Boredom is one of the top reasons talented employees leave a business. Employees who feel restrained, disengaged, or bored are 2.5 times more likely to change jobs for as little as a 5% pay increase. However, only about a third of employees say they are engaged at work.
But boredom isn’t the only cause of talent flight. One in three employees say they don’t quit their jobs, they quit their managers. In fact, over 60% of employees reporting to ineffective managers consider quitting, versus only 22% who report to highly effective managers.
A business that engages their employees and offers them opportunities to expand and polish their skills, abilities, and experiences can outperform other companies in their field by up to 202%. So what proven coaching techniques can your business implement to help keep your employees engaged and help them feel valued?
- Millennials – the largest generation demographic in our modern workforce – typically want feedback 50% more often than other employees. They seek and expect feedback from their managers on at least a monthly basis.
- 81% of employees would rather work for a company that values “open communication” vs. one that offers perks like top health plans, free food, and gym memberships.
- Top drivers of employees’ perception of a great place to work are a belief that “Management shows a sincere interest in me as a person, not just an employee” and an organizational focus on employee development.
Clearly, organizations must promote effective coaching techniques and foster a positive business culture to engage and retain employees. To learn more about this connection between effective coaching and employee engagement, read Integrity Solutions’ recently published eBook, entitled Who Will Your Superstars Be in a Year?