In an increasingly competitive business world, top talent is in high demand. If you aren’t making your workers happy, another company may come along and steal them away. You may be able to replace them, but think of the knowledge, skills and experience they’ll be taking with them. These will take months, if not years, to replace.
Happy workers who feel valued are not only less likely to leave, but are also more productive. Here are seven tips to help you make sure your employees stick around for years to come, and make a valuable contribution to your company while they’re there:
Create the right culture
Finding employees who will want to work for you and go on to develop a strong bond with your company starts with creating an attractive environment. Your vibe is a reflection of your tribe!
Hire the right employees
When recruiting new staff, look for someone who fits that culture. They should also demonstrate an interest in growing with your company, rather than getting experience to take elsewhere. While you can’t ask this directly, their response to an interview question such as ‘Where do you see yourself in five years’ time?’ will provide a useful insight into their future ambitions.
Empower, nurture and upskill
Just as a carpenter can’t do their job without the right tools, your staff cannot be expected to do their jobs well without the necessary skills and equipment. But don’t stop there: by providing your employees with ongoing opportunities to expand their skills through external and internal training, you will not only be facilitating their professional development but also ensuring that your business benefits from a broader skill set. Everyone wins.
Support and mentor
Make sure that your employees fully understand their duties and how they’re performing. The first steps in accomplishing this are ensuring that everyone has a position description and establishing regular performance reviews during which they receive constructive feedback.
Pay well
As difficult as it is to pay competitive salaries when times are tough, put this in perspective by calculating the cost of replacing employees. It can cost up to 50 per cent of an employee’s annual salary to replace them. As the old saying goes, ‘If you think hiring a professional is expensive, try hiring an amateur!’
Work-life balance
Understand that there will be times when your staff need to attend to personal matters during work hours and provide the flexibility for them to do so. Accommodating your staff in this way will repay you handsomely by fostering loyalty and a willingness to go the extra mile.
If you expect your employees to work outside normal work hours, make sure that this is written into their job description and they are compensated accordingly – either financially, or with time off in lieu.
Have fun!
Research has shown that people tend to quit their boss, not the company. So, make your company attractive to talented people, and smile, laugh a little and have fun!
The Proven Group
The Proven Group is a recruitment agency that works with employers in Melbourne, Geelong and Ballarat to understand their business and workplace culture and prepare and place job ads that attract only the most suitable applicants. We can also assist with all other aspects of recruitment, including shortlisting, interviewing and reference checking. If you’d like help with any part of the recruitment process, feel free to get in touch for a confidential and no-obligation discussion.
