The Great Resignation wave and high workforce churn is a byproduct of the pandemic that has altered the work landscape – and also the main reason why employee retention is a top priority for organizations in the new normal. It’s a job seeker’s market with good opportunities for talent – the US added 670k+ jobs in February alone. Many organizations think compensation, benefits, and in-office perks are some of the standard solutions to retain employees; but it most often depends on factors like workplace ethics, employee engagement, opportunities to upskill, and so on.
Workforce churn results in loss to organizations in terms of money, time, skills, continuity, and productivity among other factors. Satisfied and engaged employees are less likely to leave. Improving employee engagement is a challenging task, but it can be simplified with the help of technology. With employee engagement and experience becoming pivotal, it is essential for organizations to invest in employee engagement tech. Following are three reasons why organizations need to leverage employee engagement tech to address the high workforce churn:
Enhanced real-time visibility
An important aspect of employee engagement that can be upgraded with technology is automated employee pulse surveys and polls. It consistently monitors and provides organizations with employee engagement and comprehensive operations data. Along with the snapshot, it is vital to constantly communicate with the employees to understand their satisfaction level and their needs and wants from the employer – a vital factor in a tight labor market. Employees who feel heard and acknowledged will put in their best work. Employee engagement technology allows organizations to identify performance issues and regularly send surveys to the workforce. This harvested data is real-time feedback. Performance issues can then be handled with tech-empowered L&D measures that help train the workforce to perform better.
In addition, interacting with employees that feel sidelined – like those in overnight shifts or remote employees – enables organizations to make their employees feel valued and heard and simultaneously drive a people-first culture. Automated employee pulse surveys enable the implementation of proactive measures to resolve potential problems. Automation of HRTech, like the availability of shift roster on an app, allows for better visibility, and the employee has the option to swap shifts, giving them better control of their work life. Such innovations take the burden off HR and make the employee happier.
Implementing fair rewards and recognition programs
While analyzing employee engagement tech, it’s vital to check for tools that favor rewards and recognition programs as a critical retention tactic. A good employee recognition program is an essential perk that employees consider when joining or leaving an organization. A crucial part of employee rewards and recognition programs is that they are unbiased and fair. Leveraging data from employee engagement tools can help make it happen. Enterprises can use tools to monitor and analyze employee behaviors that sync with necessary organizational goals.
Common issues like late/irregular logging in can be easily tackled by establishing a rewards program that awards employees who log in on time. Employees get recognized systematically, is not related to conventional awards like “Employee of the month,” and no extra work for the management. Another bonus of such recognition is that even employees in the late shift who do not get to work directly with customers, managers, or other stakeholders are highlighted and recognized.
Better employee performance monitoring
Monitoring employee performance is crucial for new hires. Organizations must ensure that new hires feel valued, understood, and supported during the onboarding period and their stint in the enterprise, as 20% of the new employees tend to leave in the first few weeks if things are not favorable.
Most highly engaged employees are provided feedback every week. Regular feedback and visibility help leverage technology better to simplify business processes. Employee engagement software allows employees and managers to view the performance data and development deadlines as well as recognize employee’s long term career goals. Such a feature enable enterprises to understand performance trends, introduce new learning and development opportunities, upskill their employees and improve interaction across the organization.
Learning and Development is a critical aspect of HR for employee engagement and retention. Many organizations across the globe are increasingly investing in technologies to simplify and level up their HR initiatives. Performance management is a great tool to identify gaps and can fuel the HR initiatives in an organization. Employees today value career growth and HRTech/LearnTech should be a necessary tool in every organization’s arsenal.
Employee engagement is a multi-pronged activity and organizations need to invest their resources in the right technology to reap the benefits. Adeptus Tech specializes in enabling organizations to enhance their employee engagement through various tech initiatives. Talk to our experts today to learn more.