As employers tried to combat the Great Resignation and compete in the ongoing war for talent over the past two years, increases in salaries, additional benefits and flexibility served as attractive incentives for some. However, for others, despite their best efforts they continued to experience high turnover. Why?
According to an article from Harvard Business Review, “A recent Harris poll indicates that 20% of employees who left their jobs in 2021 to join other companies for [higher pay/flexibility] now regret their decision.”
It might be time for employers to look inward and open communication to analyze what is working and what is not. Have they benchmarked employee satisfaction? Do they do pulse checks to understand employee sentiment? Are front-line managers connecting with their employees?
According to a 2022 survey by Gartner, 52% of those surveyed said the pandemic made them question the purpose of their day-to-day job.
In an article from Fast Company, Stephen M.R. Covey, author of Trust & Inspire: How Truly Great Leaders Unleash Greatness in Others, is quoted, “An inspired employee comes to work lit up about what they’re doing because they feel they matter, their work matters, and the impact they’re having matters. What burns people out is when they don’t have a sense of the impact or contribution and that it matters.”
As a career HR Executive turned HR tech entrepreneur and founder of an HR Technology solution, Truvelop, I could not agree more. At Truvelop, we believe in building better workplaces where front-line employees feel valued, respected, and always know where they stand.
Truvelop’s value proposition is to inspire employees to stay longer and realize their full potential through continuous feedback and coaching. Turnover is expensive and with replacing front-line employees becoming more and more difficult – developing and retaining existing talent is paramount.
Here are three ways to retain your employees through inspiration and motivation:
- Connect jobs with organizational mission
- While each individual job on a team has a purpose, goals and specific skill sets, the job can often feel disconnected from the company itself. When managers can help employees understand the business's mission and how their role aligns, employees feel more connected and grounded in purpose. However, investing in management training to develop communications skills is recommended if your managers are not skilled at communicating effectively.
- Offer learning, development, and upskilling opportunities
- Even if an employee is not positioned for advancement, they can get bored and frustrated doing the same thing day in and day out. Managers can inspire employees by offering new learning opportunities whether it’s an industry conference or training for a new technology. Understanding employee goals can help managers to provide them with the training and development they need to grow and feel satisfied in their role.
- Emphasize well-being
- As reported by Fast Company, “A recent study by Deloitte found that one in three employees and executives are constantly struggling with fatigue and poor mental health, with an enormous dichotomy between perception and reality. For example, only 56% of employees believing their company’s executives care about their well-being, while 90% of C-suite executives surveyed think their employees believe they are cared about.”
- Managers should check in with employees regularly to gauge burnout and stress and create a culture where employees can feel comfortable talking to their manager about how they are feeling and more importantly take the time to address their mental and physical health through vacation or seeking services for support.
Companies can no longer “buy” their employees. Employees are rethinking how work fits into their lives and are focused more on how their job impacts them, not just financially. Employers must prioritize employee sentiment – specifically through motivation and inspiration if they are going to retain their employees and top talent.
Contact us today to learn more about our modern approach to performance management and development and how it solves for retention. Don’t just take our word for it, see what our Customers have to say.