A few weeks back I wrote about how retention/turnover will be the biggest challenge for HR leaders in 2017. Then Gallup released its State of the American Workplace report, which reveals that 51% of employees are actively looking for a new job or watching for openings. More employees have increasing optimism about outside opportunities and a “grass is greener” mentality.
But the picture isn’t so bleak. The state of turnover right now is pushing companies to innovate and transform their cultures to create a better employee experience that benefits both employees and employers.
One such company is Globoforce’s customer DENSO, one of the largest global automotive suppliers of advanced technology, systems, and components (no matter what vehicle you’re driving, there’s probably a DENSO part in it).
Here’s the back story: The automotive job market in Michigan is hot right now. DENSO noticed that some of its highly skilled engineers were leaving, causing the loss of institutional knowledge and bringing higher costs to the company.
DENSO brought together a cross-functional retention committee – including leaders from sales, engineering, and marketing – to see how recognition could improve manager/employee relationships and bring more transparency to how individual contributions connect to DENSO’s company goals. They chose to partner with Globoforce to create a peer-to-peer recognition solution called Spotlight, with a social newsfeed and robust backend reporting and actionable insights.
Michelle Korb, director of DENSO International America, Inc. human resources, will join Globoforce’s Lynette Silva to share more about how DENSO tackled the turnover challenge.
Here’s a sneak peek at the incredible results DENSO has seen so far. In three months, there have been 1,365 recognition moments in Spotlight. And on DENSO’s annual engagement survey, they saw:
- 8% increase in engagement score
- 9% increase in recognition score
- 10% increase in leader/relationship score
How One Company is Tackling the Turnover Challenge
Click To Tweet