In a world where the lure of money talks and big promises attract young impressionable minds rather easily, we have a corporate culture that encourages people to move between jobs at the drop of a hat.
Younger generations in particular have grown up with a sense of entitlement that often leaves them naïve to the realities of what the workplace truly expects of them. Ensuring the loyalty of your employees is the most effective way of minimising turnover and maximising productivity and profitability.
Very rarely do you find modern professionals that have stayed at the same company for extended periods of time. Instead, the appeal of higher salaries, more senior positions, and added perks for certain positions draw employees away from their current companies and into the arms of one of your competitors.
Reimagine your hiring process
How can you ensure that you buck the trend and keep hold of your best assets? Start from the beginning by making sure that the hiring process your company employs is rigorous and weeds out the bad apples. If you hire someone who has been employed by five different companies in two years, then you can expect the same loyalty that they afforded to their previous employers.
Involve new employees in the company culture as soon as possible. An alienated employee is more likely to become unsettled and seek opportunities elsewhere, so work immediately to make them feel welcome not only in their position, but as part of the bigger picture.
Create room for growth
There’s nothing worse as a professional than feeling like there is no room to grow at your company on both personal and professional levels. These feelings will definitely lead to feelings of unsettlement as employees re-evaluate their roles within the company and begin to see other employment opportunities as a case of “the grass is greener on the other side”.
Reward great performance with the chance to move up the chain of command and you’ll find yourself with a significantly more motivated workforce that have achievable goals.
Trust your employees
Trying to control every aspect of an employee’s job will only make them resent the role they’re currently in. Micromanagement, after hours work-related communications, and stifling creativity will put you on the fast track to a significantly higher employee turnover rate.
Give employees a sense of accountability for their actions and provide them with tasks to complete on their own and you’ll find yourself holding on to your best workers.