Employee retention and employee retention strategies, are a weekly news item right now. So, how do HR professionals implement an employee retention program that works, in such a turbulent jobs market.
Of course, employee retention is highly complex. With a vast range of influences, from the appropriate leadership, work flexibility, career progression, training and development, remuneration, feedback opportunities, up to getting the right people in the right seats to start with! So many factors can influence a company’s success rate in this area.
However, there are a few key employee retention strategies that firms can look at, to help turn the tide on turnover and create stability. Here’s 5 of those areas, that with some careful consideration, can make a world of difference to your employee’s experience and engagement…
Number one is of course onboarding. No one forgets a first impression, whether it’s walking into a restaurant, shop, or home. The same goes for a welcome at a new job. There’s even evidence that a first impression enters the subconscious and effects decision making down the line, such as debating to move on from a job. Therefore, this short window of time can have real significance on the long-term prospects of a new hire.
Getting it right will look different for every business, so your onboarding process should be developed bespoke to your requirements, goals and brand. An onboarding pack is a great place to start. Providing useful, thoughtful and on brand items. It will help you create a welcome that says, you’re a part of something greater than signing a contract and gets your employees set off with any practical items they need for the job.
The big culture question! Lots of elements influence a great company culture, so where do you start? Connecting teams is key – whether that’s remote or in the office building. People need a team connection to feel a shared sense of purpose and ownership towards a company and its goals. A tricky task with many WFH employees or field-based workers.
Getting people communicating with team building events and celebrating company success or milestones can be a great way to open communication and raise those team spirit levels! Being delivered something of real meaning, brings that personal sense of belonging to employees from the company.
3. Incentives and Rewards
Incentives come in all forms, but they do work in aiding retention. Depending on your working environment and business goals, incentives can be brought in to aid positive performance. Creating a cycle of positive engagement, rather than believing that any extra effort put in, will be in vain.
Instead of setting goals year after year, with no real return above the normal level for employees. Create a reward scheme that means something. Identifying rewards that will resonate with employees is key, but you could even let them choose from a range. These types of strategies can also help to build team motivation and collaboration, bringing a stronger sense of community purpose.
Employees want to see care when it comes to their wellbeing, but they also want to see action. Re-sharing the same information over the company intranet does its duty but doesn’t show real care or investment in enhancing worker wellbeing. With younger generations expectations, far higher in this area than before, it is an attraction and retention topic worth investing in.
Sending out wellness care packages and wellbeing support packs, show a tangible outstretched hand from the company. Direct mail wellness campaigns have a far higher effectiveness than digital methods and are a fantastic way to reach those ‘unreachable’ employees. Wellness campaigns can also help to bring people together, uniting teams and aiding your culture goals.
Recognition is another highly cited reason for moving on from a role. Unrecognised employees feel disconnected and undervalued, hence feeling no reason to stay loyal. Recognition is different from incentives; recognition should be authentic and filter from the top down.
Recognition should be timely and thoughtful. The kind of recognition you get when you least expect it is of course the most effective. However, recognition is a tool that should be utilised right throughout the year. It doesn’t need to be overly elaborate, as with all thank yous it’s the meaning behind it that counts.
Hopefully these 5 employee retention strategies will give you a head start in curbing the great resignation curve. However, as with all employee and culture challenges, people are inherently complex!
Yet, giving yourself the best chance with some of these 5 strategies. At creating an engaged, happy, and connected workforce, will help to aid in overcoming retention challenges.
If you would like to learn more on how you can integrate these campaigns into your HR objectives, just ask our experts. We’ll take care of all the complex parts for you, from products and print to global delivery. Just ask here.
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