consequence of this impending deficiency means talented employees are more precious than ever.
Employers are scrambling to retain top talent – before another company snatches them up. By channeling energy into engaging all employees, especially the top talent, you create an environment in which people want to come to work and contribute to the organization’s overall success.
Engaging employees requires understanding each employee and the values that motivate them. There are several ways to touch on these values:
- Innovation. Allow time and resources for innovative projects that people are passionate about. This is a chance for employees to engage in work they love and contribute to the company in a much bigger way.
- Rewards. Monetary rewards, like gift cards for perfect attendance, tend to have a negative effect on performance because you’re rewarding behavior that should be the norm. But rewards in the form of public praise for exceptional work can be very effective – let people know that the work they do matters.
- Career Development. Most employees, especially top performers, want to improve their skills and grow professionally. Fostering their development will not only help them perform better within your organization, it will satisfy the need for feedback and self-improvement.
- Strategy. A clear strategy that the company lives by makes it easier for employees to identify with its mission. There is a sense of accomplishment and purpose when your work connects to the bigger picture.
- Flexibility. Work is important but people also have obligations outside of the job. A flexible schedule allows your workforce to focus on a task while allowing them time to sort out other life stresses.
New talent requires training and an adjustment period. Using the existing workforce for a new project helps streamline the entire process. Retaining quality employees and creating a culture in which people can engage in their work will help you reduce the need for new talent.