Category Employee Retention

How Employee Success Drives Profitability: A COO’s Guide to Organizational Design and Performance Enablement

COOs must enable continuous innovation to uphold their organization’s competitive edge and profitability via strategic operations. Central to this endeavor is maximizing human resource effectiveness.

So, how do you empower your employees to perform at their peak?

The answer lies in embracing the significance of employee success, and realizing that organizational design and performance enablement are instrumental to your organization’s ability to win.

In this article, we’ll delve into the reasons why COOs should prioritize employee success, how an effective organizational design can bolster performance, and ways to harness performance enablement for maximizing profitability.

Introducing Employee Success

Employee success refers to an employee’s capacity to realize their personal and professional aspirations within the workplace. It comprises various elements like job satisfaction, career progression, productivity, and the aptitude to contribute positively to the company’s vision.

It’s essential to understand that employee success isn’t confined to hitting targets or goals. It also encapsulates the feeling of fulfillment, motivation, and engagement in their tasks, massively amplifying their overall performance.

The pillars of employee success incorporate:

Accomplishment: Employees should be able to successfully finish their tasks and meet their specific job objectives. Recognition and rewards for achievements can boost their motivation and drive.

Growth: Career development and advancement opportunities are essential for employee success. Employees should continually learn and evolve without feeling stuck in their roles.

Satisfaction: Employees should find contentment in their job, which covers the work climate, relationships with peers, and the kind of work they execute.

Well-being: Success is synonymous with happy and healthy employees. Employers must emphasize the well-being of their staff, assuring a harmonious work-life balance, stress management, and a safe, pleasant work environment.

Contribution: The capability to contribute significantly to the organization’s objectives is a crucial indicator of its success. Their work should substantially influence the organization’s mission, values, and objectives.

Engagement: Employee engagement translates to an employee’s emotional commitment to their organization. Highly engaged employees are likely to go above and beyond, driving success in their roles and for the company.

The Importance of Employee Success for COOs

COOs should prioritize employee success for several reasons:

Performance and Productivity: Effective employees are high performers and more productive. They function efficiently and significantly contribute to the organization’s goals and objectives.

Employee Retention: When employees experience success and fulfillment in their roles, they are less likely to leave the company. This lowers turnover expenses and ensures a steady, seasoned workforce.

Business Growth: Successful employees fuel business growth. Their achievements directly enhance the organization’s success. They could bring innovative ideas, raise sales, ensure customer satisfaction, and help the company sustain competitiveness.

Culture and Morale: Success breeds success. When employees feel successful, they tend to be more engaged and content, positively affecting the overall workplace culture and morale and attracting top talent.

Leadership Development: Nurturing employee success helps COOs spot potential leaders in the organization, aiding in succession planning and leadership continuity.

Agility and Adaptability: Successful employees are usually more agile and adaptable, vital skills in today’s high-speed business environment. They effectively manage change and help the organization navigate through opportunities and challenges.

Risk Management: Investing in employee success aids in identifying and mitigating risks. Engaged, committed employees are less likely to cause compliance issues or tarnish the company’s reputation. In essence, advocating for employee success is about safeguarding the organization’s future.

A COO that encourages and cultivates their employees’ success is investing in the company’s long-term stability, growth, and overall success.

The Role of Organizational Design in Employee Success

Organizational design plays a key role in driving employee success. An efficient organizational design can:

  • Ensure employees have clear job expectations and responsibilities, and access to resources they need to succeed.
  • Provide clarity around decision-making processes and help identify superfluous areas or overlaps that can be eradicated for improved efficiency.
  • Promote collaboration and enable employees to work independently and effectively.
  • Strategically position their company for long-term success.

The Role of Performance Enablement

Performance enablement is another crucial aspect of ensuring employee success. It involves equipping employees with the necessary tools, skills, feedback, training, resources, and development opportunities they need to excel in their roles.

This could entail steps such as:

  • Implementing an effective performance management system.
  • Creating mentorship programs.
  • Developing career progression plans.
  • Offering targeted learning opportunities.
  • Utilizing technology.
  • Using analytics to gauge results

When executed properly, performance enablement not only guarantees that employees are successful but also drives higher profitability for the organization as a whole.

