How Digital Signage Can Help Combat ‘The Great Resignation’
There’s a tendency to think of digital signage as chiefly an advertising medium. While it is certainly an effective way to increase sales and influence the customer experience, forward-thinking companies are increasingly coming to understand that the technology is also ideal for improving employee communications and combating disturbingly high turnover rates.
Since early 2021, U.S. companies have been losing large numbers of employees in what has become known as “The Great Resignation.” There’s no sign it’s slowing down, either. According to the most recent figures from the Bureau of Labor Statistics (BLS), 4.4 million Americans quit their jobs in February. That’s just a slight dip from the record 4.5 million resignations in November.
The business cost of this trend is enormous. Analysts say replacing an individual employee can cost twice their annual salary due to the costs of screening, recruiting, onboarding and training a replacement — plus the loss of productivity until the new hire gets up to speed. That’s why a Gallup study finds that voluntary turnover is costing U.S. businesses more than $1 trillion a year.
The Power of Communication
The Gallup poll further suggests that a great many resignations could have been avoided. More than half of those surveyed said their employer might have prevented them from leaving with better communications. Fifty-one percent said that in the months before they left, nobody in management spoke with them about their job satisfaction or future with the organization.
Effective communication has always been an important factor in employee engagement — and that’s especially true after two years of uncertainty about when, how or if employees will be returning to the office. Although most companies favor a hybrid work model, many have not clearly defined how that will work. For example, will employees be required to be in the office on certain days of the week, or only for certain business functions?
A recent global survey illustrates the uncertainty. Economist Impact surveyed more than 1,200 employees who are currently working under a hybrid model. Approximately 60 percent said they feel disconnected from the organization and coworkers, and that limited networking opportunities are negatively affecting their career growth.
Put in a Good Word
In addition to improving performance, digital signage can also improve employee engagement by ensuring a steady stream of content that promotes company initiatives, publicizes career advancement opportunities, fosters team-building exercises and informs about organizational changes. Don’t underestimate the value of an “atta-boy” — using signage to recognize individual and team accomplishments as well as personal milestones such as anniversaries and birthdays can be a terrific morale-booster and help employees feel a stronger connection to the company.
Companies can further generate an overall sense of goodwill by using signage to deliver content about community activities, events and volunteer opportunities. Encouraging community involvement sends a message about the company’s core values and culture, and it will help employees develop a more personal connection to the organization. According to one survey, 86 percent of new professionals and recent college graduates say it is important to them to work for a company that is socially responsible.
At a time of unprecedented churn in the U.S. labor force, organizations must make employee engagement a high priority. Employees who feel recognized and appreciated for their efforts will be happier, more productive and less likely to seek other opportunities. Our SageVIEW digital signage team can help you develop a content strategy to boost employee engagement. Contact us at 866.480.2263 or by email to learn more.
