It’s much easier to keep what you have than search for something new.
There are many variations of this saying that rings true across many industries / business types and it’s interesting to frame this perspective on your employees, or as we like to call them – your talent, your lifeblood, your business.
Every employer knows that staff are the engine-room of any business machine and without them, your business fails not only quickly but spectacularly. Given the increasingly transient nature of staffing in the 21st century, talent retention and development is an important part of any smart business plan and should be implemented in a way that gives value to both your business’ bottom line and your staff’s wellbeing and productivity.
What if we told you that 60% of your workforce is thinking about leaving – right now, unless you do something about their working conditions. This sobering figure along with other startling insights like “Across most of the world, the percentage of adults with great jobs rarely tops 10%” has been brought to light in the Gallup report labelled “State of the American Workplace”.
Giving your staff simple options within their working environment is one of the simplest and often cheapest ways to make sure you are attracting and retaining employees in a competitive world. Let’s dive into a few ways you can keep and preserve the working relationship you’ve painstakingly built with your talent.
Flexibility in hours and work-life balance is a big factor in keeping staff happy
Giving employees a certain level of flexibility not only in how they work, but the hours they choose to work in is often a way to open up opportunities to secure and keep talent. Obviously this needs to work for your business, but if you take into account your staff’s personal circumstances and if you have available options like telecommuting (working from home) or flexible work hours around personal circumstances (sick children, looking after elderly parents, family commitments, etc) this will go a long way to making sure staff are committed to their role and dedicated to your company.
This approach helps to provide a certain give-and-take with trusting staff they will get the work done in the best way for their personal circumstances and work style. Sitting with key talent and creating a framework together is a sure-fire way to make them feel like they’re part of the business and not just another cog in the machine.
Responsibility and the opportunity for growth creates a rich working environment
There’s nothing more unmotivating for employees than coming into work every day doing the same tasks, the same calls, the same reports, week-in week-out with no change or growth. This is a recipe for stagnation not only for your staff but for your business. Humans are driven by challenges and achieving goals. This is evident by our adventurous nature and our love of sports and games where we literally celebrate when a goal is achieved.
By giving your staff the opportunity to grow, take on challenges and develop their professional knowledge you’re not only helping your staff become better at their job, but you’re also helping cement and maintain their loyalty.
Conducting ‘why you stay’ interviews can give great insight into what you’re doing right
Most businesses are familiar with ‘exit interviews’ and these are a great opportunity to find out the reasons why someone left, but it’s not very often companies complete ‘why you stay’ interviews. This is a great opportunity to speak with staff about the good, bad and ugly aspects of the business BEFORE they decide they’ve had enough and hand in their resignation.
The key to these interviews is to be open, transparent and implementing strategies after the meetings so employees can see you’re taking their feedback seriously. Find out what you’re doing wrong and fix it. Find out what you’re doing right and expand on that.
Hiring the right talent
This is where Top People USA can come into play with assisting you in choosing the right talent in the first place. We will put in front of you the right candidate with qualifications and temperament that will suit your business, your culture and the position you’re trying to fill. If you hire someone that isn’t the right fit, doesn’t have the right qualifications or doesn’t get along with your other employees there’s a good chance they will quit or other employees that are required to work with them will.
Make sure your talent is recognised and rewarded for hard work
Everyone working towards a common goal (like making a successful business) likes to be rewarded and recognised for the contribution they’ve made to the process. By implementing a strategy to reward your employees can help them to really feel part of the team. This can be as simple as a thank you card, a thoughtfully worded email or a surprise day off to say thank you.
This also links into team celebrations for when your team achieves something great. This doesn’t even have to be a large goal. Celebrating small wins is all part of fostering a great team environment.
Staff retention requires a multi-faceted approach
We’ve listed a few ideas here for staff retention and keeping your talent happy and challenged within their roles. In saying that, not everything we’ve listed is going to work for your business or staff. Keeping staff happy and engaged in their work is an ongoing process that requires diligence on behalf of all management and being open to changing how things are or have been done in the past.
If you would like assistance with recruitment or have questions about staff retention, please feel free to contact Top People USA today.