Keeping your employees happy and engaged is crucial to the success of your organization. A high employee turnover rate will lead to a low collective employee moral, causing an increase in company expenses.
Morale has a tendency to be contagious within the workplace. If you want to foster an environment that attracts strong workers, you need to be continuously working on your retention strategies. Whether your employee turnover rate is high or low, there is always room for improvement within your culture.
Here are 3 easily implementable tips to help you retain your strongest employees:
A lackluster onboarding process fosters a foundation of negativity for new workers. A survey of 350 HR leaders in the U.S. by SHRM found that organizations are not effectively onboarding their new hires at 76 percent of respondents' workplaces. It was noted that a poor or absent onboarding process leads to lower productivity, higher employee turnover and lower employee engagement.
Onboarding should begin as soon as a candidate accepts the position. Sending them a congratulatory note goes a long way. The next step is to personalize the onboarding as much as possible, while still being able to recreate it at scale.
One way to do this is by having a question in the interview process that gives you some insight into the person (favorite restaurant, sports team, etc). Then, on their first day you can send them something that is representative of that insight. It doesn’t even have to be monetary, just noting that you remember something personal about them is leaps and bounds ahead of what other companies engage in during their onboarding.
Understanding the underlying causes of employee turnover is just as important as knowing how to decrease it. When was the last time you checked the moral of your team, through a preplanned survey?
A pulse check on your team once or twice a quarter goes a long way. You won’t always receive actionable feedback from these surveys, but your team will appreciate a check in. Sometimes people just want their voices heard. Implementing a quarterly surveys will give you key insights your organization needs, while also engaging with the members of your organization.
A great tool to check out is Lattice. They make it really easy to create and distribute surveys that will engage your employees.
A survey conducted by Glassdoor found that 35% of hiring decision makers expect these employees to quit within the next 12 months. There are a variety of reasons why people leave jobs early. Pay is certainly a factor, as the the same study found that 48% of hiring managers noted compensation as the primary driver for candidates accepting a position.
When it comes to workplace happiness and satisfaction, compensation has less of an impact than you would expect. Culture and values of an organization was the top predictor of workplace satisfaction, followed by career opportunities and quality of senior leadership.
A great workplace won’t help you attract strong candidates at scale unless you have competitive compensation. A great workplace will help you retain those candidates, once you’ve brought them onboard.
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