Today’s fast-paced business world is challenging to navigate, but we can all agree on one thing: employee turnover is unfavorable. Rehiring, retraining, and recovering from loss of revenue is not optimal for HR or your company’s bottom line.
First of all, employees don’t leave companies—they leave managers. In fact, 40 percent of disengaged employees said they were likely to leave their employer in the next two years, compared to only 18 percent of highly engaged respondents.
Most importantly, highly engaged employees are less likely to leave their employer than disengaged employees because leadership is the primary driver of engagement. Best-in-class companies require strong talent, but high-performing leaders are the catalysts to driving engagement and inspiring brilliant employee performance.
In a recent webinar, Mollie Lombardi, VP and Principal Analyst at Aberdeen Group, and Razor Suleman, Founder and Chairman at Achievers, discussed how powerful analytics, communication, and transparency help managers make better decisions that unleash their talent, and how companies measure this impact.
HR professionals today are all asking the same question: what does it take for companies to become best-in-class and unleash their talent?
Companies are focused on efficiency and cost-savings, but there is an opportunity for growth. It’s no secret that today’s skills shortages have companies scrambling to grow effectively; but they can’t just generate a purchase order and acquire the talent they need. It’s not that simple; these companies need high-performing leaders to drive engagement, so employees give discretionary effort and are aligned to company values, but also to drive performance, so employees are results-oriented and productive.
So, where do you start? Managers must understand what the business needs in order to make better decisions and unleash talent.
According to Lombardi, best-in-class companies provide visibility into the competencies and skills of their existing workforce. Managers need that analytics edge, so they can close the gaps between engagement and performance.
Unfortunately, many managers lack the tools they need to set goals, manage performance, identify and develop existing talent, and translate strategies into action.
Utilizing analytics to improve manager visibility into workforce data is critical; however, data is only so interesting, it’s all about putting analytics into action. Employee analytics, designed to support high-performing leaders, must drive what kind of action you want leaders to take. With the right kind of actionable insight, like automatic reports that illustrate team collaboration and results, managers are able to take action with confidence.
In order for managers to balance alignment and agility and become high-performing leaders, it’s crucial for them to understand what behaviors to reinforce that will impact the business most.
To learn more about transforming managers into high-performing leaders with employee analytics and actionable insight, request a demo of Achievers’ latest product release to help unleash your talent.