Blog: 7 Employee retention strategies that actually work

Employee Relations

7 Employee retention strategies that actually work

A quick reminder for CHROs and managers to remember the fundamental principles of effective employee retention strategies.
7 Employee retention strategies that actually work

In today’s talent-strapped market, employee retention is a challenge that almost every organization faces. Consequently, business owners are looking for new ways to keep their workers from leaving. Here are seven employee retention strategies for HR employers and managers that actually work.

#1 Earn employee trust

Your employees must go to work with the confidence that they will not encounter meanness, misconduct, and unpleasant surprises on your part. A calm environment based on trust is imperative for people to excel. They need to feel like they are welcome in the workplace rather than feeling stressed at the prospect of work. At the same time, think about what they might be feeling and how they view different situations. You need to put yourself in the shoes of your employees and try to empathize with them. This is especially helpful when it comes to conflict, and you need to find some kind of compromise. 

#2 Hire the right candidate 

In practice, it is simpler and more economical to hire the right person than to come up with retention strategies to engage candidates that are not the right fit. In addition to that, people with the right attitude and motivation can also increase the productivity of your team, improve the overall work ethic and work culture, promote teamwork, and become a positive influence on almost every part of your business.

#3 Help employees maintain work-life balance

Give your employees flexibility so that work time is conveniently and effectively balanced with their personal lives. Their well-being outside of their jobs is just as essential as their well-being when they are at the workplace. If you don’t want to seem intrusive, consider having a survey with general questions about whether or not your employees are satisfied with the amount of time they have left for their personal life when they get back to work. Help employees struggling to strike the balance with additional support.

#4 Let employees be creative

Give your employees more freedom and remove obsolete restrictions. If other conditions are met, you will notice that they began to look for innovative and creative ways to solve problems. Keep in mind that true creativity comes from having the freedom to choose. All effective leaders realize that they can have a fair share of control over the creative decisions taken by their team, without limiting their creativity.

#5 Nudge employees to step outside their comfort zone

Earning the trust of your employees is as important as demonstrating your confidence in them. Gently push them to step outside their comfort zone and show faith in their strength. Once your employees are out of their comfort zone, you can start guiding them towards more risky situations and urging them to challenge their abilities to find innovative ways to approach current problems.

#6 Instil pride

Sharing brand values is a two-way process; your employees should share your values and your brand should reflect the ideals that the employees are passionate about. It can be environmental friendliness, charity, caring for children, anything resonating with common values. In other words, you need to find what your business is doing for the world that could be a way to unite your employees within the company. It’s a way to bring together people with common goals and interests.

#7 Cultivate a culture of shared successes

In one of the hardest lessons for employers and leaders,  do not skimp when it comes to wages and bonuses. The laws of the universe say that you must first give something to receive something in return. So, giving your employees an above-average salary is not just a matter of morals or dignity but will also benefit you in the long-term. If your employees are happy with their jobs – which includes being happy with their salaries – then they will be more than willing to stay and continue working at your business rather than looking for work elsewhere.

Employee engagement and retention are one of the biggest challenges in today’s business environment. Organizations must pay heed to the suggestions above and inculcate the essence of the steps to ensure that they have a healthy, happy, and productive workforce. 

 

Read full story

Topics: Employee Relations, #GuestArticle

Did you find this story helpful?

Author

QUICK POLL

Post-COVID, which aspect of work will technology impact the most?

2 months free subscription
q_auto,f_auto/v1593523489/mag-july-2020.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

Interested in daily dose of short & crisp insights from the world of work?