Tens of millions of Americans quit their jobs during the Great Resignation. These employee retention tips will help keep your team together.
The pandemic caused what’s being called the “Great Resignation”— a mass voluntary exodus of American employees from their jobs. An average of 4 million workers left their jobs each month in 2021, a new record, and a total of 47.8 million employees quit throughout the year.
Workers are creating a new set of expectations from their employers. Many are seeking better benefits and pay in addition to more flexible work options.
As a company, it’s hard to know how to respond. Losing people impacts productivity and morale. But, with the right approach to employee retention, you can improve company culture and reduce turnover. Here are some key considerations for employers during the Great Resignation.
What the Great Resignation means for businesses
Across the nation, people are reconsidering their career paths and their worth. Many people who were staying in jobs they didn’t much care for finally decided to take the leap for a better situation. Or, they are going back to school to do something different.
Even while employees are reevaluating what they want and taking steps to better their futures, the Great Resignation leaves employers in a tough spot. Lots of open jobs and exiting employees means that their bottom line can suffer. It also means people will start to lose morale, which hurts company culture and motivation.
It’s important for companies to also do some self-evaluating during this tumultuous period. It’s time to reassess current approaches to employee engagement and workplace culture. Employees are more likely to stay at a company that shows them how much they’re valued and appreciated and addresses their concerns when they’re taking a second look at their position and career path.
Next, we’ll talk about ways to do just that.
Employee retention tips to boost company culture
Satisfied employees will be more productive and motivated. And employee satisfaction goes beyond salary. It takes a lot of effort from the employer to prioritize engagement and company culture. Here are a few tips to boost employee retention and reduce turnover:
1. Gather employee feedback
An effective way to show employees you care is to ask them questions, check in regularly, and actually listen to them. Incorporate new methods for gathering feedback. Hold one-on-one review sessions or send out surveys. Ask for input when business decisions are being made that will impact employees. Show them that you’re listening by addressing their concerns, even if you can’t solve them right away. Sometimes they just need to know that what they’re saying matters and you hear them.
Appreciation and recognition matter a lot for employee retention. One study found that almost half of American employees have left a job because they felt unappreciated, and 65% said they would work harder if they felt their contributions mattered to management.
It’s thus crucial to start recognizing workers when they do a great job (and also when things are just running smoothly). Employees keep operations moving, after all, so schedule a special event or prize to give people just to show that you appreciate what they’re doing. Find out who was behind a project win or team success to congratulate and thank them. Never miss an opportunity to show gratitude.
3. Use gamificationA proven way to help workers feel appreciated and to recognize and motivate them is to incorporate gamification. Employees compete with one another to hit targets, and the winner gets a prize. Or, people build up points on their own for hitting certain milestones. For example, maybe if a team gets a certain number of sales in one week, they all get an afternoon off work.
Gamification is also a great way to improve company culture. People will feel a sense of camaraderie with their coworkers and teammates, and games create lots of opportunities for friendly competition. People will feel excited to come to work to take part in these activities.
4. Offer opportunities to grow
A big reason that many employees quit their jobs is they don’t see a way to move up. Maybe they’ve been waiting for a promotion that’s never arrived or there aren’t any higher positions they could have in the near future. It thus helps if you can show employees that they have a growth path in the company.
Meet with them to see what their goals are for the next few years. Talk to them about ways they can move up in the company, whether it’s taking on a new role down the road or taking charge of a new project. People want to feel challenged, so make sure you’re offering ways for them to keep improving and meeting their career goals.
5. Emphasize and refresh company values
Another part of reevaluating the company is taking a new look at company values and purpose. What do you believe in? These values should be made clear to employees, so they know the “why” behind the organization. Today’s employees want to work for a company whose mission they can get behind. Make sure you emphasize just how important these values are and how they extend across the entire business.
Aligning everyone behind company values helps people feel connected to their work and to each other.
Revamp employee retention tactics with Crewhu
Improving employee retention starts with fostering a better company culture and reevaluating how you prioritize workers. When you’re ready to focus on rewards and recognition for your teams, get started with Crewhu. Our platform combines customer service management with employee recognition, and it’s easier than ever to incorporate gamification and collect employee feedback.
Download our guide, The 3 Cornerstones of Employee Rewards, to learn how to keep your teams engaged and productive, even when they’re working remotely. Or, contact Crewhu now to learn more or to book a demo.
