Undoubtedly, staff turnover is detrimental to an organization’s performance. It is estimated that companies spend up to 1/3 of their payroll on recruiting new employees. Some experts believe that such costs are much higher in membership based businesses. The turnover of employees has a strong impact on the decision of members to stay in the company or, conversely, to discontinue their participation in the company.
Here are ten steps on how to retain good employees:
1. Before an employee starts working for you, equip him/her with all the necessary knowledge concerning the standards of work with you, he/she should know clearly what is expected of him/her. The employee should not be constantly guessing what they need to do, what is expected of them, etc. This wastes time and frustrates the employee.
2. Provide comprehensive training for your new employee. Spend the time and money to train your new employee in the specifics of your organization. This is an unnecessary waste of time and money, even though you will get a great employee who will feel like a fish in water at work this way.
3. Show the newcomer who should be his role model. As the head and manager of the company, you have the right to set the tone for the entire company. If you want all of your employees to follow your direction, make sure that you are committed to it not only in words, but also in actions.
4. Give your employees the opportunity to improve. Consider sending your employees to training courses to improve their skills. This will benefit you in the form of increased employee productivity, increased competence and an increased willingness to work for you.
5. Establish two-way communication. Don’t wait until between inspections to praise or, conversely, point out areas of weakness to the worker.
6. Allow your staff to express their perspectives and opinions on the problems at hand. Hold more joint brainstorming sessions to come up with new ways of solving problems. Ensure that such meetings are not threatening, but supportive and constructive.
7. Reward your employees. When an employee does a great job, give them gifts and recognition. Make sure everyone else knows about it and it will motivate them. Gifts do not need to be very expensive – it all depends on your capabilities. Your billable hours need to be top notch so your employees are not feeling underappreciated due to malfunctions. Sometimes, in order to make a person feel appreciated, it is enough to give him just a small gift as a sign of attention to him. This can be a postcard, a bouquet of flowers, a certificate for successful work, tickets to a movie, a concert or some sporting event.
8. Show the employee the system of values, norms and rules of conduct governing human interaction in this organization that are based on openness, trusting relationships and having fun. Celebrate your successes with those who have helped you achieve them. Everyone should feel that they are an integral and integral part of the team.
9. Encourage an open line of communication. Whether your organization is currently experiencing stunning success or is in crisis, keep your staff tightly-knit. By keeping your staff in the loop, you keep them in constant contact and treat them as an important part of the team. In return, your employees will give their best for you and more.
10. Respect your employees. Show them that you care about them not just as your employees, but as a person. Follow the golden rule: “Treat others as you would want them to treat you.
If you follow these simple tips, you will soon see a noticeable increase in your workers’ productivity, improved morale, and increased loyalty to you.