We talk a lot about how to recruit the best employees for your company and rightfully so. Building the best team in your industry is the first step in making sure you outperform your competition. Even after you’ve built that group of all-stars, it’s important to remember that you can’t stop there. Employee retention is an ongoing process and requires continuous monitoring and improvement. If you find that your turnover rates are higher than you’d like them to be, take a look at a few of these tips and see if there’s anything you can implement today.
- Build the right team. Having right people working for you is imperative for a successful workplace. Your employees need to contribute to the entire team and perform well, but you also want to make sure that they’re not bringing any negative elements into your culture. In the same sense that a detailed recruitment and candidate screening process will help you hire with quality, make sure you also have a strategy to fire people before they cause other great people to leave.
- Competitive benefits and salary. This is a no-brainer. Consider your local supply and demand, as well as each employee’s seniority and skill level and ensure you’re compensating them appropriately. Perceived fairness, or lack thereof, is a common reason people leave an organization. You may also want to consider benefits, and not just the standard ones. Small, unique perks that help simplify peoples’ lives can go a long way in making your employees happy. For example, some organizations arrange dry-cleaning.
- Comfortable work environment and culture. Forget the exciting and unique cultures we often read about for now, but consider the most basic elements. Do people in your office feel safe at work? Are the work areas well-lit and set a reasonable temperature. If employees have a negative feeling about their workspace, it’s setting the tone and will contribute to any issues there having elsewhere in their job.
- Help people excel. People become motivated when they achieve their goals. When managers set time to regularly review those goals and find out what employees need to accomplish them, such as training or specific tools, it results in higher engagement for the employee. Goals can be both professional and performance-based. Reviewing performance goals means it’s clear what’s expected of them, so it’s easy for the employees to take ownership of work towards success in their jobs.
- Encourage communication. Without great communication, simple conflicts get blown out of proportion, turn into fights, hurt long-term working relationships, and result in people leaving or being dismissed. Give your team the tools and freedom to communicate properly and avoid these situations. Great internal communication also means letting people get to know each other on a personal level, which makes coming to work less of a chore and more of a place they want to be. Finally, encourage communication with the top and allow suggestions to help make the company perform better. Some organizations have “Stay Interviews”, as opposed to the standard Exit Interview, where they talk to those employees who have stuck around and learn more about what makes them want to stay.
- Recognize accomplishments. Proper recognition is a giant motivator and often contributes to an employee’s longevity with a company. It can be achieved through any number of ways, including large prizes or contests, but also through simple means like hand-written notes or an invitation to an industry event.
- Have outstanding leadership. There’s an old cliché that people don’t leave a company, they leave a boss. That doesn’t necessarily mean that firing any manager with high turnover will increase employee retention, but providing managers with the proper leadership training will contribute to successful retention strategies.
What would you add to the list? Do you have any other experiences that you find contribute to employee retention? What about sure ways to ensure employees up and leave the company? We’d love to read about them in the comments below!