Top Factor in High Employee Turnover
Dale Carnegie Training partnered with MSW ASR Research to conduct a workplace study on employee engagement. The study focused on identifying specific elements that can influence engagement within individuals at an organization. The findings will help organizations drive a culture of workplace engagement.
Employee engagement is absolutely critical to organizational success. One of the largest reasons why workplace engagement is so important is because it has a dramatic impact on employee turnover rates.
The graphic below illustrates how employees that are "actively engaged", "partially engaged", and "disengaged" respond when asked "Would you leave your job for a raise". Employees that are "actively engaged" are much less likely to leave an organization regardless of salary increase (within reason). While disengaged employees are out the door with as little as a 5% or cost of living raise. In highly competitive industries such as technology you can see how making sure your employee engagement levels are high can make the difference between success and failure.
The three employee engagement level groups have distinctive thresholds for changing jobs:
•Roughly one-quarter of the Fully Engaged would move for a 5% salary increase compared to 69% of the Disengaged
•However, about one-half of the Partially Engaged would be willing to change jobs for 5%
•Engagement improvement has a multiplier effect on lowering turnover costs