The Merry-Go-Round of Employee Retention

Do you feel like you’re on a merry-go-round where employees get on and off, but very few stay for long? If your retention is low, it is frustrating and can be very time-consuming and expensive as you have to retrain someone new, and the money invested is lost. 
Before you make your next hire, consider focusing on areas that impact the overall employee experience.

What's in it for them?

Do your homework to determine how someone in a particular role is compensated. It’s not just about the paycheck, as benefits play a large part in decision-making. And most people don’t realize that a solid benefits package could allow for a salary short of being competitive.

There are also other ways to up the anty for them:

  • Hybrid work environment (split time between the office and home)
  • Opportunities for personal and professional growth

Be clear about expectations.

It’s amazing how many employers glaze over what the job will entail. EVERY position in the company, no matter the level, should have a clear description of what the potential employee can expect. And part of the conversation should include the culture of the company. Are you in a more corporate setting, or do you support a more laid-back environment?

There is no right or wrong here. However, it’s essential to talk about it in advance, so there isn’t a shock. If someone doesn’t feel “at home” in the office, there’s a strong chance they will leave.

Do your due diligence when hiring.

The most challenging part of seeking qualified candidates is where to start.

  • You can utilize the job boards, which can be overwhelming as you’re forced to sort through hundreds of resumes that may or may not have the right qualifications and experience.
  • Or ask people in your network for recommendations.
  • You could reach out to an experienced staffing firm that knows how to drill down to the most qualified candidates. And they do the upfront interviewing to assess further, and the right firm will have the experience to see the difference between factual and fluff.

These steps are especially critical when hiring for leadership roles, as lower-level employees are more apt to leave if there is poor leadership.

Perform an "Exit" interview before it happens.

If someone leaves your company, there should be an exit interview to ensure you’re not missing something that can help avoid unwanted departures in the future. In some cases, if they’re leaving because they’re not happy, you may be able to talk it through, but that’s rare as usually there’s another career opportunity waiting for them by the time they’ve given their notice.

Talk to current employees about what they like about their job and encourage them to be open about what doesn’t make them happy. Before you have the conversation, set the guidelines that this should be a structured and professional discussion for continuous improvement, and they won’t face any consequences for being honest.

You can also use the positive data to share with potential employees and any negative data to investigate further.

Everyone in the company is essentially responsible for employee retention. Set the example by remaining professional and supporting an environment of open communication.