As a COO or CHRO, it’s your duty to ensure that your organization values employee success and introduces systems that encourage it. By investing in organizational design initiatives and performance enablement measures, you’ll improve employee satisfaction and lay the groundwork for increased profitability in the future.

Begin your journey of investing in your people and enhancing profitability today! Get in touch with What Works Consultants for a complimentary discovery call.

Read More:

  1. Drive: The Surprising Truth About What Motivates Us” by Daniel H. Pink: This book provides insights into what truly motivates employees to succeed and perform at their best.
  2. Work Rules!: Insights from Inside Google That Will Transform How You Live and Lead” by Laszlo Bock: In this book, Google’s former Head of People Operations reveals the secrets of the company’s success in terms of employee satisfaction and engagement.
  3. “The Advantage: Why Organizational Health Trumps Everything Else In Business” by Patrick Lencioni: This book gives insights into how organizational structure and culture can impact business success.
  4. “The Fifth Discipline: The Art & Practice of The Learning Organization” by Peter M. Senge: This book focuses on how companies can develop learning organizations, which is key to employee success and business growth.
  5. Carrots and Sticks Don’t Work: Build a Culture of Employee Engagement with the Principles of RESPECT” by Paul L. Marciano: This book offers practical strategies for increasing employee engagement and success.
  6. First, Break All The Rules: What the World’s Greatest Managers Do Differently” – By Marcus Buckingham and Curt Coffman: This book provides insights into management styles that encourage employee success.

Articles:

  1. “The impact of employee engagement on performance” by Harvard Business Review: This article provides a detailed analysis of how employee engagement affects organizational performance.
  2. Why Happy Employees Are 12% More Productive” published in Fast Company: This article explores the correlation between employee happiness (a factor of employee success) and productivity.
  3. “Building a Game-Changing Talent Strategy” published in Harvard Business Review: This article provides insights into creating an effective talent strategy, focusing heavily on performance enablement.
  4. “Organizational design: The rise of teams” by Deloitte Insights: Insightful article on how organizational design impacts success.
Top Ways Departmental Leaders Can Enable Performance

Introduction The success of any organization largely depends on the productivity of its employees. Departmental leaders play a crucial role in enabling performance and maximizing employee potential. This blog post examines the top ways in which departmental leaders can optimize performance within their teams. We’ll discuss the following strategies:

  1. Setting clear expectations and goals
  2. Providing continuous feedback and support
  3. Offering opportunities for professional development
  4. Recognizing and rewarding achievements
  5. Encouraging teamwork and collaboration
  6. Promoting work-life balance

1. Setting clear expectations and goals A crucial aspect of enabling performance is ensuring that each employee understands their role, responsibilities, and objectives within the organization. Departmental leaders should:

  • Clearly communicate the department’s goals and expectations (1)
  • Set realistic, measurable, and attainable performance targets
  • Ensure employees understand how their individual performance contributes to the organization’s overall success (2)

2. Providing continuous feedback and support Research shows that constant feedback is vital for employee development and performance improvement. Leaders should:

  • Conduct regular performance reviews and offer constructive feedback
  • Address performance issues promptly and work with employees to develop improvement plans (4)
  • Provide mentorship and coaching to help employees grow professionally (5)

3. Offering opportunities for professional development Employees who believe their company offers opportunities for growth and development are more likely to feel engaged and stay with the organization. Departmental leaders can support employee development by:

  • Identifying skill gaps and providing appropriate training and development programs
  • Creating growth opportunities through cross-functional projects or job rotations
  • Encouraging employees to attend industry conferences and workshops (6)

4. Recognizing and rewarding achievements Acknowledging and rewarding hard work and accomplishments can significantly improve employee morale and performance. Departmental leaders can:

  • Implement a formal recognition program that rewards outstanding performance
  • Offer various types of rewards, such as bonuses, promotions, or flexible work schedules
  • Celebrate team successes and milestones with team-building events or activities (7)

5. Encouraging teamwork and collaboration Effective teamwork and collaboration lead to better problem-solving, innovation, and overall performance. To foster a collaborative environment, department leaders should:

