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Three Ways to Increase Employee Retention

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Top talent can sometimes be hard to come by, especially if you’re working in an industry that relies on specialist skills and knowledge.

However, finding talented people to join your company is just the first hurdle that you need to conquer. The next step is getting these people to stay, which can be an additional battle.

With around 40% of the global workforce saying they are thinking about leaving their current role, it can be a big worry for companies to face the risk of losing some of their best employees.

If you want to make sure to retain the great employees that you went through the considerable effort of hiring, here are some ways that you can increase the chances of them staying.

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Why do people leave their jobs?

There are many reasons why people may choose to leave their jobs, some of which may be out of your control.

For example, if your employee is relocating to another city or country, it may be impossible for them to continue in their role.

However, there are also a lot of reasons why people may feel like they’ve been forced to leave their current role – some of which can stem from the company or management.

Some of these reasons may include:

  • Finding better opportunities elsewhere
  • Seeking more flexibility or freedom in another role
  • They feel underappreciated in their current role
  • They don’t work well with their current team
  • They don’t like the way their current team is managed
  • They don’t get enough feedback from management
  • They don’t align with the company’s work culture
  • Their current role isn’t a good fit for their skills
  • They don’t see any opportunity for progression or growth
  • They want a more challenging role
  • They want a job that offers them more money or benefits

However, there are plenty of changes that can be implemented in order to help improve employee retention.

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What you can do for your employees

If you have the right employees working for you, it’s important to do your best to satisfy their requirements and create a work environment that motivates and inspires them.

Although you aren’t always able to please every single employee, there are a few strategies that you can put in place to foster a more appealing workplace that will help you attract and retain top talent.

1.   Offer opportunities for learning and development

Once an employee has been onboarded within your company, they should be able to see a clear trajectory towards growth and development.

Employees frequently respond well when they are nurtured throughout their time at a company and given the tools and resources they need to keep heading in the right direction.

According to one survey, 63% of workers left their roles because they saw no chance for progression in their respective companies. Although this may be something that smaller businesses may struggle to provide their employees, it should still be something you think about.

If you aren’t able to provide your employees with a clear route to the top, you can help them in their careers by providing a range of learning and development opportunities.

By offering ongoing training and upskilling to your employees, you can equip them with new knowledge and skills that they can then use in their roles to the benefit of your company.

Other things you can do to nurture your employees’ development include:

  • Inviting feedback on skills that your employees are developing
  • Give employees the chance to attend educational workshops, masterclasses, or online courses in subjects that are relevant to their role
  • Develop a personal development program together with each employee to help them advance in their career
  • Take time out to give employees constructive feedback and mentoring

2.   Create a sense of belonging and community

Your employees will become part of a team working together to help propel your business forward, so you want them to feel united and connected.

In addition to introducing everyone during the onboarding process, you also need to do what you can to create a sense of camaraderie among your employees.

In addition to the traditional onboarding checklist, you should continue to ensure that your employees feel welcomed into your organization and an important part of their team.

Some of the things you can do to create this sense of belonging and community include:

  • Having buddy programs between new recruits and longer-serving members of staff
  • Mentorship schemes that give employees access to senior management staff
  • Employee boot camps and other team-building activity days
  • Monthly meals out or group activities
  • Encourage clubs like a book club, football club

3.   Understand what motivates members of your team

Finally, if you want to retain valuable employees, you need to go out of your way to provide them with the help and support they need – this involves listening to individual team members.

When you know what motivates different team members, you’ll find it much easier to tailor their development plans and take action to keep them satisfied in their roles.

Some people may be encouraged by receiving feedback and 1-to-1 meetings with their manager, whereas others may be more motivated by flexibility, or even increased responsibility.

Being flexible with your approach to each employee can make a considerable difference when it comes to creating a more harmonious and productive work environment for everyone.

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