Ten Tips to Retain Top Talent
For many, the recent years have been a pressure cooker. Businesses across the world have been forced to make unexpected pivots and staying safe and healthy has moved to the top of every agenda.
Millennials and Gen Z are entering the workforce in higher numbers and have a lacklustre relationship with their jobs. Unlike past generations, jobs are no longer seen as a long-term commitment and jumping to the next offer with a more attractive proposal has become less of a concern. Employees can afford to be selective.
When it comes to employee retention, there are a myriad of things employers can do but as we explored in our recent webinar with Umbrella Wellbeing, there is no sense in addressing problems that don’t exist. Just as every organisation is different, so are the people within it, therefore to truly provide your employees with what they want you must begin by understanding what they need. No strategy will overcome a lack of empathy or appreciation for your employees.
The idea of losing a job today, while still nerve-wracking, is much less frightening than it may have been a few years ago. For many, remote, hybrid and flexible work options are increasing and with so many choices, employees aren't as afraid to move on as they used to be when a job no longer serves them.
Below are our top ten tips for supporting employee retention.
Tip 1: Have an exceptional onboarding experience
Just because you’ve brought a new hire on board does not mean the hiring process is over. From the moment a new employee walks through the door, it's important to make them feel welcomed and valued. This means having a well-organised onboarding process that helps them settle into their new role and surroundings.
Take time to introduce the new hires to their co-workers, show them around and give them a detailed overview of their job responsibilities and what is expected of them. Don’t forget to also provide any necessary training or resources they will need to be successful in their role. Check in with them regularly during their first few weeks on the job to see how they are settling in and answer any questions they may have.
Taking the time to make sure your new employees feel comfortable and supported will go a long way in making sure they have a great onboarding experience.
Tip 2: Recognise hard work
Job satisfaction is not just about the salary. Employees need to feel that their hard work is being recognised.
There are a number of ways that employers can show appreciation for their staff. From simple verbal feedback to more formal awards and recognition programmes, appreciation can be shown in many shapes or forms.
Regular appreciation can go a long way in supporting employee retention. As a result, recognising hard work is an important part of retaining good employees and can also help to motivate staff and encourage them to maintain high levels of performance.
Tip 3: Flexibility with schedules
There’s no doubt that the effects of the pandemic have changed the expectations of employees when it comes to remote and flexible working. Gone are the days when 9-5 was the only option; today, employees are looking for ways to better balance their work and personal lives.
While there may be some advantages to having a rigid schedule, such as predictability and stability, there are also plenty of benefits to offering more flexible options. For one thing, it can help to increase productivity by allowing employees to work when they are at their best. It can also lead to higher job satisfaction and improved morale.
In an increasingly competitive marketplace, employers who can offer flexible scheduling options will be in a better position to attract and retain top talent.
Tip 4: Make professional development a priority
Your top talent is already great at what they do, but when they’re ready to continue enhancing their skills to become even better it’s important to invest and support them in their personal and career development growth.
In addition to contributing to a positive culture, when you develop employees through a professional development programme, you also generate a pool of potential new leaders from within your company who are prepared to succeed. By strategically creating, managing, and delivering personalised training programs to employees, this will support improved overall employee engagement and retention.
Tip 5: Communicate openly
As an employer, it's important to always communicate openly with your employees. This sets the tone for your workplace and helps to create a positive, productive environment.
Honest communication can help to prevent misunderstandings and conflict. Of course, there will be times when employers need to deliver difficult news but keeping a transparent and respectful dialogue will help keep the line of communication open between employees and leaders. Open communication is essential for building and maintaining a healthy, happy workplace.
Tip 6: Celebrate the wins - big and small
As an employer, it's important to celebrate the wins - big and small. When your team comes together and achieves something great, it's a cause for celebration. Not only does it build morale and motivate employees, but it also shows that you are willing to invest in your team's success.
Similarly, when an individual employee goes above and beyond, it's a good opportunity to show your appreciation. A simple thank you can go a long way in making your employees feel valued and appreciated. In today's competitive job market, it's more important than ever to create a positive and supportive work environment.
No matter how you choose to celebrate, the important thing is that you make an effort to show your employees that their hard work is noticed and appreciated.
Tip 7: Provide paths to career advancement
An increase in salary isn’t always the answer to keeping employees happy and engaged; there are other factors that are just as important, if not more so. One of these is the opportunity for career advancement.
Employees who feel like they are stuck in a dead-end job are likely to become disillusioned and disengaged, even if they are well-paid. On the other hand, those who feel like they have a clear path ahead of them are more likely to be motivated and productive.
Check-in regularly with your employees and ask them what they want and expect from a professional development perspective, whether that’s undertaking further training or qualification, wanting mentorship programs, or needing clarification on their growth within the company.
Tip 8: Have a clear purpose
When it comes to running a successful business, one of the most important things for employers to have is a clear purpose. Without a clear purpose, it can be difficult to make decisions, set direction, and motivate employees. A clear purpose gives employers a north star to guide their actions and ensure that everyone in the organisation is working towards the same goals and that any potential conflicts can be quickly identified and resolved. It also helps to build trust between employees and their leaders, as each knows the other is committed to the success of the business.
In the words of Simon Sinek, “people don’t buy what you do; they buy why you do it. And what you do simply proves what you believe”.
Tip 9: Invest in employee wellbeing
Employees are under more pressure than ever to be productive. With long hours and increasing demands, it's no wonder that so many workers are struggling to maintain a healthy work-life balance.
Investing in employee wellbeing is not only the right thing to do from a moral standpoint, but it makes good business sense. There are a wealth of wellness programmes out there so it’s important to check in with your staff to find out what it is they’re after and from there establish how you can best support them. Investing in your employees' wellbeing is an investment that will pay off in the long run.
Tip 10: Build a deep sense of community
As humans we are inherently social; understanding that creating a strong sense of community in the workplace is nothing new to business leaders. There are a number of ways that employers can build a deep sense of community within their organisations. One way is to create opportunities for employees to interact with one another on a personal level. This can be as simple as organising social events or providing space for employees to interact and socialise in the workplace.
Another way to build community is to provide employees with the opportunity to get involved in charitable activities or community service projects. This can help employees feel like they are part of something larger. When employers take steps to build a strong sense of community, they create an environment that is more enjoyable for everyone involved.
Investing in your people and showing that you care about their wellbeing and future can go a long way when it comes to employee retention.
What have you done recently to show your employees that they matter?