Good talent is hard to find. And depending on your industry and geography, challenges can include hard-to-find skills and strong competition for a limited pool of qualified talent.
Once you do have the right employees in place, you need to engage them – get them invested in and aligned to your business and its desired outcomes. Fueling their passions and accelerating their development can encourage them to commit to your organization for the long-term – and can improve your business results.
According to a Brandon Hall Group survey1, the majority of companies struggle with “what prompts an employee to do more than just ‘show up’ every day.”
The documented correlations between employee engagement and business success points to why it’s more crucial than ever to engage your employees. A more pressing question is how to engage them effectively.
How well do you know your workers and what motivates them? A new infographic shares 6 Things You Should Know About Each Employee:
1. Social/Peer Recognition Practices
According to a study by Boston Consulting Group, organizations with savvy recognition practices are 12 times more likely to have strong business outcomes.2 (Tweet this stat!) In addition, “in organizations where recognition occurs, employee engagement, productivity and customer service are about 14 percent better than in those where recognition does not occur.” Yet, only 17% of the employees who participated in the study reported that their organizations supported recognition.3
2. Internal Mobility and Openness to Relocation
If you surveyed your employees, most would tell you that they are willing to relocate. 64% of workers globally say that they would be open to moving abroad for a career opportunity, according to a study by The Boston Consulting Group (BCG).4 (Tweet this stat!) In a press release, Rainer Strack, a BCG senior partner and coauthor of the BCG report based on the study, says that this trend “is opening up significant opportunities for individuals and for the many countries and multinational companies that are facing talent shortages.”5
3. Ongoing Performance Metrics and Feedback
41% of organizations believe that in-the-moment feedback to employees is ‘highly effective’ at improving performance.6 (Tweet this stat!) They’re on to something. Performance management is most effective when it’s ongoing and informal. Our culture thrives on instant feedback thanks to technology and social media, so a “nice job” that recognizes a great report or some actionable advice on how an employee might improve the outcome for subsequent customer interactions, for instance, quenches employees’ thirst for feedback and lets them know regularly – not just once a year in a performance review – how they are performing.
4. Core Strengths and Competencies
Each of your employees comes with a unique set of skills and abilities. Play to their strengths by aligning your employees’ unique capabilities with what you need to accomplish business-wise. You’ll be setting them up for success – and setting your business up for better outcomes. 73% of organizations say that developing strengths rather than evaluating weaknesses is critical to effective performance management.7 (Tweet this stat!)
5. Active Career Development Discussions
It’s all about retention. In its research report, Navigating Ambiguity: Career Research Report 2014, BlessingWhite says, “Providing career resources is not an employee perk. It is a deliberate strategy to guide individual aspirations and personal skill-building in a direction that is most beneficial to the enterprise.” But a strategy is only as good as its execution – which may be lagging, because only 12% of employees, a shockingly low number, see their next career step as a move up the ladder internally – and a dangerous 29% see their next step as a move outside the company.8 (Tweet this stat!)
6. Leadership Potential
An organization’s growth quickly can outpace its resources. That’s why innovators and agile startups tend to nurture and grow internal talent when possible. The benefits of possessing “insider” knowledge of that company’s specific business and culture, as well as a more cost-effective compensation “price tag” give internal leaders the advantage. And, it appears that most companies are committed to internal promotion. 62% of organizations surveyed ranked leadership development their top talent management strategy.9 (Tweet this stat!)
Better performance management starts with knowing your employees. Understanding what drives them can help your business motivate, retain, and grow great talent.
View and share the infographic (or the individual stats) that captures it all.
1 [Source: Brandon Hall Group. Talent Management 2014: Sharp Contrast between Urgency and Readiness. Laci Loew, VP, Talent Management practice, and Principal Analyst, December 2014]
2 [Source: Bersin by Deloitte. Research Report. The State of Employee Recognition in 2012. June 2012]
6 [Source: Brandon Hall Group. Learning & Development Benchmark Study.]
7 [Source: Brandon Hall Group. Learning & Development Benchmark Study.]
8 [BlessingWhite. Navigating Ambiguity: Career Research Report 2014,
9 [Source: PeopleFluent Survey. 2014]