3 strategies for maximum employee retention
3 strategies for maximum employee retention
What if your employee decides to leave the organization just a few weeks after his/her joining date, or at a crucial time?
The consequences will cost your company a lot of money, hard work, time, and energy. A good employee possesses the ability to contribute trust, integrity, and passion to fulfill the organization's goals while bringing out the best of his creativity to the table.
How long the employees stay at an organization tells a lot about the management and the workplace environment it provides. Retaining an employee for a considerable amount of time is considered an achievement, as it should be.
If under pressure, working around deadlines, giving their best to the company, an employee decides to stick to an organization, then there must be reasons behind it. Sometimes,
it is as simple as recognizing the efforts of your employees or awarding them on achievements or contributions made to the company. Finding a potential employee in this cutthroat era is no less than a rigorous mental and physical exercise.
If you find one, make sure to hold on and follow these strategies to maximize your employee retention.
1. Job satisfaction
Getting your employees to complete difficult projects or to take on too many at a time could make them feel doubtful about their prospects in the company. When an employee feels that there is a mismatch between themselves and the job they are given, they tend to look for greener pastures.
Several studies have shown that leadership style can also affect organizational commitment and work satisfaction. Sometimes it pays when you push people out of their comfort zone and offer them a chance to take a risk. Employees feel motivated and pumped when you recognize their efforts and appreciate them for it. Rewarding your employees for their impeccable contributions leads to efficiency and productivity in workflows. Help them learn from the mistakes made by processing failure and its reasons together.
2. Healthy communication & positive feedback
Technology has made great leaps today, with which it has also made communication seamless and easy. Despite that, if there is a lack of any kind of real and healthy communication, it brings out the confusion and the work in the pipeline is stuck. Besides, this remains a challenge at work and leads to stress and unwanted tension.
Employees need regular feedback to improve and to do their best work- both positive and constructive advice. It is essential that the feedback provided is not sensitive to hurt one’s personal sentiments, or invade their boundaries.
Employees with high performance must be singled out and praised to motivate them and other employees further.
Do remember that corrective feedback is equally important even if there is an urgent issue at hand that needs to be addressed.
Inculcate that culture where you thank your employees directly whenever they reach milestones, or go the extra mile to make things work and succeed. Sometimes, it can be done with a sincere and grateful email, a day off, or a gift card. If required, think out of the box with innovative ideas to surprise your employees while applauding them.
3. Work-life balance
Do not expect your employees to function like robots or work 24x7 without a break. When an employee’s work and life balance is out of whack, there is pain and constant fatigue, which leads to minimal efficiency and absenteeism from work. If your employee feels like he/she spends most of her life working instead of living, the job no longer seems interesting and fun to them. It is quite simple if you look at it. Everyone comes to the office to do their job, and wants to go home feeling fulfilled and happy as the day ends.
But what if your employees leave the office thinking and knowing that they’d be taking their work home too? Not only would it affect their peace of mind, but also harm their personal and professional relationships as well. Let’s have a look at the aviation industry, and the struggle airlines are having with a shortage of pilots. Airline pilots work for long-shift hours non stop because of the fact that there simply aren’t enough pilots to fill the airplanes. Additionally, an emerging retirement wave of seasoned pilots contributes to make the problem worse.
In such an environment, people crave for a balanced work life where they can do their job for reasonable hours and go home to relax for the day.
A young businessman who has been in the line of entrepreneurship for quite a few years. He is an active learner and loves to know more about new technological developments coming up as well as how they can be put to great use to yield better results for society