In part 1 of this five-part series, the focus was on the money. Recruiting and retention require a financial investment for the simple fact employees who feel underpaid are tempted to look elsewhere. But money isn’t everything. Other things matter, too – like recognition for a job well done.
A 2019 Gallup survey showed that some 70% of the adult workforce in the U.S. feels disengaged at work. Why is that? Further research from OC Tanner reveals the number one reason: a lack of appreciation. In other words, 79% of the disengaged workforce feels as though they are not appreciated by their employers.
When employees feel disengaged, they also feel like they are cogs in a wheel; like a part of the company machinery that could be replaced by another part off the shelf. Being disengaged dehumanizes a person, and that leads to dissatisfaction.
The solution is to purposely engage. What does this mean? It means ownership and upper management actually rubbing elbows with the rest of the team. It means sitting down and having lunch with them, asking for their opinions, and implementing their suggestions for making the workplace better. It means throwing out the horrible idea that pizza parties are an adequate method of celebrating adult achievement.
It’s all about recognizing a job well done. And by the way, recognition by way of a token financial bonus and a plaque on the wall only goes so far. Employees would far rather engage with upper management and ownership willing to sit down and converse with them. Talking shop with employees acknowledges that they are people with good ideas worth listening to.
Recruiting the best talent is only half the challenge. Retaining them is the other half. Retention becomes easier, and more organic, when ownership and management actively engage with employees to recognize a job well done.