(BPT) - For over a decade, Gallup has shown that engaged employees yield better results than those who are disengaged. In 2023, for example, the analytics firm reported that disengaged employees cost the world $8.8 trillion in lost productivity, or equal to 9% of global GDP.
On the other hand, companies with engaged employees are 23% more profitable, 18% more productive in sales, and 63% safer. If you don't want your company to be on the wrong side of those percentages, here are the Top 5 things employees want, and how to make them happen.
Stat #1: Employees are 45% less likely to leave their jobs when they receive recognition.
Solution: Publicly praise employees. Managers who make positive recognition part of their day-to-day work ensure their teams know they are valued. "Employee of the Month" and quarterly certificate programs remain popular because they give managers the opportunity to shout out team members during all-hands meetings and regularly celebrate their accomplishments together.
Stat #2: According to a 2021 Grant Thornton study, 45% of workers don't feel that their needs as employees are understood by their managers.
Solution: Provide feedback and support. Feedback lets employees know that they — and their work — are noticed. Give real-time, positive, constructive feedback and incorporate a mentorship program for newer teammates to learn from more tenured employees. Some companies even provide stipends for one-on-one lunches at popular local restaurants to make the experience more memorable.
Stat #3: Per a 2023 study, 70% of Gen Z expect to be promoted within 18 months of starting a new role.
Solution: Offer career development. Employers provide in-house professional development opportunities through companies like Niche Academy or by offering stipends for conferences, workshops, or webinars.
Stat #4: According to Deloitte, 89% of Gen Z workers consider a sense of purpose to be important to their job satisfaction and well-being.
Solution: Create enjoyable work. SHRM recommends incorporating corporate social responsibility (CSR) programs to align with employees' passions. To ensure alignment, companies conduct surveys to identify employees' passions, then partner with organizations like United Way to coordinate volunteer activities.
Stat #5: Density reports that 87% of employees want the ability to collaborate with team members and build relationships at work.
Solution: Foster collaboration. Create an inviting break room and encourage coworkers to grab a drink and work together in the office rather than venturing out. Some companies offer a variety of beverages, such as Java House's ready-brewed Peel & Pour Pods, which allow employees to make cafe-quality, eco-friendly cold brews, coffee, tea, and hot chocolate right in the office.
All workplaces and employees have different needs, but the drivers of employee engagement tend to be consistent across the board. Tap into these engagement techniques to help your team and business thrive.
