We’ve all been there: you start the week already short-handed and suddenly one key player resigns. As you scramble to make sure you have enough coverage until you can hire a replacement, you can’t help but wonder what could have been done to retain the employee. While we can’t deny that salaries play a role in enticing employees towards a potential role, multiple factors can help build a long-lasting relationship with your team. If there’s anything we’ve learned recently, it’s that it’s not always about the money. By the time your employee evaluates other options, it’s highly likely that there are multiple factors swaying your employee’s decision to move away from the company.
Take a look at some areas that can help you retaining top talent in your business.
Take Time for Mental Wellness
Industries that are centered on provided care tend to have a high turnover as compassion fatigue and physical exertion can take a toll on the employees’ well-being. The conversation around work-life balance has gotten more traction in the last few years with the onset of the pandemic, and employees are more likely to reconsider their current position if they feel unsupported at work. Improving work-life balance can mean flexible schedules, but it also means making sure your employees are prioritizing their mental and physical health. Consider sharing stress management strategies and creating wellness initiatives that encourage your employees to disconnect and take time for themselves. An Employee Assistance Program (EAP) can also provide valuable resources for your employees as well as counseling for personal and work-related issues. Another important area you can consider is prioritizing personal and vacation time for your employees. Taking Personal Time Off (PTO) allows your employees to unwind and return to work feeling reenergized and more motivated.
Foster Diversity and Inclusion
Diverse workforces can have many advantages, including increased productivity and creativity. Today’s world is more connected than ever and having a diverse set of skills and ideas is key not just for your business but also for employee retention. Employees want to be in a place where they feel represented, and a diverse workforce where they feel appropriately represented allows them to better relate to the company by promoting the message that your organization is open to different perspectives and ideas. Having a diverse workforce also gives you access to a wide range of talent from different backgrounds, ethnicities, and worldviews, which in turn makes your organization even stronger. A strong diversity and inclusion strategy can give your organization the edge in attracting top talent and driving innovative results. Have a few minutes to learn more about this topic? Check out our webinar to learn more about how to create a more inclusive environment.
Many experts now suggest that the traditional idea of an annual performance review is outdated since employees need feedback and input a lot more frequently. Providing regular on-the-job feedback allows both you and your employee to work together to craft a career path that benefits both their professional growth and the organization. Establishing regular check ins opens a two-way conversation that will allow you to understand any issues that are affecting your employee’s performance, creating a space for respect and trust. Giving feedback is just as important as collecting feedback. Encourage your employees to share what would make a difference in their day-to-day. Maintaining open lines of communication will help you have a pulse on employee satisfaction in your company and will reduce the chances of something catching you by surprise if an employee is unhappy.
Pro Tip: Building a culture that fosters employee retention will also help your business attract top talent. A better candidate pool with potential employees that are aligned to your mission will also improve the overall health and longevity of your team’s tenure.
AlphaStaff is here to help. If you have any questions regarding this topic, please reach out to firstname.lastname@example.org. Stay tuned for our upcoming webinar covering new trends in Recruiting and Hiring on September 26, 2022, click here to register!