Intuitively, CEOs, leaders, managers and HR professionals know that the right people and strong leadership are critical to business success. But too often, limited resources are directed to urgent projects, such as upgrading manufacturing, cybersecurity or shareholder return.
The most effective leaders, especially human resources professionals, are able to use information to convince organisations, executive teams and boards of the value and financial benefits of their recommendations.
Use these 10 facts to justify your next critical human resource initiative.
- Research focusing on millennial workers indicates that regular 1:1 meetings and real-time feedback is more effective than formal performance management processes, reducing attrition by 14.9%. (’25 HR trends to watch out for in 2022′)
- It takes an increase in salary of at least 20% to lure an engaged employee from a leader they are inspired by. (‘The “great resignation” is really the “great discontent”‘)
- Employer Value Proposition is no longer just a ‘nice to have’ – 83% of candidates will research potential organisations and managers before applying for a role. Your reputation counts. Leading organisations are able to leverage social media to promote leadership and employer reputation. (’25 HR trends to watch out for in 2022′)
- The cost of replacing an employee is significant, from at least 30% up to 150% of their annual remuneration. (‘How to calculate your employee turnover costs’)
- 43% of employees are worried about their mental health and the impact of work and life stress. (’25 HR trends to watch out for in 2022′)
- The global pandemic has detrimentally affected women more than men in the workplace. (‘Seven charts that show COVID-19’s impact on women’s employment’)
- Less engaged teams experienced average turnover rates that are anywhere between 18% and 43% higher than those experienced by well engaged teams. (‘The “great resignation” is really the “great discontent”‘)
- The number one reason people quit is due to toxic leaders and toxic cultures. Specifically, ‘push’ factors include a lack of diversity and inclusion in the workplace, a sense of being disrespected, unethical and even abusive behaviour from leaders, and a highly competitive and unsupportive environment. (‘This is the biggest reason people quit—and it’s 10 times more important than pay’)
- Women and middle managers are leading the great resignation wave. (‘Why is middle management leading the great resignation?’)
- Executive coaching has a 788% ROI from increased productivity, improved business outcomes and increased employee engagement and retention. (‘The ROI of executive coaching’) (‘What we can learn from the research literature’)
How is Peeplcoach helping?
The measurable results achieved by organisations we have worked with include:
- an average score of 9.1/10 for coach satisfaction
- an improvement of +38.2% in positive responses to the statement ‘I believe I can achieve my career goals in this organisation’
- a decrease of -41.8% in positive responses to the statement ‘I would leave for a similar role’
- a 9.6/10 post-program score in responses to the question ‘Would you recommend Peeplcoach programs to others?’
- 2000 x ROI on our sales program.