Hiring an employee is an expensive proposition. Some hiring managers never realize all of the hidden costs of attracting, recruiting, onboarding and successfully integrating new employees. According to Investopdia.com it can cost as much as $3,500 to hire a minimum wage employee. Once the employee is hired additional costs must be considered such as benefits, health insurance and dental plans, just to name a few. Then the cost of training tacks on another couple thousand dollars to the overall expense.
With so much effort and expense it makes sense to keep employees engaged and invested. Salary is not the only consideration when employees decide to leave. Lack of engagement is usually the culprit.
Engaged employees do not look to leave their employer. Some of the leading reasons employees break up with their employers are:
- Lack of training and development
- Lack of communication
- No opportunities for advancement
- Little to no recognition
- Disproportionate work/life balance
- Not feeling valued and respected
Employee engagement occurs when employees are invested in the company’s goals, mission, vision and organizational success while at the same time allowed to enhance their own sense of well-being. Engagement is the ultimate in work/life balance. It is important to create this balance for employees. However, measuring “engagement” is completely subjective as there is no objective quantitative measure of engagement.
Some elements of employee engagement are:
- Professional and Personal Growth
- Accountability and Performance
- Vision and Values
- Corporate Social Responsibility
Tips for Engagement
Communication-Employee engagement starts with open and honest two-way communication between employer and employee. Employees feel valued when their opinion is taken into consideration. In this environment employees are able to voice opinions without retribution. Employees should be comfortable speaking with management about operations and production issues that may occur during the manufacturing process. Employee engagement is further improved when management provides updates on key projects, company strategies and future plans.
Training-(Professional and Personal Growth) Ambitious employees want to develop new skills and talents. Employee development not only occurs in the classroom but on the job as well. New projects and responsibilities in addition to structured coursework encourage growth and development. The best way to facilitate meaningful development is to find out exactly how each employee wants to grow and then to match that with opportunities within the company.
With that said engagement is all about how employees feel. What is their perception of their work environment and their sense of self? Do they feel valued for their ideas, contributions and efforts while they embrace corporate ideals?
In Part Two of Employee Engagement we will look at the importance of engagement and retaining top talent as well as additional tips for engagement!
NJMEP has various programs and services to help you develop your workforce. Contact us at (973) 998-9801 with any quesitons.