2022, the year of the retention booster programme?
We’ve had a lot of talk in the news lately about another kind of booster programme, but with 40% of the workforce predicted to be looking for a new role this year, could you launch your own programme to boost retention?
It’s a phrase HRDs loathe, but the ‘new year, new job’ mentality is going to be felt among many as we step into 2022. Let’s face it, there’s a lot of people who’ve grown pretty fed up with restrictions and setbacks over the last two years and the problem of organisations not being quick to react with a fresh post-pandemic EVP has left a sour taste in the mouth for employees across many industries. Have you been progressive enough to minimise resignations this year? And do your workforce really believe in your higher purpose? It might be time to act now before it’s too late.
According to a survey by Ring Central and Ipsos, a third of millennials are prepared to look for another job if their employer says they must return to the office. Let’s remind ourselves of the value this generation brings. They’re the tech-savvy crowd, the ones who place the importance of culture and diversity above a high salary, and the ones who are the do-ers of your organisation and likely to be climbing through the ranks. Look at how many of this generation make up your workforce and ask yourself whether you’re prepared to risk losing top talent for bums on seats?
While the decision-makers of the group will statistically feel more isolated in a remote setting, it’s all about striking the right balance. If you haven’t adopted a hybrid working model already, now is the time to introduce it and make it known among your organisation through internal comms. It’s the easiest way to satisfy business needs while considering the varying comfort levels throughout your team.
Inclusivity is key
The hot topic for many HRDs in the last year has been around inclusion in the workplace, and one of the sure-fire ways to boost your retention in 2022 is if you’re actively valuing, accepting and celebrating all individuals across your organisation, without reservation.
To help you, start by regularly gathering feedback from your team and share these insights within your internal comms for total transparency. Encourage (Covid-secure) social events both in person and online, where everyone has the chance to interact. Provide a wellbeing day once a quarter so that everyone can feel supported. The options are endless, but it’s important to remind your people that everyone has a voice and feels heard by not just the senior leadership team but by their peers.
Encourage a healthy work/life balance
With burnout becoming a real problem in today’s working world – you can read more about our blog on that here – you don’t want to rock the boat by stifling your employees. Whether it’s as simple as a five-minute screen break, taking a lunch break instead of sitting eating at the desk, or an actual out-of-office-on holiday, your team members don’t just need their breaks for their own sanity, but let’s not forget they are legally entitled to them. Most employees will have a story of a bad boss who didn’t like it when they took annual leave — it’s time we moved away from those toxic cultural traits if we’re to gain the trust of our team and actively promote time to reset and recharge.
Support growth and create equity
While you can’t guarantee that every employee will remain loyal to your organisation forever, nurturing and fostering their career whilst they’re with you is only going to be of benefit to you. No business out there is happy settling — it’s all about growth, improvement, the next goal. And your people are going to be with you throughout that journey.
How can you equip them with the tools they need to succeed? What additional training and support can you provide that other employers can’t? It’s important to reinforce to your people that additional training isn’t mandatory — no one likes to feel forced. But deliver this messaging in a way that sells the opportunity of promotions, perhaps increased pay or additional perks, and how it would look on a CV, and you’ll find a swifter uptake.
When offering these tools, however, it’s important to consider equity across the workforce. Equity recognises that each individual has different circumstances and backgrounds, and allocates the same resources and opportunities that are needed to reach an equal outcome. Consider providing mentoring programmes or training for certain groups, or access to subsidised learning and development opportunities or qualifications for those from underprivileged backgrounds who may not have had access to education opportunities previously. Even starting company forums could help to give a voice to those who may otherwise be missed. It’s key to ensure your team members from all backgrounds are given the same opportunities to progress.
Employees like to feel they’re being invested in, developed and nurtured, and not only will this be a handy arrow in your quiver when it comes to retention, but the upskilling of your team is going to boost your business in the long run too.
We’ve said it before, but there is a war for talent and this is only going to increase if the figures for resignations continues to soar. Talent retention should be one of your top priorities this year and we’ll bet your culture will play a significant role in whether you survive or thrive in 2022. Think we’re wrong? Question us on LinkedIn.