According to recent research by SHRM, a staggering 58% of surveyed employees said they quit their job because of poor workplace culture and held their managers responsible for that. I would have guessed that salary and growth opportunities would be leading factors but finding corporate culture as one of the main reasons employees look for another job is eye-opening.
Come to think of it, we have always heard that employees leave bad managers, not bad companies. The new generation employees’ mindset has undergone a drastic shift towards experience and culture from salaries and retirement perks. And believe it or not, 87% of HR experts believe that employee retention will be a primary concern unless the corporate world catches up to their expectations.
Traditional HR technologies are designed to monitor available human resources and infrastructural costs incurred through systems such as applicant tracking system (ATS), performance management system (PMS), and human resource information system (HRIS). While they offer periodic transactional data about their employee KPIs, they offer no insights into employee expectations and work efficiency on an individual level.
More than 50% of CEOs agree that corporate culture significantly influences employee productivity, creativity, profitability, and ultimately, company value. Hence, many industries are adapting work-oriented technologies that prioritize employee pulse and work culture improvement to analyze business efficiency.
Read along to know the essential reasons why your company needs to adapt to such work tech systems to not just enhance employee experience but also reduce attrition rates.
Image source- humanresourcesonline.net
Your New Employees Will Need Focused Guidance
A recent study from the Brandon Hall Group revealed that organizations with a strong onboarding process improve new hire retention by 82% and productivity by over 70%. This strong onboarding process is achieved with an employee-focused orientation plan. Here’s what it should include:
An impactful introduction to the mission and culture of the company
Ease of communication with higher-ups and new colleagues
A clear outlining of expected goals, objectives, and skills
Proactive support and troubleshooting in the initial stages
Monitoring of early employee pulse and collecting frequent feedbacks
Long story short, organizations will need to make an extra effort to guide new hires through the initial hiccups of starting a new job. This factor holds true for new and old employees in the long run if you plan to build a team that sticks to your company.
Your Employees Need To Be Listened To
Traditional HR tech has only allowed a one-way channel of either broadcasting announcements or collecting general feedback to and fro. This system has led to some of the gravest misunderstandings between the company-employee relationship like this one by Gallop insights:
89% of employers think employees leave for more money, but in reality, only 12% do.
Every employee has their own sets of goals and challenges, which a one-track system fails to acknowledge, leading to work dissatisfaction and resignations. You will need a system that caters to an employee’s individuality in terms of their challenges, weak points, work qualities, etc. and focuses on factors, such as:
Enabling employees to progress at their pace
Learning their real-time sentiments and encouraging an open-to-all environment
Conducting pulse surveys to know their unique opinion on routine work matters
Allowing performance analytics to understand their impact on business growth
Your Employees Can Be More Productive
One of the best evolutions in modern work cultures is that the traditional vertical command chain culture has dissolved into an open-to-all growth culture. Employees seek a work environment where their team can coordinate and track tasks as a team rather than month-end targets.
However, looking at the collective performance of a team blurs the individual performance trend of its members. Not all employees perform evenly throughout the year. And without a system to track their real-time performance, they are unable to detect their lagging phases or qualities and self-improve persistently.
Hence, your organization needs to have an AI-enabled work management platform that:
Empowers employees to track their work in real-time
Modify their goals to meet the team’s requirements
Tracks everything from personal milestones to team targets to know if they are making a real contribution to the organization
Integrates a learning system that proactively recommends helpful or necessary courses for improving their skills and productivity
Your Managers Need To Manage Better
Gallup also suggests that managers account for at least 70% of the variance in team engagement
and heavily influence employee wellbeing. Hence, an unproductive manager can directly influence your attrition rate.
So how can you track a manager’s efficacy in dealing with their work and team? Through team performance surveys? Or through anonymous team feedback? And if they do fall short on a front, how do you help them grow?
The one answer to all these questions is an AI-powered intelligence system that enables your managers to:
Not just track their team performance but also introduce necessary action plans to improve it.
Set definitive objectives and key results (OKRs) and guide the team towards achieving them
Conduct feedbacks to analyse their team pulse and opinions (anonymous if necessary)
Gain recognition and rewards for their achievements and efforts
Gain insights into their demerits and access a personalized learning system to overcome them.
Your Employees Need To Learn & Evolve Faster
With technologies evolving faster than us, it is often hard to keep up with the changes in global demands and work processes. In such times, it becomes the company’s responsibility to help employees maintain a work-learning balance to deliver in-demand solutions on demand.
But conducting general workshops does not cater to the individual capabilities and requirements of an employee, which can affect the team’s productivity in the long run. Here, you need a work tech solution that is flexible enough to serve the individual learning needs of all employees at their own pace through any learning management system (LMS). This system would allow the team to keep up with their industrial advancements and deliver results that are beyond client expectations.
As the pandemic forced companies to decentralize and fragment into numerous homes of their employees, many of them had to take a long and hard look at their traditional HR management system to understand if it really fits into the new employee-oriented work culture. After all, employees are the foundation of any organization.
If you also believe that business growth lies in empowering and retaining good employees, integrate the best workforce management system that can transform your work culture. You can start by walking through the Personifwy features to know the unique aspects of this system that help companies build a loyal and productive team.