Three reasons why employees stay with a company!
I have a question for you. Have you considered leaving your current job or actively looking for a new opportunity? An interesting fact is that January is the month most people go to join another company.
Today, There is much discussion about why employees are “Quietly Quitting.” It started with the great resignation during Covid. Let’s face it someone on your staff could be looking for their next opportunity.
What Is Quiet Quitting?
Quiet quitting refers to doing the minimum requirements of one’s job and putting in no more time, effort, or enthusiasm than is necessary. No more staying late, showing up early, or attending non-mandatory meetings. The employee doesn’t leave their position and continues to collect a salary.
In the early 2020s, primarily driven by social media, quiet quitting emerged as a much-publicized trend in the United States and elsewhere. A 2022 Gallup survey suggested that at least half of the U.S. workforce consists of quiet quitters.
Beyond the workplace, “quiet quitting” is now applied to nonwork aspects of people’s lives, such as marriages and relationships.
Having reliable and motivated employees is a big part of our business success; as a leader in your company, it’s our job to recruit, retain and coach our employees. I thought I would do some research for us on why our employees stay. What keeps them wanting to come to work every day?
Three reasons people stay loyal to an employer for the long term?
Job Satisfaction & Engagement
Employees are more likely to stay with a company if they believe in their work and feel it is recognized and appreciated. Any job can provide a salary, but an employee who finds a sense of purpose in their work will show up each day thinking about more than simply a paycheck. Acknowledging your employees’ efforts will help them believe their work is valuable. Create an environment of continued progress and ask for feedback on creating better processes and inviting different points of view.
Long-term employees respect and appreciate their coworkers, genuinely care about the company, and believe they are part of something special. A culture of respect and accountability thrives when employees see themselves as a part of a team working together towards a common goal.
Tenure employees instill morale in newcomers or those considering working for or buying from your company.
Great Benefits & Support
Employees commit to a company when they feel treated fairly, trust their business leaders, and have a mentor who encourages them. It allows people to feel supported in their professional pursuits and secure enough to plan a future that includes a career with the company.
Invest in a range of opportunities for skill development and provide greater access to mentoring and coaching options. Workers are looking to their employers for opportunities to broaden their skills and grow their careers.
What can you do to retain an employee? Think like your employee?
Not all employees want the same thing. Have regular check-ins or stay interviews with employees. Stay interviews are an opportunity to learn how to engage your employees better, so they want to stay with your company.
Rather than just interviewing employees on their way out in an exit interview, we need to have stay conversations with employees to receive feedback on the workplace and what would motivate them to stay. Stay discussions help employers learn about an employee’s career aspirations, receive feedback on what makes them want to stay with the company, and understand what support and resources they need to succeed.
Yes, we need to understand the KPIs of our business. But we also need to understand the KPIs of our employees. KPI is essential to measuring the organization’s or individuals’ growth. But it’s imperative to maintain the balance between expectations vs. reality, where people feel inspired, informed, interested, and involved.
KPI = Key Performance Indicators
New leadership KPI
Keep people interested.
Keep people informed.
Keep people involved.
Keep people inspired.
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*Research on quietly quitting provided by Greg Daugherty and fact-checked by Suzanne Kvilhaug, November 2, 2022.