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Read Part One of this two-part series here

6. SET REASONABLE & CUSTOMIZED EXPECTATIONS
Discouragement and low morale often stem from unrealistic expectations or goals that aren’t obtainable. While leadership may set these if individuals and teams aren’t involved, this can lead to cultural issues. For example, A new hire may not be able to achieve goals if the training and coaching by a manager are not available. A mediocre performer may not be able to reach a quota if someone on her team with more seniority continuously adds more work so he can meet his objectives. Instead, establish realistic but challenging and obtainable performance goals – specifically those that can be broken down into clear, actionable items. Don’t do this just by guessing. Involve teams and individuals so that they participate in the process. Also, expectations of each person’s role, quotas vs. benchmarks, and how quotas impact individual/team/organization goals. Assign tasks to specific people and hold each person accountable for completion. Customize employees’ personal experiences based on what they do best so that their work drives and motivates them. This customization keeps them engaged, and your organization benefits from their skills and reaps the rewards of their labor.

7. PRACTICE THE PLATINUM RULE
The Platinum Rule: “Treat others how they want to be treated.” Ask questions to understand more about others. Be open to feedback and learning new perspectives even if it is uncomfortable. Listen and allow explanations before making decisions or judgments. If an apology is needed, offer it. Communicate boundaries and enforce them with yourself and others based on the workplace and others’ communicated boundaries. Be sensitive to others. Recognize that there is always room for improvement. This helps others feel valued, heard and understood.

    • Onboarding
      One out of ten new hires left a company because of a poor onboarding experience. 37% said the onboarding experience was terrible because their managers did not play a critical role in supporting their onboarding experience. (27)
    • Leadership
      Managers account for 70% of how employees perceive a company. The relationship with their direct manager is based on how employees engage in their role and how loyal they are to the company.25% of employees left a job because company leaders did not treat them with dignity. The 62% of employees who opted to stay with their current employers say it is because they trust their corporate leadership. Only 35% of employees say their managers meet with them at least once a month. Even more alarming is that 12% of employees say they never meet their managers one-on-one.

Employees are twice as likely to disengage if their managers ignore them. 92% of employees believe that empathetic leaders are essential for employee retention. (28, 29, 30, 31, 32, 33)

    • Employer Concern for Employee as a Person
      Only 31% of employees strongly agree that their employers care about them as individuals. Not surprising then is that 33% of employees have left a job because they didn’t feel their employer cared about them as a person (34)
    • Feedback and Action
      82% of employees appreciate constructive feedback, whether positive or negative. 64% say they intend to resign, citing the “lack of being heard” as their reason. While 60% of workers report that their company has actively asked for feedback, almost all said that the organization did not take action on their concerns. Only 16% of employees say their company consistently acts on their sentiments. Nearly of employees indicate that it would reduce voluntary turnover if leadership acted on employee requested feedback. (35, 36, 37)
    • Work Culture
      77% of job seekers evaluate a company’s culture before submitting a job application. 56% of employees said they would stay with a company that paid less than the competition if it had a more positive work culture. (38,39)

PRO TIP: It’s a job seeker’s market. Job seekers now control the narrative about hiring. Organizations must be aware of job seekers’ tools to investigate a company. It’s no longer just about what you have in the job opening or on your website. Job seekers will analyze financials (if available), reputation, and reviews. They may buy your product and see how your sales process, service/support, and shipping work.

Additionally, they will investigate the social impact you have made in your community and that of key organizational stakeholders. Employers need to know how the public perceives their brand. Top talent is interviewing organizations, their people, and processes as much as the employers are interviewing them.

8. EMPHASIZE EMPLOYEE STRENGTHS
Employees don’t like being micromanaged and prefer to do the work they are trained to do, are naturally gifted to do, or are good at doing. They want their work to be enjoyable. When workers get to do what they do best and their strengths are utilized, they will want to do more. 42% of employees looking to find a new job say they feel their company is not maximizing their skills and abilities. 60% speed up their resignation due to unsupportive managers, dull work duties, and a less than ideal work culture. Nearly 60% of job seekers desire to find a job and work culture where their abilities align with what they do best. (40, 41, 42)

PRO TIP:  Pay close attention to talent seeing lateral job opportunities within your company. They may seek new challenges or learning not offered in their current role. This may be especially true if this is from top performers. Remember, not every employee desires a promotion. Some want to be challenged in new ways or to try something fresh or new.

9. DEMONSTRATE APPRECIATION, OFTEN
Help your employees to feel secure and confident in their performance and contributions to the company. Employees need to recognize that they are a valued employee and that they matter. Offer regular reviews and raises. A striking 80% of employees who leave their company say it’s because of a lack of appreciation.

Employees who receive meaningful feedback are four times more likely to be engaged. 68% of workers state that employee recognition creates a positive culture and helps with retention and recruitment. Organizations with formal recognition programs are twelve times more likely to have better business outcomes. Companies that fail to recognize and award top performers have higher turnover rates. Additionally, high-performing talent is most likely to feel unappreciated and resign. (43, 44, 45, 46, 47)

PRO TIP:
Some helpful articles on demonstrating employee recognition and appreciation can be found below:

10. BOOST ACTIVE ENGAGEMENT
Encourage team building. Utilize contests, gamification, competitions, and other incentives to boost engagement. A highly engaged workforce can reduce company turnover by 25-99%. After improving their employee engagement efforts, organizations with high turnover rates can see a 25% reduction. (48, 49)

11. (BONUS) ENCOURAGE EMPLOYEE GROWTH
Offer opportunities for learning, professional development, and advancement. This can come from training, paid tuition toward courses, more responsibilities, cross-training in another department, more earning potential, etc. Identify what motivates employees and encourage these through actionable motivators.

