Employees are the lifeblood of any business. If they keep leaving, the business has to keep recruiting and training new ones. This creates a lack of consistency and experience. It is for these reasons that companies strive to increase employee retention. This requires good developmental strategies. Retention strategies depend on the type of employees you want to keep. Retaining employees has been one of the main challenges in Nevada as a whole and for Reno in particular.
Employee Retention and Leadership
It is your job as an entrepreneur or CEO to keep workers in the company. Workers are leaders in their departments. You need to maintain their style of leadership for consistency. Having strong leadership is the main concern of Fortune 500 companies. A survey by Deloitte established this. Strong leaders in a firm ensure they engage their entire staff. Engagement of all employees in turn leads to higher output and profits.
Ways to Increase Employee Retention
Model the Culture You Want
Employees follow the model set for them by the top leadership of the company. If the CEO and the team at the top are habitual complainers, employees will follow suit. Employees who prefer working in a different environment leave the company. The culture you model should make it easy for employees to be productive.
Offer Opportunities for Improvement
There is nothing that is as draining as stagnation. Employees want to feel that you are investing in their skills and opportunities. Offer training and greater responsibility to those who prove themselves worthy. This is motivation for those who get the opportunity and to those who would like to get the opportunity in the future, and will work hard to prove they are worthy of it.
The working environment today is more fluid than it ever has been in the past. It is often necessary for an employee to answer an email or answer a call past the normal working hours. In the same way, it is good for you to allow your employees flexible reporting hours. You can even allow them to work from home where possible. This helps to increase employee retention especially among millennials. Flexibility also makes your employees more productive.
Listen to Employees’ Ideas
This employee retention strategy plays a role in increasing the company’s profit. Workers in all areas know what they can do to improve operations in their stations. Insisting that they keep the old ways when they can see better ways of doing things is insulting. Listening to their ideas and implementing them is empowering. It helps them develop a sense of ownership in the business.
Reward Employees Who Perform Well
Everyone likes recognition for their efforts. It is advisable to reward the best employee. The award plaque that comes with that trophy is a great way of telling the winner that the company values them. It also shows that you appreciate their efforts. Those employees who have not been rewarded yet also have something to strive for which keeps them in the company. An award of this nature should be attainable for all employees in a big company. It is necessary for you to reward employees in different divisions in the company. That way, employees in every division can strive for it within clear parameters. The trophy for each division should be custom made to show appreciation of each.
Be available to guide them
Every business has critical decisions that need to be made by top level management. When faced with such decisions, your employees will need to consult with you or a manager above them. In such situations it is important to give them your full attention and support. Lack of guidance leaves employees frustrated and demoralized. Help them complete their assignments by guiding them where necessary. This avoids frustration from failure to complete work.
Don’t be too Serious
Half of employees who leave their places of employment leave to get away from their managers. They feel the need to get away when the managers become too bossy. Besides being professional and businesslike, show your human side. Interact with your employees as people not as files and file numbers. This interaction builds a sense of family among staff.
Importance of employee retention cannot be over emphasized. You ought to do whatever you need to keep them. The suggestions above are applicable to millennials. They now form the bulk of the work force. Contact us to brainstorm on ideas for the awards and the attendant signage in Reno.