Effective Employee Retention Strategies

When managers put in so much time, effort and training in the hiring, selection and development of employees, staff retention is extremely important. Here are some simple, yet effective ideas that can be incorporated within most organizations to reduce employee turnover:

1. Develop an environment where your employees will feel valuable. Make them feel secure about their job. Get input from them on current and new ideas for the organization. Encourage them to set their own goals and allow the maximum possible autonomy by having them make the right decision themselves. Ensure that they understand that they are not “a number” and that their personal efforts contribute to the company’s overall objectives.
2. Make the goals and expectations of the company clear. Each employee should have a job description so they know what is expected of them. If any changes are required, communicate them directly and clearly.
3. Provide an honest and open environment for your employees. Ensure that you provide frequent feedback on the work they are doing and be open and willing to discuss and listen to the employees’ ideas, complaints or problems. Also, consider any suggestions or new ideas they bring to you and discuss it with them for any improvement you may want to make. This will make them feel like a part of the organization.
4. Provide ample opportunities to learn and progress. Let them know there is room for promotion/advancement in the company for all hard-workers. If possible, provide training courses, or on-the-job training, and assign them challenging and stimulating work so they can improve their skills and broaden their experience. You need to tap into their passion and let them focus more of their time and energy on projects they can enjoy. You can also discuss potential career development options and how they can grow along with the company.
5. Acknowledge and reward good work. Monetary bonuses are almost always well accepted but a little recognition will be the cherry on top. This will improve employee loyalty and will create goodwill. To retain talent, managers need to make sure they feel recognized, respected and worthwhile. Employees who feel otherwise, are more prone to look for external employment opportunities.

Overall, hiring managers must follow a sound hiring process and provide a workplace that incorporates effective retention strategies. Managers also need to ensure that employees are a good fit for their job according to their skills, experience and interests. Employers should perform research on traits of their current successful and loyal employees, so when potential candidates come in for interviews, they can judge them appropriately. By following the above general practices, organizations will experience lower turnover and their employees will be happier with a greater sense of fulfillment. 

Sean Kogan is co-founder and Managing Partner of Recruiting in Motion; a professional services recruitment firm with locations across Canada.