The chaos and financial strain of the pandemic, not to mention the stress of adjusting to working from home and returning to the office, has caused many employees to consider their options when it comes to their employment. When it comes to valued employees, however, having one quit can affect a team, department, or even an entire company. Your best employees aren’t just worth their effectiveness, diligence, and revenue, they are also an essential piece of the puzzle when it comes to morale and productivity for their fellow employees.
The question, therefore, is how to identify when an employee is dissatisfied, determine the factors that are leading to that dissatisfaction, and find a way to convince them to stay with your company. By working in tandem with both that employee’s direct supervisor and other management figures further up the chain, you can create a game plan that will help retain valued employees and prevent disruption in the workplace.
One of the reasons why many employees become disengaged from their companies is because they feel their concerns and opinions about the workplace aren’t being heard. According to Talent Keepers, regular employee surveys that are considered and acted upon by management are one of the best metrics to determine employee morale and prevent turnover. But it’s important to remember that surveys that are sent out and responded to with no conversation or appreciable result are often more frustrating than not having a survey at all. Employees will feel that their input is being outright ignored rather than just neglected. It’s also important to remember that these surveys are powerful tools rather than just whining – your employees understand the unique challenges present in their particular position, and listening to their feedback and implementing changes based on it will make their workday smoother and decrease the risk of turnover.
Dedicated – or previously dedicated – employees want the hard work they do to be acknowledged, and not just in a general sense. In fact, the more cliche “employee appreciation” schemes can sometimes make employees feel patronized and manipulated rather than appreciated. Instead, ensure that supervisors and managers understand how to give appreciative feedback to employees rather than only making their thoughts known when they have criticisms. This individualized form of employee appreciation is far more valuable than a cheap pizza party, though a bit more difficult to get off the ground.
Many employees want to advance their career in a material way, whether they want to shift focus on their career path out of interest or in search of a larger salary. Advocating for internal promotions rather than external recruitment and making the process for advancing within the company clear to employees are two ways that you can help retain valuable, driven employees who may want the perks and responsibilities of a more advanced position.
The number one reason why employees choose to seek positions elsewhere? They know that other companies will pay them more for their experience and expertise than the company that they are currently working for. Job hoppinghas become far more common, and this is primarily because raises and bonuses have become far more rare over the past 20-30 years. If you have a large number of employees leaving for other companies, then perhaps it’s time to review your system for compensation. You need to make sure to pay employees what they’re worth – competitive wages that keep pace with the cost of living in your area and with inflation. When you’re not willing to pay employees for not only their job but their experience and dedication, then job hopping becomes not a red flag but the only logical option for anyone hoping to live a happy, financially stable life.
Interesting Related Article: “How Artificial Intelligence is Transforming Employee Experience in the Workplace“