We’ve all heard about the importance of employee morale, but is keeping employees genuinely happy worth the extra time, money and effort?
What Does the Data Say?
Access Perks, an employee discount company, recently released a report on employee morale, engagement and retention. According to employee survey data, 26 percent of employees said feeling undervalued is the biggest obstacle to engagement, while those who feel undervalued are twice as likely to say they are looking to quit in the next 12 months.
The report highlighted the importance of management not only being open to feedback but also acting on it. Ninety percent of employees surveyed said they would be more loyal to a company that readily accepts and uses worker feedback. Unfortunately, 44 percent of employees said their company is terrible when it comes to acting on feedback and plan to look for employment elsewhere, while 28 percent of those surveyed said their employer is fantastic when it comes to acting on feedback.
The report also broke down employee loyalty based on age. An overwhelming majority of the youngest group of employees, 18– to 20-year–olds, said they were either looking for a new job in 2020 or we’re unsure about staying with their current employer. Slightly more than one-third of surveyed employees in their 30s and 40s said they planned to look for a new job this year and one-third said they were undecided.
Low Morale Employees are Leaving
The data presented by Access Perks also showed almost all low-morale employees are looking for a new job. Only 6 percent of low-morale employees said they weren’t looking for a new job.
These workers are also much more likely to think about quitting than those with high morale. The data showed low morale employees think about quitting twice as often as satisfied employees. On average, respondents said they think about quitting their job three days out of the month, and they dread going to work an average of 4 days a month.
The data also showed a connection between morale and personal connections. Almost three-fourths of those surveyed send they would be more likely to quit their job if their best friend at work left the company.
Employee Experience is Key to Morale
The data also showed how important employee experience is to morale. In fact, 94 percent of those surveyed by LinkedIn set employee experience is essential to recruiting and HR. It appears that HR professionals have an understanding of this. Those surveyed said they use employee experience to boost retention, sustain productivity, retain younger workers and attract candidates. HR professionals who were surveyed said the keys to providing a good employee experience is having enough staff time and resources dedicated to it.
We Can Boost Morale at Your Organization
At Cornerstone, we support employee morale through custom talent solutions and services. Please contact us today to find out how we can keep your staff happy and productive.