4 things smart businesses do to keep their current team
It’s healthy to want to recruit great talent, and see your team go from strength to strength.
But in your focus to attract more candidates, are you definitely paying enough attention to keeping your current team happy and engaged - or are they at risk of feeling neglected?
Some research from the US workplace gives a rock solid reason to make sure you work as hard on retaining talent as recruiting them in the first place: one in four employees may well be considering leaving you right now.
When it comes to showing how much you value your team, here are four of the actions your business needs to take - before it’s too late.
1 Review pay
Salary isn’t the be all and end all, but making sure your pay is competitive is one of the most important factors in encouraging staff to stay.
Carrying out regular pay reviews shows you take this seriously as an employer. And if you’re not sure what your competitors are paying, it’s worth getting to know the average salaries in your sector with the latest HR GO salary guide.
2 Focus on (all aspects of) growth and development
It’s well known that investing in professional learning and development is a key ingredient in employees feeling valued, engaged and ultimately staying loyal.
So if your team doesn’t feel that the right tools are in place to support the career growth they crave - decent training programmes and mentoring schemes, for example, and a clear career path to where they want to get to - they’re more likely to look for another employer.
Growth means a focus on personal development, too - whether that’s supporting personal goals outside work, or paying attention to soft skills that are transferable in the job market.
Showing that you view your employees as people instead of just workers - and care about their progression - will go a long way to helping them feel more fulfilled and valued.
3 Keep an eye on benefits
Good benefits can make or break employee loyalty, with one recent survey suggesting that 86% of respondents see it as a factor in whether to move jobs or stay put.
Perhaps you welcome pets into the workplace, or staff might enjoy eating in a subsidised cafe. There may be a meditation room, or discounts to a gym subscription. Then there are different ways of working, like remote working or Friday afternoons off in summer.
Whatever perks your business offers, remind staff what they’re entitled to. And do you know what they really value, or how your package compare with your competitors?
4 Have open communications
When businesses are going through periods of change, good communication is crucial. And it’s just as important even when they’re not.
Scheduling regular one-on-one catch-ups - even when things seem to be ticking along as usual - can help keep staff’s engagement levels up. And meeting up outside of the normal stress-inducing performance appraisal can be even better.
Whether you’re passing on praise and thanks for work well done, or asking for feedback about how they feel things are going at the company, make sure it’s a two-way conversation and you see where you can take action. These moments are also a chance to spot any problems early on before they have a chance to get worse.
At HR GO, we often hear candidates complain that they didn’t feel listened to in a previous role. Creating an environment where employees know their views and input are valued could be the key to keeping your current team happy in their jobs for the long term.