28% of employees worldwide are at risk of leaving their organization and expect Emotional Needs mainly from their managers!
Nicolas BEHBAHANI
Global People Analytics & HR Data Leader - People & Culture | Strategical People Analytics Design
?? Great Managers are the most powerful lever for delivering key emotional factors, and account for a 72% reduction in attrition risk, a 3.2x Increase in employee retention, and a 13.9x increase in satisfaction.
?? Roughly half of employees needs are functional, such as pay, hours, career advancement opportunities and the other half were emotional, such as feeling valued and supported, and doing work you enjoy among 20 different needs assessed to how important they were to employees, and their level of satisfaction with each one.
?? Emotional needs dominated all five top needs identified when correlated with retention, while functional needs like pay plummeted to the bottom of the list.
?? Employee satisfaction with their manager reduces attrition and increases motivation, satisfaction, and inclusion. But when manager capability falls, attrition risk can skyrocket, according to a new interesting research published by 波士顿谘询公司 using data from 11,285 employees across the 8 following countries: US, Canada, UK, France, Germany, Australia, Japan, and India.
?The importance of Emotional needs for retention
Researchers found an interesting link between departures and functional or emotional needs:
?? When asking employees why they would take a new job, functional needs are at the top
?? When employees have to make a choice, emotional needs rise in importance
?? When they look at top needs correlated with attrition, emotional needs dominate.
Researchers discovered the top five needs correlated with attrition globally emerged as:
1?? Feeling like I have job security
2?? Feeling fairly treated and respected
3?? Doing work that I enjoy
4?? Feeling valued and appreciated
5?? Feeling supported
Then researchers identified the levers most correlated with resolving these five emotional needs from among 300 workplace characteristics, ranging from upskilling opportunities to working model and leadership.
They found four significant, highly correlated characteristics:
?? Great managers
?? Supportive leaders
?? Access to resources to be successful
?? Access to opportunity regardless of background
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?Managers really matter for retention
Researchers found that the most powerful lever for delivering emotional needs is the Manager which was also number one in seven out of eight countries surveyed by researchers.
?? Researchers explained this score because managers have the power to make or break an employee’s day they’re the ones who play the most influential role in shaping their team’s day-to-day experience. They can recognize good work, have your back when something goes wrong, and understand what matters to you--or conversely, they can take credit for something you did, assign blame, or make you feel unseen.
?? Researchers also found that investing in managers is also linked to higher employee motivation, satisfaction, and feelings of inclusion.
?Link between dissatisfaction with managers and retention risk
Researchers also noticed that strong dissatisfaction with managers was linked to doubling of retention risk.
?? Attrition risk for employees whose manager satisfaction falls goes from 28% to a whopping 56% attrition risk.
??Finally researchers conclude that if you want your employees to stay with your organization, you should strongly consider delivering against the 5 emotional needs cited in this research. Investing in upskilling to make all managers great is the best investment you can make to retain your best workers.
Also researchers added that while there are overarching patterns at the workforce level that can help identify common needs, each organization is different and specific populations will have their own differentiated needs Therefore, it's imperative to gain a deep understanding of your organization’s unique employee segmentation and distribution to best identify tailored strategies for intervention and improvement.
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This interesting research which uses a fairly large sample in different countries shows that the needs of employees are mainly emotional rather than functional. These results show the impact and key factor of the manager in employee retention, therefore for organizations, investing in managers is crucial to retaining their best talent.
Thank you ?? 波士顿谘询公司 researchers team for these insightful findings: Debbie Lovich Gabrielle Novacek Christopher Gentile Jean Lee Hillary Wool Nick South Nicole Sibilio
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Absolutely fascinating read! ?? It reminds me of what Maya Angelou once said, "People will forget what you said, people will forget what you did, but people will never forget how you made them feel." Investing in emotional intelligence training for managers could be key to nurturing the emotional needs of employees. ?? Speaking of making a difference, we're excited about an opportunity to sponsor the Guinness World Record for Tree Planting. Imagine being part of setting a record while contributing positively to our planet! Check it out: https://bit.ly/TreeGuinnessWorldRecord ????
This enlightening research underscores the transformative power of emotional connection in the workplace. To bolster emotional needs and foster a culture of appreciation and support, consider exploring Xoxo Day's engagement platform. It's designed to address the very pain points highlighted, by automating and scaling reward and incentive programs, thus driving employee motivation and retention. Dive deeper into how Xoxo Day can revolutionize your approach to employee engagement: https://get.empuls.io/e5dqikcnk1su
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1 年Yet another research by big guys bringing the same results. The half of employees needs which make them engaged and satisfied are emotional. But who assures they are addressed? HR deals mainly with the first half, even I would doubt cover them outstandingly well, and not always due to own capabilities. The impact of leaders with their values and principles plays still significant role in making those compensation, development, retention, well-being and other HR programs effective or not. So, who is in charge of keeping the other half of emotional needs at a level? Yes, almost exclusively these are leaders of an organization. Does HR do enough for it? IMHO, the focus is not there and the scale of impact is limited. Is it a new problem? I’m sure not. Is it actively addressed? The fact more and more researchers highlight it, and the drama condenses, I think not enough. Time to set priorities the right way?
Lead Contracts Advisor at aramco
1 年Stepping up ?? requires unlearning process As highlighted by George Kemish LLM MCMI MIC MIoL MIoD ??unlearn the technical mindset that cannot serve you as a leader or manager (others may experience you as a hinder to the process due to lack of role awareness) ??Seek to update and differentiate your learning journey— having the vision, awareness of change and the type of impact expected can help navigate such divergence journey Unfortunately, some companies award technical leads with managerial journey without understanding that some may excel in that journey while others would wish their job ladder can be altered to keep rewards/compensations while maintain where they are at (some are gifted as technical leads while others are gifted at managing and leading) Rethinking rewards — and culture can unlock better team dynamics… success at the cost of employees wellbeing is costly… at times unethical and wouldn’t serve an org to survive and thrive— ?? ??