Studies suggest that nearly 50% of workers are planning to look for a new job in the next six months and closer to 70% are already passively looking. With such staggering numbers, it’s no wonder that employers are feeling the pressure to do whatever it takes to keep their best employees. Clearly, for employees to make a long-term commitment to a company, the employer must give them good reason to stay. Here are a few tips for managers to improve employee retention and get their best employees to stick around.
Give them Responsibility
It has been said that employees leave managers, not jobs. Perhaps one of the most frustrating things for an employee is working for a micromanager. A manager who feels the need to constantly be looking over the shoulders of their employees is demonstrating that they do not trust them to get the job done on their own. Instead, show your employees you trust them by giving them responsibilities that allow them to grow. Encourage them to learn new skills and provide them with the opportunities to do so. Furthermore, hire from within and provide opportunities for growth and promotions.
Show them Respect
Employees want to know they are respected and appreciated. Managers who make it a priority to show outward respect to their employees on a regular basis are much more likely to retain those employees. It can be as simple as asking employees about a family member who is ill or giving them praise for a job well done. When managers take the time to make their employees feel valued, they are cultivating a positive workplace culture and establishing a relationship built on trust and respect.
Pay them Well
While salary alone may not be enough to keep your best employees, it’s certainly a start. Employees who feel like they are fairly compensated for their work are less likely to look for jobs elsewhere. Make sure you are offering a salary and benefits package that is competitive with similar jobs in the area.
Provide Frequent Feedback
Communication is crucial when it comes to employee retention. Your employees want to know how they are doing. Don’t wait for the year-end review to give your employees feedback. Rather, meet with them on a regular basis to provide constructive criticism, advice, feedback, and praise.
Encourage Flexibility and Time-Off
Certainly this doesn’t mean that you need to give your employees a day off every week; however, giving them the opportunity to work from home one day a week or letting them leave a little early on Fridays will go a long way in keeping your employees happy. Oftentimes managers feel like the more hours their employees work the more productive they will be. In reality, however, this has the opposite effect. Employees who are overworked are more likely to feel frustrated and burned out while those who are encouraged to take a little time off every now and then are able to return more refreshed and rejuvenated.
Provide Opportunities for Professional Development
Keep your employees on track and challenge them to stay up-to-date with the latest trends in the industry. Make sure they are aware of the different certification, training, and educational options available to them. Encourage them to advance their careers and enhance their abilities by taking part in these various programs. Providing consistent access to professional development opportunities will create an environment where learning and education are valued.