The past year and a half has presented a range of taxing circumstances prompting us to ask: how do we move forward?
Many professionals have started to reevaluate their work environment, causing what experts have deemed “The Great Resignation.” In tandem with a stressful pandemic, this unprecedented wave of resignations is causing many executives to rethink the employee experience.
Increasing employee benefits and perks are efforts in the right direction to hold onto talent, but turning resignation into retention may need a different approach.
Our forthcoming white paper, Exploring the “Human” in Human Capital: How to Encourage Employees to Buy-In Instead of Bowing Out, reframes employee retention efforts as an opportunity to optimize company culture and increase workplace satisfaction. The human needs of the employee go beyond financial compensation, and they provide an under-the-surface approach to how an employee interacts with their organization.
Employees have three human needs:
- to feel liked,
- and independent at their jobs.
A company culture that encourages the human needs of the employee will keep talent engaged and committed to the success of your organization.
1. Likeable: the need to be seen as someone with whom others want to associate and interact
Everyone wants to feel confident being themselves! When employees feel appreciated and accepted, they will contribute to creating a company culture rich in communication and teamwork. An employee who feels comfortable being themselves will have an easier time establishing trust, an essential element of collaborating with others while teaming.
Feeling liked is a foundation in every interaction. Whether or not a person feels liked affects everything from how they communicate to how invested they are in their performance. A person who does not feel liked at work can become apathetic and reserved, resulting in wasted resources. Methods to encourage likeability in your organization include programs such as leadership development, a diversity, equity, and inclusion plan, or emphasizing psychological safety.
2. Competent: the need to be seen as good at the things you do
All humans need to be seen and feel successful in their endeavors. The human need for competence drives employees to challenge themselves and feel satisfied in their contributions. Competence is necessary for psychological growth and promoting positive well-being. An employee who does not see their contributions valued will be less likely to vocalize their ideas in the future.
Employees that show up physically but not mentally are disadvantageous for everyone involved. A lack of ideas and creativity can hinder market breakthroughs for the organization and can cause burnout in the employee. Inspire the feeling of competence in your employees by promoting a culture of encouragement and celebration of success.
3. Independent: the need to be autonomous and seen as capable of working on your own
No one thrives under micromanagement. Independence increases employee confidence in their jobs and can promote collaboration. Leaders that encourage independence empower employees to use critical thinking skills when solving problems and making decisions. Employees that are confident in their abilities will be more likely to collaborate with their peers without the adverse effects of competition.
Everyone has their preferred methods of productivity. Encouraging agency to employees provides flexibility. Post-pandemic research by Envoy surveyed 59% of workers prefer the flexibility of a hybrid work environment. An organization that supports employees to feel autonomous in their work shows confidence in its workforce’s unique skills. Agency will keep employees eager to succeed and passionate about the work they provide.
The Great Resignation is a wake-up call for organizations in all industries, but it also provides an opportunity for growth. Fostering a healthy company culture to meet the employee’s needs at work can turn resignation into retention.