What Does It Take to Retain Your Best Employees?

A Competitive Salary And Benefits

There’s no point trying to dance around the obvious and often most important part of what makes a job worthwhile to a worker. Their compensation does have a real impact on their decision to stay in a role or look elsewhere, and you can’t expect that being a good boss is a good enough replacement for it. Deciding how much to pay your employees is a balancing act of what you think they deserve and how much you can reasonably keep, but you should be willing to address the number if you’re worried that an employee is feeling underpaid and showing signs of frustration. Benefits also play a crucial role in retention, such as retirement plans, paid time off, and flexible working conditions.

Investment In Their Careers

All employees want to avoid a dead-end job. If you want to stop them from looking elsewhere for the next step, then supporting their growth internally is vital. Provide access for employees to build their resume with opportunities to learn new skills, training programmes that include certification, and even opening the doors to continued education. Investing in their development helps your employees feel valued, building a connection to the business that goes beyond the purely transactional. Find workshops, certifications, and programmes that can help your employees sharpen their skills and stay motivated. You can also create specific employee development programmes with their help, showing that you want their input on the trajectory of their career, and offer the support to help them take the next steps to get there.

A Path To Progress

Of course, if you’re training up your employees but you don’t have anywhere for them to go next, then they’re still likely to eventually take an opportunity that presents itself elsewhere. Sometimes, this is inevitable, and investing in training is still important as it retains them for longer, at least. However, if you want to hold onto them for the foreseeable, then providing internal paths for progression and promotion is vital. Employers often look externally when they’re hiring for certain positions, including management and leadership positions, but finding the leaders that already exist in your business and giving them the opportunity to take on those new responsibilities can help you create a company culture that makes clear its investment in the long-term collaboration of the whole team.

True Mentorship

As people progress in their careers, they don’t just want new skills and opportunities to grow, they want support from those with a vested interest in their path, as well. Creating a strong mentorship in your culture connects your employees with experienced professionals who can provide insights, career advice, and encouragement. This creates an environment of learning and growth, making employees more likely to stay with the company. Mentorship is about ongoing support, real engagement, and helping employees build a network. Encourage the leaders in your company to take on mentorship roles and be on the lookout for promising workers who could use your own personal attention.

Their Input And Engagement

Most people want to feel heard and valued where they work. Sure, some may be happy to clock in, do their part, and clock out, and that’s not necessarily a bad thing. However, you should always offer the opportunity for people to share their thoughts and feedback on things like workplace improvements, how to handle certain challenges and even ideas that can improve the products and services your business provides. Starting with simple employee engagement surveys can help you see where your team is in terms of feeling connected with their work and the company. However, you should also open the door to one-to-one meetings and forums for discussion that can invite the most engaged employees to share more. Not only does it show employees that you’re interested in their viewpoints and insights, but you can truly get valuable input if you’re willing to listen.

A Healthy Work-Life Balance

Burnout is one of the leading causes of employee turnover. If employees feel overworked, undervalued, or unable to maintain a personal life outside of work, they will likely seek opportunities that offer better work-life balance. Companies that prioritise flexibility, reasonable workloads, and time off help employees stay energised and engaged in their roles. There are plenty of ways to help employees maintain a better work-life balance, such as allowing for remote work options or flexible scheduling. Similarly, ensuring that employees know they have the opportunity to take time off or to say no to overtime, can ensure that you’re not putting undue pressure on them.

Concern For Their Health And Well-Being

It is every employer’s responsibility to ensure that their workplace is safe for their employees. As such, you need to ensure that you’re fully aware of the various health risks that exist in your workplace and what you can do to mitigate them. The answers might be obvious for places like warehouses, construction sites, and the like, where preventing physical accidents and injuries is a common concern. However, the need for an eye on their well-being and safety extends to workplaces like the office, as well. Ergonomic furniture, effective lighting, and stress management programmes can help you tackle the risks most common in these kinds of workspaces, too.

Recognition And Reward

It’s a simple reality that people want to be recognised and appreciated for their hard work. However, some employers have the incorrect attitude that their pay is how they show that appreciation. Sometimes, even a simple “thank you” or acknowledgement of the effort your team puts in can help them feel like they’re being seen for the work they put in. However, you should also consider both formal and informal recognition programmes, from performance-based bonuses and rewards to simply recognising the contributions of workers during team meetings. Acknowledging their contributions builds morale and helps them feel that their work is worth the effort they put in, which is especially important for those workers who will go the extra mile when they need to. You should be ready to put in a little extra to thank them, too.

A Shared Purpose

A lot of people find value in the nature of their work, itself. However, many want to feel that what they do is also connected, contributing to something bigger and with real meaning. This can be especially important in support positions that facilitate and enable the work of a team around them. As such, it’s important to help employees feel connected. You can help them feel connected to the team they work with through team-building exercises, company retreats, or even the occasional night or meal out together. But you also want to help them feel connected to the company’s mission by communicating its purpose, values, and goals, and how the individual worker fits into that bigger picture.

The answer to “how do I retain my best workers” is that it takes real effort, time, and money. There’s no quick fix to make them want to stay, it requires a work culture that recognises and values them from the ground up.

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