While staff turnover happens throughout the year, employers may see a slight uptick during the summer months. Given the current challenges employers face in replacing workers, employees are in the driver’s seat. Now, more than ever, businesses must adapt and be responsive to current trends to retain their top talent.
What can your company do to improve staff retention this summer?
Review and Adjust Benefits & Wages
It costs more to replace a good employee than to pay a current employee competitive wages. Plus, staff turnover can negatively affect your team’s productivity and morale.
Take a good look at your current benefits, says Zsofia Jasik of TPD. “Make sure you stay ahead of the game and adjust your benefit offerings each time your renewal comes up. Reposition yourself to remain competitive.”
Allow Flexible Hours and Scheduling
Today’s workers are pushing back against the traditional 9-5 routine, with a strong focus on flexible hours and schedules, as well as hybrid work models.
Jasik says being open to non-conventional work schedules not only widens your candidate pool, “it helps you retain employees who are going through a change in their personal lives, such as new parents or those caring for elderly family members. Staff feels valued when management accommodates their individual needs,” she says.
Listen to Your Staff
Don’t wait until your employees are walking out the door to find out what they like about their work or the challenges they face. “Consistently conducting employee surveys and asking for feedback during one-on-one check-ins can help build a culture where employees feel heard,” says Jasik. “TPD can help create a well-rounded organizational scan to uncover areas for improvement.”
Provide the Right Tools & Training
Lack of job growth or career advancement is a strong incentive for a staff member to seek employment elsewhere. Demonstrate that you are committed to retaining a quality workforce by investing in on-the-job training, tuition assistance and upskilling and give workers the tools and resources they need to do their jobs well.
Encourage Social Connections
You’re a manager, not an activities director – we get it – but people are social beings, reminds Jasik. Employees who get along with each other are happier and more productive. Occasional social events at work help your team relax, get to know one another better and build connections.
Studies show that thanking an employee for their good work, as well as recognizing their milestones and achievements, is important to staff retention. Staff recognition doesn’t have to be complicated or expensive, but it pays off in workers who feel respected and are more engaged.
Build a Strong Company Culture
A company culture based on respect and gratitude is a huge incentive for an employee to remain and a great way to attract new talent. Today’s workers seek alignment with a company that shares their values and goals. To attract and keep a quality workforce, develop a corporate system that promotes employee performance and engagement.
Your employee retention program should be continually responsive to changing business trends. By understanding employee needs and creating an atmosphere of growth and respect, you can maintain a satisfied workforce that is committed to helping your corporation reach its goals.
If you’re still struggling to build your team, talk to our team at TPD today!
Filed under Top Talent, Management, Employer