How Can You Improve Employee Retention?
Improve Your Employee Retention Strategy With These Four Steps
Losing employees cost a lot of money. Every year, organizations are spending thousands of dollars training what seems to be a revolving door of employees filling the same positions. But what can you do to improve your employee retention?
Put the Right Managers in Place
According to Gallup, the number one reason people leave their jobs is due to how they are managed. Are your managers equipped with the skillset to effectively lead? They need to have the emotional intelligence and listening skills to deal with all types of people. Managers that have it are able to establish loyalty among their fellow workers.
Your employees also need to feel comfortable communicating with management. They need to be able to offer feedback because this is the information that helps management better interact with and lead employees, but it also provides the groundwork for changing how an organization operates.
Are your managers leading by example? If not, you may have the wrong people showing the wrong way to do things around your business.
Reward Positive Behaviors
When employees leave, they’re often given an exit interview. You’d be surprised how many times they say that they didn’t feel appreciated. Sure, employees are paid to do a specific task and in many ways their reward is that paycheck every two weeks. However, that’s often not enough for the average employee who needs to be recognized for their efforts.
Sometimes the deadlines are brutal, and they’ve got to go the “extra mile” to complete work in a timely manner. These efforts need to be pointed out by management so the employee knows they’re not taken for granted.
Empowerment Earns Productivity
Most employees are aware of expectations and goals the company has, but they’re often left feeling like they have no sense of control over their career. This can lead to them feeling like they’re in a dead-end job. Most people are inspired by the prospect of moving up and progressing in their careers.
You need to clearly communicate what is expected of your employees and talk to them about plans for the future. Offer them regular feedback so they see that you notice their efforts and that you’re invested in their understanding of the position and their advancement.
By utilizing the predictive index, which includes a behavioral assessment, you can see various skillsets in your employees and applicants. At PI Consulting Group, we’ve worked with organizations in many industries to help them leverage their current talent pool while assisting in helping them onboard the right people for the right positions.