Before The Epidemic, Far-Sighted Managers Used The Concepts Of Human Psychology To Identify People’s Moods, Motivate Them, And Pay Attention To Their Needs So That Employees Would Feel Comfortable Staying In The Company.
Maslow, Such an attitude is still needed because today’s world is no longer what it used to be, and employees are willing to leave the company with just one sentence.
“Abstract psychological concepts such as intrinsic motivation and a sense of belonging are key indicators of company loyalty,” said David Rock, founder, and CEO of NeuroLeadership, in an interview with Fortune magazine.
These indicators were carefully considered under normal circumstances, even when individuals were not under stressful circumstances. Intrinsic motivation or intrinsic motivation means doing something without receiving an external reward. “People do it because it’s fun, and they like it.”
“Over the past year and a half, the need to understand the inner motivation of employees and define the meaning of what they do has become an important and key issue for managers,” says Rock, a neuroscientist.
“When society is unstable, you need more precise goals in your daily life.”
According to the US Bureau of Labor Statistics, nearly 20 million workers have left their jobs since April 2021, prompting countless companies to seek new talent.
Employers need to know that workplace-worker dynamics have changed dramatically in 18 months. Jobs are no longer a means to an end. Workers are increasingly expecting their employers to provide benefits, allowances, and flexibility to balance work and life that did not seem unattainable before the epidemic. If companies do not seek to meet the needs of their employees, the workforce will leave them in the blink of an eye.
Ernst & Young (EY) wrote in an article entitled Factors Affecting the Great Resignation: They bring”.
The authors of this research study advise CEOs to re-examine the principles of human psychology to better implement organizational culture to understand what factors make their employees work.
What is behind the prominent resignation?
The Covid epidemic, which left many people homeless for more than a year, provided a rare opportunity to reevaluate their priorities, values, and circumstances. For many, this included understanding the many benefits of flexible working life.
“Those who were able to stay away from work for a relatively long time due to their job position during the crisis could easily consider their options,” the authors write. “They believe that having more time and flexibility for family, entertainment, and sports is more than just good and is necessary.”
The widespread shortage of the current workforce illustrates that millions of employees have realized that they need to resign from their jobs in search of better job opportunities. To be more precise, they go to an employer with more respect for their non-working life.
The gap between what workers are looking for and what their employers are offering has widened to the point where we are now facing the phenomenon of the Great Resignation.
EY notes that this may be a reminder to employers. The prominent resignation can be an opportunity to redraw and re-visualize business parameters so that the employer places exceptional value on their employee relationships.
Reason for staff resignation
Many companies offer material benefits such as higher wages, flexible working hours, and distance work allowances to encourage new workers to enter the company and discourage existing workers from leaving the company. However, research by McKinsey & Co in September shows that this technique does not always work.
Among the nearly 6,000 employees surveyed, the three main reasons they quit were: I feel the organization does not value me (54%), managers do not appreciate me (52%), and I do not belong in the workplace. (51%) and worse, 40% of respondents said they were likely to quit in the next three to six months.
Even a pay raise is not enough for many employees to stay in a company that feels that the organization does not value their personality and does not respect life outside of work. BetterUp’s Meaning and Purpose at Work report, compiled in 2018, showed that 9 out of 10 professionals are willing to give up the excellent income they have and instead go for continuous and meaningful work.
According to EY, this is where Maslow‘s advice can be helpful.
What is the hierarchy of needs?
It is a psychological model designed by twentieth-century psychologist Abraham Maslow to illustrate the basis of human motivation and behavior. Physiological needs, such as nutrition, shelter, and physical safety, must be met before one can pursue more abstract needs, such as belonging and self-confidence.
Before 2020, the criterion for measuring the performance of corporate executives was to achieve the bottom two levels of the above pyramid. EY explains: “Workers receive a standard set of benefits and incentives that meet their physiological level 1 needs: food, clothing and health benefits, and status of safety in return for a large portion of the tasks assigned to them by the organization. 2 which included job security and regular pay.
But people naturally want to go beyond the basics and achieve emotional goals. It is difficult to respond to such a request in traditional mechanisms.
A study conducted in 2019 at the Harvard Business Review shows that the desire for social belonging makes us human.
“This is strangely embedded in our DNA, but 40% of people feel isolated in the workplace, which reduces commitment to the organization and the performance of tasks,” the study said.
Feelings of rejection in the workplace can deprive people of vital opportunities to gain the views of others, guide colleagues, and even make strategic proposals to the company. A sense of participation and support has the opposite effect: If workers consistently perform better, they stay in the company longer and work hard at work.
For many, the epidemic has shown that one can be a productive employee and meet higher-level needs. EY suggests that employers seek to identify and resolve employee problems instead of accepting a significant resignation.
By adequately understanding Maslow’s hierarchy of needs, leaders can modify and implement their operational models to meet employees’ higher and more basic needs. Given the issues of belonging, inclusion, acceptance, and the values of living outside of work, they can increase employee commitment to the organization and foster employee creativity, productivity, and participation.
EY outlines four basic and immediate steps for CEOs looking to make a difference.
1. Create a culture of belonging
Leaders should draft a new employee-employer contract that addresses and emphasizes high-level needs. BetterUp research shows that workers who have the highest sense of belonging to a company are 34 percent more likely to stay than those who feel out of place.
2. It is better to institutionalize the culture of organizational belonging in each of the teams of the organization
By training the managers of different units to empower smaller teams under their supervision, you will be able to implement an efficient environment with high affiliation. Leaders can take the step based on micro-participation in which each person at any stage and responsibility is involved in drawing the organization’s goals.
3. Make team leaders responsible for achieving, creating, and maintaining high-ranking teams
In interacting with managers in different departments, please make a list of key performance metrics (KPIs) that specifically show how engaged employees are, their responsibilities, and how you show them they are valuable. Evaluate these key performance indicators regularly and thank the teams that succeed in doing great things by rewarding and encouraging them to motivate them.
4. Keep your goal and vision in balance
Most workers say that they want to work for a company that has a cohesive and meaningful concept. By ensuring that workers have the opportunity to devote time to taking care of their non-working lives while performing an admirable mission during working hours, leaders at least increase the chances of retaining the best talent. However, accomplishing these processes and keeping employees satisfied is challenging but rewarding.