Categories
Organizational Culture

The Synergy between Organizational Culture and Employee Retention

‘No company, small or large can win over the long run without energized employees who believe in the mission and understand how to achieve it.’

Building on the words of business tycoon Jack Welch, this blog navigates through the profound synergy between Organizational Culture and Employee Retention. Corporate culture is widely considered a simple, straightforward component of an organization which often leads to core values being understated or even ignored. However, the inevitable truth of the matter is- Company values can be a powerful tool for employee commitment when nurtured into the guideposts of the organization.

The Impact of Company Values on Employee Retention

Retention of skillful employees has raised a key concern for businesses today due to the challenges involved in career meta-competencies of a multigenerational workforce and the baffling wave of Great Resignation. There are two factors primarily responsible for this discrepancy. First, there is the issue of job satisfaction. Second, there is the ‘Company Environment’ and the degree of comfort offered by it. An employee’s commitment is either strengthened or weakened by the rapport shared by the company’s values and his own work ethic. If the company culture does not align with an employee’s personal beliefs, a widening gap between these two vantages weakens retention and amplifies attrition. Interestingly enough, research shows only 4 in 10 people know what their company stands for and less than 50% feel connected to their organization’s mission.

So how can you ensure that your best employees don’t leave? Leverage your organization’s core values to build a proverbial safety net! Browse through the different attributes of a culture-driven organization and the impact they have on employee retention.

Communication is Crucial

A workplace culture that prioritizes communication and prizes a two-way feedback structure can do wonders for employee retention. Transparency and accountability needs to be ingrained into your company’s core beliefs in order to establish a healthy professional atmosphere for your workforce.

A Digital Employee Engagement Platform can resonate as a two-way communication channel through organization-wide announcements, employee pulse surveys, automated performance reviews, and a readily available knowledgebase. Having an enhanced level of communication can shed light on why employees consider leaving, and actionable efforts can be undertaken to improve the employee experience. By taking time to listen, companies foster a culture of compassion and loyalty that considerably reduces the risk of turnover.

An Actionable Vision and Mission

A pivotal precursor to company culture is a clear mission and vision statement, that proffers a sense of purpose to your workforce. Drive employee engagement by drafting a compelling vision for your organization, and more importantly, act on it! We hear it umpteen times in the professional world, but it can never be said enough– ‘Live your values’. No matter how eloquent or articulate your mission statement is, if it fails to pulsate with your employees’ day-to-day experiences, retention is implausible.

This is the unique factor that can set you apart from the marketspace; when employees feel connected to the bigger picture and sense mutual growth opportunities, they are less likely to look elsewhere. Gallup asserts that a strong sense of mission drives employee retention across generations. Thus, boost employee retention by giving your staff a luminary value-set to engage with!

Committed Leadership

The management style of your leadership team is an intellectual reflection of your company culture. Business leaders should be an earnest embodiment of your organization’s values, through words and actions. A corporate environment with a stifling leadership undermines trust and depreciates commitment, whereas good leadership creates a culture where employees believe their voices will be heard regardless of their stature.

Read more about people-focused leadership here.

Engage to Retain!

The frenzied rat race has become the governing factor while determining growth strategies in the current century. While this approach does work, the question that persists is whether it is a robust long term strategy for retaining talent. Here’s where employee engagement comes into play- highly engaged employees are 87% less likely to leave their companies than their less engaged counterparts, according to the Corporate Leadership Council. Instilling engagement into your core value base is the gateway to a healthy, committed, and reliable workforce.

Practices such as ‘Town Hall’ sessions with the CEO, virtual team development activities, sprucing up engagement with a social wall, and an automated rewards and recognition framework can all be executed via a Digital R&R Platform, thus adding a democratic and vibrant touch to your business environment.

In conclusion

Having established that corporate culture is the focal point that dictates employee retention within an organization, implementing the same is in your hands. Contemporary business leaders are aware of this shift towards organizational values and it is observed that companies better equipped for organic growth are those that invest adequately in cultivating a healthy culture and propelling Employee Engagement.

Connect with us for a personalized demo of our novel employee engagement platform, Gratifi.

Categories
Employee Engagement

Top 5 actionable employee retention trends in 2022

The past year ushered in a plethora of challenges for companies, from steering a remote workforce to operating during a global pandemic. On the parallel, a new challenge has emerged- employee retention. To reiterate, one in four workers quit their job in 2021 amid the wave of great resignation, a pattern that shows no signs of subsiding in 2022.