  • Ensure employees understand the importance of teamwork and establish clear team goals and objectives
  • Encourage open communication and information sharing among team members
  • Organize team-building activities that instill trust and camaraderie (8)

6. Promoting work-life balance Maintaining a healthy work-life balance is essential for employee satisfaction and performance (20). Departmental leaders should:

  • Encourage employees to take breaks and avoid excessive overtime (9)
  • Offer flexible work arrangements, such as remote work or flexible hours
  • Support employees in managing work-related stress and addressing personal issues (10)

Conclusion Departmental leaders can significantly impact employee performance by adopting these strategies. By setting clear expectations, providing feedback and support, offering professional development opportunities, recognizing achievements, encouraging teamwork, and promoting work-life balance, leaders can create an environment conducive to high performance and employee satisfaction.

References

  1. Locke, E. A., & Latham, G. P. (2002). Building a practically useful theory of goal setting and task motivation: A 35-year odyssey. American Psychologist, 57(9), 705-717.
  2. Rogg, K. L., Schmidt, D. B., Shull, C., & Schmitt, N. (2001). Human resource practices, organizational climate, and customer satisfaction. Journal of Management, 27(4), 431-449.
  3. London, M. (2003). Job feedback: Giving, seeking, and using feedback for performance improvement. Lawrence Erlbaum Associates Publishers.
  4. Noe, R. A. (2010). Employee training and development. Irwin/McGraw-Hill.
  5. Allen, D. G., Bryant, P. C., & Vardaman, J. M. (2010). Retaining talent: Replacing misconceptions with evidence-based strategies. Academy of Management Perspectives, 24(2), 48-64.
  6. Nelson, B. (1994). 1001 ways to reward employees. Workman Publishing.
  7. West, M. A. (2002). Sparkling fountains or stagnant ponds: An integrative model of creativity and innovation implementation in work groups. Applied Psychology, 51(3), 355-387.
  8. Greenhaus, J. H., Collins, K. M., & Shaw, J. D. (2003). The relation between work-family balance and quality of life. Journal of Vocational Behavior, 63(3), 510-531.
  9. Kossek, E. E., & Ozeki, C. (1998). Work-family conflict, policies, and the job-life satisfaction relationship: A review and directions for organizational behavior-human resources research. Journal of Applied Psychology, 83(2), 139-149.
  10. Allen, T. D., Herst, D. E. L., Bruck, C. S., & Sutton, M. (2000). Consequences associated with work-to-family conflict: A review and agenda for future research. Journal of Occupational Health Psychology, 5(2), 278-308.

Note: If utilizing references, please check your university library as DOI numbers were not provided.

Unlock Organizational Identity: How CEOs Can Create Purpose, Pride and Belonging to Enhance Performance

Creating an organizational identity is a powerful tool for CEOs and leaders, enabling them to shape the collective sense of purpose, pride, and belonging that employees have toward the organization. It can help enhance employee performance through improved attitudes and behaviors, while also enhancing the overall reputation of the organization. In this article, we discuss the importance of developing organizational identity and offer strategies for how CEOs can create an environment where employees feel connected to their organization and motivated to perform.

Organizational identity is a complex concept, but it can be boiled down to the collective sense of purpose, pride, and belonging that employees have toward the organization. It’s a powerful force that shapes attitudes and behaviors – both positive and negative. A strong organizational identity connects employees to their core values and mission, motivating them to achieve success as a team. It also helps create an environment of trust and loyalty; when employees are proud of their organization and feel a sense of belonging, they will be more likely to contribute positively to its success.

The role of CEOs in shaping this identity is critical. Their decisions directly influence how employees perceive the organization, so it’s essential for leaders to take an active role in creating an environment where employees feel connected to the business and are inspired to reach their full potential.

Here are some strategies for how CEOs can create organizational identity:

1. Establish clear values and goals: The first step is to define the organization’s core values and set clear goals for achieving success and growth. These should be communicated clearly throughout the organization so that everyone understands what they’re working towards. This will help drive motivation and commitment among employees as they strive to reach these objectives.

