The Next Concept Human Resource Association (NCHRA), and Waggl, the leading platform for real-time feedback powered by Employee Voice, today released their newest “Voice of the Workplace” pulse on the subject of talent acquisition and retention.
Using Waggl’s transparent engagement platform, thousands of HR professionals from organizations of all sizes, including attendees of NCHRA’s HRTechXpo 2019, were invited to participate in the pulse from May 31-July 18, 2019. Of those who participated, 80% agreed with the following statement: “My organization would run more smoothly and productively if we could find a way to hold on to our best workers.” By way of contrast, only 48% of participants agreed with this statement: “My organization could grow faster if we could only hire more quickly.”
“Talent acquisition has long been a top priority for companies in many growth industries like technology, and in areas like the San Francisco Bay Area, where NCHRA and Waggl are based,” said Greg Morton, CEO, NCHRA. “In today’s business climate, many organizations feel that they have to recruit constantly in order to ensure that they have a steady supply of employees to handle an increasing volume of work. But the perpetual search for new talent often leads to a revolving door effect in which new hires aren’t fully utilized, and existing employees don’t feel truly valued. Interestingly, the HR practitioners who participated in this pulse seemed to be more interested in talent retention than in merely hiring for the sake of rapid growth. ”
In aggregate, only 27% of respondents in this pulse said that their organizations are using technology well to better attract and retain top talent. Participants from the technology industry responded slightly higher, with 32% saying that they are using technology well. Within the healthcare and hospitality industries, 77% said that they were open to exploring new technology solutions to better attract and retain top talent, outpacing the aggregate response of 62%.
NCHRA and Waggl also posed the open-ended question, “What can your organization do differently to better attract and retain top talent?” Crowdsourced responses were distilled into a ranked list. Here are the top five responses:
1. “Shift the culture towards employee purpose and how it aligns with our business strategy.”
2. “Be more proactive, rather than reactive.”
3. “They need to have better training and development. They do a great job for new hire training but it stops there. Looking at employee retention is an important aspect of the employee lifecycle.”
4. “Continue the onboarding process past day 1. Invest in smart, talented people and provide training and growth opportunities to create a career trajectory for each employee.
5. “Career/growth opportunities. Improve company culture/perks”
Dedicated to “Solving human problems at work through technology,” NCHRA’s HRTechXpo 2019 is an exciting event that offers attendees an unparalleled opportunity to discover innovative solutions from all the best tech companies in one place. HRTechXpo was held on Thursday, July 18 in San Francisco and will take place on Thursday, August 21 in Seattle.
Waggl is a powerful technology platform that allows organizational development and people leaders to harness the power of Employee Voice. By enabling fast, frequent, focused dialogue on the topics that matter most, Waggl goes beyond measurement to create true engagement.
“From the responses to this pulse, it’s clear that HR practitioners see the value of building purpose-driven organizations to retain top talent,” said Alex Kinnebrew, Chief Marketing Officer and Head of Growth Strategy, Waggl. “Most businesses have felt the pain of employee turnover at some point. If the root causes of those isolated incidents are not explored and addressed, those departures can turn into a slow leak of talent, coupled with a nagging sense that the remaining team is no longer as vital as it once was. The best antidote to this dynamic is active listening. Encouraging authentic feedback and inclusive and transparent communication leads to greater retention of top talent, and higher levels of engagement across the entire organization.”