If you’re finding that your best employees are looking for work elsewhere, then you may need to revive your retention strategies. It’s important to create an environment where everyone feels comfortable and confident to work well and progress with their career within a business. As well as providing opportunities such as promotions, here are some of the things you can do to improve your employee retention strategies.
For any HR strategy to work, let alone a comprehensive talent retention solution, you’ll need clear and regular communication. This will help you communicate any incentives or new initiatives to the wider business. If an employee feels out of the loop when change is happening, it can make them feel uneasy and unsettled so they may look elsewhere.
Provide regular newsletters and internal comms detailing any change or news that’s happening. This doesn’t have to be just an email full of negatives, it’s also a good opportunity to share the good work you’re doing and to praise any employees that have gone above and beyond their job description.
Offer your employees the opportunity to progress and learn more about their field with a diverse training program. Doing so not only allows them to become more efficient at their jobs but also expand their knowledge without going elsewhere in terms of their career. If they know they can progress within a company and as a business, you’re willing to support them, they will stay with the business without feeling like they need to look to another role for progression.
Connecting rewards with performance is a great way to improve employee retention. Providing regular goals that employees can strive towards can keep them motivated, especially if they’re in a sales position. Take time to choose rewards that will not only motivate employees but won’t alienate anyone either. Avoid alcoholic rewards and instead, provide a voucher for an online department store, an experience day or a voucher for a meal out.
If your business can afford it, benefit schemes such as PerkBox or Bupa Rewards are a great bonus for employees. This can be money off private healthcare, a cycle to work scheme or shop discounts. Anything that helps promotes wellness is a great thing to roll out across a business.
Annual salary reviews
If we’re being completely honest, unfortunately, not many people are in employment just for fun. Yes, job enjoyability will be a big part of why they may come to work, but it’s the salary that’ll ensure they can afford the luxury of getting to work. If you want your employees to work hard, you’ll need to provide them with a salary that is not only is in line with the industry standards but is in line with inflation and the standards of living.
Diversity and unbiased
If your employees are noticing that you’re only promoting a certain type of person or their salaries between counterparts are wildly different, they will leave the business. It’s important to hire a range of employees from all cultural and industry backgrounds. Within this, it’s even more important to ensure you stay unbiased. Put in steps such as a blanket approach to performance reviews and industry-standard salaries to ensure you’re putting in measures.
If you build a grassroots employee culture that has a rich focus on referring candidates that the employees believe in, it builds a community feel within a company. This can have many benefits from finding great talent to onboarding and building a supportive culture. If you can do this, you’ll allow your loyal employees to shape the business and have an impact on the wider growth and culture of the company.
Not everyone can work a typical nine to five job. Whether they have children or other family commitments, offering flexible hours allows your colleagues to adapt their schedule while still doing the necessary amount of work. Many businesses allow their staff to work from home when required, while others allow those to come into the office late or leave early so long as they match a certain amount of hours. Supporting all employees with their commitments can help create a positive work-life balance.
Celebrate team success
Nobody truly enjoys a job that is all work and no fun, particularly after a big project. Celebrate big wins, small wins, project deadlines or meeting targets. You could head out for dinner with the team. If dinner isn’t your style, try another type of team-building excursions such as paintballing or an escape room. This will show your employees that you value their hard work and stressful times come with great moments.
The main takeaway you need to remember to improve your retention management is to make sure you’re creating a supportive environment. Whether it’s supporting their personal lives with annual salary reviews and flexible working, or making sure their hard work is rewarded with celebrations and benefits. There are many retention strategies that’ll help your staff, you just need to find the right ones for your business.