The latest unemployment numbers show what many companies should be aware of. There’s a growing talent shortage as enterprises look for the best and brightest candidates to help them launch new initiatives. If you fail to take concrete steps toward offering your employees a good experience, professional development, and rewards, you risk losing them.
Earlier this year, a Ceridian post on Human Resources Today reported that the vast majority of HR pros know positive employee experiences equate to good organizational success. The employee experience at any company ranges from the physical office space to the interaction with managers. In the What Your Salespeople are Afraid to Tell You white paper recently published by SalesFuel, 69% of surveyed sales reps say they’re not sure the culture or work environment is appropriate for them. And, 39% have left positions in the past because they had problems with their managers.
You can improve this situation by enabling your managers to play a broader role with their team members. In the past, managers were expected to touch base with group members when it was review time. That protocol won’t cut it anymore, especially with younger employees. Encourage your managers to understand the unique aspects of each employee, work with them to set goals, and then coach them toward reaching these goals. Some millennial employees may have accepted that they won’t get the corner office this year, but they do want to see a path for advancement. Make sure your managers talk with their team members regularly about their careers and offer chances for professional development.
Employees who achieve the goals they set should be engaged in the work for their own sense of personal achievement. If you want them to strengthen their sense of loyalty to the organization, you need to recognize them. I’m not talking about the annual holiday bonus program here. Think about what the employee values personally and tie the reward to that. A busy parent might appreciate a few afternoons off to attend his kids’ games. An employee who volunteers at a nonprofit organization might value a company donation. Other employees might enjoy public recognition, applause at a company meeting and a gift card to a favorite restaurant.
The bottom line is when your employees believe you care about them and their careers, they’ll reward you with hard work and loyalty.