What Matters Most to Your Employees?
Today, retention is at the top of most company leaders’ minds. While internal data-driven insights can be powerful tools, they can only tell you so much. It’s also crucial to learn about what genuinely matters most to your employees, and that isn’t always something internal data can reveal.
However, certain trends within the labor force can give you clues about what your employees are likely after. Here are some insights regarding what matters most to today’s professionals.
Competitive Pay and Benefits
While most professionals agree that money isn’t always the most critical factor, compensation will forever be part of the equation. At a minimum, your salaries and benefits packages need to align with industry norms in your area. Otherwise, you may have a steady outflow of employees who are able to find something more competitive elsewhere.
Development and Advancement Opportunities
Professionals today don’t just want to make use of their current skillset; they also want chances to grow and advance. Having career development benefits integrated into your workplace can therefore make your company a more attractive employer.
Ideally, you want a robust internal training program along with other development opportunities, like mentorship options, chances to attend conferences, and access to educational benefits. Additionally, developing clear pathways for advancement and ensuring managers empower their teams to pursue them is a must, showing workers what they can achieve if they keep growing.
Job Security and Transparency
During the pandemic, professionals quickly say the value of both job security and general transparency. Knowing the state of the company gives them peace of mind, even if the situation is challenging. It lets them know that their company believes they deserve to remain informed, and that can go a long way when it comes to building trust.
Similarly, seizing opportunities to enhance job security is increasingly essential, particularly if you have members of Generation Z on staff. Many professionals favor companies that did everything within their power to avoid layoffs or lessen the impact of downturns. Since that’s the case, providing job security can be the key to enhancing retention.
Meaningful, Fulfilling Work
Most professionals aren’t solely motivated by their paychecks. Instead, they want to know that their efforts make a difference beyond supporting the bottom line. Fortunately, offering this is simple if you use the right strategy.
Make sure to show employees how their duties tie into a broader company goal or support various customers. By doing so, even tedious tasks can become more satisfying, as workers can clearly see why they matter to the bigger picture.
Stronger Relationships with Higher Ups
Feeling seen and feeling valued can often go hand-in-hand. As a result, many professionals are seeking stronger relationships with leaders in their organization, including everyone from their direct supervisors to the CEO.
At a supervisory level, communicating with teams frequently and having one-on-one check-ins to discuss achievements or see if there’s a way management can improve their work-life can make a difference. For upper-level leaders, regular town halls can be a great starting point, as well as engaging with individual employees or small teams when the opportunity arises.
Ultimately, most professionals believe that what’s listed above matters. By working to offer as much of it as possible, you’ll have an easier time keeping your best and brightest on staff.
If you’d like to learn more about how you can boost retention, the team at Hamilton-Ryker wants to hear from you. Contact us today.