Retaining employees is what makes a company thrive. If you have great people working for you that are skilled, qualified, and enjoy coming to work every day, it makes a noticeable difference in the company. Quickly going through employees is expensive and bad business practice. There are several practices you can include at your business to help keep employees around for years. If you’ve been experiencing low retention rates and aren’t sure why, you can use some of the following strategies to help turn that around. Today you’ll read about 7 strategies that are commonly used to keep employee retention high.
So you don’t have to work backward down the line, start by hiring the best person for the company and the job available. There are 8 steps to hiring the right person for your team, which can include starting them out as an intern or giving them test scenarios that have specific solutions, for example. You don’t want to waste your time and energy hiring someone who’s going to quit after a short period of time. During the hiring process, be honest about what the job entails. Clear communication is necessary when it comes to successfully running a business and hiring people.
There’s a saying, “people don’t quit jobs, they quit bosses.” Ask a few of your friends or colleagues if they’ve ever left a job due to a boss or manager they had, you’re likely going to hear most of them say yes. Making sure your managers are properly trained for a leadership position is crucial. Once you have a team, making sure they’re on the same page during a shift can make a positive difference. Having managers that are great leaders should be able to give positive affirmations and encouragement to employees, as well as talk to people about how they could improve or if any issues come up.
There are plenty of ways to become a business your employees love and shout to their friends about. You could start by volunteering or donating to charities, if you’re a small business, considering donating to local charities. You could have your company sponsor a little league team if you have a lot of employees with children. Your company could give grants and help students with scholarships.
Lastly, invest in your employees. Doing so could mean taking an employee trip with their families for a couple of days or if you don’t have a massive budget, have a company picnic that your employees can bring their families to. If you want to do something a bit more regular, consider something weekly or bi-weekly that your employees can look forward to every month.
Just remember, your employees don’t live to work, they work to live.
Have you ever worked in a boring job? If you have, you know you may have spent time on the clock looking for a new, more engaging job; clearly, this isn’t something you want your employees doing. If you find that your employees seem to be unmotivated or disengaged, call a meeting. Give your employees the floor during the meeting and truly listen to what they’re saying. Ask what could you do to help make work more engaging or fun and ask your employees what motivates them to work towards goals. Be sure to follow through on the suggestions. Listening to what your staff would change is half the work, coming up with solutions and putting them into place is the other half.
Did you know that besides bad management, money is the next reason people look for other jobs? In order to keep employees, you need to have advancement opportunities in place, along with great benefits. Make sure any benefits you do offer are ones your employees can use. Look at what your competitors offer for wages and benefits, and set that as your minimum to create a want for employees to stay, instead of going to a competitor. Now, this is a lot easier said than done, and though it’s an important way to keep employees employed with you, it’s not the only way.
We all know that work can affect our health, and our health can affect our work. Having a healthy work-life balance is incredibly important. When employees start to burnout is when they can start considering leaving. Making sure you and your employees get to enjoy your lives outside of work to the fullest is crucial to your health and the employee retention of your company. You can help reduce stress by paying attention to the workload the staff is given. If it’s too much, what can be done to reduce it or delegate it more? Is it possible to have people work on teams? Are employees able to work from home occasionally to de-stress? These questions serve as another opportunity to ask people what some of their ideas are to reduce stress. Doing this will give you ideas to consider and help the employees feel heard.
The leadership in your company doesn’t have to come from those who are higher up in position. Leadership is a quality you should look for in every person you want to hire. People who are leaders tend to share some of the same personality traits. You want people you have goals, and who can communicate the steps needed to accomplish said goals. Leaders inspire others and challenge them to be the best they can be. Be sure to have people around that are high-quality employees, who are also great leaders, that can give and take direction to better their experience at work and the company's standards.