So many employers had to adapt at speed to the changes caused by the COVID-19 pandemic. Many employees worked from home, but for others furlough was a time of reflection and what came to be called The Great Resignation ...
With such a large number of the workforce looking to change jobs next year, it's incredibly important for employers to prioritise retaining the staff they already have.
The so-called Great Regisnation has put a lot of pressure on employers and a good employee retention strategy means you don't end up paying huge amounts of money replacing your previous employees. It will also ensure your existing staff feel valued and happy to work for you.
So, what does an employee retention strategy entail?
- Employee Engagement
This is very important to ensure employees feel valued and respected. Building and developing relationships with your employees outside of work helps them to be more connected with your business and each other. Employee engagement is important for ensuring that employees feel valued.
Enable a good work/life balance for everyone
Overworked and burned-out employees will leave; of that, I am in no doubt. When employees go above and beyond, ensure you recognise that, but do make sure everyone's work/life balance works for them or productivity will decline dramatically.
Give regular feedback
Feedback is always important to both the retention and attraction of talent. Employees want to know they're doing a good job, and if they're making mistakes, they want to know how to correct what they're doing. And when giving feedback, ensure they know how valued they are to your business. Both in-person and online meetings of remote staff work just as well.
Offer learning and development opportunities
If you do not want to lose talented staff then learning and development are important. It's vital that you provide them with the resources and opportunities they need, to improve their knowledge and qualifications and ultimately help your business.
If you want to ensure your employees stay with you rather than move on to other businesses, then an employee retention strategy is important. Provide your talent with the resources they need to do their jobs and avoid losing those vital employees to your competitors.
If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.