Business managers and leaders know how expensive it is to have to restaff their teams. Between recruiting costs and loss of productivity due to an unfulfilled position, companies cannot afford to lose employees on a regular basis. With this in mind, more and more organisations are focussing their efforts on retaining their existing talent to prevent disruption. There are many ways to keep your employees happy and loyal, often at little or no cost to the bottom line.
Cultivate a strong work culture. Job satisfaction is often closely associated with a strong work culture in the workplace. The more your employees feel invested in their work and the company as a whole, the more likely they are to stay loyal. Revisit the company’s mission and ensure that all the necessary steps are taken to instill the corporate values into daily life in the office. Find ways to demonstrate those very same values to your employees and adopt new policies that brings focus to the culture in the workplace.
Good leadership. Poor upper management style is often a common reason many professionals decide to leave a company. Without good leadership from the top down, it would be difficult for employees to have a sense of trust, loyalty, and faith in any business. If you have any problematic managers, invest in professional coaching or implement a mentorship programme to help existing managers learn to be better leaders who can inspire employees. Offer lower level employees a chance to lead small projects in order to cultivate and develop strong leadership skills in the next generation of managers.
Professional growth and opportunity. All employees want to have their hard work to be recognised and rewarded. After some time in a certain position, their ambition will lead them to look for more responsibility and challenges. By supporting professional growth and lateral advancement within the company, you are demonstrating that you value your employees and want to see them succeed. By offering and encouraging internal professional development and growth, your employees will feel have more of a desire to stay with the company than if they feel as if their career has already plateaued.
Attainable work-life balance. Although less of an influence, helping your employees achieve a healthy balance between work and personal life can help to convince your employees not to look elsewhere for work. Stress on the job is inevitable, and sometimes important deadlines may spill over into late nights and weekend shifts, but these requirements should be kept to a minimum whenever possible. Allowing your employees to live fulfilling lives outside of the workplace reduces stress when they return to the office and the break from work grants them the opportunity to recharge and refocus their efforts. To help your subordinates find a happy medium, institute certain “no-email” times (such as after a certain time in the evening or when someone is out on holiday) or allow a more flexible work schedule to help them meet personal obligations.
While some managers may think that higher salaries and better benefits will help convince their employees to stay loyal to a company, these two factors have not been proven to have lasting results when it comes to professional longevity. Focus instead on professional goals, and you’ll find that your employees will be happier and less likely to look elsewhere for job satisfaction.