As we get into the middle of January, employers eagerly implement retention strategies to stave off the wave of employee turnover that occurs soon after a New Year begins. With that, several articles are published telling employers how these exact practices will engage and retain workers, but are these effective ways to keep valued employees in your business?
These articles usually share five good ways that could help retain your employees, including share responsibility, show respect, incorporate revenue sharing, offer rewards and allow for relaxation time. However, such strategies may not work for your company.
Drivers of employee retention and engagement are not “one size fits all.” Every company has an employee population with unique drivers of retention and engagement. This makes it imperative that organizations appreciate how much knowledge their employees have to offer, and recognize that their employee’s reasons may significantly differ from the company across the street, or featured in an article. When referencing benchmarks or best practices from other companies, you are learning what works to retain their employees.
The only way for individual companies to know precisely what works to retain and engage their employees is to ask them. Using an evidence-based research approach within your organization will uncover drivers of retention and engagement amongst your employees.
Instead of blindly following a retention strategy that worked for the company across the street, show respect for the knowledge and individual characteristics of your employees by asking them for feedback. You will realize retention and engagement strategies tailored to your employees not only are a better fit, but also that they will produce better results.