How To Retain A Great Team
If there is one thing that your business needs, that is people. Having the best employees at the heart of everything that you do can make the difference between success and failure. But when it comes to getting staff in to do the job, you will want to know that anything that you put into their training and development will not be wasted if they choose to take their skills elsewhere. Staff retention is something that every company should keep in mind. Although some companies have honed their business model to a point where it doesn’t matter who is doing the job, as long as someone is; having an approach to your business that appreciates the members of your team will ultimately save you money in the long run.
There are many ways that you can improve staff retention in your business, and this is something that you should develop a strategy for as, in most cases, poor retention can be costly. You can calculate the ROI of performance management software in order to understand the true cost of hiring new staff has on your business, and the difference in spending more time on your team can help. Here are a number of ways that you can improve the retention of staff in your business.
Make Your Business Somewhere That Staff Are Appreciated
If you create a happy place for people to work, then they will want to work there. You can do this by ensuring that everything is dealt with in a positive way. Have all of your management teams learn how to give positive reinforcement. Encourage them to thank their workers as many times as possible throughout the day.
Know-How To Incentivise Your Staff
Everyone is different, and you should be finding as many ways as possible to motivate your staff. Work out what types of incentives your teamwork well with, and create achievable targets that will provide them with the opportunity to earn something extra. This may come in the form of a cash bonus, vouchers, time-off in lieu, or in other prizes. You may need to mix it up, and make sure that it is inclusive and not something that is designed for just a select few to achieve.
Encourage Growth And Development
Every few months you should sit down with your team members and review their performance. Make sure you focus on the positives, and where improvement is needed; that feedback is constructive and supportive.
If your staff can progress in any way, this will motivate them to stay. This may mean the opportunity for progression, either through promotion, or additional responsibilities. Reviewing your team members’ pay is also going to help them to want to stay too.
Pay Them What They Deserve
Everyone deserves to earn enough money that they can survive. Often, the minimum wage does not really cut it in terms of providing a suitable livable income. By providing an income that shows your staff that you respect them and that you care for them, you are likely to be able to keep them.