employee retention – Talent500 Blog

5 proven strategies to improve employee retention in 2022

Posted on June 23, 2022 by naveen

The pandemic spurred on remote work models and for most, this was a welcome change from the ways of old. However, despite the autonomy and enhanced productivity, issues like burnout stayed a concern. In fact, burnout numbers increased significantly in 2021 with 52% of employees experiencing it as per an Indeed report. This comes as no surprise, especially with regard to the Great Resignation and the factors that led to it. With millions of employees leaving their companies, low pay and insufficient growth opportunities were two of the top reasons for 63% of employees quitting their jobs. Even in 2022, the issues persist, with 88%of employees on the fence about their company.

For those who quit, things weren’t grim. In 2021, 61% found a new job with ease, with 33% finding a new opportunity fairly quickly. Much of this success is attributed to companies adapting to the need of the hour. By offering better perks in line with evolving needs, employees found a better fit. In fact, over 50% of the employees who quit now have better pay, more flexibility, career growth opportunities, and more, according to a PEW report.

Revised strategies gave companies a competitive edge, and the same goes for retention too! The models of yesteryear are no more suitable in a digital landscape, and to retain talent, leadership must think outside the box.

To shed insight on trending winning strategies, here are tried-and-tested strategies for enhanced retention.

Maintain transparency to build trust

Trust and transparency are key to retaining employees and also building organizational culture. While both these elements exist in many forms, when it comes to retention, work responsibilities and salaries come into question most often. Companies looking to retain their talent must realize that trust and transparency can only be established if it is uniformly enforced across all operational verticals.

Netflix, on the other hand, established trust by assigning responsibility. Through the ‘No Vacation Policy’, Netflix offers unlimited paid leaves to its employees, and trusts its employees to do what’s best for the company. As a result, it has an under average turnover rate of just 11%.

Encourage self-expression and identity

A toxic work environment is a major reason why people quit companies. Naturally, the fix here is to build a healthy environment, one that focuses on employee satisfaction and engagement. One effective way is to encourage employees to bring their whole authentic selves to work. A great example of a company that fosters this culture is Northrop Grumman Corporation.

Featuring amongst the Fortune 100 leaders in employee retention, their core philosophies are centered around diversity and inclusion (D&I). At the company, employees are encouraged to express themselves however they deem fit. In fact, this kind of messaging enjoys the support from upper management, as their CEO is vocal about freedom of expression. Northrop Grumman Corporation was even celebrated for its diversity in 2020. All of these factors combined help it enjoy the retention rate it does.

Invest in employee career development

When employees feel that the company is invested in their career growth, they are more inclined to stay. This is an undeniable fact, especially for millennial workers, 41% of whom say that it is a vital factor of job satisfaction. A key aspect of career development for employees is internal mobility. Companies can make internal mobility a key factor as it can help employees learn new skills and improve retention. Research reveals that companies can increase retention at twice the rate by implementing internal mobility.

One of the world-renowned companies, Google has an 80/20 program that allows employees to explore and do side projects. The program encourages employees to put 20% of their time into side projects to help them advance their skills and capabilities. A program like this also allows employees to break free from their routine and change things which helps boost innovation, critical thinking, and employee relationships.

Personalize compensation and benefits

Fair compensation and benefits that meet employee needs can help companies reduce attrition by 56%. This not only improves retention, but also helps attract the best of the best in the industry. One of the companies that have implemented this strategy is Haro Helpers. Along with a standard compensation package, the company also gives employees a range of benefits to choose from. This includes bonuses, streaming services, commission, mental well-being, and more. This helps employees decide what they want when it comes to perks and benefits, which in turn improves satisfaction and retention.

Another aspect in terms of compensation and benefits is paid time off and rewards. Rewarding employees helps keep them motivated as well as valued in the organization. Apple, among the top global companies, offers its employees additional paid time especially during holidays. The simple policy works wonderfully in conveying the message that Apple is working for their employees. Moreover, the company also offers rewards based on the job location and culture. This helps employees feel valued and gives them a sense of belonging.

