Truths About Employee Engagement And Retention

With bottom-line being the buzzword, few organizations invest in employee engagement and retention factors after their recruitment drive. This is driven by behavioral practice in the course of working. Hence, retention and engagement becomes a challenge that has a multifold approach necessary for sustainable and progressive career growth.

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Leaders are the quintessential pivots and liaisons that an organization needs. They are the problem solvers and heads of all ventures. This creates a requirement for a leader to be responsible, self aware and at par with industry values and ethics. It is important that firms develop work culture and environment for leaders to foster within the current framework. The support and motivation from higher levels will help employees to perform, lead and strive for sustainable value creation.

National statistics mark the recent growth in women participants in the Indian labor force, with percentages rising [1] from 13% to 14.7% in the past 2 years. However, the stats in relation to the population of educated women are an eye opener that there’s still a long way to go. What is even more disturbing is the drop in women at managerial levels [2] is 86 to 79% as we climb up the hierarchy. There is a transparent barrier that prevents the idea of women at the top managerial levels. The wage gap is yet another pressing factor. Hence, any organization that wants to achieve well rounded success will have to create avenues to best represent their workforce diversity. Equal opportunities for men and women are the need of the hour.

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Motivation is a skill that helps a workforce to grow not only as individuals but also manifest in the growth of the organization. Hence, it is important for any management to value and appreciate their employees. Keep employees from overworking on unnecessary details and make assessment easier with clearly pointed out information regarding the task at hand and the desired achievable. Added bonus? Employees will be driven to reach the goal and be content at doing the same. This will create a sustainable work process that creates employee satisfaction and ultimately retention. Every employee should feel valued and appreciated along with rightful compensation for their efforts. When all the above factors are in place a firm can give professionals the opportunity to aspire for better career benchmarks. Development and evolution of skills not only ensure solid credentials for them but also instill a sense of trust in the audience. Help new professionals with their teamwork and organizational culture assisting them to build successful working relationships with their managers. Aid them in developing a well-mapped career path, including short-term objectives that serve as milestones. For conditioned employees newer opportunity generation is important to prevent a rut.

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Any organization depends on the expertise and engagement of its employees to develop. Hence it is important that firms provide benefits for an employee to evolve and grow the skills they’ll need. This in turn will further the organization making it a well balance ecosystem.

Citations:

  1. IMF Working Paper Sonali Das, Sonali Jain-Chandra, Kalpana Kochhar, and Naresh Kumar
  2. Aarti Shyam Sunder, Alixandra Pollack, Dnika Travis, “India Inc: From intention to Impact” 2015

What Makes Your Boss Extraordinary?

On my way to work today , while listening to 93.5 FM, RJ Malishka interacted with her listeners to add in their take,  by highlighting an employee’s views on their boss without disclosing personal  information.

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Here is a take on the different kinds of bosses with their unique personalities.

We live in a work environment where we are recognized in accordance to the team manager we work with. The experience from the first boss to the last one gives you a contradictory outlook of your work life. From the good one creating an easy life for you for just being there, you also have difficult line managers who make you persevere like a machine. A boss could be a facet of your life you cannot ignore, nevertheless can be a reason to believe in the changing perceptions about your abilities, the work life, the corporate world at all.

  1. The New Aspiring Boss

With a new bubbling team handed over for the first time to the aspiring new boss, the team manager is assessed with the motivation switch, if is kept on, simply articulates his career.

  1. The Exploding Bomb

We never know when the bomb would explode, and while we know that it will, the exploding type of boss can make for an alarm clock going off; when you know the time you will be bombarded at. We are all suicide bombers in the exploding boss’s team.

  1. The Prudent & Careful Boss

One step at a time, scanning each item at a time, and still faster with a lightning speed, the careful boss knows what information is accurate, and what factual errors entail.

  1. The Outstanding & Loved Boss

We all have our favorite bosses who make our career graph look positive, by helping and guiding us through the initial years or the culminating years of our work life.

  1. The Dormant Low-Profile Boss

A task is handed over; the team member is guided with the guidelines on an email, and the boss lies in the cabin for hours without any interaction makes for a boring dormant team who act like replicas of the boss.

  1. The Active A Type Personality

Climbing the stairs if the lift is 10 seconds late even if it is the 5ft floor you need to ascend , making others seem like slow tortoises, and getting minute by minute details of every task, makes a thinking employee a fast moving machine replicating health issues, an A type personality boss could give with a salary every month.

  1. The Firing Squad

New to the environment in your new job, the boss seems to be happy for a while, but if is a firing squad can change the outlook of the employee. Along with a new spree for a job search initiated again, interviews assessed, and a new job again makes for monetary loss, the boss wouldn’t encompass even if given directions.

