The Great Resignation Isn’t Just about Pay. Here Are 3 Ways to Inspire Employees to Stick Around
As workers continue to leave their jobs in record numbers, they’re seeking more than higher salaries. In fact, nearly one in five professionals say they’d accept a new role at their current pay rate.
So what do employees want? Purpose. Direction. Balance. People today want to work to live, not live to work. And it’s in employers’ best interest to make that possible.
Read on for three ways to keep your employees invested in being part of The Great Retention.
Appeal to Your Employees’ Sense of Purpose
Seventy percent of employees say their sense of purpose is defined by their work – which helps explain why so many people are willing to change jobs without a pay raise.
The key question: how can you be the employer workers turn to rather than the one they run from?
The answer lies in purpose.
In any job, it's easy to get bogged down in the day-to-day. To bring purpose to the forefront, make sure you're framing day-to-day tasks around the people you're helping.
That can be as simple as sharing client feedback and thanks with the whole team or praising employees when they go the extra mile for a client. As you look toward recruiting people driven by purpose, revisit your company's mission statement. If you don't have one, now's a good time to write one to convey that the work you do has a real impact on real people.
When in doubt, ask your team how and why they feel engaged by your workplace – and offer resources that respond to their voices. Employees who see how their values match the work they do are more satisfied with their work, and more likely to stay with your company.
If you're not sure how to approach the idea of purpose, consider this research from McKinsey, which identifies four key ways people find purpose:
Agency: Employees valuing agency may focus on the influence their work has on the environment and others.
Self: Some employees find purpose in autonomy or the enjoyment they find in their work.
Others: This group responds strongly to how their coworkers feel, including their sense of belonging and equality.
Integration: This group pays attention to how a company combines the efforts of various employees.
Though there’s no one-size-fits-all approach to promoting purpose, understanding how people derive meaning from their work puts you well on your way.
Help Your Employees Reach Their Long-Term Career Goals
High-performing organizations are 37 times more likely to help their workers achieve their long-term career goals. Put differently: organizations that invest in their employees’ careers tend to perform well.
What does that look like? It can start with a conversation.
Ask your employees what their goals are. If they want to move into a leadership role, you can start with a conversation about whether there’s room for that type of growth at your company.
If there is, set objectives to prepare them for managing others – such as regularly completing their own projects with minimal supervision – and clearly define how you’ll measure success.
When the time is right, encourage them to enroll in management training or other relevant professional development courses, such as those focused on human resources or budget management.
And be sure to check in with your employees to provide the resources they need – especially when you have high expectations, which can both motivate employees and help them succeed – but keep meetings short to demonstrate your trust in their autonomy and ability to handle their work.
It can also be productive to put yourself in their shoes. Consider how you’d want to receive information if you were on the other side of the desk. Do you appreciate honesty and the benefits of collaboration? Trust that your employees do, too.
Give Employees the Autonomy to Manage Their Time in and out of the Office
Being smart about how you use your time is hard work.
To recognize this, measure your employees’ successes by the outcomes of their projects rather than the time they spent working on them.
Is the quarterly report completed two days ahead of the deadline? Was the work of your midday meeting accomplished by sending an email? If so, try giving employees the autonomy to take the saved time back for themselves.
Whether they take a brief walk to reset and focus on the next project, go on an extended lunch break with coworkers, or enjoy an unexpected long weekend with the family, time away from work lets your entire team refocus and return rejuvenated.
Offering employees the autonomy to manage their time means they get to choose where to work as well as when to take a break.
That can mean choosing to work outside of the office – or even while traveling. In fact, studies show that people willing to work a little on vacation take twice as many trips as leisure-only vacationers.
To help you find that balance, Firmspace can offer space throughout the country for employees who want to work while traveling, regardless of whether they’re traveling for work.
Employees Expect Dynamic Benefits. Successful Employers Listen and Respond
Right now, employees and employers may both be wondering how the possibility of recession will impact the workplace. But when people are happy with their office experience, they’re 20 percent less likely to seek other opportunities.
That’s great news for employers who can offer the benefits and environments workers want. And it can help stabilize your team in increasingly uncertain times.
Eager to recruit and retain the best employees? Book a tour to see how Firmspace can help you attract the employees who best fit your business.
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