Last Updated on March 6, 2024 by Dave Schoenbeck
The job marketplace is increasingly challenging to hire, and we cannot afford to lose our valuable associates. Fear of turnover catalyzes us to troubleshoot ways to retain our staff. Keeping the employees you have is vastly more economical than hiring new employees. It’s a competitive industry, so I’m here to share tips on retaining your staff and keeping them happy.
Competitive Pay
While not every employer can afford to give, above-market raises, one of the most common job satisfaction factors is the ability to earn competitive pay. Employees understand it isn’t just about the money; they must make a comfortable living. In addition, earning competitive wages makes your employees feel valued and keeps their interest from taking calls with recruiters and other competitive offers that might come their way.
Show Respect
Employees want to feel valued, and this area is becoming more critical. The younger generations want to be respected, listened to , and appreciated, often even more than they desire salary increases.
There is undoubtedly a demand for quality benefits (which can be a sign of appreciation). Still, there is also a call to listen to your employees rather than consider them just another body filling a position. Appreciated and respected employees tend to work harder and stay longer.
Flexibility
. Flexibility is perhaps one of the simplest things you can do to improve job satisfaction, and many consider it the future of work benefits.
Employees want to work from home when needed, have flexible working hours to accommodate their lives and families, and not feel guilty if they need to take off for something pressing.
In recent years, there has been a significant shift to allowing flexible hours, the ability to work remotely, and even unlimited PTO. This flexibility is often invaluable in how to retain your staff and keep them happy.
Build Trust
While trust is often difficult to build in the corporate world, small to mid-sized business owners have a distinct advantage. As a result, we can create a unique foundation of trust with our employees.
Trust works both ways. You need to trust your employees, and they must also trust you. Remember that trust is earned, so bring them in, ask for their collaboration, welcome them, and create a trusting work environment that can blossom under your mutual trust. You can influence this circle of trust by taking the first brave step yourself.
Set a Great Example
In the workplace, you are in control. But the last thing your employees want is to see you pouring demands on them while you spend your time out golfing and vacationing. So, as the manager, owner, or CEO, you should set an example for what you want to see in your employees. Fairness breeds a culture of integrity and authenticity.
Set the example for all things. Be the one in charge that builds a positive work experience. Be the manager that always says thank you. Be the manager that openly supports a good work-life balance. You get the idea.
Set an excellent example for a positive environment and a good work ethic, and allow your employees flexibility. Positivity is one of the greatest lessons in retaining your staff and keeping them happy.
If you want to know how to keep your best employees, it’s all about stepping forward and making a difference. I’d love to chat with you more about the topic. So please fill out my contact form, and let’s meet to figure out how to retain your staff and keep them happy.
Coach Dave
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