Daily Archives: December 27, 2016

The Importance of Non-Financial Factors in Employee Retention Programs

There’s an old saying that goes “people don’t quit jobs, they quit managers.” What that means is that the number one reason most people leave jobs is because they don’t get along with a manager or supervisor, and that’s usually true. It may surprise you to learn that, but it’s not money, location or any other single factor that impacts employee turnover the most. It’s the people they work for, and when you’re looking for ways to improve culture and your employee retention programs, this is a good place to start.

Identify departments where you have high turnover, and take a closer look at the management structure, and if that doesn’t solve the problem, consider the following options.

Hire Right

Getting and keeping the right people in your organization can have a huge impact on your bottom line, and it all starts with your hiring policies. Instead of using the hiring process to exclude as many people as possible, use tools like character reference checks to find people who are skilled, experienced, and loyal team players.

The right team goes a long way to company success, and to employee retention.

Employee Retention Programs: It’s Not All About Money

There’s no denying that money is a core factor in the employment relationship. People work because they need money to live, and if they didn’t have to, most would probably be out surfing, climbing mountains or creating art.

If you’re already paying your employees market-related or better salaries, and you’re still struggling to hold on to them, then you need to start looking at employee retention programs, which may include:

Access to in-house or external training. Great employees are always looking for ways to improve their skills, and this benefits them and you!

– Improve the working environment. While you might be far from sick building syndrome, there’s no denying that a nice, comfortable work space makes being at work more enjoyable for everyone. Install standing desks. Paint the walls a bright, sunny shade. Start an employee graffiti wall. Whatever it takes to spruce up your space.

– Listen to your employees. Even if you think your managers are the best thing since sliced bread, it’s your employees that have to work with them, and they might be having a very different experience. If one employee complains, it may be personal. If they all do, it’s a cause for concern, and a reason for action.

– Stop micromanaging. Employees want to have some autonomy, and to feel that they can make decisions and take action within the scope of their job. If you’re hanging over their shoulder all the time, that can’t happen, and they’re going to find somewhere that they can be creative and make a real difference.

– Have an internal promotion policy, and stick to it. Your people want to know that they are working towards something, and if you’re hiring outside the organization for all the best jobs, they won’t feel that way.

As much as we’d like to, we can’t all be like Google, with their free food, chill out rooms and maker spaces. But there are things every company can do to make working there more enjoyable for everyone, and when people like their workplace and their jobs, they stay longer, and that’s good for the bottom line.