How to improve employee retention
Posted on 3rd June 2022 at 13:56
There is no denying there is now a plethora of jobs, so employers cannot afford to be complacent.
Employee retention saves money, and that is a fact.
Losing staff on a regular basis is costly; Advertising and recruiting take time. So, it makes sense to look at ways of retaining the team you have.
The world of work has changed fast over the past 2 years and providing a good employee package has never been more critical. People want good working conditions where their needs are a priority. In addition, employees need to feel valued and appreciated. Just earning a wage is no longer enough. Putting your employee’s welfare and development must be top on your list of priorities.
Here are some of the things you should be implementing if you haven’t already.
Offering hybrid working or full time working from home is now one of the key attractions for staff. Over the pandemic, people worked from home, in most cases, and were just as efficient, if not more so. Reducing commuting saves money and time. Meaning people will be more productive.
If you can also offer flexible working times, this can help retain staff who have children or other family commitments.
Flexible working patterns create a positive work-life balance, and this will mean you will retain more staff, attract new ones, and have a happier workforce.
People like to feel recognised for their achievements. Consider implementing employee of the week or month. How about prizes and rewards for hitting targets? These do not have to be big bonuses but can make a real difference to staff morale, plus it also acts as a driver for staff to want to achieve. The prize could be a voucher, a hamper, or a box of chocolates with a certificate. This is, of course, separate from any commission schemes you have in place. Depending on the numbers of staff you have you could create team competitions or have a leader board. Be creative! You could even get your staff involved devising the scheme.
Team building events
Taking the staff out of the work environment can be really helpful in solidifying your team. This could be an organised team building event or just work drinks, a meal out or an experience day you organise yourself. There is something out there for every team, from golf to cocktail making. This shows your appreciation and, if combined with a brainstorming activity at the start, it can give you some great feedback and ideas to progress your business. Make these regular events, and quarterly is ideal. Consider appointing someone in the business to arrange work socials and team building events to ensure that it happens.
Learning and Development
Every member of staff should have a learning and development plan. There are loads of courses out there now, both online and face to face. Ensure each year everyone understands some training to develop their career. This is key to retaining staff and being able to promote from within.
Do a skills audit in your business and find out what gaps you have. Then find courses to fill them. The additional skills in your business will help you to become more efficient and win more clients.
How can we help you?
As part of our outsourced HR support we can help you with ideas to retain your staff and help you create HR policies and procedures.
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