Make Intentional Investments
to Cultivate a Thriving Workforce.
It’s Worth It.
For now, let’s define workplace thriving as the experience of enjoying our work. It’s when we feel energized, engaged, and fulfilled.
By definition, cultivating a thriving workforce is beneficial for employees. What may be surprising, is that the investment also benefits companies and their customers. According to Gallup, business units with highly engaged employees experience a 10% difference in customer ratings, 18% difference in sales, and 23% difference in profitability.
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For reasons like this, companies like Microsoft are starting to focus on employee thriving.
Cultivating Employee Thriving
This model shows five keys to cultivating a thriving workforce. We start in the center, with the employee. This is because we each are unique. We have our personal “why,” our own values and priorities. Because of this, we each experience thriving in our uniquely individual way.
The 5 Dimensions to Employee Thriving
Around the employee, you’ll see five dimensions of thriving. As employees, we relate to these dimensions and prioritize them differently.
We find meaning in our work when we do work we enjoy, that we excel at, or that contributes to a cause we care about.
Covid brought employee wellbeing to the forefront. Since then, companies have been experimenting with different resources and people practices to help employees build mental, emotional, physical, and financial wellbeing.
When a company is maximizing employee growth and development, the company has a vibrant learning culture where employees are actively developing their skills, knowledge, and mindsets.
The final dimension of thriving is reciprocal value. This occurs when employees respect their company and colleagues, while also feeling valued for who they are and for the contributions they make.
​Connection is all about building meaningful relationships. When we have a strong experience of connection, we feel cared for, have a supportive relationship with our manager, and feel connected with one or more colleagues.
Company purpose, principles and practices
Surrounding the employee and the five dimensions of thriving, is the company. In order for employees and their company to truly thrive, the company must prioritize employee thriving by including it in their vision, mission, and/or values. Next, all the people and business goals, strategies, practices, products, and services need to align with that vision, mission and values. Obviously, this is no small task. It is an ongoing venture companies can take to continuously align and improve their work.
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Cultivating a thriving workforce is worth it
Research demonstrates the importance of cultivating employee thriving. For example, regarding connection, Gallup reports that perceived workplace isolation can lead to as much as a 21% drop in performance.
Efforts to foster wellbeing can save companies money too. According to Gallup, employee ratings placed greater work-life balance and better personal wellbeing as the #2 reason for being attracted to a new position. According to the Harvard Business Review, “…workplace stress leads to an increase of almost 50% in voluntary turnover.” Different studies report the cost of employee attrition at anywhere from 20 to 200%. Turnover can be expensive.
Cultivating a thriving workforce is worth it, for both humanitarian and business purposes. If you’d like to learn more, please contact me. I’d be happy to chat.
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Special thanks to Carrie Morgan for her collaboration in building this framework.