Creating an Atmosphere for Retention
Have you had issues with employee turnover over the past few years? As of 2021, the national average annual turnover rate was 47.2%, a number that’s been steadily rising ever since. And unfortunately, this turnover rate isn’t just bad for your bottom line — it’s bad for the motivation and morale of your entire team.
If you’re in a never-ending cycle of losing and hiring employees, finding the groove you need to experience exponential growth can be tough. While you should dedicate your energy to strategy, you’re instead focusing on onboarding new team members — which can be much more exhausting than one would think.
These ups and downs also require your current team members to fill in the gaps and shift their responsibilities, which can create rifts that only lead to additional turnover. Plus, changing roles can leave your clients feeling unsteady, unsure who to contact when they need something and questioning your company culture.
The bottom line: Your business can’t afford to consistently lose employees. So, now’s the time to prioritize retention. Whenever you experience turnover, you’ll need to identify the reasoning behind someone’s departure so you can address each problem firsthand.
If you’re looking to build a strong team that sticks around for the long haul, check out our best tips for creating an atmosphere for retention.
Learn what motivates your employees
When it comes to work, different team members stay motivated in different ways. Some find their flow early in the morning, while others prefer to crank out projects into the wee hours of the morning. Some are incentivized by financial opportunities, and some need to feel appreciated enough to continue getting the job done.
If you have a handful of people on your team, you’ll need to understand how to motivate each of them. Get to know them better so you can give them the feedback they need to feel understood. This might mean 1:1 calls once a month to touch base or team lunches once a week for those working in an office. Find what motivates your team, and be intentional about your gestures.
Remember life outside of the office
When you’re hard at work, it’s challenging to remember that each of your team members is also feeling the pressure inside and outside their role. So while you need to motivate your employees to perform their duties, you must also recognize that they’re people first. Be sure to acknowledge that we’re all imperfect and make mistakes.
This means checking in on your team members and letting them know this is a safe space for them. Often, employees leave because of a lack of work/life balance, so it’s vital to cultivate this inside your company. In addition, try being flexible when personal matters arise and have contingency plans in place in case one of your team members experiences an emergency.
No employee should have to sacrifice their personal needs to finish their work to-do list. As a leader, you must ensure all team members feel valued — because they’re much more likely to walk if they don't. Put your people first and know that even minor changes can increase engagement and job performance.
Find the right incentives
While each person on your team will be motivated differently, some incentives appeal to all. Find exciting ways to get the most out of your team and encourage them to work together to meet an end goal. For example, consider an all-expenses-paid team vacation or a handful of extra paid vacation days as a reward for reaching a sales goal.
A shared prize will keep your team members locked in and push them to collaborate. Know that your employees are an essential piece of your business, and you will only succeed through their efforts. The right incentive will help them feel appreciated and inspired as they reach for that big prize.
It’s not often that people leave a job where they feel supported and seen. Surfing through open positions, nervously preparing for interviews, and starting from square one won’t be high on your team members' lists if you foster an inclusive workplace. Instead, commit to learning more about them and leading with empathy, so you can win them over for life!
Hustle + Gather is a training and consulting firm that is on a mission to inspire others to take big leaps, dream big dreams, and create amazing teams that grow profits and an enjoyable (but productive) culture within business. They specialize in the hospitality industry and have coached and trained businesses to increase their profitability while creating a kick ass team along the way.