In today’s world, it’s not uncommon for individuals to change jobs as frequently as every few years. And this trend is becoming accepted in the business world, especially as more of the younger generations start their professional careers.
For some employers, this has left a bad taste in their mouth for hiring. The simple truth, though, is that the younger generations have been taught not to settle. Instead, they follow their passions and find work that is impactful.
With so many talented people out there, how do you make sure your company attracts and retains employees for the long haul?
Long-term employees look for:
1. Expectations and Security
One of the biggest keys to retaining employees is to create an environment where everyone knows their role and feels secure in fulfilling their job. If your company doesn’t have defined roles, systems, and expectations, then employees will feel unnecessary stress and it becomes difficult to hold employees accountable.
As an owner or manager of a company, it is your responsibility to make sure there are appropriate systems in place to create a secure work environment.
2. Responsibility and Engagement
Long-term employees are looking for satisfaction in their jobs, and two keys to satisfaction are responsibility and engagement.
An individual is more likely to feel motivated to go above and beyond at work when they are given freedom to demonstrate their ability to self-manage and be responsible (and if they can’t do that, then it’s a good sign you don’t want them on your team for the long-haul). By creating an environment where employees can shine, you let your employees know that you trust them.
This also creates engagement in the workplace, and the more engaged your team is, the more productive and happy they will be. If you’re looking for more ways to empower your employees and create engagement, try these proven tips to engage your team.
3. Tools and Training
Too many companies focus solely on the work they want employees to accomplish and forget about the resources it takes for employees to do their jobs. Giving your employees the right tools to do their jobs is crucial, whether it be technology, software, or supplies. Stay up to date on the latest innovations in your industry, and make sure you’re investing in the right ones for your company.
But if you stop there, your employees will never experience the true benefits of having the right tools. You also have to provide them with the appropriate training, and you should never stop training. Employees can never know enough about your systems and tools. Today, software and technology are also constantly changing and you need to make sure your team stays up to date with these changes or you’ll face efficiency problems.
If your organization has training deficiencies, learn how to implement better job training.
4. Opportunities for Growth
Static is boring, and bored employees are unsatisfied employees. Obviously, you hire your employees with a specific role in mind, but you should also empower your employees to grow professionally. Not only will employees become more satisfied with their job, but there are also benefits for your company.
As employees grow in their career, they become more qualified to fill higher or different positions within your company. This is invaluable for your company’s growth because the individual already knows your culture, systems, and processes. So, invest in your employees’ personal development and you’ll be investing in the future of your company.
5. Recognition, Reward, and Appreciation
Point blank: people don’t want, they need to feel appreciated. Recognition and demonstrating appreciation are so crucial, they may actually be the most important aspects of employee retention.
Start by just saying thank you. It shows employees that you are aware of the impact they are making for the company. Monetary rewards, gifts, and bonuses take your thank you a step further and employees will definitely appreciate it.
Make sure, though, that you are consistent with showing recognition to all employees by setting measurable and understandable standards for showing recognition. One way is to recognize employees on their anniversaries. Here are some ways to celebrate employee anniversaries.
Culture is a hot term right now in the business world and it’s last on this list because all of the above elements combine to help define your culture. The reason it has its own section, though, is because being intentional about culture can’t be stressed enough.
Companies like Zappos and Mailchimp are often commended for the knocking it out of the park with their company culture, and for good reason. But having an incredible culture that attracts and retains employees isn’t limited to large companies. Even small businesses can and should create a company culture that makes employees want to stay.
Two basic principles to culture are that it should focus on what makes your company stand out and it should be fun. Demonstrate why customers should choose you over other companies. Then have fun with it. No one wants to spend 20 years working somewhere where they are unhappy or bored. Your culture should combat that.
Start by defining your core values. What does your company stand for (and why)? Then create an environment, processes, and programs that exemplify your core values.
If you have trouble retaining employees, it’s probably because you are lacking one of the things above. ActionCoach can help you make decisions and changes that create a company where employees want to stay. Let’s start a conversation about how you can retain long-term employees.