Your Employees Want Stability
January 22, 2019
By: Seth Baldry
Today’s workers face an unsteady job market like technology, economic factors, and myriad other aspects that disrupt the labor force. As a result, a stable workplace is more vital than ever to employee satisfaction and performance; in fact, a recent Gallup poll revealed that job security and stability ranked among the highest factors in employee satisfaction.
Employers should keep this increased desire for stability in mind when building their workforce. But, easier said than done. What’s an employer to do in this climate?
First, executives and employers should consider the factors that lead to employee instability, and how they affect behavior in the workplace. For example, when employees feel unappreciated, have little to no communication with management, and must-hear or read about the state of the company third-hand, they become disenfranchised and distrustful. This depletes morale, which sparks rumors about the health of the company, driving your best employees to look for another job. Being proactive in helping your employees feel secure is a wise decision.
Below are a couple of practices that can build trust with employees and improve a sense of stability, regardless of the size or growth rate of the company:
Culture of Appreciation
shows that a culture of appreciation in the workplace leads to improved worker satisfaction. However, many employers are still falling short of making the experience of recognition an inspiring or motivating one.
In addition to getting senior leaders involved in employee appreciation across all levels, you should consider instituting an open policy of peer-to-peer recognition. Co-workers are in a prime position to see one another’s daily, behind-the-curtain contributions that make your final product so amazing. Allow and encourage them to recognize each other’s great
work. Not only will a culture of appreciation foster employee engagement, the opportunity for peers to sing one another’s praises will improve productivity and morale.
Finally, keep employees updated on awards, community involvement, and client testimonials to remind them of the company’s commitment to stability, as well as their contribution to the company’s growth.
Sharing as much as possible about the state and future of the company engenders trust between executives and employees. Of course, there will always be data that must be kept under wraps, such as compensation details. However, regularly distributing other information, such as performance details, board meeting notes, and financial results will prevent employees from having to wonder, guess, or believe rumors about the health of their workplace and the stability of their jobs.
Even in downtimes, transparency is vital to employees’ sense of stability and trust. Sharing bad news with integrity gives employees a clear vision of the state of their job and can motivate them to weather a storm with your company. Encouraging discussion and addressing concerns will go a long way in building trust and providing the sense of stability that your employees yearn for.
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