86% of Indian professionals might quit their jobs in 6 months, according to the survey conducted by Talent Trends 2022 report.
What could be the cause of such substantial professional turnover?
The majority of the workforce spends at least half of their day at work. So, without a doubt, workplace culture is the primary cause of job discontent and potential turnover. According to Jeffrey Pfeffer, who teaches organizational behavior at Stafford University Graduate School of Business, the work environment impacts employee wellbeing, workplace health, performance outcome, and possible job discontent.
Employee well-being in the workplace refers to employees who are engaged, have a strong sense of purpose, and have access to social and professional support. This directly impacts their decision to stay on your team and continue to contribute to the creation of great workplace culture.
We can build a healthier and happier work environment for employees by taking steps in the direction of their well-being.
1. Granting flexible work schedule
Flexible work hours has become one of the most important factors for people to choose their workplace specifically after the pandemic. Providing flexible options for people to choose whether to work from home or in the office can be a great way to retain and attract quality talent across the globe. Analyze if a flexible work policy has affected your culture and outcomes. If the answer is no, then you should definitely rethink your decision on 'Back to office'. If yes, then communicate the purpose genuinely and transparently. You can also make the transition smooth with a hybrid model during the initial days of transition.
2. Recognize your team's efforts to boost motivation
As a leader, make it a priority to recognize and appreciate your employee's contributions and dedication to their jobs. Try to build a structured routine to conduct 1:1 check-ins with your team and provide them an opportunity to share their efforts, learnings, and challenges to make them feel valued and heard. Build a culture of open and genuine appreciation for the efforts and outcomes of your team on common forums like the all-hands slack channel, email with Organisational leaders/Founders on CC, LinkedIn, etc. This is an effective strategy for motivating employees to maintain high levels of performance, job satisfaction and make them feel valued. It's natural for people to leave a place that doesn't value their efforts and presence.
3. Financial benefits
These are again one of the most important motivators for employees to stay with a company. Employees need to be compensated for the amount of work they put in. Transparent and data-driven compensation and appraisals will build the credibility of your organization among your current and potential employees. Other perks such as insurance and healthcare also play a crucial role.
4. Empathetic leaders
According to Greg Savage (author), “People don't leave bad jobs; they leave because of bad leaders, poor management, and a lack of appreciation for their work”. Great leaders push their employees to attain their full potential and contribute to the success of their organizations. Leaders should be able to empathize. Empathy is the ability to put yourself in another person's shoes and experience what they are experiencing. You will be able to connect with your team and inspire collaboration if you become an empathetic leader. This will also help you understand them better and see things from their point of view. Listening is a key skill that every leader needs to master. You must make it easy for your team members to contact you and express their concerns, questions, and even disagreements without fear of bad rating on appraisals or losing their jobs. This gives your team a sense of belonging.
5. Make their work more fulfilling:
Just like how an overwhelming workload affects an employee's job satisfaction, monotonous work for a longer period without many challenges and a directive manager can also affect it. People feel more fulfilled in a job when they are empowered to make certain decisions and have the freedom to experiment. You must let your teammates demonstrate their abilities for them to contribute to the organization's success. Only then can you ensure that your employees are happy with their jobs and have a feeling of purpose.
6. Work-life balance
People need to rest, refuel, and spend time for themselves and with their family and friends because you need to realize that the employees are also people with a life and priorities outside work and cannot solely confine themselves to meeting deadlines. You can help them do this by creating a positive culture where the co-workers and Managers respect people's boundaries beyond work hours and during their off times. You should also train your team to build structures and processes on how to make sure there is no lag when a team member needs to take off. Planning this in advance can avoid overloading your team.
7. Prevent/Reduce occupational burnout
People who work long hours in front of the screen with tight deadlines are prone to occupational burnout. Workplace stress can lead to mental health issues such as anxiety and depression. A stress management program is an excellent approach to prevent workplace stress from affecting productivity, causing attendance concerns, and leaving staff feeling dejected and tired. This can also improve their Emotional Quotient which can help them make better decisions at work.
8. Supporting employees' overall well-being with professional support
A healthier workforce is the biggest asset of any industry. Supporting their well-being with the help of professionals can also help reduce absenteeism, drive down healthcare costs and can improve employees' productivity, engagement, and reduce employee attrition. Ensuring their overall well-being from physical, mental to financial well-being will translate into greater work efficiency with increased belongingness towards your organization. Mindfuel360 offers experiential and holistic well-being workshops that are designed and facilitated by expert professionals on different domains of well-being like physical, mental, and financial well-being. Click here to know about how these workshops can help build a thriving workforce.
Let us commit to building a positive company culture, providing an exceptional employee experience, and prioritizing their well-being in the workplace to retain and attract quality talents.