In the UK, the average worker will change jobs every 3 years and when a member of your team leaves, it can completely change the dynamic of your business – the impact of this can be huge. So, what can you do in order to retain your valued staff?
Offer and show clear opportunity for career progression
In 2015, LinkedIn Talent conducted research into why employees are most likely to change jobs and found that 45% of people left their current role because they were concerned about a lack of career development – the best people within your company will most likely be highly ambitious and forward thinking, so if they cannot see a future with your company they will ultimately begin looking elsewhere. To ensure this doesn’t happen within your organisation, provide your staff with a clear pathway and a plan of action to reach their goals and to develop their career.
Develop a great company culture
Creating a great company culture is all about supporting each other, talking through any issues, ensuring that everybody is certain of their roles and their position within the company, but most importantly, it’s about listening to what the people within your business want and need.
Your employees are at the heart of your company and its culture, so if you can work on keeping your employees happy they will ultimately keep your customers happy, which works well for everyone. Your focus should always be on the people within your company and what you are doing to ensure they love coming into work every day.
Hold regular reviews
Almost every company will hold some form of review or appraisal and unfortunately, this can often just be a box ticking exercise. If you really want to understand and learn more about your employees, make sure you invest time in them!
By conducting regular reviews, your employees can speak honestly and openly to you about how they find your management style, workloads, personal motivators and anything else effecting their ability to operate at full capacity and enjoy their working environment. You then have the ability to react accordingly and ensure they are content working for you before it’s too late and they have already accepted another offer elsewhere.
Be understanding and adaptable
Creating an effective work-life balance is critical for many people, as it helps them focus on what’s most important in both areas of their lives. However, it’s vital to remember that your staff are still human and will encounter issues in their personal lives which may have an impact on their performance at work.
If you can be understanding of their requirements in these situations and offer things such as flexible working and other practical solutions, you will be rewarded with their loyalty.
Offer effective soft benefits
Soft benefits in the workplace are non-monetary incentives which may encourage people to work for you and stay working for you. Some examples are listed below:
- Flexitime – allow staff to work hours that work for them and the business alike
- Offer free gym memberships – this will also improve people’s stress levels and keep them more engaged at work
- Be flexible with annual leave and time in lieu and be reactive to busy and quieter periods
- Free tea/coffee in the office or even free snacks
- Create different environments within your office where people can go to work – this may include their normal desk, an area of hot desks if people want a change of scenery, an area with sofas/beanbags for more creative task or break out areas
Soft benefits will make a huge difference to your staff retention rates as it makes people happier within their work environment. At its core, this is the secret to retaining the best members of staff. If you support them in achieving their personal goals whilst providing them with an enjoyable working environment, they will continue to work for you, and help your business achieve much more than expected.