Employee retention is about keeping the great staff you have, once you’ve found them. There are a number of factors that have an impact on improving staff retention, including:
- Improving communication processes
- Staff involvement
- Confident senior and line managers with strategic direction for your organisation
- Providing training and development opportunities
- Market-aligned pay and benefits
- Fair and effective management of staff by managers
- Competence of line management.
Focus on improving these areas and you will be able to improve your employee retention. But don’t get complacent – there are many threats to retention. What might cause your employees to leave? They include:
- Re-organisation of your company – particularly if staff are not consulted
- Redundancies – people can lose morale when others leave
- Recruitment freezes – this could be a sign that the business is not going places
- Lack of confidence in management – if you people don’t have confidence in their managers they may not stay
- Line manager incompetence ‘ your line managers may not have the skills to keep your staff!
What’s the biggest threat to employee retention? It is poor employee engagement. Work on improving your employee engagement and high employee retention will follow.
For more on employee retention, click here to watch a short video.