Sunday, February 26, 2012

Ten Fundamentals to Successful Employee Retention


Stability and Comprehension
These are major factors in employee satisfaction. This means that an employee should have a good understanding of their responsibilities from one day to the next. A chaotic work environment in which the employee is forced to take on a variety of changing responsibilities from day to day is guaranteed to drive stress levels up, remove any sense of security, and reduce job satisfaction. While some change and the delegation of new responsibilities can be a good thing, it should always be done with a degree of consistency within a framework so the employ always has a clear grasp on what is expected of them.

Quality Supervision
In order to feel a sense of value and to maintain a clear understanding of their duties and performance, an employee must receive good, constructive supervision from their superiors. Without guidance employees often complain that they lack clarity in what is expected of them, that they don't receive any feedback on their work, and that there is no structure to their job. Good supervision provides all of these things and more, and is crucial to making sure an employee is satisfied in their position.
Communication
One important factor in making your employees feel like a valuable member of the company is to allow them to speak openly, giving their opinions, offering feedback, and contributing ideas in any major decisions. People like to have their opinions heard and allowing your employees to contribute theirs is a sure way to make them feel a sense of importance and value within the company.
Skill Utilization
Different people have different skill sets and enthusiastic employees will want to be able to apply these various talents to help benefit the company in any way they can. By making yourself familiar with your employees and their abilities you will be able to help them put those skills to good use even if it's outside the range of the individual's normal job description.
Fairness
Fair treatment is an incredibly important to employee retention. If an employee feels they are being unfairly treated then this will be seen as a perfect reason to seek opportunities where they will be treated better. This can be as simple a matter as overlooking the contributions of a dedicated, hardworking employee in favor of another.
Handling Failures
If one of your employees is failing in their duties, the first thing you need to do is ask what it might be about causing these failures. More often than not these issues arise from a few simple places such as a lack of time or training, or inadequate resources. In order to be successful in their position, an employ needs to have all the proper tools, training, and time to get the job done. Without these things, and faced with continual failure, an employee is almost guaranteed to leave.
Training
One of the simplest ways of keeping your employees is to offer them opportunities for continual growth and advancement within your company. Nobody is happy in a stagnant situation, and without stimulation you can be sure you're going to lose some people. By offering employees training opportunities you will be increasing their value within the organization as well keeping them motivated and gratified in your company.
Acknowledgement
Far too often employees make the complaint that they don't feel like they are even noticed by their supervisors. This can be fixed simply enough by setting a bit of time aside now and then to meet with and get to know each of your employees individually. This can give you valuable insight into the health of your organization and the skills and wellbeing of your employees.
No threats
Never, under any circumstances, should an employee's income or job be threatened as a means of punishment or motivation. Even if these issues are a direct and present possibility to result from some certain issue, never should this information be suggested to the employee or you can be sure they'll start updating resumes and going on the job hunt. While impending layoffs should never be kept from your employees, neither should it be provided in such a way as to scare them all into running.
Reward
One of the most important things you can do to help keep your employees around is as simple as rewarding their success. An employee who feels underappreciated isn't likely to stick around. While some successes are their own reward, acknowledgement of those successes by the company will make an employee feel valuable and encourage them to strive for success in the future. Rewards can come in many forms. A simple thank you can go a long way, but gifts, bonuses, and raises can go a lot further. Annual bonus calculated on the employee's contributions is an easy and highly motivating means of retaining your best employees.

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