Retention in the workplace starts with Communication
Businesses spend thousands of dollars recruiting and training new talent, only to find that new hires resign 6 or 12 months after the start date. Turn-over has a negative impact of the business. It erodes employee morale, lowers employee productivity and costs big dollars impacting the overall health of the business.
There are simple and common-sense solutions that will reduce turn-over and improve retention.
Communication: a 2018 Gallup Poll shows employees rate lack of communication as a number one concern in the workplace. Employees want to hear from their manager and leadership. They are eager for information about the company and department they work in. Keep employees engaged by scheduling daily or weekly meetings.
Fair Treatment: several studies show that employees stay in a job if they feel they're being treated fairly by their direct manager and leadership.
Feedback: majority of employees want to do well in their jobs. Managers that provide consistent feedback typically have higher performing teams and less turn-over than those who don't. Schedule informal monthly one-on-one meetings, set aside 1-2 hours each day for employees to schedule time for questions, updates and problem solving.
Thank you: it's so simple and doesn't cost anything. And yet we don't do it enough. Saying thank you acknowledges an employee's good work and their contributions.
Onboarding: the first 6 to 12 months is critical to employee engagement. It starts with a smooth onboarding transition into the workplace. New hire orientation welcomes the employee to the company, defines the culture, benefits, and expectations. A 2-8 week department training provides specific details for job success, introduction to the team, and shadowing a team buddy. Consistent support, communication and training is critical for a successful onboarding process.
Compensation: studies show that companies that pay in the mid to top range of the pay grade will retain their employees longer. A sound compensation program ensures internal pay equity and consistency. Employees want to be paid at the market range for their skill level aligned with years of experience.
Employee engagement activities: engagement activities emphasize a team approach, its an opportunity to thank the team for their continued dedication and takes time away from work for a little fun and socializing. A few suggestions include annual employee service awards rewarding employee longevity, Friday pizza lunch to gather the team (employees love food!), quarterly townhall meetings is an opportunity to communicate company updates.
