After the extensive time and efforts being put into the recruiting process, it is crucial to lay out a strategy to retain the right talents. Cultural quirks, vacation benefits, and lucrative increments are not enough to sustain quality personnel, job satisfaction plays a significant role in holding employees for long.
“Train people well enough so they can leave, treat them well enough so they don’t want to”- Richard Branson
Employees are assets; even if everyone will not like every aspect of their job, it is your duty as a reputed employer brand to provide stimulating challenges and give space for their innovation to run in a positive workplace environment. Engaging with your employees instead of preaching them and take care of how they feel; it will help them grow and make them feel appreciated- in the long-run.
Causes of High Employee Turnover Rate:
- Toxic company culture
- Lack of career development opportunities
- Lack of recognition
- Biased treatment
- Equal work division- 70% of employees feel overwhelmed with their workload; make sure work is evenly distributed across departments. If you find out your staff is overworked, hire new employees or maybe bring freelancers into the mix.
- Workplace environment & productivity- Work culture and employees’ productivity is co-related. Take pro-active part in knowing how your employees are feeling and if they are not satisfied; what can be done to improve the environment.
- Employees’ growth- Everyone wants to grow in their career; if employees are not provided with enough career development opportunities, don’t be shocked when there is a sleek exit. Start various employee development programs and keep your doors open for them to knock if they have an opinion.
- Employees’ recognition- Give credit where it is due. When employees are not recognized for their efforts they feel demotivated which in turn affects their productivity and work ethic. Use the magnet of Employee value proposition and reinforce your employee recognition program.
- Unbiased Treatment- Don’t play the favoritism game. Partiality between your employees makes them feel inferior & under-appreciated. Treat them equally and encourage the team spirit; because not only it makes a positive environment for every individual but ensures effective and efficient goal driven actions.
According to the result of a survey published in Forbes, 60% of candidates said they didn’t feel that their career goals were aligned with the organizations’ goals that their company had for them. More astonishing is that more than 70%said that they didn’t feel valued or appreciated by their boss.
A company’s most quality resources can have meaningful effects across the firm. But when burgeoning talent is misidentified, uncared for, or unrewarded, these employees become a drag on overall performance of the business. Their disengagement and eventual derailment can lead to depleted leadership ranks and damage employees’ dedication and retention.
Work on your company culture; culture inclusiveness plays a huge role in sustaining the employees, big words and not following up with them breaks trust and affect your personnel grit and dedication for the work.
Companies like Dell, Google, IBM and Microsoft etc. work strategically to sustain their employees by providing them with personalized learning, guidance and invest hugely in their Employee Value Proposition Programs. Although not every company can invest large sums on these perks but a little care and thoughtfulness goes a long way!
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