To stay competitive in employee engagement and productivity, you need to make sure that your organization is doing all it can do to recruit and retain the very best people.
High employee engagement means higher productivity and profits. Research by Gallup in 2012 found that publicly traded companies with 9.3 or more engaged employees for every disengaged employee had 147 percent higher earnings per share than their competitors. Meanwhile, companies with little engagement—2.6 engaged employees for every disengaged employee—had two percent less earnings per share than competitors.
Here are just a few emerging innovations in human resources.
Fedex People-Service-Profit. Employees at the overnight delivery company have always been encouraged to offer solutions, and their feedback is regularly requested. The Survey Feedback Action program is an annual survey where employees provide feedback on management policies.
Google People Analytics. The basic premise is that accurate “people management” decisions are the most important and impactful decisions that a firm can make. A company simply can’t produce leading business results unless managers are making accurate people management decisions. For example, People Analytics retention algorithm is a mathematical algorithm that proactively predicts which employees are most likely to become a retention problem, and spur managers to intervene early with personal contact.
Zappos Cash to Quit. The shoe and accessories retailer Zappos believes that great harm comes from hiring mistakes. So during the initial training of a new employee, Zappos offers to pay them for time spent training plus one month’s salary—and all they have to do is to quit. Roughly three percent take the offer, while the truly engaged new employees stay and thrive.
Amazon—the new owner of Zappos—has started its own Pay to Quit program. Once a year, Amazon’s employees get an offer for $2,000 to quit, with annual increases of $1,000 each year after that, with a maximum of $5,000.
Rolls-Royce Motor Cars Apprentice Program. No, it’s not a TV reality show, it’s the real thing. In 2006, the venerable British maker of luxury cars—now owned by BMW—launched its apprenticeship program, providing young adults between the ages of 16 and 24 the opportunity to train with the highly skilled members of the carmaker’s workforce. The apprenticeships can last for up to four years and involve extensive work under the keen supervision of master craftsmen, many with decades of experience.
Recent Comments