The Great Resignation, a trend coined in recent years, is the tendency for employees to leave jobs and move on to greener pastures. The COVID-19 pandemic has prompted employees around the world to reassess what they value and their work-life balance. In Australia, extended border closures have led to skills shortages, making recruiting new employees difficult in almost all industries. This continues to be a challenge for businesses for the remainder of 2022, making employee retention more important than ever.
The costs alone associated with recruiting, onboarding and training new employees make working to retain current employees essential, as well as avoiding the negative effects high staff turnover can have on a business such as lower productivity levels, morale, team culture, and cohesion. So how do you keep from losing your valuable employees in such a competitive job market?
Engaging the right person for the right role can be challenging, making retention critical to businesses. Employee turnover impacts culture, organisational knowledge, client retention and the bottom line! If you are serious about improving employee retention in your business, take a look at our personalised retention packages designed for small businesses.
To improve your employee retention consider the following tips;
Good managers and leadership
This is the number one tip for retaining employees! Employees are most likely to leave a job because of their manager, so having good managers and leadership within the business is crucial – remember a fish rots from the head down. But what makes a good manager? Good managers aren’t just people who tell others what to do, they know how to talk to their teams, understand what motivates them and what individuals’ strengths and weaknesses are and how best to harness them. Managers should be aware of and manage workloads before they become an issue. They should be able to deliver constructive feedback, positive or negative appropriately and there should not be too many conflicting views from those in charge.
Feeling valued
Employees above all like to know the value of their contribution to the organisation and feel that it is meaningful no matter the position they hold. To do this ProcessWorx HR Consultants recommend, informing employees of the business strategy and plans, where appropriate so they understand how they fit into the bigger picture of the organisation. Simply treating employees with respect, showing sincere appreciation and consistently celebrating successes, birthdays and work anniversaries with small gestures goes a long way.
Great onboarding
Make it easy for people to join and stay at your business! Having procedures and standardised onboarding for new employees makes it easier for them to understand their new role within the organisation. Offer training, feedback and support, allow them to ask questions, show them around and introduce them to people – make them feel welcome and show them that they are wanted. Employees who are onboarded well are far more likely to stay compared to those who are left to ‘sink or swim’.
Culture
Employees will stay in an organisation for a great culture, even if the job isn’t exactly what they want. Know your business’ culture, what fits and then embed it from the top down. Leaders within the business must embody the culture so everyone is clear of the expectations and set a good example. ProcessWorx HR Consultants recommend having, clear position descriptions and expectations, company values to live by and uphold, and set processes and systems for employees to follow.
Have development opportunities
Are there development opportunities within the organisation? Employees are more likely to stay within a business if there are opportunities to grow and develop. Can you hire within the organisation for leadership and senior roles? Coach employees to develop these skills and have performance reviews regularly to discuss role duties and growth potential.
Be proactive about well-being
Consider employee health and wellness in your business and what you can do to promote it. Having open conversations about health, fatigue and stress, as well as resources available for employees to access is a helpful start. Offering flexible work arrangements is a good option however not practical for all businesses. Other wellness options can include, supplying healthy snacks, staff morning teas, offering an EAP service and getting employees involved to hear what they want.
ProcessWorx Expert HR Consultants
The most important takeaway is that retention starts at the top! Businesses cannot retain good employees if managers and senior leadership do not make it a priority and model positive behaviour. The good news is as a business owner this is something you have complete control over and can change with time. Implementing these strategies is a great start to improving employee retention in your business and will have a positive effect in other areas.
If you are looking for help with employee retention, culture or employee experience in your business take a look at our HR Consulting services and contact the ProcessWorx HR consultants on (08) 9316 9896. Our friendly expert team will be happy to help you develop your business in this area.
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