Quick Tips for Employee Retention

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DOWN TO BUSINESS…

 

Y’all, I think retention is one of those things that kind of spans the whole of your business… BUT Customer retention HINGES on the value you assign to Employee Retention.

So how do you show them how much you love and appreciate their hard work so you can retain them longer??

1. Salary And Benefits Must Be Competitive

A recent Glassdoor survey of people found that for 45% of employees who quit, the top reason is salary. Although… only 24% of “Generation X” employees say that financial stability motivates them to stay in a job. Yet 56% of employees say that health care and insurance concerns keeps them in their job.

Benefits that are actually beneficial matter. Money matters.

2. Hire The Right Person At The Start

  • Be HONEST about your expectations – DO NOT sugar coat this job – the good, the bad and the UGLY
  • Don’t be surprised when a quitter, QUITS
  • Build a positive on-boarding experience (negativity breeds more negativity)

3. Keep An Eye On Your Managers

People leave managers, not companies.

Ever ask people about the jobs they hate and the reasons they left?

Chances are pretty good that one of the first things you’ll hear is griping about a manager or boss, not the products, the customers, or other co-workers. A manager that creates negativity  will create a toxic work environment for everyone.

Managers need to be good listeners (without jumping to judgement) and instead of paying lip service to the “open-door policy” they need to be involved and stay active in the criticisms in the business.

4. Find LEADERS – not just “bosses”

Leaders and encouraging and promote growth and positivity. “Bosses” tend to be secretive and closed minded and usually fear for their position promoting negativity and fear.

Leaders look like this:

  • They are respectfully clear with all about the direction of the business and its’ future
  • A leader can handle a challenge with GRACE
  • They genuinely and easily offer the highest quality in everything they do
  • A leader will understand the importance of all employees and understand how to communicate with each of them individually
  • A great leader will inspire confidence. Your employees will feel positivity in working for this person and trust that they are making good decisions and promoting growth!

5.  Give employees opportunities for concrete success

Encouraging success in your employees makes them feel appreciated and vital to the team. This will keep them working to their potential and making good choices for the business.

  • Promote cross-training opportunities
  • Allow your employees to have measurable success and goals to keep them motivated
  • Offer real feedback for their work and allow them they opportunity to ask questions
  • Make everyone aware of the leadership ladder so they know how high they could climb

 

Additional tips:

  • It is important to know when an employee has talents in other areas of the business and encourage them to grow in that direction – if they are feeling noticed and well utilized they will feel more dedicated to the work
  • Be the best business you know how to be. Highlight your charitable contributions and community works, create team building opportunities and a family-like work environment to mention a few.

Business analysis packageDo you feel like you are having trouble identifying retention stumbling blocks in your business?

Maybe a Business Analysis could help you!

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