In the past two years, millions have left their jobs due to issues like low pay, limited career growth, work-life imbalance, and overall dissatisfaction. The ongoing "great resignation" trend emphasises the need for employers to reassess what makes their organisation worth working for.
With the usual culprits being a competitive salaries, improved perks, work-life integration and, flexible work hours, consider the following:
1. A Culture That Employees Want To Be Part Of
Reward employees not just for success but for effort,
Create a meaningful mission for your organisation and,
Involve your employees in creative decision making about the present and future of your organisation.
Be intentional about Diversity, Equity, Inclusion and Belonging.
2. An Emphasis on Teamwork
Create chances for collaboration—including interdepartmental collaboration. Good teamwork will help managers and employees pair up strengths and weaknesses within departments and more strategically balance the workload.
3. Manage for Retention
Switch from a “boss” to a “coach”. A good employer/coach works to guide employees in the right direction by offering advice, support and goals while still allowing their employees to have a high degree of autonomy. Erradicate micromanagement.
4. Know When It’s Time To Say Goodbye
Unfortunately, no amount of strategy will guarantee perfect employee retention.
Know when it’s time to say goodbye and handle employee offboarding effectively. This is just as important for overall employee retention as any of these other strategies.
Remember, each organisation is unique, so it's important to tailor these strategies to fit your company's culture and needs. Reassess and adjust your retention strategies based on employee feedback and market trends.