Tips on employee retention: Three things every business should know
In workplaces around the world – including yours – there’s been a shift. The way we approach work and what we hope to get out of it is different to what it once was.
With professional expectations changing, how can organizations keep employees happy, engaged, and primed for success? What’s the secret for retaining talent and keeping your best employees loyal?
Based on findings from our new workplace research, here are three top tips that can make a big difference to employee workplace satisfaction.
- Give employees the flexibility they need.
At present, working remotely is broadly accepted for one quarter of workers globally.
And for many millennials (having entered the workforce in droves over the past fifteen years) flexible working is now seen as part of the package.
This shouldn’t be a cause for concern.
While there are challenges, especially from the perspective of employers, the benefits of remote working and other flexible practices are evident. Those who work for employers that permit remote working are more inclined to rate their companies as “good” or “excellent” for employee morale, communication, productivity, collaboration, and overall culture.
Aside from the benefit to employees, remote working is also associated with a tendency to work longer and harder. The likelihood of doing things like working overtime, and answering emails or messages outside of office hours actually increases as workplace tolerance toward remote working increases.
Put trust in your employees to manage their own flexible work arrangements and treat them like adults. Employees will continue to perform to the same standard in many different circumstances.
- Involve people: communicate business goals and updates openly.
This is no surprise: modern workplace professionals want – and need – to feel part of the bigger plan.
So how can organizations instill this? Our research says the answer lies in y being transparent about daily operations and decisions being made, and providing employees with a clear understanding of how their roles relate to others.
At present, 11% of employees say they don’t feel aligned with their company’s vision, values and operating principles. As for how many workplace professionals know how their day-to-day work contributes to their company’s strategy, only a third say they do.
This leaves much room for improvement, considering our B2B data shows a direct correlation between monthly communication of strategy and workers’ overall satisfaction – rating their company highly for career progression, collaboration, communication, productivity, morale, training, work-life balance, and culture.
But while open communication around strategic goals (with colleagues and from leadership) is important the quality of communication and the intent behind it matters as much as the frequency.
- Banish the Sunday blues with good workplace culture.
Workplace culture is a chief concern for professionals worldwide, and the research is there to support it.
And while each country experiences its own challenges, it’s the most frequently cited “management and culture” challenge globally.
Keeping employees in the loop in an unhurried and sincere way contributes to their sense of belonging, which is crucial for positive workplace culture.
What’s more, companies who take specific measures to improve the wellbeing of their employees can expect to reshape their trajectories as such. A happier and more engaged workplace culture is more likely to result in increased innovation, growth and revenue – a logical outcome.
As well as introducing new workplace perks, like free gym memberships or free health insurance which contribute to employees’ feeling valued, taking specific measures can also include asking employees what they envisage an ideal work culture to be, and their suggestions to work towards it.
All of this matters, because for better or for worse, peoples’ experiences impact their organizations.
The pace of change is faster than it’s been at any other time in history, but once you scratch below the surface, it’s clear that the true state of work is more people-powered people give credit to.
Overall, workers’ needs are surprisingly basic: greater transparency, clearer documentation of responsibilities, more cross-team collaboration and open access to leadership.
But the onus isn’t all on them to want to stay loyal and stick with where they are – they need organizational support, clear communication, effective tools and a strategic vision to follow.
Companies covet – and need – workers who are connected, collaborative and optimistic about the future. As our research has eluded to, It’s so important for organizations to understand why certain workers find themselves disconnected from the wider corporate vision – but implementing these measures can go a long way in helping alleviate these symptoms.