New Year, new you? Or new workforce?
At a time when many people decide it is time for a change, what can you do to ensure your members of staff do not want to move on?
Why might people want to leave their current role? Maybe a New Year’s resolution, perhaps they think the grass is greener or they just feel it is time for a new challenge.
What influences staff to stay put after the fireworks are over? It may be an exciting time to be part of the Company, there may be the offer of fresh challenges or development opportunities or it may be as simple as the fact that they like the people they work with.
It is a common misconception that financial reward is the best way to maintain high retention rates. According to a survey that reached more than 17,000 employees across the UK; pay was 4th on the list and other benefits were 7th.
The top 3 were:
- Working with great people
- Career growth and fresh challenges
- Having a supportive management team
Recruitment agencies know this is a great time to get new candidates on their books, but as an employer, you might be able to stay one step ahead. Hold regular 1-2-1 meetings, know how your employees are feeling and encourage open dialogue and two way feedback within your teams. Awareness is key; having high emotional intelligence is a bonus.
So, how are you going to positively jumpstart into the New Year?
Holding a team meeting is a great way to allow your staff to feel part of an organisation, providing them with an update on the Company strategy and upcoming objectives and customer feedback. Being given the opportunity to work towards a goal as a team or individually creates a sense of belonging and excitement. Providing staff with feedback regarding how the Company performed the previous year and recognising their efforts can also go a long way, after all, your business is nothing without your employees!