Recruitment can be time consuming and costly, so it’s in a business’s best interest to retain the talent they already have. But in a competitive job market, with temptation at every turn, how can you ensure your employees stay with you for the long run?
We’ve put together some top tips on how to retain your staff below.
1. Provide quality management or supervision
A recent YouGov and MHR survey of 2,006 employees found that 55% had actually quit their jobs because of bad management, rather than a dislike of the work or company itself. Relationships at work are important for employees – after all, they spend a lot of their time there, so if a bad manager is causing them misery, they’re going to look elsewhere. In the same survey, 58% of respondents said that they did not think their managers were equipped to deal with the human or emotional sides of their jobs, so it’s important to ensure your senior team have good people skills and are well versed in effective management styles, to keep their teams on side.
Everyone likes to be told that they’re doing a good job and an employee who feels valued will go that extra mile for their employer. Recognition doesn’t necessarily have to be in the form of money either – perhaps you could offer an extra half day’s holiday, or a voucher for a meal or day trip out. Some employees may even just like recognition on the intranet or at a staff/team meeting – if you can personalise the rewards, even better.
3. Sense of purpose
A recent survey of millennials from Deloitte found two thirds claim to have chosen their employer based on their values, and four out of five indicated they needed to feel a sense of larger purpose to be satisfied in their work. With this in mind, it’s important to ensure your employers feel like they are doing something worthwhile in their day to day jobs, that their role is needed and that they are contributing to something that has a purpose. You can help this by ensuring your company has a good CSR policy and gives back to the community in which it operates and allows employees to be part of that too.
4. Chances to progress
Remember that exemplary employees want to learn and grow in their career, so ensure that you provide these opportunities as a company. Even if it’s not as easy to offer promotion due to the size of your business, provide chances to learn and challenge staff via courses, training or mentoring with a more experienced employee. If these opportunities aren’t available, a motivated worker will likely start to look elsewhere to progress their career.
As we mentioned in our recent work perks blog, salary is not the most important aspect of a role for a lot of employees, but of course it is a significant part of going to work! Ensure that you are offering proper and reasonable salaries for the jobs you are expecting staff to complete. It’s easy nowadays for employees to see what other companies are offering for similar roles and if you’re not competitive in this area, it may mean the difference between a member of staff staying or leaving.
If you are looking to recruit or would like some more advice on the topics mentioned above, please get in touch with us at Premier Resourcing. Call 0203 585 7286 or email us here.