One of the most commonly overlooked factors needed for long-term health and success in your business is the ability to keep your talented employees on board. Don’t be worried about losing a key employee. Read on to discover employee retention ideas that will keep your staff happy.
CEO’s and top-level Managers around the world agree that employee retention is critical to success. After all your best employees are the ones on the front line ensuring customer satisfaction and making product sales. Key employees always have a wealth of deeply embedded organizational knowledge and learning, which they’ve accumulated over their years of service. This is one of the many reasons it’s a huge loss to lose an employee.
Here are ten helpful retention ideas from Pathwwway Panama to add to your arsenal that will enable you to improve your staff retention rate in the sales industry.
- Clear Expectations
Management experts all agree on one simple golden rule: that a satisfied employee is someone who knows exactly what is expected from him every day at work. Managers who constantly change expectations of employees create unhealthy stress in their staff and make people feel ‘on edge’. Employees lose their internal security and ultimately will feel unsuccessful in their work and eventually these emotions will cause your employee to jump ship.
Of course, roles and responsibilities don’t need to remain static but it’s helpful to design and create specific frameworks so that people can clearly see what is expected from them.
- Hire Great Managers
People don’t leave Jobs, they leave Managers or Supervisors. Within management consulting industry its common knowledge that the quality of the supervision an employee receives is critical to employee retention.
Supervisors and Managers have a critical role to play in employee retention. Anything the supervisor does to make an employee feel undervalued will contribute to turnover. Lack of clarity about expectations, Lack of clarity about earning potential and Lack of feedback about performance are just some of the most frequent reasons that people cite in exit interviews.
Make sure your middle management are aware of the most frequent employee complaints that lead to employees leaving.
- Embolden your Employees
A key factor to securing high employee retention rates is to design an employee-focused working culture at your organisation. It’s important to create a culture where your employees feel comfortable freely speaking their minds, whether that’s in a positive or negative light.
This is beneficial in two ways, Firstly, your employees are a great resource to give new ideas or to critique of processes and systems. Secondly, this environment will make your employees feel comfortable, valued and open to talk about problems rather than biting their tongues.
- Encourage Their Growth
Your highly motivated employees will eventually seek to learn new things and use their talent and skills in new ways in the workplace. Driven workers who are inspired by their work will no doubt want to contribute outside of their specific job description. A problem occurs when Managers don’t know how to handle their employee’s ambition and interest. Managers usually end up ignoring these types of requests, leaving employees disheartened.
One of the most rewarding retention ideas from Pathwwway Panama that can have direct benefits is letting your employees spread their wings on projects that utilise their talents within other areas of your company.
- Be open, fair and equal
The perception of fairness and equal treatment is critical in employee retention rates especially in sales where there can be lucrative commissions on certain accounts. If management is perceived to be giving one employee all the best accounts then the morale of the whole team will plummet. In severe cases this kind of favoritism, whether real or perceived can lead to your team members being so hurt that they begin looking for pastures new.
With this is mind it’s wise to be as open as possible with your staff. Make sure that middle managers are being as fair and equal as possible as well as being aware of the whole team’s feelings.
- Most retention problems are easy to solve
When an employee is failing at work you need to ask yourself, “What about the work system is causing the person to fail?”
If the employee is clear on their role and what is expected of them, then the answer is more often than not: time, tools, training, temperament or talent. These issues are usually very easy to solve especially: tools, time and training. Your employee needs to have the necessary means to do their job well – or they will move on to an employer who provides the adequate resources.
- Plan Growth Opportunities
Career-oriented people, not surprisingly, make great employees. However some Managers can find their frequent requests to learn and grow difficult to manage. Without these opportunities to challenge learn and grow, driven employees will stagnate and their eyes will wander to other companies who offer more room for growth.
Your valued and motivated employees need to experience growth opportunities within your organisation make sure to plan out growth opportunities for them during their annual review.
- Know your Staff
“I felt like senior management never knew I existed” is a common complaint during exit interviews. No matter your position in an organisation make sure you meet with new employees and learn about their talents.
Try to meet informally with your staff regularly, even if it’s just making small talk at the water cooler! This is one of the easiest retention ideas to implement and its critical to help your employees feel welcomed, acknowledged and loyal.
- Never threaten an employee’s job or income.
It’s a big responsibility to be in charge of people’s livelihoods, but no matter the circumstances never threaten your employee’s job or income even if you know that layoffs are inevitable.
It’s a huge mistake to foreshadow this information with employees as it will only make them nervous, no matter how you phrase the blow.
- Make sure your staff feel rewarded, recognized and appreciated.
This is quite possibly the most important of all the retention ideas listed. You’ll have success retaining your staff if they feel like they are rewarded, recognized and appreciated. Frequently saying thank you goes a long way, monetary bonuses make the thank you even more appreciated. Transparent raises that are tied to accomplishments and achievement will also help retain your staff.