Let’s reverse the question; Why do your employees stay?
How much does your company spend on recruiting? Interviewing? Onboarding?
The golden rule of being with one company for a career is retiring with the baby boomers. Much of the knock on millennials entering the workforce is the lack of “loyalty” to the company. To plug the holes of employees vacating, companies spend a considerable amount of resources on recruiting new employees.
Perhaps the model as we know it is flawed. Instead of accepting the turnover and spending resources on finding the next employee; let’s refocus our efforts on our current employees. Does your organization understand what your employee’s desire? Do you understand how to create an environment where very few employees would ever leave? Do you understand how to get the highest level of performance out of your employees? This type of environment entices top performers to FIND you, rather than going out to find them.
According to a recent survey by Time Magazine here is why employees stay:
I enjoy the work I do (67%)
My job fits well with the other areas of my life (67%)
The benefits (60%)
The pay (59%)
I feel connected to the organization (56%)
My co-workers (51%)
My job gives me the opportunity to make a difference (51%)
My manager (40%)
So how do you create a culture where employees stay?
Start with an extensive interview process ensuring you have the right candidate for the job.
Work life balance. Refrain from the rigid clock punching mentality and let employees work on their own time.
Create mediums for employees to have a voice in the company’s future
Help employees find their passion. Work closely with employees to ensure that each employee is engaged, excited, and challenged to contribute, create, and perform.
Understand your employee’s skills and abilities. When employees are in a position based upon their skill set they feel prideful, accomplished, and self-confident.
Train and Develop. Employees want to develop and grow their skills. Invest in it!
Employees need to understand their contribution of work to the organization’s goals. Discuss the relevance of the employee’s job, key contributions, and deliverables to the overall organization. Employees need to feel connected and that they are part of an effort that is larger than just their job. This creates the sense of meaningful work.
Organization’s financials- Employees who are worried about getting paid tend to leave
Finally praise goes along way. Praise employees for all accomplishments (big or small)!
Recruiting is expensive. Give retaining a shot.
Ryan Rao is a Principal of Apex Franchise Development Group and is a franchise development expert who has grown multiple franchise based businesses into national and international brands. Franchising has allowed him to help individuals realize their dreams of business ownership, while permitting them to experience the independence, flexibility, and freedom that comes with being a business owner. He also serves as a franchise consultant, and is a personal growth advocate.
https://apexfdg.com/wp-content/uploads/2017/11/Why-do-your-employees-leave.jpg352615Ryan Raohttps://apexfdg.com/wp-content/uploads/2017/10/Apex-logo-blue-300x138.pngRyan Rao2015-04-23 18:24:392017-11-16 18:25:03Why do your employees leave?