Insights

Nearly every CEO I meet understands the importance of employee engagement. They believe in the power of recognition. They know that engaged employees are more productive, that culture drives retention, and that a motivated workforce leads to better business outcomes. But here’s the problem—too many leaders stop at believing. They’re not actually investing. They’re not putting their budget where their values are. And the cost of inaction is adding up.

As a performance management tactic, year-end reviews are a valuable tool for promoting employee development and aligning individual tasks with broader company strategy. Research has found that companies that focus on their people’s performance are 4.2 times more likely to outperform their peers.

Improving retention is a critical endeavor for healthcare HR teams, for a multitude of reasons. Higher attrition improves everything from company margins, to patient outcomes, to organizational standing. But in an industry grappling with widespread burnout, how can HR teams rebuild employee engagement and loyalty? Research shows that cultivating a positive healthcare workplace culture can counterbalance the many inherent pressures of healthcare work.

Amidst ongoing labor shortages and widespread skills gaps, companies are struggling to attract and retain top talent. The average time to hire is at an all-time high, while worker satisfaction is at an all-time low. The result? HR leaders are spending more time and money on workforce management than ever before.

How can we combat this scourge of stress and create workplaces that radiate wellness and joy? The key is supportive, human-focused leadership. By prioritizing employee well-being and workplace mental health, supportive leadership can steer companies toward higher employee satisfaction, productivity, and profits.

In their quest to build thriving workforces, HR teams have employed various tactics throughout the years. Compensation, work-life balance, and professional development strategies have all helped enhance employee engagement. Yet increasingly, evidence points to an even more impactful strategy: the cultivation of workplace purpose.