According to a survey, 69% of employees are looking for other jobs actively. Furthermore, within six months of joining an organization, at least 40% of employees already start looking for other jobs. Considering the statistics, it’s safe to assume that a large number of employees either aren’t happy with their jobs or are looking for other jobs for other purposes.
As managers, employee retention is a great concern. Organizations should develop policies that help retain talented and qualified employees. Especially when employees join a company, the impression the organization makes on an employee is important.
Here are a few ways to help retain your quality employees:
Give Them Responsibility
Employees need to feel trusted. You can show them you trust them by handing them responsibilities. Once you feel like an employee is performing well, assign them more important tasks. When a vacancy arises, evaluate and promote employees from within the organization. Offer them promotions.
Respect your Employees
Everyone deserves to feel appreciated and respected, including your employees. This is applicable not only for when they join your organization but also throughout the time they work there. Avoid screaming or shouting at your employees. Bosses don’t necessarily have to be ‘bossy.’ If an employee commits a mistake, calmly point it out and have them go over it. The less respected employees feel, the sooner they’ll face burnout and leave the company.
Reward and Recognize
Rewards include monetary and non-monetary rewards. There is no debate between the two as they’re both equally important in sustaining employee motivation. If an employee does a good job, offer them recognition in front of other employees. This will prove to be a good morale builder for others as well. For a job well done, you can reward them with awards, certificates or gift cards. When employees feel underappreciated and unrewarded, their willingness to quit their job increases.
Provide Mentoring Opportunities
When employees join an organization, they require time to settle down. They desperately search for guidance— some may even be too shy to ask for assistance. Assigning mentors will help them settle down easily and they’ll be presented with the opportunity to learn new skills and expertise. This will help them build a trusting and confident relationship with the mentor, which will motivate them to stay with an organization. Often times, people leave because they feel uncomfortable and have a hard time settling down. This will help eliminate that.
Be sure to remember that the success of your organization depends on how effectively you manage to retain quality and talented team members. There are sources such as P2M Australia that offer organizations support in this regard. It may be easy to take people for granted, but your company may suffer in the long run.
Recruiting is a tedious, expensive and time-consuming process. Finding quality employees is like looking for a needle in a haystack. Make sure to create a suitable environment for your employees where they feel like they can grow and thrive.