No business sets out to not retain their employees; however, for reasons sometimes beyond an employer’s control, staff leave their posts within the business and go onto another workplace. However, employee retention is not all out of your control; there are strategies you can take within your business to help retain your employees; what are the best employee retention strategies?
1.Avoid a toxic working culture
Nobody wants to come into the office every morning and feel like their walking on eggshells, scared they’ll do or say the wrong thing as soon as the workday begins. A pervasive fear of failure within the workplace creates a toxic environment that does not welcome employees to be their true and best selves while at work. Likewise, knowing everything they do at work isn’t good enough also creates a room full of unenthused workers; negativity helps to fuel that gloomy vibe everyone else in the room is probably also aware of. How is this combatted? Positive reinforcement and recognition of when someone has done an excellent job at work motivate workers, and as a result, they will probably be more productive.
Constant gossip and cliques also create a hostile work environment; this creates a lack of team culture and can isolate some groups within the workplace. You never want employees to feel like they’re missing out on some ‘special club’. The workplace should be a safe and inclusive environment for all workers regardless of their role or seniority.
2. Not sure if your workplace is toxic? Ask.
Any issues employees may have within the workplace can be found out and solved by simply asking employees. A few times a year, make the time to ask employees what they think could change within the workplace; this can be done by hosting regular round tables or surveys to hear about people’s ideas. Doing this creates an excellent opportunity to allow workers to voice any grievances they may have in a comfortable, open environment. Some people may have something bothering them at work and may not be comfortable discussing it in an everyday setting; setting aside time to air any issues allows them to do so.
3. Provide a competitive salary
Almost every business claims to offer a ‘competitive salary, but many employers don’t actually know what having a competitive salary means. A competitive salary refers to the regular pay an employee receives from a comparable job to the amount others receive in the same industry. In layman’s terms, the average salary for an Account Manager in the UK is £35,037, meaning if a company states they offer a competitive salary. This salary must be equal to or (ideally) more than the industry standard for similar positions in the same area. If you want to keep your skilled staff members, offer them an excellent competitive salary to compensate them for the hard work and skills they bring to your business. Competitive salaries can sometimes change depending on the regional location of the role; regardless of these factors, the salaries you offer should reflect basic supply and demand at the time and the cost of living. How To Ask For A Pay Rise – Zenith People
4. Promote a work/life balance
Following the Covid19 pandemic, flexibility surrounding work has now become a necessity, not a luxury. The demand for a work/life balance is now more vital than ever; more and more businesses are now offering agile/remote working as a standard. This work structure is the modern way forward, and the benefits outweigh any worries employers may have about adopting this within their business. (Link). Get ahead of the inevitable and offer remote and agile working to employees; find a structure that works best for your business. More and more employees are leaving their roles (even if they like their job) for remote and agile work as this option is too good to give up.
This working structure also considers any mental health problems and neurodiversity, contributing to an exclusive and productive workplace with practices that suit everyone, not just a handful. Incentives aren’t enough to keep a persistent workforce anymore. Working from home has proved to be a great employee retention strategy as it helps to keep employees motivated and focused. Not sold? Check out this post by Blue Signal for more insight! Is Allowing Staff to Work from Home the New Key to Retention? – Blue Signal Search
5. Hire the right people for the role
Seems obvious, right? Because it’s just that easy. Well…maybe not. After interviewing a candidate, you may think they’re great, the best for the job, and skilled. However, a few months into their role, you realise that isn’t the case. Some people interview well, and when it comes to working, they either aren’t a good fit within the business or struggle with aspects of their role.