For every talented employee recruited, an employer invests considerable time, effort and resources to bringing them on-board, says Greg Guilford from HR Solutions. Understandably, employers want to keep these talented workers for as long as possible and employee retention has become one of the key HR issues faced by businesses today. Given that, young employees often move jobs frequently, the rate of employee turnover can reach shocking levels. So, in today's competitive market, employee motivation is crucial for successful staff retention. Creating a motivated and satisfied workforce ensures a good bottom line and avoids losing a talented workforce to competitors.
Reasons why staff resign
Staff leave their jobs for a number of reasons and sometimes nothing employers can offer can make them stay. They might want to change industry, or their domestic situation has changed or perhaps they want to relocate. But often employees resign due to a lack of promotion opportunities, poor morale, better benefits offered elsewhere, or they just don't feel inspired by their work.
Motivation is key to staff retention
Paying staff their wages alone might not necessarily keep them motivated and committed to staying with your organisation. Employees feeling valued and a key part of the business, create a positive and motivated environment for everyone. You may have spent substantial time and money in shaping your company's vision and values. But you need staff to feel motivated to perform their part in the business plan and to guarantee overall success.
Job satisfaction feedback
Businesses should always look for ways to improve and that includes staff job satisfaction. Regularly ask for staff input and encourage them to suggest how they might improve their performance. This can make them feel valued and cared for on a personal level. Ask employees for their input on how the company could improve too. But you must also show you listen to staff by implementing some of their suggestions.
Opportunities for progression
If you've recruited some talented people to your company, could you offer them opportunities to advance? Employees who feel they can grow and develop professionally will appreciate their employer’s confidence in their abilities. And importantly, they’ll l feel less inclined to leave. When you show your staff that you believe in them and that they are your most important resource, it should provide a more positive working environment for everyone and result in a considerable decline in employee turnover.
Remember, for every employee who leaves, many others might want to do the same. They've just not acted on it yet. So, for the long-term future and success of your company, recruiting the best people isn't enough. Once on board, you must focus on how you can make sure they stay with you for as long as possible.
Greg Guilford is CEO at HR Solutions