It's no secret: this fall, good help might be hard to find. This fall, applications for jobless benefits fell to the lowest level in 8 months. What does this mean? The pool of people looking for jobs is quite small, so companies face tough competition for top talent, or an investment in keeping their existing workforce intact. Employee retention is the name of the game as we head into Q4, and though it may sound daunting, we've broken it down into some key areas that need attention to ensure your team remains truly happy and healthy as you head into the new year.
Hint: it's not about hosting more golf outings...
5 Employee Retention Strategies that Work
Keep communication lines open.
No, like really open. Set expectations for everything from high-level goals to working hours and availability, and establish quick regular check-in meetings. Keep your employees in the loop when something's going on or there's trouble in the industry. Keep them in the loop when there's good news to share.
Not only should you emphasize your openness to feedback with your direct reports, but try a more consistent and less demanding format like pulse surveys or HR chatbots, which allow for short and casual surveys and are open for employees to report issues in anonymous mode. An additional step in a project timeline could include post-project feedback collection: what could be improved about the process next time around?
Respect their time.
A broad statement that represents many other tips, boiled down to their core message: respect the time of your employees and they will be more satisfied. What exactly does this entail? Well, lots of things.
The first is to establish working hours and non-working hours. State them, share them, adhere to them. Working outside of these hours? Schedule your email for later. If you have flexible working hours overall, then set core hours people are expected to be available (they could be the middle of the day, like 10am-2pm EST, or could take place in both morning hours and afternoon hours, like 10-12pm and 1-3pm EST). Whatever works for your company – and hey, you can ask your employees – will do, just so long as you are setting boundaries that will allow people to protect their solitary work time and their home life.
The second is to make sure their "on" hours at work are used as efficiently as possible. Meaning: solid deadlines, no unorganized meetings, and goals broken down into actionable items. Before you call a meeting, be clear on what's to be discussed, and prepare any needed information so minutes aren't wasted searching for documents or data.
Emphasize the importance of wellness.
Job satisfaction is largely dependent on the vague measurement of "is this working for me?" Does it offer the flexibility I need? Does it offer the benefits that are important to me? Encourage the use of vacation days, offer understanding or time off when an employee is struggling, and learn (and teach others) the signs of burnout. Sticking to the set boundaries for work hours also displays a respect for the mental health and wellbeing of your employees.
Set a great first impression.
The onboarding process is a new hire's first interaction with the inside world of your company – set them on the right track, from the start. Educate them on their responsibilities and how they fit into the bigger picture, giving them ownership over their role. Put forth your company mission and values, and explain how you and your team achieves and monitors them.
An interesting idea to try: pair all new employees with a "buddy," someone else who works at the company, at any level or in any department, to meet with them, grab lunch, or check in to see how their time is going. Having an acquaintance from the start is a powerful step towards feeling a part of an open and welcoming environment, and one in which there is already an ally.
Encourage professional growth.
This can be done through the age-old practice of attending conferences, but also can be as simple as setting aside time for micro-development. An example: every Friday afternoon for one hour, members of your team are encouraged to learn something new related to their job. Some ideas that come to mind are learning a few new functions in Excel, watching an InDesign tutorial, or reading an article about the future of A.I. This freedom, with boundaries, allows for a break from work and an increase in knowledge, something workers today crave.
The simple act of asking your team if there's anything they'd like to learn more about can open floodgates to an invigorating work environment. Have them report back to each other, in order to keep the enthusiasm going.
Keeping a team satisfied is no easy feat, but making the effort is the first, and most important, step in ensuring your professional environment is one that retains employees. Try some of these suggestions, and let us know how it goes!