Employee retention is one of the key aspects to being successful in business, whether you have a giant corporation or a small company. Employers typically have extensive vetting processes in place when it comes to qualifying a candidate for a position and go through great lengths to find qualified personnel. That interviewee that meshes the qualifications required for the job and the ability to fit in with the corporate culture in your workplace is a special find. But the bigger issue at hand is keeping those employees once they run through that gauntlet. Now that you’ve found your star, you need to keep them on your team. The misconception is that the workforce should just be content to have employment. The reality is that there is competition everywhere for good candidates. Gone are the days when employees settle for a work environment that doesn’t reward them professionally and personally.
Keeping a star employee satisfied requires effort. It’s not about offering egregious concessions; it’s about expressing their value and providing some basics that everyone should be entitled to. Here are some ideas to keep in mind when assessing your employee retention strategies:
- Match the benefits being offered by other employers
If you are trying to attract the right employees, you must be competitive in compensation packages. It’s not just about the paycheck. Many companies are reeling in great candidates because they are offering premium healthcare. That is a huge concern today, and if you can offer a plan that is attractive, you might have a leg up on other companies. But it’s not just about paperwork. Flextime offers the type of scheduling that can attract talent, especially for young families. The ability to telecommute on occasion might be helpful to certain lifestyles. These are perks that don’t necessarily come out of your bottom line, and they could make the difference.
- Create a positive and comfortable workspace
We spend more time at work with our coworkers than we do with our families. The last thing you want to do is drive to work every day with a knot in your stomach because the environment is negative. There are many little perks you can offer that don’t hurt your budget. Bagels for breakfast or a Friday lunch can make a huge difference in the attitude of your employees. Environmental factors like proper lighting and temperature can even impact a person’s desire to come to the office. Let your employees know that you value their family and personal time as well. Be flexible when it comes to school plays and doctor’s appointments. But beyond that, get to know your team. Knowing what motivates your team outside of work can help you achieve your employee retention goals.
- Incentivize creatively
You don’t always have to provide an all-expenses paid Caribbean vacation to get the most out of your team. Even offering an hour “early out” on Friday can bring out the best in your staff. Motivate. Allow your team to come up with ideas for incentives. You’ll be surprised how well people will perform for movie tickets or a pizza lunch. Even simple achievement recognition makes a difference. Monthly top performers or most improved programs are inexpensive ways to show appreciation and value for your hard workers. Expressing gratitude is key to employee retention ~ make sure your gratitude is specific and attached to specific action or results.
- Promote from within
Aspiration is inspiration. If you see someone go from working beside you in a similar capacity to managing the efforts of others in your company it is inspiring. There is no better feeling than seeing a hard-working peer advance his or her career through performance. Employee retention can often come down to potential. And if a person feels like there is a chance to be rewarded for his or her efforts by moving up the company structure, he or she is less likely to look elsewhere for an opportunity. Offer training so your team can see the steps that are necessary to move up. Have your management team approach training with a hands-on approach. If employees feel like their managers are actively trying to help them advance, the probability of retention is high.
- Make sure everyone knows the company’s goals
You are on a mission together. If everyone is clear on the company’s goals and expectations they can approach their work on a united front. Inclusion is vital. Give clear feedback on what can be done on an individual level to help achieve the goals. If all team members feel like they can make a direct impact on the achievement of those goals, they maximize their potential and will stay with you to finish the job ahead.
The Everything DiSC® Workplace® changes the way you look at employee retention.
Knowing how your employees think is important, but so is knowing how your personality impacts the culture in your workspace. As a Certified Facilitator of the Everything DiSC® Workplace® Lori Gorrell provides the training and solutions you need to move your team forward… and Upward. Contact us today to discuss your employee retention strategies.