How to Improve Employee Retention

How to Improve Employee Retention

Hiring the right people is just one part of the job of the human resources team; the next difficult thing is to keep them. The late Steve Jobs once said, “It’s not just recruiting. After recruiting, it’s building an environment that makes people feel they are surrounded by equally talented people and their work is bigger than they are.”

Employee retention does not rely solely on competitive benefits package; it’s about making sure they do what they love and they love what they do. Here are some ways you can motivate them to stay with their jobs:

  • Hire Only the Best

First of all, you have to make sure that you have the right people to begin with. HubSpot suggests that your hiring methodology should consist of these five things: skills, culture fit, beliefs, past experiences, and ideas. They believe that this methodology helps in creating happy team members from the start.

  • Lead by Example

One of the factors that make employees leave their jobs is having a bad manager. When leaders say something but do otherwise, they lose their credibility. When you ask your team member to do something, make sure you would be willing to do it yourself. Team members follow their leaders as an example, so remember to walk the talk and practice what you preach.

  • Promote Work-Life Balance

Employees stick around when there is a fit between their careers and their daily lives. If you want your team members to stay, you have to make them well-rounded individuals outside the company, and as much as possible, you don’t want them to feel burnout or depressed. Remember, encouraging work-life balance not only retains employees, but attracts new ones as well.

  • Let Their Personality Shine

When you hired an employee, you expected them to become self-reliant. Therefore, there is no need to micromanage them. Your role as a leader is to set a goal and empower them to achieve it. Jobs said, “It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.”

  • Educate Continuously

Employees stay so long as they feel engaged and challenged with their work. It is important to foster an environment of continuous learning in order for them to understand their work and their responsibilities. As a leader, you should help them learn beyond their tasks and grow within your company.

The success of the company depends on the people behind it that’s why it is important to have the A-players in the team and keep them. Having a good employee retention strategy helps in maintaining your relationship with your team members to contribute to the overall business performance.

The Outsourced Accountant supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 896 522/0800 452 853, and download our e-book.

REFERENCES:

http://academy.hubspot.com/ic15/the-pillars-of-delight

http://guides.wsj.com/management/recruiting-hiring-and-firing/how-to-reduce-employee-turnover/

Human Capital (Not Cattle)

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