employee engagement. 46 of their annual workforce turnover
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32%unreasonable
workload
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Solving the Retail Turnover Challenge:An Employee Engagement Story
Retailers face one of the highest employee turnover rates of any industry. To reduce churn and drive better business outcomes, you need to focus on retaining best-fit associates. It all starts with employee engagement.
Employeeburnout is a root cause of turnover
Source: Future Workplace LLC and Kronos Incorporated, Employee Engagement Series (November 2016).
Source: Future Workplace LLC and Kronos Incorporated, Employee Engagement Series (November 2016).
Source: Gallup, State of the American Workplace (2017), at 19.
Source: Gallup, State of the American Workplace (2017), at 68.
The top 3 contributors to employee burnout:
Ignore employee engagement at your own risk
Actively disengaged employees cost the U.S.
$483 – $605 billion each year in lost productivity.
Source: Gallup, State of the American Workplace (2017), at 68.
The cost of employee churn can add up quickly
The average cost per hire is $4,129.
Source: Gallup, State of the American Workplace (2017), at 68.
High employee engagement is good for business
Engaged employees show up and stick around
How can you help your employees feel engaged?
1. Treat them fairly• Pay them accurately every time• Give them ownership over managing their time• Apply work and pay policies consistently• Provide equal opportunities for overtime
2. Fuel empowerment• Invest in their performance and development• Demonstrate how their work impacts the business• Give them a platform to share their ideas• Enable them to be highly productive
3. Support flexibility• Provide appropriate time o�• Help them achieve work/life balance• O�er visibility into open shifts• Make it easy to request or swap shifts
Employee engagement requires a corporate mindset in which retail executives and frontline managers focus on the employee experience. Once this commitment is embraced, you can leverage human capital management (HCM) technology to execute and support your employee engagement strategy.
Download our white paper to learn how HCM technology tools can help you create engagement in your diverse workforce. Contact Kronos at +1 800 225 1561 or visit www.kronos.com/retail for more information.
41%unfair
compensation
HIGHLY ENGAGED BUSINESS UNITS REALIZE
AND
10%
BETTER CUSTOMER SATISFACTION
17%
HIGHERPRODUCTIVITY
21%
HIGHERPROFITABILITY
41%
lower absenteeism
21%
lower turnover
42 days It takes an average of
to fill an open position.
of HR leaders say employee burnout is responsible for up to half (20-50%) of their annual workforce turnover.46%
32%too much overtime/after-hours work