In the midst of the Great Reshuffle, it’s more crucial than ever to keep top talent.

For starters, replacing employees is shockingly expensive — a trillion dollars a year in the U.S. alone. Filling a position can take months, which means that there’s work that goes undone, and hiring just one worker after someone leaves can cost one-half to two times the employee’s annual salary.

But there are plenty of other reasons why retention matters. When employees stay with the company, your organization’s productivity remains consistent. Your key knowledge and skills stay in-house. Employee morale improves and employee engagement increases. And candidates take notice. High employee retention means that teams are stable, passionate, and qualified. Who wouldn’t want to work for a company that offers that?

Retention is usually the result of many different factors: fair pay, compelling culture, supportive leaders, and opportunities to learn and grow, to name just a few. But by starting to improve even a couple of these, you can also make your company a place that people feel inspired to join — and to stay put. We’ve come up with 30 high-impact steps that you can take to improve your retention.

Let’s get started:

1. Listen to what employees have to say

More than ever, workers want to be respected and heard. When they feel like the leadership is listening, it can make for a winning corporate culture. And that’s one of the key reasons employees decide to stay with their current employer — or start looking elsewhere.

2. Create an inclusive work environment, where everyone feels like they belong

Nearly half of Black or Latino workers have quit a job because they’ve experienced or witnessed discrimination at work. When employees feel safe and valued for who they are at work, they’re more likely to succeed in their jobs.

3. Offer flexible working arrangements

If there’s one thing workers have voiced repeatedly during the pandemic, it’s that they want a say over where and when they work. So, to keep your best employees, try to offer as much flexibility as possible. Workers who feel their companies offer enough flexible options are 2.6 times more likely to report being happy in their jobs and 2.1 times more likely to recommend working for the company.

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Source:     Laura Hilgers, 23 mai 2022