Four Great Employee Retention Techniques Every Manager Should Know
The job market is currently at one of its most competitive times for employers. As positions require more sophisticated technical skills, companies find themselves in the challenging position of finding qualified people. Your organization should already be offering competitive pay and benefits for each position, but in order to retain those hires, you’re going to have to be intentional about the strategies you are using to create an environment that fosters loyalty, growth and long-term employees. These techniques will get you on your way to building that team!
Having a structured mentor program for employees has many key benefits. Your employees integrate faster, learn company culture and develop valuable relationships. From a retention standpoint, it’s important that employees get feedback about their work and a mentor can be a non-threatening source of constructive criticism. Assigning a mentor to new employees also shows that you are willing to invest in their success from the beginning and gives senior employees a way to nurture their leadership skills.
The saying “Culture eats strategy for breakfast, every time,” was made famous by business guru Peter Drucker and a truer statement is hard to find. No matter how on point your business strategy is, if your company culture doesn’t nurture employees then you have a failing company. Too many companies mistake fun for culture – a casual work environment with ping pong tables and foosball, may help burn off some frustrated energy on hard days, but it won’t retain employees. A successful culture is one in which communication is not only clear, but employees are given frequent opportunities to be heard such as team lunches and one-on-one check-ins with managers. In turn, employees need to see how their work impacts the company and gets the team’s desired results. That means communication is a two-way street and managers should frequently share feedback about individual and team goals.
Make Good managers
One of the most common reasons employees give for quitting a job is their manager. Working with someone who is inefficient or a poor communicator will burn out good workers quick. Make sure you are investing in leadership skills for your managers so that they can effectively build relationships and inspire loyalty from their teams. Having the core skills to get a job done, isn’t enough. Managers need people skills in order to get the most out of their employees. Being collaborative, managing conflict and listening are some of the skills that make good managers.
In the age of a service-minded workforce, it is essential that your company has programs in place that connect you and your employees to the larger community in which you operate. Offering paid volunteer hours, matching non-profit donations and sponsoring community-focused events shows your commitment to a purpose bigger than your business and millennials are looking for purpose as part of the package on their job search.
At SilverEdge we love seeing our customers succeed. We’ll help you maximize the capability of your POS system so you can focus on growing your business. Contact a SilverEdge representative for an appointment. We are ready to help make your business richer!