Even though an employee might be satisfied, there is a good chance they would leave their job for the right opportunity and conditions.
That’s according to recent research that captures the insights and satisfaction of 544 Las Vegas workers earlier this year. The report is free and available for download, but here are some highlights:
Shane Green
As employers think about who might be willing to leave, they should consider this: Millennials (aged 28-43), Gen Z’ers (aged 27 and younger), and women are most likely to have their profiles updated on LinkedIn, Indeed, Zip Recruiter, and the like. The good news is, if they came into work today, they have not left you yet, so you still have time. The even better news is that data are available to help you understand what they want.
Not surprisingly, as a wise rapper once said, “It must be the money.” Yes, people want more money if it's available, but more importantly they want to know they are being paid competitively. I want to be clear: You must pay a competitive wage to be in business today. If you are still getting some Scrooge-like glee out of paying people less than market value, you can relax, because won't have many people to pay soon, because they will be gone. Now, even if you pay your people a competitive wage, one thing you need to do, which many employers are not doing, is tell your employees how you know the wage is competitive. Many companies do an annual wage analysis to ensure their wages are in line, but few are transparent about how they do it. Get transparent quickly about how you set your wages and are being competitive. By the way, your baby boomers (aged 59 and older) and women are the ones shouting the loudest, “Show me the money!”
Next on the list of employees' wants is best captured by musician Billy Joel when he said, “It's all just a matter of trust.” The research is clear: Owners, executives and managers who trust their people are more likely to keep them. Those who micromanage, do not empower or share relevant information on how the company is doing are going to lose people. Be more honest when you make mistake, explain in clear terms why changes happen, and be more transparent about your objectives for the year. Research suggests that many of employers do not think it is important that their employees know the goals of the company. That’s madness. Inform them so they can better help achieve your goals.
Next, Las Vegas employees want caring, respectful and supportive managers. Remember the old saying, “people don’t leave jobs, they leave managers”? We have plenty of managers in our town. The question is: How many of those managers are leaders? Management and leadership are two different things, though both are necessary for a successful business. Management is about the focus on work, while leadership is a focus on people. We have some of the best managers in the world, working in this town, but too many do not care about the people they are responsible for. I believe Las Vegas has too many managers, hiding in plain sight; managers who think it's OK, even a badge of honor, to treat workers poorly. If you are an owner or executive and you know you have a manager who enjoys being a jerk to their staff, get rid of them. It may hurt because they are good at getting things done, but the younger generations of workers are very clear: Managers who do not care about their people have to go, or the workers will. Remember, your people do not care how much those in charge know (management), until they know how much those in charge care (leadership). If you want to keep your workers in 2023, get your managers focused on leadership.
Some of the other important highlights from our report is that younger workers want more recognition and accountability for people who don’t perform. Stop rewarding people on tenure and allowing those who have been with you too long to do whatever they like.
Acknowledge that stress is real and is affecting people’s lives, because employees are prioritizing roles and companies that manage stress. We can't avoid it or get rid of it, but companies and managers who expect their employees to be available 24/7 and are asking workers to perform while being understaffed and underresourced, are elevating stress to new levels. And the No. 1 cause of stress at work is, you guessed it, those crappy managers.
For more insights, read the full report here. And think about starting to put a strategy in place to create the right type of environment and experience to keep your best people.
Shane Green is a Las Vegas resident, business owner and culture expert. He wrote the book "Culture Hacker" and has been involved in some of the largest service culture transformations globally and in this town.