Technology can have both positive and negative impacts on employee retention. On one hand, technology can streamline processes, improve communication, and make work more efficient, which can lead to increased job satisfaction and employee retention. On the other hand, technology can also lead to increased demands on employees and feelings of burnout, which can lead to decreased job satisfaction and higher turnover rates.
Technology can also make it easier for people to work from home and find new jobs, which can also lead to higher rates of employee turnover. Overall, the effects of technology on employee retention can be complicated and depend on many things, such as how the technology is set up and how employees use it.
Ways technology impacts Employee Retention
High staff turnover is a problem for many businesses, and fixing it can take a long time and cost a lot of money. Most businesses understand the need to retain top personnel, but figuring out how to do so when using legacy HR systems and data can be challenging.
If you use the correct digital tools to boost the satisfaction of your workforce, you can keep more of them and cut down on the money you spend replacing them. Technology can impact employee retention in a variety of ways, including:
- Improving efficiency and teamwork: Technology can automate tasks that are done over and over again, making employees’ jobs easier and making them happier at work. Technology can help employees talk to each other and work together better, leading to a more cohesive and engaged team.
- Access to new tools and resources: Technology can give workers access to new tools and resources that can help them do their jobs better and feel more fulfilled. Technology can make it easier for employees to work from home. This can give them more freedom and a better balance between work and life, which can make them happier at work.
- Flexible Working: A more flexible work environment might also contribute to employee retention. Work-life balance has become increasingly important to today’s workers; thus, workplaces that offer remote work or flexible hours are often highly sought after. Many workers, according to the results of these surveys, would rather have more flexible working hours than a higher salary.
- Modern Meeting Experience Software: When we talk about software to improve the meeting experience, we aren’t just referring to options for remote workers. Most meetings don’t get anywhere, so any way you can make them more productive will be greatly appreciated. Meetings that are easier to attend can help reduce stress at work, make it easier for people to talk to each other, and boost morale and employee retention.
- Improve the sustainability of your workplace: Workers’ concerns about the environment are receiving growing technological backing. Non-productivity-related technologies that optimize and limit energy use, including smart heating, cooling, and lighting systems, can be appealing to sustainability-minded employees and give them the impression that their company shares their values.
- Offer more autonomy through automation in HR: Generation Z, in particular, places a premium on independence, so it’s smart to give them more of it by automating HR processes. Your HR team will save a lot of time for your employees if they can use a people-management dashboard to check and schedule vacation time, read pay statements, look at perks, submit expenses, respond to an annual review, and take charge of their own professional development.
- Communication channels: Modern workplaces often suffer from the problem of miscommunication. Employee satisfaction can suffer when their roles are unclear. Maintaining open lines of communication is also critical for providing regular feedback to employees. Improve your day-to-day communications by using a tool like Slack or Teams.
- Employee Satisfaction Surveys: Make sure to conduct regular staff needs assessments. With the use of technology, one-on-one sessions with employees can be an effective way to measure morale. One option is to use a pulse survey tool, which has a list of questions designed to gauge specific levels of interest. The response to a question like, “How satisfied are you with your job?” can reveal a lot. TinyPulse and Qualtrics are two additional digital survey tools.
- Evaluation Technology for Performance Improvement: To keep your staff interested and motivated, you should make good use of their abilities. Employees value being given opportunities to learn and advance in their careers. When employees are working on tasks they are already familiar with, they are more productive. Providing them with room for advancement is another great way to keep them around. Motivate your staff by using technological tools like goal-setting benchmarks. Managers can set performance targets and monitor progress with the help of software like Lattice.
- Tools for Recruiting: The slow pace of the onboarding process is another issue that can put off potential employees. Some businesses take over a month to bring on a new hire. So, it makes sense to incorporate various forms of technology into your search for new employees. Artificial intelligence (AI)-powered tools speed up the hiring process and provide useful insights. Some methods can even help you find skilled workers. You can also use XOR and similar apps with chatbots to automate the screening process.
In a nutshell
Today’s technology lets serviced office providers like Instant set up fully serviced, flexible workspaces for small, medium, and large businesses to lower their operating costs. Overall, the effects of technology on employee retention can be complicated and depend on a number of factors, such as how the technology is used by employees and how well it fits into the culture of the workplace.