Talent Engagement and Retention Strategies, Talent Engagement Strategy
Are you experiencing high levels of employee turnover? Low employee engagement is a major factor for low employee retention. Learn how employee engagement and retention are deeply connected to reduce turnover. Following are the 10 functions which essentially help you to drive Talent engagement and Retention on your company.
How to Improve Employee Retention via Employee Engagement
- Solid onboarding: Help new employees start off on the right foot by creating a comprehensive onboarding program.
- Positive company culture: A positive company culture goes hand-in-hand with a solid onboarding process.
- Listen to your employees: How can you be sure if your employees are engaged with their work? Try asking them. Collecting employee feedback is a powerful tool for learning new employee engagement ideas,
- Make your employees feel valued: Employees often cite a lack of recognition as a driving factor of a lack of engagement.
- Give employees opportunities: Your employees want to feel like they have chances for promotion within your company.
- Company events: Employee engagement and employee relationships go hand-in-hand. The better your employees get along with each other, the stronger your company culture becomes.
- Don’t overwhelm your employees: Not all employee engagement strategies are about adding things for your employees to do. Understanding how your employees relate to their work is important for avoiding work overload.
- Create an employee engagement strategy: Much of what we’ve mentioned so far can be planned and performed as part of an employee engagement strategy.
- Track engagement via internal communications: You’ll know if your employee retention efforts are working if your company experiences lower than normal turnover after your efforts.
- Keep employees informed of company news: Uncertainty breeds anxiety. Keeping your employees in the know about company issues that affect them is a quick and easy way to increase employee retention.
Driving Factors of Talent Engagement
The drivers of employee engagement are often impacted by many factors, including:
- Organizational culture: An organization’s culture encompasses the values and behaviors that shape it and exemplify “the way things get done around here.
- Industry: If you ask managers in two different industries what drives engagement for their employees, you may end up with two completely different lists.
- Job function: An employee’s specific job function can greatly impact what motivates them.
- Career path: Career goals—and progress toward them—are another factor that contributes to employee engagement. Depending on the career stage a certain employee is in, they may be motivated by different things.
Talent Engagement Meaning, What is Talent Engagement, Definition of Talent Engagement
Talent engagement – broadly – describes the strength of the mental and emotional connection an employee feels toward their employer and place of work. Highly engaged talent closely associates their work or employer with their own professional (and personal) growth, and are more likely to stay with the company.
Organizations that get talent engagement right find ways to elevate the employee experience over time and enable them to thrive. This also benefits the company, by aligning the employee’s career ambitions with business goals and the skill gaps that need to be filled.
Importance of Talent Engagement
Following are the 5 reasons why employee engagement is important:
- Engaged employees boost productivity: Reports show that employees who are invested in their roles are more productive than those who aren’t.
- Employee engagement increases customer satisfaction: People who are passionate about their work are often the best people to interact with your customers
- You’ll retain your best people: Engaged employees are involved and invested in their roles and are therefore less likely to leave their job.
- Employee engagement enhances company culture: People who are engaged in what they do are, in general, easier to work with. And not because they’re happier or more cheery, either.
- Engagement is a symptom of success: As Ann Latham put it, engagement is a symptom of success. And this doesn’t necessarily mean a business success (or a successful business, for that matter). Rather, engagement is usually the result of a personal or team success.
Talent Engagement Model
Employee engagement is a measurement of how dedicated employees are to their workplace or employer.
- The JD-R Model: Our first employee engagement model is among the most popular, and is our personal favorite. Established in 2006 by Arnold Bakker and Evangelia Demerouti, the Job Demands-Resources theory can be used to predict or alert companies of signs of employee burnout and to encourage engagement.
- The Zinger model: This next employee engagement model is named after its creator, management consultant David Zinger. His theory is based on decades of experience in employee psychology, assistance, engagement, and burnout. His model focuses on the importance of employee connections to one another, to the organization, to customers, to their broader community, and to the employee’s own performance.
- The Deloitte model: The Deloitte model was developed and popularized by Deloitte Touche Tohmatsu Limited, one of the world’s Big Four accounting firms. With over 330,000 employees globally, Deloitte’s ability to keep its teams engaged has massive implications for their organization.
- The Gallup Employee Engagement model: As an industry leader in workplace analytics, Gallup already provides companies with many of the most widely circulated statistics on employee engagement.
- The AON Hewitt model: Most employee engagement models operate on the assumption that engagement is essential to a successful organization. The AON Hewitt model takes this a step further by explicitly building this connection into their model through the concept of engagement outcomes.
Talent Engagement Initiatives, Key Talent Engagement Initiatives
Looking at engagement initiatives that align with the following key factors that drive employee engagement:
- Leadership-focused employee engagement initiatives: Here are two ways organizations can act to improve leadership: Hold a synthesis sessions & Bring company values to life.
- Enablement-focused employee engagement initiatives: Here are two initiatives that target enablement: Create a transparency report and Host a customer panel.
