As businesses and individuals face a shaky economic landscape, employee retention may not be the top issue on many employer’s minds—but there’s no time like the present to take steps to improve team spirit, encourage performance improvement and ultimately, instill loyalty.
Here are five ways employers can proactively focus on employee retention:
1) Encourage employee creativity. When an employee feels like they’re stuck doing the same job day after day, it will be an easier decision to jump ship if offered the chance. One of the best ways to help prevent this type of drone-like feeling is by giving your employees a new project every six to 12 months with a focus on something they find engages their creativity. It’s a win-win for both the employee and employer.
2) Create an environment of positive feedback. Giving positive feedback on a routine basis motivates employees to put their best foot forward. While constructive feedback is necessary, think about how much positive feedback you’re giving compared to constructive. The first step is being aware of the ratio of positive to constructive feedback and then moving the ratio toward six positive comments for every constructive comment.
3) Challenge your employees and encourage failure. When the right situation arises, challenge your employees beyond what they’re used to doing. Allow them to see failure as a learning opportunity and give them a chance to take a risk. The idea of finding a balance between supporting what they do and challenging them is not an easy task, but starting with small projects outside an employee’s wheelhouse can help retain employees and create growth opportunities at the same time.
4) Make your employees feel like their input matters. Every employee wants their voice to be heard and their work to be recognized. At the end of the day, they are there to help the business achieve its objectives. Instead of employees being another cog in the wheel, sit down with each of your employees and have a conversation about their duties and role within the company.
5) Foster a better work-life balance. Work-life balance is a common topic of conversation, but not easily implemented. While expectations are high for most employees, it’s important to make sure team members have adequate time to take care of themselves and enjoy what life has to offer. It’s important to make sure employees take the time to reset, recharge and take advantage of some “me time.”
These steps are high-impact and low-cost, but take some conscious effort on the part of the company to implement. With any new initiative, it’s important to walk before you run. Survey your employees this month, see what is most important to them and take action based on the results. This will ensure you’re offering perks or growth opportunities that are important to your employees.
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