5 key retention strategies to keep your employees engaged, motivated and happy at work.
The average amount of time that a person stays with a company according to our insights and research is 16 months!
When you think about the amount of time you invest into on-boarding, training and developing that person, your return of investment is very low.
So how can you prevent your employees from leaving your business?
1. Understand your people
Everyone is unique and will have different motivators. Some will want more flexibility, others will be driven by growth and career development, and some could be motivated my financial rewards. Knowing what drives your employees will ensure you insentience them in the best way.
“People don’t leave bad jobs they leave bad bosses.”
2. Train and develop your leaders
The saying goes “people don’t leave bad jobs they leave bad bosses.” I often see people getting promoted into management positions with no guidance or training. This can cost you dearly. Managing people well is a talent that requires a lot of softer skills that we don’t get taught unless we go out of our way to learn. Offering training around emotional intelligence, empathy and mindfulness can ensure your management are developed into amazing leaders.
“Your brand isn’t just what you put out on social media, it is what customers say about your product or service behind your back.”
3. Build a brand people are proud to work for
This all comes down to your market perception. Your brand isn’t just what you put out on social media, it is what customers say about your product or service behind your back. Build a brand with a clear mission statement and a strong set of values so your employees turn up to work everyday motivated to make an impact.
4. Create a great culture
This all comes down to your mission and vision. If you want a good culture you need to create a collaborative work environment where everyone enjoys coming to work and supports one another. Have regular team events to encourage team building, for example lunches, social events, book clubs, lunch time yoga or running club. It doesn’t have to cost a lot and it goes along way. If people get along with their co-workers, they are less likely to look for new opportunities.
5. Keep up to date with what other companies are offering
It’s important to know what other companies and especially your competitors are offering their staff. For example what salaries do they pay, is there remote working options, more annual leave, exciting social events etc.
Every time someone leaves your business you should want to know why and what the company they are joining has offered. This information is invaluable. It can be hard getting to the route of the cause but unless you want more people to leave this is conversation that must happen.
“A company is only as good as its people so don’t loose your top performers”