The best solution is, of course, high retention. If nobody leaves, then you won\u2019t have to replace them.<\/p>\n
One approach for medium-large organizations is investing in HR engagement strategies \u2014 essentially, working to understand employee needs and wants, then implementing activities, benefits, or initiatives that improve their experience.<\/p>\n
The problem is that companies miss the mark. They deliver initiatives that no one wants, or benefits that most employees don\u2019t value.<\/p>\n Data analytics<\/a> is a game changer. It allows HR teams to dive deeper and more accurately understand their employees. It makes creating genuinely value-adding retention strategies feasible.<\/p>\n Let\u2019s take a dive into what\u2019s missing from traditional HR engagement, how to implement a data-led approach, and the feasibility of personalized work benefits.<\/p>\n The idea of using engagement to increase retention isn\u2019t new. In one form or another, it’s been around for decades. The big ideas are usually:<\/p>\n And with the notable exception of \u201cemployee of the month\u201d (an objectively destructive honor), these have apparently obvious appeal. So, why don\u2019t they work at retaining employees?<\/p>\n The data is not fully representative<\/strong><\/p>\n The vast majority of initiatives have been built from annual employee surveys<\/a>. They asked questions like:<\/p>\n On the surface, these are valuable, but they lack depth or follow-up. They also don\u2019t account for the seasonal or day-to-day fluctuations in employees\u2019 attitudes or circumstances.<\/p>\n Traditional surveys also tend to skew unreasonably positive \u2014 employees don\u2019t trust anonymity and won\u2019t risk bad mouthing peers or bosses. Modern (anonymous) surveys combined with data analytics get far more authentic, reliable insights.<\/p>\n The benefits are too generic<\/strong><\/p>\n The bigger the company, the more diverse its employees. Catch-all engagement methods do help some people, but they don\u2019t capture needs or challenges at the department, team, or individual level, and so they aren\u2019t actually engaging most employees.<\/p>\n Think about it:<\/p>\n When we add in the fact that generational differences are now vast and more complex than ever before, employers simply can\u2019t apply blanket benefits that will please everyone.<\/p>\n So what can companies do? Is it even possible to understand specific employee needs and cater to them? As it turns out \u2014 yes.<\/p>\n Assuming organizations use a powerful modern survey tool<\/a>, data analytics can dramatically improve HR engagement strategies. Data creates a deeper understanding of employee needs and preferences, allowing them to take more targeted and effective approaches.<\/p>\n Rather than asking questions once a year, companies can send regular pulse surveys<\/a>. These surveys harvest current data, letting us identify seasonal differences and<\/em> track engagement progress over time.<\/p>\n Data gathering also extends far beyond surveys and can include:<\/p>\n Dissecting data and generating insights<\/strong><\/p>\n Armed with superior data, the machines can also perform deeper analysis than us humans \u2014 and in much less time. Data processing lets organizations:<\/p>\n And, of course, all of this happens exponentially faster than manually issuing a survey, collecting the answers, interpreting the results, and constructing initiatives.<\/p>\n This allows HR teams to identify granular benefits and initiatives that massively appeal to subsets of employees. But are personalized, nontraditional benefits actually practical?<\/p>\n 91% of employees<\/a> believe nontraditional benefits \u2014 derived from data-led engagement processes \u2014 increase their happiness and job satisfaction.<\/p>\n But can organizations actually implement this?<\/p>\n The employee handbook at Patagonia is called \u201cLet My People Go Surfing.\u201d The company recruits those whose values and interests align with the brand \u2014 outdoorsy, planet-loving people. Therefore, the company created nontraditional benefits (such as ad hoc work breaks for surfing<\/a>) that were tailored to their exact needs.<\/p>\n Airbnb knows that it attracts employees with a certain wanderlust. Perhaps it\u2019s obvious, but granting employees an annual travel budget<\/a> on top of their salary and traditional perks has been well received by staff.<\/p>\n The eCommerce giant Etsy does something similar. Realizing many employees feel the same creative urges as its clients, the company started offering \u201csabbaticals\u201d \u2014 six weeks of paid time off<\/a> simply to pursue creative projects.<\/p>\n The reality is that traditional \u201ccatch-all\u201d benefits are no longer enough to secure retention. Perhaps they never were. But by adopting a data-driven approach, companies can generate real employee insights and create powerful initiatives to increase their satisfaction, loyalty and happiness.<\/p>\n Some initiatives will be specific company-wide policies (such as Patagonia\u2019s surf time), while others will be more granular \u2014 such as extended time off for new parents, or the ability to buy extra vacation days for the travel-hungry.<\/p>\n Unconventional ideas should be encouraged. As new generations demand more flexibility and choice, organizations will have to think further outside the box to provide it.<\/p>\n And if they can, everybody is going to win.<\/p>\n At Sogolytics, we appreciate the power of modern surveys and data analytics in improving employee engagement<\/a> and retention. Our tools are designed to level-up your engagement and make your employees happier, more fulfilled, and more loyal than ever. Reach out today and see how we can help you master HR engagement<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Replacing employees is expensive. For skilled salaried workers, the candidate search can take months, and the impact on productivity alone can be ruinous. The best solution is, of course, high retention. If nobody leaves, then you won\u2019t have to replace them. One approach for medium-large organizations is investing in HR engagement strategies \u2014 essentially, working to understand employee needs and wants, then implementing activities, benefits, or initiatives that improve their experience. The problem is that companies miss the mark. They deliver initiatives that no one wants, or benefits that most employees don\u2019t value. Data analytics is a game changer. It allows HR teams to dive deeper and more accurately understand their employees. It makes creating genuinely value-adding retention strategies feasible. Let\u2019s take a dive into what\u2019s missing from traditional HR engagement, how to implement a data-led approach, and the feasibility of personalized work benefits. Traditional HR engagement methods are limited The idea of using engagement to increase retention isn\u2019t new. In one form or another, it’s been around for decades. The big ideas are usually: Company-wide events like holiday parties or team-building days\/retreats Recognition programs like \u201cEmployee of the Month\u201d Wellness initiatives like gym memberships or free snacks\/coffee Healthcare, retirement, or vacation benefits And with the notable exception of \u201cemployee of the month\u201d (an objectively destructive honor), these have apparently obvious appeal. So, why don\u2019t they work at retaining employees? The data is not fully representative The vast majority of initiatives have been built from annual employee surveys. They asked […]<\/p>\n","protected":false},"author":26,"featured_media":5038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,156],"tags":[921,480,164,241,423,168,455,408,382],"yoast_head":"\n![\"\"](\"https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2023\/02\/naassom-azevedo-Q_Sei-TqSlc-unsplash-scaled.jpg\")
<\/a><\/p>\nTraditional HR engagement methods are limited<\/h2>\n
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The game-changing role of data analytics<\/h2>\n
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Making personalized benefits work in practice<\/h2>\n
Taking a data-driven approach to retention<\/h2>\n