Thanks to the current labour market situation, committed and well-trained specialists have bright prospects and can choose from an oversupply of vacancies. Many take advantage of the situation and plan to change employers to improve their careers. For companies that are already struggling with serious staff shortages, weak employee retention is an additional risk. Because if good employees are lost without their positions being filled, the workload for the other colleagues increases and with it, the dissatisfaction with the job and employer. A negative spiral is set in motion, which results in further layoffs. Below are a few takeaways on how happy staff equals staff retention.

Satisfied employees support recruiting

There is no question: companies must make recruiting a top priority if they want to remain competitive. However, the acquisition of new specialists must not impair the loyalty of existing employees to the company. For at least two reasons: On the one hand, high fluctuation makes recruiting an expensive Sisyphus task. On the other hand, a high level of employee satisfaction has a positive effect on the employer brand and thus on talent acquisition. A workforce that enjoys coming to work, that appreciates their employer and identifies with the company is the most convincing argument you can come up with in recruiting.

What makes your employees happy?

So what does the satisfaction of your employees depend on? How can the bond with the company be strengthened so that the desire to change jobs does not arise in the first place? Through surveys in over 1,000 companies worldwide, the Canadian software provider Officevibe was able to collect insightful data on the subject of employee satisfaction and summarized this in key findings:

Appreciation

Show appreciation to your employees! Anyone who does not receive recognition for good work will sooner or later become frustrated. A lack of appreciation is, therefore one of the most common reasons for termination worldwide. According to Officevibe surveys, 72 percent of employees receive too little or no praise. 83% of those surveyed felt that praise from the boss was more valuable as recognition than a bonus, for example. Appreciative words cost nothing. Managers need to be more aware of the importance of praise and recognition for employee satisfaction.

Feedback

Give your employees regular, qualified feedback! But employees don’t just want to be praised, they want to improve and develop. 83 percent of those surveyed therefore value qualified feedback from colleagues and superiors, regardless of whether it is positive or negative. However, it must be timely and regular. Monthly one-on-one meetings, weekly planning sessions and daily meetings are opportunities to establish a healthy feedback culture in the company and in this way to encourage employees.

Personal development

Support every employee on their individual career path! Employees are more motivated when they have a goal in mind. However, 56 percent of the employees do not see any opportunities for advancement in their company. In addition, they are usually not trusted to act on their own responsibility. Instead, excessive micromanagement disrupts the building of trust and slows employees down in their autonomy. The result is frustration. Through individual support offers and professional training, you can actively support employees in improving their skills and achieving their goals.

Work-life balance

Offer opportunities to  reconcile work and private life without stress!   According to Officevibe, 60 percent of employees have a negative impact on their work life. Almost half say they feel stressed at work. Overloading is usually the cause. Around 70 percent of employees often or occasionally take work they have left behind with them. In the long term, such an overload leads to lost productivity and, in the worst case, to burnout. Sensitized managers and company health management can prevent this.

Collegiality

Establish an open corporate culture and a collegial working atmosphere! In order to feel really comfortable at work, a collegial environment and a pleasant working atmosphere are extremely important. The sad reality: 40 percent of employees have already witnessed bullying at work. Many also lack social interaction with colleagues. But the relationship with the superiors is not the best either. In many companies, the personal distances to managers are too great or there is a lack of transparency and openness. Establish transparent internal communication, promote team building and an open, appreciative corporate culture.

Your employees are the company’s most valuable asset and also your figurehead as an employer. Before you fully focus on recruiting new talent, make sure your employees have no reason to change jobs.

Source: https://officevibe.com/guides/state-employee-engagement