2. Foster collaboration and communication: It’s important for CEOs to foster open communication between departments and teams so that everyone feels connected to one another. This could include implementing regular meetings or online forums for sharing updates on progress towards goals, brainstorming ideas, or discussing challenges faced by different groups within the organization. By fostering collaboration across teams, organizations can strengthen bonds between individuals while also improving problem-solving skills and performance overall.

3. Celebrate successes: Celebrating achievements – both big and small – is key for building employee morale and pride in the business as a whole. Showing appreciation for hard work demonstrates that leadership recognizes each individual’s contributions, which can further strengthen organizational identity by creating a feeling of inclusion within the company culture.

4. Involvement in community initiatives: Corporate social responsibility has become increasingly important in today’s world; thus, it’s essential for CEOs to take advantage of this opportunity by getting involved in community initiatives such as volunteer projects or charitable donations that align with the company’s core values.

These activities will help deepen engagement among employees while also promoting positivity around the brand externally – all contributing toward building an impactful organizational identity over time.

Creating an organizational identity isn’t always easy – but when done right, it can result in significant rewards, from improved employee engagement levels through higher performance enablement via greater loyalty amongst staff members. As such, it should be considered essential for any CEO looking to build a successful team-oriented culture within their organization – one that encourages collective purpose pride, and belonging whilst enabling the achievement of targets set forth by leadership. By taking an active role in developing an organizational identity within their businesses – utilizing strategies such as setting clear values and goals while also celebrating successes achieved – leaders can create a lasting impact on employee attitude and behavior whilst enhancing overall performance too!

Reference

  1. Schein, E. H. (2010). Organizational culture and leadership (4th ed.). Jossey-Bass.
  2. Denison, D. R. (1990). Corporate culture and organizational effectiveness. John Wiley & Sons.
  3. Kotter, J. P., & Heskett, J. L. (1992). Corporate culture and performance. Free Press.

Read More

Buy Organizational Culture and Leadership on Amazon

How Leaders Can Recognize and Prevent Quiet Quitting with Empathy and Understanding

Quiet quitting is a phenomenon that can manifest in the workplace when leaders fail to take the time to understand their team members. It’s a type of resignation, but one that often goes unrecognized and unchecked, leading to an unhappy work environment and decreased productivity. In this article, we’ll explore what quiet quitting is, how it started, and how leaders can recognize and prevent it from happening. We’ll also share some golden nuggets of advice for leaders who are looking for ways to create a more positive work culture.

What is Quiet Quitting?

Quiet quitting is a type of resignation that occurs when an employee intentionally underproduces due to a lack of enthusiasm for their job. This may happen for a number of reasons, including feeling undervalued or unappreciated, lack of job satisfaction, or lack of communication from leadership. Quiet quitting can be hard to recognize at first because the employee slowly fades away from their job responsibilities, eventually leaving the organization or slipping by day to day in a state of underperformance.

How the Phenomenon of Quiet Quitting Started

The concept of quiet quitting was first introduced by organizational psychologist Emma Seppälä in her book The Happiness Track. According to Seppälä, quiet quitting occurs when employees choose not to communicate their feelings about the workplace with their superiors or colleagues. Instead, they simply start doing less work until they eventually leave completely without making a fuss. Sometimes they do not provide notice. This differs from regular quitting where an employee maintains performance and typically informs their employer and other team members within a reasonable amount of time before officially leaving the company. Quiet quitters are often fired due to non-performance.

Why is it Important for Leaders to Recognize and Prevent Quiet Quitting?

It’s important for leaders to recognize and prevent quiet quitting because it can have a negative impact on the team’s productivity, morale, and ultimately the company’s bottom line. If left unchecked, quiet quitting can spread across the team or department and create a toxic work environment. It can also lead to high turnover rates if employees feel undervalued or unappreciated.

When quiet quitting occurs, it can have negative effects on the entire organization. Not only are resources wasted, but morale also suffers since current staff might become aware that someone is not pulling their own weight – leading them to feel stressed and undervalued. Thus, it’s important for leaders to recognize these behaviors so preventative measures can be taken and future occurrences minimized as much as possible.

Recognizing Quiet Quitting Behaviors

There are certain signs that leaders can look out for when trying to identify quiet quitters on their teams.

