Written by Jo Dakin – Director of Recruitment
Gallop Group has stated that in Canada 54% of the Canadian labour force is not engaged in their jobs, 18% are actively disengaged. That is a total of 74% of the Canadian work force disengaged in work, in a company of 100 employees you have 3 out of 4 unhappy employees…very frightening.
The 4 main reason’s a person will change their job and move to a new company 1) they want to advance their career, 2) they need more challenging work, 3) money – they want a bigger pay cheque and most importantly 4) they don’t like their manager. Some of the things companies could have done to retain their employees were to provide advancement opportunities, improved compensation and benefits and have a recognition and reward program.
If you are aware of these reasons there are some things you can do to improve retention and eliminate those resignation letters.
1) Regular Career Development Meetings. Managers should be sitting down with the individuals on their team on a regular monthly basis. Forget the yearly performance review, these are useless. If you are not addressing weakness or strengths when they happen at the time, but doing it months later after the fact the lesson is lost. You need to be going over the employee goals and their needs, make sure that expectations of the work in progress is clear. Regular check-ins by the manager show they care and any potential issues can be nipped at the bud.
If you have new roles that are opening within your company post them internally first, these should be mentioned in team meetings, posted on a board that is visible to all employees – perhaps the lunch room. You will drive internal mobility and employee growth.
When you have set clear expectations and there are visible career opportunities for your employees to advance their skills or career, they are more likely to be productive and engaged.
2) Many employees leave for a larger salary. If you are not in a position to increase your salary structure to be competitive, you better be offering other perks to retain your employees. You don’t always have to give big bonuses, gift cards from major retailers, can be greatly valued, especially if you are rewarding for smaller achievements. What about a free month bus or train pass? How about half day Fridays in the summer months, or compensation time during the busy season? Instead of the standard number of days for a holiday time, why not offer a week extra?
Look into unique lifestyle benefits and new compensation structures, it show’s that your company really values the employee’s career and their commitment to you.
3) You need to personalize the work place, you must recognize professional achievements whether they are big or small. When was the last time you wrote a personal thank you note that shows your appreciation for a job well done? Managers should be organizing team activities – team lunches for employee work anniversaries, cakes for someone’s birthday, and celebrations for a team that meets or exceeds their goals.These are simple, inexpensive solutions that will strengthen the emotional connection and will build loyalty to your company.
You need to create an inspiring culture that invests in long- term relationships! Are you a Leader with a team that truly supports the company vision and growth?
Do you need help with putting together a retention plan? www.hannaandcastlerecruit.com