Although employee retention has a direct effect on your business’ finances and production, it is often overlooked. Retaining your best staff helps ensure sales, satisfied coworkers and staff, production, and customer service. In fact, retaining employees is often the key for retaining customers.
Unfortunately, managers are too busy to worry about employee retention. However, failing to retain an employee can be very costly, as you waste time with interviews, training, and even lost skills. Yet, with a few, simple tricks, you can help retain your most talented, skilled employees.
1. Money and Benefits
Although money isn’t always the number one motivator, a recent survey conducted by SHRM and CareerJournal.com found that 53% of employees begin a job search for better compensation and benefits. Offer a fair salary and a competitive benefits package to retain your best employees.
2. Make them a member of the team
From the first day, reiterate that their participation on this “team” is not only necessary, but beneficial to the overall production and success of the business. Employees that have a clear understanding of their role and contribution tend to be more motivated and happy in their job.
3. Offer proper training
Many businesses skip the extensive amount of training during the first few weeks and simply throw the employee into the job. However, this can lead to frustration and confusion very early on in the job. With proper and adequate training, the employee is aware of their job responsibilities and functions and can perform to the best of their ability.
4. Promote coworker friendships
On the employee’s first day, introduce them to a few of their coworkers. They may find a friend in someone with common interests or similar volunteer or extracurricular activities. The new worker will be glad to not only have a friend, but also possibly a lunch buddy.
5. Create a positive work environment
Allow the employee to customize their work station to their personal taste (to a reasonable extent). Allow them to display pictures of their family. Be sure that their work station is ergonomically fit for them and that all of their required supplies and equipment are available.
6. Allow room for advancement
In the aforementioned survey, 35% of employees stated they were on the job search for a position that allowed career development. If an employee feels “stuck” or bored with their current position and sees no possible advancement in sight, they are more likely to leave for better opportunities.
7. Allow creativity
A number of employees complain that they are too restricted in their everyday duties. Rather than delegating specifics of an assignment, allow the employee to creatively come up with possible solutions or even new products.
8. Make time
In the first few weeks and months of a new position, the employee will have numerous questions and inquiries for you. Rather than waiting for the employee to sheepishly enter your office with a question, take the time to stop in daily and check on their progress. It will show that you care about your employee’s happiness.
9. Encourage suggestions
An employee may offer fresh insight or outlooks on old or outdated procedures. Encourage them to be open in their suggestions. You don’t necessarily have to implement all of them. However, the employee will feel satisfaction in their contribution and the fact that their opinion does matter.
10. Offer praise and acknowledgment
Another main reason employees are dissatisfied is a lack of acknowledgment. Busy managers may neglect to notice a job well done. However, the employee who worked very hard will feel resentful or unappreciated. A simple “thank you” can often do the trick.
Because good employees are becoming harder and harder to find, it is up to you to implement small changes that will retain your most skilled and experienced employees.
About Sozo Firm
Sozo Firm helps startup companies, small to mid-sized businesses & nonprofit organizations thrive through developing and implementing business optimization strategies. Our efficiency consulting addresses business processes, customer service, employees, marketing, public relations, and communication. Our internet strategy consulting addresses website usability, reputation management, social media, and internet marketing. Contact our senior consultant, Andrew Jensen, at 800.460.SOZO to learn how we can serve you.