- Alignment-focused employee engagement initiatives: Here are three initiatives that help build alignment: Ask employees to write their role description, Create an online communication channel for leaders and Recognize employee behavior.
- Development-focused employee engagement initiatives: Here are three development initiatives to drive employee engagement: Offer personal coaching, Hold stay interviews and Create a system for employee-led teaching programs.
Talent Engagement Activities
There are many ideas on how to engage employees, but the goal should always be to prioritize activities that put employees at the center. Here’s our comprehensive list of employee engagement activities:
- Workplace parties
- Learning lunches
- Employee games, tournaments, and competitions
- Special days
- Recognition programs
- Sporting events
- Team-building activities
- Bar nights
- Fundraisers and charity days
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Talent Engagement is Mostly used for Enhanced
13 Most of the common the benefits of derive from employee engagement initiatives are:
- Increased employee safety.
- Better employee health.
- Happier employees.
- Greater employee satisfaction.
- Better home life.
- Lower absenteeism.
- Higher retention.
- Greater employee loyalty.
- Better customer service.
- Better quality.
- Greater productivity.
- Higher sales.
- Higher profitability.
Best Practices for Talent Engagement
Following are 10 best practices for improving your culture:
- Measure engagement: Measuring current levels of engagement can help identify what’s working and where you can improve.
- Build an engagement strategy: It’s important to recognize employee engagement as a strategic priority and act accordingly.
- Set expectations: Setting Expectations from stakeholders are very important for continuation and successful Talent Management Process.
- Consider what motivates your employees: Polling employees on what motivates them can help you map out an engagement strategy that fits their incentives.
- Set the example: Executives who understand the connection between business success and engagement know to set an example for the company.
- Establish a responsive (and regular) feedback loop: When it comes to keeping employees engaged, feedback is essential. That’s one reason Wright emphasizes constant communication, both up and down the organizational hierarchy.
- Get management right: Managers play a pivotal role in engagement. The right manager can help your team excel; the wrong manager can ruin your business from the inside out.
- Conduct exit — and stay — interviews: The more engaged employees are, the less likely they are to leave. While most organizations routinely perform exit interviews when people leave, it’s just as vital to perform “stay” interviews.
- Make engagement an ongoing exercise: Successful engagement strategies are a constant affair. If you’re simply adding a meeting once a year, sending out a quarterly survey or soliciting generic feedback, you’re not fostering the constant, honest and open communication necessary to keep employees engaged.
- Practice makes perfect: With practice, engagement processes can become an integral part of your organization’s culture. For companies that feel engagement is a weak point, persistence is key, according to Gallup’s research.
Talent Engagement Ppt
Strategic Compensation Plan for Talent Engagement
Here are “Five strategies for Engaging Employees through Compensation”
- Paying for Competencies:- Analyse key organizational positions to determine what competencies in employees differentiate the average from outstanding in terms of performance.
- Offering “Proxies” for Promotion:- In today’s delayered organizations, traditional symbols of advancement – bigger budgets, more subordinates, etc.- are now redundant as indicators of success..
- Rewarding Employees to take Charge: Employees, must seize the initiative to get ahead and rewarding them to do so can result in engagement as well as skill development of the workforce.
- Aligning Organizational values with Rewards: In an effort to direct the organization towards its strategic goals, companies can also define values and behaviour that contributes to this goal and reward employees who consistently exhibit these values and behaviour.
- Clear and Transparent Compensation system: A fair compensation system at work which shows transparency in current bonuses, wages and any benefits linked to the positions of different employees and their contribution to the workforce helps promote engagement.
Talent Engagement Agreement
Talent Engagement Agreement can drawn through a Talent/Employee Engagement Annual Calendar like below.
Talent Engagement Job Description
Sample responsibilities for this position include:
- Plans, coordinates and facilitates strategy design events
- Supports the candidate research and insights project (including agency relationship management)
- Consult with the Talent Acquisition community to ensure that the candidate experience from sourcing to placement reflects the Talent brand
- In partnership with Global Corporate Affairs, HR Operations and IT, oversee and maintain the talent brand experience via online channels (gapinc.com, Gapweb, Taleo, LinkedIn)
- Demonstrate service excellence and positive interpersonal relations in dealing with internal and external customers to maximize productivity and positive relations
- Graphic design and videography skills a plus
- Provide thought leadership to existing Employee Engagement approaches, including affiliate/country employee opinion surveys and local/country ‘Best Place to Work’ approaches
- Create education/awareness building materials for all our stakeholders across deliverables
- Review initial Global Job Catalogue design, and partner with Global Compensation, HR Transformation, and with the Global Career Pathways teams to ensure alignment of the work streams from the standpoint of Global Grading, Leveling, and inputs into the HRIS (Oracle)
- Partner with the Organization Design COE on Job Catalog efforts to ensure alignment across initiatives