The talent scarcity and supply chain crisis is bound to impact the economic outlook over this year as well, coupled with a fundamental and seismic transposition of power between ‘employee’ and ‘employer’ markets. HR in the past was mostly focused on talent acquisition but modern HR professionals have now understood that retaining employees is just as important. The contingency? Employers across the globe need to invest in engagement and upskilling efforts post-haste if they want to avoid a long-term rise in attrition. We have jotted down the Top Five Employee Retention Trends in 2022 that can enable steady recovery from the great resignation and subsequently boost employee retention.

Data-Driven Insights: The Fuel to Charge HR

This is perhaps one of the most cardinal trends your organization should embrace. Quantifiable metrics are the wave of the future, providing affluent insights into strategies that can improve your employee retention efforts. Forrester has vouched for the combined value of people and technology, and the IDC has asserted that by next year, 60% of G2000 businesses will deploy AI- and ML-enabled platforms to support the entire employee life-cycle experience from onboarding through retirement.

With respect to employee retention, data-driven reports and analytics can help in identifying employee pulse, enable performance-based tracking, foster an unbiased rewards & recognition process, and uncover indirect information about the workforce to reveal their idiosyncrasies. Digitalization can therefore, permeate the workplace with profound consequences and result in a healthy employee retention rate.

Embrace Workplace Flexibility: Keep Proximity Bias at Bay

“When it comes to where we work, there will continue to be three main models- centralized workplaces; decentralized, remote organizations; and the hybrid ‘best of both worlds’ approach.” states Forbes. Considering the rapidly changing scenario of the workplace, it is crucial to accompany digitalization with a smooth shift to flexible working models. Proximity bias which entails partiality towards employees working in office and curtails the spirit of work-from-home employees; is highly undesirable and needs to be nipped in the bud to retain your workforce.

A digital employee engagement platform is perhaps one of the best ways to counter this dilemma, as it is a one-stop solution for all major HR facets- rewards, recognition, engagement, nominations, and information. Organization-wide announcements, virtual events, discussion forums, automated recognitions and nominations are a few ways to tackle the proximity bias. Thus, with adequate systems and policies in place to assist the transition to flexible work and its long-term implementation can boost productivity and open the door for amplified employee satisfaction and commitment.

Strong EX Apparatus: Foster L&D and Internal Upward Mobility

A pleasant employee experience is a noteworthy precursor to retention. Research shows that employees in their first year on the job have a 33% turnover rate which is higher than that for tenured employees. Lack of interest in the job itself, lack of benefits, and the desire for a better work-life balance are the major reasons cited for this. This anomaly can be averted by adopting an engagement software with a robust onboarding program.

L&D and internal upward mobility is another principal trend projected to permeate workplaces in 2022. Conducting interdepartmental training, incentivizing L&D sessions, proffering ample chances to get involved in special projects, and make lateral moves to other positions are practical ways to support and nurture a committed workforce. The shift in focus from roles to skills is likely to be a key trend for both organizations and employees in 2022.

Encourage Employee Wellness: The New Era of Humanity

Mental and physical well-being are taking center stage across the globe, and on the professional front, this awakening provides your company with a golden opportunity to foster a culture based on corporate empathy and compassion. Read more about the salient connection between employee wellness and a digital engagement platform to make the most of this gravitating development in 2022.

Suffice to say, organizations that will eliminate the stigmatism around mental health and make employee wellness a top priority are the ones that will attract and retain top talent.

Rewards & Recognition: The Essence of Employee Retention

Employee retention revolves around a robust rewards and recognition framework, which is the central nucleus of employee experience. Needless to say, employees are the conduits through which your business’ vision is realized and if you don’t make consistent efforts to reward, recognize, and retain them, attrition is bound to multiply.

The journey to employee retention starts with assessing the skills and software your organization will need in the next two to five years. The first step should be putting together a cohesive, employee-oriented R&R strategy to create a resilient, flexible, and inclusive organizational culture.

Recognition leads to Retention. To know how, connect with us now!

Categories
Employee Engagement

Features to Consider while choosing an Employee Engagement Software

Selecting the right employee engagement software can be pivotal to supporting your retention goals and creating the right digital employee experience in today’s VUCA world. Whether you’re looking for a better way to keep your workforce engaged or searching for a checklist for the right R&R technology vendor, you’ve come to the right place. This blog will help you in identifying your exact problem statement and list the key features offered by a premium technology provider.

