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Even though it’s been two years since the start of the Great Resignation, implementing effective employee retention strategies remains a major issue for many organizations.
Addressing turnover can seem like a costly, substantial endeavor, but the reality is that there are simple steps you can take today to retain top talent.
Check out our video on the topic HERE!
Give Better Feedback More Often
Your first reaction may be to wonder what feedback has to do with engagement. But think about it.
In the vast majority of companies, leaders don’t give nearly enough feedback – and when they do, it’s far too infrequent.
Positive feedback is easy. Obviously giving positive feedback helps employee retention. But constructive feedback is actually just as important!
As soon as you have constructive feedback to deliver – even if it’s something general like feeling like a team member isn’t reaching their potential – you need to communicate that.
First, it shows your employees that you’re being honest with them. It also lets them know exactly where they stand.
The reality is that most team members naturally want to improve and they want to add value. They also want to make sure their leaders are satisfied with their job performance. But they can’t do that if you’re not delivering honest feedback, or not giving feedback often enough.
If you wait until a quarterly or annual performance review, then an employee may be frustrated you waited so long to tell them, since they may have been able to adjust performance far sooner.
Good feedback helps people improve, add more value, and contribute more to the workplace – which can seriously boost engagement and inspire people to give it their best.
Don’t Ignore Poor Leaders
Poor leaders are one of the biggest drivers of disengagement – but unfortunately all too many businesses are too slow to address the issue.
If you have concerns about a leader or see high turnover on their team, you need to either develop their leadership abilities or fire them as soon as possible. You can’t delay – the longer you wait, the more damage it will cause in terms of turnover, falling engagement, and other business impacts.
It also sends a message – that you’ll tolerate and accept poor leadership. If you have great people on your team, you owe it to them to give them the best leadership you can.
Find Out What Really Drives Your People
Most people have never had a leader that took the time to get to know what’s important to them.
Sure, most leaders get to know the basics about their team and their career goals…
But how often do leaders REALLY know what drives someone? How often do we know whether someone wants a raise to save for a down payment on a house, or start a college fund for their kids?
The more we understand what drives our people, the easier it is to inspire them to excel in the workplace. It also helps them feel more connected to their work and supported in the workplace – because someone knows about and cares about their goals.
To find out what drives your people, leaders should hold regular one-on-one conversations with their teams. Additionally, leverage talent optimization platforms like the Predictive Index and OpenBlend to learn what really makes your people tick.
