The beginning of the New Year often spells resolutions, and for employees who felt unappreciated and disengaged in 2012, top of their list may be “new year, new career”.
However employers will be considering a different resolution: retaining the top performers.
Paula Maidens from Recruitment Coach, employers must give careful consideration to retention strategies right from the outset of the New Year or risk losing key employees.
“The New Year gets everyone thinking about how to improve their quality of life, with a common resolution to find a new job. If employees aren’t feeling valued or engaged, they may decide that the New Year is the right time to look for a new challenge or a position where their efforts will be appreciated,” Maidens told Dynamic Business.
A few simple retention strategies can be implemented to combat the trend of high turnover in the New Year, and the first step is to focus on communicating the employee’s future within the organisation. Maidens offered the following five key tips:
1. Recognise employees’ achievements from the past year – Take advantage of the beginning of the year, and use it as a platform for recognition of excellence. Encourage managers to thank employees personally for their hard work from the previous year.
2. Demonstrate a future with your organisation – sit down with key employees to develop a personal development plan for the next 12 months – show employees just how exciting the year can be with your organisation.
3. Offer training and development opportunities – Your best employees aren’t content to rest on their laurels when they’re doing well. They want to grow as professionals, so ensure your business caters to their needs. Commit to finding new training solutions for the New Year and encourage key staff to learn new skills and knowledge – on the job, with training, seminars or books.
4. Encourage a positive and social work environment – Research consistently shows that ‘the people they work with’ is a key reason for leaving or staying. Encourage team-bonding with group activities – inexpensive activities like Jeans Fridays, a trip to the art gallery, or team morning teas help build strong work relationships and reduce tension.
5. Make employee feedback count – Give your staff a formal avenue for feedback and demonstrate that you value their ideas for a real impact on turnover. Start an ideas program and give out fun awards for the best ideas– you may just be surprised at how well staff know your business and where it can be improved for boosts in profitability, productivity and innovation.