What a crazy month it’s been! We hope you’re all doing okay post-lockdown craziness and are looking forward to the festive season ahead.
This month we’re discussing effective employee retention strategies. It’s every business owner or manager’s nightmare – a great employee resigning. You start to think ‘why did this happen’ and what could I do to fix it for next time?’.
It can send ripples through a small team and have others thinking ‘should I start looking too?’. This is why employee retention and job satisfaction should be high on any business owner’s or manager’s list of priorities.
Here are 7 easy tips to increase employee retention that you can implement in your business.
Every employee is different but it is universal that all employees want to feel appreciated for the work they do and treated and paid fairly. People want to be challenged by their work. It is best to review employee retention and salaries yearly – this will ensure you keep your workforce happy and build a strong workplace culture.
If you have anything questions about the areas below or need help rolling them out contact Karen on 0478 818 492 to discuss.
The Latitude Recruitment Team.
1. Onboarding and orientation
Onboarding is SO important – it standardises the experience for all employees and gives each employee the best possible chance for success. Starting staff off on the right foot will set the tone for their entire time working for you. If its rushed and no one had time to spend with the new hire and train them properly, what kind of message does it send to your new employee? You can download our free onboarding checklist here.
2. Training and development
If employees are continually given opportunities to update their skills, they are more likely to stay with you. Make it a priority to invest in professional development to attend conferences, industry events or complete e learning. There are so many industries offering online conferences this year- it’s a great way to up-skill with a cheaper than usual price tag.
3. Performance reviews
Annual performance reviews are a big-picture conversation – it is an honest discussion about short- and long-term goals, identifying any training gaps and talking through promotion opportunities if appropriate.
Keeping the lines of communication open and honest is huge. Make sure you are meeting with staff members individually on a regular basis and discuss performance issues as they arise.
5. Work/Life Balance
Expecting your team to be available or work around the clock isn’t good for retention or for productivity. A healthy work life balance is especially important to job satisfaction – encourage people to take annual leave and daily breaks.
6. Celebrate milestones
Big and small: encourage and celebrate staff anniversaries, birthdays or completing a project or after a busy period – do this with a shared meal or group activity.
People want to be paid at or above market rates for their work. Ensure you are paying competitive salaries and review each year, align this with performance appraisals. Every employee should have a clear understanding of their salary and benefits when they start – this links back to proper onboarding. I told you it was important!