How HR Consultants Drive Employee Engagement and Retention

Introduction

Employee engagement can be defined as the level of commitment and motivation an employee has towards helping their organisation reach its goals.

For your people to give their best, they need to believe that your company is aiming for the right goals — both from an economic standpoint and a social one — and that their own individual function is essential in helping reach those same objectives. They need to believe their best work is both recognised and valued. Great employee engagement and good retention are critical for the success of any business. Consider the following:

• According to Gallup, an engaged workforce creates 23% more profitability than a disengaged workforce. So if you have employees earning an average $100K per year, there is a $23K advantage per employee in having great engagement.
• It costs between 50% and 150% of salary to replace an employee who has voluntarily resigned; this includes the cost of recruiting, the time taken, the cost of induction and the lost productivity of a vacancy and during the training period. So if you lose 10 people a year earning $100K, that’s a $1million cost.

So if engaged employees are more productive and loyal, how do you as a business owner or leader achieve and maintain and improve employee engagement? 

This is where HR consultants can play a crucial role and create their greatest return on investment for your organisation.

What is Engagement?

Often described as a measure of discretionary effort, engagement can also be categorised by the “Three S’s”:

1. What do your employees SAY about your organisation; are they advocates for what you do?
2. Do they STAY? What is your retention rate?
3. How much do they STRIVE? This is the discretionary effort we have mentioned.

With this in mind, how do you go about creating an engaged team of people? 

This is where your HR Consultant can really help. Looking at just a few of the major functions an HR Consultant will manage and you can see the impact they can have on your engagement and retention:

• Hiring: Developing a great Employee Value Proposition (EVP) to ensure you are attracting and recruiting the best people you can possibly afford.
• Employee relations: Addressing employee concerns, having fair and effective systems for managing employee performance and resolving conflicts quickly, effectively and with fairness.
• Compensation and benefits: Designing and administering competitive compensation and benefits packages.
• Training and development: Identifying training needs, developing and delivering training programs, and evaluating training effectiveness.

How HR Consultants Drive Employee Engagement

Your HR consultants will have a variety of strategies to implement the above strategies including:

• Conducting employee surveys: Regularly surveying employees to gather feedback on their job satisfaction, engagement levels and overall well-being. This data can be used to identify areas for improvement and track progress over time.
• Developing employee recognition programs: Implementing programs to recognise and reward employees for their contributions. This can include recognition awards, performance bonuses and informal public praise.
• Creating a positive work environment: Fostering a positive and inclusive work environment where employees feel valued, respected and supported. This can involve promoting open communication, encouraging teamwork and addressing any issues of discrimination or harassment.
• Offering professional development opportunities: Providing employees with opportunities to learn and grow through secondments, training programs, workshops and mentorship programs. This can help employees develop new skills, advance their careers and feel more invested in their work.
• Improving communication: Enhancing communication between management and employees through regular meetings, team-building activities and internal communication channels.

Are a business owner or manager looking to improve your company's HR practices?
Book a Discovery Session with Employee Matters and let us take you through how we can help you create real business success through your people.

How HR Consultants Drive Employee Retention

HR consultants can also help businesses improve employee retention by:

• Conducting exit interviews: Conducting exit interviews with departing employees to understand their reasons for leaving. This information can be used to identify and address any underlying issues that may be contributing to high employee attrition.
• Developing competitive compensation and benefits packages: Offering competitive salaries, benefits and perks to attract and retain top talent.
• Providing opportunities for career advancement: Creating clear career paths and providing opportunities for employees to advance within the company.
• Investing in employee well-being: Promoting employee well-being by offering programs such as on-site fitness centers, wellness challenges and stress-management workshops.

Benefits of Working with an HR Consultant

There are many benefits to working with an HR consultant, including:

• Increased productivity: Engaged employees are more productive, which can lead to increased revenue and profitability.
• Reduced attrition: High employee retention rates can reduce costs associated with recruitment, training and onboarding new hires.
• Improved employee morale: A positive and engaging work environment can boost employee morale and create a more positive workplace culture.
• Access to expertise: HR consultants have the expertise and experience to help businesses navigate complex HR issues and implement best practices.
• Cost-effective solutions: Working with an HR consultant can be more cost-effective than hiring an in-house HR department, especially for small and medium-sized businesses, and for larger organisations that are going through rapid growth or other such high-pressure phases.

Choosing the Right HR Consultant

When choosing an HR consultant, it is important to:

• Define your needs: Determine the specific HR challenges you are facing and what you hope to achieve by working with a consultant.
• Research potential consultants: Research different HR consulting firms and read client testimonials.
• Compare HR Consultants against your specific needs: HR Consultants have a wide range of skills, so be sure to check that the HR consultancy firm you choose can meet all of your defined needs.
• Establish clear expectations: Clearly define your expectations for the engagement, including deliverables, timelines and budget.

Summary

Employee engagement and retention are critical for the success of any business. By working with a great HR consultant, organisations can implement strategies to improve employee engagement, reduce employee attrition, and create a more positive and productive workplace culture.

If you are a business owner or manager looking to improve your company's HR practices, book a Discovery Session with Employee Matters and let us take you through how we can help you create real business success through your people.

Alternatively, you can reach us at:

• Email: info@employeematters.com.au
• Phone: (02) 8021 4206

Employee Relations Legislation Changes Hub

There is a significant amount of mandatory Employment Relations legislative change that impacts you and every other business in Australia now. Our resource hub is designed to help you understand these wide-ranging changes.

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