By Anthony Bell
According to an article from acountingweb.com, Just one-third of employees in North America feel engaged in their jobs. Research shows that firms with high employee engagement have 19% higher operating income than their peers. Companies are increasingly elevating staff engagement and retention as key priorities for their recovery plans. The Board’s research shows that almost half of all global finance employees were not committed to their current jobs, and one-third of them were planning to leaving within a year. As liquidity returns to labor markets, CMOs and other C-suite executives are keen to (cost-effectively) mitigate attrition risks and boost engagement levels among high-performing staff.
So How Do the Best Market Research Functions keep team members engaged? Traditional career opportunities fail to accommodate new research roles and profiles. The key to managing performance is to develop role-specific metrics and career opportunities to link incentives to the function’s overall goal of business impact. The approach to performance measurement and career planning is too narrow to accommodate the new researcher. Top companies align performance with business partners’ objectives and develop metrics that link roles to overall function goals. Teams with high-potential researchers who seek faster and higher progression struggle to motivate and retain these valuable employees. Encourage rotation outside of research to lower attrition raters or expand career opportunities to motivate employees and create specialty career tracks for technical versus strategic researchers.
MREB Members, for a deeper look, check out our Staff Management Topic Center.