How to Retain Your Employees
/There is one thing that employers cannot afford to ignore: engagement and engagement with their employees. It's very easy to put out information and hire new people, but it's also very expensive to do that. Being the type of business with such a high turnover can make you quite unfavorable among applicants when they're looking for a job. If they notice that you're churning out employees faster than you're hiring them, then they're going to see there's something wrong with your retention strategy.
If you do not have any interest in a retention strategy, people are going to spot that pretty quickly. The biggest question that people ask is how they can keep their employees retained for longer. It comes down to being the kind of employer that people want to work for. For example, you can see why Wesley Financial Group is a great workplace and do your research on their ethos to understand how such a large company keeps its people happy. Research is your friend when it comes to retaining employees, but it also means that you're going to have to put yourself out there to ask your current team what you could be doing to be better. If you're not asking this question, then you're not ready to learn how to retain people. Let's take a look at some tips to help.
Recognize your employees' efforts. Sometimes something as simple as saying thank you to your employees for their hard work can be what you need to keep them loyal. Recognition of their effort is a critical motivational tool and if you're not recognising that effort, people are going to move on to somebody who will. It's such a simple thing to do, and while some employers believe that they don't need to give praise, it's also important for people to feel like they are needed and wanted in their jobs. Saying thank you isn't going to hurt.
You are providing your employees with the right resources. There is no use in having a remote first team if you're not interested in providing computers, headsets, and anything else that is required for working from home. Employees need to have everything in front of them to be able to do their work effectively. They need to have tools, materials, software and all the training necessary to perform well on the job. Your employee onboarding process should be reflective of this and once your new employees have logged into their system, they should be able to complete all HR forms as required. They should be a smooth and seamless process and not one that is fumbled.
Listen. Such a simple concept, but so many employers missed the boat on this one. Team members become more engaged and motivated to contribute to their job and to their company when they're part of a team. Not only that, but if their voices are heard and they are listened to, they are far more likely to be happier and want to communicate more with you. Asking your team for feedback on how to improve the workplace is really going to help here, but you need to listen to that feedback and implement it, not just use listening as a tool to pretend that you're doing something more.
Offer regular feedback. You don't have to have a constant stream of 1 to one meetings because as we all know, meetings can be a big time waster. However, in the moment when something goes wrong or goes right, give your employees the feedback that they need. If something is going truly terribly then you need to offer more training rather than just fire people and hope to hire somebody better.Investing in people means investing in their time as much as giving your time to them.
Offer training. If an employee comes to you with a request for extra training on a specific area. Dive into that. Regardless of the sector of your business, you should be able to provide your employees with opportunities for professional development. This often comes in the form of certifications or training in your industry umbrella. Many employees are interested in training to qualify for better promotions, and training allows employees to develop career plans that see them grow.
Collaboration should be encouraged. Instead of telling your team not to discuss or talk to one another during the work day, you should be encouraging collaboration as much as possible. Employees feel like they are valued as part of the team when they are able to converse with their peers, and they're able to converse with other departments. When people share their thoughts as a team, they are able to work together much more effectively and create a meeting with space that matters. Collaboration is vital, so make sure you are looking into your strategy to embrace and approach it better.
Offer flexibility. The Monday to Friday 9 to 5 is kind of going out of the window and it doesn't work best for all employees. Depending on their stage of life, it may not give them that work life balance they're acquiring. Being open to work with employees to create that flexible schedule will help to meet their needs while ensuring the work gets done. By giving employees the opportunity to become more remote workers, you'll be able to help them to balance work and family obligations. You'll be surprised how motivated they are to do better for you when they know that they are putting in the time and that you are giving them that flexibility.
Build from within. When you promote employees to higher positions, you're going to show your appreciation in its highest form. When a company advertises available positions internally, first and foremost, it shows confidence in its employees and their abilities to step up. If a new position becomes vacant at your business, then let people know. Allow them to apply and see whether or not they can crossover their skills from one department to the next.
Reduce those workplace disruptions. As an employer, you have the ability to reduce distractions in the workplace. Employees deserve to have a quiet, productive workspace to do their work. Uncomfortable workspaces with too much loud noise can reduce employee engagement levels. So this means you need to allow your team to use their headphones at work so that they can reduce the sound to a comfortable level for themselves. If you have the budget then providing noise canceling headphones is a great way to ensure that people feel like you are listening to them and you are ready to put them first.
Acknowledge special successes. Is someone on your team doing particularly well? If so, it’s time to acknowledge that and acknowledge it publicly. Mark your employee service with your company and their birthdays by sharing these special dates in the newsletters or posting them on the employee intranet. If you make a big deal of people in your office, then they will work harder for you.
Apologize when you get things wrong. It may not happen often, but sometimes things going wrong in your business could be your fault as an employer.It's important that you publicly acknowledge any mistakes that you make or any failings that you make. It doesn't make you a weak leader. It means that you are honest and transparent and people will respect you for it. It's important that people want to work for somebody who is ready to own any mistakes and show that they are learning as much as their employees are.
Don't make your employees fear you. It sounds ridiculous that there are employers out there who would make their employees feel bad, but there are plenty of companies that operate in a performance based workplace environment which can encourage employees to feel afraid to speak up. You should allow your employees to make choices without having to consult their managers first. Let them have some freedom and as long as the work is getting done, that's all that counts.
Organize team activities. Twice a year, at the minimum you should be organizing activities to host together as a team. Whether it's going to a sports game together or going on a retreat, getting together with your employees to have fun, have a nice meal and just connect. It's fun. It doesn't have to be about work. You could book an escape room or a bowling alley, or you can even go paintballing. Allow everybody to target you as their employer. Either way, organized team activities can really make a difference to how everybody engages together. The key to keeping employees engaged at work is by being attentive to their needs, and giving them some fun and balance is going to help them.
Retaining your employees is going to cost you a lot less than hiring new ones every 5 minutes. Don't be afraid to step up and improve your retention budget.