We recently had the opportunity to be on location at The Work Institute and spend time with its president Danny Nelms.
The Work Institute is a workforce research and intelligence company. Through surveys and other services companies can identify, understand and take action on the elements that influence employee retention which directly impact the bottom line.
Danny shares some trends in the marketplace that are important for every business leader:
- Workforces are now a bit more unstable now that businesses are hiring again. Employees have choices they have not had in the last few years and are willing to seek other opportunities, especially if their current work experience is just “okay”.
- There are many variables that impact why employees may leave your company. It is important to understand what those are in your environment and not as much from what best practices or industry surveys may show.
- You should know why your employees choose to stay in your company as well as why they may be leaving. Exit and Stay Interviews are a great way to understand the “why’s” in your workplace.
- Decide what feedback you can gather internally and where those opportunities exist to involve a third party.
- For leaders, look for ways to periodically gather feedback from employees that will help you understand what is keeping them engaged as well as those factors that are irritants. Then take action on what you learn.
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