At NimblyWise, we work with organizations to create stronger relationships with their employees every day. So, we know a thing or two about what can generate the engagement necessary to keep your top talent away from the competition. In part one of this blog series, we covered ideas like more comprehensive onboarding, developing soft skills, and providing greater guidance and coaching. Today, we’ll cover the next four things we think every organization should do to avoid turnover in their business—saving time, money, and creating an unbreakable company culture.
Let’s dive into part two…
#5. Organization-Wide Transparency
A Harvard Business Review study found that 70% of employees feel most engaged when they receive consistent updates from management about business strategy. When informed about the vision and direction of the company, their rejected decisions or ideas that aren’t accepted make more sense because they understand the big picture. Often, the disconnect between C-Suite management, mid-management, and entry-level employees causes unnecessary rifts that hurt engagement, simply because information wasn’t shared downwards. You don’t want your team to question “why” all the time. You want them to feel empowered and a part of something bigger, which transparency will promote!
#6. Socially Conscious Mission or Charitable Focus
Millennials are the largest demographic out there in the workforce today and more than ever, they’re searching for purpose at work. They want to be connected to what they’re doing every day and they want to create an impact! In fact, 75% of millennials would take a pay cut to work for a socially responsible company, 76% consider a company’s social and environmental missions before accepting a role, and 70% would factor in a sustainability plan into their decision to stay at a company long-term. Adding sustainability initiatives, supporting socially responsible practices, or giving back throughout the year are all ways to connect with your employees on a deeper level, creating long-term relationships.
#7. More Dynamic WorkflowsWhen young professionals enter the workplace, they’re not usually privy to the ins-and-outs of corporate culture. One major setback is understanding corporate hierarchy and where they fit in. Oftentimes, when setting out to show initiative only to realize something is not “allowed” at their level, they may be discouraged and not show that same initiative for fear of “doing it wrong” or not asking the right person in the right role. It also creates bottlenecks when certain individuals are the only ones who can do things, so operating with a more dynamic workflow with flexible roles makes employees feel safer to exercise creativity and be engaged at work.
#8. Flexible Schedules & Locations
The pandemic shifted the way many businesses operated, with many trying full-time work-from-home schedules for the very first time. In many cases, it was successful, as over 75% of employees said they’re actually more productive at home. Employees were able to enjoy less time commuting or wasting time in unnecessary meetings. Some used that extra time by putting those hours into meaningful projects, while others reprioritized their time for self-care and reinvigorating their lives with hobbies. Regardless, after this experience, many employees are prioritizing having the option and flexibility to work from wherever they want, at least part of the time. In fact, 80% of talent would choose a role that gave them more flexibility. Don’t forget this—trust your team and let them do their work, understanding they’re humans, too!
Prepare Your Business to Be Turnover Tsunami-Proof
An investment in your team is an investment in the longevity and profitability of your business. That’s not an exaggeration either, those businesses with the highest engagement levels exceed the financial performance of their peers by about 73% according to UPenn’s Wharton School of Business. So, invest in your team. Listen to their needs. And enlist help from professional development experts like NimblyWise if you’re ready to give your team opportunities to grow and engage.
Want to learn more about how NimblyWise programs can help your business increase engagement? Schedule a free 30-minute consultation today!
P.S. Missed Part One of this blog series? Check it out here!