Job hopping is on the rise, and workers are spending less and less time with the same company. The Evolution of Work report found 70% of workers say they’re open to leaving their job, with nearly a quarter actively looking to shift jobs. The job market is booming – unemployment in the UK fell to 4.5% in May, the lowest since 1975, meaning that moving jobs is not as risky a move.
In fact, 15% of UK workers plan to leave their job within a year, the highest score in Europe according to ADP’s The Workforce View in Europe 2017. At a time of economic uncertainty and Brexit to and froing, companies need to retain their talent to maintain productivity. How can organisations keep their workforce when the grass seems greener elsewhere?
Culture shapes purpose
Organisations must look internally to make sure they are doing everything within their power to make their workforce feel valued and purposeful, and in turn more willing to stay. Essentially, do you know what motivates your staff?
Culture is more than making the office a nice place to work – although paying care and attention to the physical surroundings of your workforce is integral. Pay and hours play an important role in retaining employees, but employers have to meet their expectations too. But The Workforce View in Europe revealed that more nuanced changes, such as work-life balance or the ability to work remotely, could impact a workers engagement.
Understanding that a worker has their own set of priorities will make them feel more valued. Giving them the opportunity to develop their skills for their benefit, as well as that of the company’s, will help them feel like a more valuable member of the organisation.
Help them find the correct courses to develop their skills. Give them access to resources, tools and time to nurture these skills, or even attend talks with industry experts. Allow them to spend time at events to develop contacts within their industry. It’s interesting that one in three UK employees would consider a job outside of their industry, according to the Evolution of Work. This is a clear indication that people need to continue to develop personally if they’re to remain happy in their work.
Give employees regular appraisals
Giving workers an idea of how they are performing will help their sense of purpose. But a report by the CIPD shows that how they react to that feedback is almost more important for its effect on performance.
The whole appraisal process needs to be designed with this in mind then, ensuring the employee has the space to react. The culture of the company should allow them the freedom to speak up about how they feel their career is developing, and what they’d like to do differently.
When loyalty is waning, giving the freedom to develop, helping them to measure their own progress, and providing the culture for them to perform and grow are integral to retaining top talent. The first step is starting the conversation with your employees.