Employee retention means creating an environment and working conditions that make it very difficult for the person to leave their position in the future. It is a great challenge for companies because it involves considering the team’s needs and knowing how to cover them on time.
Not all companies achieve this goal; however, they find that, after a few months, their employees decide to leave. If this happens, something is wrong. In general, if we are not achieving that retention of talent in our team, it is probably due to:
- Lack of compromise
- No corporate culture
- lack of feedback
- Few development opportunities
Adverse Effects of Lack of Employee Retention
Assuming that the employees who have left were not talented or did not contribute enough to the company, it leaves the organization in a continuous position of not helping develop the employees’ potential.
In addition, being unable to retain these employees implies significant costs to replace them. Since again you have to reapply recruitment or selection processes, it can even be a problem if what we are looking for is for our company to grow, because productivity decreases.
Many projects can be halted due to not having enough staff. The project times can change because we have to retrain those new employees. Also, there will be low morale among the staff, and consequently, it will cause a bad corporate image since they lose Potential brand ambassadors.
According to Mckinsey’s research, four factors are considered the most important when it comes to motivating and retaining our employees:
- A favorable employment contract
- Internal development of the company
- Create a feeling of belonging toward the brand and colleagues
- Stress management
But the point is that employees are becoming more demanding about what experience they have during their work life cycle. Therefore, companies must invest more in creating a good work experience and environment.
Applying key concepts of employee experience may be the answer to how to manage talent within the team. Team leaders, human resources, and the organization’s leaders must be involved in this process.
How to Achieve Employee Retention Through Employee Experience
An Onboarding that Makes a Difference
The employee’s relationship with the organization begins when the potential candidate knows the company. This is why taking care of the experience of said candidates is the first step to encouraging retention if they finally become an employee of our company.
We must involve all company members in this process and thus create an onboarding strategy through the employee experience methodology.
Good trainers make workers achieve autonomy and independence in their work much faster. This aspect is not always easy. Firstly, it is necessary to have a trainer with adequate tools and adapt to the needs of each person. Also, there is a need to find a balance so as not to create a training period that is neither too short nor too long.
This aspect is essential to creating a united team in constant communication. Socializing with your colleagues is crucial since they share experiences, and achieving results is much easier if done as a team. That is why the team must be involved in the early onboarding stages.
Flexible Work Environment
Keeping in mind that the employee’s personal and family life is vital, knowing the importance of harmony between work and personal life allows for creating jobs that favor conciliation. For example, through support plans under challenging moments of the employee life.
It is a crucial way to keep the employee motivated since incentivizing work with the opportunity to progress professionally. This makes most employees change their approach to work and directly affects the company’s results.
There are many ways to value an employee: train them, reward them financially, and create a stimulating and fun work environment through emotional salary. But we often forget another vital aspect, such as providing employees with the right equipment and tools.
Start small. This means that it is not necessary to implement big strategies and changes; The small advances and actions, if they are started having considering the employee’s reality, are the ones that generate fundamental changes.
This is because they are highly valued and co-created with the employees. Finally, measuring whether results are being obtained, what is working, and what is not is essential. This helps your company know if it is moving in the right direction and always listen to the employee’s needs.