U.S. employers have a problem, and it may be one their employees simply don’t care about. According to statistics released by Gallup, only 30 percent of employees in the workforce are engaged. Furthermore, upwards of $500 billion dollars a year are being lost on disengaged employees. For the most part, poor management practices and confining work environments are to blame.
So what can employers learn from these disengaged employees? A recent survey conducted by engagement platform, You Earned It, revealed modern employees crave interpersonal connections in the workplace, prefer structured forms of communication, and prioritize positive interactions and teamwork over monetary incentives to engage.
Through the “How the Workplace is Changing and What Employees Really Want” infographic below, we are going to break down the top trends in top business workplace environments and what you need to keep an eye out for!
How the Workplace is Changing and What Employees Really Want Infographic Summary
Facilitate employee experience activities
Employees reported companies that invest in company experiences, like happy hours, mentoring programs, and group yoga, created higher levels of engagement. Not only does this make employees more excited to participate, but it also helps to cultivate positive workplace relationships. The You Earned It survey revealed just how essential these types of relationships are– a majority of people surveyed said having “great coworkers” had the biggest impact on their work in the past six months.
Spread of positive vibes
The modern employee also wants to spread the power of achievement to their peers. People surveyed said they place equal importance in giving and receiving recognition. 67 percent felt it was more rewarding to have the ability to donate a $10-dollar gift card to a co-worker rather than receive one from management. Try implementing programs that enable employees to nominate each other for their accomplishments. They forge stronger relationships, and greater personal satisfaction.
Keep up the communication
Real-time communication between team members and management is essential. To make an employee feel like they matter, the communication needs to be personalized. As companies grow, face-time between team members may become more difficult to facilitate. Task management tools and other technology like company calendars and use of instant messaging can supplement this issue and ensure everyone is on the same page. Feedback is also valued by the workforce– far more than bi-annual performance reviews, which can fail to take past victories into account, and be less positive in nature. Taking the time to schedule a bi-weekly check-in can immensely strengthen relationships.
Interestingly enough, the You Earned It survey revealed employee engagement is something that can’t be bought. Employees surveyed said a monetary incentive was the least likely factor to increase their personal engagement. Employee happiness and connectivity is an investment for employers that comes with returns no company can overlook. This is especially important as experience-driven Millennials have become the majority in the workforce. 65 percent of companies that have taken the time to increase employee engagement report lower turnover, and 22 percent have experienced higher profitability. What does that mean? It just might be time to rethink your company happy hour policy, or at least reexamine the inner-organizational relationships your management structure is cultivating.
Infographic source: YouEarnedIt.com