Give employees a sense of belonging for their commitment

(2 minutes to read)

According to Dr Ali Fenwick of Nyenrode Business University, a sense of belonging is just as important a retention tool as good pay and benefits.

A recent paper from Dr Ali Fenwick of Nyenrode Business University, examining common retention methods in the workplace, revealed that a sense of belonging is vital.

This is because identifying with the team, leader, brand and organisation is paramount to workplace commitment, as well as work performance.

Fenwick said, “The world of work is changing rapidly and we are seeing increasing numbers of professionals choose to become contractors or work remotely. For businesses, creating a committed workforce in today’s rapidly changing and digitalised environment requires the development of a social contract which doesn’t only include pay and benefits, but also provides pride, purpose, mastery, and a sense of belonging.”

The paper presents an improved model based on ‘identity leadership’ where managers use group identities to promote attachment and create a sense of shared purpose.For example, he suggests that core values, shared goals and meaningful work are important organisational tools for leaders to sustainably attach and engage employees.

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Fenwick added, “As a leader, it is absolutely vital to be able to communicate the values and purpose of an organisation, which not only helps understand the ‘why’ behind work, but also improves employee retention and engagement in today’s changing nature of work.

“Organisational socialisation practices such as newcomer onboarding and identity enhancing activities such as creating a shared vision are critical types to develop this psychological attachment, yet HR managers still mainly rely on transactional approaches to employee retention such as competitive salaries and benefits. They are widely overlooking the opportunity to inspire loyalty by encouraging employees to really believe in the company’s mission, which fosters a more durable psychological attachment.”

To find out more about contracting please contact James on 01442 795 100 or email james.trowell@dolanaccountancy.com

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, ContractorUmbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of ContractorUmbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, ContractorUmbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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