5 hacks to increase employee retention - Preparing you for the future of work.

5 hacks to increase employee retention

It’s easier to keep good employees than have to find new ones.

Good employees are hard to find. There are so many people applying for the same job, you can’t always be sure you’ve made the right decision. Many business owners and CEOs of companies struggle with putting together a team of dedicated, enthusiastic and eager employees. In addition, once you find an employee who qualifies for the job and works hard every day, you face yet another problem: how to retain that employee and make him an integral part of your team and how to keep him from leaving you for a better offer.

Employee retention is a strategic way of thinking and communicating with your employees. We could even say it’s a philosophy. That means you don’t just choose a day to be employee-friendly. You build a healthy relationship from the beginning. These tips will help you master the skill of retaining your employees.

Here are five hacks (Source: Pixabay) which will help you retain your best employees if you adopt them and apply them consistently.

1. Straight-forward relationship

The number one thing you need to be aware of is that your employees expect a professional relationship with you. That implies honesty and a clear-cut agreement from day one. What does that mean, more precisely?

That means your employee knows exactly what he’s in for, from the first time you meet. There can be no surprises or hidden information. You need to present things the way they are.

It means you need to:
• define their assignments precisely;
• define your expectations;
• present the position in as detailed a manner as possible; and
• stay true to your initial agreement.

If you try to present the state of affairs differently or in a polished manner, you’ll end up with a disappointed and potentially angry employee. This will definitely make your employee think about finding something better. However, if you give them all the details about what to expect from you or the company, they’re going to respect you and trust you. Transparency is therefore your first hack for increasing employee retention.

2. Growth and development

Think about creating a great workplace for your employees. What makes the difference between a good job and a great job? It’s a fine line, but you can find it if you try.

One of the things which stands out as the answer is definitely the opportunity for professional development.

No one wants to be stuck in one place for their entire career. People need opportunities to become better at their jobs and conquer the highest peaks.

What are you expected to do? You need to provide:
• Mentoring;
• professional skills training;
• seminars;
• a learning environment;
• demanding tasks; and
• awarding assignments.

The HR Specialist of PickWriters says: “The best kind of a work environment is the one that lets you learn and acquire new skills all the time. Your employees need the challenge to keep them in the best shape.”

3. Recognition

A good employee expects feedback from his superiors. You need to provide both positive and negative feedback. Choosing to give only one will lead you nowhere.

- Negative feedback needs to serve a purpose. You need to handle it subtly but make it effective. Make sure to:
• deliver it in a private environment;
• make it a constructive critique;
• encourage your employee to try again; and
• emphasise the importance of learning a lesson.

- Positive feedback will help build a satisfied and motivated employee. No matter how selfassured or experienced they are, people like hearing they did a good job. Don’t imply it – say it. It’s always good to:

1. recognise your employee’s effort;
2. acknowledge their success each and every time;
3. reward them for a job well-done; and
4. ensure they know you appreciate the hard work.

In order to retain all your employees and make sure they want to stay with you, provide regular feedback and let them know their effort pays off.

4. Leadership

When it comes to employee retention, a lot depends on the relationship with the superior. This means you need to have an open, cooperative and unambiguous relationship with your employees.

In order to build such a relationship, you need to start with yourself. You need to know the difference between being a leader and being a dominator.

A leader:
• talks to his employees with respect;
• listens to their ideas, suggestions, and objections;
• creates a healthy working environment; and
• provides a pleasant atmosphere.

A dominator:
• puts himself first;
• gives orders without consulting the employees;
• expects the maximum; and
• gives the minimum.

Build a healthy relationship with your employees, and they won’t be thinking about leaving you any time soon.

5. Money

We have to keep things real: money plays a significant role in this entire story. At the end of the day, you need to put a number on your employee and, in a way, estimate how much they mean to you.

However, we’re not only talking about the salary. Of course, the salary matters the most. You should leave room for raises and there has to be a tendency for salary growth for each position.

There’s more to cover. You also need to think about:
• Bonuses;
• paid time off;
• insurance; and
• healthcare.

The best employees deserve to be taken care of entirely. Your task is to make them feel appreciated, safe and valuable.

Conclusion

If you’re afraid your best employees might leave you, you’re actually afraid that you’re not doing a good enough job at keeping them. Talk to your employees, listen to what they have to say about the terms, conditions, rules, company policy and all the other factors shaping their work experience. Together, come up with a solution. You need to go to great lengths to keep your employees content and fulfilled.

The hacks we’ve given you are a must if you want to retain your employees. They are the building blocks of a good employee-employer relationship.

Once you manage to combine all five of these, your employees won’t even be thinking about other job opportunities.

Kristin Savage is a freelance writer based in Louisiana, in the United States. Along with pursuing her degree in Creative Writing, Kristin has gained experience in marketing strategy for publishers and authors. You can find her on Facebook and Medium.

This article appeared in the November 2018 issue of HR Future magazine.

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