How to Hit Your Employee Retention Goals
Gaining access to quality personnel drives success for any organization, but that’s only half the battle – you have to keep them engaged with your company culture if you are going to meet your employee retention goals.
When your retention rates are high, you’re doing something to keep employees satisfied with their job and their future goals. Happy employees equal productive employees. If your retention rates are low, your outgoing team members are probably leaving for one of the following reasons:
- Poor relationship with management
- They’re seeking better compensation
- The job description didn’t match actual duties
- Company culture isn’t a good fit
- No educational/career advancement opportunities
- Onboarding program is lackluster
A poor relationship with management is one of the most often cited by employees in their exit interview as a reason for leaving. Coincidentally, when your staff members are asked why they stay with a company for extended lengths of time, it’s often because of a quality relationship with managers. This topic opens the door for further scrutiny in how you’re promoting people to leadership positions.
Quality managers are great communicators. They show a great deal of empathy and cater to each individual’s needs. Quality managers are also aware that there is no one-size-fits-all way of leading a team. On the other side, when managers are not equipped for the role, they’re often quick to lay blame on employees, may spend little to no time working to understand how tension in the workplace can be resolved and they can have poor interpersonal skills.
Salary and benefits are important, but today’s workforce looks beyond that for benefits. They want options in how they spend their day being productive; some will want remote work options, whether it’s from home or a coffee shop around the corner. Lending them this will show that you trust them to be accountable, and it can establish a higher sense of loyalty to your company.
The initial contact your job candidates have with your company culture is most often the job description. Before you post anything, make sure the description of the job has been updated. Furthermore, all outreach content should be consistent with your company culture. You’re putting your brand out there, even in a job description, so pay close attention to every aspect of your outreach.
The definition of onboarding has evolved. It’s no longer a weeklong process. It can now extend to a year or more. It should involve everything an employee needs to settle into a position without facing an uphill battle of learning the ropes by being thrown in the deep end and being made to fend for themselves. Onboarding should involve a robust mentorship program and ongoing education efforts that ensure employees are confident in their position. Companies with high employee retention rates understand this and constantly fine-tune their onboarding approach.
The PI Method
The best onboarding process and management can’t keep employees happy if they’re a bad fit to begin with. By using the Predictive Index, which utilizes a behavioral assessment to offer deeper insights into job candidates, can help you to avoid the risk of hiring the wrong people. At PI Consulting group, we’ve got years of experience analyzing assessments and we can help you with your hiring process. Contact us and let’s discuss our scientifically proven methods.