Top employee retention strategies
Exits are often planned. Whether it’s leaving the house for work, going on vacation, or moving away from our hometown, we tend to plan our exits well in advance.
A recent Monster.com survey found that 95% of workers are considering leaving their current positions. Citing employee burnout as the top motivator, they’re already in planning mode.
As an employer, is there anything you can do to stop a mass employee exodus at your company? Review our top employee retention strategies to help you navigate the rest of 2021.
Think Like an Employee
The first step to retaining current employees is understanding why they’re considering leaving in the first place. Research is showing that when it comes to the Great Resignation, employees are choosing temporary unemployment so they can find a position that offers either more money, more flexibility, or more happiness.
With the challenges of the COVID-19 pandemic, it’s no surprise that employee burnout is a major cause of employee turnover. Nearly 60% of employees are feeling the weight of daily stress.
Take a moment to think about your own employees. Are they underpaid? Discouraged over a return to the office? Or are they simply out of physical and mental energy to continue performing?
Knowing the cause of your employees’ discontent can help you find a solution before they move on.
Employee Retention Tips for 2021
Retention strategies for 2021 should focus on two key components: acknowledging top performers and prioritizing safety. Here’s how to do both.
Identify your top performers
Standout performers deserve recognition. More than half of employees crave more recognition in the workplace. Recognition helps employees build a sense of security in their value. Data also shows that as recognition increases, turnover decreases.
Not sure how to show recognition? Try these simple approaches:
- Recognize birthdays and anniversaries throughout the office and on social media platforms
- Celebrate accomplished team goals with a paid team lunch
- Recognize hard work by holding wellness days to promote physical and mental health
- Reward individual employees with gift cards and verbal thanks
Listen to safety concerns
You don’t need to come up with employee retention strategies on your own. Go directly to your employees and discuss their worries and needs.
While some of your staff may be eager to return or remain in the office, others may prefer to work from home. This may be to protect their physical health, mental health, or both. Instead of forcing employees back to an office-based company culture, try offering as much work flexibility as your industry will allow.
Remote work culture is here to stay. Companies solely focused on returning to a pre-pandemic schedule are likely to face employee fallout. As a retention tip, focus on reinventing the future instead.
Can you ditch the office culture entirely and continue to work remotely for the foreseeable future? If not, can you create a hybrid schedule with some in-office days and some remote? Don’t be afraid to get as creative as necessary to accommodate employee wishes while balancing company needs.
What If They Already Left?
Turnover is inevitable. But as some of your employees take this time to reevaluate their employment options, take the time to reevaluate what your business needs.
For example, if you lost three employees with the same job title, do you need to hire three replacements? As employees work from home, are they being more productive? Can you shift job responsibilities to better accommodate them?
The goal shouldn’t be to necessarily hire fewer workers but rather better engage the ones you do have. Then, as weak areas appear in your day-to-day processes, support them with new employees in reimagined roles.
Suggested reading on Candidate Engagement: Why candidate engagement is critical: How to measure & improve
Hiring Solutions for Recruiters
Even the best employee retention tips won’t be enough to keep every employee from seeking other opportunities. If your staff is shrinking and you need hiring help for recruiters, consider Arya.
Arya provides AI technology that helps you source better clients in less time. It’s one of the best hiring solutions for recruiters in 2021.
Try Arya Pulse for single job fulfillment or Arya Quantum for companies with steady hiring needs. To learn more, get a free demo of Arya Quantum and Pulse today.