Thursday 21 February 2019
Attracting and retaining the best people is a top priority for most organisations. BUT… what happens when times get tough and the pressure to cut costs and increase productivity is coming from all directions? While it may be tempting to downsize and cut back on staff retention initiatives, this can open you up to greater risk and has long term implications for culture and moral. Here are our top 10 tips for retaining your most valuable resource….your people, especially during challenging times…
Cut out the guess work and make decisions based on facts. Information is power and conducting a staff survey can help your organisation get to the bottom of why employees may chose to leave so you can do your best to prevent it!
Give your employees the opportunity to contribute to strategies and decisions through workshops and focus groups. Employees who feel involved often have increased loyalty and will stick around to see the bigger picture, even in tough climates.
Increase formal communication between the leadership team and employees. Be open and honest about the challenges the organisation is facing and provide reassurance about the strategies that will be adopted to help everyone weather the storm.
Ensure that employees maintain a sense of community and belonging to the organisation. You would be surprised how sometimes the smallest of workplace traditions have the most meaning.
Talent can be more approachable and affordable in tough economic times. While your organisation may be doing its best to ensure staff remain happy and motivated, others may not take the same approach. Strike while the irons hot!
Cutting back on your investment in professional development leaves your organisation at risk of losing your ‘stars’. While some initiatives may have to be postponed or restructured, make sure you communicate this with staff and let them know you haven’t forgotten them.
Ensure your performance incentive programs are realistic and competitive to maintain employee motivation and commitment.
Retain and motivate high potential employees thorough in-house coaching and mentoring programs utilising your senior business leaders. This is a great way to maximise your internal resources and save money at the same time!
Interesting work, challenging environment and good leadership will satisfy your ‘stars’ and prevent them from looking elsewhere for these opportunities.
Is your organisation in need of a culture ‘health check’? Radford HR can help you survey your employees to find out what they love about working for you and what you can do to ensure they stay!