How do you address ITCHY FEET in your workplace?

A major reason an employee leaves a company is the same main reason a customer leaves a business, a feeling of lack of significance.

If a customer does not feel recognized within their desired time frame, or listened to, or respected through having their needs met, they feel insignificant to the company they were devoting their money to, and find somewhere else.

The same goes for an employee, however, the driving factors towards the feeling of a lack of significance can be different. Whether it be due to a perceived lack of compensation, lack of management recognition, lack of a feeling of job security, a feeling of a limited ability to grow, or a lack of flexibility to their own personal needs, the result is the same, staff turnover, increased costs and reduced profitability for the business. Sometimes the feeling of insignificance can come from the culture of the organisation, when the star performers receive higher recognition, instead of team culture of sharing recognition through team performance. 

There are many recognized benefits of long term employees.

1.     Experienced and efficient employees who deliver outstanding service and memorable experience for your clients. These employees also are the ones who the junior staff often turn to in the event of a conflict or need for problem-solving as they have the knowledge of what works, and the confidence to implement solutions.

2.    Brand awareness through familiarity and connections – improving customer loyalty, boosting referrals and developing a feeling of community within your organisation.

3.    Reduced costs in advertising, hiring and training new staff, the costs of human resource activities have been increasing on a regular scale in recent years due partly to the new view of work. The combination of all of the required tasks to replace an employee add up to an expensive process, one which is best avoided.

4.    Succession within organisations. Long term staff are able to help build the business and can step up as the business grows, bringing with them unique insight into the needs and opportunities of the organisation. 

It is likely the case that you had noticed when your employees are beginning to get itchy feet. Tell-tale signs such as increasing their Linked In connections, taking additional personal time for phone calls or meetings, or not engaging in future based conversations may have indicated to you that your employee may be discontent, or worse still, already interviewing for work elsewhere. What you do at this point can make the difference between an employee staying or leaving, and it doesn’t necessarily have to cost you an excessive amount in a pay rise or recruitment expenses if handled correctly. 

At this point, it is key to listen to your instinct and address the issue in a tactful manner. Avoiding the conversation, or avoiding the employee all together will not achieve your desired outcome. When engaging in this pivotal conversation, be careful not to make unwanted accusations, or make comments that may escalate the situation only making it worse. The worst thing you can say is “If you don’t like it here, leave”, because they will. 

Be understanding, considering it from their point of view

Know upfront that three years is long-term planning for your employees. Loyalty, as understood by millennials, is represented by, you pay me to do this specific task, I apply myself, and do my very best at this task, and to that measure, I am loyal, regardless if I am within the position for 12 months or 12 years.

A Newspoll survey revealed 48 per cent of workers said they believed they would stay in their current job for less than five years. A quarter of those people would leave within 12 months with workers between 18 and 34 most likely to change.

Recognizing the motivation of the new generation of employees will help you to adapt to the changing environment and create a workplace with engaged long term employees.

Peter K Murdoch of Forbes Magazine writes “Know your employee value proposition (EVP) for each role and make sure it aligns with the employees in that role. EVP is inclusive of many pieces, including compensation, rewards, benefits, mentorship, employee brand and the work product itself, among other components. Know the EVP for each position.”

If you do not have this awareness already, this can be the focus of your conversation when addressing the employee you think may be heading for the door. You can start with big-picture related questions, as you earn their confidence, you can ask for more detail. What do they believe is their purpose, what drives them, what is their 3-year plan?

If you have a concern regarding multiple employees it may be worth considering hiring an external agency.

"Depending on the size of your company and training budget, it may be useful to have an HR or management consulting team, to work with your executives and staff. They can anonymously gauge the sentiments of your team, help you independently manage a 360-degree review process, and identify steps that will lead to a more motivated and productive workforce," says Lynn Taylor, author and national workplace expert.

Finally, we have all heard the saying "prevention is better than cure", so below are 4 ways to improve your employees' workplace satisfaction and gain the competitive advantage you are looking for.

1.     Train your managers, Managers who have great leadership skills, the ability to build relationships and communicate well with your staff will help to reduce staff turnover.

2.    Train your staff, Workers today are looking for more than just financial remuneration, they feel a greater sense of fulfilment if their place of work is engaging with training and personal development.

3.    Consider change management practices, altering the job descriptions to be more of a tailor-fit for your employees, allowing for more flexibility for study, travel or home life. Another approach could be a change in the pay structure leaning more towards a holistic package that includes a range of benefits. – One idea is to create a reward system recognising specific achievements, either formal or informal, that could include simple things such as an extra hour for lunch, or a gift certificate. Other benefits to consider could be gym memberships, health fund discounts, or support in helping them achieve their lifestyle goals, such as through the delivery of financial advice consultations.

4. Invest time in clarifying your ideal client, service offering, and sales process. This will help your employees communicate your unique value proposition to your market, improving your brand awareness, and client appeal, which will increase your employee’s confidence and make their roles easier.

5.    Communicate regularly with your employees, starting at the very beginning by having a thorough orientation package. An employee’s view of the value the company provides to them is all down to perception, and the more often you interact positively with your employees, the more often you have an opportunity to influence their perception. 

If you have found this article interesting and wish to reduce the impact of employee turnover on your business, we are running a Cohesive Teams Master Class in Brisbane on November the 19th.