Employees’ expectations and priorities have changed drastically following the pandemic. 2021 saw a big upsurge in resignations and the year has been named aptly the year of the “Great Resignation” and one in four workers are now considering changing their jobs. Employee resignations have therefore become one of the biggest concerns to employers today. They need to understand how they can meet employees’ expectations of what they want in a job in order to retain them, especially in an increasingly hybrid workforce-dominated environment.
As a result, in 2022, we’ll see more employers focus on areas such as employees’ health and mental well-being, transformational leadership, technology enhancements, employee engagement, and social and environmental concerns in the “Year of the Employee.” Marc Ramos, CMO at SplashBI, discusses how the importance of employee engagement will catch the attention of the corporate board room in 2022, thus putting pressure on CEOs & CHROs to effectively address recruitment and retention.
What Employees Want
It is no secret that employees are a company’s most valuable asset, and so, especially within a hybrid workforce environment, it is increasingly important for managers to look at their employee experience beyond the traditional expectations. Driven by Covid-19, workforce expectations are increasing (and evolving), and employers should look to offer additional support to strike the balance between work and home life.
The need for transformative leadership will become increasingly key within workforces as employees develop more control over their work processes, reinvent workflows, and design systems that reflect the way their team thinks and operates. Traditional leaders who consider being in the same pre-Covid physical location to be the best strategy for developing their teams will be most at risk of losing their best people, thus incurring potentially unnecessary costs in employee turnover.
Employers who are in touch with their employees and offer this support will further create trust and respect. It is critical for businesses to understand the direct relationship between employee experience and productivity. At the moment, organisations cite employee satisfaction, talent retention, increased productivity, and higher revenue per employee as valuable factors driving their interest in increasing employee experience. And this should be a top priority for companies as we move out of the pandemic.
Engagement through Technology
Modern workforce analytics management software and consumer-grade platforms are critical for employers to better support their employees’ engagement and satisfaction in the workplace.
Companies that are adopting hybrid work models, placing an increased emphasis on employee experiences, and prioritising today’s multigenerational workforce must invest in these consumer-grade technologies. This means that data can be leveraged in this way to make it easier to gather employee feedback frequently, identify where there is a potential problem, and assist managers by taking action in real-time.
Benefits of a workforce analytics system include supporting employees, for example, employers can monitor the number of hours worked, tasks performed, breaks taken, and holiday requests. This type of data can flag to managers when employees are at risk of burning out or being overworked. Also, using real-time employee data to create temperature and pulse checks can support employers and keep them informed on employee performance and wellness – especially while COVID-19 cases are still uncertain at present.
By leveraging modern communications systems, businesses can enable employee-employer interactions that use data to streamline, automate work and gather immediate feedback from employees within the context of their roles. This provides business leaders the opportunity to view and share relevant information which assists employees in their career development / upskilling and future success.
Finally, retention goals and retention strategies can be easily tracked with the proper leveraging of people analytics data. Which managers are doing a great job of developing and retaining top talent? What are they doing differently? Can their practices be introduced company-wide? These managers should also be utilised as mentors for other leaders. By utilising data for creating actionable retention plans, employers can put their best foot forward to achieve their retention goals.
Conclusion
2022 is the “year of the employee”, pushing companies to better understand how to prioritise their workforces, treat them kindly, and create better experiences in the workplace that increase their satisfaction.
These types of perks will highlight to workers that their employers can cater to their needs and/or preferences and that they trust their abilities outside of a traditional work environment. With appreciation and loyalty, the company will be able to reward and retain long-term employees.
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