Web of Engagement
Employee retention is one of the most important concerns for senior executives.Â However, little is being done to ensure the retention of the executives themselves.
As Crain's Chicago Business recently reported: While employers view the recovering economy with relief, workers are looking at it as an opportunity: the chance to jump ship.
According to the article, a recent national survey found 52% of all employees "would like to leave their jobs", and 75% of these said they wanted to do so in the next 12 months.Â Worse, these findings were true across all employment levels, from the Executive Team to the entry-worker.
So while many companies are beginning the necessary process of developing broad-based employee retention programs, what about the critical need for executive retention?Â What are the measure and the elements that can help ensure a deep commitment through engagement with the organization for the most senior leaders and managers?
St. Aubin, HaggertyÂ & Associates finds that engaging employees at every level, particularly among executive management, requires focusing on the six elements that form what we call:
The Web of Engagementâ„¢
Many companies primarily look to what we label the Organizational Elements of Engagement.Â These typically include:1. Internal Leadership Role2. Position3. Collaborative Network
While important, such efforts often miss the "heart" of engagement, assuming financial and external indicators of success are sufficient.Â
In our experience, financial and organizational rewards are not enough.Â Rather, the most successful programs engage employees at a deeper level, at the Personal and Emotional levels.Â Specifically they include three areas we label Individual Elements of Engagement:4. Passion for Work5. Human Connection6. External Leadership Role
One effective way to cement an executive's commitment to the organization is to provide opportunities for serving as an external ambassador of the corporation, such as on the Board of a community, or arts organization.Â When the executive is seen as a visible representative of the corporation, finding fulfillment in serving an external leadership role, the individual is less likely to leave.
To understand these six critical elements and how they are balanced by the needs of individual senior executives, corporations benefit in employing an independent third party.Â Confidentiality and objectivity are critical: from initial interviews, to creating overall retention strategies woven from individual executive engagement plans.
Need help with senior executive retention?Â Call us at 847.564.2840 or Contact Us.