Employee Retention Strategies You Can Start Today (Part 2)
We’re back with a second helping of employee retention tactics that you can action straight away. In Part One we listed some ways you can start making changes to boost your employee retention rates. Now we’re here to complete the list. All of these steps build a complete picture of a successful retention programme.
What do we love so much about them?
Well, gifs aside, you can start action on these steps TODAY. Change doesn’t happen overnight but all of these retention tactics can be put into place today and allows you to build on them with time and attention.
8. Include Your Employees
No one wants to feel excluded in an organisation they are a part of. They want to feel like they were hired for a reason, and that they are playing a key role in helping the business achieve its objectives.
Josh Bersin, founder and principal at Bersin by Deloitte, found that companies who deliberately work to encourage inclusion, diversity, development planning, and leadership development in their culture were 3.8 times more likely to be able to coach people for improved performance, 3.6 times more able to deal with personnel performance problems, and 2.9 times more likely to identify and build leaders.
This is just one of the stunning findings on companies that make diversity and inclusion a priority.
From hiring and leadership assessment to development and performance management, you will need to take a top-down approach to a culture of inclusion, and there are no shortcuts to getting there.
Your action step: this week, have a conversation with each of your employees individually. Or, have an open-ended strategic meeting, and ask each of your team members what their thoughts are on their role within the company. Listen, and take note of what they say.
9. Encourage A Healthy Work-Life Balance
Many organizations have high expectations for their employees. But for workers, this can mean less time devoted to personal care, leisure activities, and family.
OECD found that roughly 12% of employees work very long hours in the United States. This is slightly less than the average 13%. But full-time workers in the US only devote 60% or 14.5 hours of their day to personal care and leisure, which is less than the average 15 hours.
When your team members are well-rested and have adequate time to care for themselves and their families, they will also perform better at work.
Establishing regular work hours, policies for working on weekends, or work-from-home programs can offer your team members the flexibility they need to bring their best to work every single day.
Your action step: identify people in your company that are overworked this week. Give them a bit of time off, or get everyone out of the office for a walk.
10. Connect With Your Team
Part of employee engagement and enablement is taking the time to connect with your people, and we’ve already seen how employee engagement can have a dramatic impact on the effectiveness of your company.
When your workforce feels connected, it gives them purpose. It helps them carve out a niche within their department or team, and it helps them see how they are contributing to big-picture objectives.
Per Peter Economy, full-time ghostwriter and best-selling author, “The secret to unlocking this unlimited source of energy for your company is to build and strengthen the bonds between you and your employees. When you trust and respect your people – and really connect with them – they will respond with commitment and enthusiasm.”
Companies can accomplish this best through corporate philanthropy programs, like employee volunteering and corporate giving. Studies show large companies have reduced turnover by 50% using CSR programs. IBM alone attributes a $600 million return on their $200 million CSR program investment. Fortunately, companies large and small reap the benefits.
Your action step: connect with your team members outside of your place of business this week and consider using that time to bring your team together to give back to the community.
11. Offer A Competitive Base Salary or Hourly Wage
Your employees want to feel like the effort they put into work is worth their time. When it comes to employee retention, money isn’t everything, but offering a competitive wage can help your people feel like their work and time is valued.
According to Chron, “Regardless of a person’s field, she wants to know her compensation is competitive with what others who perform similar work are earning. Salaries need not be the highest in your area but should be among the top. Paying low salaries means top people will leave and low performer will take their jobs.”
Your team members need to be able to cover their cost of living, and to feel like they are doing good, rewarding work. If you aren’t sure, research what a competitive salary would be for your employees and start paying them what they’re worth.
Your action step: review current wages, and determine if you need to make any adjustments to be competitive.
12.Avoid Sudden Changes In The Workplace
Change may be inevitable, but it can also be very stressful. You may need to introduce new initiatives and systems in your company to keep up with growth or to strengthen quality assurance. But forcing too much change too soon can affect employee retention.
Towers Watson found that employee attitude can be affected negatively by organizations going through significant change.
We all like to think of our employees as strong people, capable of adapting as necessary. But without ongoing communication – especially with regards to the status of their job – your workers can begin to feel fearful for their future in the company.
Many entrepreneurs have found that introducing one change at a time is more manageable for workers than many changes at once. Instead of trying to implement broad, sweeping changes, it would be wise to go about it gradually.
Your action step: determine whether your employees are under any undue stress this week. If you have a plan in place to bring about changes within the company – assignments, job descriptions, policies, systems, and so on – consider slowing the projected timeline for completion.
13. Create A Clean & Safe Environment For Your Employees
Mess and clutter is distracting. And if people sense that danger is near, they’re going to have a hard time focusing on the work they need to do.
Since your employees will be spending at least one-third of any given day in the workplace, if not longer, it’s important to create and maintain a comfortable working environment.
To achieve this end, you may need to carry out risk assessment to identify potential hazards and dangers in the workplace. You may also want to update your health and safety policies and put additional processes and procedures in place to ensure a safe working environment.
And although we are talking about employee retention here, it may also be necessary to let go of employees that are harassing, causing distractions, or not cooperating. This will be for the better of all involved – ensure the comfort of the many over the few.
Your action step: put a plan in place to keep the workplace organized, and do a risk assessment this week.
14. Give Your Employees The Tools They Need To Succeed
If you’re going to set goals for your workers, you need to give them the tools, resources, and information they need to succeed. All too often, employees are left to their own devices without any direction or guidance. Is it any wonder they fail to hit a target they cannot even see?
Abigail Phillips, editorial director at WDM Group notes, “We’ve all heard that ‘a team is only as strong as its weakest link,’ but the number of business leaders choosing to ignore this sentiment is staggering, as they are more concerned with their own development and less so with their employees. Not a smart move.”
If you want to help your employees succeed, you need to be in regular communication with them, asking them specifically about the project they’re working on, and if there’s anything you can help them with to bring it to completion. You need to be willing to share your knowledge and to mentor and guide them.
Your action step: this week, assess whether any of your team members are uncertain how to proceed with a project. Ask what they would need to move forward with their assignment, and provide it for them.
15. Provide Adequate Rest Periods For Your Employees
In the US, long hours in the office is often worn like a badge of honour and hardworking entrepreneurs are glorified and celebrated. But people are not machines, and when pushed too hard for too long, they will succumb to illness, fatigue, and unnecessary (but sometimes costly) mistakes.
According to Chron, one-third of workers eat lunch at their desk and 16% hardly, if ever, take a lunch at all.
It’s one thing to support an employee that’s driven and wants to make a significant contribution to the company. But for every determined and ambitious employee, there are many others that would collapse under the pressure of stress and overwork.
If employee retention is your goal, then it’s important to provide adequate rest periods for them. This will help reduce stress and sick days. Depending on the state, this is also a matter of regulatory compliance.
Your action step: this week, try adding an additional 10 minutes to everyone’s rest period. Observe whether this makes any difference to overall performance and morale.
Have these steps helped you tackle employee retention rates? Get involved on Twitter and let us know what works for you!
Jon Hainstock is the co-founder of ZoomShift, employee scheduling and time clock software for independent coffee shops. You can connect with Jon on Twitter, LinkedIn, Facebook, and Instagram.