The Great Resignation is underway, and many organisations will already be feeling its effects. Now that employees are holding more power due to a need for talent, the conversation has turned to how organisations can attract and retain talented people.
We believe the answer is this: by creating a work culture that focusses on employee satisfaction, by boosting engagement and well-being, organisations will put themselves in the best position possible to keep their current staff, and bring in new talent.
Brooks Holtom conducted a study with 240 employees of a retail bank in central United States annually for three years. The results of this study showed that more satisfied and engaged employees were less likely to leave, with this relationship strengthening over time. This study shows us there is a positive correlation between satisfaction and low resignations.
So whilst recent events have pushed employee satisfaction into the spotlight, it begs the question, why weren’t employers already doing all they could to optimise employee satisfaction?
Maybe before ‘The Great Resignation’ staff would have been less likely to leave their jobs even if they were unhappy, due to fear of instability or lack of motivation, but retention is not the only reason to focus on staff happiness.
By increasing staff satisfaction organisations can also increase productivity, and cut down on lost hours due to sick leave from stress. A happy and well looked after employee is much more likely to give their role 100%, so when it comes down to it, employee satisfaction is an investment.
Increasing employee satisfaction / happiness comes down to a couple of factors, boosting engagement with their job and organisation, and improving their well-being. This might sounds simple but these two things encompass a lot, such as:
- Do they feel excited about their role?
- Do they feel proud to work for the organisation?
- Do they have strong relationships with their manager and co-workers?
- Do they see a future with the organisation?
- Does their role cause them too much stress?
- Do they get enjoyment from their role?
- Do they have a good work-life balance?
- Do they feel secure in their job?
- Do they feel seen and appreciated?
So how do you improve on these engagement and well-being factors in order to increase employee satisfaction? We believe many of these can be improved by using great continuous performance management.
This should include regular communication between managers and staff, setting short term agile goals, setting personal development goals, enabling feedback between co-workers and tracking engagement across the organisation.
All of these things can strengthen the employee’s relationship with colleagues and the organisation itself. Good communication with managers allows the employee to feel heard, and for issues to be spotted and dealt with together.
Setting shorter term goals helps reduce burn out with yearlong objectives, and keep the employee interested in engaged with their role.
Feedback between co-workers allows for all employees to receive praise for a job well done, and get advice on how to improve on certain aspects of their role moving forward.
And tracking engagement means HR and leaders can see if engagement is dipping, either across the board or just in one department, meaning they can take steps to try to find and solve what is causing this.
In conclusion, staff satisfaction and well-being should always be at the top of your priority list. Employees are an organisation’s most important asset, an organisation can’t run without people, and with an enthusiastic, happy team, an organisation can go from good, to great.
To find out how Clear Review can help to improve you employee satisfaction book a demo or speak to a member of our team: +44 (0)20 3637 4489
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