14 Hot Tips for Better Employee Retention

It's always better to work towards #retention than going through the cycle of hiring, training, employing, and releasing. It makes sense financially as your company saves money, and it makes sense on a personal level as an employee who wants to stay becomes more productive. Here are:

14 tips for employee retention

1. Hire the correct person the first time. Ensure that you are hiring the right person at the very start, and make the process thorough and complete. 

2. Excited people can be a good thing. When your job applicant is asking questions, has done research on your company, and talks about their future working with you, be excited too.

3. Promote from within. Before looking for new people to fill in a void, look from within. Find your employee that fit the requirements, you know their pros and cons already, and what to work on, and develop.  You've already invested your time and training in them, it's time to reap the profits. 

4. People May Not Change. Expecting them to do so may be detrimental to your team. Yes, people do change, they can learn new stuff, and be better. The issue is that you may be expecting it already, which in turn could be disastrous for your team. Hiring an introverted, yet gifted artist hoping for a change in attitude and that your team's open nature will be contagious is not a pony you should bet on.

5. Top Candidates Don't Always Stick Around. People and their diplomas are commodities in short supply. If they already had multiple choices before they ended up with you, it does not mean that the companies that lost out to you will stop trying. These are the times when your knowledge of people will be called. A lot of people can be assets without Ivy diplomas. 

6. Pay Market Rate. It's one of the first things an applicant sees. Pay them low and they'll be out the door, pay them fare and they'll feel better. Pay them more and they just may stay a little longer. 

Commissions, profit-sharing, raises, and bonuses, all say that you value your employee.

7. Share when it's good, share when it isn't. If the company does well, share the wealth around, if there are issues, let everyone know about them. 

8. Be Fair. Try not to make pay different for people doing the same jobs. Try not to raise pay when others get laid off. It's not always about business sense, sometimes it's about fairness.

9. True Transparency. There are leaders who pledge to it but fail to live up to the hype. Being transparent to your people allows them to genuinely care about your company. 

10. Create an in-house community. Especially in healthcare, people spend too much time at work than in their homes, with families or friends. Help them decompress by creating communities like a sports tournament or talent contest, maybe even interest groups.

11. Communicate Constantly. Be mindful and genuinely listen to your people without distraction. If you don't have time, then make time. Schedule talks or just leave your door open. Just make sure they have your undivided attention and if their issues are actionable, make changes. 

12. Use your Employees' Strengths and Work on Their Weaknesses. Find the right fit for your employee. Look for places where their strengths are put to good use. Have regular training for their weaknesses to help them improve. Letting them use their utmost lets you reap their full potential, training their weaknesses may awaken other skills they did not know they had.

13. Retention does not mean keeping everyone. Finding the right fit for your employees will help them stay longer as they find fulfillment and happiness in their jobs. There will always be those that cannot find that fit and would feel like an outsider to your company's culture. Maybe it's time to set them free.

14. Be Gracious with Goodbyes. Your employees will leave one day. Their reasons may be different, and it may not be what you need at this point. Just make sure to think of the positives the employee had with the company. Truthfully wish them the best, and let them put you as a reference. They may end up recommending you to friends and other colleagues. Some may even return.

Your employees are your partners in taking your company to the top. Keep them happy, communicate with them honestly, show them their worth, be fair, and stop worrying about retention, ever. Let's talk more about #retention and how DCC can help you by emailing info@davidcouperconsulting.com