With 2023 drawing to a close, it is a time where many people choose to take stock, evaluate their year and weigh up their options for the next one. 2023 has been a year of challenges both at an organisational and individual level.
Approximately a third of employees have been found to leave their organisations each year, and 41% of organisations have reported having ‘hard to fill’ roles still vacant (CIPD, 2023). According to recent PWC research (PWC, 2023) nearly a quarter of employees in the UK are planning to leave their current roles within the next year, with a fifth feeling unsatisfied with their current role.
It is more important than ever to ensure for organisations to retain and recruit skilled staff. Organisations need to listen to their employees and understand their needs, to make sure that they remain engaged, and that organisations can retain top talent. So, what can WeThrive do to help improve staff retention?
#1 Identify areas of frustration/concern
It is important to recognise whether there are particular reasons employees may be considering leaving. Are they feeling undervalued, or like they don’t have the resources they need to succeed at work? If whole groups of people are struggling, this may indicate the presence of a wider issue that needs to be investigated.
WeThrive allows you to use heat maps to pinpoint groups of people who may be at risk of leaving, whether that be due to poor wellbeing, not feeling valued, or not feeling that their work is meaningful. Being able to see immediate hotspots where employees are struggling will allow you to take immediate and decisive steps to resolve issues before they escalate.
#2 Empowering managers
An important step in reducing employee turnover is to empower managers with the tools and resources to create a psychologically safe environment where their team members can thrive.
WeThrive allows managers to take charge of employee engagement within their teams, providing them with detailed results, personalised recommendations and action plans so they know what they can do to tackle areas of concern.
#3 Quality conversations
Employees and managers need a collaborative space to have regular discussions, where they can focus on the quality of the conversation instead of the admin and paperwork that may be synonymous to such processes.
The 1:1 Intelligenda feature gives managers a place to create meaningful 1:1 meeting agendas for their employees, and employees can also request 1:1s with their managers at any time.
In order for holistic discussions to be happening across your organisation, it is key that both managers and employees contribute to the meeting agenda, including any recent results, goals or talking points they would like to discuss with the other party.
#4 Identifying risks early
To improve employee retention, you first need to understand who is at risk of leaving and why this might be.
WeThrive’s ‘talent snapshot’ provides an immediate overview of employees who deserve recognition based on their performance, as well as those who may be at risk of leaving.
Managers can give private feedback about employees at the end of a 1:1, answering 7 key questions such as, whether an employee should be considered for a promotion, left in their current role, or if they are considering leaving.
With the ability to view which employees fit into a particular risk or recognition category, employees can easily be identified as being at risk, or in need of recognition and reward for going above and beyond in their role.
#5 Promoting proactivity
Encourage employees to take a pro-active role in their own engagement and wellbeing by providing them with the tools, resources and communication channels to do so. Everyone in the workplace contributes to creating a safe, positive work environment, not just the managers. Help employees take action by providing useful guidance and support.
Employees can log into WeThrive at any time to complete engagement or mental health surveys, and receive immediate results, action plans and resources based on their results.
What does a WeThrive survey look like? You can try it out right now here.
The action plans can be used to create personal goals using the recommendations provided, allowing them to keep track of aspects of their engagement/ wellbeing areas, promoting proactivity and providing them with immediate actions that they can implement.
WeThrive offers a powerful framework by which you can empower managers, take proactive steps to improving employee engagement, and lessen the effects of employee turnover in your organisation today.
Want to learn more…
Why not book a live demo with one of the team?
