There are few things that are more important than hiring exceptional people, but retaining them is definitely one of them. After all, every second and cent you put into recruiting someone can be wasted if they get cold feet and decide to flee at the first sign of trouble. Simply put, investing in employee retention can save you considerable time and money, but there isn\u2019t a \u2018silver bullet\u2019, catch all solution to doing so.<\/p>\n
That said, we have witnessed organisations using some excellent tactics to retain their staff over the years, ranging from the tried and true to the weird and wonderful. So, without further ado, here a few no-nonsense tips to help you keep your best people where you need them.<\/p>\n
As a basic rule, people want to be appropriately rewarded and recognised for their hard work and loyalty. It goes without saying that giving people raises, bonuses, or other incentives is a great retention tactic, but how you do this is important. If you\u2019ve got team members whose remuneration packages consist of several different bonuses or incentives, then be consistent. Shifting the goalposts on these or having staff lose commission, even if it is because of a company issue having an impact, isn\u2019t what they signed up for and is a sure-fire way to drive good people to the exit door.<\/p>\n
The key here is to not make people fight for a pay rise. Keep it simple by rewarding the behaviour you want to encourage and recognising individual and team achievements to maintain a positive atmosphere. If someone feels short-changed then the problem needs to be addressed, this feeling can quickly spread if you\u2019re not proactive about it.<\/p>\n
Keep an eye on the market and stay away from the \u201cthat\u2019s just what we pay for this role\u201d mentality, upping people\u2019s salaries as the market changes. Doing this effectively keeps you ahead of any potential problems and ensures that your people are suitably paid \u2013 the basis of any retention strategy.<\/p>\n
That said, to encounter an employee who may have outgrown their role, you need to develop them in the first place \u2013 which is something you should absolutely do. Make sure there are options available for career development, and that there are clear pathways within your business to help employees reach their goals. Having established success stories can help people get more enthusiastic about this, so if you have them, showcase them.<\/p>\n
Keep up to date by periodically reviewing everyone\u2019s performance and development. Find out what they want to achieve, and commit to doing what you can to help them achieve it. Lay out a plan, set targets, and make a time to check in again. It\u2019s simple, but effective, and will show your people that you care about their development.<\/p>\n
There are many different things you can do to help your team develop new skills and hone their current strengths, including: sending them on courses, helping them expand their network by sending them to events, organising secondments, or even just pushing them outside of their comfort zone a little bit by setting them challenges.<\/p>\n
If you are supporting your people\u2019s development effectively, then it\u2019s inevitable that your top performers will outgrow their roles at some point. If they haven\u2019t been given the opportunity to progress in the company, they\u2019ll quickly start to feel like they need to go elsewhere to continue their development.<\/p>\n
This is a problem that you can prevent from occurring simply by communicating effectively. Make sure that your team feels like they have an open line of communication with the people within their business who can solve their problems; whether that\u2019s their manager, HR or another function. Catch up regularly with everyone in your workforce to make sure that they\u2019re happy. If they\u2019re not, address their concerns as best you can; if you can\u2019t, then explain why. Transparency goes a long way to creating trust, which is a key puzzle piece in keeping people long-term.<\/p>\n
Your culture, and how you treat your people, is another integral part of your great retention strategy, and it\u2019s also where you can get a little creative. Employees want to work in a supportive, fun and positive environment that has values that they resonate with. To that end, many employers have opted to embrace things like flexible working or relaxed dress codes. Ultimately, there isn\u2019t a one-size-fits-all approach to building a great culture, but it should be true to your business\u2019s values.<\/p>\n
Pay, development, and communication \u2013 these are all great retention tactics, but they\u2019re the foundations of retention; the very basics of keeping your people happy. To make your team feel like they\u2019re part of something special, it helps to go the extra mile and do something a little bit extra. Now, that doesn\u2019t mean you have to go as far as sending your whole team to Disney World\u00a0like some companies do<\/a>, but doing small things to show you appreciate your team can go a long way.<\/p>\n For example, if a big project has just wrapped up or a goal has been met, getting a masseuse into the office is a great way to say thank you \u2013 something that is becoming an increasingly popular trend. Another tactic we\u2019re seeing more of is to engage a personal trainer, either to give people a chance to train at work or to organise a team bonding exercise. This is can be a great perk to give to people, especially if they\u2019re more fitness minded, and can often come at a surprisingly low cost \u2013 especially considering the return you get in terms of retention.<\/p>\n You should also consider personalising these perks to each specific employee. If your team feels that you understand them as people, rather than just as employees, they\u2019re far more likely to stick around long term.<\/p>\n Speaking of team bonding, organising events for everyone in the company to let off some steam is a great way to build relationships. Although most companies have a Christmas party (with varying degrees of success, it must be said), organising smaller events throughout the year can help to bring your team closer together, as well as keeping morale up.<\/p>\n Social events don\u2019t have to be limited to big, one-off events either. Smaller, more regular social events \u2013 like company sports teams, for example \u2013 can be a great way to build bonds and make your employees want to continue working with the people they\u2019ve built relationships with. It\u2019s common to see companies put together a social soccer team that plays together weekly, complete with branded uniforms for maximum brand representation!<\/p>\n This is an innovative tactic that we don\u2019t see all too many organisations take. Most companies will have arrangements with their providers; whether that be for phone plans, travel, hotels, insurance, entertainment, retail discounts, removal services \u2013 some companies have them for just about everything, often procuring these services at a discounted rate.<\/p>\n Despite this, they don\u2019t think to extend these benefits to their staff. This can be a great way to make the lives of your employees easier, as well as helping you to stand out as an employer, as you have a unique offering that your competition won\u2019t be able to replicate.<\/p>\n When it comes to success, having the right people in the right roles is crucial. That is why it is equally as important to invest just as much time in retaining your workforce as you do finding and hiring great people. If you are struggling with either of these two, don\u2019t hesitate to\u00a0get in touch<\/a>\u00a0with us today. We are happy to help any way we can.<\/p>\n","protected":false},"excerpt":{"rendered":" There are few things that are more important than hiring exceptional people, but retaining them is definitely one of them. After all, every second and cent you put into recruiting someone can be wasted if they get cold feet and decide to flee at the first sign of trouble. Simply put, investing in employee retention…<\/p>\n","protected":false},"author":1,"featured_media":2124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised"],"_links":{"self":[{"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/posts\/1977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/comments?post=1977"}],"version-history":[{"count":2,"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/posts\/1977\/revisions"}],"predecessor-version":[{"id":2135,"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/posts\/1977\/revisions\/2135"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/media\/2124"}],"wp:attachment":[{"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/media?parent=1977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/categories?post=1977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.talonrecruitment.com.au\/af-api\/wp\/v2\/tags?post=1977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Team Bonding<\/h2>\n
Make the Most of Your Corporate Arrangements<\/h2>\n
Summary<\/h2>\n