With high levels of employment across the UK, it is becoming increasingly important for companies to ensure that they retain their key members of staff. Other opportunities in the marketplace are there to tempt away disgruntled employees and, believe it or not, their main reasons for jumping ship are rarely to do with their remuneration package!
Surveys consistently reveal that people mainly leave for reasons related to job dissatisfaction, relationship issues with their line managers, or not feeling an integral part of the plans of the organisation. Whilst their mortgage needs to be paid, most employees also need to feel that they are making a difference.
Whilst some churn is unavoidable, key employees changing jobs is costing companies a fortune, so here are some TOP TIPS that will save you time, money and unnecessary heartache:
Good pay and a solid career path
This has to be the starting point as key employees are far more likely to stay on if they receive the pay and position they desire. They will also have plans and ambitions both for their career but also for their families so demonstrate how your best employees can rise through the organisation.
Invest in their training
Not just in order to do the job today but to further their qualifications and ideally prepare them for promotion opportunities within your organisation. Even if these qualifications may make them more attractive to other companies, the individual will respect that your organisation is investing in them and this behaviour encourages their loyalty.
Create a great workplace environment.
Companies with the best atmosphere at work, flexible scheduling, home working, gym membership, in-house ping-pong table with chill out areas etc. find it easier to keep their talented employees. Health benefits and fitness initiatives also show that you care about your staff, which in turn makes it far easier for them to show that they really care about your customers!
Trust, empower and engage your employees
Do you want bored clock-watchers who simply turn up and leave on time or do you want staff who really perform? So, within a loose management structure, encourage feedback and innovation. Help them to find new ways of improving the efficiency of current processes, or to bring new ideas to the table. It is often those people on the coal-face who can best see how to improve the customer experience, for example. Then recognise those key people who thought of the improvement.
Recognise, Reward And Award
As much as we may have evolved as human beings, we are still aware of our place and status within our "tribe". It is a natural instinct to wish for our status to be properly recognised and, for many, to be advanced at a reasonable pace. So find reasons to recognise employee achievement. Whilst they may not admit it, a "best employee" trophy displayed in their bathroom at home is actually worth more than a 5% salary hike to many people! And buying the "trophy" will cost your company significantly less money!
Align Talent with Goals
In larger organisations, many employees will have no understanding about how their individual efforts fit into the greater organizational goals and achievements. They will become disconnected and bored with simply completing a task without knowing the context of their contribution and how it helps others to meet the corporate goal. So, arrange monthly one-on-one meetings or utilize a talent alignment system to help employees see the bigger picture and how they are a key part of the process.
Great and Regular Communication
This is probably the most important item on this list... and the item where most organisations fall down! Employees need to be able to discuss successes, share great advice, and raise issues and problems before they lead to falling company morale.
Employees want to feel involved so hearing corporate success stories will make them feel a member of a successful business and less inclined to jump ship.
Involve and include their families
Your employees will usually consult their significant partner before making any major decisions on moving jobs. If their partners have never engaged in your organisation, they will have a very one-sided view of the organisation - usually the complaints and negative utterances from the employee.
Additionally, they may have desires and aspirations for their family and without engaging with your organisation they may put pressure on your employee to seek greener grass elsewhere.
Involving and thanking the partner for their support in helping your employee to achieve their aligned goals will create an ally rather than an unconscious enemy.
Train Your Line Managers!
One of the major reasons that people leave their jobs is that their relationship with their direct line manager is going wrong or has broken down. Nine times out of ten this relationship could be fixed or the fallout avoided by improved communication and a better understanding from both parties about the pressures that they are both under and how a mutually supportive relationship could benefit both parties.
This removes the boss/worker dynamic and replaces it with a goal-oriented support system where the manager provides the environment and tools to help the team member better perform to their mutual benefit.
Many forward thinking companies also ask their staff to assess their manager's performance as a line manager during their annual review processes...
Whilst decreasing churn is an essential business task, sometimes, no matter what you do, a key employee will leave. Long-term illness, family consideration, relocation, entrepreneurial desire to start their own company may be factors simply beyond your influence and control. Unfortunately, this is simply a fact of life running a business.
So, you need a plan to cope with this eventuality.
It will not surprise you to know that, at Jackie Kerr Recruitment, we are your solution to this problem. We take great pride in maintaining our ever-expanding living, breathing Candidate Database. When your Marketing Director, for example, unexpectedly reveals her intent to leave, we already know dozens of suitable replacements who may be ready and interested in moving to a new challenge...
Are you looking to attract talented individuals who will help grow your business?
Call us for a chat on 01793 762026 or email Jackie and her team at: firstname.lastname@example.org.