Steve Jobs has famously been quoted for saying “The only way to do great work is to love what you do.” Central to this is the concept of engagement – a concept that has been the focus of many research studies by both academics and consulting houses.
Reward and recognition have changed immensely over the last 20 or so years. As the Baby Boomers and Generation X begin leaving the workforce, special considerations need to be taken into account to accommodate Generation Y otherwise known as the Millennials.
Companies often focus on retaining star performers or leadership talent, overlooking pivotal roles – jobs that have a vast ability to create (or destroy) the value customers expect.
Competition among the most innovative companies is growing ever more heated for one of the most highly coveted resources on the market: talented employees. Unfortunately, a significant number of new hires slip away because of a poor initial experience with their new companies.
Over the past few years the debate about talent retention has been characterised as a debate about performance appraisal ratings – whether or not they are fair, and whether or not they achieve their stated objectives. But perhaps the spotlight needs to be focussed from a different vantage point, says Harvard Business Review.
The concept of employee engagement is often confused with satisfaction or happiness; however, the true definition is deeper in meaning. According to Aon, a global professional services firm that advises on the topics of risk and human resources, employee engagement is defined as “the level of an employee’s psychological investment in their organisation.”