Vaibhav Jain, CEO and Founder of Hubilo, explains what business leaders can do to prevent their staff from handing in their notice amid a time of heightened employee dissatisfaction.
The post-pandemic era is bringing many changes to working environments and employee expectations, with many now looking to jump ship in favour of better pay and work-life balance. Defined as ‘The Great Resignation,’ we are entering a world where 69% of workers feel confident about moving to a new role in the coming months.
Losing a skilled and experienced workforce comes with great risks to business continuity and the ability to serve customers well. Not to mention considerable cost implications. Therefore, the upcoming mass job switch should prompt organisations and HR leaders to review their practices to urgently improve employee engagement and retention.
Bridge the communications gap
There are many reasons why talented employees may want to leave a company, and more often than not, it’s not just the salary. From the absence of regular check-ins and constructive feedback to feeling undervalued and being unclear on progression opportunities, all of these elements play a part in swinging the decision to quit.
Listening to employees and acting upon their voice can make a huge difference in employee satisfaction levels, preventing them from leaving. Unfortunately, the latest UKG research reveals that four in five employees feel that colleagues aren’t heard equally, exposing a troublesome communications gap that might be driving the mass exodus.
Communication is the golden key to creating an engaged employee culture and lowering turnover. It is even more important to ensure transparent and frequent communication between the board and other workers in today’s dispersed environments and flexible working models. But rather than flooding employees with an ocean of emails, businesses should consider leveraging the latest communications technologies to create better connections with their employees, give them a platform to speak up, and form great relationships with their colleagues.
Reinventing how company meetings are done and abandoning uninspiring one-way meetings can significantly improve employee retention and engagement strategies. Introducing quizzes and polls during meetings can help improve engagement and give HR departments and managers valuable employee insights they can use to prevent top talent from jumping ship. Including a fun element or healthy competition can strengthen team spirit, inject a sense of unity, and remind everyone of common goals.
It can also help employees build confidence to approach their manager to raise any issues they might have, potentially flagging problems that impact employee retention and that the management was not even aware of before.
Reimagine training initiatives
Having a high-quality employee learning and development (L&D) programme enables businesses to strengthen employees’ skills and build up knowledge where it is lacking. Offering regular training opportunities and knowledge-sharing team sessions can help workers keep up with the changing consumer demands and technological advancements, giving them higher chances to succeed in their positions. Facilitating training and career development also shows appreciation and encouragement to grow professionally, making employees want to stay as they see a clear path.
However, HR leaders must say goodbye to pre-recorded five-hour long training videos that disengage workers instead of making them curious and excited. Utilising a virtual events platform to invite trainers, business partners, and co-founders to share their knowledge and run through real-life scenarios can truly transform L&D strategies. Employees get the chance to ask questions or participate in team activities that improve knowledge retention and their understanding of the latest practices.
Thinking outside the box and taking advantage of technology can significantly boost L&D programme effectiveness. The more engaging and interactive the training, the better the participation rate and the direct results on productivity and performance.
Create a culture of engagement
Not all meetings should be about work. With employees now working from all corners of the globe, it is crucial to provide them with opportunities to get to know their colleagues, have meaningful and fun conversations, and bond with their managers. A physical distance no longer has to be a barrier to creating a connected workforce. Teams can get together and form connections through virtual events that celebrate birthdays, anniversaries, or awareness days. Virtual goodie bags, online vouchers, or discount codes can go a long way in making team members feel appreciated and valued.
By celebrating non-work-related events, offering interactive training sessions, and adding gamification elements to business-wide meetings, companies can foster a culture of engagement and get one step ahead of ‘The Great Resignation.’ Improving communication and interaction within the business can positively impact employee satisfaction and their desire to stay and progress within the company. By utilising today’s virtual events technology, businesses can create an environment where all employees feel listened to and included, improving their engagement and, therefore, retention.