Fact: It takes time, effort and money to hire a new employee.
Fact: It takes time, effort and money to train that new hire.
Fact: Your new employee will decide within 30 days of being hired if they’re staying or looking for another job!
Your job is to make them wanna stay. They need to be convinced that they made the correct choice. Yes, I said it is your job and here’s why…
The unemployment rate which has been around 5.4% is now at 5%! To put it in other terms- if you want a job you’ll get hired! The pendulum has swung again and employees hold the power. That’s leadership!
How to keep folks from moving on is tricky, but there are some steps you can take to assure that you’re giving them reason to stay put. Who is doing this to retain folks? A lot of companies are and so should you. And, this includes employee that have been with you for awhile!
Offer small perks- Have a car service pick up cars for oil change and car wash. Friday dry cleaning work pick up. Give staff their birthday off.
Competitive compensation and benefits- Health and life insurance plus a retirement plan are essential.
Flextime- Show some love here and you’ll keep your staff longer. Work from home (1-2 days a week), no vacation days needed to take your child or parent to the doctor. Half day Fridays during the summer. (may need to rotate people i.e. they get 2-3 Fridays a month.)
Keep those doors open- If you’re a fan of statistics you’ll appreciate this one. Leaders who communicate well with their staff have a better chance of keeping them. People desire a manager who they can chat with about work issues. Pretty simple, right?
Then why are so many managers sucky at communications? I don’t place all of the blame on them. As a company we must make sure that our managers are comfortable listening and communicating to different generations and cultures. Training may be the answer here and it’s money well spent. If you force feed employees crap and don’t communicate well with them they may regurgitate the same or leave.
Your job is rewarding and challenging. This applies to you to. Are you happy? Are you looking? Are you doing a little extra to make sure you don’t lose valuable employees? Okay then, work it!