There was another concept to emerge called, ‘quiet quitting’ i.e. when you choose to not let work affect you or stress you out and have basically, quit mentally. As per Gallup, more than half of employees (59%) are quiet quitting. There’s no motivation to go above and beyond and people are just doing the bare minimum. Yet another to take the stage was ‘act your wage’ i.e. to just do enough as you’re paid, not to get the job done, linked directly to lack of job satisfaction. As per The Gallup Global Workplace Report 2024, 86% of Indian employees are either ‘struggling’ or ‘suffering’ in their current roles.
What can the HR leaders do?
If you’re facing a mounting attrition rate or are looking to avoid them, the first step is to acknowledge that we might need to relook at the basic tenets of organization’s core principles. Businesses and brands must become more human, competitors become collaborators and ‘resource’ becomes ‘talent.’
- Offer flexibility in the form of working
As per a survey by Kaizen Market Research, 58% of Indian tech talent prefer remote work opportunity even at a lesser salary. It’s true that creativity can’t be turned on at will, so offering your employees flexible hours and an option work remotely might encourage them to find their most efficient and productive working environment. And while it’s beneficial for employees, it also opens myriads of opportunities for HR professionals to find the most relevant talent pool irrespective of their geographical location.
- Employee Recognition and Rewards
As per a statistic quoted in the Vantage Circle, 81.9% of employees agree that recognition for their contributions improves their engagement. When employees feel valued for their efforts, and are recognized for their contributions, it boosts their morale and harbours more positive productivity. Managers and leaders must be trained to appreciate their hardworking team and celebrate their wins. HR leaders can also employee AI tools for regular reminders on the best performing teams so there can be rewarded and in turn helps them in imbibing a culture of appreciation. Rewarding could involve both social recognition or monetary rewards. These could be in the form of direct cash, gift cards, perks etc. Further, make sure to appreciate them for their efforts even when the project might not have been as successful as the target.
- Employee Burnout AND BORE-OUT
No employee will shout this out, it falls upon the managers and team leaders to identify the signs. Complacency, no willingness to take on responsibilities, procrastination, disconnection and pretend busyness are some of those! What can help mitigate this?
- Be creative in listening to their concerns. Check review sites, hiring portals, see what they’re sharing about their time on social media etc.
- Yes, remote working works for some but a study had also revealed that 21% of respondents cited loneliness as their primary challenge while working remotely. Encourage regular video calls, a hybrid work environment, forming resource groups with people of common interests and promote healthy discussions
- Address their concerns head-on instead of steering from them. Leaders must continuously assess employees’ daily tasks, help them prioritize and let them choose how they might be the most productive
- Open communication
Most often than not, employees don’t get enough opportunity to voice their concerns, or they know they might be judged – in turn making their time hostile. It’s important to employ proper feedback mechanisms, open portals and ensure that there’s active listening instead of one-sided expression.
This is important now more than ever when diversity and inclusion has become a pertinent pillar to build a healthy workplace. Educating and empowering the staff and resources to foster a sense of respect for all is imperative but having a proper platform for people to express their grievances is a necessity so to build an equitable environment. Defending the company will NOT do any good, it’s about addressing that the company is by its people.
Two-Factor Theory
There is an American psychologist Frederick Herzberg who coined his most famous theory named, ‘Motivator-Hygiene’ also known as the ‘two-factor’ theory. What it means is that job satisfaction and dissatisfaction exist in two mutually exclusive ways at the workplace, each with its own set of factors.
As per Herzberg, hygiene factors are essential for enabling motivation in the workplace since they satisfy the basic physiological needs for every employee. These could be aspects like salary, job security, positive work relationships, and favourable working conditions. Without these foundational hygiene factors, employees cannot achieve satisfaction, and no level of motivating factors will keep them at the company.
In contrast, motivating factors are related to the job's inherent conditions. These factors drive employees to perform better and increase their commitment to the company and their roles. They encompass opportunities for growth, professional development or advancement, recognition, increased responsibility, and more.
In nutshell, the retention strategies and suggestions are not the end all, they’re all effective per the uniqueness of businesses. But what matters essentially for HR leaders to keep in mind while considering retention strategies are fair compensations, offering job perks, optimal wellness options, harbouring a growth mindset, encourage professional development. Basically, drawing the organization strategy by keeping its people in the centre. What’s essential to realize that keeping employees satiated and positive is not just an HR policy but a business outcome that will only lead to growth.
