Uncertain Times: What is the key to retaining talented employees?
17 Mar 2022
Adopting a culture of appreciation in the workplace could be crucial to finding and keeping talent during the Great Resignation.
Many are reevaluating their priorities as the pandemic wears on, driving the Great Resignation which started in 2021. According to the United States Bureau of Labor Statistics, 4 million Americans quit their jobs last July1. It seems that the trend picked up steam again in November, with a record number of 4.53 million Americans resigning. In a time when employees are pushing for a higher quality of life, the adoption of an “appreciation culture” in a workplace might be the key to retaining talent during this wave. Appreciating employees can mean catering to people of different religions and disabilities through facilities that fulfils their needs. Csuites is an example of a workplace that offers thoughtfully considered amenities, such as prayer rooms and nursing mothers’ rooms, to ensure an inclusive and equitable work environment.
Create a sense of belonging
According to a LinkedIn survey, 26% of its respondents would forgo a fancy title and 65% would rather put up with lower pay than work in a workplace with a bad environment2. According to a 2020 Glint report, employees are placing more emphasis on belonging than career opportunities since the pandemic3. One major factor impacting retention and performance is whether employees can be their true selves at work, without fear of being treated differently. When employees feel like they don’t belong, it affects their engagement levels and ability to focus. According to Glint's research of almost one million data points, the engagement rate of employees who feel a sense of belonging are multiplied by over six times as compared to those who don't. The desire for a sense of belonging is something that everyone can relate to. The secret is to cultivate an environment where employees feel comfortable and can form bonds with their co-workers. Connection is valued at Csuites, where 35% of the total floor area has been dedicated to communal spaces to encourage people to interact.
Build a culture of recognition
Many companies set aside an Employee Appreciation Day once a year to recognise employees for their work or hand out awards. However, building a culture of recognition goes beyond a single day. Managers should learn to embrace the concept of recognition more by regularly acknowledging their employees’ contributions. One example is adopting appreciation tools or programmes such as cheers-for-peers, a programme where employees can give public shout outs to a co-worker. Embrace the mindset of gratitude fitting of the future workplace. A simple way to start is by dropping the mask of formality— just saying ‘thank you’ to show your appreciation can be impactful.
Encouraging leaders to empower their employees
A research report by Achievers found that 90% of employees surveyed expressed that they are more likely to stay in a company that takes and acts on feedback. Yet when it came to taking feedback, 15% said that their company was “horrible” 5. So how can leaders empower their employees? For one, they can encourage employees to speak up if they disagree with policies or allow them to express interest in taking on certain projects. Leaders should leverage recognition as a daily tool for building a strong culture. An action that gets recognised, will get repeated.
Establish spaces for connections in the workplace
Employees are greatly affected by their daily relationships, hence it is important to create an environment for employees to have opportunities to strengthen their relationships at work. For starters, employers can organise workplace celebrations and establish spaces for team building activities and challenges that foster a sense of togetherness. Csuites offers the perfect mix of quiet zones for focused work and informal collaboration spaces, where members can have exclusive access to social events including interactive workshops, fireside chats and networking sessions. Topics like health and wellness, growth and innovation, diversity and inclusion, and sustainability help spark meaningful conversations and build camaraderie. For casual gatherings in a relaxed setting, employees can unwind over coffee at their in-house café or garden terrace.
Strive to create an inclusive environment
Inclusion occurs when different groups of people feel valued in the workplace, no matter their perspectives, ethnicity, or other needs. Csuites promotes inclusivity through amenities such as prayer rooms, nursing rooms, wheelchair-friendly corridors and bathrooms, and separate food preparation areas for employees with halal diets. Through the provision of these amenities, Csuites ensures that individuals with different needs feel a sense of inclusion and thus, a sense of belonging.
Retaining talent has been a concern for many employers even before the Great Resignation, and that comes as no surprise. With all that time and training invested, it’s only reasonable to hope that good employees stick around for a long time. By adopting an appreciation culture in your workplace, you can earn the trust of your employees by showing you care in various ways. Csuites’ inclusive amenities can help you take a step in the right direction, by facilitating different work styles and an environment where everyone is welcome.
1 Job Openings and Labor Turnover Summary (2022). United States Bureau of Labor Statistics. Retrieved from
https://www.bls.gov/news.release/jolts.nr0.htm
2 Nina McQueen. Workplace Culture Trends: The Key to Hiring (and Keeping) Top Talent in 2018 (2018) LinkedIn.com. Retrieved from
https://blog.linkedin.com/2018/june/26/workplace-culture-trends-the-key-to-hiring-and-keeping-top-talent
3 How employees are feeling right now | Data-driven insights during COVID-19 (2020) GlintInc.com. Retrieved from
https://www.glintinc.com/wp-content/uploads/2020/06/Glint-June-2020-Data-Insights-Report.pdf
4 Why Belonging Is Important at Work: Employee Engagement and Diversity (2020) GlintInc.com. Retrieved from
https://www.glintinc.com/blog/why-belonging-is-important-at-work-employee-engagement-and-diversity/
5 Achievers Survey Finds Up to 64% of Employees Surveyed May Leave Their Jobs in 2020 (2020) Achievers.com. Retrieved from
https://www.achievers.com/press/achievers-survey-finds-up-to-64-of-employees-surveyed-may-leave-their-jobs-in-2020/