Problem#1

You want ideas on implementing a new R&R Framework from scratch

An engagement technology partner works with multiple firms- often cultural leaders- to structure R&R programs across industries, geographies and firm sizes. An accomplished solution provider will therefore, not just create a default platform but also build an R&R framework keeping in mind global best practices. Here are the essential features you need:

  • Rewards framework consultation
  • Budget allocation and points administration
  • Reward catalog curation
  • Reward redemption
  • Integration with HRMS/HRIS

Problem#2

You want to digitize offline R&R processes

If your organization already has an R&R framework in place, you then need a solution provider to be able to capture its essence through minute attention to detail. Every touchpoint of your digital engagement platform needs to represent your culture and employer brand. Additionally, the digitization process must aim at defining your total rewards program better and linking it directly to an organization’s mission, values and performance metrics. Features you’ll need:

  • Custom recognition and nomination workflows
  • KPI based reward disbursement
  • Gamification
  • Custom reward management
  • Buildable reports

Problem#3

You want to change your R&R platform provider

Dissatisfied with your existing employee rewards software? Make sure to know the specific pain points and changes you want in your new one. Maybe you can run employee surveys or get thoughts from a dedicated R&R committee on these gaps and demand their solutions in proposals. You may even run a pilot and slowly scale to ensure successful implementation and adoption of the new R&R platform. Features you’ll need:

  • 360-degree recognition and cross-functional nominations
  • Role-based dashboards and prescriptive insights
  • Pulse Surveys and Polls
  • Collaboration Features
  • Branded collaterals and marketing support

Problem#4

You want enhancements in your current R&R program

What if you already have a well-functioning R&R platform and only need specific solutions to enhance its efficacy? This is where a premium R&R provider can really add value by showcasing only relevant modules and integrating such point solutions with your in-house platform or HRMS. Any robust employee engagement platform has modular features that can work very well with collaboration tools, AI chatbots, employee recognition apps and so on. Features you’ll need:

  • Virtual Engagement Activities’ Calendar
  • Employee Sentiment Mapping with Attrition alert
  • Employee Wellness Modules
  • Employee Recognition App

Problem#5

You only want to start with digital corporate gifts

Not ready for a full-fledged digital engagement platform yet? Maybe you can start with a DIY rewards platform that HR can use to disburse gifts or allow employees to self- select gifts from shortlisted options. Features you’ll need:

  • Rewards Microsite with multi-currency support
  • Global Rewards catalog
  • Personalized branded merchandize, curated gift hampers and trophies
  • A vendor who provides personalized packaging, quality assurance and shipping PAN India
  • Gift order tracking and history

As a general rule, partnership with a new engagement technology provider is best initiated with caution. Not only do you want to look at platform features but also company history, platform security compliance, platform adoption rate as well as pre and post-live support. An engagement technology vendor can be a significant influencer in an organization’s work culture, retention program, performance management and of course- engagement outcomes. A premium vendor will have a robust data analytics engine, scale-as-you-go solutions as well as friendly billing models to prioritize value creation for its customers.

Our product, Gratifi is among the top reward and recognition solutions in India. Get in touch with our team to know more.

Categories
Rewards and Recognition

A brief guide on employee appreciation for your blue-collar workforce

Recognition, engagement, and appreciation has gleaned expansive prevalence amid the white-collar workforce, however, the extensive contribution of the blue-collar workforce in building a holistic organization has been gravely overlooked. Needless to say, blue-collar workers are the ground level warriors delegated with the Herculean task of manual labor which is the backbone of any industry. A Deloitte report asserted that three in five organizations (60%) are increasing the share of gig workers/blue-collar workers. Furthermore, an article in the CSR Mandate highlighted the importance of upskilling this facet of employees in order to upscale the Indian economy; there are over 450 million blue-collar workers in India and this number is expected to rise by 10-12%.

A structured employee engagement and recognition program coupled with an efficient skill-mapping process is quintessential in the growth and development of blue-collar workers, as well as that of the organization. Here are a few best practices that can be adopted to devise an employee engagement and R&R framework best suited to these blue warriors.

A blue-friendly recognition experience

The principal challenge that needs to be overcome when it comes to recognizing your ground workforce is the lack of digitalization. Depending on the type of blue-collar job– manufacturing, construction, maintenance, or other– your employees are less likely to be privy to computers, laptops, mobile phones, and other internet-based gadgets. Furthermore, these employees may struggle with connections due to language sensitivity resulting in communication barriers. Hence, it is vital to adopt a recognition software that enables a non-digital and language-friendly recognition experience.

