Engagement Proven to Boost Bottom Line in New Report
Quantum Workplace’s 21 Employee Turnover Insights report has delivered data proving that the level of employee engagement in an organization is a direct predictor of employee turnover. The report found that employees that are hostile or actively disengaged are almost four times as likely to leave as engaged employees. Part of the importance of the report’s findings is that previous studies have estimated the costs of losing employees to be between 16 and 213 percent of an individual employee’s salary, thus affecting not only retention rates but also an organization’s bottom line.
Key highlights from the report include:
• The average annual turnover rate is 12.9 percent.
• In 2013, 28 percent of employees are considered at risk for turnover.
• Risk for turnover is lower for new employees than for employees who have been employed for at least one year.
• Exited employees are much less likely to consider ways of doing their jobs better; about four times more likely than retained and engaged employees.
• The perceptions of engagement held by exited and retained employees differ the most in the areas of retention, manager effectiveness, and job satisfaction.