There’s no denying that the work world has changed. Gone is the generation of employees that stick to one job their entire professional lives, garnering loyalty awards every 5 years until the day they retire comfortably and with great pride that they served well. Today, the new normal has been about testing waters, constantly chasing greener pastures – job hopping.
In a study by Indeed.com, it was revealed that 91% of people are open to a new job if the opportunity arises or are actively seeking a new job. Surprisingly, this behavior doesn’t change once they’ve been hired at their new job. In fact, 65% of people resume to actively searching for new opportunities within 91 days after their start dates.
Is there something the organization could have done to keep them from leaving or considering other opportunities? Who is to blame – the employer or the employee?
What if organizations changed the dynamic by updating their leadership models? To start, change the way employees are compensated by creating an incentive structure that is collective rather than individual. When team members know they will be rewarded as a team, they start to work as a team. They recognize individual strengths and weaknesses and fill the gaps in order to attain a mutual goal.
According to the Harvard Business Review article, Keep Employees from Leaving by Emphasizing Teamwork:
“Emphasizing That Entrepreneurial Innovation is a Team Effort. Instead of laying out a vision for others to follow, those at the top should create contexts in which others can and do set the direction. This must be reinforced with practical changes in the way people are compensated—that is, collective, rather than individual, incentives.”
Create a company culture that values tenure and rewards long-term employment. Switch the focus on the team rather than the individual by engaging them as a team. Instill in them a sense of community and foster collaboration.
When you ensure that everyone is pulling in the same direction and share the same long-term vision, they are less likely to want to leave the organization. To accomplish this, employers need to connect and create a deeper level of employee engagement.
And once the entire team is connected to the organization’s overall purpose and mission, they feel personally invested, take greater pride in their work and enjoy work satisfaction.
Encourage your employees to participate in team building activities and help strengthen their bonds to promote camaraderie. This includes strategy session outside of the office and inviting motivational speakers that will enliven team spirit. Engage in strategy-based team building games that force your employees to think outside the box and use their innate strengths that aren’t always exemplified in the workplace.