Strong employee retention strategies are a major contributor to your team’s morale and productivity. Seeing others leave will undoubtedly raise questions among the group and can tempt them to explore their options.
Notably, when an employee leaves a company, they often take institutional knowledge, setting back business goals while hiring and dedicating time to getting replacements up to speed.
Alternatively, retaining employees drives the company forward, giving you the ability to grow faster by having consistency amongst your team and creating a supportive environment where the organization benefits from high performers focused on a common goal.
Setting aside some of the more obvious ones, such as compensation and work-from-home opportunities, which are not always obtainable for smaller companies or specific industries, let’s explore some alternatives available to everyone.
It’s often said that one of the main reasons people leave is a bad boss, so invest in leaders that live and breathe the company’s values.
Being available is as important as strong leadership. An absent manager leaves a poor impression when your team needs consistent communication to share ideas and receive feedback.
Regardless of their location, having an open-door policy to discuss work-related or personal issues ensures every individual feels appreciated and valued. This will ultimately help keep employees autonomous while supported and heard, which is essential for employee retention.
One of the best retention strategies is providing a healthy culture in which employees feel trusted and empowered, with the right amount of work/life balance for themselves and their families.
Today more than ever, this alone will determine whether people stay and contribute, disrupt the work environment, or leave. Hiring right, onboarding new hires, and embracing them into your culture is critical.
People typically make the decision on whether to stay long-term or not within the first couple of weeks, so take the time to celebrate your latest hires by rolling out the welcome mat for them.
Too often, we prioritize farewell parties over new hire orientation. Don’t fall into this trap. Make a difference that leaves a lasting impression on them and has your new hire singing your praises inside and outside the work environment.
A robust program that supports an employee’s physical and mental health is fundamental to a person’s well-being. A survey by SHRM on wellness programs determined that 45% of Americans working in small to medium-sized companies would stay at their jobs longer because of employer-sponsored wellness programs. Employers benefit from improved physical health, reduced stress in the workplace, and the financial benefits of a healthier lifestyle.
The survey found most workers are interested in wellness programs that improve their physical fitness, with many saying onsite or fitness facility discounts as a driving factor. 19% also expressed an interest in weight management programs. Overall, there has been a marked increase in offering access to fitness facilities, along with incentives being provided by major healthcare providers.
Tools & Technology
There’s nothing more frustrating in the workplace than having inadequate tools to maximize your efforts or inefficient processes. A company that invests in continuously evolving technology demonstrates a commitment to the business and people, offering opportunities to continue their education and advancing their value to the organization. Positive experience with workplace technology directly impacts morale, while a negative one can push workers to seek other opportunities outside the organization. Companies lacking reasonable tech tools and efficient processes ultimately put their employee retention at risk.
When reflecting on the issue of retention, there are four primary reasons why people leave your organization:
With so many options available to employers that affect retention, focusing on a few that resonate with your employee population can profoundly impact retention initiatives. Running a short survey can help determine what’s important to people before investing in ones that may show little return.
You’ve come to the right place. At ACA Talent, we help great companies and great talent find each other. Have any questions about what we can do for you? Looking to speak with a sales staffing expert? Please don’t hesitate to contact us today.