6 ways to retain your best staff
Here’s some news that may come as a shock to business owners… half of UK workers have admitted they’re happy to leave your business in under a year!
Job hopping has become more acceptable to UK professionals according to research by CV-Library, which revealed 74.3 per cent of workers feel a quick move has become more appropriate in recent years, rising among those under 18 to 87 per cent.
With the cost of recruitment to SMEs estimated at being nearly £30,000 on average you’d do well to read (and memorise) the following tips…
Have clear expectations
Miscommunication can lead to unnecessary stress and resentment for staff. Take the time to make your expectations clear to employees and give them the opportunity to clarify anything they’re unsure about. A framework needs to be in place for employees to be able to succeed and meeting your expectations is a key factor. As job roles grow and develop make sure that the new expectations are discussed otherwise you’re setting staff up for failure and a reason to move on.
Freedom of speech
Another major factor in employee retention is whether they feel they can speak their mind freely and without getting into trouble. Being able to offer ideas and give feedback is an essential way that employees engage with their workplace. If they find themselves biting their tongues they’ll be more than happy to say goodbye to your business.
Invest in their development
Developing your employee’s skills and talents through training and mentoring will not only benefit them personally but also your business. Even if this means they may become over skilled for the job they do it allows you to have a candidate waiting in the wings if you find yourself with a vacancy. Staff are far more likely to stay with a business that actively invests in their development.
Treat staff fairly
The perception of fairness is crucial in a happy, constructive workplace. Whilst is it unrealistic to expect that all staff are paid the same it is helpful to offer similar perks and rewards to employees across all levels. Feeling unfairly treated can lead to resentment which can lead to you paying hefty recruitment fees.
Reward results not hype
A worker’s decision to leave a company may have less to do with the business and senior management and more to do with colleagues. Within a business there is always a mixture of personalities and it’s important that she who shouts loudest and longest is not always the one to be heard. Keep on top of what each individual member of staff is doing so that merit is given where it is due and not by master manipulation. If staff know that you will reward results rather than hype they’ll be far more enthusiastic to stay.
Stay in touch
If you are approachable then you will be far more likely to read the signs that your staff may be unhappy or seeking change which puts you in a great position to do something about it. Open the lines of communication with regular one to ones, reviews and staff away days.