It’s no secret that resignation rates have been on the rise as of late. The phrase “the Great Resignation” has instilled some anxiety in many employers across the nation. It is now a reality that we cannot ignore.
According to the U.S. Bureau of Labor Statistics, 4 million Americans quit their jobs in July 2021. The Covid-19 pandemic created a shift in the workplace, causing many employees to re-evaluate their current positions and the places where they work. A new Gallup analysis found that 48% of America’s working population is actively job-searching or watching for new job opportunities. These numbers show a pressing need for employers to boost employee retention and satisfaction. So how can companies alleviate the pressures of the Great Resignation that they may be facing? Many solutions are found within HCM systems.
Engaged Employees Are Happy Employees
According to Gallup’s State of the Workplace: 2021 Report, the employee engagement rate is now between 20%-34% in both the U.S. and Canada. A lack of employee engagement affects both employee retention and revenue. When employees are engaged, they are more productive, resilient, and perform better in general. One of the best ways to make sure employees stay engaged is through features found in HCM software.
HCM Tools To Boost Employee Engagement
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- Employee engagement surveys
- Virtual Suggestion Boxes
- Team and individual check-ins
- Rapid pulse surveys
- Professional development tools
- Feedback and performance reporting tools
Employee engagement surveys can be a great tool to use for boosting engagement. Employee engagement surveys provide valuable data and information that comes directly from employees. This data helps employers know what their employees care about most. Employers can then use the feedback to create plans to address issues, concerns, or areas for improvement. As HCM systems continue to evolve, so do the features that can help boost employee engagement. Virtual suggestion boxes, team and individual check-ins, rapid pulse surveys, and professional development tools are among the many newer options to help keep employees engaged.
Keep it flexible
Employees today demand flexibility. Those who can adjust to their employee’s need for flexibility will gain an advantage in keeping employees. This demand makes an HCM solution with flexible features essential in today’s workplace. The most effective HCM platforms can adapt to changes in the workplace. There are many ways to optimize systems to accommodate employee needs as they change. Using simple scheduling, mobile self-service, and remote work tools are ways HCM can give employees the flexibility they want.
The right tools for the job
Certainly, no one wants to work in a role that takes jumping through several hoops to complete an easy task. Having the right technology in place can help automate these tasks. The right tools can lighten the workload while also empowering employees. There are many ways HCM can help equip employees with the right tools for the job. At Covalence, we’ve seen this work firsthand in our own clients’ organizations. In our recent webinar we held with UKG, Senior Covalence Consultant Reid Mclaughlin gives an example of how we make this happen.
How we set our client up for success:
- Our client noticed errors in their general ledger and needed our help to solve the problem.
- Covalence investigated and assessed their HCM system.
- Our team discovered that finance employees were making fixes to payroll manually.
- We located the cause of the errors within their Time system.
- The Covalence team optimized their Time system to automate the work.
- As a result, the employees were able to work more efficiently, and reduced error counts by 90%.
Community Culture
Many people have recently found themselves re-evaluating the meaning of their work. Often, it isn’t just about receiving a bigger paycheck. People also want to be a part of positive and inclusive company cultures. Employees are more productive and loyal to their team when they feel a sense of belonging and community. In particular, effective communication is important to help employees feel this sense of inclusion. Community broadcasts are an HCM tool that can improve communication within an organization. Broadcasts keep employees updated on what is currently happening within the company in real-time. Email and text messaging make it easier than ever to send information to an entire organization at once. Without a doubt, the pandemic created a greater need to send messaging and updates to employees quickly. These tools have been necessary for many companies to continue operating through the pandemic. As a result, employees felt a stronger sense of community within their organization.
Maintain a thriving workplace amidst the Great Resignation
There’s no question; the workplace has changed in the past few months. Employees are re-evaluating their needs and wants. Employers must shift to new processes if they’re going to avoid losing employees. Those that can use their HCM systems effectively will come out ahead. They will find themselves with satisfied employees and unaffected by the Great Resignation. Are you curious about the ways you can use technology to retain employees? We have the creative solutions you need. Reach out today at info@covalenceinc.com to learn more.