You have probably heard the term before—the “Great Resignation” refers to the record numbers of people leaving the workforce during the COVID-19 pandemic. Unemployment has reached record lows, and employees are in high demand. Hiring and retaining employees can be challenging right now. Keep reading for a few tips on how to keep your employees happy.
Employees are human (not very shocking), so they naturally follow Maslow’s Hierarchy of Needs, which can be translated into an Employee Hierarchy of Needs. Some of the most basic human needs translate to paychecks from a company. To support themselves, employees need to be making a fair living wage. If you are not meeting their demands salary-wise, it is highly likely that another company can. Now is not the time to cut costs by offering new hires the low end of the salary range—they will take another company’s offer.
Keep tabs on your current employees. If they have been taking on more work or are hitting anniversary milestones, it may be time to offer a raise. You must show your employees that you value them and the work they are doing. The most tangible way to do this is through their paycheck.
Employees want to be heard. We need to listen. As a leader in a company, it is vital to open the door to allow employees to make suggestions about improving functioning. Employees will appreciate that you recognize the impact they can have on company decisions. Make employees comfortable to bring issues and recommendations to you. Be open to criticism.
Benefits & Flexibility
It is 2022. Employees know what companies are capable of when it comes to benefits and flexible work schedules. People have begun to place more emphasis on work-life balance—they value their vacation time. The pandemic/Great Resignation has shown us what we can achieve while working from home. If your company can effectively work on a hybrid or remote schedule, offering that option can make you a lot more appealing to potential employees, and it can keep current employees happy!
Employees know their worth. The current state of the workforce is allowing them to find jobs at companies that not only support them but also make them happy. Be that company!