Strategies to Keep Staff Happy & Retain Best of Employees
26th November 2020
The shortage of talent in 2020 is worse than last year and the trend is here to stay.
Despite the uncertain situation and high layoffs reported with the COVID-19 pandemic, keeping your best employees is still a risk for many organisations that do not consider supporting the well-being of employees in this critical time.
The turnover rate is rising. In the UK, companies had an average turnover rate of 15%. It is necessary to know that when high turnover is bad it can jeopardise the company’s reputation.
It is important to discuss some effective tips that can improve retention, so here are ten proven employee retention strategies every HR person should know.
Know Why Employees Leave
There are multiple reasons employees leave an organisation. Having a better understanding of the reasons will help business owners and managers improve hiring and the many interconnected processes that come along.
At HR Online we know that It could be the bad company image, the poor office space, bad work or communication environment, common financial business mistakes inexperienced managers make, personal or family issues, a better offer, and the list goes on.
Let’s Talk about Work-related Stress
Burnout caused by work stress is an unseen factor that leads to absenteeism, low productivity, and also turnover. Plus, it can cause multiple health issues such as gastrointestinal problems, heart diseases, and mental health issues.
Remember that success needs refinement and sourcing constant feedback from both executives and managers is the one sure way to handle stress so no employee leaves because of stress. Remember that your team is the 7th marketing P and getting it wrong can make or break success for any company.
Nourish Clear-cut Expectations
Not having a clear grasp of job duties, policies, and performance metrics of performance can lead to frustration in all employee levels. Wrath in the office hurts morale to the point where people end up looking for a job elsewhere.
Luckily, the solution to the problem is simple:
- Communicate effectively with employees and let them know what the organisation expects from them.
- Share policies, job duties, and so on verbally, electronically through email, as well give them a hard copy.
- Make sure that all the policies are fairly employed.
Offer Opportunities for Career Advancements
You’ll be surprised to know that the real reason behind talented people leaving their jobs isn’t money or bosses.
Recent research focusing on psychology and motivations of 10,000 job switchers shows that the number one reason for seeking alternative employment is the need for better opportunities for career advancement.
That’s why creating employee learning experiences should be the sole focus of investment of HR budgets. Business and employees are best growing together. As simple as that. Look into what popular online courses platforms offer and execute staff surveys to get people excited and going.
How is this Valuable for HR Leaders?
Every recruiter wants to know why an excellent candidate leaves a company.
Moreover, this also implies that HR professionals should not only sell the job itself but also sell the future. In simple words, show employees at what heights a professional path can take each employee..
Let People to Speak their Mind
Today’s employees, especially the Millennials, love speaking their hearts out. Does your organisation solicit ideas that provides an environment, and an ever-improving employee experience where everyone can comfortably speak?
Evidence suggests that when employees express their ideas, criticism, and concerns with no fear, they perform better, and higher staff retention rates are acheived.
According to experts, fear and futility are two major factors why employees cannot or rather not speak. Many organisations encourage anonymous feedback, but here are three reasons why that could be bad:
- Anonymous feedback indirectly means that it is not safe for employees to raise issues publicly.
- It is natural that people would start hunting for the person who made a comment instead of focusing on the central issues.
- Sometimes, it gets difficult to protect the identity of the people who raised the issue.
If you are truly open to make work transparent, nourish a vocal culture in your organisation via systematic practices that allow people to share whatever they have in their minds, be it anonymous boards, feedback forms or surveys bringing gamification and awards.
Design Benefits Truly Beneficial
Benefits and perks should at least include health and life insurance, sick leaves, family leaves, retirement savings plan. Besides these, consider what truly aligns with the needs of employees.
For instance, holiday leaves might not appeal to employees who are also students. In this case, job flexibility, tuition reimbursement programs, and paid time off can all make or break the environment where people want to stay and flourish. Similarly, gym membership, child care, stock options, financial incentives, and sabbaticals are some popular benefits.
Don’t hesitate from soliciting employee feedback to learn more about their interests and preferences. Employees love organisations that care for staff comfort and well-being, that’s for sure.
Avoid Sudden Changes
While changes are inevitable, and all successful companies embrace dynamics.
It wouldn’t be wrong to say that humans rarely like a drastic change, right? Adjusting to new things makes people uneasy, and sometimes considerable amounts of effort.
Common examples of change include layoffs, technology implementation, change in organisational leadership, etc.
Unfortunately, frequent changes are a big reason people switch jobs. A study reveals that 62% of employees don’t like to leave their comfort zone, and this makes one quit.
Here are some effective tips for HR managers planning to implement a change:
- Define the change, why it is important, and connect it with business goals.
- Let people know how this change will be beneficial for employees (i.e. switching to digital record-keeping is time-saving, safe, and help employees generate reports quickly).
- Get the employee to buy-in.
- Understand barriers causing employee resistance.
- Provide training and personalised attention.
Understand that ‘People don’t Quit Jobs – People Quit Managers.
It’s likely that you heard this before, but do you really understand the meaning?
A managerial study of 2.5 million manager-led teams in 195 countries analyses engagement of 27 million employees and shows that 70% of employee engagement is based on relationships with managers. Moreover, 50% run away from their manager at some point in their employment tenure. That’s why it might be a good idea to invest in professional PMP training to improve managerial skills.
What HRs Should Know?
A good manager is the one who understands motivation and team members. An unofficial discussion at lunchtime or a one-to-one private meeting between you and employees is the perfect time to build rapport and talk about work or any non-work-related issues.
Tap the Hidden Strengths of People in Routine Work
- Does your organisation provide a chance for employees to showcase their strengths?
- Do you leverage every team member’s abilities or randomly assign tasks?
- Do you know the strengths and qualities of each member?
If your answer is “No.” to any of these, then you need to unleash the hidden skills of the unicorn-resume employee because:
- Employees are six times more likely to enjoy their work when they use unique strengths every day.
- 61% of employees feel truly engaged, and only 1% disengaged when managers focus on employee strengths.
- Employees aware of their strengths are 7.8% more productive.
- Employees whom management trusts are more productive.
Managers should empower employees and ensure that they know their strengths. Don’t assign them tasks that they cannot do.
According to experts, Dissertation Assistance, provide technical training, help in education, or even essay tests before assigning new or complex tasks. The best practice is to know their interest and skills and assign projects accordingly.
Acknowledge milestones (big or small)
Appreciating employee efforts plays a huge role in organisations. Don’t wait for employees to complete their 10-year tenure so that you can celebrate their work anniversary. Instead, use every chance to celebrate together with a shared coffee break or group lunches.
Understand why employee stay
There could be multiple or single reasons to stay or leave. The central point that matters the most is that employees stay where they feel respected, valued, and seen as an individual with their own needs, personal commitments, and goals.
If your gut feeling is telling you that your policies and practices inherently respect all of the things mentioned above, then you are well on your journey to keep your talented people for life.
Focusing on employee retention is important because employees are your biggest asset. Basic upkeep comes down to five basic:
- Relaxation Time,
Revisit your strategy and stay current on market standards for benefits, salary, and best standards because it allows developing stronger employee-employer relations and attractive workplace culture.
Dimitar Karamarinov is an award-winning digital multi-instrumentalist of background and skill in a wide range of digital mediums and multimedia starting as early as 2006. With over a decade of experience in audio, graphic, and motion design, along with various forms of business and communication, he gains experience with Entrepreneur Franchise top 500, Inc 5000, and multi-continent companies, along with various charity initiatives under his belt.