As an employer, you know your company is only as strong as your team. Attracting top talent is a key piece of the puzzle, but keeping those people happy and employed in your company is another entirely. Retaining high-quality employees is a priority for modern business owners, and putting your company on the right track means focusing on retention efforts. Use these tips to keep your business chock full of fantastic team members.
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Hire the Right People from the Very Start
The best way to keep great employees? Hire great ones from the very start. Take some time to look at your hiring processes; are you putting the right people in your open positions? If you’re failing to place the appropriate candidate in your open roles, it’s likely that you’ll see higher rates of turnover. Take a look at your hiring procedures to ensure you’re properly vetting candidates before they sign onto the team. Also be sure to run thorough background checks to ensure every candidate you take on is a safe and worthy addition to your roster of employees. You can use a third party screening company to complete this, but keep in mind that these companies can take weeks to vet a candidate. Many small business owners opt for online screening solutions like ShareAble for Hires, as they’re quick and relatively inexpensive while providing the information needed to make an educated hiring decision.
Create an Onboarding Process
From the moment your new hire joins the team, ensure they’re given the appropriate attention. Don’t sit them down at their desk and leave them to it; monitor their daily work and slowly but steadily introduce them to all aspects of the business. Creating a detailed onboarding process guarantees every employee is given the proper jumping off point. Their first week should see them meeting colleagues, learning about company procedures, and discovering all the resources available to them. Speak to current employees and get their feedback on ways the onboarding process might be improved.
Foster Employee Engagement
Do your current employees feel connected to the company as a whole? It’s important to ensure each member of the team feels valued—like their work makes a difference. Emphasizing the importance of employee engagement can help ensure every member of the team understands the way their efforts impact the business. Take note of hard work and exemplary efforts, and reward them in kind. When failure occurs, help an employee glean the important lessons that failure imparts. The more connected your employees feel to their colleagues and the business, the longer you’ll keep them.
Maintain a Regular Review Schedule
You’ll want to regularly check in with employees to ensure they’re performing at the optimal level, and more importantly, that they’re happy in their position. Don’t wait for a yearly review to check how things are going with members of your team. To retain employees, you need to ensure satisfaction—the only way you can do that is by dealing with issues as soon as they arise. This can be accomplished through regular review meetings; a check-in meeting once or twice a month can help your employees feel heard, and a formal review process every three months can reward fantastic work on a more frequent basis. Use a service like ClearCompany to combine all of your employee review processes into an automated solution.
Offer Employees Ways to Excel
Investing in your employees benefits them as individuals and your company as a whole. Offer education opportunities for employees to further hone their skills and expand their capabilities. This can help avoid stagnancy, and further your team members’ professional development in ways that keep them challenged and happy in their role. When people feel accomplished and have an opportunity to grow, they’re more likely to feel good about going to work every day. This can improve morale throughout the company, which can further improve retention rates. If your employees feel supported professionally (and personally), they’re more apt to be engaged and accountable for their work. Consider sending top-performing employees to relevant conferences, and foot the bill for their travel and accommodation expenses. If employees find classes they’d like to take, offer to purchase those courses. In the end, how you invest in your team is up to you, but the right investment strategy can pay dividends.
Keeping employees happy and engaged in your business is a surefire way to increase productivity and improve profits. Use these tips to your advantage and make a difference in employee retention rates.