Recognize and reward employee efforts

Recognition and rewards have a direct effect on employee motivation, 72% of employees would work harder if they felt appreciated in the company. Not only that, recognition also has an impact on retention rates. A survey in 2019 revealed that 63% of employees are less likely to leave the organization if they were recognized. Naturally, this means companies should focus on strategies that not only recognize their workforce, but also reward.

Fortunately, reward programs can be clubbed into the compensation package. TCS, a leading company in India had a retention rate of around 11% in 2019. Much of this success can be attributed to the fact that it invests in its employees. What’s more, TCS offers employees a retention bonus on a yearly basis. This incentivizes loyalty, and may even impact motivation for some. When it comes to recognizing its employees, Infosys has a promotion cycle that happens on a quarterly basis. These promotions double-dip into career growth for employees, while also ensuring engagement regularly. With one of the top places to work at, Infosys has an attrition rate of 20.4%.

Employee retention is among the top concerns of CEOs, but these strategies can enable organizations to better retain their top talent. A proven approach is to create an engaging environment where employees feel a sense of belonging. Research shows that when employees feel a strong sense of belonging in the company, there is a 50% reduced risk of turnover.

Ensuring this level of engagement is something that should be built into the culture, and enforced right from the early stages of recruitment. With Talent500, you can do just that and build engaged teams efficiently. Our AI-powered tools ensure the best fit from a diverse pool of pre-vetted talent. What’s more, our processes ensure 5x faster hiring, which translates to faster deployment of services in a remote setting. To know more about our talent management services and the solutions ready for deployment, request a consultation.

6 secrets of retaining top talent during the age of the Great Resignation

Posted on May 1, 2022July 11, 2022 by temp

With the Great Resignation of 2021 and the Great Reshuffle in 2022, recruiting, hiring and talent retention strategies need a complete overhaul. HR teams and recruiters are now facing a new breed of employees – one that isn’t ready to shy away from voicing their demands and voting with their feet when their needs go unmet. A bevy of reasons including workplace toxicity, wage stagnation, burnout, job dissatisfaction, safety concerns amidst COVID-19, and the desire to opt for jobs offering flexible working options are contributing factors. In fact, workplace toxicity leads to 10x higher employee turnover than compensation as per an MIT SMR analysis.

The current situation has led to a labor shortage that is expected to worsen in 2022-23. In this scenario, employers and HR departments are rightly concerned about retaining skilled talent, which is harder to accomplish thanks to digital disruption and talent poaching.

Employee retention is the top talent management challenge that 47% of HR professionals face followed by recruitment at 36%. Maintaining a low turnover rate is the key to increased profitability, productivity, and overall success of an organization. Further, the cost of hiring new employees is higher than retaining existing ones. All this points to the unassailable fact that there is a dire need for developing inclusive workplace strategies to retain talent today.

This requires organizations to understand employee needs right from onboarding and offer favorable perks alongside career growth opportunities.

Here are 6 best-kept secrets that can catalyze efforts to retain top talent

Provide career development opportunities

A stagnated position or job role today is simply a countdown to a resignation. Skilled employees are motivated by challenging work, the prospect of promotion and a clear path to advancement. As such, 94% of employees will choose to stay put at an organization if it invests in their professional development. Here, upskilling and reskilling initiatives can be great incentives to offer while helping employees become stronger contributors towards enterprise goals.

Such learning opportunities also keep the workforce engaged and motivated when they align with individual aspirations and preferences. So, a choice of such digital development programs that address a variety of skills is the best way forward. In addition, having clearly defined career progression opportunities can stimulate employees to learn new skills and showcase initiative, thereby encouraging them to continue longer with an organization.

Recognize and reward your employees

Employees often look for a job change when they do not feel valued, recognized, or rewarded for their work. In fact, 65% of employees feel unappreciated at the workplace according to a Gallup poll, and another study found that 66% of workers are likely to quit their job if they do not feel appreciated. Employee recognition is also a critical peg of workplace culture, which is why positive communication and a strategic plan for recognition are vital to retaining talent.

