The topics of people retention and keeping them satisfied have never been hotter and at Frankli we want to share how performance management systems can help your business retain its key team members. If you pay attention to what the recruitment sector is saying right now, you may well have heard reference to ‘The Big Resignation’. This theory suggests we’re facing a massive rise in resignation levels now and over the coming months as many people say a blunt ‘no’ to return to the previous status.
The fear is that not all companies will have the foresight or the agility to accommodate a new breed of digital working or hybrid working, and in such cases, they are potentially facing a tsunami of resignations as workers look to get what they want or need elsewhere.
The prospect is not all gloomy, however. The corollary of this is that forward-thinking companies will not only retain their best people – but also be in a position to recruit the best of talent affected by The Big Resignation.
Even better news is that having an engaging performance management system such as Frankli as part of your retention strategy can insure you against the worst ravages of mass resignation and retaining employees. Here’s how:
Flexibility is Key.
If you talk to certain people from a wide range of office-based sectors, there seems to be broad unanimity that they’ve enjoyed certain elements of the work-life balance that working from home offers. Saying goodbye to commuting, for example, or making their own working hours during the day, which let them do such important things as picking up the kids from school and helping with homework – before returning to the desk for a few hours later in the evening. Having a performance management system in place means that employers can easily stay on top of individual team member relationships – no matter where they may be physically based.
Honest communication is easier than ever.
If we’re honest, nobody can be certain what the next twelve months hold – other than the fact that we seem to be in for a period of extraordinary volatility. For companies using the Frankli performance management system, it’s really easy to ensure regular and open conversations are taking place between managers and employees, staying on top of how they’re adjusting to the new normal, and taking any remedial action that may be needed at the earliest possible stage.
The isolation effect can be well and truly combatted.
If you talk to freelancers who are old hands at the working from home model, they’ll often confess to a sense of solitary burnout – a feeling that they’re missing out on the countless social interactions that make up office life. The communication power of a performance management system means that digital workers can be easily included in everything that’s going on in the Head Office. Furthermore, you can create a contact that is specifically developed for those primarily working from home – making sure that they lose out on none of the chatter, the gossip and the banter from the office, but also letting them know that they’re not being overlooked in any way when it comes to promotion, training, development etc.
Your recruitment reputation can soar.
People talk – especially people who are potentially in the market for a change of role. And when they talk about potential employers, the main topic of conversation usually revolves around just one question – what are they like to work for?
People who adopt formal performance management systems are much more likely to score higher in terms of employee engagement, clear communication about career paths, and a positive and empowering culture. Who wouldn’t prefer to work for a company that treats its people as the most important stakeholder in the room, and that puts individual success on a par with corporate success?
We may not be able to precisely predict the shape of the workplace in the future, but human nature will not change – and nor will the need of employees to feel valued, supported and cherished. Think about this when considering implementing a formal performance management system.
Interested in retaining your People?
For further information on how Frankli can help you avoid “The Big Resignation”, feel free to get in touch here.