1) Decreased motivation levels

2) Difficulty focusing in meetings and conversations with coworkers

3) Lower quality output than usual in terms of work produced or fewer hours invested into projects than usual

4) Decrease in engagement with tasks assigned.

Taking Preventative Measures and Retaining Employees Who are About to Quiet Quit

Quiet quitting can be eradicated through active connection with your employees. This includes:

  • Regular check-ins
  • Confidential/Anonymous job satisfaction surveys
  • Action plans based on employee data collection
  • Career growth initiatives

The net net of this is, if you invest in your employees, they will invest in you.

Empathy as a Retention Tool

As a leader, it’s essential that you cultivate empathy among your team members so they feel valued and appreciated no matter what role they play within your organization.

1) Ensure everyone has access to clear goals/objectives and open pathways for communication

2) Assure performance metrics and expectations are clear

3) Give everyone enough room needed express concerns openly while still respecting each other’s respective roles within the organization

4) Develop effective feedback loops to help foster empathetic relationships between coworkers

5) Show appreciation whenever possible (even small gestures like saying “thank you” go a long way here)

Positive work cultures minimize the risk of having key team members quietly exit without warning. If you need help executing measures that help with quiet quitting, reach out to us for a complimentary consultation.

Read More About This Topic

Here are some backlinks that will support this article:

  1. “The Happiness Track” by Emma Seppälä: https://www.amazon.com/Happiness-Track-Science-Accelerate-Success/dp/0062344006
  2. “Recognizing and Preventing Quiet Quitting” by Forbes: https://www.forbes.com/sites/forbescoachescouncil/2021/06/14/recognizing-and-preventing-quiet-quitting/?sh=3d4a4b0c7f19
  3. “How to Recognize and Prevent Quiet Quitting in the Workplace” by The Balance Careers: https://www.thebalancecareers.com/how-to-recognize-and-prevent-quiet-quitting-in-the-workplace-4161819
  4. “Why Leaders Need Empathy More Than Ever” by Harvard Business Review: https://hbr.org/2020/04/why-leaders-need-empathy-more-than-ever
Unlocking the Power of Inclusion and Belonging: Four Ways Leaders Can Foster Teamwork and Drive Performance

Leaders can create a spark to ignite a culture of inclusion and belonging by intentionally creating an environment where all employees feel valued and respected. A culture of inclusion and belonging drives performance, unleashes creativity, strengthens teamwork, improves communication, and builds trust among colleagues. This article explores how organizational leaders can foster an inclusive team atmosphere and create a sense of belonging for their employees. By doing this, they can go beyond checkbox DE&I tactics to strategically unlock the power of inclusion and belonging to drive organizational performance.

To truly create a culture of inclusion and belonging in the workplace, leaders can take several steps to ensure everyone feels welcome and included.

#1: Create a Psychologically Safe Environment

The first step is creating an environment where open dialogue is encouraged among team members. This groundwork can quickly become a checklist of to-dos without a strategic groundwork of psychological safety, where an effort is made to increase comfort in communication.

Leaders can foster this atmosphere of openness by:

  • Modeling good communication practices themselves
  • Actively listening to others’ ideas and opinions
  • Asking questions to get more clarity on the issue at hand
  • Avoiding assumptions or judgments about other people’s experiences
  • Respecting differences in backgrounds or opinions.
  • Establishing ground rules for communication at the beginning of meetings or group conversations

These tactics can help ensure everyone feels heard and respected during discussions.

#2 Commit to Developing a Sense of Belonging

The second step toward building a culture of inclusion is helping employees feel like they belong in the workplace. Feeling like you belong somewhere contributes greatly to better performance outcomes for everyone involved – when people feel accepted and appreciated within their organization, they are more likely to take initiative on projects or tasks without feeling intimidated or discouraged. Leaders should look for ways to provide individual recognition for accomplishments or successes but also celebrate collective achievements as well.

#3: Communicate Performance Expectations

Thirdly, organizational leaders should make sure expectations are communicated throughout the organization so that there is no confusion around roles or responsibilities among team members. When expectations are communicated effectively from the start of any task or project, it not only helps reduce stress levels but also creates an inclusive work environment where everyone feels included and valued for their contributions.

