Imagine having the same staff for years. A small loyal group that happily go the extra mile and genuinely love your company as much as you do. People you’ve trained up from the start and watched grow into the best there is. Imagine the money you’d save on training and recruitment if you could retain your staff forever. Wouldn’t it be great? But, for many business owners, small and large it just doesn’t seem realistic. Staff come and go. They’re not the right fit; they find a better job, they got bored and unhappy or leave for new opportunities, you might have to let someone go because they’re not pulling their weight. Well, it doesn’t need to be like this. You could retain your staff, helping you to create a forward-thinking, solid company that grows and grows. Here’s a look at the secrets behind these levels of staff retention.
Unfortunately, discrimination is still rife. Few companies offer equal opportunities that aren’t affected by race, gender or age. Even those companies that think they do, that pride themselves on being all-inclusive, often aren’t when it comes down to it. Companies like Ogletree, with a large percentage of female shareholders, are still incredibly rare, and many women struggle to find flexible working arrangements once they have had children. One of the best ways to retain your staff, and to make them proud to stick with you is by offering everyone the same opportunities.
Let Them Grow
One mistake many businesses make is worrying that their staff will eventually outgrow them and move elsewhere to develop their careers. These worries can lead to them holding their team back, not offering training and promotions, not sharing their knowledge or developing their staff.
In these cases, staff get bored. They feel undervalued and underappreciated, and they leave anyway, without ever giving you their best. Instead, let them grow. Offer them your knowledge and your time to help them become the best that they can be. Ensure that if they help you to grow the business, they will be rewarded and fulfill these promises as soon as you are able. If the day ever comes when you can offer them no more, and feel they deserve it, tell them. Let them know that you think they could do more elsewhere and help them to find the right position, knowing that you have had them at their best. Maintain a relationship once they have left, you never know what the future may bring.
If you want your staff to work hard, and stick with you through the tough times, you need to show them your gratitude. You can do this by simply saying thank you at the end of the day, by offering them bonuses when you are able, or offering additional benefits like cost effective couples counseling for their personal relationship, but also in your management style. Allow them flexibility, get to know them and understand their needs. Be there for them by being approachable and friendly. Sometimes these small acts are all it takes to build a workforce that loves working with you.