Employee retention matters. With the Great Resignation and some in the workforce deciding to retire or pivot to a new career, the pandemic has created a tough job market for employers. Small business owners have been especially impacted, as it is tough to compete against the benefit packages offered by large companies. But where small businesses can compete is through culture and by implementing an employee retention strategy.
When employees feel respected and valued, workplace satisfaction levels rise and loyalty increases. Employee retention improves. It’s easier (and often cheaper) to retain valued employees than replace them. Here are five simple things you can do to improve employee happiness, resulting in better employee retention.
Work-life balance is essential to employees. Whether it be working remotely or the ability to take off to attend a child’s school event, flexibility matters. While businesses with face-to-face customer contact are a bit trickier, employees would like to have a say in what days they are scheduled to work and what shifts. For those working in an office setting, throw the strict 9am-5pm hours out the door and focus on a set number of hours worked per day; the work will get done by the end of the day, if the necessary staff coverage is met. This allows those commuting to avoid rush hour traffic, it enables an early riser to work when they are most productive, or it alleviates the stress of picking up the kids.
- Personal Growth
Most of us enjoy challenging ourselves and continuing to learn new things. Employees need to be encouraged to grow if a company wants to improve. There are many ways to allow employees to grow, from cross-training with another position, delegating, assigning a particular project, to paying for an outside seminar for an area of interest to the employee. While some business owners fear losing employees who are allowed to grow, employees who don’t see a path to growth will undoubtedly move on.
Employees like feedback, especially when it is constructive. A “thank you” or an acknowledgment of a job well done can go a long way. While some find improvement feedback hard to provide, employees would rather know if they are not meeting expectations or doing something inaccurately sooner than later. Whether it be a monthly 1:1 with each employee, inter-company communication, or a regular department meeting, keep the lines of communication open and your employee retention will improve.
Every business has nuances in customer service expectations, technology, and processes. Throwing a new employee into the fire without the proper training is not setting them or the business up for success. Formal training makes employees more productive and cuts back on frustrated customers, and/or costly mistakes. A desktop procedure manual is ideal for each position, which can help with training and cross-training. There is nothing like a relaxation buzz killer than returning from vacation to find all the work still there.
- No One Likes to be Micro-Managed
Assign the project, provide details including a due date, and then get out of the way. While an employee may do something different than their boss, it doesn’t make it wrong. What matters is the result. Let employees have the flexibility and creativity to own it. They may even do it better!
Employee Retention is Key – Contact Flourish Today
Managing business growth is a journey, and your team is your biggest asset. Are you doing enough to keep them happy, and satisfied in the workplace? Retaining a strong team can save you time, money, and oh so many headaches, especially at the moment! Why not add a little Flourish to your Talent Management? I can help with employee handbook creation, performance evaluations, talent satisfaction, and more. I can even work with third party vendors to help you develop better employee benefit programs.
I said it earlier…but it bears repeating: In the current market it’s easier, cheaper, and better for your business to retain good staff than replace them. To schedule a complimentary consultation to discuss implementing an employee retention strategy, email Info@FlourishBiz.Consulting, call 480-980-6066 or use the contact form to reach me.