Improving your retention rates comes with a range of benefits. First, it means you won’t need to recruit as often, since fewer vacancies occur. Second, it can keep your costs down in key areas like recruitment and training. Finally, it creates peace of mind when high turnover is a thing of the past.
Making progress in an area like retention doesn’t happen by accident. It requires dedication and a willingness to take a hard look at company operations. While some level of turnover is unavoidable, specific actions on the part of management can drive top performers away. Correcting these issues can make a significant difference, allowing you to keep your best and brightest on staff.
If you are ready to improve retention rates in your company, here are some areas to examine.
Poor Management Styles
As the old adage goes, people don’t leave companies, they leave managers. Many top performers will quit a job if they don’t agree with their supervisor’s management style.
Poor leadership often results in tension. At times, this is because expectations or directions are unclear. In others, a sense of being micromanaged can leave professionals frustrated, particularly if they are highly experienced and capable of working with a bit of autonomy.
Providing managers with a suitable amount of training can help make sure issues don’t arise. It also benefits new leaders in your organization, teaching them the value of empowering their workers and ensuring they aren’t overloaded.
Having a negative attitude can wreak havoc on morale. Employees may feel underappreciated, unsupported, or that the deck is stacked against them, particularly if none of their accomplishments are recognized, or conversations with their supervisor are overloaded with undue criticism.
Similarly, leaders who take credit for the work of their team can drag workers down. Failing to address legitimate concerns also demonstrates a lack of caring, which drives employees away.
Teams need to feel like management is invested in their success, and that requires more than pointing out problems with their performance, especially if the employee performs well in their role. Otherwise, workers will likely seek out greener pastures.
Not Following the Rules
If it appears managers aren’t subject to the same standards as employees, discontent is often a side effect. Employees need to know the rules apply equally to everyone or the company’s culture will be harmed.
Similarly, blatant favoritism can take a toll. Treating certain workers differently than others, whether positive or negative, creates imbalance and uncertainty, and that is damaging to morale.
Having a single standard in regards to behavior and performance is a must. This provides a sense of consistency and makes it easier for employees to gauge management’s expectations. Additionally, it ensures that favoritism doesn’t harm the workplace, creating an environment where everyone is on equal footing.
By making sure leaders in your company are creating a consistent and supportive environment, you can improve retention rates. If you’d like to know more, the experienced team at The Advance Group can help. Contact us to discuss your retention goals today and see how our expertise can benefit you.