The Most Effective Employee Retention Strategies

With the aftershocks of the Great Resignation still in play, many organizations have struggled to replace those lost workers. As worker wants and desires change, we’ll continue to see a shuffling as potential employees flock to places that can meet those desires. Smart organizations need a retention plan to keep their best employees engaged, satisfied, and willing to stay with the company.

Training a new employee can be an expensive affair—roughly twice their salary according to Visier. While you can’t prevent all employees from seeking greener pastures, creating a work culture people want to be a part of can limit the risk and help keep your best employees around. Embrace these modern strategies to encourage your top talent to stick around!

Have a good hiring process

Keeping your employees around starts before they even become your employees. Your hiring process sets the tone for the employee’s future with you, so the more transparent and accurate it is, the better.

Visier says to start with an accurate job preview and clear employee expectations. This means being honest about your culture and your potential employee’s role. Not every work environment and employee work style complement each other, and that’s okay. But if you’re dishonest, you’re setting yourself up for a messy breakup down the road.

A good onboarding process is likewise important to set the tone for a new hire’s early days.

Create a culture of value

Ultimately, an employee wants to feel like they fit in with the organization and that they matter to the parent company. A Pew study found that while low pay was the main reason people left their jobs (63% of respondents), feeling disrespected was a close second. 57% of respondents cited disrespect as a reason they left their job, with 35% claiming it was a primary reason.

“Your company likely has clear values and ideals in the handbook. Do you work on them to create a company that makes your employees proud? Maybe your company values equality, charitable acts or protecting the environment. Demonstrate those values through the work you do.” –Indeed

Take a deep look at your culture and how it treats its employees. Do your day-to-day operations align with the company mission statement? Are you recognizing employees for their accomplishments? This self-scouting is vital when asking why employees are leaving.

Focus on work-life balance

To create that culture, the work-life balance needs to not only be respected but prioritized. Pew found that 40% of respondents quit their job due to burnout—often caused by a lack of work-life balance. Combating burnout is an important step in maintaining employees.

Forbes’ Chauncey Crail lists remote work, flexible scheduling, and a reduced workweek as ways the modern organization can foster a healthy work-life balance. We’ve talked at length about how rejuvenating spirit that comes with remote work and how it can lead to better productivity. If you fear these concessions will be bad for your business, not only is that incorrect but you’ll be left in the dust as your competitors evolve.

Offer competitive benefits and invest in careers

Of course, even the happiest employees want to be paid what they are worth—no one is going to work for free.

The cost of living is high and grows at an exponential rate, and at the bare minimum, a company needs to keep up. But that’s not the only way to stay competitive. Ellie Taylor writes that as an employee takes on new roles and projects, they should be compensated for it. Taylor also adds that beyond base pay, retention bonuses, sales commissions, and additional bonuses after big projects will keep employees invested.

In addition to financial investment, investing in an employee’s career growth will keep them around. LinkedIn found that 94% of respondents would stay with a company longer if it assisted with their career growth. Emeritus lists mentorship programs and educational courses as ways to do so. We live in a skill-based career culture, and helping your employees gain the skills they need for a long and rewarding career will create skilled employees that can better help your organization.

“Today’s workforce wants to know what’s in store for their future and whether they can see themselves working with you long term. Stagnation can lead to disengagement, quiet quitting and eventually, actual quitting so provide your employees with opportunities to expand their skills and grow professionally.” –Lisa Shuster, Forbes

Learn from exit interviews

While these strategies are designed as a catch-all to help any organization, all companies are different and face different challenges. If you find you’re having trouble keeping people around, you need to pay closer attention to your exit interviews. Ellie Taylor mentions that many managers don’t see the workplace dynamic in action, especially if they’re busy. Exit interviews give you a better insight into how the employees view the organization. Taking these concerns seriously can lead to actionable results.

You may even learn what external factors are leading to turnovers. Your company may not be problematic, but if competitors are consistently offering higher salaries or benefits, it will give you something to think about.

Wrap up

Employees want more than money from their careers. They seek value and recognition and want to align with their employer’s vision. Keeping these simple ideas in mind is the core of any good retention strategy. Create a place of work that employees will want to stay with and make sure they’re invested in and rewarded properly and you’ll have an environment your top talent is happy to stay with.

