According to Investors in People’s annual Job Exodus survey, a significant 47% of UK workers are planning to change jobs in 2018. Factors that affect an employee’s decision to leave an organisation range from poor management to disengagement with the job they are required to perform.
Losing key members of staff is not only financially damaging but the value placed on their knowledge lost to a potential competitor is a hidden cost that few senior managers assess. Many of the world’s top companies realise employee wellbeing is of huge strategic importance and have taken steps to retain key talent through dedicated wellbeing programmes and fundamental changes to the way employee value is communicated. Here are five ways that we can interpret the data and keep valuable people.
Discuss a career path rather than a career ladder
Engagement relies on employees feeling that the work they do is valuable to the organisation so in periods where raises may not be possible, more important is the chance to demonstrate that employees have the ability to progress. This doesn’t necessarily need to be in an upward direction, lateral moves that focus on the strengths and interests of the individual can be far more beneficial in terms of perceived value.
Include everyone in decisions that may affect them
Share the challenges faced by the organisation and you’ll be surprised how creative a team can be. Feeling connected with the aims of the business and given the chance to offer suggestions is a great way to promote teamwork and engagement with the work.
Don’t hold back with praise
If you believe that salary alone is reward enough then you are likely to notice the results in your turnover statistics. Thanking people costs nothing, motivates people to work at their best and demonstrates the value placed on employees making a difference.
Be creative with rewards
Rewards do not necessarily need to be fiscal in nature and, in fact, are less motivating than a gift that is relevant to the individual; cinema tickets for the avid movie goer, retail tokens for the fashion conscious or even gym memberships speak more directly to staff members than a relatively higher sum of money.
Offer quality refreshment
Coffee culture is symbolised by the millennial generation and the provision is being judged, fairly or not, against the bar set by chains such as Starbucks, Costa and Café Nero when it comes to offering a premium coffee experience at work. Even if you simply see the canteen as a place for staff to relax, it is highly likely, particularly among millennials, that they see it as an informal addition to their workspace. Research has shown that the creation of a coffee culture can boost productivity and collaboration in the workplace. Couched in these terms, the provision of good coffee pays for itself many times over.
Esprada’s dedication to workplace wellbeing through superior refreshment has been a passion for many years. With a range of state of the art coffee machines that cater for organisations of all sizes, Esprada has established itself as a key partner to its clients in delivering high quality but affordable refreshment solutions.
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