It’s discouraging when your valued team members decide to leave and go to work for a competitor. After saying goodbye, you might be asking why your employee left. Often, it’s not a single issue that drives employees to look for an exit. That’s why we’ve compiled a list of the 10 best employee retention strategies you should be using.
Best Employee Retention Strategies
You may not need to score high marks for all the items on the following list. But you do need to show your employees that you value them and their input. These action items serve as great ways to boost retention.
Do a better job of hiring
The path to improved employee retention is partly paved by an organization’s hiring process. If you want your employees to stay with the organization, start by hiring people who are a good fit with your mission and the kind of jobs you have available. Too many companies are rushing to hire applicants who may not be the best fit, simply because they fear nobody else will apply. Managers who use psychometric assessments as part of their hiring process will have better outcomes in terms of employees who will stay with the company.
Improve the onboarding experience
Few people enjoy their first day or week with a new employer. There are names to learn, buzzwords to figure out and internal systems that everyone else has memorized. Forward-thinking employers have developed an onboarding process to put new team members at ease and help them with the transition. A successful onboarding experience goes way beyond taking the employee for lunch on day one. Consider assigning a mentor to the new employee and check in with them on a weekly basis about how their transition is going. Making this kind of effort sends a message of caring.
Match the employee to the right manager
Studies have consistently shown that an employee’s relationship with their manager drives more turnover than any other factor. Managers aren’t always bad at what they do. But they may have a work style that doesn’t fit well with what the employee needs. Some managers assign new projects without providing enough detail for a team member. Or managers may talk about how they conquered specific work problems when the employee would benefit from learning on their own. You can fix that problem by matching employees to the right managers. This may be among one of your best employee retention strategies.
Match job design to employee interest
From the outside looking in, an applicant may believe they’ll enjoy working at a specific type of job such as customer service. Younger applicants or those without significant job experience may not be able to accurately envision how they’ll feel when they have to deal with an angry customer. Managers can get ahead of this problem by analyzing the results of psychometric assessments the candidates take. If you find a candidate who doesn’t have a good fit for customer service but might otherwise fit into the organization, consider hiring them for a different position.
Improve the corporate culture
Corporate culture encompasses a variety of factors, including the workplace atmosphere. Employees appreciate an environment that is inclusive and welcoming. They want to be respected for who they are and what they bring to organization. Managers can set the right tone by behaving properly and acting quickly on any suggestion of harassment and intimidation.
Set up open workspaces
Gen Zers who are just entering the workforce are bringing along a unique perspective. After experiencing limited social interaction during the pandemic, they’re eager to learn about their jobs and the people they work with. These workers want the opportunity to do their jobs in an open layout and to interact frequently with team members of all ages. If you keep them locked them in a cubicle for hours on end, you'll be misusing one of your best employee retention strategies.
Improve mental health services
Gen Zers, along with millennial workers, are generally comfortable discussing issues of mental health. They also prize access to mental health benefits and services. Remember that these types of services extend beyond what’s available from the health insurance provider. They also include team-building exercises such as a day off to volunteer with their department.
Invest in professional development
With the pace of technological change increasing, it’s little surprise that employees are struggling to stay current. In addition, employees want to know they are valued and can continue their career path. Receiving regular professional development is an indication that their managers see a future for them in the organization.
Offer unique rewards
Businesses have long used incentives to keep employees committed and engaged. Keep in mind that over 50% of sales professionals reported the top aspect they sought from their current position was to learn new things. In that same survey, which we conducted last year, 47% of the same professionals said that time off is the reward they would most appreciate. Managers should expand their thinking when it comes to rewards and offer options that appeal to each team member.
Use exit interviews
Dealing with employee turnover is never fun, but savvy managers can learn something important from their departing team members. They shouldn’t miss the opportunity to conduct an exit interview. Doing so can lead to valuable insights and may serve as one of your most effective employee retention strategies.
Photo by Yan Krukau on Pexels.