Employee retention can have impactful consequences on a workplace, and affects everything from morale and culture to productivity and profitability. It’s easy to see why maintaining high employee retention is such a big deal for employers. In fact, a recent study by Future Workplace and Kronos found, “87 percent of employers cite improving retention as being a critical priority for their organization.” Here are some ways to keep your best people around for the long haul.
Putting an excessive workload on any one person can create tension and resentment. To avoid overworking your employees, divide tasks equally so everyone shares the responsibility. This is one of the best ways to both reduce stress and improve morale.
Career progress is important for most people and especially for millennials. According to the Harvard Business Review, having the opportunity to learn and grow was the number one most critical factor when deciding to apply for a job. While major career development may not be possible for every position, look for ways to develop each employee’s skills.
As an employer, your word is often your bond. To avoid dissension, your employees need to know they can trust you and you’ll follow through with any promises you make. Think it through before making commitments, and always honor the ones you do make.
Challenge is what leads to growth and gives employees a chance to improve their skill set. Make it a point to give them problems to solve from time to time, so they can become the best possible version of themselves.
Promote the Right Person
The Harvard Business Review also reports that having the opportunity for advancement is important for workers and millennials, in particular. When you see a person clearly possesses the right knowledge and skill set along with a strong work ethic and a proven track record, go ahead and promote them whenever possible. Promoting internally like this is huge for strengthening your culture and should provide all employees with ample motivation.
Excessive turnover is a problem that plagues many of today’s businesses. But it doesn’t have to impact your company. By getting into the habits listed here, you can make your workplace a more desirable and fulfilling place to be.
Need assistance with your recruiting? Contact Axiom Staffing Group to see how we can help.