How much are your employees worth to you?
Did you know that it costs employers approximately 33% of an employees’ annual salary1 to replace them? As an employer, isn’t it in your best interest to empower your employees and keep them?
So, what do employers need to do to keep their employees?
One of the key factors would be to improve communication in the workplace. You can’t know what is going on with someone unless you ask them.
Aside from the annual performance review, maybe do 6 monthly reviews asking for honest feedback on an employees’ job satisfaction and the workplace as a whole. You never know what you might find out.
Initially it might be hard to hear some of the feedback that comes back to you, but you want to be operating in an environment of improvement. Moreover, give permission for people to speak freely without having them feel that they are going to be penalized or judged harshly on their opinion.
An employees’ candid insight might highlight areas where there are problems.
While not all feedback will be relevant, consistent indicators of problems need to be addressed.
For years, employers have looked the other way in the face of bullying, harassment and other negative workplace practices. It’s time for that to stop.
If you want to be more successful, you need to be looking at ways of making things better.
In the words of OIiver Cromwell, “He who stops being better stops being good.”
If your employees are happy, then that is going to flow on to your customers. The efforts that you put in with your employees will show in your bottom line. When someone loves where they work, they will put in more effort. When they are shown trust and respect it shows in their work ethic.
Empowered employees create empowered customers. Empowered customers want to spend money with your organization.
Ultimately it is about the bottom line and the cost of consistently losing employees will affect your business profits and morale. After all, who wants to stay in a sinking ship?
Are you offering your employees the opportunity to enhance their skills? Is their work meaningful to them?
Give your employees a chance to improve themselves.
Can you give them more responsibilities, as they are ready for them? Are you able to offer additional training to increase their skillset?
What is your workplace culture like? Do you have social functions where employees get to enjoy connecting in an informal setting?
Perhaps organizing a family day in the park where everyone gets to meet an employees’ family? We look at people in a different light when we see who they are not just in the workplace.
Think about the TV show Survivor, in the part of the episodes where the survivors get letters from home and one lucky recipient gets to bring their family onto the show. We look at that person in a whole different light. The same applies with social functions and as such they can improve workplace morale.
What is your work environment like for work/life balance? Are employees able to work from home or change their schedule when they need to?
Where possible, put together a system where employees can manage their time and not restrict them to set hours. They still need to put in the required amount of hours per week, but allow them some latitude to accommodate their other commitments.
In this way, your employees will feel more empowered and feel happier in coming to work.
Less employee turnover means less stress for other team members as well.
Whenever an employee leaves, other employees often have to take up those important tasks that still need to get done.
Customers also appreciate consistency. It gives them peace of mind when they have a reliable, regular person that they are dealing with. It also shows them that your company is a great place to work.
As an employer you need to balance the needs of the workplace with the changing needs of your employees.
Making some adjustments in your workplace will keep employees satisfied and empowered. Regular departing employees will be one less stress that you don’t need to worry about on an already full plate.