By Thomas Griffin, Co-Founder and President of OptinMonster. Entrepreneur, investor and software expert. Helping you be a better leader in your organization.
As leaders and entrepreneurs, you definitely know how important employee retention is. When employees work with you for a long time, they become familiar with your company guidelines and policies and know the overall culture better than those who have just joined in.
As a result, in my experience, longtime employees are more willing to adjust to situations and circumstances to help the company achieve its goal. After working in the same environment for so long, they know exactly how to handle things in specific situations, so their efficiency increases and they become more productive in their jobs. But that’s not the only reason why you should focus on employee retention. It has several other benefits as well.
One such benefit is the way it affects your company’s reputation. Having long-term employees in your company reflects a positive work environment and higher employee satisfaction. So retaining employees for longer can put your company in a positive light and attract fresh talents to your brand. Besides, it also helps you save a ton of money that you would otherwise spend on recruiting and training the new employees to replace the old ones.
It’s not always easy to retain your employees. However, with the right attitude and a little effort, you can easily make it happen. So let’s look at a few ways to do that.
1. Never put employees in the wrong roles.
One of the major reasons why employees resign from their jobs is due to a lack of work satisfaction. This happens when they feel that they are failing to achieve their goals in spite of the hard work they are putting in. If this continues for long, they start feeling dejected and undervalued. As a result, they are forced to quit their jobs and look for new opportunities.
But you can retain them by identifying their skills and talents and putting them in roles that fit them. This will help you boost employee satisfaction and help you retain your employees for longer. It will also ensure that your employees are using their skills and talents to contribute meaningfully to your business.
2. Recognize their efforts.
Another way to retain your employees is to create a company culture that recognizes their efforts and hard work. When you do that, you let your employee know that you value their contribution to the company.
This motivates them to continue their great work because they take pride in their ability to contribute to the success of the company. It is also a great way to foster engagement, boost productivity and reduce tension at work. When all of this happens, your employees are less likely to leave their jobs.
There are several ways of recognizing your employees. For example, you can encourage a peer-to-peer recognition program among your employees. In this program, you encourage your team to publicly recognize each other’s work through positive feedback. Sometimes just a few positive words of appreciation are enough to motivate your team.
3. Stop micromanaging.
Micromanaging can be one of the major reasons why your employees resign from their jobs. So, analyze your behavior and identify if you are micromanaging your employees. When you start micromanaging your employees, you start becoming more controlling in nature.
You don’t want your team to keep you updated on every little task. This can add undue stress, create mistrust and demoralize them. It also kills productivity and makes your team less efficient in their job. All of this can be a major reason for your employees to consider leaving. If you don’t want that to happen, stop micromanaging now.
4. Create a psychologically safe workspace.
Sometimes your employees may not feel psychologically safe at work and fear that their ideas or thoughts can meet repercussions. As a result, they hold themselves from sharing their ideas, feedback or thoughts in general. Such people tend to be quiet in the meetings or are overly agreeable. You’ll also spot them being less interactive with others and mostly take the backseat no matter what the event is about.
If this is happening to your employees, they might end up quitting their job. So, identify any such activities and try to rectify the situation by being more open and encouraging with your employees. Break down any barriers of communication and take the initiative to mentor rather than dictate. Doing this will help your employees feel more comfortable at work.
You can’t always stop your employees from leaving the company, but you can always do your best to make them feel comfortable by creating a work culture that values its employees for their hard work. This will automatically boost employee satisfaction and help you retain your employees for longer.