June 13, 2023
Keeping employees engaged, productive, and loyal to the company are some of the challenges that business leaders face today. Although some workers claim that they've left their workplace for greener pastures, the truth is, most of them quit due to problems at work. According to a recent Pew Research Center study, 63% of workers quit because they had no opportunities for advancement, while 57% resigned because they feel disrespected at work.
These issues could be fixed if managers would take the time to evaluate their own performance, as well as their attitude towards their team. By polishing one's leadership skills, workers can be encouraged to stay with the company, and employee retention is enhanced for the benefit of the whole organisation. Here's how to become a better leader to keep your employees loyal and engaged at work.
A lot of leadership books stress the importance of recognition as it's the key to keep employees motivated. But most managers forget to do this simple thing, and as a result, workers feel like they aren't valued. Around 58% of employees say that leaders could do more to improve employee engagement, and 28% of the most memorable recognition comes from a worker's manager.
If you're a team leader or a manager, keep in mind that you don't have to wait for HR or the higher ups to initiate recognition initiatives within your company. Acknowledging an employee's contribution to a project during a team meeting is one way to show that they're appreciated. You can also show your appreciation by buying coffee or pizza for the entire team. Meanwhile, rewarding top performers with weekend trips to popular vacation spots, such as Texas, can also make them feel cherished. Throw in a wellness package which includes treatments at a spa in Austin, and they'll appreciate it even more since it shows that you care about their overall wellbeing. To enhance these recognition efforts, consider implementing a meeting room booking system that allows for more spontaneous team gatherings dedicated to celebrating achievements. Utilising employee recognition awards can create a positive impact on workers' behaviour, so make it a point to do so whenever possible.
Most employees quit when they feel that their career is at a standstill and there's no chance for them to move up in the company. As a manager, you need to create these opportunities so that employees will be motivated to advance their career. It can be as simple as delegating tasks and responsibilities that will create growth opportunities for your direct reports. You can also talk to HR and ask for training sessions that can help to improve workers' skills. By creating a growth-oriented culture, you not only help employees to hone their abilities, but it also encourages them to do their best to advance their careers.
Being a good leader means watching your ego and always being open to feedback. Knowing your strengths and what you need to improve on can be beneficial for your organisation as a study indicates that managers who received feedback had 8.9% better profitability. Moreover, it helps you to be aware if you're doing something wrong so you can become a better leader. To be able to receive feedback, you need to create a space wherein those who are directly reporting to you will feel safe to speak freely. You can do this by treating everyone the same way, even those who give negative feedback. Ask them what they think about the way you handle the team, and if there's anything that you can do to improve.
There are so many reasons why employees leave the workplace, but offering perks, creating opportunities for growth, and being open to feedback can encourage them to stay. Try these methods to improve employee retention, and become a better leader so you can contribute to your organisation's success.
