Are you keeping your team engaged?

Why carrying out regular Employee Engagement and Culture surveys matter for your employee retention rate

The recent Future Realised, EY Malta’s Attractiveness Survey has confirmed what we all knew. Workforce and skills availability, or lack thereof, are identified as top risks for businesses in Malta going forward. We are all in competition to retain top talent, and this is why conducting regular employee engagement and culture surveys is one of the most effective strategies for achieving this. These surveys provide invaluable insights into the workforce's sentiments, needs, and expectations, which can significantly impact retention rates. Carrying them out regularly is key. One survey takes a picture, and it will nevertheless speak a thousand words. However regular surveys, with coordinated interventions in between, will help you understand what to STOP doing, KEEP doing, and START doing to improve satisfaction at the workplace.

Here’s why these surveys matter.

Understanding Employee Sentiment

Employee engagement surveys are designed to gauge how connected and committed employees feel towards their work and the organisation. By regularly assessing engagement levels, companies can identify areas where employees feel satisfied and areas that need improvement. Understanding these sentiments helps in creating a work environment that fosters loyalty and reduces turnover.

Identifying Areas for Improvement

Culture surveys delve into the organisational culture, examining aspects such as values, beliefs, and behaviours that define the workplace. Regularly conducting these surveys allows companies to pinpoint cultural strengths and weaknesses. For instance, if employees feel that there is a lack of recognition or that the work-life balance is skewed, these issues can be addressed promptly. By making necessary adjustments, organisations can create a more positive and supportive culture that encourages employees to stay.

Enhancing Communication

Regular surveys open up channels of communication between employees and management. They provide a platform for employees to voice their opinions, concerns, and suggestions. This two-way communication is vital for building trust and transparency within the organisation. When employees feel heard and valued, they are more likely to remain committed to the company.

Boosting Morale and Productivity

Engaged employees are generally more productive and motivated. Surveys help in identifying factors that contribute to high morale and those that detract from it. By addressing the latter, companies can enhance overall job satisfaction. Happy and motivated employees are not only more productive but also more likely to stay with the company.

Data-Driven Decision Making

The data collected from these surveys provide a wealth of information that can be used to make informed decisions. For example, if a significant number of employees express dissatisfaction with career development opportunities, the company can implement targeted training and development programs. Data-driven decisions ensure that the measures taken are aligned with the actual needs and preferences of the workforce, leading to better outcomes.

Demonstrating Commitment to Employee Well-being

Regularly conducting engagement and culture surveys sends a strong message to employees that the organisation is committed to their well-being. It shows that the company values their input and is willing to invest in creating a better work environment. This commitment can significantly enhance employee loyalty and reduce turnover.

Proactive Problem Solving

Surveys can act as an early warning system, highlighting potential issues before they escalate into major problems. By identifying and addressing concerns early on, companies can prevent dissatisfaction from spreading and causing a mass exodus of talent. Proactive problem-solving is key to maintaining a stable and satisfied workforce.

In conclusion, regular employee engagement and culture surveys are essential tools for any organisation looking to improve its retention rate. They provide critical insights into employee sentiments, identify areas for improvement, enhance communication, boost morale, and enable data-driven decision-making. Most importantly, they demonstrate a commitment to employee well-being, fostering a positive and supportive work environment that encourages employees to stay. By investing in these surveys, companies can build a loyal, motivated, and high-performing workforce, ensuring long-term success.

Ediana Guillaumier, Senior Manager, People Consulting and Learning Lead, EY Malta; Board Member, FHRD

Contact ediana.guillaumier@mt.ey.com for tailored Employee Engagement Surveys for your organisation.