Employees want to feel valued and appreciated. They want to know that their work is meaningful and that they both have, and contribute value to, the company. They also want to be compensated fairly, and to have opportunities for growth and development.
However, employers are often more focused on the bottom line than on their employees’ needs. They may be unwilling to invest in their employees’ development, may be unlikely to grant promotions and bonuses, and may expect work and hours that are outside the scope of the employee’s job description and compensation. As a result, employees feel undervalued and unappreciated.
This disconnect between what employees want and what employers are willing to give them is resulting in “quiet quitting” — a phenomenon characterized by setting hard work-life boundaries, or doing only what is in their job description and nothing more. Lashing out online, giving notice, or staying and causing unrest among other employees are all detrimental side effects of this disconnect.
The Employee Value Proposition
If your company is struggling to retain its employees, it may be time to rethink your approach and create an employee value proposition. An EVP is an employee-centered strategic framework that lays out the unique benefits of your company, and answers the essential question “what’s in it for me?” An EVP provides both candidates and current employees with a way of understanding their position within the larger organizational framework. It includes your company’s mission and values, what an employee will get from the company in terms of benefits and perks, and also what an employee needs to contribute to the company. Creating a strong and accurate EVP requires soliciting and utilizing honest employee feedback to determine your company’s areas of weakness and how to work on them.
Investing in your employees’ development, and valuing their contributions, will go a long way towards keeping them happy and engaged.
Otherwise, you may find yourself with a lot of empty desks in 2023.
Engage with Staff
Since the beginning of the pandemic, we’ve seen a lot of employers who have stayed the same and feel that doing the same thing year after year will achieve the same success. But their employees are seeking new ways of doing things – ways that are more engaging, exciting, and responsive to their own needs.
Employers need to start paying attention to what their employees are saying and doing. They need to be proactive in seeking out feedback and responding to it in a meaningful way. Only then will they be able to keep their people engaged and excited about staying with the company.
If you’re an employer, here are some things you can do to stay connected with your employees:
Conduct regular “stay interviews”
Arrange meetings with your employees to discuss what they like about working at your company, and what else they need to enhance their experience. Specifically identifying these benefits will allow you to highlight and expand what is already working. It might be helpful to start with those employees who are the most engaged.
Hold focus groups on a regular basis.
Focus groups are a great way to get honest feedback from your employees about what is, and is not, working. Perhaps you view a feature as a major benefit, but your employees don’t even know it exists (or even care). Focus groups are a way to drill down on what is missing, and what you can add or highlight.
Learn and create a culture around what really matters to your employees.
Create a culture that encourages informal conversations and honest feedback from your employees. Employees want to feel valued and seen, and a major way of achieving that is if you are receptive to constructive feedback about job roles and benefits.
Seek out and respond to employee feedback in a timely manner.
Once you receive feedback, be sure to implement an action plan and make changes. A common complaint from employees is that their employers receive feedback and then nothing ever happens. When developing an action plan, involve your employees so they feel that their input is valued, they are kept in the loop, and aware of changes coming.
Encourage affinity groups within your company.
Create opportunities for employees across your company to form connections through identity and interests. Bonding over shared experiences and interests can contribute to stronger working relationships, and give your employees a sense of purpose and home within your company. This can also be a great way to help employees sharpen their skills and become more valuable to the organization.
Get HR Help (if you need it)
By taking these steps, you will be well on your way to keeping your employees happy and engaged. If you don’t, you risk losing them to another company that’s a better fit for their needs.
If you feel like this is all too overwhelming and you don’t know where to begin, fear not — we are here to help! Flynn Barrett Consulting specializes in Employee Value Propositions and will work with your company to increase employee retention and satisfaction. Contact us today!