By Svenja de Vos, Leaseweb Global
For the past 20 months or so, the world has adapted to the constant changes COVID-19 has brought our way. Throughout 2021, we saw business leaders continue to operate remotely or begin to adopt a hybrid approach to working. In 2022, business leaders are going to face a split: continue working remotely, return to the office or fully embrace the hybrid approach. The decision might influence which talent is attracted to your company and if you can retain current employees.
Complicating talent matters even more for company leaders is the idea of “The Great Resignation.” According to the US Bureau of Labor Statistics, 4 million Americans quit their jobs in July of this year alone, and there was a record-breaking 10.9 million open jobs at the end of July.
The tech sector is feeling the effects of these trends particularly hard. According to a recent survey, around 72 percent of tech workers in the U.S. are thinking about leaving their current employer in the next year.
With the war on talent, organizational leaders have to do more than just throw money at qualified candidates and truly evaluate their business practices. As a company leader, the key to attracting and retaining top talent is to show that you truly care about your people. Here are a few ways company leaders can do so throughout the year:
Check In On Your Employees For More Than Just Work-Related Items
According to a survey from 15Five, only 41% of managers check in on the well-being of their employees regularly. Why should this matter? With the increasing talent war, it is critical that the whole employee, who they are both inside and outside the workplace, becomes part of the organizational ecosystem.
Regardless of whether or not staff is fully remote, in the office, or doing a mix of both, managers must check in on employees every once in a while on non-work-related items. Doing so can improve the relationship between supervisors and team members and make it more likely that an individual will come to you with issues or concerns before they become a bigger problem.
Get To Know Employee Strengths
At the end of the day, company leaders should have an innate desire for employees to succeed. To do this properly, managers should play off an employee’s strengths — doing so can pay off.
According to a recent survey, 71% of employees who believed management was naming their strengths and actively incorporating them into assignments felt engaged and energized by their work. Having an individual be actively involved in day-to-day tasks can drive their performance levels through the roof and ultimately increase an organization’s ROI on the employee.
Have An Effective Performance Management Strategy In Place
According to an HR Daily Advisor survey, companies who implement regular employee feedback have turnover rates that are 14.9% lower than for employees who receive no feedback. These discussions create an opportunity for both supervisors to clearly state objectives and for employees to raise any issues.
Survey your employees via an email form or just through regular conversation and find out how often they would like to meet with you to discuss performance. Whether it be every quarter, every six months, or every year, performance reviews can provide the below benefits and more:
- Highlight training gaps
- Boost employee morale
- Identify when it is time for an employee to be promoted
- Establishes individual autonomy
Incorporate Ways For Everyone To Have Fun
Every company should want employees to enjoy coming to work every day and to have regular socials and other activities to make that happen. However, company leaders need to take tactical steps to make that happen.
Regardless of if teams are still remote or not, it’s still important to have regular initiatives to make work fun. Consider appointing a committee of a few people to put together several virtual or in-person events and outings throughout the year. Ideas include virtual or in-person book clubs, workouts, coffees, etc.
At the end of the day, it should come down to what is best for employee work-life balance. Company leaders will need to examine work patterns over the past year and a half to determine the path forward. Look at activities that have kept team members engaged, what are individuals happy about and what historically has been shown to keep productivity up. Using that information, adjust your plans for the upcoming year accordingly. This will be key to retaining and attracting top talent moving forward.
About The Author
Svenja de Vos is CTO at Leaseweb Global.