Staff Retention – It’s not just about money

So many conversations I have with clients these days are about the challenges of staff retention, with many companies still working on the assumption that everyone is motivated, first and foremost, by money.  At Dove Nest we have a unique opportunity to work with individuals from many sectors, and across all levels of business.  We have the pleasure of supporting them with bespoke leadership and behavioural development and the message is loud and clear, people are looking for much more than just monetary reward.

Whilst generational approaches to working may vary, we all need a certain amount to live on and pay our rent/mortgage.  However, it’s perhaps no surprise that there are other things that motivate us.  People are looking for their work to be rewarding.  They want to know what’s expected of them, that they ‘belong’, are valued and making a difference.  It’s true to say that we all need different levels of support – some relishing autonomy, with others needing more of a directive approach, but what we all need in some measure is acknowledgement, praise and thanks.  You could say that this shouldn’t be necessary when an individual is doing what their job requires but, taking a brief moment to acknowledge accomplishments, cannot be underestimated when it comes to discretionary effort.

Other areas highlighted are a flexible approach to working, helping individuals find the right work/life balance at a time when we are all time poor.  People are looking for their employer to know them as individuals, showing an interest in their well-being, understanding what motivates them and their aspirations for the future.

The key to all this is making sure that the leaders in our business understand that employee aspirations for work are changing.  We need to provide them with the tools and techniques to lead effectively in this ever-changing landscape.  Dealing with everyone as an individual, helping them to be the best they can be to the benefit of the individual themselves, their team and their wider business – a win/win for all.

Thanks to John Rampton, Entrepreneur, for his article on ’10 Tips to Motivate Employees without resorting to money’ which prompted the above ramblings 😊

Journal written by Liz Hearnden – Client Engagement Consultant