How do I retain good employees?
I am in recruiting mode to expand my business and need help retaining good people, any Ideas? I have a business opportunity, but you make what you put into it and I'm having difficulty retaining people with the same outlook and drive.
From my experience, many organisations don't have a strategic plan that shows their employment signature experience. This should be a top priority because employee's life cycle changes after marriage, training. achievement of higher educational qualification etc. Employers should take all these changes into consideration and think about the future of their employees. Once this is done you are on the right part to retain your good employees.
I always left jobs because of poor work environment. Getting a good enough salary is key, but you will always be looking for a better home if you are unsatisfied with the company atmosphere. Giving employees positive feedback often helps increase morale, as well as after work get togethers sponsored by the company. That always brings the team together and that helps with the overall atmosphere at the work place. Also, having meetings often and including all employees often helps build a team. Make everyone feel important and that their ideas are welcome and appreciated.
Hope this helps...I'm not a business owner, but I have been an employee for many years and I know these things were important to me.
Hi Michelle, this is something we face every time when we sign up a new client who has employees. There is lots of issues as many people have already pointed out and most of the answers you're getting are very good and not to be dismissed.
But in my line of work I need to make sure that with every project we do for our clients (mainly grow sales), employees need to be on board. For us it's a bit like selling the concept in the first place, when I first talk to business owners or directors they need to buy into the concept. Once they buy in, that's half the rent for me.
But that means now I need to get the employees to buy in. I developed a simple method that (so far) worked all the time, and every coach here or every business owner with a little bit of leadership and coaching knowledge can easily implement:
First, you do a goal setting exercise with everybody involved in the business (after they are hired of course, this is not to find top performers but to create them and keep them loyal to you).
As the business owner or the business coach (whoever wants to take that on board) it's mandatory to communicate the company goals. What do you want to achieve, what do you expect to achieve.
The second step is to look at your employees personal goals, what do they want from life.
Once you know what they want, you can show them how to get it by helping you achieve your goals (company goals) and how this benefits their dreams and goals that they might have.
We call it the GoalMerger and it's created to merge corporate goals with personal goals. This is normally a 2 1/2 hour workshop and once accomplished you will see a motivational rise in the behaviour of your employees but also a better team work of trying to achieve the company goals (this doesn't mean the goals will be achieved but it will bring the people closer together and they will do everything they can to help you (help them) achieve the goals and targets.
You ultimately show them what it means working with you (not for you) and what's at stake. If goals are not achieved, what are the consequences to the company and ultimately to the employees. It's important however that they come up with the answers themselves and not the boss or coach. It's not about telling people if we don't achieve our sales figures, your job is on the line...but to ask, what do you think could happen if we don't achieve target x? What are the consequences? Then let them answer and write it all down on a flip chart or piece of paper...but so that they can see it. Once this is done, show them the flip side of the coin what happens if you achieve your goals and targets and what it means to their personal goals.
One thing we need to understand as business owners is that just because the business is our dream and vision, doesn't mean it's our employees dream and vision.Many people think that employees need to share our vision but it's not what they want from life. Imagine somebody comes up to you on the street and says my dream is to marry you. You never met that person before, what would you say? Probably you would tell them to leave you alone (maybe not precisely those words...) and then he says, but it's my dream...yes, it's your dream, but I'm not in it as you are not my dream...this is the same with employees. It's your dream but not theirs...and they will never, ever share that dream with you. At least not entirely. You (as the business owner) are a means to an end. This could be to pay the bills, because of job stability and security or simply because you have a good name and people want to work for you. If you change that attitude and create little employee entrepreneurs (employpreneurs) and show them how they can achieve their goals, suddenly they will have an interest in joining your quest to success. Because lets face it, that's all we are interested in...I don't give a crap as an employee how much money you want to make, I care only about myself...my family comes first, then my friends and my car and house is in there somewhere as well, but you, as the employer are on the last part of the list. Yes I need you, so I will tell you whatever it is that you want to be told in order to keep my job, but as soon as something better comes along, I'm gone...(now I realize this might be a bit harsh and I'm sure not everybody or every employee is like that but we are human beings nonetheless. And it's in our human nature that we come first, our own personal goals and dreams come first and then somebody else. What we need to understand is if we help our employees to reach their goals, to grab their dreams and achieve the best personal results possible by simply showing them if they help us, it will automatically help them, you will transform your entire business for the better. Will people leave? No question about that, but most people will stay because they can relate to what you are trying to do and how this will benefit them. And the good news is, that you don't even need to pay commission or provide them with a stake in the company because ultimately they all have a stake in your business, they just don't realize it.
CFO: What if we train people and after investing in them, they leave?
CEO: What if we don't train them and they stay?
Invest in your employees, invest in yourself. Zig Zigler once said that motivation is like bathing. You need to do it regularly or you start smelling out of your pores.
A one time exercise will get you started but regular follow ups and real interest on how your employees are doing in achieving their goals will keep them stay longer with you, become loyal to you and your brand and even sell you to their family and friends because you just became a part of their life that they never thought they could have (if that makes sense now...)
I hope this is helpful.
