Attracting and retaining talent with a culture of belonging
Organisations that infuse a sense of belonging in their employees benefit from a positive impact on business results, including increased productivity and retention. More importantly, this focus on connection and belonging has a positive impact on employees’ lives, their wellbeing, and their levels of stress, said Dr Natalie Baumgartner, Chief Workforce Scientist, Achievers Workforce Institute (AWI).
Writing in AWI’s 2022 Engagement and Retention report, she added, “Together, we have the opportunity to create a world where work extends beyond an eight-hour obligation to a safe and comfortable place where every employee can experience true belonging and thrive.”
The report from AWI provides the insights and tools organisations need to start building a culture of belonging to not only improve performance and retention, but to also empower a workforce of people to feel truly welcomed, known, included, supported, and connected.
Organisations can begin by noting that the intention to job hunt remains at an all-time high, with 66% of employees saying they might job hunt in 2022, just below the 69% who planned to look in 2021.
Half of employees also say that their company culture has deteriorated during the pandemic, and can be attributed to a lack of communication, employee input, and meaningful connection. Organisations need to invest more time and resources into ensuring they intentionally develop and maintain a culture that supports a powerful employee experience.
Work-life balance is also cited as the top reason for employees to stay in a role, followed by recognition and manager relationships. Organisations thus, need to create a culture where employees feel meaningfully supported and valued, said AWI.
When it comes to what pulls employees toward new jobs, career progression is the top reason cited for job hunting. People are re-evaluating what they want and need from their job and are looking for roles that better fulfil and challenge them.
Due to labour shortages, about 41% of employees are spending more time and effort to do extra work without additional compensation or promotion. Employers, AWI cautioned, must maintain key eye on burnout risk and offer critical support to employees.
Another key finding from the AWI 2022 Engagement and Retention report highlights how inaction drives disengagement with employees feeling unheard and unvalued. With fewer than one in five employers is consistently acting on feedback, AWI has determined a three-step cycle for gathering and responding to feedback that can help organisations meet their employees’ needs.
Ask by regularly gathering feedback through a variety of methods, from pulse surveys and ad hoc survey tools to Q&A sessions and feedback panels. Answer by reflecting to employees the key feedback received and how that data is going to be used. Lastly, Act by identifying team-level micro-actions that will have an immediate impact on the employee base.
When every employee feels welcomed, known, included, supported, and connected, they are more likely to stay in their roles and to do the best work of their lives, AWI highlighted.
Click here for the full report and find out how you can more effectively engage with and retain your employees.