It can seem like a never-ending game of chess. Answering the question of how to retain great employees is one that stumps even the most able of employers. Unfortunately, even human resource departments tasked with monitoring this issue are often operating at a loss as to how to solve it.
[Related: Good to Go: Strong Hires That Are Ready to Work]
A recent study published by TINYpulse, notes that a lack of employee investment and engagement is certainly part of the issue. “Organizations that don’t invest in their employees and [fail to effectively engage them] are just asking to be outmaneuvered by their savvier, more progressive counterparts.â€Â What you do after initially wooing your employees seems to matters a lot. Well, a whole lot. Go figure.
If you’re interested in retaining top talent, you’ll have to be proactive and focus on creating an optimal employee experience as you thoughtfully navigate this issue.
Here are some key strategies for attracting and maintaining gold star employees:
1. Take the time to hire quality employees. The need to run a “well-oiled machine” can put companies in an awkward position. The rush to hire new employees, especially when trying to name a successor, is taxing. But, if finding a good fit is really the goal, then time is better spent discovering competitive options rather than executing a “quick fix,” which hurts the company and its employees in the long-run. Moreover, the indirect costs associated with a quick hire increases exponentially and can easily reverberate throughout an organization. The need to re-train, re-hire, re-execute work and even re-negotiate relationships can wreak havoc on social cache as well as the bottom line.
2. Set clear expectations from the outset and be consistent. Ensuring that everyone is on the same page is critical to success. To stack the deck in an employee’s favor, choose to set clear expectations early on and consistently reinforce them. This strategy alone will optimize company outcomes. Two frequent complaints among employees (both old and new) is ignorance of expectations and lack of consistent standards. There’s nothing worse than bumbling around in the dark so-to-speak and hoping that what you’re doing is right. By being proactive, a company can easily avoid these kinds of missteps.
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3. Offer competitive value, including comprehensive benefits packages. What are the
benefits of working with one company over the next? Beyond the basics of position and salary–benefits, of course. Investing in the employee experience means making sure that health and well-being are accounted for. This includes, but is not limited to traditional medical and 401(k) matching plans. The focus? Increasing value. Think perks that facilitate the ease of work and provide options, such as occasional telecommuting, on-site childcare, cafeteria, gym, or flex-time. Finally, don’t forget the importance of developing a sustainable and supportive workplace culture. It’s an unspoken benefit that ranks high on every list and must be fostered intentionally and with full integrity.4. Monitor experiences, outcomes, and give feedback. It’s certainly one thing to start off on the right foot. Quite another, however, to maintain what you’ve started. Don’t leave the employee experience to chance. Check-in periodically to see how things are going and not just for quarterly or annual performance reviews. Show interest. Offer solutions when things aren’t going so well and feedback so employees don’t have to wonder how they are doing. You can often nip potential problems in the bud using this strategy and score huge points for workplace culture.
Is addressing employee retention currently outside of your comfort zone? It doesn’t have to be. Simply focusing on the employee experience positions every company and their (new and existing) employees for long-term success.
To your success!
Karima Mariama-Arthur, Esq. is the founder and CEO of WordSmithRapport, an international consulting firm specializing in professional development. Follow her on Twitter: @wsrapport or visit her website, www.wordsmithrapport.com.