Fear of provoking conversations about a raise or being taken advantage of are common reasons for managers not to express gratitude, but all this can change when appreciation becomes a consistent and organic practice across the organizational hierarchy. While care packages and paid vacations can be some of the perks offered, personal notes or public acknowledgments can also work just as well to promote job satisfaction and honor employees for their contributions. Rewarding top talent for soft and hard skills that are valued by company culture also inspires others to inculcate them.

Offer flexible work options

Remote work is here to stay with 82% of employees preferring to work from home as per a 2022 study. The gains brought about by increased flexibility such as higher productivity and lower stress cannot be shrugged off, and employers would do well to offer employees a remote or hybrid work model based on preferences and needs. Not only does this help organizations widen their talent pool, but it also reduces infrastructural costs.

From the employee POV, work flexibility acknowledges a life outside of work, and this itself can result in higher motivation, more loyalty and decreased burnout.

Offer attractive pay, bonuses, and benefits

Competitive, nondiscriminatory and equitable pay is the cornerstone of employee retention. An underpaid employee – and one who knows it! – is usually demotivated and uninspired, adversely affecting managers, colleagues, new talent being onboarded and workplace culture. Reviewing pay scales regularly is one way to ensure the remuneration package is up to par, as is offering benefit packages that suit the new world of work.

These may include physical and mental health programs, parental leave and childcare assistance, financial wellness initiatives and flexible paid leaves. By allowing employees to choose benefits that appeal most to them, workplaces can enjoy huge retention payoffs! While retention pay to keep top-performers from moving on is enjoying a renewed interest post pandemic, it works better when combined with the other factors listed here. That said, monetary incentives can motivate employees and promote healthy competition.

Act on employee feedback

When employees feel that they are heard and their suggestions are being valued, their engagement and involvement with the workplace improves. This is a sure-shot technique to reduce employee turnover. Here, continuous listening utilizing digital tools as well as one-on-one meetings enables companies to address issues at critical times during the employee lifecycle. This two-way dialogue can not only help detect and tackle problems before they lead to resignations, but also helps organizations improve employee benefit programs, reskilling initiatives, and other processes that will boost workplace happiness and performance!

Closing the loop here also means involving employees in the action taken on their feedback. Taking their help in suggesting solutions gives them autonomy and instils a greater sense of connectedness and participation. Even if a solution is unlikely at any point of time, thanking them for voicing feedback and letting them know why is important. This also helps keep the communication channels open.

Boost your organization’s culture

Company culture has become mission critical in retaining top talent. A recent survey revealed that 77% of employees consider company culture before applying for a job. In fact, culture was also found to be more important to millennials than salary. As work culture defines internal values, practices relating to diversity, inclusion and equality, ethical standards, mission and vision, it gives the organization and its workforce purpose.

By strengthening culture and ensuring it is reflected right from the recruitment and onboarding stage, an organization can help employees identify with it and feel a sense of belonging. When employees commit to the company mission and feel they are working towards a common goal, they become poach-proof. By reducing instances of favoritism, bias, inappropriate advancement, or even domineering seniors, companies can retain employees for longer and get the best out of them.

A happy employee is usually a loyal employee, and more importantly, one who thinks like an entrepreneur to add value to the organization. Fulfilling your employees’ needs is thus a smart and effective retention strategy. However, finding the right fit at the get-go is critical as employees who identify with your culture are the ones who feel the most ownership about their role and are most likely to stay with your company longer.

Here’s where global talent management companies like Talent500 are leveraged by industry leaders including fast-growth startups and Fortune 500 companies. Our excellent recruitment, onboarding, and managing experience makes it easier for companies to manage and scale their globally distributed teams.. Sign up with us today and get access to Intelligent AI fit and multiple sourcing channels that make finding the right talent 5x faster and better.

The war for talent: How to attract and retain talent in 2022

Posted on April 5, 2022 by naveen

Irrespective of industry, leaders across the globe are discussing one thing: talent. Ever since the pandemic hit, there has been a shift in employee behavior. People are actively looking for remote work opportunities. The widening gap between the demand and supply of the right talent at the right time is causing companies to lose out on competitive advantage and revenues.

