Where to begin with retaining employees? Listen.
We all know the “Great Resignation” is in full swing with no let up in the foreseeable future. But instead of focusing on the obvious, let’s see how we can help you win on the most important aspect of today’s work place: employee retention.
Like with any effective business strategy, employee retention doesn’t just happen in a vacuum. You need to ensure your talent strategy actively supports your business goals.
What does that look like?
According to the extensive research from Predictive Index, there are companies that have figured out a successful plan to attack this issue head on and are realizing great gains compared to other peer companies. The main comparison point: companies that avoided the average churn rate of 20%, versus those that did not.
The results show clearly investing in retention works. But it starts with listening to your people—and diagnosing disengagement at its source.
What are these executives hearing from their employees? Three key areas came through loud and clear:
Help employees find purpose in their work (47%)
Create opportunities for career growth (47%)
Ensure an inclusive space (41%)
The concept of “finding purpose” was not limited to just rank-and-file employees, but also key executives. The pandemic ultimately made all of us re-think our lives—whether work-related or personal goals. Work is still important to people, but the motivating factors have shifted. Although a paycheck is still vital, today’s workforce has placed a high value on benefits, balance and respect.
For employers, this is an opportunity to nurture community by instilling a culture of trust and psychological safety. Let us know what you think. Please share some of the ideas you’re implementing to boost employee retention. Of course, we’re always ready to talk with you. Contact us for a free 15-minute phone/zoom consultation and one free Predictive Index Analysis.
Trends AMP is Following
Stories AMP is Following
Re-Thinking Company Culture
Surviving The Great Resignation Through Leadership
The Talent Migration
Why 10 Professionals in Houston Quit Their Jobs
Fun Fact In honor of the late great Betty White, we thought this factoid would be of interest. The
Golden Girls was supposed to have a different theme song Instead of Andrew Gold’s iconic “Thank You for Being a Friend,” the show’s producers wanted to use Bette Midler’s song “Friends,” according to Jim Colucci, author of the book Golden Girls Forever: An Unauthorized Look Behind the Lanai. But the rights to the Divine Miss M’s song were too expensive, and the rest is sitcom history.