There’s also an issue if you are dealing with high turnover – a blog topic in its own right but we’ll cover that another time! But if you are dealing with high turnover, you are possibly trying to manage a team with low morale underscored by poor company culture all of which will impact productivity and team cohesion. It becomes a vicious cycle that you will need to manage at some point.
Obviously, recruiting for new talent is part and parcel of running a business but retaining top talent should be even more of a priority than usual in this highly competitive candidate’s market. To help you out, we’ve got some tips to help improve your retention rates so you can focus on other aspects of business growth and leadership!
GREAT LEADERSHIP MATTERS
There is a saying that ‘people don’t quit companies, they quit bosses’ and it has an element of truth. It’s actually the level of leadership that will have the most impact so you might have an average direct manager in place but if the overall leadership within the business is out there creating a positive work environment with growth and development opportunities, research shows that you will increase retention and reduce staff turnover.
What kind of leaders do you have in place? Do they connect with their teams? Do they listen well and deliver feedback or direction in a constructive fashion? Are they consistent and fair? Do they support and develop their people and create cohesive teams who are valued and acknowledged for their contribution? If not, you might need to consider investing in development and training for your leadership team to support them in their growth and improvement too!
CULTURE
The culture within your business can be make or break when it comes to retaining your top employees. It’s obvious really, who would want to stay in an environment that allowed toxic behaviour or a place where company values were just a sign in reception that no one upheld or respected? People want to feel engaged in a business where leaders are visible and accessible, where they connect with colleagues, wins are celebrated, and ongoing professional development is supported and encouraged. If you don’t know how your company culture is viewed by employees, you may want to consider calling in the HR Staff n’ Stuff team to help assess what’s happening and determine a program that will help put you back in the positive culture territory.
WE ALL WANT TO FEEL VALUED
Acknowledging contributions by employees – no matter how small or large – is an incredibly powerful act when it comes to retention. Everyone wants to feel that they are valued no matter what position they hold in your business from the cabinetmaker who built the stunning new shop fittings that has the client gushing to the executives who secure a major deal that will take your company to the next level. It can be as simple as a thank you for good work, cake for a birthday, acknowledgement of work anniversaries or consistently celebrating individual and team successes small and large. But taking it to the next level means you keep your employees up to date with business planning and strategy where possible and prudent, and ensure they understand where they fit in and how their contribution makes an impact on the bigger picture.
GET ONBOARD
Onboarding new employees is often undercooked. Showing someone their new workstation and where the toilets are is not onboarding! You need to have in place a solid process that ensures your new star recruits are given every opportunity to feel welcomed and to set them up for success. They will need to be given any role specific training as well as being introduced to your company policies and values. You will need to make sure they are introduced to their team and broader groups within the company and where and who to go to for assistance in their role. Ultimately, you want a new hire to be made to feel they are part of the team and are supported from the moment you offer them the job! Great onboarding underscores your company culture so get it right from the get-go!
WORK/LIFE BALANCE IS NOT JUST A LINE IN A RECRUITMENT AD
If you are going to say that your business offers great work/life balance, mean it. If your employees are consistently working well beyond knock off time because work just needs to get done, you need to look at what is going on. Do your people have the training or skills to do the job or do they require upskilling to improve output ability? Are the long hours just a blip based on the current project or is this an ongoing issue that requires a process overhaul or more bums on seats to resolve? Whatever the cause, ignoring work/life balance is not a sustainable situation and you will ultimately lose top performers as they will seek balance elsewhere. (and there are plenty of employers out there offering genuine work / life balance and great levels of flexibility with regards to work).
ROOM FOR GROWTH
Do you offer career progression or support professional development in a skills specific industry? Sometimes it simply isn’t possible to offer promotions if you have a smaller business or a flat structure, but it shouldn’t stop you developing your people and building an incredibly knowledgeable and able team. Businesses that support development opportunities see less staff turnover and reap the benefits of having well trained, high achieving employees.
Hopefully one or a number of these ideas have prompted some thought for anyone struggling with retention. If you need help making changes to improve your current situation, contact the HR Staff n’ Stuff team and we will be able to talk through options that help you keep your employees and improve your business situation.
