In today’s evolving labor market, many employees feel stuck in their roles. With fewer internal moves and declining turnover rates, American workers are getting restless just as the job market becomes tougher to navigate. However, various companies are exploring innovative employee engagement strategies to spur movement and keep their workforce engaged and motivated.
The Shift in Turnover Trends
Voluntary turnover within companies has fallen from 17% in 2022 to 12% so far this year, according to data from professional-services company Aon. This decline in turnover includes what companies’ term “regrettable turnover” —losing employees they would rather keep— yet high-performing employees who would typically be at risk of leaving are now choosing to stay. While this trend may seem positive, it presents a unique challenge for businesses aiming to foster growth and development among their staff.
Innovative Employee Engagement Strategies
To address this challenge, many companies are now focusing more on dynamic training programs and encouraging managers to provide more personalized coaching during one-on-one meetings. These employee engagement strategies help propel employees forward, even within the constraints of a less dynamic job market.
Job Swapping
One of the most effective employee engagement strategies being adopted is job swapping. Companies are experimenting with job swaps across various departments, allowing employees to switch roles with colleagues for periods ranging from 90 days to a year or more. This strategy not only addresses the lack of movement but also helps employees develop diverse skills and experiences, enriching their professional growth.
Emphasis on Internal Recruiting
Another effective tactic involves ramping up internal recruiting efforts. Some HR departments have started setting up coffee chats with employees to discuss their career aspirations. These conversations demonstrate the company’s interest in their employees’ careers and have the added benefit of making internal job openings more visible to current staff. Prioritizing internal candidates for open positions is one of the innovative employee engagement strategies that fosters a sense of career progression and loyalty within the company.
Keeping the Workforce Engaged
In an environment where high turnover is no longer a given, companies must find new ways to keep their workforce engaged and motivated. Through job swaps, enhanced training, and proactive internal recruiting, businesses can implement innovative employee engagement strategies to help their employees grow and thrive, even when the broader labor market presents challenges.
Curious to see if your employees are feeling the same way? It’s time to ask in a Best Employer Survey. Let’s work together to create a thriving workplace where every employee is eager to make a difference every day.
