In an economic environment of heightened cost pressure, retaining employees can become a significant challenge for companies. While salary increases remain one of the most direct ways to incentivise staff to stay, other strategies exist that can strengthen employee commitment without expanding the payroll.
According to Stephan Meier, professor of business strategy at Columbia Business School, companies should treat their workers in a manner similar to how they treat customers: understanding what they value and adapting the professional experience to meet their needs.
The expert identifies four factors that can influence whether employees choose to remain with an organisation: purpose, autonomy, competence, and a sense of belonging.
Ask employees what they value
Before implementing new measures, companies should seek to understand what genuinely matters to their workforce. Exit interviews can help identify the reasons employees leave an organisation, but so-called stay interviews make it possible to act before the decision to leave has been made.
These conversations should aim to uncover what might lead particular employees to remain with the company for longer. While compensation may feature among the responses, factors such as respect, recognition, responsibility, and development opportunities can also carry significant weight.
Reinforce the purpose of work
Employees tend to value roles that allow them to understand the impact of their work. Companies should therefore help staff grasp how their tasks contribute to the organisation’s objectives and to the lives of clients or the broader community.
Conversely, tasks that are overly efficiency-driven but insufficiently stimulating can reduce engagement. Work that is challenging and meaningful can help increase motivation and commitment to the organisation.
Build an environment of autonomy and trust
Trust between managers and employees is another important element. Rather than relying excessively on monitoring mechanisms, companies can grant greater autonomy in how tasks are carried out, wherever the nature of the role allows.
Flexibility is equally valued. In-person, remote, or hybrid working models can be adopted according to the characteristics of each role. According to experts, this flexibility can facilitate a better balance between professional and personal life and, in certain cases, contribute to productivity.
At the same time, contact with colleagues continues to play an important role, as the sense of belonging to a team can reinforce an employee’s commitment to the organisation.
Invest in professional development
Offering learning and career progression opportunities is another way to strengthen retention. Employees tend to value organisations that enable them to acquire new skills, take on greater responsibilities, and envision possibilities for professional growth.
Training can therefore represent an investment with returns for both parties: the employee develops competencies while the company benefits from better-prepared professionals.
In a period of cost containment, these measures can help organisations improve working conditions without relying exclusively on salary increases. The starting point, however, remains the same: understanding what employees truly value.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=545792