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Employer Branding Strategy: Trends To Monitor in 2021

Employers: Does your brand effectively communicate the value your organization has to offer? Are you proud of your reputation in employee experience and employee satisfaction? It’s time you make the necessary adjustments to show your team how much you value their hard work, especially during the unpredictability of the pandemic. Furthermore, your acknowledgment and gratitude will often boost your team members’ mental well-being, thus improving productivity and encouraging them to show the validity of your kind words.

Many employers get wrapped up focusing on the consumer aspect of their brand, but there needs to be an equal focus on the viewpoint of employees and job-seekers. When a strong, healthy image is established through upheld core values, the quality and integrity within each employee will organically strengthen the company’s consumer brand. 

Through a well-structured employer branding strategy, companies can propel their talent acquisition to an upper echelon of job-seekers and improve employee retention. The current shift in today’s workforce calls employers to go beyond the traditional employer branding strategies, i.e., an appealing website, five-star testimonials, and detailed job postings. Here are three workplace trends today’s employers need to closely monitor and implement to stand out as a top place to work:

Increased Workplace Health & Safety Protocols

As the restrictions surrounding businesses returning to the office are beginning to lift, the health and safety protocols remain at large. You can find the CDC’s up-to-date COVID-19 Office Building guidelines and restrictions here. People want to feel safe right now, and if you decide to reopen your office, it is your ultimate responsibility to make sure the proper measures are in place. 

The necessary health and safety protocols go beyond in-office cleaning, sanitization, and social distancing. It is your responsibility to stay up to date with mental health trends by enhancing work-life balance benefits through flexible schedules, childcare assistance, and therapeutic resources. Showcase your call towards mental health awareness and wear it proudly. For the years ahead, establishing a supportive environment for your employees is crucial to retaining your top performers and attracting new ones. 

Integration of Remotely Operating Employees

While some companies near a return to their traditional in-office capacity, others remain in the preliminary stages of that transition. Regardless, the concept of remote employees and Zoom conducted meetings are here to stay. Since companies across the country are making these remote hires, competition for top talent is greatly heightened. If you can adjust your vacant positions to operating on a remote or semi-remote basis, you will open your company to 26% of job-seekers that admit requiring a work-from-home option (via Career Builder). 33% of job-seekers also revealed they apply to jobs outside their location with the expectation they would be able to work from home. 

As a result of the emphasis on remote-based positions, there is an increased value placed on company culture and reputation. Having a quick commute, provided lunches, or an office-with-a-view are much less valued with the hiring shift. The concerns of a remote employee surround topics such as lack of communication, flexibility in work hours, feelings of isolation, and the fear of office politics getting in the way of a promotion. As the employer, you must prioritize ensuring job stability and providing reassurance and fairness in performance reviews. 

An Emphasis on Diversity & Inclusion

Companies that emphasize diversity and inclusion initiatives, such as fair treatment, equal opportunity, and education, will experience immense growth because of the different perspectives and ideas they invite. Consider implementing some of your employees as brand advocates, sharing their positive experiences and excitement about their job online. Your use of social media is a great tool to showcase your responsibility in building a more diverse and inclusive workplace. Conversely, any sign of discrimination that reveals a mark of privilege or bias will be immediately put under the spotlight and have intense ramifications. 

In today’s contest for top talent, the career experts at Smarp stress the importance of attracting the right employees and looking beyond the traditional talent recruitment practices. Here are 10 of the top benefits Smarp lists as a result of diversity and inclusion in the workplace:

  • Accelerated Growth & Financial Performance
  • Boosted Innovation & Creativity
  • Improved Reputation
  • Improved Decision-Making
  • Higher Talent Attraction (67% of job seekers describe diversity as an important factor)
  • Increased Knowledge exchange
  • Increased Employee Engagement
  • Enhanced Employee Retention
  • Increased Employee Empowerment
  • Increased Employee Loyalty

*BONUS* Maintain Accurate Candidate Personas

With the high volume of job-seekers, it has become increasingly challenging to identify all-star candidates. By thoroughly defining your ideal candidate persona, you can more accurately compose your job description to align with your existing team members and culture. Analyze the resume of your current employees and inquire about the qualities that have made them successful. Take note of their demographics, educational and professional background, and any career goals they may have. Other critical questions include:

  • Adding to our three listed above, which job features were most important to them?
  • Were they passive or active job seekers?
  • What tools did they utilize to search for jobs?

