Your business is only as good as your people. Great products and competitive service will only take you so far. Happy employees translate into happy customers, and happy customers likewise translate into higher profits.
Employee satisfaction is a reliable predictor of employee retention. While many employees leave in search of fatter paychecks, the underlying reason for turnover – in more cases than not – is dissatisfaction.
- According to a study based on input from more than 19,700 exit interviews, employees cited job dissatisfaction among the top reasons they launched job searches to find work elsewhere.
The following factors come into play as you seek to build employee engagement, satisfaction and ultimately, loyalty to your company.
When you source and recruit talent, your goal should be to hire as much for cultural alignment as skill set match. After all, skills can be taught and mastered on the job. Cultural fit either is … or isn’t. In general, the following attributes contribute to a culture that retains the best talent:
- A user-friendly environment. Both physical environment and the general “feel” of our workplace are critically important. Start by ensuring that each employee’s work station is professional, well equipped and maintained, and updated and furnished as needed for optimal productivity. This sends a clear message that you care, not only about business success, but also about your employees’ well-being.
- Help employees to bond with each other. Support socialization, as long as it doesn’t interfere with results. Encourage employees to interrelate via lunches, mentoring and coaching, off-site retreats and company-supported social events. Done right, they are worth every penny.
- Reward and recognize. Provide personal recognition for individual contributions. Reward appropriately, fairly and consistently. Promote from within to provide visibility regarding career growth options along with recognition.
In the above-mentioned survey, insufficient communication was identified as a leading underlying reason for job dissatisfaction. When employees are not privy to information, they believe will help them perform better or are kept in the dark regarding company developments, they feel that their employer doesn’t value them – and that critical element of trust dissolves.
- Continually build two-way dialogue. A comprehensive, multi-media communication plan should parallel your strategic and operational plans. Tools include social media, staff and town hall meetings, email and newsletters.
- Listen actively. Your culture should encompass an open-door policy, whereby staff on all levels are encouraged to approach their managers, share their ideas, and voice their concerns.
- Be transparent. Few things are as important in business today. Your employee may not always like what they hear, but they will respect you for being open and honest.
Talent Bridge specializes in custom-fit talent sourcing, recruitment and retention solutions that can help secure your winning strategy in the Charlotte market and beyond. Contact us today to learn more.