7 ways to improve employee retention
A conveyer belt of people running out the door is very bad for business.
It can have a negative effect on employees’ morale as they end up lumbered with the work of their colleagues. It can mean you have to spend valuable time and resource searching for a replacement and hiring a temporary worker to cover immediate needs. Worst of all, if an employee leaves on bad terms, they can cause all sorts of legal and reputational risks.
Worrying, isn’t it?
Rather than fretting, try these seven ways to improve your employee retention.
1.Get your recruitment processes spot on
Make sure you are selecting the right people for the roles you are recruiting for. Although you can never guarantee how an employee will work out, you can make sure you have robust recruitment processes in place to assess an applicant’s suitability.
You should also refrain from giving candidates unrealistic expectations because this will lead to great dissatisfaction and disappointment when they realise the promises will never materialise.
2.Give good inductions
An induction should not just be a formality or tick box exercise. You should use this opportunity to make new recruits feel part of the organisation and welcome by all. Make sure you provide them with a good overview of their role, team or department. You should also share your values and goals so they can start their role feeling positive and enthusiastic.
3.Give regular feedback
Employees want to feel valued. Providing regular feedback is a good way to do this. If an employee has done a good job, give them praise and celebrate their successes. If there are issues that need to be addressed, focus on giving them the support and tools they need to improve.
4.Explore flexible working arrangements
Employees may end up leaving if they cannot effectively manage their professional and home responsibilities. Whether it is job sharing, part-time work, staggered hours, compressed hours or home working, you should consider different options to see what works for you and your employees. Our HR specialists will be able to help.
5.Look into your management practices and culture
It is not an easy task, but sometimes we need to take a step back and question whether there are any problems with the organisation’s management practices and culture. Are company values being upheld? Are grievances being taken seriously? Do employees feel supported if problems arise? Is there a tendency to micro-manage? Is there conduct that is tolerated which shouldn’t be? Are steps being taken to reduce stress? Do you consult and communicate with employees about change? Answering these hard questions may help you identify some key areas to improve on and help you retain key talent.
6.Review your pay and benefits
Pay structures need to be reviewed to see if they are in line with the industry and your competitors. Of course, you need to be realistic about what is viable for your business.
You also need to think about whether the benefits you offer correspond to what employees want. Workplace perks don’t have to break the bank. For example, you could consider free parking, providing treats, discounts on events or allowing dogs in the workplace.
7.Think about career progression opportunities
Many employees, especially younger workers, particularly value their employer thinking about career progression opportunities and are turned off if this is not given much thought. Are people being promoted from within? Are you giving people the tools, resources and opportunities to progress? Do employees understand their career pathways? Are you investing in training and development? All of these can help retain valuable employees.
Don’t just ignore a high employee turnover – investigate why people are leaving and adopt the most appropriate retention strategies.
Don’t be complacent – just because it is not a problem now, doesn’t mean it won’t be in the future. It is important to monitor the employee turnover rate and keep accurate records to see if you can identify specific trends or patterns. Exit interviews, appraisals, intranet discussions and surveys can all assist with this. As soon as you notice a problem, nip it in the bud to avoid it spiralling out of control!
If you need support, contact our Employment Law Advisers 0345 226 8393 who can guide you.