Organizations live in tricky times now. On the one hand, we are witnessing mass resignations; on the other hand, many vacancies are cropping up. In these tumultuous times, adopting the right employee retention strategies is the best way forward.
Here are the top three employee retention strategies that you can adopt:
Help employees develop to retain them
One of the top reasons for employee attrition is the lack of clarity in career progression. The lack of professional development avenues and promotion opportunities leave employees disgruntled, resulting in attrition.
LinkedIn’s 2018 annual Workplace Learning Report points out that 94% of employees agreed to stay in a company longer if the company was invested in their professional development.
Employee development and career progression do not mean a guarantee of yearly promotion – it’s a much broader concept. Employees want to know how their individual goals align with the organizational objectives. They want to play an active part in shaping their career trajectory.
One of the first steps to fostering a culture of professional development is to invest in a reliable learning solution. With a platform like KNOW, you can give your teams access to learning and self-development at their fingertips. By creating bite-sized content training content on KNOW’s mobile-friendly platform, you can train and upskill staff anytime, anywhere – without any additional infrastructure expenses. Click here to learn more or sign up for free a demo.
Encourage and practice two-way communication
In modern organizations, communication is no longer one-way, memo-based, flowing from management to employees.
Communication has evolved into a much more organic, opinionated, and outgoing two-way engagement between employees and management. Employees expect to be informed about what is going on at the company. They need to feel free to express their opinions about it.
To establish organization-wide communication, many companies today are using technology platforms. KNOW can help you broadcast key announcements from senior leaders and establish communication channels between teams. It can also prove to be a good way of measuring the pulse of the organization by conducting snap polls, pulse surveys, etc.
It is similar to a modern-day open-door policy, where employees feel that they have access to the organization’s leadership and believe that their voices, ideas, concerns, and questions will be heard. The more the employees feel they are heard, the more they feel valued.
Promote employee health and wellbeing
Employees spend no less than a third of their entire day working. In the grind, sometimes health tends to take a backseat. As a result, physical and mental health issues start emerging. This is affecting productivity, and employees are quitting their jobs. Organizations are now increasingly emphasizing not just physical health but the overall well-being of employees.
- The first step is recognition – understanding that the health and well-being of employees are important to them and the organization.
- The next step is communication – ensuring that employees and their loved ones know that employee wellbeing is on the company’s radar.
It need not be a complex set of offerings and benefits. You can encourage employees to take scheduled breaks from work and ensure the availability of counseling and mental health expertise alongside physical health initiatives, such as gym memberships, fitness challenges, health check-ups, etc. Some organizations are going even further to take care of employees’ digital well-being – for example, by ensuring that their screen time is under healthy limits.
Employee Retention: The Way Forward
The strategies mentioned above need to be tailored to the distributed workforce. A predominantly distributed workforce implies staggered working hours, on-field presence, locational flexibility, etc. so, traditional methods may not work very well.
For a successful employee retention strategy, you must have a technology platform that makes the lives of your non-desk workers easier, including making technology accessible to non-desk workers and digitizing all routine operations.