Finding the right person with the right skills, experience, and attitude is no easy task. So, when you’ve finally found the unicorns you’ve been searching for, you want to make sure that they stay with you for as long as possible. After all, recruitment is far from cheap! Whether you’re an entrepreneur looking to start your own company or a manager at an existing organization, you want to know how to retain employees and keep the talent you worked so hard to source.
Read on as we walk you through your options and give you some ideas on what employee retention methods have worked best for other businesses like yours.
Here are the Best Employee Retention Strategies :
Set the Tone When Onboarding
When welcoming a new team member, be sure to do so with your company culture front of mind.
Carefully managing expectations will ensure that they are clear about what you expect from them from the get-go. People don’t like surprises – certainly not when they’re accepting a new position. Therefore, fostering an environment of direct and transparent communication and encouraging free speech is a great jump-off point.
Additionally, this is the perfect time to show them who you are and highlight the positive culture in your company. You can do this by focusing on the little things: ensure that their workspace is set up and ready for them, all technical permissions have been arranged, and they have a clear guide to work from. A company welcome pack will also serve to underscore their value and introduce them to your brand.
Successful onboarding spotlights the long-term commitment required from both sides and is the perfect place to start.
Retaining Top Talent Through Recognition
Respect and employee recognition are critical parts of retaining employees.
It’s easy to fall into the trap of just disciplining employees when they get it wrong. Yet when you take the time to catch someone doing something right, and then celebrate it, the effect is powerful. Without proper recognition for a job well done, it’s too easy for employees to seek satisfaction elsewhere.
Make sure your staff knows they are important to you and that their efforts are noticed and valued. Public recognition, celebrating achievements, and impromptu bonuses are simple ways to do this. Smart companies are investing in corporate gifting to provide tangible proof of this by way of carefully curated, thoughtful gifts for their employees.
Ask yourself how your management and culture make your team feel. And build on that.
Offer Growth and Responsibility
Employees leave when they feel stuck. No matter how happy they are with their team or their salaries and benefits, if a productive employee feels like they’re going nowhere, they may look for an exit.
The desire for growth and development is a natural part of human nature. Effective talent retention starts with appreciating the importance of this fact.
When you know your team and what makes them tick, then you’ll start to understand what matters most to them and how you can facilitate their growth.
For some, it will be a ticket to the corner office and more responsibility. Others may thrive in a space that allows for personal development in their niche. Still, others would appreciate the opportunity to mentor new or younger employees and help them to grow.
Work hard to give your best employees whatever they need to be more engaged and fulfilled in the work environment. Isn’t it better to keep top talent happy – even in an alternative role – instead of losing them altogether?
Reward Excellence
People who feel appreciated will always do more than expected. And when your employees feel valued and are properly rewarded, they’ll be more likely to stay with you.
This concept spills over into the all-important aspect of remuneration. Top talent is a valuable commodity, not only to you but to your competitors. Be sure to offer above-average salaries and benefits that matter to the individual. The added expense will almost certainly be greater than the cost of training and replacing a new employee, not to mention the disruption of losing a key team member.
Identify those on your team who are performing well and track their development. Show your appreciation for their diligence by investing in these people, offering further opportunities to grow and develop.
Employee retention doesn’t happen by accident. Set up a process for recognizing and celebrating excellence among your team members.
Work-Life Balance
Yes, you want to get the best out of your team and enjoy maximum productivity. But doing so at the expense of their personal lives will end in failure.
As humans, we don’t live to work – we work to live. Each of us has people waiting for us at home and responsibilities towards friends and family.
Companies must appreciate the fact that their top talent is likely to be diligent players in all aspects of their lives – it’s just who they are. They need the time, emotional freedom, and mental capacity to live life outside of work.
Creating this work-life balance can come in the form of flexible working hours, additional time off for family responsibilities, or the option to work from home at times. Show you care by getting to know your employees on a personal level so you can quickly identify stress and anxiety caused by a sick child or long hours away from home.
Retaining top talent means knowing what matters most to them and ensuring they get it.
Retaining Remote Workers
It is common for your best employees to work remotely in today’s landscape, even from different states or countries.
How can you keep them engaged with your company?
Remote workers tend to have different needs and methods of working, so you may consider the following:
- Encourage great work with a selection of corporate gifts
- Ensure that you are paying market-related salaries
- Create a task-based as opposed to a time-based environment
- Set clear expectations and don’t micromanage
- Set up systems for fast, clear, and open communication
- Allow for flexible schedules
Keeping remote workers engaged and productive also entails getting to know them personally, perhaps celebrating birthdays or anniversaries with them to show you care.
How to Retain Employees
Employee retention methods will vary depending on your company, but the foundations remain the same.
Businesses that know how to retain employees understand that people want to feel valued, recognized, and appreciated – no matter what form this takes. They want to know that they’re going somewhere and that their efforts make a difference. They need to see and feel the respect and individual care from their management team in action.
Givenly provides an easy route to happy employees with a selection of beautiful, practical, and fun corporate gifts. Set up your account here and let’s get gifting.
