Employee retention is essential to an organization’s success. High turnover not only hurts your bottom-line, but also damages morale among remaining employees. As the economy grows stronger and job creation continues to accelerate, workforce retention is becoming more and more important. The quit rate is quickly approaching levels not seen since before the economic recession. Thanks to renewed confidence in the labor market, employees are seeking new opportunities in order to advance their careers.
So, you’ve purchased the extra laptops, invested in remote workspace technology and developed a flexible work schedule. You’re all ready to take a step back and let your organization’s telecommuting program take off, right? Wrong.
Simply putting the technology in place and enabling your employees to work at home will not automatically result in a productive business. In order for your flexible work initiative to be successful, your organization requires effective and engaging management. With team members in and out of the office, it is extremely important that leaders create a sense of connectivity and comradery.
There is a growing movement within the business world toward authentic leadership. Just what is this emerging new style of leadership and how can business leaders adopt it?
As Margaret Resce Milkint, Jacobson’s managing partner, discussed in our latest edition of Compass, employees are looking for a new kind of business leader. Having experienced drastic labor cuts, dishonest business practices and more, there is a growing feeling of distrust in business leaders. Professionals are demanding trustworthy leaders who they can put their faith in.
The dog days of summer are here and with them come ice cream socials, trips to the beach, softball games, and backyard barbeques. As the weather heats up, many organizations are seeing their employee engagement drop. According to Captivate Network, the “lazy days of summer” often have a significantly negative impact on the workforce. Organizations report a 20 percent drop in productivity and a 15 percent increase in project turnaround times. In addition, there is an uptick in distracted workers by 45 percent and a drop in attendance by nearly 19 percent.
The work-at-home movement is taking off within the business world. Already, it is estimated that 30 million professionals in the U.S. are working from home at least once a week. According to a study by the Telework Research Network, that number is expected to increase by 63 percent in the next five years. While The Jacobson Group has had a few employees working from home for over a decade, we just officially launched a companywide telecommuting program.
Jacobson has come face to face with some immediate growing pains after expanding far beyond what we originally anticipated when we signed the lease for our new Chicago headquarters a few years ago. While this is a good problem to have, the reality is that we are running out of desks for all of our exceptional employees and are implementing a work-at-home policy for qualified staff.