Wrap Up

Don’t downplay the importance of focusing on your employer branding and how an effective strategy can impact your company for years to come. Like anything else, it takes hard work and intentionality, but establishing a new narrative through emphasized health and safety, remote integration, and diversity and inclusion will lead you to see your culture and employee output evolve over time. 

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Establishing Good Relationships in the Workplace

Employee engagement plays an influential role in a company’s culture and overall job performance. Gallup Analytics reveals that having close friends in the workplace transform the mentality and makes employees seven times more likely to be engaged in their job. For example, if you see your best friend start exercising three times a week, you are five times more likely to begin exercising as well.

Initially shared by our friends at Mind Tools, join us as we break down the importance of establishing meaningful relationships, what the connections should entail, and how to get started!

The Importance of Good Relationships

When your co-workers are also your friends, you remove the chance of toxicity running rampant in the office. Avoiding this all-too-common complication eliminates the potential of career burnout, high turnover, and obstructed creativity amongst employees. As a result, you cultivate a culture built upon creativity, teamwork, and opportunity through a preexisting measure of respect. Within this connectivity, companies will see an increase in their employee retention rate and notice a significant development in the quality of candidates they attract. 

Building quality relationships at work can take some time, but a strong bond between co-workers plays a tremendous impact on a company’s success and employees’ mental health. Emphasizing healthy work relationships leads to increased job satisfaction and moves you closer to reaching your full potential. With legitimate friendships in the office, you are more comfortable bouncing ideas off each other, challenging each other, and receiving the support necessary to take risks. The more in tune you are in your office relationships, the more your personal relationships will grow. Be wary as not to let the casualness of your friendships overrule the professionalism required during work hours. 

The Structure of Good Relationships

The foundation for healthy workplace relationships is made of several key elements:

Open Communication: Be honest and upfront when discussing job performance, future goals, the progress on those goals, and give praise for a job well done. The more intentional you are in communication, the more effective you will be in the workplace. 

Trust: The basis for any strong relationship is built on trust. When you have faith in your co-workers to keep their promises and put forth the effort, you can know time and energy are not being wasted. Shared trust builds a strong bond between employees and enables a platform for open communication.

Respect: Mutual respect between employees results in your team members feeling valued for their input and opinions and make solutions more attainable through collective wisdom and creativity. 

Mindfulness: Stay cognizant of the impact your words and actions can have on others. Take full responsibility when you mess up; don’t allow your negative emotions to shake up your work environment. 

Inclusion: Stepping outside your comfort zone or taking a new approach to a challenge can prove valuable in your decision-making. Pursue dynamic and diverse perspectives that may be outside your traditional lines of thinking. Hearing these varying opinions can provide great insight to arrive at a solution you were previously closed off to.

How To Build Good Relationships

Patience plays a huge role in cultivating healthy workplace relationships, but there are steps you can take to help expedite the process:

Develop Your People Skills: Having good people skills is essential to get your relationships off to a great start. It is your chance to earn trust through active listening, empathy, and conflict resolution. 

Grow Your Emotional Intelligence: Your EI is your ability to understand and manage your emotions and the emotions of those around you. Improving your EI can go a long way in establishing a strong bond between co-workers.

Be Intentional in Your Relationships: Make an emphasis to interact with your peers by inviting them to lunch/coffee, making yourself available in a time of need, or simply by engaging with them on social media. 

Show Appreciation: Give recognition where recognition is due. Everyone wants to feel valued and praised for their hard work. Being that source of affirmation for others is a great way to quickly develop a bond and earn favor in the eyes of your co-workers. 

Exude Positivity: Through your provided affirmations, expressed gratitude, and ‘glass half full’ outlook on life, you can set the standard for what you what your culture to become. Sharing a consistently positive outlook is contagious in the workplace and will likely draw others to you in the process. 

Avoid Gossip: Talking behind someone’s back is the quickest way to allow toxicity in the office and ruin any progress you’ve made. Rather than avoiding conflict, address the problem directly as not to intensify the issue.

Navigating Through Difficult Relationships

When you encounter a co-worker or manager that you can’t quite mesh with, it can be challenging to maintain consistent energy and passion levels in your job performance. Rather than getting bogged down and overstressed, pursue the individual timidly in hopes of understanding the reasoning behind your differences. From there, take a step back to evaluate and ensure that you are not the root of the problem. If you can make amends to an old conflict, do it now before the cycle of harmful attitudes and behaviors continue.

