Your most important assets in the business world are not your customers, your market strategies or even your social media followers. They are your employees. Indeed, your team is the core of your business success, from productive performance to customer-focus behavior. It doesn’t matter how clever your business strategy is: If you can’t keep your talent in-house, you can’t succeed for a long time. But ultimately at a time where Millennials, the largest generation in the workplace are described as job-hoppers, it can be difficult to imagine how best to retain your staff. Here are four smart employee-centered strategies that reduce staff turnover to help you build a strong and loyal team.
Enable internal mobility
As your company grows, you naturally need to bring in new talent into your team. However, it can be challenging to keep a strong team when you’ve brought in a new manager. After all, it’s a challenging situation, especially as the subordinate element, the team, is industry-savvy and has a long experience of your products. Understandably, people might feel unvalued if an external professional is trusted with all business decisions. That’s precisely why a lot of companies use Rolepoint to facilitate internal progression. When there’s a chance of promotion, your employees are more likely to stick around.
Create a team spirit
More often than not, people leave companies when they don’t feel involved in the decisions or the everyday processes. Ultimately without a sense of belonging to a team, there’s no reason why people would want to work for a company more than another. Consequently, it’s the responsibility of the manager to make employees feel part of the business. Simple things such as asking for their feedback and including employees in brainstorming sessions can make a great deal of difference. Additionally, creating cross-team projects, where their skills can be assigned to a different team can help people to see the big picture and work together toward a common goal.
Give them amazing perks
Some employees might find satisfaction in building a professional career. But there come a time when you need to be realistic. People don’t work because they enjoy it but because they have to. So there are more likely to want to stay with companies that give them the most exciting perks. As surprising as it might sound, these perks don’t always relate to their end of month pay. For Netflix, it’s one year of paid parental leave, for both mothers and parents. Other companies offer Friday off every week, for example.
What perks come with the job?
Help them maintain a healthy work/life balance
The workplace can be a stressful environment. As a result, employees value businesses that encourage a healthy work/life balance. Options are varied, from introducing gym facilities at work to relieve stress to building a family-friendly environment with on-site childcare services. Although, for a lot of employees, remote and flexible work options remain a favorite as they allow people to work when they are the most productive throughout the day.
In conclusion, the secret to a talented team is not to only to recruit the best candidates, but also to be able to keep them through attractive perks, making them feel valued, and helping them to move their career forward.