If your company has a clear idea of what factors will keep employees from leaving, it can focus on those elements with an HR software solution designed to meet those metrics. The things that are most valuable to different employees could vary, but Business Insider recently quoted Laszlo Bock of Google, who identified two common things that keep workers interested.
At a Bloomberg panel, Bock recently outlined his view on what attracts people to a position and keeps them there: high-quality talent and meaningful work. The former refers to the types of people they will collaborate with across all departments, while the latter refers to a general sense of purpose that helps inspire them to commit to the company’s mission. Though this can include benefits and “perks,” Bock said that a sense of meaningfulness is more important because it could persuade them to stay in their job for longer.
In a question-and-answer article for Workforce, Dick Finnegan of C-Suite Analytics, also says that Google’s emphasis on trust between workers and bosses has contributed more to its employee retention rate that any of its much-publicized benefits, as Fortune’s listings of the best 100 companies for employees implies.
“A deeper dive reveals that two-thirds of the scores are based on the Great Place to Work’s Trust Index Survey, which measures how much each employee trusts a direct supervisor,” he writes.
Based on this information, businesses could prioritize factors that are less tied to benefits when measuring employee satisfaction and intended length of stay. Managing benefits is still important, but can perhaps be part of a larger strategy that utilizes an HR system to routinely monitor performance and recruitment metrics. Consultants will be able to steer companies toward the right system for them.