Nowadays, there is a tight competition when it comes to hiring great talents. That’s why low retention rates are a common problem for several business owners.
Not being able to keep talent costs companies so much time, money, and effort in finding a replacement. If you’re one of those company owners who are having this problem, keep on reading to know what you can do to solve it:
Retention begins with the recruiting process
Think of the recruitment process as a way to establish your brand to a candidate. After all, it’s not only them who’s trying to make a good impression but your company too.
Even candidates think about why they would want to work with you. So, make sure that if you have found great talent, don’t lie and create high expectations for them.
Yes, you might be able to hire them, but what good will it bring when they leave in 3-6 months?
So set the expectations straight, especially about the ups and downs of the job. This way, they become more accepting and likely to stay.
Develop an employee development program
An employee development program aims to develop an employee’s skills. Most employees want growth too and they wouldn’t want to stay with you if they don’t see themselves develop.
There’s nothing wrong with creating investments. It brings in more money and will be great long-term.
So, invest in your employees’ talents and skills as well. Create a program for them to develop and hone their skills. You’d be surprised to see how it can bring in more success for the business in the long-run.
Strike the right work-life balance
If you think that overworking your employees would make you more money, then you have to think again.
Employees have a life outside work, too, so make sure that they enjoy that life as well. If they work too much, they become too tired, their productivity decreases, and thus affects their work results.
So make sure that you give them time to enjoy their life outside work too. Offer flexible working hours, alternative working days, or give child-care privileges for parents.
By giving them the right work-life balance, you would surely have employees that are happier, more productive, and more focused.
Earn the trust of your employees
Yes, you read that right, earn your employees’ trust. It’s not only them who need to show that they’re trustworthy but you should also do the same.
Remember, these are people, not robots, and they wanted to feel safe in their environment.
So be a person to them. Share any difficulties and achievements the company have.
Transparency is very important. If they are able to trust you, they will show you their whole self. They will bring out their best performance to help you and to improve the state of your business.
Ask your employees for feedback
Most employers, after hiring their employees, stop at taking further actions. They then start to wonder why their turnover rate increases.
This is because they don’t talk to their employees.
If you’re not talking to your employees and try to get their feedback, you wouldn’t know what problems your business has. So make it a regular thing to ask your employees what they currently like and don’t like in terms of working in your company.
Ask for their opinion on how the business can improve. You’ll be surprised how most of their feedback is actually problems you were never aware of.
Cultivate a healthy work environment
Your employees stay at their workplace for eight hours a day. It’s almost like their second home.
It should not only be an environment that would benefit them physically but also psychologically. A few ways to do this is by making interior design and ergonomic improvements.
You can place standing desks to allow your employees to sit and stand while working on exercising their muscles. Bring in some plants, paint your workplace with a soothing color, use air purifiers to make sure the air is clean, and a lot more that you think you can add to improve.
Other than the workplace, you can improve work relationships by keeping your team connected and encouraging conflicts. The two seem to be the exact opposite of each other, but both can bring out your employees’ best abilities.
Foster teamwork and collaboration
As the song goes, two is better than one. Several people working together on a project is better than one person working alone.
A lot more can be accomplished when there’s teamwork. Giving your employees the ability to share ideas with one another makes them able to come up with a single big innovative idea.
To foster teamwork, start with assigning teams to projects. You can also hold regular brainstorming sessions to come up with new ideas. But most importantly, make sure that you’re also available to resolve any conflict.
As much as having a team is beneficial, there will always be circumstances when employees disagree against each other’s ideas resulting in conflicts to arise. This is normal and can be resolved swiftly with the right attention.
Recognize and reward
Giving recognition and reward is probably the most important. Because everything that is listed above would not bring any difference if you don’t recognize your employees’ efforts.
It doesn’t matter if he has a low or high position in your company, each of them contributes a lot to the business and you must let them know that.
Even a simple tap on the shoulder, or saying “great job” or “thank you for your efforts,” will bring a great difference. It will also serve as their motivation to work harder and bring more to the table.
Final Thoughts
Increasing retention rates shouldn’t be a complicated matter to solve. All it requires is a better recruitment process, a better work environment, and better programs that are beneficial to your employees.
These three are all tied up together, and if implemented well, your employees would surely want to stay. And if they stay, it means you won’t have problems continuously searching for great talents, saving you time, money, and resources.
About the Author – Raymond Chiu is the Director of Operations for Maid Sailors NYC Office Cleaning. Maid Sailors offers its customers unrivaled office cleaning services that can address even the toughest cleaning needs. Matched with affordable prices, Maid Sailors is your best partner in helping you turn your office into a work-friendly workplace.
