Concerned about retaining and engaging your employees? You’re not alone! Shockingly, Gallup’s State of the Global Workplace 2022 report revealed that only 21% of employees are engaged at work. Factors contributing to this lack of engagement are numerous, and as we pointed out in our previous essay, “Assumptions Impact Retention,” we believe that assumptions, specifically, organizations and leaders ‘assuming’ without confirmation that their employees are ok is at the heart of the issue. The error of assumption can lead to complacency, lost relationships, and decreased productivity. At Chapter tOO, we’re committed to helping organizations and teams mitigate these risks and improve employee engagement.
If the ongoing “Great Resignation” has emphasized anything, its the importance of prioritizing employee experiences by cultivating cultures of inclusivity and engagement that attract and retain talent. Environments that prioritize positive employee experiences foster respect, trust, and open communication, leading to higher engagement and retention rates.
Investing in employee experiences and supporting a culture of engagement has numerous benefits. According to an HBR article written by Jacob Morgan, “companies that invest in their employee experience outperform their competitors that don’t. Not only do they grow 1.5x faster, pay better, and produce more than double the revenue, but they are also 4 times more profitable.”
Building a culture of engagement requires several foundational elements:
- Effective Leadership: Leaders play a crucial role in building a culture that promotes engagement and retention. To achieve this, leaders must clearly communicate their vision for the organization and the vital role that employees play in achieving it. They should regularly engage in open dialogue with their team members to understand their needs and concerns, solicit and provide employees with feedback, and show appreciation for the work of their teams. Above all, leaders must set a positive example by demonstrating the behaviors they expect from their employees.
- Effective Communication: communication is a critical element in building a culture of engagement and retention. It fosters trust and helps create a sense of shared purpose and commitment among employees. Organizations that prioritize communication regularly share their organizational goals, company updates, and recognize employee achievements. By doing so, employees feel valued, informed, and more connected to the organization. As a result, they are more likely to stay engaged, motivated, and committed to achieving the organization’s objectives.
- Empowerment: When employees are given the freedom to take ownership of their work, make decisions, and pursue opportunities for growth and development, they become more invested in the success of the organization. Empowered employees feel valued and trusted, which can foster innovation and lead to increased job satisfaction and motivation.
- Investment: Providing opportunities for growth and development is a key factor in keeping employees engaged, motivated, and committed to their work. In fact, according to a survey by LinkedIn, 93% of employees would stay at a company longer if it invested in their careers. By investing in employee development, organizations can not only retain valuable talent but also enhance their skills, knowledge, and expertise, which can lead to improved productivity, innovation, and competitiveness.
- Recognition: Employee recognition can lead to a boost in employee engagement and productivity. In fact, according to Zippia, 80% of employees reported that they would work harder if they were better recognized.
While recognition is crucial for engagement, we want to acknowledge that not all organizations can afford to implement robust recognition programs. However, low-cost or no-cost strategies exist, including:
- Verbal or written recognition: A simple “thank you” or “great job” can go a long way.
- Celebrating milestones: Recognize employees’ work anniversaries, birthdays (ask first and remember that not all cultures or people celebrate birthdays), or other milestones of significance to the employee.
- Peer recognition: Encourage employees to recognize and appreciate their colleagues’ work.
Creating a culture of engagement isn’t just good for employees, it’s good for business!
Ready to boost retention and create a culture of engagement? Connect with us today to learn how we can help.