A key initiative that can be taken up in order to drive inclusion, appreciation, and hands-on recognition within your blue-collar workforce is the installation of computer kiosks in common areas that exhibit a built-in recognition portal, along with tools that allow kiosk connect. Worth mentioning, your R&R platform should be compatible with multiple native languages and easy translation in order to ensure high adoption of the software. Push notifications about redemption and recognitions via SMS or messaging can also be beneficial to facilitate instantaneous recognition from coworkers, managers or subordinates.

A strong learning & development program

The ground workforce is distraught by a massive skill-gap, hence, bridging this difference can go a long way in motivating these employees. Establish an incentivized L&D program that includes key skills that your blue-collar workforce requires to climb the ladder and upgrade themselves on the professional front. A virtual R&R platform can enable point-based incentivization of L&D along with performance-based tracking via analytics and reports. Proffering the opportunity to learn, educate, and grow is the best reward a blue-collar employee can receive, and is the most valued gesture an organization can make.

To paraphrase Thomas Edison, ‘Opportunity is missed by most people because it is dressed in overalls and looks like work’

Rewards and recognition- The missing piece in the puzzle!

The most impressionable demonstration of appreciation for the blue-collar workforce is monetary and non-monetary rewards that add-on to their compensation and help maintain a work-life balance. It is paramount for today’s HR industry to eradicate the bias and stereotype that has revolved around these workers in the former years, and give them credit where it’s due. An employee R&R software can curate a customized rewards catalog with automated reward disbursement and fulfilment end-to-end, as well as disburse financial rewards and incentives calculated through a point-based system, thus, facilitating an appreciative, motivating, and healthy work environment. Apt examples of tangible rewards that would be practical and useful are home appliances, furniture, personalized gear, sturdy footwear, bank cards, and gift cards or shopping vouchers.

Bleed Blue, indeed!

As a growth-oriented organization, there is nothing more important than recognizing the individuals who allow it to succeed. Blue-collar workers are the primary strata of an organization’s human capital, and if they are not valued or appreciated, the core organizational foundation would be in jeopardy. Case in point; in a world where skilled labor is harder to come by, and most blue-collar jobs require extensive on-site training which can be financially and physically burdening for the company; the smart move would be to adopt appropriate R&R efforts to sustain and retain the blue-collar workforce rather than acquire and build a new facet of employees from scratch. Blue-collar jobs are governed by four crucial factors- discipline, safety, productivity, and up-skilling, all of which can be fostered only through a focus on employee wellness and timely, boundless recognition, whether tangible or intangible.

Blue lives matter! Connect with us to design a rewards and recognition framework tailored to the needs of your integral blue-collar workforce.

Categories
Rewards and Recognition

The power of customization in employee rewards

The multigenerational workforce today is dynamic, spirited, and cognizant of their merits. Constant engagement and consistent rewards are the key factors that drive motivation and commitment within these employees; ergo, why are rewards still proffered as per traditional norms, when almost every other aspect of HR has undergone transformative change? The time has come to trade the standardized employer-driven R&R programs for a fresh, personalized approach to employee benefits and rewards.

A customized corporate rewards strategy enables a multiplier effect that can drastically enhance the employee experience with respect to R&R. Platforms which provide tailor-made corporate rewards solutions are procuring phenomenal traction, as a result.

Pitfalls of standard employee reward programs

Overdue gratification: Conventional rewarding processes cash out once a year, which hardly imbibes any motivation or encouragement within employees. In-time appreciation is a requisite to ensure a successful employee R&R framework, which cannot be achieved through standard programs.

Inadequate recognition: A standard R&R structure is exceedingly biased towards consistent top performers in the workplace who bag all of the awards and recognitions. But what about the other workforce facets? Holistic motivation is plausible only when disparity is evaded and all categories of the workforce feel duly appreciated and encouraged to deliver better.

Predictable rewards: Traditional reward schemes lack the element of surprise that creates a buzz of anticipation among the workforce. When rewards come in the same form at the same time, it is impossible to intrigue and engross employees, thus losing the precursor to healthy appreciation and recognition.

The ultimate guide to customized employee rewards

Previously a relatively straightforward exercise involving the right mix of compensation and traditional benefits; employee rewards are now in the midst of transformation from strictly standardized to highly personalized, agile, and holistic. A Deloitte survey asserted that organizations whose rewards strategies were highly aligned with organizational goals were the most likely to anticipate growth of 10% or more. Needless to say, companies at the forefront of this realization are undoubtedly gaining a robust competitive advantage in the form of bolstered employee engagement and sustainable employee retention amid the Great Resignation.

