Having a high employee turnover for any company is usually a sign of unmotivated employees wanting change. There are several things that you as a company can implement to keep employees happy and motivated in the workspace. This blog post is specific, but not limited to, pharmaceutical, biotech, and other specialised companies that can fit under this category of STEM.
Tip no.1- The Theory of Job Embeddedness
This is a theory developed by Dr Kohyar Kiazard and is recognised as a theory over and above ‘traditional’ reasons such as job satisfaction and commitment to an organisation. This term refers to the totality of forces in which people who are embedded can exist in an individual’s organisation or the community where they live. The theory suggests that ‘people tend to stay because of their valued connections to other people or groups at work or in their community and their comfort and compatibility with their workplace or living environment.’
Tip no.2- Financial Incentives
Anyone would understand that increasing salaries increases company expenditure. However, as a company, you should be kept updated on several factors. This includes; the cost of living, inflation, the company image, and also the salaries competitors offer. Open discussions should be held with employees to discuss pay or bonuses could be given as an incentive for employees to perform better.
Tip no.3- clear progression opportunities and training programmes
Ambitious people tend to work for goals and objectives. If there is clear path of progression, then employees with the instinct to progress, will stay motivated. As a company, you could present opportunities to employees and also how to achieve them. It is also important that the company present opportunities for training and development. Employees in STEM naturally want to learn, so if there are opportunities to train and learn new skills, it will keep them interested and engaged.
Tip no.4- Flexible Working
Study showed that 28% of new parents leave STEM due to prioritising family. The pandemic had a very negative overall impact however, it did show that working from home is successful and in fact a Stanford university research group proved that employees are 13% more efficient when working from home. Giving your employees flexibility with their work hours opens up both a larger pool of possible candidates as it makes the position more attractive, and also makes employees motivated in the designated time that works around their lifestyle.
Tip no.5- Freedom of research
Scientists and engineers usually have a specific area or areas in which they are interested in. When possible, giving the opportunity to explore and study specific interests, as well as space to develop new, innovative solutions will keep employees engaged with their work and the company.
Tip no.6- Job Stability
Making sure that employees feel secure that their contract will offer them job stability is very important to keeping employees motivated and engaged. This is something that academic institutions usually cannot provide for non-tenured staff.
These top tips are designed to primarily motivate and engage your staff members so that they can do what they love and have studied for. One of the priorities you should have as a company is to have employee satisfaction high as it will inevitably have a positive impact on the company itself as well as the employees.