What if the reason your best people are leaving isn’t about money, titles, or opportunities, but something simple and easy to fix? Just like any business goal is to retain and keep customers, in today’s world we need to also focus on keeping employees. Especially our best ones.
Although fair compensation, benefits and working environment are very important in the workplace, they are not the most important in keeping good people. Research has shown employees who feel valued at work are often happier, more productive and less likely to look for other employment opportunities. Of course, there are many ways to show employees how much you value them—from recognition programs and financial incentives to simple gestures, like listening and taking action on employee feedback. Knowing what is most important to your employees and how to show that you value them, create strong company culture.
Did you know that…
- 79% of people who quit say a “lack of appreciation” as a key reason.
- Teams and employees who don’t feel valued have 31% higher turnover.
- 40% of employees would increase their effort if they felt genuinely valued.
Making your employees feel valued in the work they do is important in your business and can ultimately improve your workplace environment, individual and team performance and help your business or organization reach its goals. Showing employees how much you value them will:
- Build trust: Employees who know you value their input, feedback and ideas often have trust in leadership and confidence in a company.
- Raise productivity: If employees know you appreciate and value their work, they often continue to work hard, strive for new goals and get invested in the company’s accomplishments.
- Increase morale: When you take the time to get to know employees, let them contribute and show you value them, team, department and company morale typically increases. Often the more positive people feel about their work environment, the better their output.
- Reduce turnover: When you value employees and demonstrate it, they often have higher job satisfaction rates and pursue continued employment or advancement opportunities and refer other job candidates rather than seeking other employment. This can help lower turnover and increase retention rates.
- Improve your company or business reputation: Being known as a company that values employees can help you attract highly qualified job candidates and possibly new clients or customers who want to support a business with a strong reputation as a good place to work.
How to make employees feel valued- What they REALLY want?
To make your employees feel valued, appreciated and satisfied at work, it is important to understand what they really want in the workplace. Consider knowing what your employees really want and taking action to fulfill their needs will create a better positive work environment for your employees:
- LISTEN TO ME: Give me a voice in the company. Ask my opinion on things
- NOTICE ME: Notice my contributions and comment on them.
- SEE MY POTENTIAL: Mentor me and take me under your wing to see what other value I can provide in the workplace.
- CARE ABOUT ME AS A PERSON: Learn more about me as a person outside of work. Ask me about my day, family, dreams, or challenges
- INVOLVE ME: Ask me to participate in projects, special tasks to help me make more meaningful contributions.
- APPRECIATE ME AS AN INDIVIDUAL: Appreciation is not one size fits all. Ask me what type of appreciation is important to me and how I like to be appreciated. In person or in public, words of affirmation, acts of service or kindness, or tangible gifts that are personal
Just like any successful business knows what their customers really want, and does their best to give it to them, it is just as important to know what your employees really want too! Why, because if your employees aren’t happy, your customers won’t be either.
Understanding what employees really want and value most is crucial to retain good employees as well as fostering a motivated, productive, and engaged workforce. Employees seek more than just a paycheck. They need an environment that nurtures their professional growth and personal wants. Now that is “MAGICAL”
Need help? Imagine what an affordable and effective training workshop would do to help your leaders or team be more successful. Then contacting John today for a FREE DISCOVERY NO OBLIGATION CALL is the right decision.
John Formica is America’s Customer Experience Coach, team culture expert, keynote speaker, and Top 10 Global Thought Leader and Influencer on Customer Loyalty. For information on customer experience evaluations and programs, leadership training, how to find and hire great people, affordable tailored training programs or to book John to speak at your next event, contact 704-965-4090 or visit our website at JohnFormica.com.