Even big companies may struggle with how to keep employees, but with the help of our experience and research, we have discussed ways you can improve employee retention policies and decrease employee turnover. Companies serious about keeping their talent set policies and programs to decrease turnover. Because the departure of just a few employees from an organization can quickly result in loss of morale and an unmanageable work load, it is important to take proactive measures, by adopting effective strategies to keep employees engaged, such as salary reviews, recognition programs, and opportunities to upgrade and reskill. With effective employee retention strategies, you will increase morale within your office and help to ensure your best workers keep working for you, and not for the competition.
More importantly, this employee retention strategy will enhance your recruiting efforts, as flexible working arrangements enable you to tap into a fresh pool of highly skilled candidates. Those who are successful at attaining a high rate of employee retention are operating at an advantage in meeting both company goals and recruiting new employees. Stable employee retention allows managers and supervisors to invest in their team members and help them grow as higher-performing employees. The bottom line is that by managing employee retention, organizations will keep talented, motivated employees who really want to be a part of the business, and are focused on contributing to the organizations overall success.
HR teams and department managers must do everything in their power to manage their employees in ways that will help them retain the best employees. Aim to foster an environment in which employees thrive and work at the peak of their abilities. The best way to retain your best employees is by creating a workplace, culturally as well as physically, that supports growth, health & well-being, and mentoring. Working with employees to set up an avenue to develop in their job is a good way to promote retention.
You can also invest in mentoring programs, in which highly performing employees engage with leadership one-on-one, helping to build their skillsets and setting up a clear pathway to advancement internally. Organizations can capitalize on the desire of their employees for advancement by providing structures such as mentorship programs and investing in more training for employees. Companies can boost engagement among employees by providing mentors, designing project-based teams, building cohesiveness among teams, encouraging employee referrals, and providing explicit socialization and communication of company values and culture, and offering financial incentives on a time-served basis or unique incentives that might not be as prevalent elsewhere.
Ensuring your employees are having a positive, engaging onboarding experience is just as important as making sure that your recruitment and onboarding processes are going well. Your onboarding process needs to teach your new employees about not just the job, but the culture of your company, and how they can contribute to and thrive within it.
Remind managers that the way your onboarding goes may impact the degree of connection an employee has with your organization for the duration of his or her employment. When a new hire comes aboard, pair them up with a long-time employee who can show them how things are done, serve as a sounding board for suggestions, keep them engaged, and help them adjust to their new workplace environment. Suggest ways that managers can meet with their new employees, and encourage them to schedule weekly one-on-one meetings while the new person is getting used to their surroundings.
Quarterly, biannual, or yearly career chats, in which Managers sit down with employees and discuss where they want to go, how they might get there, and what opportunities are available, are great ways to get hands-on. To make sure that all this happens, regular 1 on 1s are a hugely helpful tool for not just bringing your team together, but for learning about what motivates your employees, and how you can better empower them to do the best work possible for the company.
From there, managers can regularly engage in conversations about the larger company vision and job, and about unique opportunities employees are given because of their talents. Companies that are successful in keeping employees on board are rewarded with individuals who not only know their roles, but also work well together in teams.
When managers and supervisors strive to make their teams feel valued and motivated, employees are more likely to stick around for the long haul, which could help with overall growth and prosperity for the business Encouraging employees to take advantage of vacation days, building a culture of trust and mutual support, having quality off-the-job time together, and having a good, overall company-wide time management system so that you do not blow out deadlines…all of these things will make you more of a great employer in the eyes of your employees and candidates.
It may take a new hire as long as two whole years to achieve the same productivity levels of a current staff, so making them feel comfortable and competent from the start may work wonders in terms of retention. An experienced staffer will serve as the best asset to the new recruit, and vice versa, a new recruit may bring fresh eyes and new perspectives on the way things are done.