Disruptions due to the Covid-19 pandemic have up-ended most of what we take for granted as ‘normal’ giving birth to the term ‘new-normal’. This general atmosphere of uncertainty has caused us to look inward and focus on our personal health and safety and that of our families. People now give prime importance to family more than work, and want to be there to take care of their loved ones during tough times. In the employment sector, one effect of this new focus is a surge in resignations and a massive depletion in the workforce.
It is an employee’s prerogative to leave their company for whatever reason. Employee’s who wish to retain their stellar staff can always counter with an offer. However, studies suggest that its effects are short term. So, how can you stop the resignation surge and retain your star employees?
There is one answer: create an environment where employees want to stay. It sounds simple, but it is wrought with pain points. It’s hard to create an optimal work environment because the idea is subjective. What an employer sees as optimal, might not be so for an employee. There are many ways to create a better work environment, start by addressing these three concepts:
1. People over profit
Yes, businesses are built to make money. That is the essential idea and that is a given. What is being asked here is for employers to look at their staff as living, breathing individuals with unique capabilities and valuable contributions instead of profit generating machines. Businesses must find the sweet spot between achieving business goals and meeting work-life balance.
2. A mentally healthy environment
Let’s face it, the paranoia that we might be living out the end of days, while an extreme idea, is a huge factor in the surge of resignations. People will opt to be with family if they believe that their personal and family health and safety are at stake. Employers should create a program that assures their staff that health and safety is top priority. For some businesses, this could mean stricter adherence to health protocols or getting creative with their office layout. Businesses could also adopt flexible work arrangements or a hybrid staffing schedule. This could also mean hard stops and very limited overtime work to show respect for their employee’s time. And finally, the business can also create programs for employee health and wellness, such as paid wellness breaks or even something as simple as an employee portal where they can connect and share banter, tips, and stories.
3. Fair compensation
One reason for job burnout is working long hours for low pay. When employees feel that they are not justly compensated for the value they add to the company, they will burnout. A business must make sure that their employees are fairly compensated, otherwise, their top talent will pack up and leave.
These are just some of the ways businesses can improve their employee retention. What are your top employee retention strategies? Share them with us in the comments. Remember to work smart and be a blessing to someone today. Stay safe and healthy!
Written by Jaie O. TheHelp