Opinions of contributing entrepreneurs are their own.
Throughout my career I have built and led teams of all shapes and sizes. With more than three decades of experience in leadership positions, I can confidently say that working on retention is one of the easiest and most effective ways to support your business in times of difficulty or uncertainty.
A company with solid retention benefits from cost savings, increased productivity, and better morale. It can provide better customer service and knowledge retention is crucial. As leaders of an organization, entrepreneurs should take the time to analyze their retention rates and ask themselves how they are keeping top talent.
The old idiom goes, “Money speaks,” but I’ve found that monetary rewards such as raises or bonuses aren’t the best way to keep employees happy. People want a sense of accomplishment from the place they spend more than 40 hours a day in, and employees who feel they are in the right company, everyone is on the same wavelength, and are in their position for the right reasons form a team of highly functional individuals who together create a solid and flexible organization.
Related: 4 Ways to Boost Your Employee Retention in an Uncertain Economy
How to identify an engaged team
If your company has an engaged workforce, the people are completely committed to the company and its success. They are motivated and emotionally invested in the work they do every day. In my opinion, this goes beyond just liking a job: an engaged employee is actively involved in his work and strives for a common goal that is in line with the vision of the organization.
Engaged team members are well aware of the values of the organization they work for and feel equally committed to upholding them in their work. They recognize how their individual roles contribute to the company’s overall goals.
Leaders who have created a culture of strong employee engagement have created a workforce that puts their trust in leadership and sees them as exemplifying the values they uphold. When employees are engaged, they are generally more efficient and capable, and project a positive image to customers. In addition, increased collaboration fosters innovation, as ideas come freely from many sources rather than being confined to a select few.
As an ukbusinessupdates.com and leader, you must recognize that no one wants to come to work every day just to collect a paycheck. People want to feel like they’re working on something more important, and improving engagement with your company can make everyone want to show up and work hard. Promoting a work environment in which employees feel supported and carry out their responsibilities in a team-oriented atmosphere is good for the whole company.
Below are six ways to ensure you keep employees engaged as a leader.
1. Have a concrete purpose and values
If your company does not have a mission statement or value system set in stone, it can be difficult for employees to fully understand what is expected of them. Engaged teams have a clear vision of what their organization is working towards, and if this vision is cloudy, it’s easy to lose sight of what’s important in everyday life. Employees who are more task-oriented than goal-oriented often don’t understand where they should focus their efforts because of an unclear mission.
As custodians of their company’s culture, entrepreneurs should thoroughly evaluate the purpose and values to ensure they are both clear and represented throughout the company. Including the values in employee evaluations or even adding your purpose to screen savers can be ways to communicate to your team the big picture and what they are working towards.
Related: Creating a connected workforce through quality core values
2. Put the time into the employees as individuals
It’s a common perception that professionalism means not knowing the personal lives of those you work with, but during my time as a leader in business I’ve found this to be untrue. It’s amazing how knowing more about someone – their families, backgrounds and personal goals – can change how you look at them, and vice versa.
Getting to know your employees makes them feel valued and helps managers make the most of their company strengths. As a result, employees will feel valued as more than just a body to fill a seat and will be more engaged with the company as a result.
Related: Why a Personal Touch Pays Off in the Workplace
3. Provide an open communication channel
While it may seem tempting to keep high-level information about the company’s performance confidential, a team that is well aware of the organization’s position is more likely to feel involved in the results of their efforts. Since employees have a personal stake in the company’s success, withholding information will only lead to mistrust and speculation. To cultivate an engaged workforce, establishing regular communication is essential.
Effective communication is a two-way street, which means leaders must also make sure their employees feel their voices are heard and valued. Some of the most effective solutions I’ve come across in my career came from a lower level employee who felt comfortable enough to bring their idea to the table.
4. Offer them opportunities for personal development
To keep employees engaged, it is crucial to provide them with growth and development opportunities. This can take many forms, such as offering additional training, delegating tasks to a team without micromanaging, or assigning a seasoned employee to mentor a new recruit.
While promotion is a common way to advance within a company, it should not be the only source of advancement opportunities. Good leaders understand their employees’ strengths and weaknesses and encourage them to expand their skills while mitigating their shortcomings. When employees feel they are stagnant or unchallenged in their role, they are less likely to be engaged in their work. That is why it is important to provide them with growth opportunities.
Related: Why are companies still hesitant to invest in employee development?
5. Recognize and reward often
Recognizing an employee’s achievements is a powerful motivator that shows the workforce is moving in the right direction and reinforces actions that align with a company’s values and goals. There is no need to be stingy with recognition when it is deserved. While monetary compensation is one way to show the appreciation employees would welcome, it’s not the only way to recognize their efforts. Offering words of encouragement, sending a brief message, or sending an email acknowledging an employee’s hard work can make them feel valued and respected for their contributions, resulting in a more engaged workforce.
6. Create opportunities for teamwork
While it is important to encourage employees to work towards their personal goals, it can also be easy for them to lose sight of the bigger picture when working in an organization. Fostering camaraderie and teamwork is essential to workplace engagement, and leaders can foster collaboration by implementing policies that encourage team building or holding weekly cross-departmental brainstorming sessions. Engaged employees understand that their colleagues have each other’s backs and all strive for a common goal.
Employee engagement and strong retention in a company are inextricably linked. They are a direct cause and effect: as a leader, if you keep your team members engaged in their work and committed to your company’s purpose, you can retain great people, and for longer.
