Staff retention strategies
May 23, 2010
STAFF retention strategies are not costly. However, they require thought, effort and time. It is relatively easy to justify staff retention programmes when you know the losses incurred through staff turnover.
Insight with Paula Kyabaggu Mukama
STAFF retention strategies are not costly. However, they require thought, effort and time. It is relatively easy to justify staff retention programmes when you know the losses incurred through staff turnover.
The initiative is a low-cost and represents a considerable return on investment. Every ‘thinking’ business should invest in strategies to retain its staff because it is an economically-sensible approach.
The factors affecting staff retention are simple, but must be managed carefully. Income is only one of the many aspects of staff retention. However, paying higher wages has proved to be a limiting strategy.
Other strategies include effective leadership which is absolutely necessary to create a stable workforce. It is the single most important factor in determining staff turnover.
However, effective leadership is rare.
People get leadership positions without any training and are expected to be effective. But the sad fact is that most of them fail.
Sense of involvement. A lot of people need a strong sense of involvement with the business in which they work. Because the workplace is a social environment, people do not want to be treated just as a number. Most of them enjoy belonging to a team and participating in teamwork.
Recognition, which contributes to the sense of involvement.
Acknowledgement of a job-well-done and specific information of why the performance deserves your special attention is a good form of recognition. Motivated contributors are proud employees.
A comprehensive and effective induction process. There is a clear link between the quality of the induction process and staff turnover.
Companies that retain their staff have an effective induction process.
Therefore, it seems sensible as part of staff retention strategies to include an effective induction process.
Clear expectations of performance. Many organisations do not clearly lay out what they expect from their staff from day one. Expectations and performance become the topics of the conversation only when something has gone wrong.
Feedback on performance. When feedback is provided, it is much easier to share goals and targets. There appears to be a strong need for people to know how they are getting along.
One of the ways to meet this need is to provide regular and relevant feedback. Feedback from customers has an extremely positive effect in creating an environment where the staff member is valued.
STAFF retention strategies are not costly. However, they require thought, effort and time. It is relatively easy to justify staff retention programmes when you know the losses incurred through staff turnover.
The initiative is a low-cost and represents a considerable return on investment. Every ‘thinking’ business should invest in strategies to retain its staff because it is an economically-sensible approach.
The factors affecting staff retention are simple, but must be managed carefully. Income is only one of the many aspects of staff retention. However, paying higher wages has proved to be a limiting strategy.
Other strategies include effective leadership which is absolutely necessary to create a stable workforce. It is the single most important factor in determining staff turnover.
However, effective leadership is rare.
People get leadership positions without any training and are expected to be effective. But the sad fact is that most of them fail.
Sense of involvement. A lot of people need a strong sense of involvement with the business in which they work. Because the workplace is a social environment, people do not want to be treated just as a number. Most of them enjoy belonging to a team and participating in teamwork.
Recognition, which contributes to the sense of involvement.
Acknowledgement of a job-well-done and specific information of why the performance deserves your special attention is a good form of recognition. Motivated contributors are proud employees.
A comprehensive and effective induction process. There is a clear link between the quality of the induction process and staff turnover.
Companies that retain their staff have an effective induction process.
Therefore, it seems sensible as part of staff retention strategies to include an effective induction process.
Clear expectations of performance. Many organisations do not clearly lay out what they expect from their staff from day one. Expectations and performance become the topics of the conversation only when something has gone wrong.
Feedback on performance. When feedback is provided, it is much easier to share goals and targets. There appears to be a strong need for people to know how they are getting along.
One of the ways to meet this need is to provide regular and relevant feedback. Feedback from customers has an extremely positive effect in creating an environment where the staff member is valued.