The Great Resignation doesn’t have to happen at your company!
We’ve all heard about or experienced “The Great Resignation” with employees leaving en mass. Are you experiencing this at your company? Are you finding it challenging to hire? I recently found an article in Harvard Business Review, 5 Reasons Not to Quit Your Job (Yet), and that got me thinking about what other things employers could do to keep their employees.
At The Daniel Group, one of our core services is Employee Feedback and helping our B2B clients improve employee engagement. So let’s start with a refresher.
Essential Factors in Increasing Employee Engagement
- Employees know what is expected of them and have the tools to carry out their jobs.
- Employees are comfortable expressing their opinions without worrying about retribution.
Foster an environment that leans toward positive recognition.
- The mission of the company includes engaging its employees.
- A high set of values help reinforce the mission, and everyone understands them even though they are not prominently displayed.
- Everyone knows what matters!
The Great Resignation and Employee Engagement
Now, however, with The Great Resignation, we need to do more for our employees. Here are some ideas to help you keep and attract employees.
Sense of Belonging/Mentors: Do your new employees feel a sense of belonging? What can you do to foster that? According to a Qualtrics study1, a sense of belonging is critical to new employees. Are you providing mentors to new employees? Mentorship helps new employees immediately feel like part of the team and a sense of belonging. For example, we assign new research analysts a more seasoned research analyst to assist them for the first few months of employment. Creating this relationship fosters a sense of belonging and inclusion for the new hires giving them an instant work friend and a resource for questions and support. (Additionally, this partnership expands the role of our senior research analysts.)
Empathy: According to a study by Human Resources Director, 92% of employees would stay with a company if their managers showed a little more empathy2. Management training is key to developing a culture that demonstrates empathy to its employees.
Opportunities: Identify and, if needed, create new opportunities for your current employees. If you’ve experienced several employees leaving, it’s time to rethink positions and responsibilities. What else can you offer to your current employees for career advancement?
Goals: Employees want to be successful in their positions. Are you giving your employees goals and the resources to achieve them? On top of that, are you celebrating goal achievement? Employees are fives times more likely to stay with your company if their good work is acknowledged regularly3.
Compensation: One way to think about compensation is to remember that it is part of the employee’s overall well-being. Have you considered reevaluating your compensation levels? Are your pay scales competitive? Are there individual employees you would hate to lose? You might need to rethink their salary and benefits. We’ve reviewed our pay scale for Research Analysts and made some changes, even though we have low turnover it was becoming more difficult to attract new employees.
For further reading about keeping your employees engaged, I recommend from our blogs; Engaged employees Will Make Your Company Hum Like a Fine-Tuned Engine!
What are you doing to keep and attract employees? What’s worked for your company? Please share with us so we can share with our clients.
Engaged Employees Will Make Your Company Hum Like a Fine-Tuned Engine!
A common question we hear from our clients is “So, how do I get employees more engaged?” Before we get too far down the road on this question, let me introduce an analogy for today’s post, which was inspired by a recent tour I took around a client’s impressive heavy equipment sales, parts and service facility.
Your employees are the engine of your company.
The facility I toured included an entire building dedicated to rebuilding engines and other complex systems from the ground up, including machining new parts from scratch if necessary. I saw more computers in the building than wrenches. This level of investment makes sense given the importance of the engine in powering the five, six, and seven-digit dollar priced construction and farming machines that our client sells and services. If the engine isn’t working properly the performance of the whole machine suffers, even if all the other parts are in perfect working order.
The same is true of your company. You may have the best brand, products, and customer friendly processes, but if your employees don’t show up every day ready to put these parts into action, your entire business sputters. READ MORE