It is a fact that rising attrition and talent shortage are shared challenges for organizations globally, but can it be an opportunity to create a resilient global workforce?

In this article, we explore some options that can help you win the war on talent by hiring and retaining a global workforce.

Strengthen your employer brand

A strategic recruitment campaign is going to get you the best of the talent. For that to succeed you need to build a strong employer value proposition (EVP). And to retain your current employees you will have to have a solid employer brand. People are a lot more focused now on jobs that align with their values. How candidates view your company and its values play a pivotal role in the hunt for talent.

Why do you think startups and even companies like Google and Facebook promote their employer brand as a “cool” millennial culture? It is to attract talent by offering them comforts and perks that resonate with them.

Or so they thought. The pulse of talent in the present scenario is quite different.

According to an article by the Harvard Business Review, employees today are looking for opportunities that allow them to do meaningful work in a unique setting. This approach has proven to be a better success for companies in their efforts to retain talent in the long run. Work on promoting what makes your company stand out as an employer. The job market is very noisy, you need to be heard to reach the right talent.

Building a strong employer brand is the top priority for global leaders today. As talent is chased by hundreds of recruiters, this is one of the best strategies to stand out.

Decentralize your workforce

In an era where work location doesn’t matter, but productivity and collaboration do, it is wise to decentralize the workforce and tap into the global talent pool. The distributed workforce is going to be the future of work as Bill Gates famously quoted that 30% of the office space will diminish as more than 50% of employees will work from home, going forward.

As an employer, you must focus on creating a decentralized workforce that can make you a lucrative employer if you want to attract new talent. According to a survey, 52% of employees who are willing to relocate because of work, want their employers to handle the logistic. Furthermore, 92% of the respondents said they will want financial incentives like a pay rise, housing allowance, or reimbursement of moving expenses for relocation. All of this leads to added costs for companies.

Allowing recruits to work remotely, on the other hand, is a solution that is saving employers from a lot of logistic and relocation costs and challenges. A decentralized workforce is a revolutionizing turning point. It enables companies to hire globally, providing access to the best professionals.

However, while building a decentralized workforce will save a lot on relocation, office space, and maintenance, you will have to create a digital workforce which will require investment in digital infrastructure.

Implement global supply chains

To get the best of global talent you need to implement fundamental principles of supply-chain management. By setting up global supply chains for hiring talent, you will continually meet your requirement without prolonged delays and can stave off the competition. As there is a persistent misalignment between employers’ requirements and the talent available, when you have multiple channels to hire people from, you have the best talent available for the job, when you need it.

As the distributed workplace environment is becoming the norm, there is a need for sophisticated and expertly managed global supply chains for talent acquisition. You want to set your company on a path where your teams can endure talent shortages without affecting productivity or revenue.

Enable continuous learning

Sometimes employees stop learning once the onboarding process is complete. When technology is changing at such a rapid pace, it is important that employees continually develop their skills and knowledge to future-proof their jobs.

When you make it possible for employees to keep learning at their jobs, you don’t just make it easy to retain the best existing employees, you also become more attractive to prospective employees. Continuously learning not only keeps employees competent and helps them to quickly adapt to any change but also helps them advance in their careers. It is an effective way to keep employees engaged and excited about their roles.

Create agile working environments

People want flexibility and autonomy in their jobs. By creating an adaptive and flexible workplace environment, and providing employees with the right tools for the right job, you give them the autonomy to make decisions on how they need to do their job.

Unilever defines agile working as “an approach to getting work done with maximum flexibility and minimum constraints. It goes beyond just flexible working or telecommuting and focuses on eliminating the barriers to getting work done efficiently”.

If you want to retain talent, you have to make policies that help people be more flexible at their jobs. In light of the recent pandemic, people are focusing more on the ‘You Only Live Once’ philosophy. This is why they want to work for companies that let them have more work-life balance. Agile work environments are much more productive and are known to benefit employees’ mental and emotional wellbeing. Digital workplaces are best suited to enable an agile environment and attract global talent.

