Employee retention is critical to an organization’s success. Based on our experience with clients, it takes 26 weeks on average for a new hire to achieve full productivity. In order to avoid this lengthy up-to-speed time, it is in a company’s best interest to keep current employees in their roles.
A staggering 51% of employees are currently looking to leave their current jobs. Are your employees among this group? Take these steps to improve your employee retention and keep your organization running smoothly.
To increase employee retention, you should ensure your employees fully understand and feel supported in their roles from day 1. By doing so, you ensure they won’t have false expectations of the job. Your employees will be more inclined to stay if the environment and position align with what they signed on for.
At VIP, we offer Role Transitioning Services that document the task-by-task makeup of a role. This tool minimizes the up-to-speed phase of a new hire while providing a roadmap of the position for the employee. Your new hire will feel well-equipped to succeed in their new role, and they’ll have a clear understanding of the goals and objectives they are expected to meet.
In order to further improve retention, regularly perform a gut check to ensure your culture aligns with your vision. Healthy culture attracts (and retains) a healthy workforce. Be sure to address problems when they arise, showing your most tenured employees that you are committed to the long-term health of your culture.
Establish a means of showing appreciation for tenured employees, and they’ll be more inclined to stay for the long run. You can celebrate your employees publicly on their work anniversaries with a gift, a note, an announcement, or another form of recognition.
Employees crave opportunities for growth. In fact, a lack of career growth is the most common reason employees leave. You can improve employee retention by outlining a clear path for growth and investing in professional development. Whether you send your employees to conferences, support their education, or provide salary increases, you can see significant improvement in retention by investing in the future of your employees.
If your organization is experiencing a period of high turnover, reach out to us for help. We’ll provide interim resources in order to stabilize your organization while finding you long-term resource solutions. We’ll also provide the road maps you need to ensure your new hires onboard smoothly and maintain long-term success.