5 Tips for Improving Employee
Retention in the Workplace
by Virginia Johnson, Marketing & Creative Coordinator, SRG
An organization’s success stems from its people. Without its people, the organization wouldn’t exist. That is why employee retention is so important. As jobless rates decline it is crucial for companies to retain their top performers, as they are their greatest assets. Last month the US unemployment rate dropped to 4.4%, the lowest jobless rate in 10 years. Add to this the retirement of baby-boomers, and suddenly new employment opportunities are everywhere. Employee retention can no longer be a number on an annual report; it is a necessity for organizational survival.
Here are five tips on how to improve employee retention in your workplace:
- THE RIGHT PEOPLE ON THE BUS, IN THE RIGHT SEATS
Some of us may have heard the phrase, but what does it actually mean? Employee retention starts right at the get go, hiring the right people for the right positions in your organization. In his book, Good to Great, Jim Collins outlines the importance of matching the employee to the organization; a perfect match creates employee satisfaction and motivation to succeed.
- CLEAR EXPECTATIONS
Whether it is a thorough job description, goal setting, or a comprehensive performance management program, employees need to know what is expected of them. Ken Blanchard said it best, “Once your people are clear on their goals (they have the final exam questions); it’s your job to do everything you can to help them accomplish those goals (learn the answers) so that when it comes to their performance evaluation (the final examination), they get high ratings (A’s).”
In a world that has so many different ways to communicate, it is surprising how easily it can be taken for granted. No one wants to be left in the dark. Lack of knowledge creates fear, hostility, and decreased motivation. Employees need to feel secure and understand changes that impact their positions. On the flip side of that, employees need an outlet to communicate their questions and concerns. Procedures on how and where to direct these concerns should be set in place and include a neutral platform to encourage employees to communicate their thoughts without repercussion.
- TRAINING AND DEVELOPMENT
An eventual event that occurs with longstanding employees is that they become stagnant. They reach their peak performance and no longer have goals to strive for. When this occurs, an organization’s best solution is to train the employee in new tasks or give opportunity for growth into new roles or different facets of their current position. New goals, knowledge, and skills feed directly into increased motivation.
Who knew how much the two little words “good job” could impact employee retention? We can go on and on about compensation and benefits, but ultimately an employee just wants to be acknowledged for a job well done. They want their organization to recognize their contributions and how they have helped the company achieve its goals.
Employee retention is of the utmost importance in today’s job market. Be sure to consider these tips and even an retention program in your workplace to help retain your best assets – your people.
A key stage in SRG’s Workforce Maximizer system is The Performance Xcelerator™ which allows SRG to harness key performance indicators in order to maintain optimal productivity. Utilizing workforce cycle employment methods, our trained team of Account Managers actively coach and counsel our Team Members to mitigate turnover and increase employee retention.