Getting People in the Right Roles: And Keeping Them There
Employee retention is one of the most important aspects of a manager’s job, especially in small businesses. It’s not only crucial to get people in the right roles but to also keep them there. Employers should first assess what they can offer their team in order to keep them satisfied in their roles as well as understand what they want from their jobs. Once employers know what is important to their employees, they can work on creating an environment where they feel challenged and also appreciated.
1. Offer Competitive Salaries
Offering competitive pay can significantly help to attract and retain top talent.
Money is always a big motivator, especially for younger generations. If you want to keep your best employees, you need to make sure that their salaries are competitive. You don’t have to offer the highest salaries in the market, but you do need to make sure that your employees are being paid fairly.
Inflation is at its highest levels since the early 1980s, so this is especially important to keep this in mind.
According to Zumper, a leading indicator for the direction of inflation in a market is asking rent. Zumper’s February National Rent Index shows the median one- and two-bedroom rents hitting new all-time highs at $1,393 and $1,708, respectively. It’s important to keep in mind what it takes to provide a decent/good living for oneself right now when setting salaries.
2. Allow for Flexible Working Arrangements
The 9 to 5 workday is no longer the norm.
Your employees want the ability to work from home or take time off during the day to take care of personal matters. If you can offer flexible working arrangements, your employees will be more likely to stick around.
Easily make the switch to hiring remote workers by using Arvo to document your processes and share them with your team in seconds, no matter where they’re located. This gives employees the tools they need to succeed and employers peace of mind knowing their team is equipped to complete the necessary tasks for company growth.
3. Give Employees Opportunities for Growth
People value professional growth just as much, if not more than personal growth.
Most people want to know that they have opportunities for professional growth and advancement with their jobs. They want to be able to grow their skills and move up in the organization. If you can provide your employees with a way they can enhance their skill set, they will be more likely to stay with you longer.
Make sure your team has training resources.
Have you ever tried a DIY project or building a new piece of furniture without reading the instructions first? How did you feel? Frustrated we’re sure! Employees also want to be able to learn and grow their skills. They want access to training and development opportunities. If you can provide them with the resources they need to grow, they are more likely to stay with you.
4. Recognize Employee Achievements
Employees love recognition.
When they do a good job, they want to know that their boss noticed. Employee recognition doesn’t have to be anything big. A simple “thank you” can make an employee feel appreciated. If you can reward their hard work to learn and grow with company advancement, you can typically secure their place in your company even longer.
Retaining employees is important for any company, but it can be especially challenging for small businesses. If you want to keep your employees happy and engaged, make sure that you offer competitive salaries, flexible working arrangements, opportunities for growth, and recognition for employee achievements. Additionally, provide your employees with access to development resources so they can continue to learn. Employee retention is a critical part of any manager’s job. By understanding what employees want and providing them with the resources they need, you can make sure that your best employees stay with you.