Keep an eye on gig workers

As more people are becoming freelancers, it is easy to hire gig workers to get the work done on time. However, as an employer, you might want to keep an eye out for the skilled talent so that you can convert them to payroll employees. As the ‘gig’ economy is getting real organizations need to know how to hire the best of the contract workers.

Define a clear scope of work to attract the right talent. As workers are more discerning about how jobs add to the quality of their lives, it’s important to let gig workers know what you are offering. You also need to evolve the way you evaluate talent and when hiring remote workers, you should put less emphasis on corporate fit and focus more on proven ability to get results.

Now more than ever before, employers are faced with the challenge of retaining their talent. Retaining and attracting employees gets easier if you understand how to strongly portray your employer brand. Talent500 has been building global teams for Fortune 500 companies and we offer the best solutions to hire, build, and manage a distributed workforce. To learn more set up a consultation today.

Employee retention is important: 3 ways to manage it

Posted on April 5, 2022April 5, 2022 by naveen

In the present job market when employees are resigning at an unprecedented rate and looking for greener pastures, abundant opportunities are available for them on a global scale.

This has led to a decline in company loyalty and retention. According to PWC’s Next in Work Pulse survey, the rate of attrition is at an all-time high with 65% of employees reporting they are looking for new opportunities. Furthermore, 80% of executives surveyed admitted that their organizations are witnessing turnover much higher than normal.

Employee turnover can be extremely expensive for companies as this report suggests. This is why it is expected of companies to invest in strategies that will increase their employee retention rate.

Why is employee retention important?

The success of any company at keeping employees is measured by employee retention rate. It is an important metric, especially during uncertain times like the pandemic as a low retention rate can be seen by prospective employees as a warning sign of a dysfunctional team. You must have strategies in place to retain employees for the long haul and to reap the benefits of high employee retention.

Consistent productivity

When you are not continuously interviewing candidates and onboarding new employees, the managers, and teammates can focus on important tasks that contribute to the company’s growth. This significantly improves the company’s output.

More satisfied customers

When you have enough employees, your company can provide better customer service. A happier customer base implies steady business. If you are understaffed, the teams will constantly struggle to keep up with customer requests and there can be burnout issues.

Key information remains in-house

When teams remain consistent, there is a higher degree of collaboration as members are aware of tools and techniques that help them work together. Also, retaining employees helps you keep key knowledge within the company that might give you a competitive advantage.

Increased revenue

Replacing employees can be a costly affair. In the US alone, it costs a trillion dollars to hire employees every year. By improving employee retention, you can save millions that can be more constructively used to carry out other initiatives important for company growth.

3 ways to increase employee retention

For the sustainable growth of a company, it is important that employees feel part of the vision and goals. Your workforce is the only competitive advantage that cannot be copied, this is why it is mandatory to take all steps necessary to retain the talent at your company.

Given the fact that employee retention is of utmost importance right now, here are three strategies that can help with employee retention.

1. Set up a positive feedback loop

Industry leaders are aware of the fact that employees need positive feedback to keep up the morale and work productively. But for some reason, companies have failed to actively help employers with positive feedback. This scenario has undergone complete change post-pandemic, and employees expect you to provide an inclusive environment with more positive feedback.

That being said, in what proportion should you provide positive feedback?

A Harvard study suggested that the ideal ratio between positive and negative employee feedback must be 5.6 (positive) to 1 (negative). That’s 6 to 1.

We are not surprised, as positive feedback has always been psychologically proven to motivate employees to give their best with determination, going forward. This should not discourage managers from sharing constructive and corrective feedback when there is the need for it. Such constructive feedback is important to nip the problem in the bud.

Simply put, keep a track of how many negative comments you share with your employees about the positive feedback you provide. Do the math and commit to providing 4 to 6 positive comments for every negative or constructive feedback you give an employee.

2. Create continuous growth opportunities for employees

It is not uncommon to see companies promoting people from outside of the organization, but not providing any opportunities for in-house training and upskilling of existing employees. This is a terrible mistake that can cause you to lose not only the best employees but also degrade your employer’s brand.

When there is no way for employees to advance or improve in their company, they become disillusioned in their roles and are most likely to leave. Can you blame them for leaving a company where they cannot envision their growth?

