Employees desire a corporate culture that instills a warm feeling of being part of a united team ... [+]
It is an interesting time in the United States. Inflation is raging, while the costs of everything are spiraling higher. There is fear over a recession. The war in Eastern Europe continues. Americans are experiencing social and political unrest. Despite these daunting challenges, the job market remains robust. The recent U.S. Job Openings and Labor Turnover Survey (JOLTS) shows that while job openings decreased, there are still 11.3 million positions available. People are confident they’ll secure new jobs, as 4.4 million Americans quit their jobs in April. There are roughly nearly two jobs for every unemployed person.
These numbers show that clearly there are jobs available. What’s not reported is that just because there are millions of jobs open doesn’t mean they are the right fit for you. Companies still have a hard time finding new people to fill empty seats. They are also hemorrhaging talent, as workers see a large number of openings and are willing to take their chances finding a new and better job.
Something Is Wrong
Once the Federal Reserve Bank starts raising interest rates to bring down inflation, the job market may contract. Until then, business leaders still need to cater to workers. They must attract, recruit and retain top talent. When over 4 million people leave their jobs, that is an indication that something is wrong.
Understandably, many quitters are seeking a better work-life balance, more compensation and the flexibility to decide how, when and where they will work. Armed with this knowledge, it's frustrating when managers don’t take action, as it's actually so easy to keep workers. Here is what they need to do.
Offer Choices
One of the lessons learned from the pandemic is that workers want a better life. To achieve this goal, everyone is different in their needs. Empathetic leaders need to offer an array of work choices.
Managers can provide remote, hybrid or full-time in-office options. They could also allow people to become digital nomads, working anywhere they so choose. If a person works in a high-cost city, such as San Francisco or New York, they should be allowed to relocate to lower-cost locations to save money while maintaining the same salary.
Overpay People
Let’s be honest. Very few people go to work out of love for what they do. The vast majority of folks work to earn a living and take care of their families. It's a trade-off. Employees offer their time, efforts and expertise in exchange for compensation.
Consequently, companies serious about taking care of their people have to pay them well. Instead of offering lowball offers or shortchanging them on bonuses and raises, smart leaders will actually overpay people to make them happy. Not only will they be happier, but they’ll also be motivated, engaged and feel appreciated.
The organizations that don’t pay fairly will suffer from attrition. The best and brightest will be recruited away since the job market is still strong.
Internal Growth Opportunities
Employees want to know that there is the potential to grow within the company. A person needs to believe that there is a path forward. It's depressing when you languish in the same job for years. If the job market is cold, a worker doesn’t have many options. As of now, there are sufficient jobs, such that if a person feels thwarted in their career development, they’ll join the Great Resignation, in pursuit of a company that values them and offers the pathway to move up the corporate ladder.
Closely related to internal growth, workers want to learn new skills. We are in a digital age. Those who don’t possess certain core tech and related knowledge will find themselves unprepared for the future of work. Forward-looking companies will gladly train, upskill, mentor, coach and teach skills to their workers to keep them on the cutting edge. If they don’t, they’ll lose talent to their competitors.
Psychological Safety
You won’t be happy if you need to worry about a mercurial micromanaging boss who will berate you publicly for making a minor mistake. A belligerent and volatile manager can wreak havoc on your mental health. It will impact your confidence and self-esteem. You’ll start second-guessing every move you make.
Working in an environment that offers psychological safety is vital to your career. The term refers to a management team that provides the autonomy for workers to discharge their responsibilities without fear of reprisals. If you fail to execute your tasks, there won’t be hell to pay when leaders subscribe to psychological safety. Instead of yelling and screaming, there would be a calm and rational conversation. The supervisor would offer constructive feedback and ways to succeed next time around.
Knowing that you can take chances, assume responsibilities and seek outsized challenges without worrying about being chastised or punished will instill you with confidence. You’ll perform better, as you are happy in the knowledge that your boss and management have your back and the best of intentions to see you succeed and thrive.
A Sense Of Belonging
All employees want to feel welcomed in the workplace. No one wants to work at a place that ostracizes or marginalizes people. Employees desire a corporate culture that instills a warm feeling of being part of a united team with a strong esprit de corps.
You'll feel motivated and engaged when you feel encouraged to do your best. When you're part of something larger than yourself, it will help you get through tough times. Being part of a close-knit team makes you more apt to stay with the company and do your best. The spirit of belongingness will help keep everyone energized, motivated, passionate and happy. When a person feels loved, appreciated and has a sense of belonging, there won’t be anything that can’t be overcome.
Feel The Love
Progressive and caring leaders practice gratitude and show their appreciation. For example, some thoughtful executives recommend social recognition, publicly acknowledging people in front of their peers for their contributions. They may even post the accomplishments of a worker who went above and beyond their duties on internal and outside social media.
A manager may pay for a pizza party for no reason other than showing affection for their team. There could be a private note or email sent to a worker specifically thanking them for a contribution they made. Supervisors may take their group out for lunch or dinner to show appreciation. With hybrid and remote models, management could sponsor offsite events that offer fun, relaxation, meeting new employees and reacquainting with old work companions that haven't been seen in person for over two years. These and other gestures create a welcoming environment in which everyone senses love and care.
Showing gratitude and appreciation has a ripple effect. It will make people nicer toward each other. It will also positively affect the employees’ lives outside of work. Returning home from the office, you’ll bring back the warm, happy feeling and share it with your family.
