With 23% of UK employees planning to quit their jobs in 2020, it's crucial that employers ensure they are not letting their best talent walk out the door due to a poor employee retention strategy.
And a hole-proof strategy does more than reducing the rate of turnover and any loss of talent to the company. It can also help boost morale, productivity and engagement, and even attract new talent.
Do you encourage a suitable work-life balance? Have you established a culture that cultivates motivated and engaged employees? This is not something that can be an afterthought; it's important that culture is driven from the top leadership and is enforced by anyone in management. A simple drinks trolley is not going to do it - it's about a business' inherent values and what kind of workplace they have built for their employees. Showing your employees you genuinely care about them as people, and not just as another number, is what's going to keep your team around for the future.
Rewards and recognition
When we talk about R&R, it doesn't always mean monetary. Rewards come in all shapes and forms, and are an important way of recognising the hard work and exceptional performance of employees. Some great ways you can show your team they are valued include a monthly awards meeting, a nomination scheme where employees recognise great work from members of their team, or prizes for hitting targets.
Does your package look at more than just a salary? With xx of employees now stating a good salary is not enough of an incentive, it's crucial workplaces get this right in order to retain the best talent. From paid volunteering leave, to mental health days, or free healthy snack boxes in the office, there are a number of steps to take to ensure benefits meet the needs of employees. A good way to check if your benefits are providing value to your team is to run an anonymous survey and collect some genuine feedback.
Learning and development
This should be every businesses' priority. If your employees aren't growing, and you're not providing them with the necessary tools to help them learn, how are they going to continue bettering themselves? From online courses, to networking events or industry conferences, there are multiple ways your team can gain outside information that will benefit their daily role. And as employers, this will benefit you too - a great investment all round.
Be open and transparent
Communicate openly. Discuss how the business is going - what's working well and what the focus is for the future. Help your employees understand the bigger picture, and the role they play in the success of the business. Essentially, you want to make sure everyone is on the same page and are working towards a common goal. On top of this, it's crucial to ensure that any issues that arise are dealt with effectively and swiftly.
Does your culture need to focus a little more on health and wellbeing? Looking for some rewards that show you care? We can help with our healthy snacking solutions. Contact us today to chat with one of our experts.