Tag: Insights

Employee retention: Do you have a good forecast on how your company will weather the storm of the Great Resignation?

The statistics are powerful- according to a recent report out from CNBC, roughly 1 in 3 workers are now considering leaving their job. The estimated cost of a valued employee leaving your organization is estimated to be one and one half times their salary.  The dollars add up not to mention the impact on your customers. At M3, we see the tremendous concern and overwhelming challenges organizations are experiencing recruiting and retaining top talent. Never have we experienced such a radical change in the workforce and the M3 team felt compelled to shift the outlook for struggling leaders, giving them the tools they need to tackle the challenges of these times.   

At a time when a guiding compass is needed most, we’re applying our research and team of experts to create Workforce EQ, a new service that provides companies with a proven method to identify gaps that may lead to talent loss or team burnout. Workforce EQ is a powerful tool that goes beyond resources and surveys, coupling a leader’s care and concern for their team with top HR leaders that will be a key partner in guiding organizations through such challenging times.

Why investing in your employees saves you money over time:

How do we create a plan:

With Workforce EQ clients will have a trusted neutral partner to uncover those areas that are not coming up in engagement surveys and internal meetings.This new service analyzes performance in the key areas that affect recruitment and retention and creates a custom action plan.

We review your company’s current approach to the following areas:

  • Talent acquisition and retention strategy
  • HR capabilities
  • Leadership development
  • Internal policies and procedures for hybrid, remote, and/or in office work
  • Organizational effectiveness in fulfilling your mission and core values

Workforce EQ helps companies understand their greatest opportunities for improvement and then matches them with an HR expert to tackle these areas, leading to higher levels of recruitment, engagement and retention.

How to start planning today:

Schedule an initial meet and greet with Mary Malone at http://eq.m3placement.com/

Employee Expectations are Changing. Is your Organization Prepared?

COVID-19 has redefined the workplace. Many companies are doubling down on their efforts to adapt and support the changing needs and expectations as the workplace environment continues to evolve.  From hybrid and remote work expectations, to work-life balance, employees and leaders alike have all been fast at work learning what strategies are successful in embracing the changes in today’s working world for success in business.

Nearly 25% of American Workers are planning on looking for a new job once the pandemic is over.  53% say they would switch to an entirely new industry if they could retrain.  What is behind the shift? Top reasons include compensation, work-life balance and limited growth opportunities.  It’s crucial for leaders to remain at the forefront of the changes to continue to attract, retain, and support their top talent.

What can companies do to stay on top of all of these changes?

Listen.  Fully understand the needs, challenges, and desires of team members in order to evaluate the culture.  One on one interviews and peer focus groups are particularly helpful in drawing out themes that cannot be identified by a leader within a company.  Individuals tend to be more open to trusted third party advisors.  Once themes have been identified, they turn into opportunities!

Support.  Training, Development and Coaching are all critical in enhancing personal and professional satisfaction.  That translates into retention.  Turnover is costly, so if support is given on an ongoing basis, your organization is positioned for growth and success.

Strengthen.  Use information, insights and findings to continue to evolve and grow.  Establish processes to take advantage of the opportunities uncovered in the listening stage.  When processes are strong, confidence is high as everyone understands what to expect.

Do you have an expert to guide you through these changes?  Partner with M3 for a program that strengthens your business to thrive in a post-pandemic world. M3 takes a customized approach to address the work environment, policies and dynamics of your organization.  The Workplace Experience Program will equip your leaders with skills that are in demand as employee expectations continue to evolve. Reach out at hello@m3placement.com for program details.