The phrase “business as usual” has never been more relative. Since the pandemic began, businesses have struggled to adapt to rampant employee burnout, hybrid work challenges, and higher standards of employee engagement. Over 20 million people quit their jobs in 2021 during the aptly named “Great Resignation”, and employers quickly realised that they needed to work harder. Now, we welcome The Great Retention: an era that favours employee experience by treating staff like humans first, and workers second.
To retain your company’s greatest asset (the human talent) your business must be desirable. Do you have built-in strategies to promote wellness? Is your team culture inclusive and conducive to productivity? Such factors, and how you can leverage technology to promote them, are essential to consider.
In this article, we explore The Great Retention, what it means for businesses, and how digital solutions can support them.
From Great Resignation to Great Retention | What’s happening?
The Great Retention is the product of employers worldwide observing the inordinately high resignation rates of 2021 and opting for a positive solution. It can be summarised like so: retention over recruitment, keeping employees happy means keeping employees. This solution guarantees a robust and reliable workforce for businesses while ensuring an enjoyable employee experience and engagement. Essentially, it’s a win-win for both parties.
Retaining Human Talent | How to get started
Without a clear roadmap for employee experience, companies risk losing quality staff and not meeting goals. Business leaders and human resource teams must partner up to develop employee retention strategies that cater to team members feeling appreciated. Firstly, adopt a people-first mindset and let this permeate every aspect of your work culture. Start with a clear mission statement, clarifying your intentions early on will help later decision-making. For example: “my intention is to make my employees feel valued and protected.” Now, when considering new initiatives, run it by this mission statement. If it is not supported by your statement, put it on hold.
Next, consider what employees are looking for. In our latest whitepaper we revealed the biggest work trends of 2022, and the greatest workforce demands. These include hybrid work, actioning employee feedback, and taking greater strides to promote staff wellness. It is critical to include these in your employee retention plan.
People-first Organisations: What employees are looking for
Rethinking employee experience may seem tricky, but when done thoughtfully it can improve every aspect of your organisation. Why? Well, a positive workplace culture promotes employee satisfaction and productivity, and lowers costly turnover rates. In fact, it is estimated that losing an employee can cost a company as much as twice that individual’s salary, which massively impacts your bottom line.
So, what does a people-first organisation prioritise? Here’s some examples:
- Support Employee Wellbeing: hosting a culture that values employees’ mental wellness and work-life balance.
- Onboarding the right way: helping new hires feel welcome from their very first day on the job.
- Assist Employees with Career Progression: encouraging employees to gain new skills and experience that boost their professional development.
- Inclusive Team Culture: ensuring the entire workforce is connected to your organisation’s activities and feels included in the team.
- Offering Remote or Hybrid Work: workers worldwide embraced the remote work model during the pandemic, savouring its many benefits, offering this work model also increases the scope of talent available for hiring.
Digital Solutions for The Great Retention
In 2022, all successful companies are expected to see a rise in digitilisation. Any company that does not risks their bottom line and the likelihood of retaining quality staff as digital solutions offer organisation-wide support. At ThinkShare, as Microsoft experts, we train companies to wield Microsoft products to their fullest potential. Many such products are at the forefront of employee retention plans. Here’s a few examples of what we can deploy and train your organisation to use, so your business thrives during The Great Retention:
- Microsoft Teams: this software is designed with remote workers in mind, and facilitates seamless online communication, file sharing, document collaboration, and more. It is the most powerful available software for simulating an office space while online. It is also fully integrated with Microsoft 365 applications e.g., Word, Excel, or PowerPoint etc. So, workers are equipped with the tools they need to be productive.
- Microsoft Viva: similarly, this was designed in mind for remote employee health, it offers the meditation app Headspace for mental wellness, and allows users to record their daily feelings at work anonymously. Managers can view the team’s overall mood ratings and turn this insight into supportive action. What’s more, other functions like ‘Praise’ allow you to acknowledge the hard work of other teammates.
- Microsoft Power Platform: this suite of applications exists to streamline operations at work, attain business intelligence, automate communications, and much more. The best part? They do not require technical programming expertise to use. Any user can start out with this software and redefine business processes in their organisation, this is an excellent opportunity for professional development at work.
- Microsoft SharePoint: this engaging intranet is essential for any business that operates online. It connects your staff to the same resources and information e.g., company news and updates, so everyone feels connected and informed to the same level. This is important when creating an inclusive team culture, onboarding new hires, and ensuring consistent employee engagement across all teams.
Do you want to improve employee experience and business productivity?
The Great Retention is one of the biggest opportunities in 2022 for companies worldwide. By investing time and resources wisely, you are perfectly placed to take advantage of a growing talent pool of workers looking for the best company to support.
Improving employee satisfaction not only improves retention rates, but it also helps attract new talent through word-of-mouth recommendations and superb staff ratings. So, why wait? At ThinkShare, we have been supporting businesses across various sectors adapt to modern work challenges and thrive in the post-pandemic world. Our Microsoft experts are fully trained to elevate your business to its fullest potential, and provide ongoing support even post-deployment, meaning we continuously help you adapt to the ever-shifting “new normal.”
To learn more about work trends in 2022 click here or contact us for a free consultation and demonstration of Microsoft’s capabilities.