How do you retain staff?

 Retain Staff

How do you retain staff?

Many companies only approach staff retention during disruptive periods of organisational change by throwing financial incentives at senior executives or star performers. Most companies rarely balance their money spend well or have the knowhow on employee retention allocation. Many recent studies on employee retention show that employees would have stayed at their respective companies anyway, whilst also pointing out that others have concerns that money alone can’t address the issue at hand. By focusing exclusively on star performers, companies often overlook those normal performers who are also critical for the success and change in the organisation.

Continuous attention and timely communication helps employees make sense of their work environment throughout the year. Employees need clarity about their future with the company and creating that clarity requires significant hands-on effort from managers, including the on going work of tracking progress so that companies can quickly intervene when problems arise. On going programmes such as peer nomination are geared to motivate all company employees as it allows recognition from your peers whom are more likely to notice the little things. It is also a great motivator and creates a team building atmosphere of learning from one another.

Companies who introduce employee incentive programs see an increase in efficiencies and productivity among employees. Employee incentives needn't break the bank, and the benefits are numerous; boosting morale through engagement and reward; stimulating productivity; and encouraging a collective participation resulting in staff retention.

Tags: Employee Rewards, Reward and Recognition , Staff Incentive, Employee Engagement, Employee Motivation, Rewards Fulfilment

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