Turnover is always a huge issue when it comes to being an employer. Why? Well, life happens. Let’s look deeper than that though. There might be a reason people are not staying with you or your organization long term. It is costly to your organization to have an ongoing turnover problem.
So let’s look at how to keep your top talent, grow them and in turn, grow your business.
You can keep employees by:
- Paying well. Base pay is still at the top of the list for what employees are wanting.
- Be a good boss. Not that you ever have the intention to be a terrible boss but what if some of your actions are driving people away? Are you open to ideas of your team? Do you recognize your team for little and big accomplishments? Are you rigid or open and positive? Normally liking your boss has nothing to do with if you would be friends with them outside of work. It has everything to do with trust, respect, encouragement, listening and accountability.
- Provide opportunity for your team to develop and grow. People want to be considered for leadership, mentored and their leadership skills developed. That is your job as their leader. If you don’t have the skill, time or resources to do this, you’ll need to spend the money on third-party trainings or seminars.
- Ensure your environment is stimulating vs. toxic. No one wants to come to a toxic work place. Energetically it affects everything when you or your team are fostering the right environment and not allowing the wrong one to live. It really stinks when the leader is the toxic one. Take responsibility for your environment, even if it is you causing the discomfort.
- Offer perks. This could be as simple as coffee/tea, breakfast, meals, napping room, ability to play games or go on social media during breaks. Make your place of work a place people want to be at.
- Benefits! Along with base pay benefits are important. If you are an employer who does not offer benefits, please look into supplemental voluntary benefits or third party perks like mentioned in #5. Chair massages would go a long way with many people and it is very healing.
Make your place of work a great place to work.