If you’re concerned with attracting and retaining the best talent to round out your workforce, you’re not alone. In a recent study, 85 percent of HR executives said this was their single greatest challenge. Cited among the leading reasons employees quit were:
- They felt overworked; for instance, having to continually put in longer days or come in on their day off.
- Management didn’t involve them in making decisions or give them pride of ownership.
- Management failed to take the time to clarify goals and decisions; therefore, their work was rejected, even after they had completed it.
- Management showed favoritism; for instance, when it came to promotions, trips to conferences or better office space.
Take the PRIDE Approach
The good news is: all the factors above – and others that contribute to higher employee turnover – are preventable. Greg Smith, professional development expert and author of Fired Up! Leading Your Organization to Achieve Exceptional Results, created the PRIDE formula for engaging employees and ultimately, improving recruitment and retention:
- Provide a positive working environment. It starts at the top. Many supervisors are unaware of how their actions and decisions affect employee behavior, including turnover. Be sure your managers are trained in such areas as communications, conflict management and general leadership and teamwork. They need the knowledge to understand their employees’ needs and be able to implement a strategy to keep them engaged in your company.
- Recognize, reward and reinforce the right behavior. People have a basic need to feel appreciated and proud of their work. A study at the University of Arizona showed that offering appropriate rewards made teams more cohesive, even if the individual members didn’t get along well. Never hesitate to give credit to those who deserve it – and make sure your managers are doing the same.
- Involve and engage. Give employees that much-needed sense of ownership by soliciting, listening to, and acting upon their feedback. Hold one-on-one meetings, focus groups and larger town halls, so everyone from the most outspoken to the quietest introvert feels safe and comfortable contributing.
- Develop skills and potential. For most employees, career growth opportunities are just as important as salary. In one study, more than 40 percent of respondents said they would consider leaving their jobs for different ones with the same benefits, as long as the new role provided better development options and challenges.
- Evaluate and measure. It’s critically important to assess your employee engagement progress and zero in on what satisfies and dissatisfies your employees. Tools to accomplish this might include annual surveys, improvements to your hiring process, and evaluation of departments with the highest – and lowest – turnover rates.
Consider a PEO Partnership
Working with a professional employer organization (PEO) can boost your ability to attract, motivate and retain the best employees. You enter into a co-employment arrangement, which gives you access to highly competitive employee benefit packages. And, you benefit from specialized expertise in virtually every area of HR. PEO clients have significantly higher employee satisfaction levels and lower rates of turnovers than other small to mid-sized companies.
To learn more about the benefits of a PEO partnership, read our related posts or contact Lyons HR today. We look forward to helping you build and retain your winning workforce!