Retaining employees is not an easy process to execute, but it’s not even a complex one if you do the right way. Employee retention is a widely used term among employers. Even today, it is the topmost concern for organizations. And, when it comes to high potential employees (HIPOs), it becomes even-more scary to even think of them leaving your organization.
No matter if you have a big organization or a start-up and running any kind of business, the fear pertaining to employee retention always revolves around/in your mind.
You are imagining your organization’s future while sitting on the chair that is full of responsibilities and an employee comes and gives you the resignation letter.
How does it feel like?
It probably feels like a slap on the face. Right?
To handle the situation wisely, you may also give a counteroffer to your employee. But, we know, it doesn’t work always. In most of the cases, you have to accept the resignation.
After all, it’s your employees’ will. You can’t force them to stay in your organization.
Now, if you have got your awakening at the moment of being bewildered, you have become even wiser. You won’t only accept that resignation but also look for the reasons for its occurrence and make changes accordingly.
And to demonstrate your smartness, you will also follow some tips to not let this happen again. Won’t you?
Here, you will know 6 effective employee retention tips:
6 Effective Employee Retention Tips
1. Show Generosity (While Paying)
Making money is happiness; making other people happy is a super-happiness.— Muhummad Yunus, father of microfinance
If you are not paying your employees enough for the work done, then it’s time to contemplate it. It is not a sign of intelligence if you think that your employees are working for less money today and they will do it forever.
Sometimes, organizations underpay and don’t even realize that employees are not satisfied with the pay-check until they get hired by one of their competitors. So, before you lose your valuable employee, it is time to be proactive.
2. Make them Feel Valued
The greatest asset of a company is its people.— Co-founder, Banco Garantia
If you don’t make your employees feel important, then how can you even raise a complaint about them leaving your organization?
It is vital to ask for opinions and suggestions from your employees in order to make them feel important and engaged. They feel respected and encouraged to stay with your organization. Productivity is another added advantage if their ideas are being listened to and valued of course. Believe the fact that your employees have great ideas. Just learn to ask for it.
3. Be Empathetic
Treat and pay your staff exactly the way you’d want to be treated if you were in their place.— John Paul DeJoria, John Paul Mitchell Systems, Patron Tequila
Step into the shoes of your employees and see the situation from their perspective. Your conscience will tell you when to be empathetic and when not to be. Having an understanding employer makes employees become dedicated to their work.
Therefore, it is also quite intrinsic to make your organization’s managers/leaders aware of the role of other employees and be cooperative to them.
4. Praise Employees Frequently
The leader is the person who brings a little magic to the moment.— President & CEO, Campbell Soup
It is always good to make your employees know that they are doing a great job. Appreciate them whenever you get a chance to do so. Many organizations do rely on the misapprehension that appreciation will lead employees asking for the salary hike. Well, that’s not the case if you do it the right way.
Praising your employees will motivate them to maintain or improve their work quality. And, their enhanced passion will bring ultra- benefits to your organization.
5. Provide Clarity on Career Growth
Before you become a leader, success is all about growing yourself. After you become a leader, success is about growing others.— Jack Welch, CEO of General Electric
Lack of clear roles, goals, and career pathways will never encourage your employees to be loyal to you when it comes to staying with your organization. Everyone wants to taste opportunities to grow and see what your organization brings in the future for them.
Programs that help you to retain them:
- Coaching and mentoring
- Leadership development programs
- Counseling services on career development
6. Comfortable Environment
If you do the right thing, the right thing will come to you.— Berry Gordy, founder, Motown Records
Comfortable Environment comprises 2 factors, i.e. Physical environment and Psychological environment. Your organization should be equipped with not only necessary amenities but also come up with what your competitors are already offering.
You may also like: 10 Reasons Why It Is Important to Create a Happy Workplace
Besides this, communication gateway should be smooth to let the employees come up with their opinions/suggestions and complaints. And, relevant actions on their grievances should be taken effectively.
It will help you get the following benefits:
- Better performance
- Satisfied employees
- Increased Productivity
- Like-able ambiance
- Reduced turnover-rate
Thus, we can conclude that employee retention is neither a complicated process nor a piece of cake. It needs to be done correctly and proficiently.
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