In 2023, Gallup reported that 1 in 2 people, roughly 48% of all U.S. employees, indicated they were watching for or actively seeking a new job. That means that 1 in 2 employees are open to looking for a new place to work. This is a huge challenge for employers if you’re an organization with high turnover, but it can be an incredible advantage if your organization is a great place to work. So, the question is – what creates an organization that’s full of happy people who love to work there?
We know that every industry values something different, but I’m going to propose some core elements for an employee experience, no matter where you work. The same Gallup study mentioned earlier stated that the “top reason people voluntarily left their job was pay and benefits, the second was advancement, development, career opportunities, and the third was the relationship with their supervisor or manager.” In his book The Truth About Employee Engagement, Patrick Lencioni outlines three reasons why people are miserable and leave their jobs, which I think directly correlates with the top three reasons outlined by Gallup in their recent study—the lack of measurement, anonymity, and irrelevance.
I believe the opposite of these are three reasons people stay in their role and why someone would be itching to work at your organization. Employees will stay if they are growing, known, and recognized. So, let’s dive in!
Let’s start with employee growth.
A problem that you might face is that employees aren’t satisfied because they feel they’ve reached a point where they can’t grow, move, or advance. Some employees are willing to take the initiative and share how they want to grow, while others might work hard and wait for someone to acknowledge their efforts and present a fitting opportunity. Either way, having an identified growth plan for employees is key to providing next-step growth opportunities for employees. Giving focused time and attention to growth plans that cater to one’s unique gifts and talents is key to attracting and retaining top talent.
But, what else could this look like? Growth doesn’t always have to mean organizational chart hierarchy, as some organizations don’t always have much depth in their organizational charts. Growth can also be skills development. For example, some companies help pay for professional development, like StrengthFinders and local leadership development courses, while others, like Spotify, allow for a percentage of an employee’s paid time to be spent on “passion projects.” This time allows employees to be creative and encourages team members to bring new ideas to the table for the organization’s betterment. How cool is that?
What about an employee who feels known?
Maybe you have employees who aren’t satisfied because they don’t feel known at work personally or professionally. In 2022, Gallup reported, “Fewer than one in four U.S. employees feel strongly that their organization cares about their well-being — the lowest percentage in nearly a decade.” Well-being concerns are different for everyone but often encompass people’s occupational, financial, social, or mental well-being.
As an employee, you might think:
- I was a major contributor to this project. Does my boss know?
- I have this new idea we could try! I value my ideas being heard.
- My workload is too much—I’m exhausted!
And you hope you can safely share these thoughts and know you’ll be met with care by a peer, leader, or supervisor.
Or, it might be a bit more personal. Do your peers or team know:
- That you’re caring for an aging parent?
- You are having a hard time finding childcare?
- What your hobbies are?
- When your birthday or work anniversary is?
Being known at work matters, and having the ability to connect on a personal and professional level is key. One top suggestion for retaining employees from Gallup is “to have a meaningful conversation once per week. Whether you’re working fully remote, hybrid, or fully in-person, creating the time and space to connect with peers can be some of the meaningful work in your week.”
Lastly, let’s talk about the employee who is recognized.
Employees aren’t always satisfied because they don’t know if they’re doing a good job, if the work they’re doing is valued, or how the work they’re doing is contributing to the greater cause. In the At The Table Podcast, Patrick Lencioni shares, “Not telling someone that they’re doing great at their job is like pulling money out of your pocket and throwing it into a fire. Verbal recognition is a form of pay. We wouldn’t throw money into a fire; why would we avoid paying respect to good work through recognition?”
There are many ways for managers, employees, and peers to recognize and celebrate the work happening in the organization. You can create regular time for anyone to celebrate anyone else publicly in a weekly team meeting or incorporate recognition through employee recognition and reward platforms like Nectar and Awardco. Recognizing an individual specifically for the work they are doing means you took the time to notice what they were doing and also took the time to say something.
At The Accel Group and Accel Wealth Management, we value employee engagement! Read more about our culture. To grow, to be known, and to be recognized are key to the employee experience and will be the best recipe for your organization moving forward.