Additionally, having transparent communication across departments will enable employees to stay up-to-date with changes in procedures or policies that may affect their job duties in some way. This ensures everyone is on the same page regarding processes within the organization’s operations.

#4 Understand Diversity Transcends Race

Finally, organizations should recognize that diversity isn’t just a reflection of racial variety – it’s something that must be cultivated to develop acceptance as a norm. Leaders should celebrate differences between employees rather than see them as weaknesses or hindrances to productivity. Open-mindedness is an important factor in embracing different perspectives from diverse backgrounds. This mindset leads to improved team problem-solving and improved customer service experiences when dealing with customers from outside individuals’ familiar demographic groupings. Everyone should feel accepted regardless of external variables like race or age orientation.

Creating a diverse workforce isn’t always easy. However, organizational leaders need to understand that inclusion and acceptance are essential parts of any successful business model.

Taking active steps to unlock the power of inclusion and belonging looks like this:

  • Fostering trusting relationships between colleagues
  • Setting clear expectations
  • Recognizing individual contributions
  • Celebrating diverse perspectives
  • Encouraging open dialogue among team members

By doing this, organizational leaders can unlock the power of inclusion and belonging within their workplaces—leading toward enhanced performance outcomes throughout the organization.

Are you looking to understand your employee experience? Curious about the current inclusion, belonging, and performance environment in your organization? WWC can help. Connect with us now for a complimentary consultation.

References

Grant, A. M., & Parker, S. K. (2009). Redesigning work design theories: The rise of relational and proactive perspectives. Academy of Management Annals, 3(1), 317-375.

Edmondson, A. C., & Lei, Z. (2014). Psychological safety: The history, renaissance, and future of an interpersonal construct. Annual Review of Organizational Psychology and Organizational Behavior, 1(1), 23-43.

Cox Jr, T., Lobel, S.A., & McLeod Jr., P.L.(1991) Effects of ethnic group cultural differences on cooperative and competitive behavior on a group task. Academy of Management Journal, 34(4), 827–847.

Nishii, L.H. (2013). The benefits of climate for inclusion for gender-diverse groups. Academy of Management Journal 56(6):1754–1774.

Homan, A.C., et al. (2019). Diversity in work groups improves team performance because it increases informational diversity. PNAS116(30):14835–14840.

Uncovering the Secret to Employee Retention and Satisfaction in High Turnover Industries

Employee retention and satisfaction are closely linked issues. This is particularly true in industries with high turnover, as they often struggle to keep up with the demands of a highly competitive job market. Especially in these industries (hospitality, restaurant, and construction especially), employee retention and engagement strategies can be difficult to implement. But research shows that certain key metrics can be used to improve employee satisfaction and higher levels of employee retention. In this article, we’ll take a closer look at these metrics and explain how they can be used to create long-term employee engagement and satisfaction in any industry.

Metric #1: Positive Work Environment

When you cultivate a positive work environment, you intentionally create a workplace where employees feel valued, supported, and respected. It also involves setting clear expectations, providing feedback and recognition when employees go above and beyond, and offering rewards for good performance. All of these actions can help to foster an atmosphere of trust and respect amongst employees, which will in turn lead to increased levels of motivation and job satisfaction.

How to measure: Employee engagement surveys conducted on an annual basis can measure positive work environments and provide insights that drive continuous improvement.

Metric #2: Competitive Salaries and Benefits Packages

Competitive compensation is especially important in industries with high turnover rates as it helps to attract and retain the best talent available. Employers should ensure that salaries are competitive within the industry, taking into account location-specific costs of living, as well as offering attractive benefits packages such as health insurance or flexible working arrangements.

How to measure: An employee engagement survey can be tuned to measure satisfaction with pay and benefits. However, you should benchmark your organization against your top talent competition at least once a year.

Metric #3: Fostering Professional Growth Opportunities

Fostering growth opportunities could involve offering formal training programs or mentoring programs to help employees develop their skills and knowledge within their roles. Additionally, employers should look for ways to offer career advancement opportunities such as promotions or cross-functional projects which help to keep employees engaged with their work while also providing them with new challenges.

