Given that two-thirds of employees are likely to job-hunt in 2022, most organizations are thinking more deeply about how to engage and retain existing employees. Between the ongoing pandemic, a worsening labor shortage and a workforce on the edge of burnout, there is a massive need to focus on retention and providing employees with support and recognition.
In March 2020, practically overnight, 78% of employees were shifted to an at-home setup, completely overhauling the way teams connect and communicate. While employees seemed to enjoy clocking in from desks nestled in their bedrooms, many found that they began lacking connection to their organization. So much so that 46% of employees say they felt less connected to their company now than they did before the pandemic, and a mere 21% of employees currently dub themselves as very engaged. As the isolation settles in, missed deadlines, low-quality deliverables and increased absenteeism have become themes of the modern workplace.
Instead of handing in their resignations physically, many workers have begun silently resigning—known as “quitting in place.” Their LinkedIn profile may say they still work for your company, but they are checked out and disengaged from their day-to-day tasks and traditional employee contributions. Disengagement affects many aspects of business performance from employee retention to organizational performance to a company’s bottom line, raising a major red flag for HR departments.
HR is Rolling Out Company-Wide Perks, But Employees Aren’t Satisfied
With the company’s success at stake and employee turnover higher than ever, HR departments are scrambling to engage employees with unique perks like free gym memberships, four-day work weeks and floating holidays. However, many are forgetting that employees are highly unique and frankly, generalized perks and rewards aren’t moving the “engagement” needle.
Today, employees want to be recognized for their efforts, especially as many are taking on more responsibilities at work as the labor shortage continues. Recognition is a powerful lever to help improve businesses in the modern era, almost doubling productivity, engagement, and belonging—even encouraging employees to advocate for their company. In fact, according to Achievers research, individuals recognized weekly are twice as likely as average to have solid job commitment and five times more likely than those never recognized to say they infrequently think about job hunting.