Growth. Every successful company strives for healthy growth, and that goal is often tied to hiring the right employees. Whether it’s recent graduates or experienced professionals, new employees can give life and a fresh new perspective to a company. The challenge is this: what will make those same employees stay?
In the hectic schedules of company life, good work can go unnoticed. Positions of every level have experienced this at some point. Social Media and internet can play a critical role in placing new “shiny” roles in front of employees, enticing them that the grass may be greener at a different company.
To help, we’ve compiled a few examples employees often give when they resign. Being aware of these points will give company leaders an insight and an understanding that will retain a more content and tenured staff.
“How can you grow and gain new skills if you stay in one place?”
Educate employees and give them opportunities to expand their skill sets. The more they learn, the more responsibility they can take on. By adding more responsibility, the employee will continue to feel valuable as an important member of the team. Everyone has potential to lead from where they are.
“The same job, with the same company, for seven years? That sounds boring.”
It is rare employees would have the same exact job for seven years. Or even five years. If they haven’t been promoted at some point within that time span, something should be done. It could be as simple as changing their titles and shifting their responsibilities. Faithful work should be recognized and rewarded in one way or another.
“What do you know about life? You’ve worked for the same company since college.”
Periodically evaluate your company culture. If people aren’t learning, growing and facing interesting challenges with you, they’ll find a more stimulating environment elsewhere. Ask them questions. Keep dialogue going to see what you can learn from each other. The simple act of asking a question shows employees their opinion is valued by leadership.
“Dedication has limits. You’re giving the best years of your life to this firm, but if they had to cut someone loose, you know they wouldn’t think twice about it being you.”
The way to gain respect is to give respect. And the way to gain loyalty is to show loyalty. Make sure employees know how much you value them. Regular pay increases (even modest ones) and a little recognition go a long way. Showing how their work contributes to the success of the company will stimulate their desire to increase their value.
“Get out of there and seize the day! It’s time to experience new opportunities.”
Encourage your employees to tell you what they want out of life. Know your employees. And if you can help them achieve their goals, do it. If your employee wants to travel, have him or her join the team working on the account that offers travel opportunity. If he or she wants to get their master’s degree, let them know how you can assist with funding in exchange for a commitment of three more years with the company. Just remember, you can only find out what is wanted if you keep the lines of communication open. Be loyal, be flexible and be honest – your employees will pay you back with dedication and respect.
For more ideas on how to retain these valuable employees, contact Palmer Group for suggestions. Our staff would be happy to discuss this or any other employment topic with you at any time.