While new worker recruiting and hiring receive attention and headlines, the biggest challenge facing organizations continues to be retaining the workforce it already has. Many articles continue to be written presenting worker retention strategies. Even more are written describing the various reasons people leave and seek other opportunities.
A March 2022 USA Today snapshot revealed that average increases for existing workers fell between 3-4% while increases for individuals changing jobs averaged 9%. The debate around the reasons why people make a job change is interesting. However, the ultimate ingredient around any worker retention strategy begins with organizational culture.
Every organization’s culture is unique and specific to the people working there. It is earned and developed over time. It is a composite of the actions taken and decisions made by everyone working there. Mission statements, agreed upon performance standards, and fair reward systems can be effective retention strategies. Others that have been effective include having managers be present on the work floor, as well as personalized coaching and development plans. How these strategies are applied and administered is really the test of success with employees. In the end, they are only as effective as the culture they are introduced into.
Company leaders are responsible for the cultural tone of the organization. An occasional self-assessment with an outsider audit will help guide future action steps related to the workforce culture. Some organizations elevate this step to a very formal process with input from workers, customers, and outside experts. Others just meet to answer a few questions, such as:
How are we showing employees they are valued?
Are we providing a clear link between our employees and the organization’s mission?
Are the existing reward programs and retention strategies focused on things employees can perform successfully and in which they can take pride?
Facing all of today’s ongoing workforce issues, some type of basic self-assessment regarding worker retention is recommended. Most of these assessments can be accomplished with a few digital surveys. Often, results will point to a few short-term fixes and several longer-term remedies. Work-Tech has provided a few suggestions and templates for a digital assessment and follow-up strategy. We are available to provide support if requested. The links are attached: