How to Retain Your Best Employees in the Age of the Great Resignation: The Power of Employee Engagement

Are you worried about losing your best employees to the “Great Resignation”? If so, you are not alone. According to Michael Page’s new “Talent Trends 2023: The Invisible Revolution” report, which surveyed 1,042 employees in Hong Kong, more than half of the respondents in the survey (56%) are also actively seeking new jobs. This indicates a high turnover rate and a low level of employee loyalty in the current market. How can you prevent your employees from leaving and keep them engaged and motivated in their work? One of the most effective ways is to improve your employee engagement.

What is employee engagement and why is it important?

Employee engagement represents the degree of commitment, enthusiasm, and connection employees feel toward their work and organization. It is increasingly recognized as the new way of working and the future of work.

Many HR professionals focus on happiness and satisfaction levels when considering employee engagement. However, it extends far beyond these aspects. Employee engagement profoundly impacts various dimensions of organizational performance, including productivity, retention, customer satisfaction, innovation, and profitability.

Engaged employees are more likely to stay with their employer, perform better, and contribute more to the company’s goals and values. They bring energy, dedication, and innovation to their roles, driving the organization forward. Conversely, disengaged employees are more likely to quit, underperform, and harm the company’s reputation and culture.

As we move into the future of work, fostering a highly engaged workforce is essential. This new way of working emphasizes creating an environment where employees feel valued, supported, and aligned with the company’s mission and values. By prioritizing employee engagement, organizations can ensure long-term success and sustainability in an ever-evolving business landscape.

How can you improve your employee engagement in 2024?

One of the ways to improve your employee engagement in 2024 is to leverage digital methods that can help you measure, improve, and sustain employee engagement across your organization. Here are some examples of digital methods that can help you boost your employee engagement:

Surveys and feedback

Collect real-time feedback from employees on various aspects of their work experience, such as satisfaction, motivation, alignment, recognition, and well-being. Analyze the feedback data and identify areas of improvement and action plans.

Currently, many organizations struggle with ineffective feedback mechanisms that are infrequent, not reflective of the true employee sentiment, or lack actionable outcomes. This can lead to disengagement and a lack of trust in the feedback process.

Paying heed to the voices of your employees allows for a deeper understanding of their needs, expectations, and concerns. Demonstrating that their opinions and suggestions are valued and actionable can foster increased engagement and loyalty within your organization.

According to a study by Officevibe found that 96% of employees said they wanted to receive feedback regularly, and 83% appreciated both positive and negative feedback.

By providing regular and constructive feedback to your employees, you can help them improve their performance, identify their strengths and areas of improvement, and set clear goals and expectations. This can also enhance their satisfaction, motivation, and alignment with your organization’s vision and values.

What’s next?

Transitioning to more frequent and meaningful feedback methods can revolutionize how employees perceive their roles and contributions. Instead of occasional performance reviews, implement continuous feedback loops that reflect the true sentiments of your workforce. Use digital tools to collect and analyze feedback in real-time, ensuring that you address concerns promptly and effectively.

By doing so, you will create a culture where feedback is not only expected but valued, leading to higher engagement and a stronger, more aligned team. This proactive approach can significantly boost morale, drive productivity, and ensure that your employees feel recognized and appreciated.

Rewards and recognition

Another digital method that can help you boost your employee engagement is to recognize and reward employees for their achievements, contributions, and behaviors that align with the company’s values and goals.

By acknowledging your employees’ efforts and accomplishments, you can motivate them to continue to excel and grow. You can also reinforce the desired outcomes and behaviors that you want to see in your organization. This can foster a culture of appreciation and celebration that boosts employee morale and loyalty.

In addition to rewards and recognition, digital methods can always remind employees of the company’s vision and mission, ensuring they stay aligned with the organizational goals and values. This new way of working can continuously inspire and guide them in their daily tasks.

A report by Gallup revealed that employees who received recognition or praise for their work in the past seven days were more productive, more likely to stay with their organization, and more likely to receive higher loyalty and satisfaction scores from customers.

By offering meaningful and timely rewards and recognition to your employees, you can show them that you care about them as individuals and as members of your team. You can also inspire them to achieve more and contribute more to your organization’s success.

Communication and collaboration

A third digital method that can help you boost your employee engagement is to facilitate effective communication and collaboration among employees, teams, and managers.

• Keeping your team members in the loop about organizational activities and initiatives by allowing them to share updates, news, ideas, and feedback on a social feed can foster a sense of involvement.
• Creating an interactive work environment where employees can engage with each other through likes, comments, and chats can make the workplace more enjoyable and engaging.
• Promoting collaborative efforts on projects, tasks, and challenges among your employees can harness their diverse skills, viewpoints, and experiences.

How can PerksBar help?

Employee engagement is not just a buzzword. It is a key factor that influences the success of any organization. By using digital methods such as surveys and feedback, rewards and recognition, and communication and collaboration, you can create and maintain a high level of employee engagement in your organization.

PerksBar offers a range of features that enable you to collect feedback, recognize achievements, communicate effectively, and support learning and development for your employees. Whether you have a remote, hybrid, or in-office workforce, PerksBar can help you create a positive and engaging work experience for your employees.

If you want to learn more about PerksBar and how it can help you boost your employee engagement, please visit our website or contact us today.