No matter the size or the stage of your business, having employees leave is just bad for business. A higher than average employee turnover rate can cost “twice an employee’s salary to find and train a replacement.” Not only are there financial repercussions, but a high turnover rate can also lower the knowledge base in your company and decrease performance and morale within your existing team.

If you want to avoid the negative effects of high staff turnover this is how best to retain your employees:

1. Hire Selectively

Before you can begin to retain employees, you have to make sure that you have the right employees, to begin with. Take your time when recruiting. Work on the job and person specification. Take into account any potential internal applicants for the role. Better to offer career progression than hire an expensive resource that may not fit with the existing Company culture. Take into account the skill set you require but also which personality traits and behaviours you require your new hire to demonstrate. Use Psychometric tests to identify areas you should investigate further and predict success in the post. An introvert in a sales role may not always work out the way you want it to!

2. Hire for aptitude and attitude not necessarily in relation to a candidate’s existing skillset

Identify areas of concern and question the candidate thoroughly. A candidate that has overcome adversity has demonstrated tenacity. Look for the right attitude towards obstacles they have faced. Accept you may have to offer training in some aspects of the role. You will not find a candidate with everything you are looking for, be realistic and hire someone for the right attitude and aptitude.

Consider how your new hire will fit into your existing team and get your team involved in the recruitment process. They are going to have to spend a lot of time with your new hire, and it is important you do not import more HR problems than you solve by hiring the candidate.

3. Offer a competitive benefits package and use your imagination

Offer flexibility, the option to work part-time hours or the option to work from home.

Many small businesses can not compete with larger organisations in terms of salary and benefits, but nowadays employees want ‘work/life balance’. Offer them this and you are automatically winning over larger organisations who have more rigid working practises.

Perhaps consider offering increased holiday with length of service, a cheap benefit to offer that means a great deal to some employees.

Increase pension contributions, create a culture where employees feel empowered and valued. All these things are important and are often underplayed in organisations.

A higher salary isn’t always the deciding factor when employees to seek employment elsewhere.

4. Provide a Comfortable Work Environment and Culture

Have you ever walked into a room and felt unwelcome or uncomfortable? Image doing that every workday.

Give employees a ‘safe’ environment to work, not only from a health and safety point of view but by offering a ‘protected safe space ‘where they can vent and share their frustrations. We all have days when we need to have a rant, afford them space and the support to do this.

5. Communicate the vision

Employees need to feel included, communicated with after their basic needs of salary, benefits and safe office environment are catered for.

Share your vision and encourage them to live and breathe your standards and values. This way your customers get a consistent approach and your employees feel included and valued.

6. Offer Training

Train people well enough so they can leave, treat them well enough, so they don’t want to. The famous Richard Branson penned in 2014.

If your business is going to move forwards educate your new hires and existing employees with the new technology, new selling techniques, changes in employment laws. Use technology to save them time with the boring mundane tasks so that they have more time to focus on what they want to do within their roles.

7. Listen to your employees

You can always spare a few minutes to find out what’s going on with your employees in both their professional and personal lives.

By talking to your employees, you will glean what makes them stay. Find out exactly why employees have remained with the company and what it would take for them to leave. Talk about his at interview with any prospective new hires, if these things don’t resonate with them, they may not be the right fit for your organisation. Interviewing is a two-way transaction. Your employees are more likely to stay in post for longer if they buy into your culture and ethos. 

And if they leave, they are more likely to be complimentary about your organisation. People don’t stay forever, their situations change.

8. Glassdoor rating – ex-employees rate you as an employer.

Glassdoor is a review site and is built on the foundation of increasing workplace transparency, they offer millions of the latest job listings, combined with a growing database of company reviews, unlike other job sites, all of this information is shared by those who know a company best — the employees. 

We are finding more and more candidates are reviewing company profiles and ratings before applying. Look after your Glassdoor rating!

9. Quarterly Reviews

Quarterly reviews or one to one conversation are a great way of communicating with your team members. These one-on-one meetings allow you to set goals and define how you want these goals to be achieved, realign and touch base with your employees. However, this discussion should also include asking them what they need to accomplish these goals and identify any sticking points or frustrations. Remember, this is should be a two-way conversation – act on what you hear. Give feedback and be honest.

10. Say ‘Thank you’!

Finally, and perhaps most importantly, you have to recognise your employee’s accomplishments. This could be a simple thank you each day before they leave, or a handwritten well-done note or a voucher. Team lunches are also a way of encouraging team bonding and as well as a way of saying thank you to your team.

For assistance with the recruitment of your new hire, salary survey information or advice on employee retention, or a complimentary Glassdoor audit, with advice on how to respond to adverse comments – call us.

We are really interested in hearing how your employer retains you to stay within their business?