I’ve shared my thoughts about the importance of emotional compensation several times on the blog this year. It’s one of the strategies firms can use to create an environment where employees truly want to be – an essential asset during the “Great Resignation.”
I am excited to announce that I am speaking at The Kevin Eikenberry Group’s virtual event, Virtual LeaderCon. This is a free online event that brings together me and 30 of the world’s top leadership experts talking about the most pressing and emerging leadership and learning topics.
I recently had the pleasure of being interviewed again by Pat Farnack, longtime radio host on WCBS Newsradio 880 in New York City.
In the middle of the “Great Resignation,” companies are struggling to attract and retain employees. Studies show that negative emotions in the workplace have been rising. These negative emotions make people less enthusiastic about returning to work and incentivized to seek a more positive experience elsewhere. In our conversation, Pat and I discussed strategies that organizations can use to create a more positive culture that connects and ultimately retains employees.
As a growing percentage of the workforce seeks new career opportunities, employee retention has become a major issue facing organizations today. Addressing financial compensation is important, particularly for those lower income workers whose wages have remained largely stagnant, but addressing emotional compensation is another component all organizations need to consider.
The current labor shortage and employee retention are concerning issues for organizations. Many leaders are scrambling to attract and retain the workers they need. A combination of factors has resulted in an insufficient number of workers to meet available jobs: job quits hitting historic highs, declining immigration, and fewer individuals who are of working age (16-64 years old). This labor shortage started before the Covid-19 pandemic and is expected to persist for some time.
Are you and your team preparing to return to the office after more than a year of remote work?
Recently, I had the opportunity to be interviewed by the talented team at IE Insights, IE University’s thought leadership publication for sharing knowledge on a variety of topics. I shared some insights on what managers can expect from employees based on the similar experiences NASA astronauts encounter when re-entering society after time in space.
Check out the approximately 5 minute video for a quick summary of what to watch for and how building a connection culture can ease the transition.
As the world opens up again following COVID-19 pandemic lockdowns, employers that were previously accustomed to a steady hum of activity in the cubicles and corridors must decide if they are going to bring people back into the office full-time, continue to allow them to work remotely, or come up with a hybrid arrangement that provides for a mix of in-office and remote work. A positive way to view this decision is that it provides a fresh start, an opportunity to strengthen the relational subcultures throughout your organization.