In today’s competitive job market, retaining talented workers should be a top priority for employers. Unfortunately, far too many businesses are focusing their attention on their immediate needs without considering the long-term, which can prove to be a costly mistake. Failing to invest in your staff can result in reduced productivity, lowered morale and high turnover rates – all of which can affect your company’s bottom line. So, if you want to secure a loyal and committed workforce, you’ll need to turn your focus to staff retention.
Encourage career development
Whether you’re providing greater responsibility, drawing up a plan for job advancement or offering training opportunities to help develop their skills, investing in your employees’ career goals can help to increase loyalty. As human resource specialists Penna highlight, helping employees reach their full potential can in turn drive engagement, performance and productivity.
Setting realistic objectives in line with their strengths while encouraging them to take a proactive approach to their professional development can make individuals feel like valued members of the team. Perhaps they want a promotion or a change of direction, or maybe they want to develop in their current role. Whatever their needs, take the time to help your personnel achieve their ambitions.
Maintaining open communication between employees and managers can help to create a sense of community, which is crucial when it comes to building a loyal and stable team. Being completely transparent about the goings-on in the business, even through difficult times, and having an open door policy can help to foster trust and increase job satisfaction. Another great way to help keep staff motivated is by holding regular company meetings where everyone’s voice can be heard.
Listen to your employees
Many managers make the mistake of waiting for the exit interview to find out why someone has decided to leave. By then, you’ve already missed out on the chance to identify problems and put them straight. The solution? Listen to your employees.
Rather than being an afterthought, make sure their needs are continually addressed by providing regular, ongoing appraisals. If you want to measure employee satisfaction, try sending out a quick questionnaire to get an understanding of your workers’ viewpoints. This can help you to identify any issues and deal with them straight away. Even if the problems can’t be sorted out immediately, employees will recognise and appreciate that they are being listened to.