How To Improve Employee Retention
How To Retain Employees
Why do employees resign?
Common sense would suggest that employees do not leave employment which makes them happy.
Even when employees are offered additional money elsewhere, it is often not the main factor in an employees decision to resign.
As organisations interested in improving employee retention rates, therefore, we need to understand the real reasons why employees resign.
Research tells us that dissatisfaction felt by employees in their employment is higher than we would imagine and higher than we would like to admit.
Dissatisfaction and the lack of opportunities for development are the main reasons to address when improving employee retention.
Why do employees leave within the first few months of employment?
There is a noticeable higher turnover of employees in the early stage of their employment than at any other time. Why is this?
Have you ever artificially raised the candidates’ expectation of the role?
How effective was your recruitment and selection process?
How helpful was your employee induction period? Does one exist?
Were you under pressure to recruit quickly?
How can I discover why employees leave?
Exit interviews are useful providing they are completed shortly after the employee resignation and they are conducted by an impartial or independent person.
This ensures a confidential environment for the former employee and more accurate and fuller feedback for the employer.
Remember, as in life, there can be a disparity between what people say and what they may wish to say. Former employees will be more comfortable sharing information with an independent third party than they will a fellow colleague.
How can I improve employee retention?
A recommended strategy would ask:
1. Why?
2. How much is it costing us?
The benefit of quantifying the cost of employee turnover is that this allows for a retention strategy to be priced and proposed.
Particularly in hard to recruit job markets, an investment in employee retention can provide a high return on investment.
Tools for improving employee retention include:
- Realistic expectations. Provide potential employees with a preview of their potential workplace by inviting them into your organisation and spending time familiarising them with the role.
- Accountability – putting responsibility and accountability with direct line management will improve employee retention. Assist line managers in improving retention by rewarding success and developing their skills on an ongoing basis.for staff turnover in their teams. Reward managers whose record at keeping people is good by including the subject in appraisals.
- Ensure development opportunities exist – take a strong interest in ensuring opportunities are present for employees to progress both upwards and sideways.
- Listen to employees – ensure employees have the facility to voice concerns, share grievances and be heard.
- Flexible working hours – employees who feel their work fits around their life are happier than employees who feel their workplace is inflexible and unhelpful.
- Fairness – a sense of injustice is one of the major reasons for employees choosing to leave.
- Ensure promotions, rewards and other changes are as fair as possible.
For further guidance go to HR Training Courses
Why do employees resign?
Common sense would suggest that employees do not leave employment which makes them happy.
Even when employees are offered additional money elsewhere, it is often not the main factor in an employees decision to resign.
As organisations interested in improving employee retention rates, therefore, we need to understand the real reasons why employees resign.
Research tells us that dissatisfaction felt by employees in their employment is higher than we would imagine and higher than we would like to admit.
Dissatisfaction and the lack of opportunities for development are the main reasons to address when improving employee retention.
Why do employees leave within the first few months of employment?
There is a noticeable higher turnover of employees in the early stage of their employment than at any other time. Why is this?
Have you ever artificially raised the candidates’ expectation of the role?
How effective was your recruitment and selection process?
How helpful was your employee induction period? Does one exist?
Were you under pressure to recruit quickly?
How can I discover why employees leave?
Exit interviews are useful providing they are completed shortly after the employee resignation and they are conducted by an impartial or independent person.
This ensures a confidential environment for the former employee and more accurate and fuller feedback for the employer.
Remember, as in life, there can be a disparity between what people say and what they may wish to say. Former employees will be more comfortable sharing information with an independent third party than they will a fellow colleague.
How can I improve employee retention?
A recommended strategy would ask:
1. Why?
2. How much is it costing us?
The benefit of quantifying the cost of employee turnover is that this allows for a retention strategy to be priced and proposed.
Particularly in hard to recruit job markets, an investment in employee retention can provide a high return on investment.
Tools for improving employee retention include:
- Realistic expectations. Provide potential employees with a preview of their potential workplace by inviting them into your organisation and spending time familiarising them with the role.
- Accountability – putting responsibility and accountability with direct line management will improve employee retention. Assist line managers in improving retention by rewarding success and developing their skills on an ongoing basis.for staff turnover in their teams. Reward managers whose record at keeping people is good by including the subject in appraisals.
- Ensure development opportunities exist – take a strong interest in ensuring opportunities are present for employees to progress both upwards and sideways.
- Listen to employees – ensure employees have the facility to voice concerns, share grievances and be heard.
- Flexible working hours – employees who feel their work fits around their life are happier than employees who feel their workplace is inflexible and unhelpful.
- Fairness – a sense of injustice is one of the major reasons for employees choosing to leave.
- Ensure promotions, rewards and other changes are as fair as possible.
For further guidance go to HR Training Courses
Labels: Employee Retention, HR training courses, Retaining Employees
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