As a leader, do you believe that effective hiring alone is the answer to building a strong workforce? If so, you might be falling short.
Hiring the right people initially is important, but what’s just as critical—if not more so—is creating high employee retention. In fact, a recent study found that 87% of employers said improving retention is a critical priority for their organization.
With the high need to retain top talent, organizations must refocus not only on their hiring strategy, but on every aspect of their leadership and professional development programming. One of the most impactful ways you can improve your organization’s employee retention is by investing in your employees throughout the entire course of their careers within your organization. Just like you want to invest in long-term employees, most employees want to invest their time and energy into a job where they can grow and advance.
Let’s examine some of the ways you can retain your best performers and put your employees on the path to grow within your company.
Create an atmosphere of fun and engagement
No matter what type of organization you run, it’s important to remember your employees spend more time at work each day than they do at home with their own families. Therefore, they will be most inclined to continue working for an employer who doesn’t just value their talents, but also who they are as individuals. One of the most powerful ways you can retain your employees is by creating an environment that engages them in more than just their day-to-day work.
Consider providing perks such as weekly workout classes at the office, Friday happy hours, or free meals to celebrate birthdays or holidays. These types of benefits encourage culture-building and a sense of connectivity, which is important in keeping your employees happy with their jobs and daily workplace experiences.
Work with your employees on their goals
Your employees want to know you’re with them as they grow and develop professionally. Interestingly, a recent study by Udemy revealed that 46% of employees cite limited opportunities to learn new skills as a top reason for being bored with their current jobs and seeking a change.
Ideally, the leaders of your organization should work closely with employees to help them achieve long-term goals and set a path of advancement for themselves within the company. Rather than build a workplace that revolves around a constant turnover of entry-level workers, focus time and attention on training your current team for bigger and better positions that will ultimately bring your organization to the next level.
There are many ways this can be achieved, such as mentoring programs and professional development opportunities. Investing in your employees’ learning and development will demonstrate to them that you’re invested in their long-term success, which is something they’ll appreciate as they seek higher roles.
Promote flexibility and career mobility
Employees who commit to their employers usually see opportunities to advance and achieve work-life balance. Offering flexibility can be attractive for many employees who wish to better manage their careers with the personal time and relationships. Their flexibility to work from home or work only certain days of the week can help employees integrate their jobs within the entire scope of their lives.
Mobility also plays a role in employee retention, since many people appreciate having the option to move across different departments or change their jobs all together. Opening employees up to new opportunities within their organization allows them to expand their horizons and stay engaged and motivated in their workplace for years to come.
As you can see, there’s a lot that goes into keeping your high performing employees happy and satisfied. The good news is that implementing the organizational leadership practices above can retain your best employees and attract top talent to your organization also adding value to your recruiting efforts. Each year, it’s best to reassess your retention strategy and make changes in reducing turnover to keep your workforce in top shape.