“What experiences predict whether employees are going to quit or stay?” That’s the question Great Place to Work asked in its report, Unlocking the Secrets of Employee Retention. They found three factors outstripped all others, with purpose being the most important. People prioritize meaningful workmore than anything else. They want to feel they’re contributing to a cause greater than themselves or producing something significant.
The report also found that what’s meaningful varies drastically from one person to the next. This is no surprise. Humans are a diverse and richly nuanced group. You can’t be all things to all people. So, what are companies to do when considering retention strategies?
The key is identifying what your employees—the people you want to attract, inspire, and retain at yourcompany—find the most meaningful. What makes them tick on a grand scale and in their everyday work?
This is no easy task. But there are ways you can drill down on what matters most to your people. Consulting firm McKinsey points out that an organization’s stated purpose is the one thing it can directly control, so start there. Make sure your mission isn’t simply a poster on the wall. Leaders need to live, breathe, and model the organization’s purpose in everything from their daily interactions to their most important business decisions.
Hearing directly from the source is also critical. Ask your people—from the top executive to the newest frontline worker—what they find meaningful. Keep the lines of communication open; open-door policies, surveys, workshops, roundtables, and small-group sessions are useful here. And follow through on your support for the issues your people highlight as most important and meaningful to them.
WAHVE helps insurance firms fill critical gaps in their staffing through its Vintage Expert Contract Staffing and Talent Acquisition Outsourcing services. WAHVE’S extensive qualifying process looks beyond skills and experience to assess a candidate’s fit with an organization’s culture – an approach that has produced an unmatched retention rate.
About the author
Sharon Emek, Ph.D., CIC, is founder and CEO of Wahve (www.wahve.com), a leading talent solution provider to the insurance industry. WAHVE's innovative Vintage Contract Staffing solution supplements insurance firms' staff with pre-retiree work-at-home vintage experts on long-term contracts. WAHVE's Talent Acquisition Outsourcing solution delivers a bias-free, end-to-end, cost-effective sourcing and talent qualifying service, streamlining the process of securing the most qualified and diverse candidates.