Ignite! Driving Engagement and Retention across our Workforce

Introduction and Purpose:

• Speaker Background: The speaker is a non-executive director and advisor with extensive experience in recruitment, staffing, and talent engagement across various industries, including banks and law firms.
• Focus of the Session: The discussion centres on employee engagement, motivation, and performance, particularly in challenging economic times.
• Objective: To share insights on how businesses can enhance productivity, performance, and employee happiness through better engagement strategies.

Current Workforce Challenges:

• Post-COVID Economic Shifts: The UK workforce has faced significant challenges over the last 18 months, with businesses needing to adapt to a tougher economic environment.
• Leaner, More Optimised Businesses: Many companies have become leaner and more focused on profit growth, productivity, and performance.
• Multi-Generational Workforce: For the first time, five generations are working together, creating unique challenges in engagement and motivation.

Key Insights from Employee Engagement Surveys:

• Top Motivators for Employees:
  1. Remuneration and Benefits: Now the top motivator due to the cost-of-living crisis.
  2. Company Culture: A close second, highlighting the importance of a positive work environment.
  3. Role and Job Satisfaction: Employees value the work they do and its impact.
  4. Personal Development: A key driver, especially for younger generations.
• Satisfaction Gaps: There is a mismatch between what employees want and what employers provide, particularly in areas like salary, benefits, and career progression.

Employee Engagement Strategies:

• Flexibility: Employees are generally satisfied with flexible working arrangements, but businesses need to invest more in building team culture in hybrid or remote settings.
• Leadership: Leadership remains a low-scoring area in engagement surveys, with many employees feeling disengaged from their direct managers.
• Motivators vs. Demotivators:
  • Demotivators: Poor management, lack of recognition, and inadequate resources can lead to disengagement.
  • Motivators: Recognition, career advancement, and meaningful work drive employee engagement.

Generational Differences in Motivation:

• Gen Z (18-24): Focus on personal development and learning.
• Millennials (25-40): Increasing importance of job role, culture, and flexibility, especially as they balance work and family life.
• Gen X (41-56): Salary and job stability remain key motivators.
• Boomers (57+): Value job security and recognition for experience.

Leadership and Management in a Multi-Generational Workplace:

• Adapting Leadership Styles: Leaders must be inconsistent in their approach, adapting to the needs of different generations rather than using a one-size-fits-all style.
• Performance Programs: Training and career paths should be tailored to individual motivations and generational preferences.
• Practical Exercise: Conducting an “Interview to Motivation Survey” can help leaders better understand what motivates their employees and identify gaps in engagement.

Self-Determination Theory:

• Intrinsic Motivation: The traditional “carrot and stick” approach is outdated. Instead, motivation should come from within, driven by autonomy, competence, and relatedness.
• Leadership Responsibility: Leaders should focus on creating an environment where employees feel empowered, skilled, and connected to their work and colleagues.

Key Takeaways:

• Employee Engagement is Complex: It requires a nuanced approach, especially in a multi-generational workforce.
• Flexibility and Development: These are critical for retaining and motivating employees across all age groups.
• Leadership Adaptation: Leaders must be flexible and adaptive in their management styles to meet the diverse needs of their workforce.
• Practical Tools: Surveys and exercises like the “Interview to Motivation Survey” can provide valuable insights into employee motivations and help bridge engagement gaps.