By | Nicolas BEHBAHANI | Global People Analytics Leader | LinkedIn Top Voice 2024 @ Future of Work with HR Analytics Strategy expertise
💡 Great Managers are the most powerful lever for delivering key emotional factors, and account for a 72% reduction in attrition risk, a 3.2x Increase in employee retention, and a 13.9x increase in satisfaction.
🧠 Roughly half of employees needs are functional, such as pay, hours, career advancement opportunities and the other half were emotional, such as feeling valued and supported, and doing work you enjoy among 20 different needs assessed to how important they were to employees, and their level of satisfaction with each one.
👉 Emotional needs dominated all five top needs identified when correlated with retention, while functional needs like pay plummeted to the bottom of the list.
📉 Employee satisfaction with their manager reduces attrition and increases motivation, satisfaction, and inclusion. But when manager capability falls, attrition risk can skyrocket, according to a new interesting research published by Boston Consulting Group (BCG) using data from 11,285 employees across the 8 following countries: US, Canada, UK, France, Germany, Australia, Japan, and India.
✅The importance of Emotional needs for retention
Researchers found an interesting link between departures and functional or emotional needs: