January 29, 2018
Companies and employers have long understood that keeping their employees happy translates to employees who are increasingly engaged in productive. In short, it helps make their company more profitable to have employee morale at a high instead of a low.
The real question that every company is asking themselves is: What makes my employees happy.
The answer is not just a few short words or even an answer that can be given in a few sentences. Different things will make different employees happy, however, one trend that you can be sure of is that the cultures and trends that keep employees satisfied change over time just as people's priorities change with each passing generation.
Some of the following are some of the workplace trends that you can't ignore as they continue to grow moving into 2018:
- Provide Continuous Performance Feedback and Reviews: It used to be that an "employee review" was done once per year and that was that. You would come see your boss and be evaluated. Needless to say this left many employees slapped in the face with reality when they haven't performed as well as they may have liked to think they did. Today, continuous feedback is more of the culture many businesses are taking up. Being told throughout the year if performance is lagging can help employees take responsibility for their work to help them "right the ship" before things go too far astray. Surveys done on Generation Z and Millennial1aged workerssay that they BY FAR prefer consistent reviews than an annual one as they state:
- 19% want feedback daily
- 24% want feedback weekly
- 23% want feedback regularly (at least monthly)
- Generation Z Joins the Workforce: Many rifts are hitting the professional world as of 2017 when the first Generation Z workers (1998 birth year and after) join the workforce.2 Many Millennial generation workers are learning that hard way that Generation Z are not just all lazy excuse-makers that don't do anything productive. Teaching the Generation Z to get along with the Millennial generation and teaching the Millennial generation to respect and work with their younger Generation Z counterparts is proving a challenge to some companies. Yet, it's vital to ensure that everyone works together to help ensure that the company remains productive and employees work to their potential. Integrating cultures of these generations may not be easy, but it will have to be done for companies to maintain their "competitive edge" over other companies in their field.
- Augmented & Virtual Realities Are Changing Employee Training Programs: Companies are quickly finding that Millennial and Generation Z-aged workers who grew up with technology in their daily lives often learn better when being engaged through technology rather than through lectures or printed books. Virtual reality revenue grossed about $8 billion in 2017 and that number is set to grow moving into the future. Engaging employees through computer modules or other electronic means will help your younger workers learn and retain more information you want them to remember in order to help them do their jobs better.
- Employees Stay with a Company For Shorter Periods of Time: Younger workers are long over the days of having a 30+-year career with the same company. Forbes.com's survey found that at the average employee will only stay with a company for 4.6 years no matter what age they happen to be. Employees do not see companies as something they have to commit to forever, and are not afraid to go to a different position, job, or company if that company will treat them better than the one they are currently working with. Companies must do more to make employees feel valued. Companies are also finding that they must be more focused on company values and what they stand for rather than just pay scales in order to retain employees long-term.
- Companies Are Creative With Employee Benefits: Many companies are offering far more than just signing bonuses to employees who are willing to sign on with the company for a predefined contract. Benefits range from credits for meals during the work week to help paying back student loans. The benefits of just letting employees know they are appreciated, no matter how small the gesture, can go a long way in improving employee performance and morale, which means the company gets more back from their employees in return.
These are just a few trends that companies are seeing changing in their work culture environment in 2018. For more information on future trends and changes companies can expect to see in the workplace, feel free to contact us.