Hiring great people isn't easy. Sifting through piles of resumes, interviewing dozens of candidates and eventually training a new person can all be a drain on your existing resources. It's for this reason that employee retention is such an important goal for most organizations: keeping talented workers is a lot more cost-effective and productive than constantly hiring and training new ones.
The question, then, is how companies can hold on to their most productive human capital.
For many top workplaces, the answer is by fostering a high morale. Recent research conducted by The Morning Call in conjunction with survey firm WorkplaceDynamics bore this connection out.
The survey polled nearly 7,000 participants across more than 50 different workplaces. What it found were that many of the top performing organizations, according to their staff, were also ones that had low turnover. Not only that, they were also businesses that had made a concerted effort to get employees to want to stay.
In an article describing the results, The Morning Call highlighted particular statements that spoke to high morale.
"The statement with the strongest correlation to a high ranking is 'I believe this company is going in the right direction.' Other statements with high correlation to a high ranking were: 'I feel genuinely appreciated at this company,' 'I have confidence in the leader of this company' and, 'My job makes me feel like I am part of something meaningful.' In interview after interview, the employees of top workplaces spoke effusively about the 'meaningful-ness' of their work," reads the article.
All of these statements speak to the high value of having a positive corporate culture. Even more telling, low retention is a cycle that can sometimes perpetuate itself: employees leave because they're unhappy, and high turnover can exacerbate issues in an unhappy workplace.
While you may have a general idea of the climate of your office, it's impossible to notice everything. That's why an employee morale survey is so crucial — it allows you to get a more accurate reading of any potential issues than guesswork alone would. With a keen understanding of the measures that are working as well as those that aren't, managers can help boost their team's confidence, create a more productive work environment and retain more of their best employees.