  1. The Retaining & Understanding Boss

An employee wants stability in his career. While a boss trains an employee, he knows well that losing an employee could make for a loss of 5x the salary of that employee. To train again would be another task in itself, with time being a constraint. Understanding the needs of the employee makes the boss the smart leader, any member of his staff would follow blindly.

These are just a few types we come across. You can also help us in getting some more unusual combinations you have noticed in your boss.


What Factors Motivate You At The Work Place?

When you start your day with a feeling that clearly states you are not interested in heading out to your work place, and the reason seems unknown is definitely not health related. If you ponder further to understand the reason of absenteeism, the studies all over the world have come out with remarkable statistics showing that productive employees need more than just a good job. What defines a good job is more significant in perceiving an employee’s future performance vs. his goals.

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A good job should engage an employee into the company’s fold. It also means 18% more productivity & 59% of creative ideas that come alongside with a right to be heard.67% of the employees want their team managers to communicate and lead. By guiding through leadership, and allowing communication both ways, team managers make for easy comprehension and implementation of these creative ideas. 50% + of organizations all over the world with high employee engagement retain 80% + of their customers. This statistic adds to another statistic that shows 70% don’t quit their jobs; they quit their bosses. Simple facts that provide evidence of a two way route to working productively in a company. While the team manager motivation plan should consider happiness as a factor in highlighting team performance, peer motivation is 20% higher in causing productivity than team manager‘s motivational tactics.

An employee, if is on boarded with proper training is likely to achieve its first milestone with a 77% higher rate,  as compared to the ones who have not received a formal training. Satisfaction for a team manager is + 20% if training is provided, notwithstanding the fact that shows 67% of full time employees with access to free food at work are extremely or very happy at their current job. Free food in itself is a productivity criterion in a company of a different kind, if given to its employees comes with an ROI.


Happy Work Environment = Happy Employee= Happy ROI = Happy Employer

Companies have people as their # 1 asset. While this statement might be true, “HAPPY PEOPLE IN COMPANIES MAKE FOR MORE PRODUCTIVE ASSETS”, might sound more accurate. Established statistics show that happy employees are 31% more productive, and 3X as much creative. While they also state that unhappy employees are 10 % less productive, this only proves that happiness can manifest into productive employees for a company, but also be a joyful manifestation of a cheerful ROI. A happy employee becomes the soul of the company making everyone positive alongside, and this positivity becomes the essence of the fun office environment.

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The straightforward answer to the above question is a simple yes. We also need to know the correct & acceptable way to achieve this immense happiness. Happiness is a stimulating, unlocking key for a productive employee of the company. The key to a happy work environment is the happy employee. If an individual is happy then the energy is felt by every interaction he makes, and this cheerful personification of life reflects at your work environment as well. It’s a small circle of a happy work life.

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Happy Employees are productive reflection on others in a company. While the team manager has a task of employee recognition he chooses to work upon, praise is not something that gives you monetary help. It is definitely a motivational light for scoring success in life. Recognition at work or in life is a small facet that makes an employee happy and smile from within. It is also a pre requisite to become a worthwhile asset for a company to never let go off.


India- Where are we there on the path to Sustainable Development?

Sustainable development is a constant process for meeting the human development goals, by reserving the available resources for the future generation. According to a United Nations report, India’s population encompasses about 1.2 billion people and is expected to grow by another 300 billion in the next couple of decades. With the booming population in India, achieving sustainable development has become increasingly important.

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Due to the huge demographic expanse of India, a large population tends to be bereft of the basic necessities of life. As, India’s performance continues to be below the global average in most of the Human Development Indicators (HDI), the United Nations Development Program (UNDP) ranks India at the 135th position in the Human Development Index (HDI).  The  United Nations have devised the Sustainable Development Goals (SDG’s), which are targets for the
United Nations member states, to redefine their governmental, social and business operations and rank higher in the HDI.

The Corporate Social Responsibility (CSR) Act of 2013 is a crucial step towards attaining the Sustainable Development Goals. CSR is more of a business practice that involves business entities in participating in initiatives that benefit the society and adopt sustainability into the core of their operations. The CSR programs adopted by companies ranges from community development to development in education, environment and healthcare, among others. TATA group has allocated around 100 crores in their CSR budget towards education, through the Tata Education Excellence Program. Wipro’s “Applying Thought in Schools” is a part of its CSR initiative “Wipro cares”. This program has brought together 1000 schools, 10,000 educators and 30 social organizations across 17 states in the country to create a reform in the field of education.

Source of Information: www.indiacsr.in

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