Let’s start with this compelling statistic from Gallup: People who use their strengths every day are six times more likely to be engaged on the job.
Further, there is a correlation between using strengths, being engaged on the job and increased productivity. Data from Gallup indicates people that are using their strengths every day have 7.8% greater productivity.
CEO’s and other C-suite executives are in a race for talent. Once they are able to attract the talent (which in and of itself is difficult), some of the best leaders want greater employee engagement. Talent + high employee engagement is the equivalent of out-pacing competitors and building a successful, profitable organization.
At the same time, CEO’s are challenged by the modern workforce. Many of these employees are millennials who have high expectations of their employers. They want their job to have meaning and purpose. If their workplace doesn’t meet their expectations, they use their social network to find a new place to work. In fact, according to a Gallup report: a record 47% of the workforce say now is a good time to find a quality job, and more than half of employees (51%) are searching for new jobs or watching for openings. The cost of employee turnover is very high….in fact, it will often cost 2-3 times as much as an annual salary to replace an employee that left and hire and train a new employee.
The question becomes, how do CEO’s create organizations that understand and focus on employee and team strengths?
The best way to positively impact employee engagement and focus on strengths is through talented managers and directors. Front line managers and directors are the most vital link to whether employees are engaged and Gallup has found that building employees’ strengths is a far more effective approach to improving performance and productivity thank trying to improve weaknesses.
When employees know, and understand their natural talent, and combine that with their skills and knowledge, they are more engaged and perform better. If their direct supervisors are focused on their employees’ strengths, there is an added bonus: employees are less likely to leave the company.
But how do managers/directors know their employees’ strengths?
Automatically having the knowledge of someone’s natural abilities is largely a myth. Yes, some people are naturally good at figuring out what people like to do and have the skills and knowledge to perform. Oftentimes, employees and their managers don’t know their natural talents without an assessment. The Gallup StrengthsFinder is a great example of a scientific assessment that identifies talent which is defined as: naturally recurring patterns of thought, feeling and behavior that can be productively applied. Once a person’s talent is combined with skills and knowledge you can hone that talent into delivering near perfect performance. As stated previously, people that focus on their strengths are more productive and positively impact the bottom line. And the bottom line is, strength based organizations win in morale, retention and profitability.
In the next installment, we will cover the economic analysis of being a strengths-based organization. For more information about making the most out of your business check out our blog and call an Omaha lawyer, Sioux City attorney, or Sioux Falls lawyer today!