With early 2018 unemployment figures recorded at a 42-year low, employers should consider whether they might lose talented staff, if they decide to jump ship for a different employer.
“There is the risk that the market, rather than your company, will determine whether you hold on to your employees. While there is not a cast-iron guarantee to retaining your talent, there are steps every employer should think about taking.”
The Importance of Onboarding
The process of staff retention must start at the earliest opportunity.
“Onboarding is crucial in setting the tone for new employees. This means communicating the company’s values, alongside all the practical and technical details they need to know.”
A comprehensive onboarding programme is, effectively, a form of staff development and training, ensuring they understand the company’s expectations of them, but also that the company recognises their needs and ambitions.
“The first six months can be critical in terms of employee turnover, therefore this is the time when onboarding must embed a sense of the business’s culture in the employee, and make them feel like they belong”
Onboarding programmes should combine socialisation of employees – integrating them thoroughly in the workplace – with professional support and guidance.
“You’re letting them know your investment in them, and their career, is starting right from day one. That’s an incredibly powerful message.”
Meaningful Training and Development
Giving employees the right level of training to be effective in their roles is one thing, but creating a culture of continuous improvement goes a step further.
“The promise of a career path, one that’s demonstrable through the training and development you offer, can help reduce the risk of losing staff once you’ve trained them to a certain level.”
“Ongoing training adds a layer of meaning to employees because it implies that an employer’s interest and investment in them is set to continue”
“You’re giving off clear signals that you don’t take their efforts for granted, and that you want to further help them develop their potential.”
Education and training are benefits with a lasting impact on employees.
Reward and Recognition
“A culture where saying thank you is clearly visible is a positive culture. Even just saying thanks can help instil a sense that the employer cares.”
Such regular, spontaneous acknowledgement, along with established schemes providing incentives and bonuses, helps create an emotional bond between employee and employer.
“It is vital that businesses fully engage with the people working for them,” Lisa concludes. “The more they engage in meaningful way, the less likely it is that they will lose the talented staff they’ve invested in to another employer.
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