June 21st, 2023 | From our CEO
Low Engagement does NOT determine who leaves a company. Lack of Informal Networks do….
Case evidence from a so far 4-year long client engagement of Innovisor shows that employee engagement in a 750 people company is not a driver of employee retention, as many would expect. Promoters are just as likely to leave the company, as detractors are. We have observed the exact same in a multi-year engagement with a 1600 people media company.
17% Weaker Informal Networks
However, in the case with 750 people the ones that left had 17% weaker networks inside the organization. They were not included in the social chit chat as much as others – and they were not asked for help & advice as much as others. It is the same conclusion, we reached with a pharma company, where 79% of the people isolated from the informal networks left within a short period.
500% Rise in Probablity of Others Leaving
Or in another multi-year engagement with a pharma company, where we showed how quitting was contagious, if a person very connected in the informal networks decided to leave. Here we discovered a 500% rise in probability of others leaving within 6 months.
Networks Drive Performance, Accelerates Change and Safeguards Employee Retention
The Innovisor network data again confirms the incredible power of informal networks inside organization – and why working with them should be top priority for any leader.