Every manager and business owner has experienced it. You’ve got a team that works well together, everyone is experienced, confident in their role, and communicates well. And then boom! Somebody hands in their notice. You and your team have to say goodbye to a trusted colleague, and start from scratch as you search for a replacement, and if you find one, you then have to get them up to speed with your processes and identity.
This can be a headache for employers, and almost all managers will agree that keeping employees is always prefered to finding someone new. But how do you ensure your team is happy, engaged, and appreciated? We’re going to look at the Top 10 employee retention strategies to help you keep the team you’ve cultivated.
Starting on the Right Foot
First and foremost, when you are hiring a new employee it can often be a stressful experience with deadlines and increased workloads forcing you to hire someone who is not the right fit.
When hiring, try to find someone who understands the role and ethos of your brand. Onboarding and orientation are key to starting on the right foot. Find time to create development pathways for your team so you, and they, are always aware of where they are going and how their performance benefits the company and themselves. Training and support are often the unsung heroes of the workplace and are key to keeping your team happy.
Perks
Perks are little accents you can add to motivate your team, make your offer look more attractive, and build team cohesion and morale. Friday social events, discounts on gym memberships, a cycle to work scheme, free snacks or in-house coffee and tea seem like small additions but the goodwill they generate can be incredible. Don’t forget to ask your team how they want to be rewarded though, there is no point offering something that is not wanted.
Wellness and Wellbeing
Health and wellbeing are incredibly important to your team’s mental and physical health. Healthy employees are not only happier and more motivated, but also less likely to suffer from stress or ill health. This means less stress and concern for your team, and fewer absentees.
Try to provide unique ways to aid wellness. This can be through subsidised memberships for health clubs and gyms, healthy eating programmes, awareness and education, professional mental health support, and financial and developmental support.
Communication
As with most workplace concerns, it all comes down to communication. Keeping lines between employees, managers, and clients transparent and respectful makes for a happier work-life. Try to obtain regular feedback, review projects to see where systems can be improved, and ensure that everyone feels heard. Communication helps cultivate a healthy workspace and makes it that much harder for your team to say goodbye.
Rewards and Recognition
Rewarding and recognising great results is another useful way to improve employee retention. Human beings are social creatures that thrive off appreciation. Shout out people who go the extra mile or do well. A small gift like gift vouchers, lunch, or even a company-wide email makes your team feel appreciated and boosts confidence.
Understand the Work-life Balance
In the modern world, especially with digital communications being what it is today, allowing more flexibility is often a major draw for employees. Whether it’s to accommodate the school run, allow for different working habits (i.e. early risers and night owls), or to help your team avoid getting stuck in traffic, offering a more flexible work structure is one of the best ways to keep your team together. You should also insist on employees taking their leave to avoid burnout. Overworking can be incredibly dangerous to mental health.
Isolate Pain Points
We’re all human. Even in a well-run company, there will be a few mistakes or miscommunications. A good way to ensure you keep your team through rough waters is to review their pain points and improve workflows. Automating a time-consuming task, ask what areas of work are most frustrating, find out where teams are struggling to cope and come up with solutions. Isolating and treating pain points not only benefits employees but often streamlines the entire process and optimises performance.
Provide Challenges
Another human need is the need to be challenged. Careers thrive where employees feel like they are growing. Providing realistic challenges give your team a target to aim for and shows them they are respected and valued. Challenges are a great way to provide momentum and prevent employees from feeling like they are stuck.
Fair Compensation
A lot of managers baulk at the idea of increasing pay. A lot of employees don’t ask for a pay rise because they are afraid of the repercussions. This impasse leads to employees applying for more lucrative jobs and they end up leaving you without a chance to offer an improved offer. This mistake can be avoided by including performance reviews and other structured systems. Transparent goals help your employees see how they can improve and how they benefit financially from improving their performance. Compensation doesn’t have to be just a paycheck but also more days of paid leave, health benefits, and lucrative retirement plans.
Be Open to Change
Finally, change is constant. Whether you are going through mergers, major developments, or tightening your belt, keep communication channels open and be ready to change with the times. If you’ve fostered a tight-knit team they’ll roll with the punches and help out the company through difficult transitions. You may need to change your approach or structure, but don’t think that anything is set in stone. Your employees may tire of practices that are outmoded or unnecessary.
At CUBE HR, we practice HR differently. We believe that happy employees make happy customers, making your business thrive. We specialise in making workplaces happy and productive.
If you need a full HR service or assistance with a specific project, our HR packages are tailored to your needs. We also offer a free HR Health Check and Risk Assessment and are happy to answer any questions you may have. Contact us now and experience award-winning HR services.