Here are a few tips that can help realign your rewards framework to imbibe a personalized touch.

Instant recognition and rewards- Timing is crucial

To make the reward experience memorable, stimulating, and inspiring, timing is key. The lesser the time lag between reward delivery and the event being celebrated, the better it reinforces employee behavior. A tailor-made instant reward disbursement framework can be adopted through a digital R&R platform, where rewarding is instant, sans involvement of any third party, and can be done at the push of a button. Employees receive points and vouchers via SMS or e-mail, which can be instantly redeemed against any product or service available in the redemption catalog. Suffice to say, instantaneous rewarding is indispensable to a holistic year-round R&R strategy.

Gamify your approach- Encourage healthy competition

Gamification involves the use of game-like elements, such as points, rewards, and competitive platforms to boost employee engagement. A digital R&R platform with a point-based redemption feature allows employees to earn points for individual, group, and company achievements. As employees accrue a balance of points, they can choose from a broad selection of rewards at different point redemption levels.

Gamifying the rewards process adds zest, vibrancy, and liveliness to the experience, that manifests into healthy and mutual competition. AI-driven insights and analytical reports extracted from these platforms can also help employers learn more about how and when to best reward employees to drive motivation.

Digital corporate gifting- The freedom of choice

It should come as no surprise that employees nowadays prefer to have options rather than a blanket approach imposed by their employer. Leveraging creative approaches to accomplish synergy between your rewards strategy, organizational goals, and individual preferences is the prime requisite to wholesome employee satisfaction. The integration of tech into the corporate gifting process enables organizations to use analytics to align employees’ performance with relevant rewards. Gifting platforms can then offer a customized catalog comprising a plethora of physical products, digital vouchers, gift cards, and experiential vouchers that reflect your workforce’s demographic preferences.

By facilitating seamless and personalized gifting through instant digital reward redemption, employees are given the room to enjoy the freedom of choice, instead of being coerced to accept standard gifting options. An interest-based, holistic corporate gifting portal efficiently conveys a stronger sense of appreciation and invokes commitment.

In conclusion

Adopting a new-age customized plan-of-action for employee rewards can satiate the inherent need for professional appreciation, build an empowered workforce, and elevate employee morale. It is also imperative to note that apart from fostering a loyal and committed worker base, a customized employee rewards framework also helps to amplify brand reputation within the talent marketspace.

Unclear about your roadmap to building a customized employee rewards framework? Consider handing the reins over to the experts. Connect with us for an in-depth insight.

Categories
Employee Engagement

Employee Appreciation Ideas for 2022

Workforces across the globe are abuzz with excitement, as the official Employee Appreciation Day is just a couple of months away. Falling on March 4, 2022, it could be slated as the perfect opportunity to thank and motivate your employees by curating recognition experiences that are fun, heartfelt, and memorable. The enthusiasm of stepping foot into the new year coupled with anticipation for the upcoming employee appreciation season; there couldn’t be a better time to plan and execute your year-round appreciation activities with sure-fire vigor! A Gallup research has highlighted the importance of engagement and appreciation, because businesses with highly engaged teams outperform peers by nearly 150% in earnings per share. Furthermore, in the midst of the great resignation, initiating and professing appreciation where and when it’s due can help create a culture where employees want to stay longer, do better, and traverse the extra mile.

To paraphrase the acclaimed French philosopher Voltaire, ‘Appreciation is a wonderful thing. It makes what is excellent in others belong to us as well.’

Remodeling appreciation to keep up with changing times

The employee-workplace scenario has undergone tremendous change, compelling business leaders to nurture organizations that engage employees as passionate, creative, and worthy contributors. The lack of physical togetherness curtails the limits of appreciation, hence, employee appreciation methods and processes need to go through a metamorphosis to keep up with the rapid transformations that have occurred over the past year. Taking this into account, appreciation and recognition needs to be personal, specific, and timely in order to be deemed effective, robust, and meaningful. This blog is your ultimate guide to worthwhile appreciation ideas that can up the ante for your organization whilst revitalizing employee commitment.

Thoughtful appreciation ideas for 2022

An employee recognition program is a proven way to boost morale, minimize attrition, and increase engagement- when it comes to retaining and nurturing talent, it’s hard to beat a clever, personalized gesture of appreciation. However, most of the recognition efforts come across as inauthentic or self-serving in recent times, therefore, now is the time to get creative, make your recognition program timely and tailored to the workplace, and have a robust appreciation model in place.

