Do you know how to motivate employees? According to a recent report by Deloitte, employee engagement remains one of the most urgent issues that companies need to tackle, following only leadership in their list of pressing human capital trends. An engaged workforce can drastically impact a business's bottom line, so the time is now for companies to get their heads in the game.
Retention and engagement
The Deloitte Global Human Capital Trends study surveyed 2,500 organizations in 90 countries to identify the leading concerns and struggles in the modern workplace. Based on data from the study, the group presented a Relative Urgency of Human Capital Trends dashboard, which illustrated the priority given to leading management factors. As depicted by the visual, 26 percent of respondents revealed that employee retention and engagement were "urgent" concerns, with 79 percent believing they have significant problems in this area.
Reflecting on the study, Forbes magazine recognized that this issue is so pressing for a number of reasons:
- Millennials: This group is taking a stronger hold of the workplace, and it has different expectations and demands than previous generations. Millennials tend to want more creative jobs with flexible arrangements.
- Emphasis on experience, not careers: The total working experience is important to today's employees, whereas workers used to be more focused on advancing along a career path.
- Turnover: Studies have shown that over a quarter of U.S. workers are planning to change jobs this year. Hiring and training replacements can be expensive for organizations.
- Overworked employees: Two-thirds of today's workers feel overwhelmed, with work-life balances deteriorating as a result. People also work longer hours than they'd like, and the majority feel too distracted.
So you care about employee engagement... Now what?
The Deloitte study pointed to the urgency with which many business leaders view retention and engagement, but few know how to approach this issue strategically, Forbes explained. The source advised that new tools, such as employee engagement software, can help companies address their culture more efficiently. Additionally, these technologies make it easier for managers to track employee satisfaction and performance.
Putting the right tools in place
One way to inspire team members to be more invested and passionate about their jobs is to offer an avenue for them to share their ideas and collaborate with colleagues on projects. Not only does this foster a sense of community, it shows employees that their contributions are appreciated and gives them an outlet to think creatively. An attractive, user-friendly interface for such programs can also contribute to the overall workplace atmosphere and experience.
Furthermore, furnishing workers with the right tools may help to relieve some of the stress and tension that leads them to feel overwhelmed and overworked. The more efficiently people can communicate with their teammates and find the resources they need, the less stressed out they'll be as they approach problems and complete their tasks.
Employee engagement and retention are too important to disregard. The study highlighted the urgency of the situation: What are you going to do about it?