Company culture is a crucial asset to strengthen employee engagement and loyalty. While you might spend most of your time dealing with clients, seeking new investors, or planning for next projects, however you should not forget the most important thing as HR practitioner: harbouring employee’s commitment.
If you think that money will keep your employee engaged and happy, you are not necessarily right. A study conducted by Gallup found that 54 percent of disengaged employees are willing to leave the company for 20 percent raise or less in other companies. On the other hand, if the employees are engaged, involved, and committed in their jobs, the percentage falls to 37 percent.
At some point, money continues to remain a powerful weapon to secure employee’s interests. Yet, engagement and loyalty turn out to be more powerful draw to prevent voluntary turnover. Engaged employees work with enthusiasm and passion as they feel connected with the company’s long term goals.
On the contrary, disengaged employees tend be dissatisfied with their jobs and ready to leave anytime for a better offer. The case turns out to be worse if we are talking about millennials.
Dominating most of the talent pools today, recent study found that 71 percent of employees in the millennial generation (people born between 1980 and 1996), are actively disengaged at work.
Improving your company culture is vital for talent retention. To keep your employees happy is equivalent to keeping your clients happy, and thus increase productivity. Below are simple steps to create a better company culture.
See: Companies Need to Better Measure Long-Term Impact of Talent Acquisition: Survey Finds
When you decide to hire new talents, first thing you must do is to provide explanation about the company’s vision and mission. Communicate about the targets company needs to achieve and goals, as well as the value you want to achieve.
Please, thank you, sorry. These three words may sound simple, but they have a magical impact on your employees. Habituate yourself, and your employees, to say ‘please’ every time you need help from others, ‘thank you’ when you get help, and ‘sorry’ when you make mistakes. These actions always work to brighten one’s day and make your employees feel more appreciated.
Offer employees with training options to develop their careers and find promotions. Coaching, mentoring, seminar, networking, and job shadowing will improve their expertise in the job role and rejuvenate their commitment on job as well.
Working in a team gives better outcome than working alone. Having good team-work also increases productivity and employee morale. Draw employees from different departments into a social activity that requires them to work together. This will not only make things easy, but they will also learn to cooperate and work with one another.
Encourage your employees to practice healthy lifestyle while providing some benefits to support it. Health insurance can be counted as a small investment to reduce frequent sickness-related absences.
Sometimes, mere ‘congratulations!’ is not enough to express your appreciation. Recognise achievements of employees by offering them rewards. It does not have to be in cash or big things, simple card with sincere and thoughtful phrases will do. Such actions by the management will make employees feel good about themselves, inspire them to work more, and encourage others to do the same.
Nobody wants to get interfered and commented for every job they are working on. While you need to always keep an eye, give employees the space they need and authority to finish their tasks in their own way on time.
Who does not like to have an after-work party? Treating your employees for regular happy hours drink, once in a month for example, could be a good start to create colleague bonding outside the office.
Also read: 4 Key Trends on Employee Insights Expected to Dominate in 2017