Yes, we always talk about recruitment because that is what we do, we are a recruitment partner. Even so, we still understand that the best way for a firm to operate is to make the working environment, both literal and metaphorical, as welcoming and open as possible in order to retain staff.
Retaining employees just makes sense. If you have invested time and money in a new candidate and they are out of the door soon after, you have spent precious resources and you have nothing to show for it.
Losing employees means losing part of your knowledge base and it also means you are losing productivity. If your business has a revolving door of staff, that does not make for a cohesive team. The atmosphere will be a tense one, as, with each team member who leaves, their responsibilities fall on the other members of the team. Resentment can set in. This is not a prime situation for new hires to enter. It can become a vicious circle.
So what can be done about it? Well while markets can take some of the blame and the generally accepted amount of turnover is under ten percent, the main cause of turnover is job dissatisfaction.
To counter this, it takes effort but at the end of the day, that effort is really worth it. It takes making steps to understand your workforce. What are the pressure points? What are the annoyances in their roles? Do they feel appreciated? Have you fostered an atmosphere where they can air their grievances or problems without judgment?
Respect in the workplace is key. Nobody wants to be disrespected. Pretty much everyone wants to come to work, do a good job and be rewarded in terms of money and also in terms of gratitude. The gratitude thing is a two-way street, as, when you give it, you get it back. A happy workplace is also a healthy workplace. There are less sick days. And it all comes down to respect. Respecting your workforce’s points of view and experience pays off many times over.
As a continuation of that, allowing your staff to be creative, share their ideas on how things can be done better and to vent frustrations. What would you do if a team member had a business idea that utilised things they learned at the company, or perhaps, the company’s technology. Bad companies would either deny them further access to the tech or bring in lawyers to maintain that the idea is the company’s because it was originated on company time. A good company would enter into a partnership with the employee, as long as the idea is good of course.
Companies can also incentivise the work in accordance with industry standards, offer rewards and perks. These kinds of steps take little effort but can demonstrate that the company is empathising with their staff in order to make their company as enticing as possible.
The work-life balance must be respected. If your employees do not have time for leisure in their lives, some way to let off steam, there is a greater chance of burn-out. If a team member burns out, they are no good for your business, and they are no good for themselves either. This is where the responsibility of the company comes in. Just because you can work your employees to death, does not mean you should. The action that makes most business-sense is to allow your workers to have enough time to engage in activities outside of work, so that they do not feel like they have nothing else to live for. If you are made aware of staff who are overworked, they should be allowed some time off or at least a re-examination of their workload.
Curious about how Zenshin Talent can help your organisation? Contact us today for a no-strings conversation about your needs and our experience.