At Victoria Lindfield Associates, our business is built on forming lasting relationships with our clients and candidates. It’s an approach that’s served us well, so we thought we would share some of our know-how to help you improve your employee retention.
When it comes to assessing the success of a business, staff retention often gets overlooked. But if you can keep your staff turnover to a minimum, then you have the building blocks for a strong and effective culture that will drive your business forwards.
Your customers appreciate dealing with familiar faces – people who understand them and their needs. Which in turn helps to promote loyalty and repeat business.
Effective staff retention also saves time, money and resources from being spent on recruitment – resources that could be used elsewhere to focus on doing what your company does best.
The key is to make employees feel valued. Most companies have a strategy for staff retention and they can take many forms. The good news is there are lots of ways to go about it and your strategy can be tailored to suit your organisation. We’ve put together a list to help you find your direction:
Employees can make up their mind about an employer very early on in their employment. So it’s crucial that you make a good first impression by getting their onboarding right. Make them feel welcome by maintaining an open dialogue right from day one, and if they’re working remotely, check to make sure they are finding their way around.
Working from home (WFH), either permanently or as part of hybrid working, has become one of the most desirable things an employer can offer its employees. The opportunity to cut down on commuting is said to promote greater productivity, improved mental health and the all-important work-life balance for employees.
Running a mentoring scheme across your business is the ideal way to nurture your employees’ development. As well as providing new starters with a familiar face to help them settle in, it also gives experienced staff a responsibility that can be very rewarding.
When staff can see you are investing in them as individuals, they feel valued. Understanding what they need to learn and grow – then delivering it – will make them feel that they are in the right place and encourage them to stay.
PROMOTE MENTAL HEALTH
Burnout and boundaries are hot topics at the moment. Setting rules and expectations about answering emails and calls out of hours will ensure everyone knows where they stand before any problems can arise. It’s also important to keep talking with employees about their wellbeing if you are to build trust and understanding.
Not all leaders are born, some are made. That’s why investment in leadership courses and training can be so important in building a content and productive workforce. If your leaders are effective, then your staff will see that and want to continue to work for them.
It’s the most obvious of all retention strategies. If you don’t pay what the job’s worth (or what the employee could get elsewhere) then you’re always going to be up against it. Combine competitive remuneration with the above strategies and your employees will feel valued, loyal and settled within your business.