How to measure: Develop a career path for employees and communicate development resources at a regular cadence. Your employee engagement survey can tell you if employees feel they have enough professional growth opportunities in your organization.

Create an Engaging Culture

Engaging cultures encourage collaboration between team members both within departments and across different teams. This could involve implementing regular relationship-building opportunities. Such activities can help create a sense of unity amongst colleagues which will ultimately lead to increased job satisfaction and productivity levels. Culture goes far beyond team building, though, and completes the sentence, “The way we work around here is…” If the completion of that sentence does not align with your company’s mission and vision, you have some cultural work to do.

How to measure: Your employee engagement survey can be tuned to measure the expression of your culture again your organization’s mission, vision, and values. You can also measure if your culture is producing a climate that is anabolic (positive emotions) or catabolic (negative emotions).

Utilize Technology for Collaboration

Utilizing technology can enhance collaboration and communication between teams. Utilizing video conferencing software, project management tools such as Trello or Asana, or cloud-based file-sharing services such as Google Drive can all help streamline processes by making it easier for teams to collaborate on projects remotely without having face-to-face meetings every time there’s an issue that needs resolving.

How to measure: The employee engagement survey can measure comfort, discomfort, and utilization or non-utilization of software. However, you should also conduct a technology audit to assure adoption across purchased systems. A gap analysis between desired and actual usage can help

Create Retention Incentives

Companies should strive to reward long-term staff members who have consistently provided value by offering raises or bonuses whenever possible to show appreciation for their hard work over the years. Furthermore, employers should aim to provide flexible working arrangements including telecommuting options so that they can accommodate changing life circumstances among staff members whilst still ensuring that they remain productive throughout any period of transition in their personal lives such as parenthood or caregiving duties for elderly relatives, and so on.

How to measure: The impact of a retention incentive can only be measured with a pilot test. A qualified consultant can help you take the pre-metrics and post-metrics of the test as well as help you with a cost-benefit analysis of a retention incentive policy.

Conclusion

By considering these six key metrics when planning employee retention strategies in industries with high turnover rates, employers can set themselves up for success in driving employee satisfaction levels above average levels across the sector whilst also reducing turnover rates over time thus providing long-term stability within their organization’s workforce structure overall.

Additional Strategies include:

  1. Ensuring all staff members feel valued within the workplace environment
  2. Instituting positive reinforcement measures such as appreciation events or monetary rewards
  3. Encouraging collaboration at all levels
  4. Implementing effective communication tools
  5. Offering competitive wages and benefits
  6. Providing ongoing training & development opportunities
  7. Exploring alternative work arrangements

By doing this, employers will be able not only to retain current staff members but also to create highly satisfied ones too! If you need help with this, go to www.whatworksconsultants.com and schedule a FREE CONSULTATION. We would love to help you engage and satisfy your teams.

References

  1. Research on employee retention and satisfaction in high turnover industries – https://www.tandfonline.com/doi/full/10.1080/13678868.2018.1448295
  2. The importance of a positive work environment for employee satisfaction and retention – https://www.shrm.org/resourcesandtools/hr-topics/employee-relations/pages/the-importance-of-a-positive-work-environment.aspx
  3. The impact of competitive salaries and benefits on employee retention – https://hbr.org/2018/01/how-to-hold-on-to-your-high-performers
  4. The role of professional growth opportunities in employee retention – https://www.forbes.com/sites/alankohll/2019/04/22/the-key-to-employee-retention-is-professional-growth-opportunities/?sh=6d7a400770ba
  5. The importance of culture in employee engagement and satisfaction – https://www.gallup.com/workplace/236927/culture-important-employee-engagement.aspx
  6. Utilizing technology for collaboration and communication between teams – https://www.cio.com/article/2383123/collaboration-software/collaboration-
Preparing Your Organization for The Great Retirement: Optimizing Employee Retention Across Generations

The Great Retirement is here. As Baby Boomers retire in droves, HR executives are now tasked with navigating the complex task of optimizing employee retention across multiple generations. With the rise of the gig economy and an ever-changing job market, younger workers have new expectations when it comes to work styles and employer loyalty. This poses a challenge for organizations hoping to retain key talent, let alone attract new ones. In this blog post, we’ll explore how your organization can prepare for The Great Retirement by retaining your employees, taking a look at the work styles of different generations and how to best retain them.

