Having the ability to pinpoint how many employees will leave and how many will stay at your organization within the next year would be incredibly helpful. The ability to do this might not be a reality due to a number of factors such as untrackable metrics, a shifting employee landscape, and the unseen impacts still lingering from the pandemic. That being said, here are certain things you can implement that will give you a better understanding of what can improve your employee retention rate over time.
Employees are ready to jump ship. Based on a recent survey from Harvard Business Review, "57% of the respondents to our latest survey of more than 10,000 knowledge workers across the globe, conducted in partnership with Future Forum, said they’d consider taking a new job in the coming year". How do you ensure your organization isn't losing top talent to competitors? Keep reading.
Over the past decade, the TINYpulse team has been helping our clients bring hard data to the softer side of the business to help leaders, like you, get to the root causes of disengagement, accurately understand and do our best to improve retention, and establish organizations as top employers in their indistries.
Before we dive into a few key product solutions we use to enable our clients to better understand employee retention at their organization, we want to share a few general tips that should be in place before taking any further action. Enjoy!
3 Top Tips for Improved Employee Retention:
- Be flexible and trust your employees
- Provide Opportunities to Establish Authentic Social Connections
- Provide Career Growth Opportunities
Be flexible and trust your employees
You hired them for a reason, trust them to do their job. We know the corporate world has changed, there is no one sized fits all way to show your employees you care, or to appreciate them in-office when half of them might be working from home. Ok we know we started off this tip with "be flexible" but according to Harvard Business Review, "What it seems employees really want is autonomy. Within the context of hybrid work, this means having the ability to be the primary decision-maker of where and when they do their work." How do you make this work at your company? Keep lines of communication open, check in frequently, and support employees where they need it most. What does this have to do with retention? Everything. If your employees can complete their jobs, be productive, avoid burnout, and feel like they have the power over their work-life balance, you are in a very good place.
By checking-in often with your employees you will have a good ear on the ground when it comes to happiness and overall satisfaction which can tie into your employee retetion predictions nicely.
Provide Opportunities to Establish Authentic Social Connections
You want your employees to look forward to going to work, but you can't force them to. Establishing authentic social connection so employees build meaningful relationships at work isn't something that can be done quickly or with a simple workshop.
According to The State of Employee Engagement report Q1 2022 by TINYpulse by Limeade, those who felt as if their social needs were not being met are 91% more likely to quit their job.
The Importance of Social Connection in the Workplace is clear, even if your teams are remote, hybrid, or in office. Your employees are people, and people need to feel human connection to remain engaged.
Provide Career Growth Opportunities
Employees are people and people like to stay where they feel valued. Giving employees a clear path to grow in their career within your organization could be the difference between them sticking around or taking a job with your competetor. Depending on your industry this might be as simple as goalsetting, mentorship, or coaching from a manager to learn more about an employees trajectory.
It can be challenging to track, measure, montor, and send consistent pulse surveys out to your employees without the help of employee engagement software. Employee feedback is nothing without a means to address it. Implement tools that increase employee engagement and satisfaction that are easily accessible to your HR team, so you can begin to take action after feedback is received.
Software solutions that enable you to cut through the noise and pinpoint where to focus your attention and resources to improve employee engagement in your organization.
Related: How To Strengthen Company Culture