You're already short-staffed, and one of your top employees resigns. They’re leaving for a larger company that offers more pay, better benefits, and maybe a fancy office in the city – and you just can’t compete. If you’ve found yourself in this situation, you’re not alone.
According to "Great Attrition, Great Attraction 2.0," a 2022 McKinsey study of 13,382 employed people around the world, 40% of people plan to leave their jobs in the next three to six months. As older generations leave the workforce and new workers come in, people's expectations of their employers have shifted. Working parents, for example, may want more time at home and therefore turn to companies that offer flexible hours and remote opportunities. Meanwhile, Gen Z employees (born between 1995 and 2012) may be looking for a personal connection with the company’s mission.
As a leader, your objective is to hire and retain the best talent. And being understaffed can put pressure on your current employees, leading to stress and, ultimately, burnout. If an employee burns out and is unable to perform, their teammates have to pick up the slack. That’s why it’s essential to have an employee retention strategy that keeps your employees engaged at work. Here’s where to start.
Build an Employee Brand
Employees want to work at a place they’re proud of. That’s where an employee brand can help. Unlike an employer brand, designed to help you recruit new talent, an employee brand helps remind your employees why they should stay.
An employee brand is about getting your employees on board with the mission, values, and vision of the organization. Establishing an employee brand can be as easy as sending a monthly newsletter that includes insights into the company’s progress, work within the community, sustainability efforts, or volunteer opportunities.
The employee brand is designed to remind your employees why they’re here. Investing in your employee brand is just as important as branding your products and services. Employee branding is usually driven by your human resources department with help from your internal communications team. You can also hire consultants or an agency to help.
If you go with an agency, make sure they specialize in employee and employer branding and that their expertise aligns with your company mission, vision, and values. For example, at my branding studio, Tote + Pears, we specialize in helping companies connect with women and other overlooked audiences so we work best with companies that have people-first values.
Create an Engaging Company Culture
Once you have an employee brand, the next step is to make sure you’re living it out with a strong company culture. Company culture is about the way your employees feel while working at your company. Employees who feel closely aligned with their workplace's culture are more likely to feel a sense of belonging.
When someone is sick or on vacation, do they feel comfortable taking time off or are they pressured to return to work? When employees have questions, do they ask their co-workers and managers for help? Are kids allowed at the holiday party?
Your employees want to be part of what you’re building, and creating growth opportunities is key to keeping them engaged. When your employees grow, so can your business.
An engaging company culture requires dedication and a willingness to listen and improve. At Tote + Pears, I make sure my employees know they can reach me any time through any channel – phone, messenger, or email. My door is always open. We also encourage our employees to include their families and children in all activities and make it a point to tell them we value them.
Every company’s culture is different, but when you’re intentional about the tone in the office, your employees take note.
Be Intentional When Onboarding
Building a successful business requires understanding the impact of new hires. A good hire can brighten the office, bring teams closer together and contribute to a vibrant and healthy company culture. So, you want to ensure you’re recruiting people who are a good match for the organization and can contribute positively to your company culture. This could mean 360-degree interviews where the candidate meets the core team before you bring them on full-time, incorporating lunches into the interview process so you can get to know the candidate in a relaxed environment, or a trial period so you can see how they interact with your team.
Once you’ve hired them, set them up for success with a comprehensive onboarding process. Onboarding might include pre-recorded videos on your company’s values and ethics, learning modules on work-related processes and software, a buddy system, and brief one-on-one meetings with their manager. A welcoming onboarding process can ensure that new employees feel confident in the business and are set up for a productive tenure at your company.
When you’re looking to maximize employee engagement, intentional recruiting and onboarding is a good place to start.
Create Growth Opportunities
Your employees want to be part of what you’re building, and creating growth opportunities is key to keeping them engaged. When your employees grow, so can your business.
Consider creating a growth plan for each of your employees and sharing it with them. Doing so lets them know not only that there are options in the company, but that you’re investing in them – personally and professionally. Building their skills can help keep them motivated on the job and deter them from looking for opportunities elsewhere. It can also help ensure you have a pipeline of qualified employees to help your business grow.
Building a great business that successfully retains its employees is possible. But it does not happen overnight – even for the world’s leading companies. By taking intentional action, you can optimize your talent retention and recruit better employees who stay with you over the long term.
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