  • Higher Pay
    Nearly half of full-time workers would rather be at a company that pays them more. Higher compensation may work better for Millennials (49%) and Gen-Xs (56%).
  • Sense of Purpose
    • 39% would rather have a sense of purpose at work.
    • 42% of Gen-Zs would rather be at a company that gives them a sense of purpose.
    • Gen-Z considers social activism exceptionally important (50, 51)
  • Career Development
    Nearly 80% of employees say they feel “on their own” regarding career development in their company. 21% of employees cite inadequate career development as their reason for quitting. 43% of employees cite a lack of career growth as the reason for leaving their company.

It’s not surprising that nearly half of job seekers say career growth opportunities are more important than compensation(52, 53, 54, 55)

  • Training and Coaching
    • 46% of employees say that their organization’s training opportunities make them inclined to stay with their present employer. (56)
  • 3 Case Studies on the ROI of training (57)

1. Cheesecake Factory invests as much as $2000 annually in every employee. The ROI is sales profits of $1000 per every square foot of their restaurants. (According to the dining industry, this is twice the industry average!)
2. ADP invests in coaching resulting in a stable, scalable 7% increase in sales volume.
3. Keller Williams Realty, Inc. provides a worldwide sales training program that results in an average increase of 114% increase in sales for each participant.

The pandemic and the great resignation have caused companies to recognize that their internal customers (employees) have high importance and value. Companies are now re-evaluating what their workforce expects and how they can retain key talent and attract the critical talent they need to prevent turnover.

Discover more inspiring ideas for exciting experiences that boost morale and engage your people. Contact Gavel International for details.

 __________

SOURCES:

  1. https://www.lessonly.com/blog/keeping-morale-high-turnover-high/
  2. https://www.forrester.com/blogs/itsturnovertimeforsales/
  3. https://www.gallup.com/workplace/389807/top-things-employees-next-job.aspx
  4. https://www.brightplan.com/
  5. https://www.prnewswire.com/news-releases/the-great-resignation-a-majority-of-employees-would-quit-their-job–and-only-1-in-4-workers-would-accept-one–if-company-values-do-not-align-with-personal-values-301404919.html
  6. https://blog.cybergrants.com/celebrate-national-volunteer-week-201604.html
  7. https://www.mckinsey.com/business-functions/people-and-organizational-performance/our-insights/married-to-the-job-no-more-craving-flexibility-parents-are-quitting-to-get-it
  8. https://www.limeade.com/company/newsroom/limeade-releases-2020-employee-care-report-uncovering-hidden-causes-of-workforce-turnover/
  9. https://www.forbes.com/sites/jeannemeister/2021/12/16/the-future-of-work-offering-employee-well-being-benefits-can-stem-the-great-resignation/
  10. 10th Annual Workplace Benefits Study, Guardian, 2022, Mind, Body, Wallet
  11. 10th Annual Workplace Benefits Study, Guardian, 2021, Inflection Point: How COVID-19 is reshaping the employee benefits paradigm
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  23. https://www.gallup.com/workplace/237059/employee-burnout-part-main-causes.aspx
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  27. https://silkroadtechnology.com/news/job-seekers-are-now-in-the-drivers-seat/
  28. https://www.limeade.com/company/newsroom/limeade-releases-2020-employee-care-report-uncovering-hidden-causes-of-workforce-turnover/
  29. https://www2.deloitte.com/content/dam/Deloitte/mx/Documents/about-deloitte/Talent2020_Employee-Perspective.pdf
  30. https://emplify.com/blog/state-of-employee-turnover/
  31. https://officevibe.com/employee-engagement-solution/employee-feedback#statistics
  32. https://getbambu.com/blog/importance-of-employee-engagement/
  33. https://news.gallup.com/businessjournal/182792/managers-account-variance-employee-engagement.aspx
  34. https://www.limeade.com/company/newsroom/limeade-releases-2020-employee-care-report-uncovering-hidden-causes-of-workforce-turnover/
  35. https://officevibe.com/employee-engagement-solution/employee-feedback#statistics
  36. https://www.achievers.com/wp-content/uploads/2021/03/Achievers-Workforce-Institute-2021-Engagement-and-Retention-Report.pdf
  37. https://www.reviewtrackers.com/blog/managing-employee-feedback/
  38. https://www.businessnewsdaily.com/15206-company-culture-matters-to-workers.html
  39. https://www.glassdoor.co.uk/blog/mission-culture-survey/
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  41. https://www.overtimeit.com/c3plempn/shrm-paid-leave-benchmarking-report-2020
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  44. https://www.gallup.com/workplace/357764/fast-feedback-fuels-performance.aspx
  45. https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/Pages/employee-recognition-2018.aspx
  46. https://www.quantumworkplace.com/recognition-in-the-workplace-secrets-stats
  47. https://sloanreview.mit.edu/article/toxic-culture-is-driving-the-great-resignation/
  48. https://www.achievers.com/blog/6-mind-blowing-stats-employee-engagement/
  49. http://www.cultureamp.com/blog/engage-to-increase-retention/
  50. https://www.lever.co/research/2022-internal-mobility-and-employee-retention-report
  51. https://www.pewresearch.org/science/2021/05/26/gen-z-millennials-stand-out-for-climate-change-activism-social-media-engagement-with-issue/
  52. https://www.businessinsider.com/the-main-reason-an-employee-would-quit-a-job-2019-6
  53. https://www.shrm.org/ResourcesAndTools/business-solutions/Documents/Human-Capital-Report-All-Industries-All-FTEs.pdf
  54. https://builtin.com/employee-turnover-statistics#7
  55. https://www.betterbuys.com/lms/professional-development-stats/
  56. https://www.betterteam.com/training-new-employees
  57. https://www.atchuup.com/top-5-companies-invest-employee-training/
Eloisa Mendez
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