6 ways to help prevent high employee churn
Beyond the financial implications, low employee retention can have a significant impact on existing employees, leading to low morale, poor productivity and low engagement which will exacerbate the issue.
No business wants to lose employees.
Here are six ways to help retain staff:
1. Encourage open communication
Employees want to feel seen, heard and respected at work, and to know that their efforts are contributing to a bigger picture.
Open, two-way internal communication in businesses give employees regular opportunities to share their thoughts, feelings and desires.
It also means that relevant information is freely shared and cascaded down from senior managers to keep employees informed, connected and aligned.
Regular transparent communication from the leadership team contributes to this and also helps to build a culture of trust and collaboration, where employees feel well-informed and equipped with knowledge to take into their day-to-day roles so they can make a tangible difference.
The result Is that employees feel more committed to your business’ vision and goals.
2. Regularly recognise achievements
Employee recognition and rewards drive motivation, job satisfaction and engagement by providing purpose and helping individuals feel adequately appreciated for their contributions.
Recognition is a clear driver of employee loyalty, with employees who receive high quality recognition 45% less likely to leave their jobs over a two-year period and 20 times more likely to be engaged.
The key here is for the recognition to be frequent, timely and meaningful, which is why strategic employee reward and recognition programmes that are tailored to your business’ culture, goals and employees are effective in boosting employee retention.
The bonus is you’ll strengthen colleague connections, drive performance and enhance workplace culture too.
3. Prioritise connection and culture
Seven out of ten (70%) employees strive for emotional connection at work, demonstrating the value of forging genuine relationships with colleagues.
So, when human connections are formed in the workplace, employees’ attachment to your business grows.
To help these attachments form, prioritise giving your employees opportunities to connect.
Whether that’s virtually through an internal communications tool, recognition platform and virtual meetups, or in-person with social events and team-building exercises.
These opportunities to connect help bring employees together and encourage them to get to know their peers on a personal level, helping foster an inclusive culture where individuals feel part of a united team.
4. Provide regular opportunities for reviews and feedback
Performance appraisals and regular manager check-ins form a critical part of building high employee retention.
These reviews give employees clear feedback on their performance, a structured approach to their professional development and a chance to voice their own personal feelings and ideas.
It comes as no surprise then that employees who receive consistent feedback are 3.6 times more likely to be engaged in their roles.
Feedback and goals provide clear direction, a sense of purpose and, importantly, demonstrate that your business cares about its employees.
Employees then have something meaningful to strive towards each day, helping boost motivation and job satisfaction.
Without regular appraisals, employees can easily lose clarity over their role, feel directionless, unsupported and decide to look for opportunities elsewhere.
5. Adapt your hiring and onboarding process
In many instances, a high staff turnover rate can be linked to poor hiring and onboarding which have resulted in individuals joining the business that don’t adequately match the job requirements or expectations.
By taking the time to ensure you hire the right people for the roles available, you’ll naturally improve job satisfaction down the line.
Beyond that, building a robust onboarding process that ensures employees feel seen and supported from their very first day with you will naturally help them envision a long-lasting career.
6. Deliver relevant, compelling employee benefits
A meaningful benefits package can significantly contribute to driving employee retention.
At a time where employees are motivated by more than just a payslip, benefits strengthen your business employee value proposition and not only give individuals a reason to stay but attract new talent.
But benefits need to have a meaningful impact on employees and be well-utilised to have an impact.
With 19% of employees saying that they don’t feel benefits, reward and recognition at their business meets their needs, it’s clear that businesses are investing in benefits but missing the mark.
To combat this, aim to get an unfiltered understanding of what benefits your employees want.
That way, you can align your benefits to the needs and interests of your workforce and ensure that your investment does contribute to boosting employee retention.
Supplied by REBA Associate Member, Boostworks
We’re the people that help people thrive.