Fetch appreciation from your leadership team

It’s important for employees to hear from their leaders; a heartfelt message from the CEO or a personal note from the manager can go a long way in exhilarating your employees. Case in point, 28% of employees believe the most memorable recognition comes from their manager, while 24% want to be recognized by a high-level leader or CEO. Have leaders craft messages that let employees know that their contributions deem them worthy of gratitude and how it transpires to the success of the organization.

Recognize all employee facets- Remote, in-office, and hybrid

Whether your employees work in the office, remotely, or in a hybrid model; it is vital to ensure that your appreciation efforts reach everyone indiscriminately. Planning a celebration in the office should be accompanied by dedicated efforts to include remote workers as well through virtual team meets and equalized distribution of rewards, recognitions, and points across all employee facets.

Send a heartfelt emailed note, have a townhall session to celebrate team successes, provide lunch or digital experience vouchers, deliver a personal gift to their homes- there are countless ways in which a holistic appreciative culture can be invoked.

Celebrate noteworthy occasions

Occasions such as birthdays, work anniversaries, and familial developments offer the best opportunity to invigorate and elevate employees’ self-worth. Leverage a digital engagement platform to plan, execute, and celebrate special events through collaboration tools.

Encourage physical and mental wellness

An impactful but rather underrated way of bestowing appreciation is by keeping a check on employees’ well-being. Bearing in mind that your employees might need an extra push to get them on their feet amidst remote and sedentary lifestyles, employee wellness can be encouraged by adopting a digital engagement platform. Streaming live sessions and virtual talks by wellness professionals, organizing group events with physical activities through employee surveys and polls, and provision of physical health based benefits such as pharmacy vouchers, home-based wellness services are a few ways of showering your employees with affection and care.

Personalize your rewards

Broad-based acts of employee appreciation have their own place in an organization; but 2022 brings with itself a pressing need to personalize and make employees feel individually known and recognized. Custom merchandize and gifts incorporated with a personal touch and weaved into an appropriate gifting cycle is no doubt, a strong indication of an appreciative culture.

Appreciate often, not just one day!

While striking the balance between the soft and hard aspects of the workplace may feel challenging, being patient and implementing feedback on employee appreciation/ recognition ideas will pay off in worker satisfaction. A digital R&R platform can enable tracking of each initiative through analytical reports and insights. Also noteworthy is that great talent management processes are agile, and having the right systems in place gives companies the ability to seamlessly adjust to the workforce’s shifting needs and build appreciation frameworks that align with contemporary trends.

Employee appreciation is a much bigger facet than a day or week. Expressing gratitude, giving thanks, and applauding good work are indispensable pillars to erecting a distinguished organization with influential characteristics. This list can serve as a powerful foundation to plan employee appreciation activities throughout the year- as appreciation cannot be limited to just one day!

Connect with us to find out how an employee engagement platform can assist in realizing your appreciation efforts!

Categories
Employee Engagement Organizational Culture Rewards and Recognition

How Employee Recognition strengthens organizational culture during the Great Resignation

The wave of Great Resignation is wreaking havoc over a plethora of industries, across the globe. Originating primarily in the US, it has permeated workplaces worldwide. Global upheavals have caused morbid uncertainty, which in essence, has become a breeding ground for several professionals quitting their jobs, and employers are facing the inevitable brunt. The statistics are indeed alarming- A Microsoft study found that 41% of the global workforce and 54% of the Generation Z workers could be considering resignation. There has been a paradigm shift in organizational cultures over the last few years due to global upheavals and economic disruption which has taken a toll on the freedom and advocacy of employees, rendering the traditional employee recognition practices moot.

Suffice to say, the great resignation is happening, whether we like it or not. It’s widespread and likely to persist, unless companies can identify and scrutinize the root cause of this staggering development. This blog walks through the different ways a rewards and recognition solution can enable organizations to stem the tide of attrition and increase employee retention.

The profound link between resignation and recognition

As companies grapple with the new normal, a palpable shift in power has been observed. Not feeling valued by their organizations (54%) and lack of a sense of belonging at work (51%) are the prime reasons cited by employees for resigning. A few notable observations with regards to this are the lack of recognition, employee engagement, and harmonious professional relationships; ergo, if companies cannot or will not prioritize employees as the core nucleus, employee turnover is bound to multiply. Therefore, technologically advanced and consciously devised R&R efforts are the only hope to stabilize businesses amid these uncertain times.

