Not very long ago, “great corporate culture” was the dominion of major multi-billion-dollar conglomerates. Since the Covid-19 pandemic, smaller organizations have begun to realize that without an adequately supportive and nurturing culture, they stand to lose their most precious resource: talented team members. The record 4.5 million resignations in November alone are proof of that.
As a manager, focus on these three ways to show your staff that you are committed to their wellbeing as well as the organization’s.
Upskilling Opportunities
Many people who leave their companies, even after an extended career there, do so because they see remaining there as a dead end. A simple and mutually beneficial way of retaining talent is to provide them with upskilling opportunities.
This process has become so much easier today with online learning. Over the past two years, the range and sophistication of courses available as e-lessons have increased significantly. The widespread use of e-learning has also spurred a dramatic increase in the quality of lesson delivery, making it easier to learn no matter where the student is.
Encourage your employees to sign up and, where possible, point them towards courses that will bring value to the company as well.
Wages and Benefits
Higher wages and improved benefits are almost always the most powerful tools an organization has to attract and retain employees. In today’s employee-centric atmosphere, companies are upping their game by including substantial sign-on bonuses and, in a strategy related to the upskilling point above, even free college tuition.
The exact range of benefits to which your employees and potential employees will respond best depends. Some innovative schemes that are attracting attention (and employees) are back-up emergency child care, paid leave for pregnancy loss, and increasing retirement fund matching contributions.
Acknowledgement
People just want to know that they are heard. That is especially true of those lower down in the pecking order because it is so rare that anyone in a position of power does so (especially without expecting anything in return).
Research shows that employees react very positively to expressions of gratitude; it improves how they feel about themselves both at work and at home, and can even counter feelings of depression. One way of expressing gratitude that is gaining traction is social recognition, which is when an individual’s efforts are acknowledged publicly.
Another new but effective way to do this is the “stay interview”, where a manager thanks the employee for being a part of the organization. This reverses the usual dynamic where the few direct interactions with managers tend to be for criticism or an exit interview.
If you need assistance building the best corporate culture for your organization, reach out to me today.
