Retention Strategies for the Long Haul

There’s a fine balance between hiring the right people for your business and keeping them there. While it isn't easy to find great candidates in today’s job market; it is equally as hard retaining them once they’ve joined your team. There are many factors that contribute to employee retention, but none as important as leadership. The way you lead your team directly impacts their willingness to stay with your company long-term. Have you ever wondered why some leaders struggle with employee retention? If you want to keep your employees happy, then read on for tips on how to effectively retain them as well as give them a reason to come back the next day.?

Communicate Often and Clearly

Communication is key to any relationship, and employees are no different. The best way to send a strong message to your team is by communicating often and clearly. There are many ways to do this. What is the company's mission and vision? How does each employee fit into the big picture of the company? How does each employee's role contribute to the company's mission and vision? How does each person's job impact the overall departmental success? How does each department work together to contribute to the company's mission and vision? You should also communicate about company successes, failures, goals, and even the emotions you’re feeling. Letting your team know what’s going on behind the scenes is an excellent way to boost trust and transparency. You can also communicate on a smaller scale by involving your employees in decision-making processes.?

Offer Continuous Learning and Development Opportunities

Employees who feel like they’re growing every day are more likely to stay with your company than those who aren’t given opportunities to expand their skill set. Offer a wide range of trainings that are directly related to each employee’s job. You can also partner with a local university to offer tuition reimbursement to select employees. Offer mentorship opportunities as well. If you’re a manager, consider being a mentor to a few employees to help them excel in their careers. Find ways to tangibly demonstrate your belief in your employees’ abilities. Doing so will help keep turnover rates low and productivity high. If you’re a manager, consider the skills your employees need to grow, and then find ways to help them achieve those things. If you’re an entry-level employee, ask your managers what you can do to improve your skills and excel at your job.?

Show That You Care About Your Employees’ Well-Being

Employees who feel like they’re valued beyond the workplace are much less likely to leave their jobs. Show your team how much they’re appreciated by being flexible when relevant. For example, let your employees work from home when they’re sick, let them set their own hours, provide ample time off, and offer benefits like health and dental coverage, paid maternity and paternity leave, and more. Hold regular team-building activities that aren’t work-related. Get to know your employees on a personal level by having regular one-on-one meetings or inviting them to attend company social events. Let your employees know that you genuinely care about their well-being beyond the office.?

Don’t Forget to Celebrate Successes

No one wants to work in a place where they never celebrate success. Celebrate both big and small successes. If an employee hits a company milestone, like closing 100 new clients, throw a small celebration. If an employee exceeds expectations on a project, give them a public shout-out. If an employee nails an interview, send them a gift card. The point is to recognize accomplishments both large and small and let your employees know you’re grateful they’re a part of your team. When you consistently celebrate success, you create a culture where employees feel like they’re achieving something every day.?

Provide a Meaningful Employee Engagement Survey

Employee engagement surveys are one of the best ways to gain insight into your team’s happiness. Find a tool like Canvus that offers short, daily surveys to get honest feedback from your employees. You can use this data to make the necessary changes to keep your team engaged and happy. If you don’t have the budget for an employee engagement survey, there are plenty of ways to get feedback from your team. Hold regular one-on-one meetings with each member of your team, and invite them to contribute ideas on how to improve the company. Hold regular team-building activities, and invite employees to offer suggestions on how to improve the company culture.?

Final Words

Whether you own a small business or work for a large corporation, retaining top talent is essential to the success of the organization. In order to achieve this, you need to make sure your employees feel engaged, appreciated and fulfilled in their roles. In this article, we’ve discussed six tips that will help you to retain your best employees. By implementing these strategies, you’re sure to see improvements in retention rates.