April 6, 2021

Winning Formula Employee Happiness

 

Football fans likely saw the news that NFL running back Leonard Fournette re-signed with the Tampa Bay Buccaneers on a one-year, $4 million deal for the upcoming season.

Why was that event significant? Fournette’s return to the reigning champions meant all 22 starters from Tampa Bay’s Super Bowl LV victory will be on the roster in 2021. The only other time a team won a Super Bowl and returned all 22 starters the following season was the Oakland Raiders in 1976.

For the Bucs to pull this off in the era of salary caps, frenzied free agency spending and the culture of players hopping to teams they think have the best chance to win is a remarkable feat.

But perhaps if we look at what football players desire most – winning a championship – it makes more sense. Why would players leave a cohesive team that just achieved a major accomplishment?

In simpler terms, why would your employees leave if you have a winning culture?

Why employees leave

There are wide-ranging reasons why an employee will leave your workplace.

According to a Mercer study, here are the five most common reasons employees decide to leave an organization.

  • Better job opportunity (77 percent)
  • Personal or family reasons (46 percent)
  • Better salary (33 percent)
  • Lack of development and/or opportunities (26 percent)
  • Career change (18 percent)

Your organization realistically can’t retain all its employees year after year. But you can put processes into place that could entice them to stay.

Where could you start? If you look at the Bucs – creating an environment for your employees to succeed is a good place.

Success is key

Chances are high if you’re reading this, your organization isn’t winning the Super Bowl anytime soon. But there are still plenty of ways to create a workplace environment that breeds success.

Your company could:

  • Analyze employee compensation – including salaries, bonuses, PTO and benefits packages
  • Offer training and continuous education – employees want to grow and develop, and offering those opportunities is a benefit
  • Stabilize work-life balance – try not to encourage around-the-clock availability. A healthy balance is essential to your employees
  • Flexible working arrangements – especially as we’re still working through COVID-19, being able to work remotely is a boon as employees have learned to become productive while working from home

Start sooner than later

Not keeping your employees satisfied could be costly to your organization. When employees aren’t happy, they’re more likely to look elsewhere for work.

And it costs money to find replacements. A SHRM study showed businesses spend on average $4,129 to hire new talent and another $986 to onboard.

On the other hand, companies with active employees saw a 41 percent reduction in absenteeism and a 17 percent increase in productivity – which makes your company more profitable.

If you’re wanting more ideas to create a work environment that breeds success, contact Apex HR Consultant Brooke Salazar at salazar@apexbg.com.

Contact Brooke