On a last note:
Good luck. Every coach can do a proper goal setting exercise with you and your entire team. Make sure when you look for the right business coach that they have experience in transforming employees into employpreneurs. Most business coaches have the employer in mind as this is the one who pays the bills. Don't fall for those. Your employees are more important than most people realize and a proper business coach will know that and understand that they need to pay as much attention to the employees as they pay attention to the employer. If your business coach starts coaching your employees to success, that's when your success will come automatically. (Doesn't mean that you shouldn't be part of this, in fact, you and everybody involved in the company should be part of this exercise).
(Everybody who read this to the end, I'm really, really sorry for my long posts...I just can't help it...but I'm grateful that you've read until the very end...well done and thank you)
Michelle, the best way to retain people is to be sure that they share your dream. You need to be clear about the vision and ensure that your employees find their purpose inside your company. If they know what they are contributing, building and impacting for they will be more engaged. Research indicates that most of the people leave companies because of their direct managers, therefore be sure that whoever manages people in you company is on the same page as you are. and finally, keep communicating and been honest and transparent about the company's progress and journey.
the biggest issue I have had as an employee is "empowerment" from my employer. Empower employees to make decisions, you can train decision making but you want people willing to take a stand. Those employees will make your company better, too many times business owners want to control things and in my opinion drive good employees away.
That aside from pay and benefits!
Michelle, not sure what kinds f skills you are interested in. If computer-related I have a blog on this topic - What Makes Techs Tick and How to Keep Them on the Clock. You'll find this on my GrowThroughPeople web site.
First: If you ever do hire someone with the same outlook and drive, don't bend over.
But, in order to retain the employees who you value, you really need to empower them.
Have frequent open meetings in which you deal with opinions, ideas, and complaints. One CEO I consulted with has an "idea/complaint" box at the front desk. He has weekly open meetings where he pays every person who submits an idea or complaint $5.00. Every monday morning he opens the meeting with a fistful of Abrahams. And he makes a point of reading every idea/complaint out loud. Then he delegates one of his staff to be in charge of any idea/complaint until it is solved, and makes the employee with the idea/complaint responsible for making sure the issue is properly dealt with.
This airs all good and bad stuff for all to hear. It discourages those who want to complain secretly. It really empowers people by making them responsible for seeing a process to its conclusion, and, finally, it brings out many more ideas than any other method I've ever seen.
Michelle, turnover (particularly in times of rapid growth) is impacted significantly by unclear expectations; the folks you are interviewing discover that what was expected of them and/or the state of the business are not what they were led to believe. Surely there are many more reasons but you cannot retain an employee unless you are able to hire one who is aware of what they are getting into. The term "recruiting mode" suggests to me that expediency may trump patience. I can't say I blame you but I suggest you be sure that your prospective employees are well informed. The probability they will stay on board and that they will be productive will be dramatically improved.
In my experience there isn't a single reason that make people stay in a company or not. Normally if the person mission, vision and values is aligned to the company and a inspiring boss, they will think twice before change.
It is a very standard problem every company face in the Industry. If we try and implement some of the following ideas, we should be able to retain the top talent.
1. Create a transparent and open communication between employees and the management:
employees should be comfortable speaking their mind with the higher ups. Many issues can be resolved with having such a transparent culture
2. Set clear expectations:
Many at times employers fail to let employees know what is exactly expected from them. Same thing applies from the otherside as well.
3. Introduce benefits which are unique:
Revenue sharing, giving dividends, better reward programs can motivate employees to be loyal to the company
Make them feel appreciated, always be kind and make them part of the company (or feel a part anyway).
And/or analyse the intrinsic reasons why your employees leave and counter those reasons.
What works for me is to not consider the people working with me as "employees" in the legacy sense of the word. We are all stakeholders in the business - and part of my job is to make sure that the people I work with feel that way. Everyone in the company owns a part of the company. We've found that when everyone has skin in the game not only does productivity and client satisfaction increase, but personnel churn is virtually non-existent.
But giving people a piece of the pie is only part of it. The harder part is the continual nurturing and refining of an internal company culture where people feel that their contributions are recognized, their opinions are heard, and value exchange perception between employee and company is in balance.
It wasn't always like this. At the beginning we had to let people go, because their reason for being at work was primarily for the salary check. That was no-one else's fault but mine: I recruited people based on the wrong criteria. I've learned the hard way that having people that are a cultural fit within the business is exponentially more important than whatever BS in on their CV. Skills can be taught; passion, integrity, and initiative cannot.
In my opinion capitalism needs to move to a conscious model where *all* stakeholders needs are balanced - employees, founders, shareholders, customers, suppliers and the broader community in which the business operates. We're in a world where CEOs are making 300+ times their employee average, and where the rich enjoy double-digit return on capital while 'normal' savers are lucky if they get 0.5%. This is unsustainable. At the same time, people who provide true risk capital need commensurate returns. Balance is required.?
Why are people leaving? Apart from pay, the next thing for most people is usually job satisfaction. If people don't feel like they are contributing meaningfully or are being ignored despite having better ideas then will leave. How do people feel about those who manage them?