What are leaders most concerned about in 2016—and what topics can you expect to address at some point this year? A recent study from TINYpulse makes some surprising management related predictions for the New Year – here’s what 400,000 leaders and employees mentioned as top concerns for 2016 and beyond:
As Baby Boomers continue to retire and enjoy their golden years, the millennial generation is becoming the largest group of employees in the workforce. As your business begins to experience the shift from senior employees to this younger generation, you can expect to see changes in attitudes and workplace values too. This generation is more concerned with social responsibility and balancing life and work than their older counterparts; shifting some workplace dynamics to match those concerns could help you acquire and keep the best workers of a new generation.
Increasing Demands for Technology
Those tech savvy Millennials will bring along an increased demand for mobile and interactive tech. if you are not already using some form of mobile tech in your workplace via tablets, phones or proprietary equipment, a shift to these models could improve both efficiency and engagement in 2016.
Coping with the High Cost of Employee Turnover
Expect to see a high focus on employee retention in 2016. According to figures from ERE Media, it costs about 40-60% of an employee’s annual salary to replace them. As businesses begin to look for better ways to trim costs, the high ticket price of employee turnover is taking center stage in 2016.
Improving employee turnover begins at the hire, so leaders that focus on recruitment and placing the right people in the right positions are likely to stay ahead of the employee turnover cycle. Improving employee engagement and motivation by offering non-salary perks and rewards will also be a key focus for leaders in 2016.
Focus on Retention and Engagement
Engaged, loyal employees perform more efficiently and are more likely to stick around. Building loyalty and boosting motivation is about more than providing the right paycheck – offering other incentives can help keep workers engaged and on track.
In a recent survey of nurses, researchers found that facilities that offered educational opportunities and support and gave employees more opportunities naturally built in loyalty and boosted retention rates. Even nurses who reported a low level of satisfaction with their specific duties (mostly those in long term care and geriatric facilities), reported that they stayed with their employer because of the advancement opportunities, flexible schedule and other, non-salary perks. Offering employees in any field opportunities for certification, training and other, intangible benefits can help you create a cohesive team that is truly engaged with your business.
Thinking about appealing to and tailoring conditions to younger workers now – and focusing on turnover and retention for everyone could help you run a more efficient, more productive workplace in 2016. One of the best ways to improve efficiency is to make sure you are truly using the right tools for the right job.
If you haven’t reviewed your industrial painting needs in a while, the new year is the perfect time to make a fresh start. Contact us to learn more about the latest options in painting and how we can help you make 2016 your best year yet.