Want to Retain Your Employees Forever?
I said No Way to a headline reading “Retain your Employees Forever”.
One article at Harvard business Review-Blogs called “Five Ways to Retain Employees Forever” by David K. Williams and Mary Michelle Scott. They quoted some stats that should have employers losing sleep! They say 40% of workers are planning to look for a new job in the next six months and 69% say they’re already passively looking. Yikes!
I’m a Recruiter – I want to know – How do employers retain their employees forever. Is this something I don’t know? Why are employees leaving their jobs? Yes, some employees move for opportunity and some move for a salary increase. But I’ll argue that number in the real sense is quite small.
My experience is different. I’ve tried prying even crow-baring good candidates away from their current employer. If they are happy it’s impossible. I carrot-stick more money, more opportunity and it makes no difference. They won’t make a move because they say “I’m happy here” and “my employer is good to me”. Employees won’t leave good jobs! Good jobs mean a job they love – even if they could earn more somewhere else.
I ask “couldn’t you be happier over here with another 10K+ in your pocket?” and “you’ll get ahead faster in your career” and get told “my manager listens to me” and “we have a really good team here” and “I enjoy coming to work”.
Over and over again I hear that job satisfaction and job longevity aren’t tied exclusively to money and opportunity.
What can Employers do? Employers can proactively establish a culture that creates employee longevity.
The article “Five Ways to Retain Employees Forever” suggests the “5 R’s” of employee relationships are:
“1. Responsibility. Show your employees you trust them by giving them responsibilities that allow them to grow. Encourage them to gain new skills. Provide ample continuing education opportunities. Hire from within wherever possible, and give generous promotions at appropriate times.
2. Respect. Employees want to know they are respected and appreciated. As the saying goes, people may readily forget the things that you said, but they will always remember the way you made them feel.
Many workplace legends are built around the horrific things weary and stressed-out managers said or did. But if managers make it a priority to show outward respect for employees on a regular basis, it will lead to a strong and enduring workplace culture as well as positive experiences and memories that they will never forget.
3. Revenue-sharing. Tie a part of your employees’ wages to the company’s performance. This will align their interests with the company’s revenue and profit goals and will serve as an inherent incentive to stay with the company as it grows.
By making the fixed cost of payroll inherently more variable under differing business conditions, you can make your company more resilient and agile, while also treating your employees exceptionally well.
4. Reward. The rewards you give your employees should speak to their emotional needs and should go beyond their monetary compensation. Recognition in front of the company, company and department parties, service projects, lunches with the boss, logo clothing, handwritten notes, etc., can all contribute to the positive culture of the company and can be good morale builders as well.
5. Relaxation Time. Be generous with time off. Despite the hard economy, provide enough time for sick days, family vacations, new babies, etc. Pacing workflow can be highly beneficial to enduring employee relationships. You should expect and even demand high-quality performance, but it is unreasonable to expect a continual level of pressure at 100 percent. Allow employees the chance to catch their breath from one assignment to the next with the help of team-building activities or mini break periods over the course of the day.”
Employees – what do you think? Could an employer retain you forever? Or are you still thinking about leaving your job?
What do I think? Amen!! Happy employees promote business growth, stop high turnover of employees leaving and business growth means more hires! I’d rather have business from business growth than high employee turnover any day!