Here’s one thing every business owner needs to know when it comes to hiring and recruitment: finding the best candidate should always be your number one priority. However, this is not where your job (so to speak) ends. Once you do find your new rockstar, you need to focus on keeping them in your company—that is, retaining them—because not only is this in your best
There are a couple of factors that can affect employee retention, one of them being the working environment your employees find themselves in on a daily basis. This entails simple things, such as being respected by their peers and receiving positive feedback from their superiors, or more complex issues, such as your employees feeling valued and important to your business. To better understand what you should do in order to keep your team, let’s take a look at what Oscar Patron, founder of Beyond Expectation, and Liz Trotter, founder of American Maid Cleaning, believe are the best practices when it comes to employee retention.
Make Sure to Recognize Your Employees’ Efforts
Oscar Patron is one of the people we’ve talked to who has successfully managed to achieve employee retention within his company. How did he do it? Namely, Patron believes that it is fundamental for his employees to know that the work they do matters and that they aren’t just housekeepers. What does this mean?
Well, all employees who truly put effort into what they do, receive recognition in due time for striving to do their best, i.e. they are acknowledged publicly within the company, either via a shoutout or an employee-of-the-month badge. Little things such as these help them realize that their efforts don’t go unnoticed, while this, in turn, motivates them to keep up the good work and even become better at it. Naturally, this is different from company to company, and the internal agreement within it.
Another thing Patron emphasizes is that he tries his best to make his employees feel like they are a part of a big family. He does everything in his power to protect them, always puts them before the customers, and ensures that they get to enjoy bonuses, various incentives, well-deserved vacation days, and other benefits as much as they can. Just think about it: by protecting your employees, you will both improve employee retention and gain your employees’ loyalty, which is probably the most important thing you might want to have, no matter the industry you’re in.
It’s All About the Three Ms: Matter, Meaning, and Measure
Liz Trotter, another business owner we’ve had the pleasure of meeting, believes that the three Ms—matter, meaning, and measure—are the key to keeping employees in any company. Let’s start with the first M: matter. As an employer, you need to make sure your employees feel like they matter and play a vital role in making your business tick. In addition to having them believe in themselves and what they do, this will also instill a sense in them of not wishing to disappoint you.
Your employees won’t want to leave their job if it gives them meaning, which is the second M out of Trotter’s three, and it’s up to you to ensure they see that meaning on a daily basis. Last but not least, is measure, i.e. helping them realize how they’re doing when it comes to their jobs. If they see that they’re doing a good job and learn how they can improve, they will be more motivated to excel at it.
Your Employees Shouldn’t Work Just for Their Paycheck
As you can see, company culture plays a huge role in employee retention, but so do person-to-person interactions. Remember that each and every employee is just as important as the next one, and make sure they’re aware of this at all times. Finally, if you allow your employees to truly participate in developing your business and contribute to the company—not just work for the sake of their paychecks—they will grow to love their job, which will help them do it better and, ultimately, inspire them to stay with you.