How to positively impact employee retention in your company
These days, most business owners are perfectly aware that despite the latest-gen tech, extensive set of tools, or air-tight business model, the success of their company ultimately depends on their employees. If they are not properly motivated, sufficiently engaged, and capable of working as a well-coordinated team, your organization will never realize its potential and be able to operate with optimal efficiency.
Keeping that in mind, we would like to point out that attaining the qualities we have mentioned above is near impossible if your company features a high employee and constantly need to rebuild team spirit.
Let us take a look then at a couple of strategies that will help you to positively impact employee retention in your company and make sure your workers have an opportunity to thrive as a collective.
Create an inclusive and transparent corporate culture.
This is the foundation you will build all of your subsequent efforts so make sure to get this off the table first. Essentially, if you ever want to make your employees feel at home and think of their co-workers as extended family, you should create an environment devoid of any kind of harassment, scolding, and unpleasant remarks. Also, your company should encourage open and transparent communication where everyone will feel invited to freely express opinions and have those opinions considered. Also, all the decisions you are going to make need to be explained and made in agreement with the workers.
Leverage the power of recognition and rewards.
Both these assets can prove to be of tremendous value in building the workers’ loyalty to your business. They become even more effective if we take into account that, according to a recent survey, as many as 80% of US workers feel they don’t receive any recognition whatsoever. So, feel free to make use of any effort on behalf of your worker with at least some sort of verbal and social commendation. If they continue putting out consistently good performance, you should start introducing tangible rewards. Just make sure you have a clearly defined and widely published reward system to avoid rumors of favoritism.
Get to know your employees.
Performing any kind of sensible HR engagement actions implies that your HR experts have sufficient data they can build their strategies around. So, make sure they have something to work with and subject your workers to frequent surveys and questionnaires that should cast some light on their worries and the obstacles they are facing. Since this form of data collection can become very dry and counterproductive it is highly recommended that you use professional human resource surveys and survey templates made by HR experts. With the right tools, there is no limit to how much quality material you can get.
Pay attention to the onboarding experience.
Generally speaking, companies don’t usually like to put too much effort into onboarding hoping their new workers will pick up the skills they need along the way and gradually become more integral to the workflow. Still, this strategy creates tons of issues, knowledge gaps, and weak spots that only become worse as time goes by. Being unable to perform their tasks with optimal efficiency and fearing to ask for help due to the fear of scolding, the workers only become increasingly dissatisfied with their job until they decide to leave the gig. Avoid that with a comprehensive, leisurely-paced, and gradual onboarding process.
Offer flexible work models.
People like to believe that high efficiency comes from rigid routines and air-tight workflow. What these assumptions fail to take into account, however, is that people are not capable of maintaining high levels of performance over an extended period of time and have different peak periods throughout the day. With that in mind, we would like to point out a recent survey where 43% of respondents said the flexible work hours actually helped them achieve a higher level of productivity. On the other hand, using these types of work models has a tremendously positive impact on staff morale so it’s really a win-win situation.
Pick the right employees.
Last but not least, we would like to remind you that all of your efforts to improve employee satisfaction will ultimately fall flat if you are working with a crew disinterested in your industry or lacking the personal ambition to push their abilities to the very limit. So, use the recruitment, screening, and interview process to the fullest extent and see what candidates have the personal qualities that will truly make them a part of your future team. Also, keep in mind that technical skills and other business-related activities can be refined during the onboarding stage. Soft skills, personal traits, and drive to move forward take much more time to get in shape.
So, these were the top six strategies you should use to make your company a more inviting place and improve its employee retention. After all, employees are the heart pumping blood through the veins of your company. Its success may as well depend on workers’ ability to work efficiently and in unison. That, in turn, is very hard to accomplish if you constantly need to reassemble the crew. The tips we give you will prove to be quite effective in making this problem go away.