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If you haven’t experienced it in your own company, perhaps you’ve heard news reports about the Great Resignation. Employees are leaving their jobs in droves; some for competitive companies and some for entirely new industries. How can we keep our top talent?
Gallup says that 52% of employees who have left their jobs say that something could have been done to prevent them from leaving. The Gallup survey suggests that managers who are empathetic and listen to the concerns of employees are dialed into their intent long before they actually leave the job. It’s widely known that employees don’t leave companies…they leave managers. Managers who find creative, personalized solutions and provide flexibility keep more employees. Managers can also regularly conduct “stay conversations” (the opposite of an Exit Interview) to understand what is meaningful to their employees.
Another Gallup study with Amazon found that 57% of U.S. workers would like to update their skills, and 48% of employees would change jobs in order to gain those skills. Clearly, managers make a difference. The Gallup/Amazon survey results suggest that great managers can reduce turnover more effectively than any other role in the organization.
One organizational psychologist suggests an alternate title to The Great Resignation: The Great Reevaluation. Inc. interviewed experts who find that quitting is contagious. It’s especially serious when a manager leaves and their team no longer feels connected to their job or may be resistant to the new leadership.
Employees who feel recognized and appreciated are more highly engaged in their work and with the company. A structured employee incentive, reward, and recognition program that provides a training component for managers is especially effective in retaining key talent. Most people are not born with managerial skills – they are learned. Even fewer are born with the skills to effectively recognize achievement. Employee engagement increases at companies that build a culture of recognition. Employee recognition and performance improvement programs are the first step in creating that culture.
Employee programs can ensure that individual goals are aligned with company goals. When clear expectations are set, employees understand what behavior or level of performance is necessary to achieve the goals, and management understands and provides the tools and resources the employee will need to complete their tasks.
It’s important for companies to partner with experienced professionals so that the programs are designed fairly and avoid the unintended consequences that can occur when a program is not designed properly.
Contact one of our Incentive Professionals today to prevent a Great Resignation or Reevaluation in your organization!