HR Remedy, LLC

Description

In every organization HR is continuously working with the company’s most important assets while also trying to support the overall business. HR strives to be a strategic partner to the business. This requires two things: 1) Running the HR group efficiently, and 2) Viewing the business leaders as your customers. As with any service provider, HR’s role is often to provide a high level of service, to “market” their services to business leaders, and to add value to the company’s bottom line. Business leaders will struggle to realize the true value of its HR group unless it can add value and bring an ROI to the business. The question becomes, “How does HR continue to transform itself to provide a return and exceed their efficiency and effectiveness targets?” One clear way to market HR’s role within the organization and show a significant ROI is through employee engagement and retention programs. Many organizations are chasing the wrong problem. Instead of focusing more of their efforts on keeping the talent they have, they often spend too much time and money finding talent from the outside. Depending on which source you cite, employee turnover will cost your organization anywhere from 1 to 5 times the cost of their salary and benefits. Given that we can agree it is always cheaper to keep your existing workforce than it is to replace it, what can be done to improve retention? Employee engagement and retention depend on a number of factors; and, in some instances, a reasonable level of voluntary turnover is desirable. In fact, there may be a need to effectively and systematically assess whether your current workforce can take your strategy forward. But, if your current talent can implement the organization’s goals and strategies, then a well thought out program to address workforce engagement and retention (assuming it is also integrated with the rest of your talent management initiatives) is likely to pay for itself many times over. Let’s not forget that there can often be knee-jerk reactions to retention problems. They can be desperate and often involve throwing money at people when dollars are not the underlying driver of dissatisfaction. Many short-term reactions and quick fixes do not work. In fact, such reactions may be very costly, cause greater discontent and still not result in true engagement. What do we mean when we talk about workforce engagement? Engagement comes when your workforce feels committed to your organization. Such engagement has to be more than just loyalty to the organization as demonstrated by showing up each day. It has to be a willingness to go above and beyond, and a feeling both that the organization is something special and that employee’s individual contributions are valued. Getting that kind of engagement depends on the complex interplay of many factors that are ideally measured and analyzed through a specifically designed employee survey. If you can isolate those factors, you can better determine what pressure points matter to your people.

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