This is why it is critical to create ongoing education programs that make your employees feel valued for employee retention. The opportunities for continuous growth give them something to look forward to and feel part of the company’s success. If you fail to help your employees see a laid-out path for advancement, your employee retention rates will continue to decline.

As an employee retention strategy, create opportunities for continuous growth by implementing training programs to help employees grow within the company. For this purpose, you can use outside resources such as workshops, online courses, and expert professionals. Employees will see such programs as a powerful incentive to stay with your company because these initiatives suggest that you are willing to invest in their future.

3. Include your employees

Just as the absence of growth opportunities drives away employees, feelings of isolation and exclusion can also increase the attrition rate. Your current and prospective employees want to feel purposeful at their jobs. It is important to them to know that they play a key role in helping the company achieve its goals.

As a measure to increase employee retention, you can plan strategies that enable diversity in the workforce, at the same time making inclusion a priority. According to Josh Bersin, founder and principal at Bersin by Deloitte, companies that have policies to encourage diversity, inclusion, development planning, and leadership building are 3.8 times more likely to coach people for improved performance, 3.6 times more capable to deal with personal performance problems effectively, and 2.9 times more likely to identify leadership talent and help them grow.

This is a remarkable study that suggests that companies must take a top-down approach to create a culture of inclusion, whether they are hiring leaders or doing performance management. There are no shortcuts to creating a culture of inclusion in the workplace.

The most effective step will be to have open conversations with your employees individually. Ask them about their thoughts on their roles within the company. Such open-ended strategic meetings will help managers understand how inclusive employees are feeling at your company. Depending on the outcome, you can frame policies to help them feel more at home.

Bottomline

With technology improving and becoming more accessible, companies are competing based on their workforce. It is more important than ever before to retain your employees for sustainable growth in the long run.

Talent500 can help you hire, build, and manage a global workforce. We keep employee retention high by creating optimal digital workplaces. Request a consultation today to discuss your requirements.

8 ways to boost employee engagement levels to new heights

Posted on January 25, 2022January 25, 2022 by surya

There is no doubt that employee engagement is critical to employee satisfaction and retention. To put this in numbers, companies that can successfully engage their employees increase their chances of retention by 87% as per studies. A happy and satisfied workforce is motivated to churn out their best, perform optimally and maintain better overall productivity, ultimately adding to company coffers.

Unfortunately, the pandemic and its restrictions have made employee engagement an uphill battle for HR departments. With little to no personal interaction and a taxing transition to the remote work environment, many companies now face a significant change in culture. While this has received positive feedback, it has led to low employee engagement in many cases. Addressing this problem is critical, and there are many tactics you can undertake.

Here is a mixed bag of long-term strategies and quick fixes you can implement to boost your company’s employee engagement.

Optimize processes to increase efficiency at work

Prior to the pandemic, a OnePoll survey found that 26% of an employee’s time in a working day is wasted doing unnecessary chores. These tasks included working with outdated processes and technology or attending unnecessary meetings that offered little to no value. The impact of such inefficiency worsened in a remote working environment. The Gallup State of the Global Workplace Report in 2020 found that engagement dropped to 20% last year. Naturally, it is safe to assume that this did no favors for an employee’s overall daily performance.

Replacing inefficient practices with optimized and time-saving ones can improve an employee’s work quality, thereby boosting morale. For instance, having an effective document management process in place can ensure that employees have one less thing to worry about, making work manageable. According to the same report, work-induced stress was also at a high, with worry amounting to 41% of the problem. Instituting provisions that minimize instances of stress and worry is sure to increase efficiency, and engagement as well.

Create open communication channels and prioritize feedback

Communication is another aspect of an employee’s workday that normally requires optimization. This not only includes HR-employee communication but also communication among colleagues. Effective comms ensure employees can complete daily tasks without any hitches. Streamlining modes of communication can further help streamline workflow, as well as the chain of command.

With more companies embracing remote or hybrid working styles, it is now essential to have desktop-less communication channels. This will help ensure:

Easy accessibility and availability of all persons involved with a given project.
Reduce friction caused by the lack of physical presence, usually known to restrict workflow.

