Thursday, April 8, 2010

How to retain and motivate employees in post-recession.

Cambridge-based consultant launches special offer package to help local companies retain and motivate key talent.

As local economic conditions start to improve, Cambridge businesses are beginning to switch their focus from survival to revival. And chances are, their staff will too. As employees begin to consider their career options, how can companies retain their key employees and enhance their motivation and productivity?

The answer lies in employee engagement: the way companies talk and listen to their people. Local consultant Sophie Jefferies specializes in helping organizations of all shapes and sizes do exactly that with a special offer package launched this week.

A report commissioned by the Dept for Business, published last year, reveals that
• Engaged employees are 87% less likely to leave their organization
• Engaged employees generate more revenue
• Higher levels of engagement relate to higher levels of innovation
• Engaged employees even take less sick leave

Most Cambridge businesses start small. At the outset much of their internal communication and engagement happens around the coffee machine. It is easy to stay in tune and keep everyone up to date.

As companies grow, particularly once they exceed a headcount of 30, those informal networks are just as important, but they become more complex and harder to tap into. Leaders need to work harder to engage and inform, particularly if employees feel their loyalty has been stretched by pay freezes or other economy measures during the downturn.

The good news is that there are lots of simple, cost-effective employee engagement solutions for organizations of all shapes and sizes, from simple management practices through to social media solutions. Whereas internal communications used to only be affordable for very large organizations, it’s now an essential for all. And this is particularly true for Cambridge businesses, where human capital is often one of their greatest assets.

The only problem lies in choosing and using the right engagement channels from the rather confusing array of options available.

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