Rewards & recognition is essential, not optional

Gone are the days when employee recognition was viewed as an elective decision; it has now evolved into one of the pressing needs in order to strengthen organizational culture. Adequate compensation is important, but just as important is how you recognize and value the contributions of your people. It is time to ignite the need for a systemic look at your R&R framework, and challenge the status quo if your company’s rewards structure is misaligned to the current reality of the marketplace. Your best bet to operationalize appreciation within and across teams is through a formal employee recognition program with an automated R&R structure, customizable digital award nominations, and an in-built reward redemption portal. A digital R&R platform can ensure a seamless, transparent, and consistent process that can deliver timely appreciation and motivation to your workforce.

Prioritize ‘workforce’ development over ‘workplace’ development

The culture of an organization, and how it manifests in the development of the workforce, is more important today than ever. For instance, the mental well-being of employees has come to the forefront in lieu of the great resignation. While employers are trying to tackle the burnout trend, without a structured approach, many lack the competency to overcome this challenge. A holistic R&R platform can facilitate adequate workforce development via incentivization of learning and development, live streaming of wellness sessions, and provision of professional counselling services catering to the mental and physical well-being of employees.

To paraphrase Amanda Cage, CEO of the National Fund for Workforce Solutions, “It is time to build an economy around working people; one that is holistic and recognizes workers’ humanity.”

Rethink and redo employee engagement

Employee engagement is not just a buzzword; it is in fact one of the most crucial aspects that can curb the great resignation. Adopting a digital engagement platform can create a safe space for employees to step up, participate, and engage. Quantifiable measurement using behavioral analytics and reports, AI-driven chatbots, performance-based metrics to streamline R&R efforts, and better collaboration through social features such as user posts, group events, and recreational sessions are a few ways to build a people-centric organizational culture. Read our article on the benefits of digitization with R&R tools to get a deeper insight into this strategy.

Diversity, inclusion, and equity is key

It takes immense strength to accept that outcomes are better when multiple ideas are included, when fuller representation is present, and diverse perspectives are heard. A meticulous DIE program is key to safeguard your organization from the great resignation wave, and a mandate for employee retention. An employee engagement platform can help in administering pulse surveys across the organization for proactive communication and feedback gathering; dedicated chat groups and virtual discussion forums for a diversified workforce can strengthen peer bonding and build advocacy for better inclusion. Extraction of anonymized data from company collaboration tools can also be facilitated through the platform, enabling measurable tracking of DIE goals.

In conclusion

Willingness to adapt and respond to change paves the path to deeper engagement and loyalty from all your stakeholders. This wave of resignation can be viewed as a golden opportunity for leaders to realign their corporate values and focus more on sustainable efforts pertaining to employee recognition, rewards, and engagement to strengthen your organizational culture. A hands-on approach towards your R&R framework is the need of the hour to curb employee attrition and strengthen organizational commitment.

Turn the great resignation into the great recognition! Connect with us for a free demo of our employee recognition solutions

Categories
Employee Engagement

The importance of kindness in the workplace

“An act of kindness, however small, is never wasted.”

A simple gesture of warmth and goodwill is by far the most underrated means of creating a well-functioning workplace. Employee engagement has rightly become a complex endeavor in leading organizations. However, it is useful to remember why it all began in the first place- to help human beings feel cared for, valued and feel like they belong. In other words, even the best made management plans can fail if robbed of kindness. This applies to dealings with customers, employees or channel partners.

Traditional management theories have hardwired the importance of short-term productivity over human well-being which has shown to damage the fabric of the best, most talented teams. Emotions tend to figure often in people management, which may result in undue criticism, miscommunication or even bias and apathy. The missing ingredient to create a “balancing act” and uplift employee wellness is kindness. This blog will touch upon some essential ways to foster kindness within any organizational culture.

Timely appreciation and recognition

One of the key manifestations of kindness is appreciation and recognition. In workplaces where recognition and timely appreciation become the norm, a ripple effect is generated. Research shows that when people receive an act of kindness, they pay it back, and not just to the same person, but often to someone entirely new. Offering an adequate avenue, such as a tailor-made rewards and recognition platform with a concentric focus on employee engagement can enable spur-of-the-moment instant recognitions, easy reward redemption, celebratory greetings for birthdays or anniversaries, and monetary as well as non-monetary rewards. This strategy can go a long way to bolster a kind and supportive workforce.

