6 keys of employee success

jobs, the average cost of replacing an employee amounts to 20 percent of the person's annual salary.. ac · com · mo · date59 percent of employees say accommodations—like a company tour

6 Keys of Employee Success

W H Y I T M A T T E R S F O R B U S I N E S S G R O W T H

1 Employee turnover is expensive.

2 Unhappy employees are dangerous.

3 Successful employees → business growth

Employee Success

For all jobs earning less than $50,000 per year, or more than 40 percent of

U.S jobs, the average cost of replacing an employee amounts to 20 percent

of the person's annual salary

Among positions earning $30,000 or less, which includes more than half of

all U.S workers, the typical cost of turnover is 16 percent of annual salary.

—Center for American Progress, 2012

Employee Turnover

U N H A P P Y E M P L O Y E E S A R E :

Unhappy Employees

Unproductive

Disengaged, unhappy employees cost the American economy up to $350 billion per year due

to lost productivity —Gallup

Research indicated a distinct link between employee attitudes and a company’s financial performance, employee retention and customer loyalty

—Gallup

Successful Employees

6 Things Your Employees

Need to Succeed

1 Onboarding

2 Mentorship

3 The Right Position

4 Training and Education

5 Reward and Recognition

6 Ownership and Purpose

Accommodate Assimilate Accelerate

G E O R G E B R A D T ’ S T H R E E ‘ A ’ S O F O N B O A R D I N G :

1

ac · com · mo · date

59 percent of employees say accommodations—like a company

tour, equipment setup and review of procedures—are one of the

most important things to receive in the first week on a new job

—BambooHR Onboarding Study

as · sim · i · late

Company expectations

23 percent of employees who left companies early on would have stayed if

they had “received clear guidelines on what their responsibilities were.”

—BambooHR Onboarding Study

Company culture

“People will typically be more enthusiastic where they feel a sense of

belonging and see themselves as part of a community than they will in a

workplace in which each person is left to his own devices.”

―Alfie Kohn

ac · cel · er · ate

The top things new hires said would help them be productive more quickly were:

1 On-the-job training

2 Review of the company’s policies

3 Review of administrative procedures

4 Assignment of an employee “buddy” or mentor

—BambooHR Onboarding Study

Mentoring helps make employees more successful in their roles

and careers:

According to a national survey of Fortune 500 executives, 96 percent said

mentoring is an important developmental tool, and 75 percent said it played a

key role in their personal career success.

2

• 77 percent of companies reported that mentoring increased retention

different job within 12 months

—Pew Public/Private Ventures Impact Study

Employees who received mentoring were promoted FIVE times more often than people who didn’t have mentors

Mentors were SIX times more likely to have been promoted

to a bigger job.

—Sun Microsystems

Mentoring makes

The Right Position

“Job fit isn’t one of those warm and fuzzy concepts that you

implement because it makes people feel better…job fit positively

affects performance, eliminates costly mistakes in hiring, lessens

turnover, and can even be used to attract talent.”

—Pamela Holloway, co-founder About People

3

Keys to finding the right fit:

1 Exceptional, continuous communication

2 Mapping skills and capacity

3 Culture fit

Employee Alignment :

“An aligned organization gets things done faster, with less effort,

and with better results, and is more agile and responsive to

changing business conditions.”

Linking of organizational goals with the employees' personal goals

Requires common understanding of purposes and goals of

the organization, and consistency between very objective and plan.

—Business Dictionary

Companies investing $1,500 or more per employee per year on

training average 24 percent higher profit margins than

companies with lower yearly training investments

—HR Magazine

4

• Have 218 percent higher income per employee than those with

less comprehensive training.

• Generate a 6 percent higher shareholder return if the training

expenditure per employee increases by $680.

—The American Society for Training and Development (ASTD)

Companies that offer

40% of employees who receive poor job training leave their positions within the first year.

—Go2HR

Reward and Recognition

“Whenever you’re recognized and praised for any accomplishment

by someone whose opinion you hold in high regard, your self

esteem goes up along with your eagerness and enthusiasm to do

an even better job.”

—Brian Tracy

5

Reward and recognize the right things

“We are what we repeatedly do Excellence then, is not

an act, but a habit.”

—Aristotle

It’s not

44 percent of employees say financial rewards increase their

engagement at work; while 63 percent said intangible

(recognition) increases their engagement.

—“A SHRM Perspective on International Compensation” Hay Group

73 percent of employees who say they work at a driven" company are engaged, compared to just 23 percent

"purpose-of those who don't.

—Deloitte

6

90% of people who believe their organization has a strong sense

of purpose also report a strong financial showing in the business

over the past year They also report high employee and customer

satisfaction

Only 65% of respondents who say they work for an organization

without a strong culture of purpose report a good financial

performance in the company

financial performance

“Employees thrive when they are given a sense of ownership to

accomplish their work with fewer approvals and checkpoints,

and with a smaller degree of intervention and oversight

Company leadership and workers both succeed when employees

are allowed to own and solve problems in an innovative way

Giving someone the opportunity to “break the mold” and create

new ways to address a challenge is highly fulfilling.”

—Josh Cohen, Forbes Contributor

6 Things Your Employees

1 Onboarding

2 Mentorship

3 The Right Position

4 Training and Education

5 Reward and Recognition

6 Ownership and Purpose

What can I do today to increase employee success?

H R ’ S K E Y P E R F O R M A N C E I N D I C AT O R S

Thank you !

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