Why do people leave their jobs? You may be surprised it is not always about the money. It has been proven that one of the major reasons is employee dissatisfaction with their supervisors or sometimes, the need for a new challenge.
Although, according to the old adage, nobody is irreplaceable, business owners and HR managers should try to avoid losing their best employees as replacing them is a costly and time-consuming affair.
One of the keys to reducing employee turnover is to try to understand what motivates each member of staff, provide the corporate support needed to keep them happy and stay in touch with what their needs are.
While all this will often require going through a learning curve, and there is usually no one-size-fits-all HR approach, there are some tips that hold true for any company wishing to learn how to improve staff retention rates.
Give them some power!
Are your employees company stakeholders? Do they feel they add value to the business and make a contribution to its success? In today’s increasingly outsourced economy, the enterprise environment is one where overt managerial control is less attractive than ever before.
Higher quality employe
es seek to work with their employers, rather than for them. Empowering your staff boosts their productivity while at the same time giving them an incentive to stay loyal to the company.
Learn about what makes them tick!
Motivation has a direct link to productivity and job satisfaction. People are motivated and demotivated by different factors – these could range from monetary things such as bonuses, promotion and rewards to non-tangible motivators, such as prestige, authority and feeling valued.
Don’t assume everyone is driven by money alone – learn about what motivates each employee!
Nip morale problems in the bud!
Monthly progress meetings with an employee will help you identify any problems – not just related to performance but also to motivation – early on. They will also help you detect any warning signs of a person’s dissatisfaction with their job situation. By being attuned to their individual needs, you will know how to keep them satisfied.
Choose the best fit for the company!
Sometimes, disappointingly, the best-qualified, top-performing candidate might not be the right fit for your company. There are many other factors that come into play when hiring for a position.
You have to consider things such as the effect the job is likely to have on the candidate’s work-life balance, and their personality profile. If this can’t be established at the interview stage, 90-day trial periods can help identify whether the person is the right fit for the job.
Push them out of their comfort zone!
Many employees leave a job only because it is too mundane. People like a challenge, an intellectual stimulation and learning new things so don’t be afraid to break the mould.
Give your employees room to be creative and the opportunity to develop news skills, even if they initially make mistakes, and you will see higher employee retention rates.
Photo courtesy of kewl.