6 Keys Of Employee Success

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6 Keys of Employee Success: Why it matters for business growth
6 Keys of Employee Success
W H Y I T M AT T E R S F O R B U S I N E S S G R O W T H

Ben Peterson
C O - F O U N D E R A N D C E O ,
B A M B O O H R
Chad Halvorson
F O U N D E R A N D C E O ,
W H E N I W O R K
J O I N T H E C O N V E R S A T I O N O N T W I T T E R U S I N G # B A M B O O H R

1. Employee turnover is expensive.
2. Unhappy employees are dangerous.
3. Successful employees → business growth
Why We’re TalkingAbout
Employee Success

For all jobs earning less than $50,000 per year, or more than 40 percent of
U.S. jobs, the average cost of replacing an employee amounts to 20 percent
of the person's annual salary.
Among positions earning $30,000 or less, which includes more than half of
all U.S. workers, the typical cost of turnover is 16 percent of annual salary.
—Center for American Progress, 2012
Employee Turnover
Is Expensive

U N H A P P Y E M P L O Y E E S A R E :
Unhappy Employees
Are Dangerous
Unproductive
Disengaged, unhappy employees cost the American economy up to $350 billion per year due
to lost productivity. —Gallup
Disloyal
90% of employees are willing to consider changing jobs, and unsatisfied employees are 11
times more likely to move to a new organization in the next year. —24 Seven
Disengaged
63% of employees are "not engaged," meaning they lack motivation and are less likely to
invest discretionary effort in organizational goals or outcomes. And 24% are "actively
disengaged," indicating they are unhappy and unproductive at work and liable to spread
negativity to coworkers.

Research indicated a distinct link between employee
attitudes and a company’s financial performance,
employee retention and customer loyalty.
—Gallup
Successful Employees
= Business Growth!

6 Things Your Employees
Need to Succeed
1. Onboarding
2. Mentorship
3. The Right Position
4. Training and Education
5. Reward and Recognition
6. Ownership and Purpose

Onboarding
Accommodate
Assimilate
Accelerate
G E O R G E B R A D T ’ S T H R E E ‘ A’ S O F O N B O A R D I N G :
1

ac·com·mo·date
59 percent of employees say accommodations—like a company
tour, equipment setup and review of procedures—are one of the
most important things to receive in the first week on a new job.
—BambooHR Onboarding Study

as·sim·i·late
Company expectations
23 percent of employees who left companies early on would have stayed if
they had “received clear guidelines on what their responsibilities were.”
Company culture
“People will typically be more enthusiastic where they feel a sense of
belonging and see themselves as part of a community than they will in a
workplace in which each person is left to his own devices.”
―Alfie Kohn

ac·cel·er·ate
The top things new hires said would help them be productive
more quickly were:
1. On-the-job training
2. Review of the company’s policies
3. Review of administrative procedures
4. Assignment of an employee “buddy” or mentor

Mentoring
Mentoring helps make employees more successful in their roles
and careers:
According to a national survey of Fortune 500 executives, 96 percent said
mentoring is an important developmental tool, and 75 percent said it played a
key role in their personal career success.
2

• 77 percent of companies reported that mentoring increased retention.
• 35 percent of employees who receive no mentoring will look for a
different job within 12 months.
—Pew Public/Private Ventures Impact Study
Mentoring promotes loyalty
and retention:

Employees who received mentoring were promoted FIVE
times more often than people who didn’t have mentors.
Mentors were SIX times more likely to have been promoted
to a bigger job.
—Sun Microsystems
Mentoring makes
stronger teams:

The Right Position
“Job fit isn’t one of those warm and fuzzy concepts that you
implement because it makes people feel better…job fit positively
affects performance, eliminates costly mistakes in hiring, lessens
turnover, and can even be used to attract talent.”
—Pamela Holloway, co-founder About People
3

Keys to finding the
right fit:
1. Exceptional, continuous communication
2. Mapping skills and capacity
3. Culture fit

Employee Alignment:
“An aligned organization gets things done faster, with less effort,
and with better results, and is more agile and responsive to
changing business conditions.”
—Torben Rick
Linking of organizational goals with the employees' personal goals.
Requires common understanding of purposes and goals of
the organization, and consistency between very objective and plan.
—Business Dictionary

Companies investing $1,500 or more per employee per year on
training average 24 percent higher profit margins than
companies with lower yearly training investments.
—HR Magazine
Training and Education
4

• Have 218 percent higher income per employee than those with
less comprehensive training.
• Generate a 6 percent higher shareholder return if the training
expenditure per employee increases by $680.
—The American Society for Training and Development (ASTD)
Companies that offer
comprehensive training:

40% of employees who receive poor job training leave
their positions within the first year.
—Go2HR
Training increases
retention:

Reward and Recognition
“Whenever you’re recognized and praised for any accomplishment
by someone whose opinion you hold in high regard, your self
esteem goes up along with your eagerness and enthusiasm to do
an even better job.”
—Brian Tracy
5

Reward and recognize
the right things.
“We are what we repeatedly do. Excellence then, is not
an act, but a habit.”
—Aristotle

It’s not
all about the money.
44 percent of employees say financial rewards increase their
engagement at work; while 63 percent said intangible
(recognition) increases their engagement.
—“A SHRM Perspective on International Compensation” Hay Group

73 percent of employees who say they work at a "purpose-
driven" company are engaged, compared to just 23 percent
of those who don't.
—Deloitte
Ownership and Purpose
6

90% of people who believe their organization has a strong sense
of purpose also report a strong financial showing in the business
over the past year. They also report high employee and customer
satisfaction.
Only 65% of respondents who say they work for an organization
without a strong culture of purpose report a good financial
performance in the company.
—Deloitte
Purpose increases
financial performance.

“Employees thrive when they are given a sense of ownership to
accomplish their work with fewer approvals and checkpoints,
and with a smaller degree of intervention and oversight.
Company leadership and workers both succeed when employees
are allowed to own and solve problems in an innovative way.
Giving someone the opportunity to “break the mold” and create
new ways to address a challenge is highly fulfilling.”
—Josh Cohen, Forbes Contributor

6 ThingsYour Employees
Need To Succeed
1. Onboarding
2. Mentorship
3. The Right Position
4. Training and Education
5. Reward and Recognition
6. Ownership and Purpose

What can I do today to
increase employee success?
H R ’ S K E Y P E R F O R M AN C E I N D I C ATO R S

Thank you!
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