When it comes to the 2017 business objectives that are most important to companies and business leaders, Forbes reports that 87% of employers said that improving retention is a critical priority.
With that in mind, we explore the top staff retention mechanisms that employers and managers can adopt to keep their talent engaged, fulfilled and playing as a team to make valuable contributions to the company.
Reward and incentivise employees
Never underestimate the power of positive reinforcement in daily dealings with staff; it’s a way to make employees feel valued and know that their hard work is acknowledged.
Offering staff incentives to work towards, be they financial or through benefits like earning annual leave, is another way to inspire motivation and employee engagement.
At a recent hackathon, JobAdder gave away a number of Westfield gift vouchers to employees who came up with the most innovative ideas and suggestions to improve the customer experience.
Invest in training
Once employees are at a stage where they feel comfortable with their role, they need to know that their growth will continue and their skills will be built upon and become more advanced.
It’s crucial to invest in training for your employees at all levels, whether that be in the form of formal training and courses, such as managerial courses, or internal mentorship programs.
Did You Know…
According to the CIPD’s recent Employee Outlook Survey of Spring 2017, the form of training that employees said was most useful – with a 94% ranking – was learning from peers through face-to-face interactions or online networks.
Formalise culture-building activities
Workplace culture and fun can’t be a responsibility that sits only on the shoulders of the most social and lively people in the office. Put a framework in place around hosting regular culture-building activities and events, big and small.
Be conscious that not every employee’s idea of a good time is drinking beer, so make sure that there are a variety of inclusive activities that breed the right culture for your company.
Going out for regular Taco Tuesday-themed lunches or monthly movie nights, having different teams cook a company-wide breakfast every fortnight, celebrating staff milestones and successes by creating an internal messaging channel where people can share tidbits about their personal lives, travels, new pets etc.
Lead by example
Embody the values and behaviour you want to see in your employees. Being a decent person and a good leader who deals with all staff and clients equally and handles difficult situations well is inspiring for employees, and is likely to make them stay and follow your lead.
Did You Know…
Recent data by Glassdoor reveals that employees who give their bosses the highest praise in the form of approval ratings were those who felt their bosses displayed great leadership.
Ironically enough, most of these employees were in fact overworked and had poor work-life balance, but it didn’t affect the respect they had for their bosses.
Make work-life balance actually work
Employee work-life balance is a big priority for most companies in 2017. Set out an implementation plan to make it work across the board for all employees and teams. Not all staff can work from home on a regular basis, so introduce flexible hours or monthly days off. Staff will thank you for it and it will boost satisfaction and productivity.
At JobAdder, we offer staff the option to work flexible hours in order to work around going to regular classes, picking up children from school or working when they are most productive. Staff also have the chance to work from home on certain days during the week and to work remotely, a policy that means people don’t have to make a choice between travelling and working.
The competition for talent in today’s job market is tough, but by investing in these top ranking staff retention methods, you’re sure to keep employee satisfaction top priority and maintain the success of your business!