43% of HR professionals in the engineering industry cite employee retention as their top challenge. Poor staff retention can lead to a host of operational, quality and safety challenges that can have a negative impact on the business. By improving employee engagement and job satisfaction, many of these difficulties can be overcome, an idea which is supported by Forbes, reporting that organisations with an employee-centric culture can reduce attrition by more than 30%.
An employee-centric culture can be achieved by implementing processes which prioritise and empower employees, cultivating inclusivity and fostering open communication, rather than a market-driven culture which often prioritises results over employee satisfaction.
In this blog we look at some of the ways engineering firms can achieve this.
Encourage Employee Engagement
Creating open communication channels with employees can help them to feel valued and listened to. When members of staff are encouraged to share their ideas, concerns and feedback, this generates feelings of empowerment that make them feel truly part of the organisation’s growth. Involving employees in decision-making processes, especially those that affect their work directly, can foster a sense of ownership and commitment.
The same goes for employee development. Reviews and appraisals should be conducted in a positive environment with personalised feedback and employees should be encouraged to evaluate their own performance and give feedback on the business. Keeping reviews regular and giving colleagues the support and resources required to achieve their goals can significantly boost morale and productivity.
Keeping employees engaged and cultivating a sense of belonging goes a long way towards business success. Around 42% of respondents to a Mental Health UK survey cited isolation as a contributing factor to burnout and SHRM found that employees experiencing burnout are nearly three times more likely to be searching for another job than those not experiencing burnout.
Focusing on workforce engagement drives better business outcomes by boosting productivity, reducing staff turnover and creating a community culture where innovation can thrive and profits can soar – businesses with a highly engaged workforce are 21% more profitable that those without.
Boost Career Development Opportunities
Training programmes or workshops that offer employees the opportunity to develop new skills and enhance their careers can be a great way to boost job satisfaction. Continuous learning helps teams to stay focused and engaged, fostering enthusiasm and a desire to remain employed in the same business. If employees see that the company is investing in them, then they are more likely to remain loyal.
This could take the form of an educational pathway such as an HNC or HND or could see the business supporting staff to take a vocational shift to a specialisation such as electronics or software. The achievement of certifications and licences such as Project Management Professional (PMP), Six Sigma or a Professional Engineer (PE) License can boost employee’s morale and motivation. Engineering is a dynamic field, so on-going professional development is essential for both the employer and the employee.
Mentoring and coaching is another way of keeping employees engaged and happy in their work, especially when transitioning roles or working towards higher positions. This can be a good way of exposing staff members to other departments to broaden their business understanding, or to participate in product development projects for enhanced learning, keeping them motivated and focused.
Create a Better Work-Life Balance
Last year, Engineering and Technology magazine stated that 65% of engineers reported experiencing burnout, with the rate rising to 92% among executives in large engineering organisations. This can leave employees battling with exhaustion, a decline in mental and physical wellbeing and a decrease in both productivity and job satisfaction. This ultimately leads to a high staff turnover. It’s important that businesses seek out ways to combat this to reduce the losses associated with on-going recruitment and training.
Allowing flexible working where possible, can have a huge impact of work-life balance and studies have consistently supported this idea. A whopping 84% of employees surveyed across various sectors reported that flexible work arrangements have led to improved work-life balance, highlighting the positive personal impact of such policies. This is supported by the Harvard Business Review, which reports 77% of employees would prefer to work for a company that gives them the flexibility to work from anywhere.
Wellness programmes can also help support employees with balance. Initiatives that support physical and mental health such as gym memberships, stress management workshops, mental health days and generous paid time off policies can cost the business very little, compared to the upheaval of a high staff turnover or sickness rate.
Keep workload expectations realistic and encourage employees to take regular time off, respecting their personal time. Ultimately, supporting employee wellbeing aids long-term productivity and the success of both your staff, and your business.
Ensure Competitive Compensation and Benefits
To attract top talent, compensation needs to be competitive. And compensation isn’t just what’s in the salary. Many of the perks that used to be seen as benefits are now expected, such as private healthcare and gym memberships, meaning that engineering firms need to see benefits packages as a strategic necessity to retaining a strong workforce.
Regular pay reviews not only help the employee to progress, but also help businesses to remain competitive, strengthening your employer brand and ultimately giving you a strategic advantage in the market.
When employees feel compensated, they’re more likely to stay loyal, reducing the high costs and disruption associated with rehiring and retraining. A loyal workforce will be more collaborative and better invested in company goals creating long-term success for everyone involved.
However, a survey carried out by The Engineer found that although salary was cited as a key motivator for changing job role, a clear career progression path and the opportunity to embrace new challenges were of almost equal importance, so it’s vital that engineering firms get the balance right, ticking all the boxes to keep job satisfaction high among their workers.
If you’re looking to expand and improve your workforce – then get in touch with us here to speak to our team.