What is quiet quitting? The simple answer is that your employee has checked out be he or she hasn’t told you yet. The root cause may be your Employee Value Proposition.
The employee value proposition answers the question, why would a talented person want to join your organization? And why would they stay?
This Employee Value Proposition would be tied to your strategic plan and include your vision, your values, and your mission. The values should include such things as social responsibility, ethical conduct, and reputation.
Strong employee engagement produces successful business outcomes including a loyal customer base. And this leads to increasing sales and profits. The reverse is also true. Employees who are not engaged have no passion for their work, are frequently absent, make mistakes, and cost the organization its customers. Understanding what engages employees involves connecting with them.
The Employee Value Proposition EVP matters. Although people work for money there are other factors, and these other factors matter to today’s new workforce.
The study found that today’s workforce wants to feel that their work has meaning and is worthwhile. They want to work for an organization that has values that makes them feel proud. Furthermore, most say they would consider leaving an employer with values that no longer meet their expectations.
Think of your employees as your greatest asset. Without engaged employees you are less likely to have loyal customers and be successful. Therefore, employment branding and the employee value proposition takes on new importance.
Building the employee value proposition and brand requires spreading a message. It uses marketing and communications channels like those used to market your products or services.
What action would you take if your employees were to give a negative answer to the statement, “At work, I have the opportunity to do what I do best every day?” Of course, you would want to give them work that made use of their skills. But do you know how to do that? Meaningful work means different things to the different people. It is affected by preference, personality and generational and cultural differences. Your Employee Value Proposition should consider the diversity of talent, age and culture.
If quiet quitting is occurring in your organization that is a retention challenge that is costly in expense and lost customers. When you consider recruiting and training, lost customer service, lost productivity, and lost morale in others who are left, the cost is at least two times the employee’s salary. An engaged employee becomes more valuable as he or she grows. In addition, high-performing companies have loyal customers because they have loyal employees.
What is your Employee Value Statement? Is it supported by a line item on your P&L? This is an investment rather than an expense. The strategy should also include careful selection to see that an employee is matched to a job where he or she has a chance to excel, an assessment plan to identify key employee strengths, and a development plan to leverage those employee strengths.
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