As a business, if you have great employees, you’re going to want to keep them.
Employees who work hard deserve to be shown that you care and that they are appreciated, which we are here to show you how to do.
It can cost you between 6- and 9-months’ worth of an employee’s salary to replace them, including training costs and recruitment fees, plus the risk that the person won’t be as efficient as the previous employee!
1. Frequent Pay Rises and Bonuses
Although money isn’t everything in a job for some people, if you aren’t rewarding people’s hard work with regular pay rises and bonuses and they could find that in another role, it could be a reason for them leaving. As we discussed, financially, it is so much more expensive to replace someone than it would be to give them frequent pay rises.
Of course, this should be deserved as a result of hard work, but if you have a fantastic employee that you would struggle without, then reward them financially. Be open with them and discuss their pay and what you would need from them for them to reach a particular salary, to make sure they are comfortable with the additional responsibility that would usually come with an increased salary.
2. Strong Company Identity
Another thing that employees value in 2022 is a company with a strong identity and working culture. If someone knows exactly why they are doing the work they are doing, what they are working towards, and what the core values of your company are, they are far more likely to get things done right and enjoy the work they are doing. Everyone will work together to achieve the mission of a company; it gives you a clear differentiation from other businesses (an opportunity to highlight why you are better) and it will help to give employees a true purpose at work.
One way that you can facilitate this is to work with a design agency Liverpool, London, or Manchester-based for some of the best talents in the country, who will help you put together brand guidelines that can be sent to all employees in the company, containing information about the brand’s history, mission, values and vision for the future. It should also include visual elements of your brand like logo, colour palettes, the file formats you use, who should have permission to what, etc.
Not only will having strong brand guidelines help you to retain great employees, but it will also be beneficial for you, as everything will be consistent across all platforms.
3. Regular One on One Meetings
One of the most important things you can do to retain great employees is to have regular one-on-one meetings. This will give them an opportunity to discuss any concerns they have if they feel they have too much work and if they feel they are being well rewarded financially. As an employer, you should ask them about their current goals, what their more long-term career aspirations are, whether they are interested in learning more about a particular area with additional training and whether they have any feedback.
Making time for these one-on-one meetings is essential, as it will give your employees a chance to voice their opinion. The important part of this is that you truly listen to what they have to say and take it on board to make this exercise truly worthwhile.
4. Social Events
Something that is very important for many people is to have social events at work. This is an opportunity to spend a bit of money, show your employees that you care, and just have a great time as a team. Everyone can let off a bit of steam without the pressure of a working environment. Try to do something that most people will enjoy, like maybe going to a games bar, having a corporate event with a magician, heading out for a swanky meal and a few drinks, or even going on an overnight trip with a few fun activities planned. If there are people in your team who don’t drink, try to make sure that the activity is appropriate and will be fun for everyone.
Not only will this benefit you, but it will benefit your company, as your team will know each other on a more personal level which often helps to improve working relationships. You will be happy; your team will be happy, and everyone will benefit as a result!
Make the change now and show your employees that you care with these tips and you are far more likely to retain your successful team, which should be a priority for your business. A combination of larger gestures like pay rises and smaller ones like one-to-one reviews is what you need to be supportive, considerate, and generous as a business.
- Blogger and Educator by Passion | Senior Online Media & PR Strategist at ClickDo Ltd. | Contributor to many Education, Business & Lifestyle Blogs in the United Kingdom & Germany | Summer Course Student at the London School of Journalism and Course Instructor at the SeekaHost University.