Why you need to improve your internal communications right now ?
On average, how long do you think an employee stays at a company? The answer is just 15 months!according to a study by Glassdoor
One of the biggest challenges facing managers today is how to keep their best talent on their books! Any business that takes notice of this figure and acts quickly will have a significant head start on its competitors. All the others will see their turnover skyrocket, a real danger for the business and indicative of a problem in its organisation or the choices it has made.
Discover how improving your internal communications will help you hold on to your most valuable personnel.
While the workplace is evolving and adapting to Generation Y, those born between 1980 and 1995, a new generation is slowly creeping in and bringing with it a management renaissance.
Born in the late ‘90s, Generation Z is a far cry from the previous generations. At the end of 2020, they will represent 20% of the work force, totalling 6 million in France according to the country’s Ministry of Labour.
50% of this new generation would prefer to work for themselves than be an employee.
The Gen-Zs are very wary of the traditional workplace, which they associate with stress, a bad atmosphere and pressure from managers. They want a high quality of working life and are willing to forgo a better salary to get it.
71% of Generation Z believe that new technology will make the workplace fairer.Study led by Dell Technologies
This new generation has grown up surrounded by tech and dream of working with cutting-edge technology. However, they are also ‘digital natives’ who enjoy human interaction. They not only want to know the reason for their work, but also who they are working with.
Generation Z are looking for purpose in life, and consequently want to feel useful and yearn for recognition from their superiors. They want to feel trusted by managers, rather than subordinate.
Given the demands and changes brought by Generation Z, companies have no choice but to evolve. And they must do so without delay if they are to integrate these future generations as quickly as possible.
Record lows in the talent pool and record highs in turnover have made these issues a key strategic challenge for businesses: in 2017, one in two companies globally had difficulties recruiting.
This new generation doesn’t have the same expectations. Gen-Zs are not bothered about long-term contracts and have no desire to spend all their life in one company. That’s why 32% claim to be capable of leaving their job overnight if they weren’t happy.
6 – 9 months of salary! The average cost to replace an employee
Staff turnover is also a major problem for businesses. While there may be a plethora of reasons for high turnover, the consequences are all the same: low morale, low productivity and high costs.
There is thus an urgent need for companies to properly understand these new generations and adapt accordingly. In order to fill the gap, they will have to learn how to ‘seduce’ and win over new talent.
The startups of Silicon Valley, who are veterans in this battle for talent, clearly get it. They have innovated and developed effective methods to motivate employees and thus foster innovation.
These startups have come to focus on offering the best working conditions and more flexible management techniques: refurbished offices, a balance between work and home life, flexible working hours, digitisation, etc.
Managers have no other option but to do all they can to stop employees from going elsewhere. One of the qualities of a perfect manager is the ability to communicate well with their staff.
Neglecting internal communication within the company is a serious mistake. It is a crucial cog in the machine, both for delivering important messages and also for improving team cohesion towards a common goal.
In addition to offering a better quality of working life, internal communication gives purpose and meaning to work and helps boost employee engagement.
As the new generations start to take their place in the workplace, there has been a shift towards encouraging all employees to participate in the adventure. Staff will feel part of the effort and be more efficient. Circulating information becomes easier and more efficient.
Four generations sit side by side in the office: baby boomers and generations X, Y and Z.
Internal communication is a key ingredient in successfully overcoming generational differences within the workplace. With inter-generational internal communication tools that are accessible to all, they will be able to create a participative and collaborative culture that leads to social cohesion.
Businesses and their employees must therefore learn to better communicate internally to improve engagement, motivation, efficiency and team work. A company’s results are directly linked to the way it communicates internally.
The arrival of new generations represents a considerable challenge for businesses. These youngsters have different aspirations and desires that under no circumstances are they willing to concede. Companies will have to adapt by adopting proper internal communication, which will prove crucial in guaranteeing employee engagement and cohesion in our ever-evolving world.