Focus on what you have in common and show empathy to the aspects of their life where you cannot relate. If you a positive history of working together on a project, reflect on that to re-establish a bond. Not every work relationship will be seamlessly productive and friendly, but extending a little effort can keep them fruitful in and harmony with the culture you’ve built.

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Struggling For Inspiration At Work?

Over the course of your career, there are times you may stop and wonder if what you’re doing is meaningful or beneficial for the company and even your own career. Once you start having negative thoughts about your work, your productivity is likely to follow suit and plummet. Whether this leads to falling into a funk or beginning the search for a new job, figuring out how to regain that inspiration can make all the difference.

LeadershipIQ conducted a study of 13,771 employees and “asked whether their bosses have explained how their work fits into the department or organization’s strategy or goals.” The results proved that if you have felt these feelings of being lost, you are certainly not alone. Only 21 percent of bosses were “always” connecting their employees’ work to a larger, long-term strategy or goal. Of that 21 percent, these people are nearly five times more likely to be inspired in their roles.

If you’re in that 79 percent struggling to find some inspiration or lacking direction, all hope is not lost. According to Forbes Contributor and LeadershipIQ founder, Mark Murphy, you can find some clarity in this situation by having a discussion with your boss. Although this may be awkward, there are four steps you can take to figure out how your work contributes to an overall strategy or goal of the department or company.

Find the Right Time

You don’t want to just pop into your bosses office and take him or her by surprise with this conversation. Reach out in advance and make him or her somewhat aware of the topic. For example, Murphy mentions that you can ask “Would you be willing to have a conversation with me about this new assignment? I find it really interesting and I’d love to learn more.” This is disarming and shows your interest in the work you’re doing.

Ask About Strategy

Now that you’ve initiated the conversation, you can ask where it came from and what the goal is.  Murphy mentions the importance of reinforcing your interest and curiosity in the project first and foremost. Once you’ve done this, you can connect the dots. It is important to not skip this step, unless your relationship with your boss is well established.

“How Will This Be Used?”

You don’t want to come out and just ask why you’re working on this project. Instead ask for more information and how it will be used towards the department or company’s overall goal. It is beneficial to ask this because by giving your boss the option to divulge more information, he or she may actually feel more inclined given your interest.

Ask About the Future

Is this a one-off project, or part of something bigger down the line? The only way you will know the answer to these questions is to ask. One way to figure out the direction and strategy of your company is by figuring out how things you’re working on play into the grand scheme of things. Asking these questions is a great start and look into that strategy.

Wrap Up

Not every day at work will be the most exciting. That is just the unfortunate truth of our careers. However, it is important for the good days to outnumber the boring or bad days. When you know that the work you’re doing is meaningful you will be more inspired to contribute. If your inspiration is lacking, take these four steps and have that conversation with your boss.

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Re-Focusing on Your Career During the Summer

Now that the Fourth of July is upon us, it signals the unofficial midpoint of summer. As you’re sitting at your desk staring longingly at the summer weather, it may become easy to lose focus at your job. Although you may want to be anywhere but work, it is important to stay focused and maintain productivity through the second half of the year.

If you’ve found yourself in this position, there are some things you can to focus on during the summer.

Passion

If you are not passionate about your work, it will become even more difficult to find the motivation during the summer months. Even if you aren’t in your dream job, finding something you are passionate about will help you get through the lull that can be the summer. Depending on the industry you’re in, work flow may vary during the summer months. Without passion, these lulls may drive you crazy.

Unplug

When you’re constantly connected to people in your network and see what they’re doing during the summer, you may become envious about their current situation. If they’re posting about being on the beach and soaking up the sun, it will be hard for you to find the motivation when you’re sitting at your cubicle. Spend some time unplugging from the world to regain focus and clarity. Sometimes, the best ideas and motivation can come from alone time.

Be Proactive

Although it may be a slow period, it is important to be proactive to stay competitive. Depending on your industry, being proactive instead of reactive can set you apart from your competitors. Finding focus is easier when you don’t have to put fires out. Set yourself up for success before you need to.

Wrap Up

Depending on where you live and work, the summer months may be the only time of the year where the weather is consistently nice enough to enjoy being outdoors. Many companies take advantage of this by utilizing summer flex hours or deviated schedules. However, if you don’t work at a company offering this perk, it may become difficult to maintain focus when you want to be literally anywhere other than work. If you’ve found your focus waning, try and focus on these three things to regain it this summer.

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