It’s not just about your office being a good place to work anymore; you’ve got to ensure that you have a core team of great employees. Employee retention is one of those components that result in a business thriving or diving, and can be very stressful for anyone looking to keep employees on board. At the same time, people need change, and with the influx of remote work and flexibility in certain companies, employees are looking for the right company to work for, which might not be yours. With this in mind, what are the key factors that drive employee retention?
1) The Outward Perspective
You can undertake new hire surveys to get an insight into this, but when someone has just started working for you, they, naturally, don’t want to rock the boat. Seeing the perspective of your business from the outside, especially in terms of online reviews, can mean a big difference between hiring the right person, and settling for pretty much anyone. You have to look at your perception, not just from within your office, but outside it as well.
2) The Flexibility In A Work Schedule
It’s not just about clocking in and clocking out. We have to accommodate each individual member of our workforce on their own terms. One of the biggest values of the modern workplace is flexibility. And when we see that there is an increase in people being self-employed, as well as those working from home on a full-time basis, the workforce demands this flexibility, not just so they can do the work as they please, but that work-life balance is set in stone.
3) Recognition For Performance
Employees need to be recognized for their skills. In an organization where there is poor communication, there is a lack of employee engagement, and as such, recognition and achievements are seldom rewarded. You can fix this by getting an employee management system that keeps tabs on every employee and the skills they have attained. Providing recognition is vital, not just for the business, but morale across the board.
4) Providing Benefits For Health And Wellness
While we spend approximately 60% of our waking hours in the workplace, we’ve got to ensure that the environment nurtures our health and wellness. Gym memberships or healthy snacks are little things that can influence an employee’s decision to stay with you or not. Perks of the job are all well and good, but people need to be healthy at the same time. Stress is one of those issues that is commonplace now, but many organizations seldom have the tools to deal with it. As a result, the small perks to promote health and wellness are crucial, but so is the HR framework to support people if they undergo difficulties.
Keeping employees on board is even more difficult than ever before, not just because of the abundance of organizations out there that provide flexible working, but each employee is an individual looking to forge their own path in life. If we want to keep people on board, we’ve got to provide the perks, but we’ve also got to look at their journey in a holistic sense.