‘The Great Resignation’ dominated headlines during the immediate post-pandemic years, but new research has found that the crisis is far from over. Workers know the benefits they want and aren’t afraid to leave jobs for them. At times of economic uncertainty, businesses like BlackHawk Network are particularly effective in providing employee benefit solutions to help stretch salaries further.
But while employee benefits are certainly vital for companies to stay competitive in the current market, nurturing a loyal, engaged workforce also requires leaders to go deeper into what makes their team feel invested in the business. Here are some areas I believe leaders should be prioritising alongside benefits if they want to keep their talent long-term.
1. Provide Meaningful Work
Employees want to feel a sense of purpose and fulfillment in their roles. If their work lacks meaning or fails to align with their personal values and goals, even the best benefits may not compensate for this disconnect.
2. Create Opportunity for Growth
Employees seek opportunities for growth and advancement. They want to know that their employer values their professional development and offers avenues for learning, skill-building, and progression. Without such opportunities, employees may feel stagnant and seek new challenges elsewhere.
3. Prioritise Positive Work Culture
A supportive and inclusive work environment is crucial for employee satisfaction. Benefits can play a role in helping to achieve this, as they can be utilised and tailored to what your employees tell you they want. Beyond this, employees also want to work in an environment where they feel respected, heard, and valued.
4. Demonstrate Strong Leadership
Effective leadership plays a vital role in retaining employees. Poor leadership can overshadow the overall work package, leading to dissatisfaction and a lack of trust in the organisation. Employees want leaders who inspire, provide guidance, and demonstrate fairness and transparency.
5. Enable Work-Life Balance
Employees desire a healthy work-life balance. Excessive workload, long hours, and an absence of flexibility can lead to burnout and dissatisfaction. Organisations that prioritise work-life balance and offer flexible work arrangements tend to attract and retain talent.
6. Encourage Recognition and Appreciation
Employees want to be recognized and appreciated for their contributions. Genuine praise and acknowledgement of efforts can help employees reach a deeper level of employee satisfaction. Regular feedback, rewards, and a culture of appreciation are crucial here.
7. Manage with Empathy
People leave managers not companies. By getting to know their employees on a deeper level, and taking a tailored management approach to each individual employee, managers can become powerful drivers of retention.
In summary, employees are seeking a holistic experience in the workplace. They want to feel a sense of purpose, be presented with opportunities for growth, and work under a strong, inspiring leadership team. Benefits are integral to any retention plan, but won’t be effective alone, so be sure you’re considering what your employees really need from your HR strategy.