Your organization’s ability to achieve goals depends on its biggest stakeholders—the employees. Happy, engaged, and productive employees can steer your company toward success.
But how can you steer them toward long-term employee success?
What employee success means can vary from company to company. For many, it’s related to the customer success rate and how to provide the best possible employee experience at all stages of the process. For others, it’s the actions and initiatives that allow the employee to give their best effort.
You can define what employee success means for your company, but irrespective of a concrete definition, we can all agree that employee success is essential for a prosperous business.
So, here are six practical ways you can enable long-term employee success for your company:
1. Employee Success Starts with Recruitment
Simply hiring the right people can make a world of difference in your employee’s success effort. From the application process to the screening, choose candidates who have the right skills and will be a good culture fit through the hiring process.
Also, invest in designing a great onboarding experience because about 33% of new hires look for new opportunities within their first six-month.
Design a measurable program tailored to employees’ specific skill sets (i.e., different orientations for software developers and sales reps) and set clear objectives. The aim is to help them acquire the necessary skills and make them feel ready for the role.
2. Invest in Building a Learning Culture
Losing employees due to low learning opportunities is the worst employee turnover you can incur. Ensure this doesn’t happen with you by providing ample internal training, upskilling, and competency-based development options.
Pairing new and existing employees with in-house mentors is another excellent way to extend the L&D program, especially in remote workplaces.
By doing this, you build an organizational learning culture while also training your staff to be better assets to the company. Plus, the strategy is popular with curious and motivated employees—the same team you need for happy customers and high profits.
3. Offer Better Employee Compensation
Remember “The Great Resignation” when a record 4.5 million U.S. workers left their jobs? Well, research shows that compensation was and still is a key reason employees quit or change jobs.
So if you want to ensure long-term employee success and keep your best talent, you must provide them with better compensation, including salaries and benefits.
Employ reasonable compensation of the base pay, bonuses, overtime, and paid time off. Assess your company’s competitive advantage, research the ideal compensation packages in the current talent market, and create compensation ranges that keep your employees happy.
4. Focus on Employee Engagement
Companies with hyper-engaged workforces are 17% more productive and 21% more profitable. Plus, these engaged employees help reduce staff turnover, build better work culture, and retain top talents in the organization.
But building a community of engaged employees needs some work. Here are a few ways you can achieve it:
- Encourage open communication and conversation
- Leverage employee engagement training programs
- Let them share their positive working experience with customers, partners, prospects, and future hires
- Keep them informed about new launches, competitors, and other company updates.
5. Recognize and Celebrate Employees’ Contributions
A 2022 Gallup survey found that employees are 56% less likely to look for new opportunities when they feel recognized for their work. That’s why companies that encourage a strong culture of recognition thrive.
Take the time to recognize your employee’s contributions. You can also offer division or company-wide recognition to workers who always go the extra mile. This is especially important for employee success today, with quiet and loud quitting becoming popular with GenZ.
Also, consider how you’ll define the outcomes of DEIB meaning – Diversity, Equity, Inclusion, and Belonging – for your organization and incorporate those outcomes into your recognition initiatives. Along with reinforcing your commitment to empowering diversity and inclusivity in the workforce, it will provide a clear framework that motivates employees to perform better.
6. Consistently Analyze Performance Metrics
Recognizing gaps in the current workflow is the key to addressing and improving employee performance and success. Performance metrics help you spot this gap right away.
Using performance metrics, you get a reflection of how well your employees are doing. They also help set measurable goals and gauge the company’s performance.
Analyzing quantity, quality, effectiveness, teamwork, and learning and development are great places to start performance tracking. You can also include employees in planning and share the metrics frequency to make a better impact.
Long-Term Employee Success: The Way Forward
When it comes to ensuring your employees’ long-term success, there are innumerable factors at play. It’s not just limited to compensation or work culture. Even things that ensure every day convenience and sense of security can go a long way. For example, utilizing an access control solution in the office such as a touchless keycard system can promote a sense of belonging and security.
So don’t tire yourself of focusing on every minuscule element. Your being at the end of the blog shows you are already a long way ahead in ensuring your employees’ success—because you care.
Start by putting all the strategies you just learned into action, create a growth environment for your employees, and see them succeed.