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Incentive solutions that deliver results. 13 Feb 2015
Talent retention –A business imperative
SALES INCENTIVES|PERFORMANCE REWARDS|EVENTS COMMUNICATION|INCENTIVE TRAVEL
BRAZIL | EGYPT | GHANA |INDIA | INDONESIA | KENYA | MAURITIUS | NIGERIA | SOUTH AFRICA |SWITZERLAND | UGANDA
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We exist to help our clients,
and their people, WIN
MILLENIALS
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We exist to help our clients,
and their people, WIN
By 2020, millennials will be
50% of the global workforce.
WHY IS THIS IMPORTANT?
Millennials want a management style and corporate culture that is markedly different to that of baby boomers.
Millennials tend to be uncomfortable with rigid corporate structures and turned off by information silos. .
They have an affinity with the digital world. Technology and social media is their currency and everything else needs to fit. .
WHO CARES?
JUST HIRE ANOTHER ONE
OR NOT
To replace an engaged employee costs between
60%-200% of the employee’s total annual salary.
HOW IS THIS POSSIBLE?
Hiring is a time consuming process: each candidate needs to be carefully examined and considered
Training: new recruit training is an essential element in the hiring process
“Defection”: it is likely that if an employee leaves your organisation, they may be employed by a competitor
WHY DO PEOPLE ABANDON SHIP?
The reason that 95% of people leave their jobs is because they don’t feel valued.
No Engagement
Research shows that 70% of employees
are disengaged or actively disengaged.
If you compare your company to ten crew in a boat, only three of them are paddling to go forward, five are there for the ride, and two are actively trying to sink the boat.
MORE REASON WHY TALENT RETENTION IS AN IMPERATIVE
20-30% better than
those who don’t.
ROI: Businesses across the size spectrum that retain their top talent perform on average
Recent research has revealed that engaged staff are
480%more committed to helping the company succeed.
HOW TO RETAIN YOUR TOP TALENT
STRIVE TO BECOME A “BEST EMPLOYER”
Best Employers drive:
• higher engagement, • higher retention rate, • higher revenue growth, • Greater shareholder value• Consistent long term
performance.
LEAD FROM THE FRONT
Genuinely Care About & Recognise Your Workforce
By showing a real interest in your workforce you actively demonstrate that you value them and their contribution to the business.
Act With IntegrityLeaders actively living the values of their own company set a great example
Demonstrate Competence Teaching and mentoring demonstrate that the leadership is happy to invest in the future of the company
PRACTICAL TIPS TO START THE BALL ROLLING
• Build relationships and communicate with employees regularly• Build good recruitment processes• Build morale and provide a work environment that is
comfortable and pleasing• Build respect: it is important that employees respect their
direct supervisors as well as company leadership• Always, always treat employees fairly• Recognise and reward behaviour that reflects good work habits
This requires Introspection
Consultation with staff
Planning
Recognition & Reward programme(soft and hard rewards)
Proven Expert intervention
www.uwiniwin.net
Keep winning!