Employee Retention Strategies
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Staffing is one of the most important parts of all businesses. Companies need staff in order to operate and as a business, you want your staff to be the best and be treated like the best, resulting in them wanting to stay. Below are some strategies that businesses can put in place to encourage staff not to leave.
How long your employee will last within your organisation starts from your initial conversation with them. As an employer, you need to ensure you engage with them in a way that makes them want to work for you, this could be as simple as ensuring you have a clear picture of what you are looking for in the role and can articulate this. Don’t forget this is their first impression of your business! If you do get them on board you also need to have a proper and professional on-boarding process. There is nothing worse for a candidate then being excited to start a new role and they arrive and nothing is in place for an induction or there is no training plan. Most new employees will leave their first few day wondering if they have made the right decision. According to BambooHR, a leading HR software provider, a recent study of 1000 people showed that "16.4% of new recruits fall out within the first week." And this could very well be why!
Although not the be-all and end-all of a job, however money really does talk and people are motivated by money! Not only do you need to ensure you offer a competitive salary to staff, but you need to ensure you remain competitive. No matter how much someone likes a job if they can get more money to do the same job somewhere else they are going to be interested, it’s human nature. However, it is also important to look at this in a broader sense. What else can you offer your employees. Some organisations offer Health Insurance discounts, Employee Assistance Programs or discounted gym memberships. These are all benefits and staff will appreciate any sort of discount.
Training and Upskilling
Training is another excellent way to keep staff engaged and feeling like they are valued in the workplace. You can look into short courses, online seminars or even the standard First Aid and CPR, anything that is provided by the company during business hours is a great way to keep an employee around. Not only is it beneficial to an employer that an employee is upskilled, but it makes the staff member feel like they are valued and being invested in.
Communicating and actively listening are two very important things to keep in mind in the workplace. Staff like to be kept in the loop and communication needs to be open with everyone. Sometimes the lack of communication can cause a problem in businesses. In big business' the problem can be when Chinese whispers turn even the most minor thing into a big deal. This can cause staff to become disengaged and start looking for a new role. In small business' poor communication can cause staff to feel undervalued and discontent in their roles and the business in general. Although staff do not need to nor are they entitled to know everything going on, clear and effective communication can prevent some of these issues arising. Staff meetings, direct feedback and informal discussions are a good way to keep people feeling in the loop.
And lastly, celebrate the wins! Unfortunately negatives can be easier to focus on in life so that’s why it is important to also ensure the wins - both big and small, are celebrated! It doesn’t need to be formal, just an acknowledgement is enough for most people.
Overall people want to be paid well, feel apricated, be involved in decisions where possible, be considered for promotion, be challenged and be mentored. These are all important things to keep in mind when trying to retain staff.
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