Employees want feedback, as this helps them feel acknowledged. It simultaneously improves employee engagement as there are no gaps in the communication. Enhancing communication between management and employees seems the obvious first step in this regard. Other smart options include:

Asking managers and team leaders to schedule frequent check-ins and review sessions with their teams.
Providing additional training to ensure that a blanket-style approach isn’t employed to every employee’s need or problem.
Creating an environment that encourages open and honest conversation between employees and management.
Encouraging managers to deploy every possible communication channel to give and receive feedback.

Review and polish your onboarding process

Well begun is half done, and this applies to your company’s onboarding process as well. This is a pivotal moment where the new joinee gets a first-hand experience of the company’s culture, atmosphere, and fellow employees. If done right, it can set the correct tone for a new employee, helping them envision their career growth and personal development. So, your onboarding should lay the foundation of a working relationship that is engaging and inclusive.

A critical aspect of the onboarding experience is the office intranet. It helps new employees to know and understand your business, the processes to be followed, fellow employees, and company culture. Moreover, adding a personal space like ‘My Profile’ provides a digital space for employees to express themselves, building camaraderie. All of this guarantees a simple, effective, and seamless onboarding experience, ensuring employee engagement from the start.

Provide working flexibility to employees

Employees expect their companies to help them achieve the elusive and much-needed work-life balance. They expect employers to be empathetic enough to help them meet their personal commitments. Work-from-home flexibility and remote opportunities were proven tools that guaranteed satisfaction, and to an extent increased employee engagement. But with the pandemic and the recent shift to digital working conditions, additions must be made.

For instance, allowing your employees to choose their work timings is a good start. This shows that you care about them and their personal lives and are invested in their well-being. Optimize your processes and workflow in a manner that allows your employees freedom in choosing their timings. Showing empathy on your part will significantly boost engagement and overall productivity.

Recognize, appreciate, and reward employee efforts

When employees feel acknowledged, valued and rewarded, they are motivated to do better. However, this should not be the sole purpose of recognizing and appreciating employee efforts. Ensure that you do so solely for the quality of work and effort, highlighting their value to the company. Seeing colleagues being motivated and rewarded for their work and efforts will also boost the morale of the entire workforce. It will inspire them to work harder, ultimately improving employee engagement.

Invest in upskilling your workforce

Investing in your workforce is synonymous with investing in your business. Providing employees with opportunities, training, and education to upskill tells employees that you see potential and are ready to invest in them. Not doing so can not only harm productivity, but also affect retention and employee engagement. Helping your employees improve in the very aspects they are lacking inspires confidence, improving engagement.

Promote shared company culture and core values

Take efforts to promote a consistent culture and core values throughout the company. This ensures that every employee shares, and is part of a common culture that drives them at work. While it helps improve employee interaction and engagement, it also helps align employee goals to company purpose. A transparent and shared company culture results in a highly productive and fun working environment. Moreover, it fosters a bond of trust between managers and employees.

Undertake actionable employment satisfaction and engagement surveys

A successful employee engagement strategy is incomplete without taking honest feedback and reviews. A transparent and collaborative approach can help you build a lasting and effective engagement program. To this effect, undertake regular feedback in the form of polls, surveys, and interviews. This makes the employee a stakeholder in the betterment of the workforce, providing you with actionable data about your engagement program.

Money is not the only reason employees leave companies. Employees today want a job that caters to their well-being while treating them with respect and in an inclusive manner. A well thought-out and employee-centric engagement program can help you create a brand that attracts new talent and retains the current workforce.

As per a survey, a point increase in employee satisfaction transcends to a 1.3-point increase in customer satisfaction. So, it is in your company’s best interest to prioritize employee well-being to ensure customer happiness.

At Talent500, we help you build employee engagement solutions that feature a streamlined onboarding process, and access tools that optimize engagement. With our best-in-class benefits, managing a remote team becomes easy with us as your EOR. We leverage a host of community activities, learning and development initiatives, and many more methods to help bolster employee engagement. To know how we can help you achieve this goal, book a consultation online.