Having spent a considerable amount of time in the recruitment industry, we have gained a little insight into how to effectively retain your employees. Here are our top recommendations for a successful employee retention strategy.
Recruit retainable employees
We firmly think employee retention begins at the job interview stage. It is imperative companies clearly map out to the employee, the immediate and long term benefits, right at the offset. Recognition, flexible work arrangements, work-life balance and employee development are all examples of approaches that can become a part of the mix when creating retention strategies. It is so important to get retainable employees on board at recruitment level. Using a recruitment service will help you in that selection process. For example, one of the methods we use to recruit great candidates is that we “surface” people who are settled in their current position, who are consistent high achievers and who are not currently looking for a job. Seek and you shall find the best!
Set performance goals
According to Entrepreneur “study after study confirms that people have a deep desire to feel they’re succeeding and that their talents and capabilities are being used in a way that makes a difference to the business. When people sense their actions are fulfilling this desire, they begin to develop a sense of belonging and a feeling that your company is their company.”
Each employee wants to know they are succeeding, so it is important to set clear goals and objectives and conduct regular and consistent performance reviews.
You may or may not have won any awards for your company but we guarantee employees want to work for a successful business. This establishes employment longevity and pride in the company. Ensure you define what your company’s competitive advantage is. It could be your customer service, your product standards or the fact that you are locally owned and operated. Whatever it is, ensure your customers and your employees all know!
Whilst of course it is important to give your staff on-the-job training, it is also equally important to help your employees grow and expand. Offer cross-training and mentorship opportunities and create a leadership ladder that can help individuals earn the skills they need to move up. Good employees will welcome the opportunity to advance, not just stand still.
Two way dialogue
Managers and employers need to actively create an open rapport with employees. You don’t have to become best friends but taking the time to be friendly and engaged with your employees will reap dividends. Conduct employee surveys and create opportunities for your staff to feedback to you in an easy and informal way.
Well trained managers
“Employees don’t leave jobs,” says Steve Miranda, Managing Director of the Center for Advanced Human Resource studies at Cornell University. “They leave managers.” Up to 80% of employee turnover is caused directly by ineffective or overtly hostile management. Bill Gates, in the early days of Microsoft, reportedly memorized employee license plates to know who was at work but eventually he admits he had to loosen up! Ensure you train your managers in soft skills as well.
No lip service
Don’t approach employee retention half-heartedly. Everything you do should be part of a complete and overarching strategy. Doing a little, here and there will reap short-lived rewards in our opinion. The most successful way though to retain your best employees is to create a friendly and inviting work environment which promotes employee success and growth.