How to Rock Employee Retention
In today’s competitive business arena, top talent is something that is in high demand. If the top employees in your company are unhappy, another organization will definitely come along and lure them away. If a company waits for an exit interview to learn about why the employee decided to quit, they have missed an opportunity to keep a productive team member. And, if the employees aren’t communicative about why they intend to leave, the company misses a golden chance to identify challenges and obstacles within the organization that need fixing.
Many companies get new workers, then watch them leave within a few weeks or months. But, how can organizations make sure that this attrition is reduced? Keep reading to find out.
Check on the Leadership
According to a study
by Michelle McQuaid, a leader in positive psychology interventions at the workplace, managers and organizational leaders are making Americans feel lonely, uninspired, unappreciated, and miserable. This situation is taking a toll on workers and costing companies a whole $360 billion per year in lost productivity. This study found out that 65 percent of Americans would rather have a great boss than a pay increase.
This focus on strong managers is the key to keeping good employees. Most managers look for weak links in their team, but we don’t hear enough about the importance of uprooting the weak managers. As an organization, it’s important to promote leaders depending on their communication and people skills, as well as the obvious requirement of doing their jobs well. Remember, the better the leaders, the happier the employees working under them.
Create a Fun Work Environment
It has been confirmed over and over that happier employees are more productive
. Creating a workplace culture that allows individuals to have fun, be themselves, and establish strong relationships within the company is a sure way to retain talent. The best workers in a company are normally interested in more than just their to-do list and your organization’s bottom line. These employees don’t stick around in cold, boring, and impersonal environments – regardless of the paycheck.
It pays to simply keep the work atmosphere light-hearted and positive while being productive. Take some time to have fun as a team – this will help your employees build stronger bonds, decrease stress, and enable organizations to capture a great work/life balance by allowing employees to see the company as their family rather than a mere place of work.
Encourage Transparency and Openness
Having open communication between employees and management can help promote a sense of teamwork and a shared purpose. Your people are the ones working through the problems on the front lines of your business, and they are already aware of the truth
about the obstacles that exist in your organization. So, create a safe environment to allow them to tell it. Also remember, there is a huge difference between implementing the workers’ decisions
and implementing management decisions.