What would it mean to your organization if you started to tap into the hidden goldmine within your company? What if you had unrealized potential in your current staff? If you were able to tap into this, how much greater employee productivity, retention and creativity would you have?
Trying to address these employee issues that are plaguing many of today’s companies has been one of the biggest challenges in today’s business. It’s even more critical for mission-driven organizations.
Despite decades of corporate training courses, executive coaching, and business consultants, the problems of productivity, retention and creativity still exist.
In my M.O.V.E. the MissionTM Model, “M” is Mission Alignment and “O” is Optimized Talent. In my 12 years as M.O.V.E. the MissionTM Mentor – and 25+ years consulting experience – I have discovered the missing link. There hasn’t been a full commitment in a program to optimize talent across all strata of the organizational ladder. If competition remains the core value within team structure, it can be a killer of productivity, retention and creativity.
The old value of getting the best out of your people through competition, pitting each employee or team against another, and brow beating staff to work harder is unproductive and out-of-date. It may have worked for Baby Boomers and Generation X, however, you’re finding it doesn’t fly with Generation Y and Z. Values have changed, so in order to not only survive but thrive requires changing the way you optimize your talent.
If this is something you’ve been dealing with in your mission-driven organization, the good news is you’re not the only one. But the problem is, it’s a big problem.
This problem is costing hundreds of billions of dollars
According to Gallup poll research, the U.S. economy absorbs between $450 and $550 billion a year in productivity losses because employees feel disengaged, disempowered, and unfulfilled. Yep, that’s a pretty big number. The question is, what’s that number within your company?
Research on employee retention rates has also revealed staggering numbers in the last few years. In May of 2019, Forbes (based on numbers from Achievers) shared that only 35% of employees were looking for new jobs, a drastic decrease from 74% a year prior.
So back to the question of what these retention rates could be costing you. According to Gallup, disengaged employees have 37% higher absenteeism, 18% lower productivity and 15% lower profitability. When that translates into dollars, it’s estimated at 34% of the disengaged employee’s annual salary. That’s a whopping $3,400 for every $10,000 that employee earns.
And you guessed it. That was before COVID hit.
2020’s new challenges…
Now, the ultimate question is how do you increase your employee retention, all while you are doing business amidst a global pandemic with teetering national and global economies. The daunting part is if you don’t improve employee retention, where will your company be in one year… five years… or ten years down the road. Then, there’s the growth of A.I. (Artificial Intelligence) and its impact on the future workforce.
The old way of doing things just isn’t cutting it…
So let’s get back to scenarios that traditional business has tried putting into place… rather unsuccessfully, that is. In some cases, management feels employees are well-paid for their skills. In other cases, employees are recipients of perks, bonuses and rewards, yet productivity is still flatlining. Still yet, some companies believe their employees should be grateful to have a job in today’s workplace.
In most cases, the reason this isn’t working is the result of applying old values (for older generations) to younger workers, such as Generation Y and Z. You’re probably well aware that if it continues, your company will not grow, or worse yet, will not even stay competitive.
Unleash your hidden goldmine…
The solution to optimizing your organization’s talent lies in unleashing huge potential you already have in your storehouse. Here’s an important piece: there’s a whole new way to tap into it.
As the M.O.V.E. the MissionTM Mentor, optimizing talent through employee engagement is one of the fundamental pieces of my program. Once you unleash this hidden goldmine in your organization, your bottom line will never be the same!
As the M.O.V.E. the MissionTM Mentor, I teach mission-driven organizations how to unleash, ignite and engage their talent. It’s Optimized Talent and it’s the second (and vital) part of my M.O.V.E. the MissionTM Model.
Increasing your staff’s productivity, engagement and retention is totally within your reach. There are a few ingredients to this formula, though, which I can walk you through after decades of hands-on experience. To achieve this, it means your willingness to see this challenge from a totally new perspective. It’s okay, helping shift perspectives is my specialty.