2021 fueled the “Great Resignation,” which is now in full force as one in four workers are considering changing their jobs. Therefore, employers today need to understand how they can meet the employee’s expectations of what they want in a position to retain them, especially in an increasingly hybrid workforce-dominated environment.
As a result, in 2022, more employers will focus on employees’ health and mental well-being, transformational leadership, technology enhancements, employee engagement, and social and environmental concerns in the “Year of the Employee.” Marc Ramos, CMO at SplashBI, discusses how the importance of employee engagement will catch the attention of the corporate board room in 2022, thus putting pressure on CEOs & CHROs to effectively address recruitment and retention.
What Employees Want
It is no secret that employees are a company’s most valuable asset. So, especially within a hybrid workforce environment, it is increasingly important for managers to look at their employee experience beyond the traditional expectations. Driven by Covid-19, workforce expectations are increasing (and evolving), and employers should look to offer additional support to strike a balance between work and home life.
The need for transformative leadership will become increasingly crucial within workforces as employees develop more control over their work processes, reinvent workflows, and design systems that reflect how their team thinks and operates. Traditional leaders who consider being in the exact pre-Covid physical location the best strategy for developing their teams will be most at risk of losing their best people, thus incurring potentially unnecessary costs in employee turnover.
Employers who are in touch with their employees and offer this support will create trust and respect. Businesses must understand the direct relationship between employee experience and productivity. Currently, organizations cite employee satisfaction, talent retention, increased productivity, and higher revenue per employee as valuable factors driving their interest in improving employee experience. And this should be a top priority for companies as we move out of the pandemic.
Engagement through Technology
Modern workforce analytics management software and consumer-grade platforms are critical for employers to better support their employees’ engagement and satisfaction in the workplace.
Companies that are adopting hybrid work models, placing an increased emphasis on employee experiences, and prioritizing today’s multigenerational workforce must invest in these consumer-grade technologies. This means that data can be leveraged to make it easier to gather employee feedback frequently, identify where there is a potential problem, and assist managers by taking action in real-time.
Benefits of a workforce analytics system include supporting employees; for example, employers can monitor the number of hours worked, tasks performed, breaks taken, and holiday requests. This type of data can flag managers when employees are at risk of burning out or being overworked. Also, real-time employee data to create temperature and pulse checks can support employers and keep them informed on employee performance and wellness, especially while COVID-19 cases are still uncertain.
By leveraging modern communications systems, businesses can enable employee-employer interactions that use data to streamline, automate work and gather immediate feedback from employees within their roles. This allows business leaders to view and share relevant information that assists employees in their career development / upskilling and future success.
Finally, retention goals and strategies can be easily tracked with the proper leveraging of people analytics data. Which managers are doing a great job of developing and retaining top talent? What are they doing differently? Can their practices be introduced company-wide? These managers should also be utilized as mentors for other leaders. By using data for creating actionable retention plans, employers can put their best foot forward to achieve their retention goals.
2022 is the “year of the employee,” pushing companies to better understand how to prioritize their workforces, treat them kindly, and create better experiences in the workplace that increase their satisfaction.
These types of perks will highlight to workers that their employers can cater to their needs and/or preferences and that they trust their abilities outside of a traditional work environment. With appreciation and loyalty, the company will be able to reward and retain long-term employees.