With the escalating costs of employee turnover, business executives are seeking ways to improve employee retention and increase employee engagement.
Employees are more likely to change jobs every three years, and nearly half the workforce is looking for a new job.
What can employers do to retain valuable employees? According to one study, employees with a high confidence level in their company’s senior leadership are 5 times more likely to remain with their employer more than 2 years.
How do companies promote confidence in the senior leadership team?
Be interested in employees. Employees want to be recognized and valued for their individuality. Inherently, employees know they are there to perform a job, but today’s workers also want to make a difference.
Demonstrate that you see them as more than just a robot at a desk and that you recognize their importance to the company. Ask questions about their career goals, their future plans, their life outside of work. Be genuinely interested in the people who work in the company.
Communicate the company’s vision and goals. Employees want to know their work matters. By communicating the company’s goals and vision, they can see how their job fits into the larger picture. Employee confidence grows when there is a clear path for future corporate growth. Identify ways the employee can help the company achieve success and tie their job into the overall corporate goals.
Provide regular updates.Corporate development should be part of an ongoing conversation with employees. Discuss the company’s progress towards organizational goals and share both successes and failures. While employees don’t need to be part of every decision, including employees in key decision-making processes can help build confidence in the management team. By sharing the behind the scenes process with employees, they begin to see themselves as a part of a larger process.
Establish comprehensive job training. Professional development is important. Offering employees regular training on job skills, cross-training within departments and other development programs indicates that the organization is invested in the success of its employees.
Recognize employee success.Demonstrate appreciation for employee success. Whether publicly or privately, showing that you notice an employee’s hard work will help employees feel confident their work does not go unseen and is important to the company’s success.
Listen effectively. Business managers develop trust by asking effective questions and listening to the answers. Go beyond surface-level conversations about employee ideas and suggestions, and then take action when appropriate.
Be a leader with integrity. Nothing builds confidence faster than being a person of your word. Letting employees see that you are leading with the values of the company, and that you do what you say you’ll do. Demonstrate trust in your employees and be worthy of their trust.
Developing employee confidence in senior management is an on-going process. It is established through the daily interactions management level staff have with the employees and is part of the organization’s culture.
By working to develop employee confidence, you are improving employee engagement and directly impacting the voluntary turnover rate by creating a place people want to work.
Where can you improve in developing your employees’ confidence?
Michele Bailey is president and CEO of Blazing Agency and My Big Idea®. These two lines of business work congruently to support her clients’ success.