Much has been written about how to hire and manage your most important asset: your people. Your business will benefit with better retention of valued employees, resulting in a better bottom line.
Retention, for many of our clients, is especially important when managing millennials. In fact, your entire workforce may have adopted many of the millennial expectations and behaviors.
Here are our insights into what managers should do to see better retention.
Recruitment and Onboarding
This is where you can lose many of the best candidates. A poor experience during the job-seeking process can tell a prospective employee a lot about what to expect once hired. A considerable 68% of employees believe that their job-seeking experience reflects how well, or how badly, a company treats its employees.
That amounts to culture. Companies that invest in recruitment and training, but do not pay attention to culture, risk dropping fine employees in toxic environments – decreasing retention rates and increasing costs.
Communication and Support
One of the main causes of employee loss is the poor relationship between managers and employees – and it starts on, or before, day one:
“37 percent of employees didn’t think their manager played a critical role in supporting their onboarding experience.”
(Career Builder, 2018)
As a business owner or manager, you cannot afford to have a work environment that discourages self-expression, creativity, or collaboration. Successful companies set themselves apart as places where people want to contribute and grow. They possess positive and thriving work cultures.
This important focus on building and maintaining a healthy work culture boils down to the impact of your management team.
Some of the ways that managers can build a more collaborative culture include involving people in the ongoing effort to build a better business:
- Ask for individual feedback frequently and consistently
- Encourage employees to make suggestions and take risks
- Share internal management conversations
- Meet frequently with individuals and groups
Your managers are the face of your company, especially in contributing to the way the company is regarded by employees. People will leave a great company with a bad manager .. but will go the extra mile for the manager who is supportive and nurturing.
Celebrate your people; reward them often and loudly. A successful company is also a happy place to work!
Build Trust & Keep Employees from Leaving
Employees who trust the organization to grow and improve respond with loyalty.
Employees who do not trust are more likely to leave, especially if the business requires more in lean times. Good managers will recognize the signs that an employee is disengaging and looking for a different opportunity – and they will do something about it.
Are certain team members suddenly absent more? Are they interacting less? Do they seem to care less and seem distracted more?
A culture that values its people will train managers to recognize and act when team members are at risk of leaving.
Managing well and building trust requires sustained effort. And, remember, that sustained effort starts on day one: 43 percent of employees say they have high expectations for how employers will treat them as a candidate, and 51 percent of employees expect HR to check in with them regularly throughout their first year of employment.
The Digital Influence
Technology has changed the ways that we all communicate and do business. For example, 43 percent of employees have applied for a position via a mobile device.
However, more importantly, technology has also changed candidates’ expectations about communication and management: they expect that their experiences as consumers online, where the experience is mobile-friendly and accessible, will be replicated in their workplace interactions.
Recognize Who is in the Driver’s Seat
The low unemployment rate is a reminder to hiring managers and recruiters that job seekers and employees have options. According to the Career Builder study:
- 51 percent report they’ve looked at other jobs even when an offer has been extended.
- 67 percent of employers report almost a quarter of new hires do not show up after accepting a position.
Create the Workplace that Rewards and Supports
A great organization takes the time to recognize and celebrate its employees’ contributions:
- Motivate employees through open communication
- Promote internally – showing the potential of advancement for everybody
- Encourage and reward teamwork
- Act like your employees are your clients. When you work for them, they work for you.
Recognition makes people feel supported and valued. It encourages excellence and makes your organization better.
The professionals at Michigan Staffing are experts at employee retention strategies. Please contact us to learn more about how we can help you succeed.