Ensure Your Employees Stick Around
Successful managers and business leaders understand that keeping a high performing team together is critical to business success. Here are a few ways to keep your workers on board and productive.
Employee retention is always a key focus of human resource departments. And it's not just the cost of replacing hired employees with new ones: Talent retention is key to any organization, and discontent talent is more likely to bolt in favor of greener pastures.
Obviously, the goal for any organization trying to retain its employees is to increase both morale and the incentives that come with the job. The onboarding process can be very useful in helping new hires get acclimated to their role in the company, but once that task is completed, onboarding's benefits stop flowing. Employees need a consistent flow of incentives and boosters that will keep them invested in a company for the long term. Here are a few ways your business can accomplish this critical task.
Employees like to know where they stand with a company. Depending on communication within the organization, a highly valued employee may not necessarily realize they have such a high standing within the company. Annual reviews are an easy way to make that clear to the employee, and to offer all workers guidelines that they can use to become more valued members of the team.
Employee appreciation days
It's a little thing in terms of costs, but it can go a long way toward boosting employee morale. Hosting quarterly, bi-annual or annual employee appreciation days is a simple way to let employees know that their work is valued and that their employer values them as people. Whether it's a simple pizza party or even an office outing to a fun venue, employees will respond well to these appreciation days, and it will improve morale throughout the year.
Be blunt and transparent when bad news strikes
Communication and transparency are key to a healthy work environment, and one that employees value. Too many companies prefer to keep their workers in the dark regarding any non-essential information, or even regarding decisions such as promotions, bonuses and other activity that directly affects workers.
As a business owner or manager, your employees will highly value your efforts to be transparent with them, even when you're conveying bad news. Plenty of businesses don't like to be the bearers of bad news for fear of backlash from the office. But in reality, employees are more likely to respond negatively when bad things happen and the business doesn't treat those occurrences as such — or, even worse, if their bosses refuse to offer any explanation at all.
Continued learning opportunities
Some businesses might be reluctant to offer continued learning opportunities for a couple reasons. In addition to the high cost this can carry, paying for education could ultimately help an employee exit the business. But that shouldn't be on the list of your company's concerns, mostly because employees will value the opportunity you provide them in terms of supporting their extra learning and training.
Employee training programs can directly benefit your business by training employees on certain software, procedures or other workplace responsibilities. And by offering discounts or credits for continued education, you are ultimately increasing the qualifications and knowledge base of your work force.
It might not be feasible to implement all of these ideas in your office setting, but any efforts you can make will be recognized and appreciated by your workers. In the end, your main focus should be increasing the value of your business to your employees — particularly the ones that the organization deems most valuable. Competition for the best talent is always intense, so if you sit idly by, you could end up losing some irreplaceable staff members.