It is every manager’s nightmare when an employee just out of the blue quits.
You are now not only faced with the challenge of filling the position but, also the financial implications that come with recruiting and training replacement employees.
While the majority of managers presume pay-related issues are the main cause of employees leaving, there can be several issues why they resign including:
- Employees feel the job or workplace is not what they expected.
- A mismatch between the job and person.
- Too little coaching and feedback.
- There are too few growths and advancement opportunities.
- Employees feel devalued and unrecognized.
- Employees feel stress from overwork and have a work/life imbalance.
- There is a loss of trust and confidence in senior leaders.
While paying your employees well will always remain the top priority when it comes to retention. Your companies initial overall strategy needs to be improved to make sure that all aspects of the employee experience are incentivized. Here are 5 effective strategies to keep your employees for the long haul:
1. Employee Onboarding
Right from the beginning, you should be setting your new hires up for success. From their first day in their new position to the following week and beyond. Aim to develop an interactive onboarding programme that not only deals with job orientation but also the companies culture and how they can personally contribute to it.
Personally introduce them to their team members on their first day and let them know how glad you are to have them onboard. Appoint a person that they can go to if they have any questions or concerns and follow up with them after their first week to see how they are settling in.
2. Recognize Great Work
Every person likes to be recognized for a job well done. Many companies incentivize their employees for reaching an end of month target or goal normally giving it to an individual and not recognizing a team effort. A simple thank you is enough for people that go above and beyond.
It is a great way to motivative your employees and make them feel valued and appreciated for the effort they have put into their work.
“People work for money but go the extra mile for recognition, praise, and rewards.”
– Dale Carnegie
3. Work-Life Balance
Burn out is very real. A healthy work-life balance is essential for everybody and employees need to know that management understands the importance of this.
Encourage your employees to take vacation time and if they have to work late to get a project over the line compensate them with time off at a later date to increase job satisfaction.
Depending on your company’s size and the type of work that is required offering a flexible schedule where possible can prove very effective. When your team members are well-rested and have adequate time to care for themselves and their families, they will also perform better at work.
4. Beneficial Benefits
Offering a benefits package that is truly beneficial will go a long way. People care most about affordable health-insurance, life insurance, and retirement saving plans. Beyond these commodities benefits that would truly serve the needs of employees should be considered. Some of these may include childcare, gym membership, travel expenses. Saving your employees money is the objective and will help not only toward employee retention but also towards candidate attraction.
When your workforce feels connected, it gives them purpose. It helps them carve out a niche within their department or team. It also helps them see how they are contributing to big-picture objectives. You can bring out the best in your workforce by allowing them to express their ideas, recognizing their contribution and empowering them with the tools and information they need to grow. We all like to think of our employees as strong people, capable of adapting as necessary. Providing them with opportunities to learn is a great way to embrace this.
But without ongoing communication – especially with regards to the status of their job – your workers can begin to feel fearful for their future in the company. Staying connected with your employees helps develops trust and diminishes uncertainty in the workplace.
How do I know if my employees are happy?
Asking them is a good start!
As Entrepreneur magazine says “study after study confirms that people have a deep desire to feel they’re succeeding and that their talents and capabilities are being used in a way that makes a difference to the business. When people sense their actions are fulfilling this desire. They begin to develop a sense of belonging and a feeling that your company is their company.”
The magazine goes on to say, “it’s not enough for you to give vague (if well-intentioned) feedback. Your employees actually want to see the results of their work. They want to have that concrete object that they can rest their pride on. They need to see the results with their own two eyes.”
Consider implementing a regular employee survey, whereby employees are asked for quick-and-easy-to-give feedback more often during their employment year.