What is The Great Retirement?

The Great Retirement is the phenomenon of Baby Boomers—the generation born between 1946 and 1964—who are aging out of the workforce. With this shift comes a change in the available talent pool, as well as an increase in competition to attract and retain top talent.

How Does It Impact Employee Retention?

This has made employee retention a top priority for HR executives, who must find ways to keep their best employees happy and engaged while meeting their organization’s needs. Organizations must find ways to maintain or improve employee satisfaction in the Boomer generation while keeping an eye on generation-centric retention strategies.

Engaging Baby Boomers

Baby Boomers are approaching retirement age but still have much to offer businesses that seek their wisdom and experience.

Organizations should focus on helping Boomers feel RESPECTED.

  • Flexibility by allowing them to choose shifts that fit into their lifestyle or offering part-time positions so they can transition out of full-time roles gradually if desired
  • Mentorship opportunities, since many enjoy teaching others what they know best—especially if it involves passing down knowledge from one generation of workers to another!

By leveraging this wealth of knowledge while showing appreciation for Baby Boomer contributions, organizations can keep these experienced professionals engaged even as they near retirement age.

Leveraging Gen X Talent

Gen Xers (born 1965-1980) tend to be more independent than other generations which can make them difficult to motivate at times. They also often feel overlooked in favor of younger generations who have more fresh ideas or up-to-date skillsets.

To better leverage Gen X talent, they must feel CHALLENGED.

  • Focus on providing autonomy while still offering support when needed
  • Recognize Gen Xers’ experience and achievements by giving them responsibility within your organization
  • Challenging them with exciting projects that will push them out of their comfort zone
  • Offering competitive salaries with incentives like bonus rewards

Retaining Millennial Employees

Millennials (born between 1981-1996) are now the largest generation in the workforce and have different expectations when it comes to employment than previous generations. They prioritize work-life balance, meaningful work, recognition from their employer, flexible working hours and other perks that go beyond just salary or benefits packages.

To effectively recruit and retain millennial employees, they must feel STIMULATED.

  • Focus on creating an engaging work environment
  • Provide opportunities for growth and development
  • Deliver feedback frequently and with empathy

Maintaining Successful Intergenerational Teamwork

Organizations today must be able to accommodate different generations working together in order to stay competitive in a changing job market—which is why technologies that enable collaboration across generational lines are key! Utilizing video conferencing tools or virtual training programs can help bridge gaps between workers who have different approaches due to varying levels of experience or technological prowess. Additionally, understanding generational differences is an important way of ensuring team members from all walks of life feel respected within your organization’s culture—and leveraging each group’s unique talents can create powerful results when managed correctly!

Need Help?

Need help understanding your intergenerational workforce? Our customized intergenerational engagement study might be the right fit for your organization. Go to www.whatworksconsultants.com and click on FREE CONSULTATION to learn more about how we can help your organization.

References

  1. The impact of Baby Boomer retirements on the workforce – https://www.pewresearch.org/fact-tank/2018/04/11/as-baby-boomers-head-into-retirement-americas-workforce-remains-dominated-by-millennials-and-gen-xers/
  2. The importance of employee retention across generations – https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/09/22/how-to-optimize-employee-retention-across-generations/?sh=5d0e9bde7f80
  3. Engaging Baby Boomers through flexibility and mentorship opportunities – https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/how-to-attract-and-retain-baby-boomer-workers.aspx
  4. Leveraging Gen X talent through autonomy, recognition, and exciting projects – https://hbr.org/2019/05/how-to-get-more-out-of-your-gen-x-employees
  5. Retaining Millennial employees through an engaging work environment, growth opportunities, and frequent feedback – https://www.gartner.com/smarterwithgartner/how-to-attract-and-retain-millennial-talent/
  6. The importance of intergenerational teamwork and collaboration in the workplace – https://hbr.org/sponsored/2019/10/generational-differences-in-the-workplace-how-to-leverage-strengths-and-overcome-challenges