Empathetic leadership

As Bill Gates rightly said “As we look ahead into the next century, leaders will be those who empower others.” Compassionate listening, consistent reassurance, and a conscious effort to validate employees is indispensable to good leadership. An employee R&R platform can assist in creating pulse surveys and capturing employee sentiment, helping top management understand employee voice better. Virtual Q&A sessions, broadcast messages and kudos from senior management are some of the key features that can be leveraged to foster kindness in leadership.

Peer bonding

Peer bonding is fundamental to a kind workplace, as research has identified a “Helper’s High” that people experienced when they volunteered due to the release of dopamine in their brains. This emotional upliftment can be boosted through an R&R program that rewards acts of kindness and facilitates peer-to-peer recognition. Studies have shown that peer recognition is much more valued by employees compared to manager recognition, as peers in the same team are closely in touch with what they do day in and day out.

Kindness- It costs nothing, but means everything!

Kindness is an attribute that needs to be consciously cultivated in the cultural ecosystem of the organization, as evidence shows that it creates a positive ripple effect. Employees need to experience kindness in the workplace to deliver their best performance, especially in times of crisis, be it a personal or a global upheaval. A digital employee engagement platform can go a long way in propagating acts of kindness across organizational silos.

To know more about our digital employee appreciation tool, setup a free demo today.

Categories
Rewards and Recognition

Digitizing the human touch with R&R tools

Workplace digitization is the new normal, which has been ingrained into organizational cultures over the last couple of years. The infusion of trailblazing software with R&R and employee engagement is one of the major driving forces responsible for augmented efficiency of the HR industry. However, the core argument still persists- that digitization is allegedly depriving HR of its human touch. The advantages of digitization are countless and definitely pay off when calculating the return on your HR technology investment. Employee-centric software catering to rewards, recognition, and engagement needs is shaping up to be one of the most disruptive trends in HR currently, thus, this blog explores a few ways digital tools can actually help enhance the reach and effectiveness of R&R programs, whilst retaining a personal touch through humanized R&R features.

According to a Gartner research, HR is rightly replacing human effort with automation in HR service delivery. However, it is important to note that if approached insensitively, digitization presents a significant threat to employee engagement. On the other hand, if approached thoughtfully, it offers a lucrative opportunity to inspire workers and deepen their commitment towards organizations. Digital R&R tools represent a working partnership between man and machine, where, instead of replacing humans, automation can provide AI-driven decision support that complements human perception.

Data-driven insights

Digital R&R tools are the enablers of quantification, as these tools generate analytical reports and data-driven insights that can be leveraged to take apt decisions related to nominations, reward recipients, and recognition value. Measuring the impact of employee engagement and linking it to business goals is the prime advantage offered by such tools, thereby keeping a constant check on its RoI. This, in turn, offers increased opportunities for meaningful work as low value-added tasks are automated and the availability of information assists in less assumption and more data-driven decision-making. Thus, the human touch can be simplified and at the same time, amplified via accurate results and significant engagement metrics.

Hyper-personalization of EX

The adoption and subsequent execution of R&R tools enables leaders, managers, and even individual employees in shaping up employee experience, thereby ensuring that engagement is more personalized and directed towards holistic development. Hence, digitization can in fact assist the human effort in crafting better, deeper, and meaningful experiences for employees.

Enhanced performance motivation

A well-crafted R&R portal provides a single, targeted, and often customized access point for each employee across the hierarchy. It allows employers, managers, and employees to access the resources and data relevant to their role, courtesy of which powerful career development plans can be drafted for each individual. Performance data based on customized reports and analytics can aid in inculcating an effective communication strategy between managers and their teams.

Sustainable execution time and effort

The manual process of delegating rewards and recognitions is cumbersome and requires copious amounts of time and effort. The most lucrative advantage of using an appropriate rewards and recognition platform is that the more time you invest in devising a personalized, gamified engagement strategy, the easier it is to execute it in a seamless manner. Suffice to say, organizations that are designing their future workplace are better off taking new trends such as digital R&R tools into account.

In conclusion

Leading organizations across the globe have realized that they need to disrupt or be disrupted, as a result, the adoption of digital platforms and tools is the precursor to what we now call the digital workplace revolution. The human touch is indispensable to the HR industry, but so is digitization, if organizations want to excel and stay ahead of the game. Employees are a company’s greatest asset, and digital transformation is the key to preserving the sanctity and credibility of these employees.

Automation and augmentation need to work in cahoots to bring real value to employees in the form of improved productivity, greater working flexibility, and convenience through mobility and collaboration. Needless to say, the old quote “change is the only constant” is truer today than ever.