Washington, D.C. – July 12, 2011 – The Human Capital Institute (HCI), the global association for strategic talent management, announced today the findings of a Signature Research on Engagement and Retention. The findings were revealed at the sold-out 2011 HCI Engagement & Retention conference held in Chicago and the research was developed in partnership with Lee Hecht Harrison (LHH), a talent management solutions company.
This original research report explores the topic of “Comprehensive Career Development as a Catalyst for Employee Engagement” and examines the relationship between career development strategies and employee engagement in the current economic environment and talent landscape. This research builds on the body of work centered on the impact that employee engagement can have on talent retention, organizational productivity and overall performance. It uncovers true levers that affect employee engagement in the modern organization – namely career development and planning.
Today’s organizations look different than they did five years ago – traditional hierarchies don’t exist as they once did, and firms have gone through a “flattening” process in an effort to contain costs and streamline processes. This has had a dramatic effect on the way that today’s worker relates to his/her organization, understands his/her role in that organization, and plans his/her career within the organization. In addition, with signs of economic recovery on the immediate horizon, organizations are becoming acutely aware that their top talent is beginning to look elsewhere for career opportunities that will satisfy their needs for career growth, development and advancement. Employment opportunities that simply did not exist only a few short years ago are becoming increasingly available. Organizations that are committed to talent retention must consider the risk that this economic shift poses, and adapt specific human capital strategies that will have the greatest impact on engagement and, eventually, retention.
The report describes the important impact that these economic changes have had on the talent landscape and provides recommendations for organizations to implement in order to enhance career development and therefore, ultimately increase employee engagement and retention. A 36-item survey exploring the post-recession talent landscape, employee engagement drivers, and career development programs was developed and distributed to more than 10,000 HCI members to produce the foundational knowledge for this research. More than 440 responses were received from organizations around the world and the data reveals a unique split between types of organizations that have engaged employees and satisfactory retention rates (Top Performing Organizations — TPOs) versus those that do not (Poor Performing Organizations — PPOs).
HCI and LHH will host a webcast in September 2011 to present the findings of the research in greater detail. The full report will be available for download on http://www.hci.org at that time.