Employees want more than a paycheck. Follow these three principles to give them what they want.
How’s this for a revolutionary, new idea? Happy employees stay around longer and are more productive. Another way to phrase this would be “invest in your employees and they’ll invest in you.”
Wow. I know. What a surprise.
Servicenow
It seems like such a basic concept, but consider this: It was only in August of this year that the influential Business Roundtable, led by JPMorgan Chase CEO Jamie Dimon, revised its statement of purpose to include investing in its employees and supporting the communities in which they work. In announcing the change, Dimond said, “Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term.”
This is a welcome, but long overdue change. And not every company got the memo. In fact, in a recent ServiceNow survey of more than 1,400 employees at companies across the globe found that only 48% of employees say employers are invested in improving the employee experience.
In a tight labor market, this can really harm an organization’s ability to hire—and retain—the best talent. Companies need to do better, but where can they start? The research found three principles companies can follow as they invest in their employees and strive to improve the everyday work experience.
Principle #1: People want to do meaningful work
Most people want to believe their daily work matters, that they’re helping people and making a difference. But too often our days are filled with administrative tedium. You can’t log in to the right software. You don’t have access to an important document. You can’t find information in the company system.
The research shows that more than 4 in 10 employees find it difficult to resolve an issue logging in to software (46%), get a question answered about their benefits (45%), or find information about company policies (41%).
These everyday experiences matter—and can have a cumulative negative impact on employees. With all the advances in technology today, it’s surprising to see that nearly half of employees still struggle with everyday tasks.
Principle #2: People want a good relationship with their boss
We all want to feel like we’re part of a team, that others care about us and our perspectives. We especially want to know our boss values what we have to say. Without this belief, employees lose trust, disengage, and eventually leave the company.
This makes the results from our study especially disconcerting. Only 45% felt their opinions mattered to their employer. Only 40% believe their feedback is acted upon.
Large organizations have always had trouble navigating employee feedback. Enterprises are also slow moving—it can take months or years to incorporate some changes, and by then employees may feel powerless, disillusioned, and have given up.
Modern technology can help managers act on feedback more quickly. High response rates and quick turnarounds to suggestions make employees feel heard and valued by their boss.
Principle #3: People want to care about the purpose of their company
Research shows that employees who have a high sense of purpose in what they do—a purpose that’s connected to the mission of the company—also have high retention rates and devote more discretionary effort toward their work.
In our study, we asked employees across the world with various employee Net Promoter Score (eNPS) scores to rate how they felt about certain statements. On one particular statement, there was a clear delineation: “I feel a strong sense of purpose in the work that I do.” Detractors agreed with that statement 38% of the time, while promoters agreed 92% of the time.
These promoters are by far the employees most likely to stay on long term. With the right service experience and intuitive technology, many passives can also be brought up to promoters.
Invest in your people and they’ll invest in you
The employee quid pro quo—give them what they want and they’ll dedicate themselves to the business—is nothing new. The real challenge is delivering a day-to-day work experience that inspires. And to create that inspirational employee experience, you’ll need a thoroughly modern solution.
Discover how ServiceNow® HR Delivery can help you design and deliver a consumer-style service experience at every step of the employee journey. And to see HR Delivery in action, read about how Magellan Health was able to totally transform their employee experience, reducing HR caseload by 40% and decreasing time to resolve cases by 75%.
Interested in research-based insights into better employee engagement? Explore our online publication, Workflow.
"Happy" - Google News
November 07, 2019 at 05:05AM
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To Keep Your Employees, Keep Them Happy - Forbes
"Happy" - Google News
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