The labor market is tighter than ever: 51% of employees are open to a new job. Turnover has risen to an average of 20.3%, and replacing an employee can cost up to 150% of the annual salary, especially for top performers. For a mid-level or senior colleague, this quickly adds up to €80,000. Companies need real-time insight into employee engagement to manage turnover. However, current measurement methods such as annual employee surveys don't provide real-time insight, causing companies to fall behind rapid market changes.
Research by Gallup also shows that 10 to 20% of employees within an organization are responsible for achieving the most important results, the greatest successes, and the best innovations. This group is often identified as high performers. It is therefore crucial for organizations to get a grip on employee turnover, especially top performers. An important tool to gain insight into the intention to leave is employee engagement. When this is lower, an employee has a greater chance of leaving the organization. In recent years, many different solutions have emerged to measure employee engagement. From consulting organizations to specialized survey solutions.
In this e-guide, we reveal why many of these methods fall short and how Learned offers an effective solution. Why an annual employee survey doesn't give you real-time insight into high performers and how you can retain them.