It’s a candidate driven market at the moment, once again. – meaning that there are more opportunities than there are desirable candidates, which equates to candidates being spoilt for choice when it comes to career moves and earning opportunity (if they have the right skills and experience). Unfortunately, employers think that showering employees with benefits and raises will increase their tenure with the company – which is expensive and unrealistic. Fortunately, there are lots of things you can do to keep your best employees without throwing money at them.
1. Get to know the people in your company
Whether your employees work full or part time, they are spending a large chunk of their time in the office when they most likely want to spend more time with their friends and family. One resolution is to become an extended version of their friends and family by getting to know them on a more personal level. The more you engage with your team and genuinely care about them the more inclined they are to stay with you.
Communication is key for everyone – no one wants to work in a company where all they talk about is work. Give people the chance to get to know one another by allowing chit chat every now and again! Ideas and innovation only happen when people communicate, not when they are sat along staring at a computer screen.
3. Give recognition
When someone achieves something, whether it’s something big or small, recognition should always be given. We’re not talking material recognition – we mean something as small as a note, an email or telling them ‘well done’ face to face. It’s the little things people remember and by letting people know they have done well enhances that feel good factor which contributes to people staying with you!
Free food, travel and unlimited days off are some of the costliest benefits modern day companies are offering and for a start-up or even large corporation they seem unrealistic to put into the budget – lucky for you there is one free benefit that is on the top of most people’s wish list. Flexible working is something that benefits everyone and can even increase productivity and motivation. If flexible working isn’t something that your company can offer ask your employees what they would like to see as a benefit within the company and try to implement some of the suggestions.
People want to learn and self-improve (and if they don’t you have the wrong team). Don’t expect people to up- skill in their own time – offer them the opportunity to learn within the company. Let people spend time in different departments, work on peer to peer learning or even put on some workshops yourself.
Take the time to listen to people’s feedback about changes or improvements which could be made. By listening it reinforces the value of what people are saying, even if what their saying cannot be put into practise. You cannot possibly know what people want without asking and listening.