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Are you struggling to retain your staff?
You’re not alone.
Thanks to the fluid nature of the current workforce, employees are now more confident than ever leaving a job. In fact, according to Business Insider Australia, one in seven Australian workers are currently seeking a new role.
Losing a team member – or worse, a whole team – can be costly. Think of the time and money spent advertising roles, interviewing, hiring and onboarding. Not to mention decreased productivity, re-training and the impact on office culture.
To avoid losing your top team members, you need to ensure you’ve got the best retention strategies in place. We’re here to help with a list of some of the major reasons why employees up and leave, plus some handy tactics you can use to help address them.
REASON 1: YOU HAVE BAD MANAGERS
According to the Australian HR Institute, an astronomical 75% of job leavers move on because of their boss, making it the number one reason why employees leave their job.
So how can managers get it right and keep team members from looking for the exit?
- Build trust - 83% of workers feel trust in their leaders significantly contributes to a more positive work experience. And trust goes two ways. Employees must have faith in you as a manager and you must place trust in them to perform the job they were hired to do.
- Communicate - We all like to know whether we’re on track with our work, and what’s happening within the wider business. Managers should keep open lines of communication by scheduling regular check-ins. This provides the forum for two-way communication, where feedback and information can be shared and questions can be asked.
- Ask for, accept and implement feedback – It’s important for employees to know that their managers are willing to take on feedback. But asking for it isn’t enough. It’s essential to communicate what you plan to do with the feedback provided and actually follow through on that plan.
- Show up for your team – How can you lead by example and build rapport if you’re never around? Make sure you’re present and available for your team as often as possible. They will appreciate the facetime and it will help open up those lines of communication.
- Practice extreme ownership - Great managers take the blame but pass the credit along. Don’t take the credit for something great your team has done, or worse, blame your team members for a mistake you’ve made. Adopt an extreme ownership attitude and concentrate on celebrating your team’s successes instead.
REASON 2: THEY FEEL THEIR WORK DOESN’T MATTER
74% of workers want to do something that makes a difference at work. They’re looking for a sense of purpose.
From contributing to company success, to giving back to society, here are some ideas to help make sure your employees know they’re making a difference:
- Show them the bigger picture - From data entry to general management, all job roles are important to the success of a company. Take the time to show your team members how they fit into the big picture of your business and why their role is essential for success.
- Partner up - Add an extra layer of meaning by connecting your brand with a charity or philanthropic program. Engage employees in organising regular fundraising events to ensure they’re personally involved in making a difference to your chosen charity.
- Provide volunteer days - Most companies give volunteer leave but very few employees actually use it. Encourage your team to make use of their volunteer days by organising full team volunteer outings. This also doubles as team building, another great retention strategy!
REASON 3: THERE IS NO ROOM TO GROW
42% of employees feel their job satisfaction centres around opportunities for growth, promotion, training and development. In other words, today’s employees want to develop professionally and if you invest in them, they’ll be invested to stay. There are many ways you can provide opportunities for your employees to learn and grow. Here’s a list to get you started:
- Assign stretch or long-term goals – Don’t just look at the short-term. Focusing on an employee’s future shows you want to invest in their growth and development and see them progress within your company.
- Provide professional development – Send your team on relevant training courses. There’s plenty out there, with on-site, off-site and online courses providing plenty of variety in terms of subject matter and price.
- Set up job shadowing – Does your employee have a specific career path in mind or skill they want to learn? Odds are, someone in your organisation already has that career or skill. Have them spend a day (or longer) together, where your employee can learn and ask questions.
- Assign mentors – Mentors are a great way to help employees grow personally and professionally. Mentors can often see areas for improving your employees can’t, are great soundboards, offer encouragement and can give advice based on experience.
- Be transparent about progression pathways – Including possible progression pathways in your Position Descriptions (PD) will prompt you to discuss these during the hiring process and at every performance review. This leaves no question in your employees’ mind about growth opportunities and what they need to do to achieve them.
