Improving employee retention and motivation can be one of the most significant factors in your business’ growth potential.
Investing in Growth: Professional Development as a Retention Game-Changer
Companies want to learn how to improve employee retention and motivation because your people are your biggest asset; keeping good talent can significantly benefit the company. If your employees can perform their jobs well, your best return on investment is in keeping them happy and motivated, so they’ll stay. Constant turnover is bad for your business and the morale of the team members who stay with you. Knowing how to improve employee retention and motivation starts with measuring your baseline.
Measuring How Your Employees Feel
It can be almost impossible to predict when an employee will quit. Some employees make their intentions clear: they may state they won't be able to stay if they can’t have a specific salary increase. Other employees may tell you that the ability to work remotely is a deal-breaker for them. With these types of employees, you can weigh the pros and cons of them leaving and have the option of taking action.
Most other employees, however, need to be more transparent with their intentions of leaving. Some may be job hunting for months without you knowing; some may be poached by a company that makes a more appealing offer; others may go if they feel burnt out, hoping to take some time off before they start a new career path.
The best way to combat the surprise of employees leaving your company is to find out how happy they are. While this can be fairly complex, partnering with the right experts can make this far less burdensome for your team. Armed with detailed, accurate, and actionable data, you’ll get a deep understanding of how your employees are really feeling about their jobs.
Why Employees Leave Jobs
The increasing employee turnover rates have made news for a few years now. One of the most asked questions is why are these employees leaving? Is it for more money? Better work-life balance? A job with a mission they value more?
Of course, there are dozens of reasons an employee may leave a job, but among the most cited reasons are:
- Wanting more of a challenge, a new position, or a clearer company vision
- A higher salary or a more financially secure company
- Feeling a lack of recognition, independence, or feedback
- Looking for a place where they are valued or inspired
How to Keep Employees Happy
Although it’s clear that there are many different reasons employees leave, it is not impossible to take meaningful steps toward making them more happy at work. The first step is to recognize that you are not a mind-reader and are not expected to be. There’s no reason to try to “fix” every potential reason an employee might leave.
Instead, put the right resources into finding out how your employees feel right now:
- Are they happy?
- Do they feel empowered?
- What are they happy with?
- Who is happy?
- What can you do to increase their happiness?
Actionable steps must start with data, which is where Amazing Workplace comes in.
Employee Retention vs. Hiring New Talent
Retaining good employees is almost always less costly than hiring new ones. Hiring involves many events, from defining the role to recruiting and onboarding. While it makes sense to replace an employee who is not working out, it’s more favorable for your company and existing team when you can retain an employee who is a true asset.
Unlocking Employee Retention: Strategies for a Thriving Workplace Culture
Amazing Workplace is the best resource for improving employee retention and motivation. Contact us to start with a demo of the tools available to see what it really means to understand how your employees feel.