The economic downturn and recovery has arguably changed the way businesses operate forever. No longer are companies concerned with whether or not workers simply show up, complete tasks and earn a paycheck. There is now an expectation for employers to engage with their workforce on a new level, one that includes demonstrating proper recognition and providing employees with a more inviting and safer environment.
Incentive magazine received insight from a few industry leaders to get their opinions on how the workplace has changed and what companies need to do to keep pace.
The monumental loss of jobs not only forced companies to do more with less, but high turnover rates also changed the demographics of companies. When possible, companies traded in older, higher-earning employees for younger workers that are eager to establish their careers.
In many companies, high turnover rates left an assorted population of younger, more experienced and senior workers – all requiring different needs and levels of engagement. Nevertheless, there is one unifying theme for workers of all ages, Peter Hart, CEO of Rideau Recognition Solutions, wrote for Incentive.
"The Millennials, Gen Xers, and Baby Boomers all agree job security is the number one priority to them. Married men preferred opportunities that let them use their skills and abilities as their number one job satisfaction choice. Opportunities to use skills and abilities ranked as the third choice overall among employees," Hart stated.
Kevin Cronin, a vice president at Rideau, writes that employee safety programs are also vital to a company's culture as any recognition program. Cronin states that such programming should go beyond the basics, making a worker's safety – and the safety of his or her family – a priority. Vocalizing this as a priority during the recruiting process could also increase loyalty should that prospect become a hire.
These trends should be familiar to employers, especially on the heels of a survey by MarketTools released earlier this month. The market research company found that approximately 50 percent of employees have considered leaving their current position, while 21 percent said they have applied for another job in the last six months.
"A strong correlation exists between employee satisfaction, customer satisfaction, and ultimately, a company's revenue and profitability," said Justin Schuster, vice president of enterprise products at MarketTools, said in a statement.