REASON 4: THERE IS NO WORK-LIFE BALANCE
40% of Australian employees aren’t happy with their current work-life balance. Below are some ways you can address work-life balance in your team and increase retention:
- Promote flexible work hours – Allow work from home days or varying start and finish times where possible. If an employee has a reasonable personal errand to run during work hours, let them!
- Encourage going home on time – And try to lead by example! Implement a “go home early day” or ask your employees what you can do to help with their workload so they can go home on time.
- Help employees prioritise their health - There are plenty of options here depending on your budget. Try wellness programs, sponsoring work sports teams, providing an onsite gym and/or allowing time off to visit medical professionals. This means an employee no longer has to prioritise these things after work hours, giving them more time to spend on ‘life’.
REASON 5: THERE IS A SHORTAGE OF PERKS
Perks, recognition, benefits, pay… These things help show your employees how much you value them.
According to Seek, 17% of employees are looking to leave because they feel they have a greater earning potential elsewhere. But don’t fret, this is the easiest (and frankly the most fun) retention issue to resolve. Here are a few ways you can show your employees that you value them:
- Recognise achievements – Everyone likes a pat on the back for a job well done. You can recognise employees’ hard work in many ways. From one-on-one meetings to public forums such as team gatherings and company newsletters, to special perks and benefits. No matter which method you choose, be specific about why you’re celebrating and do it as frequently as it’s called for!
- Provide perks & benefits - While we can’t all reach Google office heights (we’re talking nap pods and indoor playgrounds), a few examples of perks and benefits you can offer on a smaller budget include:
- Flexible meeting places - small break out rooms, outdoor spaces,
- Employee lounge - a relaxed area with some home comforts. Bonus points for a well-stocked kitchen with healthy snacks and good coffee
- Extra services - childcare, healthcare, massages, lunchtime fitness activities etc
- ‘Surprise and delight’ perks - free team lunch, half a day off or gift cards…you know, just because!
- Pay fair - Do your due diligence when it comes to pay. Ensure all employees are being paid market rates and that they’re fair amongst employees doing similar work. Conduct a salary review every year to show employees you value them, and if a pay-rise is due, make sure you apply it!
REASON 6: INAPPROPRIATE BEHAVIOUR AND/OR HARASSMENT
It’s worrying to know inappropriate behaviour and/or harassment still occurs in today’s workplaces. One alarming study found 32% of women left their job after being subjected to inappropriate advances. There’s no excuse for this type of behaviour in the workforce. Here are some tips to deal with inappropriate workplace behaviour:
- Provide training - There are many training programs out there that focus on bullying and harassment. Providing this training on a regular basis and for every new employee will let your team know that this behaviour is not okay.
- Provide places to report it- This isn’t a comfortable topic for employees to broach. You should aim to provide as many avenues for reporting inappropriate behaviour as possible. Try assigning a representative that employees feel comfortable confiding in, making yourself approachable and/or providing a suggestion box where employees can anonymously raise concerns.
- Be vigilant - Keep your eyes peeled for inappropriate behaviour. If you suspect any of your employees are acting in a manner that you don’t condone, address it immediately.
REASON 7: MAJOR LIFE CHANGE
Some employees feel they need to leave a job because of a big change in their personal circumstances, be it a divorce, illness, the birth of a child or something else. In this case, you should:
- Be Flexible - Ensure you have flexible leave policies, personal time off or work-from-home options. This may be all you need to retain these amazing team members.
- Part on positive terms – You may not be able to retain this employee now, but parting on positive terms may lead them to re-join your company in the future if the circumstances are right.
A FINAL WORD…
As you can see, there are plenty of reasons why an employee may leave your company and there are steps you can take to address them. However, while you may wish to eliminate turnover completely, it’s healthy to have a degree employee churn within your team. When an employee does leave, it opens up space for great new people to join your company, bringing with them fresh ideas and ways of doing things.
If you really want to up your retention stakes, learn from your mistakes by conducting comprehensive employee exit interviews. The feedback you receive from them can reduce staff departure… as long as you action it!
Date published :13/09/2018
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