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Employee Engagement ROIThe COVID-19 workplace brings more reasons to consider the high costs of disengagement and how data can help your employees thrive

COVID-19 has added significant new pressures on the workforce.  Safety and quarantine measures necessitated by the pandemic bring extra burdens (not to mention fears) on employees working in-person/frontline jobs. Others who made the sudden shift to working completely virtual- or home-based face new ways of working, increasing isolation and for some, added stress managing child-care and family demands.

Without an effective new hire experience and methods to connect and pinpoint problem areas that may be affecting employees, organizations may find themselves facing early turnover, or negative impacts on their productivity, customer experiences and overall success. That is why SkillSurvey recently launched SkillSurvey Post-Hire.

Gallup research finds that organizations scoring higher on employee engagement nearly double their odds of success compared with those in the bottom half. Median differences between top-quartile and bottom-quartile units were:

Quality and Performance

  • 70% in safety incidents
  • 58% in patient safety incidents
  • 40% in quality (defects)
  • 10% in customer ratings

Cost Savings

  • 24% in turnover (high-turnover organizations)
  • 59% in turnover (low-turnover organizations)
  • 28% in shrinkage
  • 41% in absenteeism

Business Outcomes

  • 21% in profitability

  • 20% in sales production

These numbers should convince you that making an investment in your employees’ engagement pays off big rewards.

Why organizations need to collect ongoing post-hire data across the employee lifecycle.

Most people who leave their jobs early were either in entry-level (43 percent) or intermediate level (38 percent) positions, according to a BambooHR study reported in Inc. Among the top reasons, new employees cited they felt “neglected, overwhelmed, under-appreciated, and underqualified.” And, this study was conducted well before the Coronavirus Pandemic.

Despite these statistics, when it comes to collecting effective post-hire data organizations tend to have too little, too late approach or a disparate array of employee check-ins. A SkillSurvey survey found that across various industries, only slightly half of organizations collect post-hire data. Most used a self-service survey tool with a manual process to compile or aggregate results.

Mirroring these results, another study reported 46% of respondents said that they do not measure employee engagement at all, and only 29% said that they have leaders who prioritize engagement.

Large enterprises tend to fare better, with 72% of organizations with 1,000+ employees measuring engagement levels.

Many companies also measure engagement through informal indices such as exit interviews, performance management, and one-on-one conversations with managers but these results are rarely aggregated or analyzed holistically. For example, HRTechnologist reports that nearly one out of five respondents said that they use six to ten measurement methods to evaluate employee engagement alone.

“The good news is that with advances in listening techniques, behavioral science, advanced analytics, two-way communication channels, and other technologies, leaders can now address employee experience in a more targeted and dynamic way,”  says a report by McKinsey & Company.

Gaining feedback at all steps in the employee lifecycle

1. Understanding recruiting

Why?

Historically, nearly 40% of new hires leave their job in the first year, twenty-two percent of those in the first month, according to studies by The Work Institute. This has led many to claim that the new hire experience is broken. And now, the new hire experience for many is via web conference, which makes it harder to meet peers, find mentors or simply find your way around.

Understand what recruiting practices work, why they work, and how well they work. One of the top reasons new employees leave is because they don’t feel they’re qualified for the job. Evaluating your recruiting or hiring process can help you identify if your job descriptions are out of sync, or if your interview teams are focusing on the wrong skills.

  • Only about a third of U.S. companies report that they monitor whether their hiring practices lead to good employees.

2. Understanding onboarding and rethink your process to include longboarding or reboarding

Why?

Is your onboarding once and done? For example, a day or two of endless introductions or presentations on policies and instructions or training and then that’s it? After that are new employees left on their own to figure things out? As employers transition to a post-COVID world is reboarding needed? 

  • According to Gallup, only 12% of employees say their organization does a great job of onboarding

3. Understanding Engagement from both the employee and their supervisor

 Why?

Get feedback from employees and their supervisors early and often. Automate a schedule at 30/60/90+ days and track results over time. Understand whether employees are feeling engaged and identify bottlenecks. According to an HRTechnologist survey:

  • More than half of exiting employees (60%) talked with someone about their intent to leave before they decided to leave their last job.
  • 52% of exiting employees say that their manager or organization could have done something to prevent them from leaving their job

4. New Hire and Ongoing Employee Surveys

Why?

Companies are holding onto outmoded approaches like once-a-year surveys. 73% of respondents in the HRTechnologist survey said that they use annual surveys to measure engagement.

Continual feedback is better, especially in today’s environment that requires more of employees – those who are in physical locations and those adapting to being remote.

More than 75% of respondents believe that feedback is valuable.

5. Exit evaluations

 Why?

Too often, exit interviews are not conducted in a way that prompts a departing employee to feel comfortable providing honest feedback. HR or interviewers may not really want to report the bad news.

“The benefits of conducting exit interviews depend on asking the right questions, though. And, getting useful feedback that is actionable. Exit interviewing may seem like something anyone can do, but survey design is easy to bias unintentionally,” says this Gallup blog post)

The value of an all-in-one Post-Hire solution

SkillSurvey Post-Hire enables organizations to gather data at critical stages of the employee lifecycle. Proven I/O science backs our solutions.

With insights at your fingertips, you can uncover valuable insights and identify problem areas to boost engagement.

SkillSurvey Post-Hire provides deep insights on people and key processes, through scientifically established sets of surveys and questions created by I/O psychologists for every step of the employee lifecycle. See how it can improve your bottom line.

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