The cost of hiring and onboarding employees is significant.
If you have an employee turnover problem, not only are your hiring and training costs going to soar, you could end up losing some of your best talent in the process.
Employee retention starts with treating your staff well. No strategies you implement will help unless you first value your team.
Employee Retention Strategies
Here are 15 strategies that can make a tremendous difference in your organization:
- Offer constructive advice. When offering your employees feedback, follow a 6:1 ratio – six positive comments for every negative one.
- Create opportunities for growth. Invite guest speakers in to share, create a resource shelf, offer ongoing education and training.
- Give them something new to do. Create new challenges for them – something they can handle.
- Place a higher value on creativity. Give them a chance to come up with new ideas.
- Respect your employees. Acknowledge them, thank them, treat them well.
- Build trust. Communicate in a transparent way.
- Accept feedback. Create opportunities for your employees to share their thoughts with you.
- Create a culture of inclusion. Include them in decision making.
- Encourage balance in the workplace. Ensure your people aren’t overworked.
- Strengthen the bonds between you and your people. Build a relationship with your workers.
- Pay your employees what they’re worth. Offer competitive wages.
- Introduce change gradually. Too many changes at once can create stress and cause people to quit.
- Make your workplace clean and safe. It’s hard to work in an environment that isn’t.
- Empower your employees. Furnish them with the tools they need to succeed.
- Give them more rest periods. If your team members can’t even get away from their desks for lunch, you’re not giving them adequate rest periods.
As David Novak, CEO of YUM! Brands said, “People leave when they don’t feel appreciated. That’s why we made recognition a really high value. Our business is people-capability first, then you satisfy customers, then you make money.”
What are you doing to ensure your people feel appreciated? How are you recognizing them?
Jon Hainstock is co-founder of ZoomShift, the employee scheduling software that actually makes your life easier.