The specter of the Great Resignation continues to haunt most companies around the country, as droves and droves of employees are resigning to pursue other opportunities. With the workforce in so much flux, many businesses—especially small proprietorships—are rightly concerned about losing their best employees and having to deal with a possible revolving door of new people who don’t stay around long enough to actually get trained well. Some business models have thrived off this pattern, especially in the world of fast food where training isn’t often as in-depth compared to, say, a full-service restaurant. Whether through the machinations of pandemic and the resulting impact on the economy it caused, the fact remains that the workforce is unstable, and this is good for no one.
More Than Money
At The Brandt Group, we’ve long advocated for employers to forge long-lasting relationships with their employees in the effort to avoid that revolving door, well before the Great Resignation began. We’ve always maintained that a consistent staff reflects well on the employees’ job satisfaction and is much more likely to result in a loyal customer-base. Familiar faces mean a lot to your repeat business. That means there is institutional memory.
But what can any of us do in the face of such an overwhelming force as this Great Resignation? We’ve seen many of the large-chain retailers and restaurants significantly boost their wages in an effort to attract new employees (and hopefully hold onto them), but there’s a fundamental problem that results: employees who are only loyal to their paycheck will always follow the next biggest one, meaning there’s a high probability they’ll jump ship the next time someone offers more. That’s not to say that competitive wages or great benefits aren’t important—you can’t skimp on those details—but there’s more to it.
As Shep Hyken cautions in his recent article on Forbes, “if you want to keep employees, especially your best employees, realize it’s not just about the money.” Continuing, he adds, “if employees get burned out, they will sacrifice a few dollars in exchange for getting some of their life back.” Employees, it seems, need a reason for working at your business even beyond the paycheck.
Something More
Even in the face of stressful work and long hours, there are many employees put up with those pressures because they love the company they work for. Yes, they love it as much or more even than the pay. Hyken cites Glassdoor’s annual list of the best places to work to pinpoint why this is: “Often, the reason is company culture.”
Hyken further explains, “according to the Glassdoor article, highly ranked companies have ‘…strong culture and values as well as a positive and supportive work environment. Some retailers were commended for competitive pay, flexible scheduling and opportunities for advancement.” Indeed, working jobs that offer some kind of meaning or at least provide a positive environment have the strongest advantages. Truth is, there are many Americans who are pursuing lower paying jobs because it may mean they are “having a better life.” Consider that for a moment. It’s important that we all reflect on the truism that there’s more to life than how much is in the bank account.
Hyken encourages us to check out the Glassdoor list and follow up on the reviews that employees leave about the companies they work for. You’ll find good and bad, and there’s a lot to be learned from the successes and failures of others. In one example, Hyken quotes a review that says, “The work is challenging and meaningful. Compensation and benefits are great, and I love my coworkers.” For another, he quotes this: “The company works remarkably hard to create an inclusive community where every single person is able to bring their whole, best self…”
A common refrain is a supportive community within the job, where there’s almost a sense of family there. For a business that manages to sow the seeds of a great work culture, it reaps the rewards of long-term employee loyalty and high productivity. Remember, content employees work well together, and they work efficiently—all to the delight of both management and customers.
So where to begin? Figuring this whole company culture thing can be a challenge. Many businesses start with a mission statement, a unified vision that encapsulates the very raison d’etre for them. As you browse through the many famous ones out there, you’ll note that the best visions don’t talk about generating the most profit or providing the highest compensation: those rewards are the natural residue of cultural success. Those visions talk about creating a great environment for both employees and customers where the products and services the business provides are actually making their communities a better place in some way.
To get started on building the best culture for your business, drop us a line on our contact page. We’d love to hear from you about what policies are really succeeding in your work environment, and which are not. Also, we have a myriad of tools available for gauging your employees’ job satisfaction and overall sense of team loyalty, as well as measuring how well their job performance impacts the overall customer experience. By getting the company culture right, we can work together to ensure your business avoids the pitfalls of the Great Resignation and doesn’t have to endure the revolving door temporary employees. In the end, you as the business owner or manager will also derive a greater sense of satisfaction from your business. You’ll get more satisfaction from enhanced profits, of course, but even more than that, you’ll derive a sense of purpose by fostering a happy, healthy, and productive work environment that really does make the community around it better for its existence. So, what are you waiting for?
