Creating a Workplace of Happy Employees
With more than 600 million users, LinkedIn is a valuable resource for information about many aspects of employment in a wide range of industries. A recent LinkedIn study provides insights into a very important aspect of employee retention: happy employees.
Productivity and employee retention are two of the top concerns for employers. Coincidentally, happy employees are found to go above and beyond what is expected of them at work and they are far more likely to stay with the company for an extended time. The report from LinkedIn indicates that happy employees get that way by working for a company where the leaders focus on treating them well and thoughtfully.
Quality Management Matters
LinkedIn’s report outlines the importance of managers who are great communicators and truly care about their employees. “People don’t quit their jobs, they quit their managers,” the report reads. Companies that have “open and effective management” see notably higher retention rates. The data shows that after three years, the retention rate between employees who rate their managers as effective is 14% higher than those who give their managers a low rating.
Happy employees are often ones that move around to different positions and experience new tasks that challenge them and educate them on a wider range of topics. This is in line with many workplace preferences that employees have, including the need to continue their education and advance in their careers.
Promotions also are key to employee satisfaction. The report found that retention rates improved dramatically when an employee was promoted within three years of being hired.
Empower Your Employees
It’s human nature to crave empowerment and feeling a sense of control. In some cases (think air travel), the lack of control can lead to a panic attack. In the workplace, this lack of control may or may not produce feelings of panic, but it will most likely produce a situation where key employees seek out employment with a company that puts them in positions that control outcomes.
LinkedIn’s study found that empowered people are more likely to remain at the company. After three years, empowered employees are remaining at their jobs at a rate of 12% higher than those who don’t feel empowered.
The right approach to talent optimization can help you achieve many goals, including improving the happiness rating within your employees. At PI Consulting Group, our talent optimization solutions help our customers measure their people data, analyze the data and help you create a more evolved strategy to manage your teams. Contact us and let’s talk about how you can have a more self-aware and healthier workplace.