The last few years have been a rollercoaster when it comes to employee security and company turnover. On the one hand, we’ve seen the Great Resignation, on the other, rounds of layoffs. Even in uncertain times, employee retention and maintaining low turnover rates manages to be a top priority for many companies. Many in leadership assume that a competitive salary is enough to make a difference in employee retention. Studies show, however, that employers need to take a comprehensive approach to keeping their best employees happy in other ways.
Inc.com has a great new article with three suggestions for these comprehensive measures. The first centers around building trust among employees and management/leadership. Cultivating an environment in which everyone feels heard is essential to building this trust. If an employee feels as though they are not being heard, as though their ideas are not valued, that employee is much more likely to seek a more supportive and trusting environment.
The second tactic is to promote community by holding employee-led events. These differ from the traditional team-building exercises in that employees are able to promote something that they are passionate about. Whether it be weekly yoga sessions, daily meditation breaks, or annual events that are important culturally such as Pride celebrations or International Women’s Day; when employees can share their passions with the team, everyone grows together as a community.
The third strategy is something that some businesses are learning about the hard way. One thing that we have seen from the COVID pandemic is that employees are largely demanding more flexible schedules. This is especially important if that employee is a caregiver to someone outside of work (children, aging parents, an ill relative, etc.). Those who have to keep working once they leave the office (or clock out if they work from home) need more flexibility with holiday time to actually feel like they are able to take a break. The more flexible a holiday schedule/PTO is, the better employees can support their own individual needs in this area. Check out the full article here for a deeper dive and in-depth examples from companies across the country.
