The People Side of Business and Worker Retention

According to a survey conducted this past month by the American Psychological Association, “Despite uncertainty in the job market, the top reasons working Americans say they stay with their current employers are work-life fit and enjoying what they do…” The report also notes that, “Fewer employees cited concrete reasons for remaining on the job, such as benefits, pay and a lack of other job opportunities.”

What does this mean? David W. Ballard, PsyD, MBA, the head of APA’s Psychologically Healthy Workplace Program who conducted the study, suggested that, “To engage the workforce and remain competitive, it’s no longer sufficient to focus solely on benefits. Today, top employers create an environment where employees feel connected to the organization and have a positive work experience that’s part of a rich, fulfilling life.”

Keeping employees, and getting their best performance, is consequently a function of understanding and approaching workers in concert with their psychological functioning. It requires an acceptance of what people need and derive from work. This framework of what people need and how they function is the six principles for the people side of business.

When employers pay attention to the needs of their employees, help them find the right fit in the company, and care about work/life balance they create an atmosphere where people not only feel connected, they take ownership of their work and the company mission. When employees want to stay, they are more likely to creatively solve problems, build the company, and participate in teams. They need less supervision and operate more autonomously. And, satisfied workers who stay save the incredible cost of new hires and their associated training needs and learning curve.

Attending to the people side of business is not just a nice thing to do for your employees; it is what creates the dynamism and performance of a successful company. The survey confirms it.

Tom DeMaio, PhD

http://www.DeMaioPsychology.com

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