Employee Retention is one of those mythical subjects that is brought up when business owners get together. It is talked about alongside terms like employee culture and building opportunities, but when it comes down to the bottom line, what does that all mean?
One of the main reason employee retention is so important, centres around keeping key players loyal and engaged in your business’ future. As most entrepreneurs know, it can be an incredibly important aspect of growing your business and keeping it competitive. With three simple strategies, any business can help keep their key employees motivated and loyal, coming to work with a spring in their step.
Motivate from the Inside
One of the best ways to keep employees is to build a company vision and mission that aligns with their personal values. It is important to start a dialogue around what you are doing and why you are doing it. This forms the purpose of your business and gives all the employees something to base their job loyalty around.
Another way to build a great business culture is to hire people that align with the company’s direction. The wrong employee in a critical role can significantly alter the direction of a company. One of the best ways to hire the right person is to use a company specialising in labour hire or recruitment. With relevant industry knowledge, their expert consultants can weed through the initial candidates to find the right employee.
Trust Your Employees
Something many innovative and fast growing businesses have in common, is the level of employee self-motivation. This typically involves allowing employees to use self-direction, increased autonomy and take ownership over their own projects. By stepping back from projects and giving employees a required outcome, it forces the employees to own their results. Ultimately this gives employees a sense of pride in their work, while the employers can keep track by regular reports at certain milestones.
From Good Company Habits
Nothing kills a company’s culture quicker than toxic habits. However, even if you are running a business without any harmful habits, it can be just as hard to form good habits that bring your business a benefit. One of the ways companies build a great company culture is through feedback and recognition, however, this can also be hard to regularly remember. To keep this consistent, as a manager or owner try setting reminders for yourself to give a physical prompt or build a peer to peer recognition scheme. Sometimes, the community and workplace ties that are built between employees through positive peer-to-peer recognition and feedback, can be the sticking point for employees’ loyalty.
A company is more than just these three areas, but a successful business culture starts by embracing these strategies. It is only by developing the right business culture, direction and workplace environment, that you can hope to keep your key employees, even though stressful, tough times.
So are you building the right company and keeping your most important employees? Maybe you simply need help hiring the right workers to match your company’s direction. Contact us at First Personnel to discover how we can help you build the right resource pool.