Bob’s Corner: How can organizations retain top talent? Happiness matters.

Published 8/3/23

Over the past few years, many industries have been impacted by the most significant talent shortage in two decades. This gap in the workforce stems from a few factors, including the Great Resignation of 2021 and 2022, a wave of mass retirement, and a growing disinterest in more “traditional” industries from younger generations. Employee expectations are also at an all-time high for not just equitable pay and benefits, but for an emphasis on work-life balance, creating additional pressure for employers already struggling to attract talent and reduce turnover.

During this time of depleted resources, organizations across all sectors must do more with less while continuing to provide excellent service – otherwise, customer satisfaction and retention are at risk.

InvoiceCloud believes customers benefit from corporate HR programs and policies that focus on great recruiting, employee retention, and professional development. These efforts are designed to ensure customers receive superior support from knowledgeable, highly skilled support teams. To truly help your office bridge any talent gaps you might be facing (or reach your business goals) it is imperative that we provide staff members your team can rely upon, folks who have built up years of vertical domain experience and are invested in their customer relationships for the long haul.

To accomplish this, we have implemented recruiting and retention methodologies that demonstrate a commitment to our talented workforce and their robust lives both in-office and out. This includes referral bonuses, stock options for all, professional development opportunities, and an emphasis on supporting employees’ personal lives. Besides an expanded parental leave program (16 weeks of paid leave for primary caregivers and four weeks of paid leave for secondary caregivers), employees receive premium Care.com memberships, flexible spending accounts for dependent care, and three company-wide mental health days in addition to annual paid days off and more.

It seems to be working – already this year, we’ve been honored as one of Energage’s 2023 Top Workplaces in the USA and one of Energage’s 2023 Top Workplaces for Leadership, Innovation, Work-Life Flexibility, Compensation & Benefits, and Purpose & Values.

Offering these benefits tends to attract “A” players from the talent pool – and that’s certainly been the case with the team at InvoiceCloud – but the next trick is keeping these talented employees. In my experience, employee happiness is found for those who:

1. Know where the ship is going (company vision)
2. Understand how their role helps achieve the vision (purpose)
3. Build positive relationships with co-workers, customers and/or partners (friendship, belonging)
4. Feel like they are making progress for customers, themselves and others (satisfaction)

As managers, our job is to remove barriers that prevent our teammates and customers from making progress. Of course, staying actively in touch with what teammates are appreciating and what they need is critical, which is why we conduct semi-annual surveys with all InvoiceCloud teammates. Receiving this direct feedback allows us to make necessary changes and fully support the staff that’s supporting you. By helping our employees in many facets of their life, they’re able to bring their authentic selves to work with your team and to driving InvoiceCloud’s desire to put you, our customers, first.

Hope summer is treating you well! Bob