5 Steps To Great Employee Retention

Employee Retention Methods

There’s been a lot of talk recently about the great resignation. No doubt it’s impacted you in one form or another: either your company is having a hard time finding or keeping talent, or you might even be one of many who’s quit your position. And in this yawning Covid era, few companies can afford the extra expense of leaving key positions unfilled or training a large number of newcomers. So why are so many people quitting?

We’ve consulted a selection of world-renowned employee experience consultants and they believe it has very little to do with the ever-popular excuse: people moving away from business hubs because they want a ‘sea change.’ In fact, they conclude it has much to do about company policy, employee experience and Diversity, Equality and Inclusion: particularly inclusion.

So if want to keep your company employees on board, let’s look at some of the ways these experts recommend retaining your top talent:

1. A People Centric Approach

Jon Ingham, Director of the Strategic HR Academy, advises we think more strategically about the more humane ways of working that we have developed over the past few years. He also asks us to focus on what the employees stand to achieve, aside from a paycheck, by working for a company. In a recent discussion on the great resignation, he notes that “people come to work to achieve something to do something to grow, to develop to deliver a legacy. I mean, people have different motivators, but the experience of work is sort of part of the ways they achieve that.”

Search For Meaning Through Work

Ingham further suggests that:

People are still questioning why they’re working for a particular organization and what they’re trying to achieve. So it is this thing about a search for meaning or a reflection on what people want to achieve in their lives.

Stay Interviews

Ingham asserts there is no single fix because it’s such a personal problem. But one new trend that has been helping organizations develop a more proactive, people centric approach is ‘stay interviews:’ Instead of waiting for a person to tender their resignations, organizations are now conducting interviews with their most valuable talent and ask them what they are hoping to achieve within the organization, and what the company could offer to help them stay.   

2. Diversity, Equality and Especially, Inclusion

In a recent article for the Harvard Business Review, world renowned DEI Consultant, Karen Brown, recommends employees focus on inclusion to retain their top talent. Brown, the founder and managing partner of diversity and inclusion management consulting firm, Bridge Arrow, says even companies who pride themselves on diversity and equality often fall short on inclusion.

Discussion Promotes Inclusion

Examples of inclusion fails are when employees feel a need to go to extreme lengths or to hide their personal lives just to be chosen to work on choice projects, to be part of the decision-making processes, or even to be considered professional colleagues in some cases.

According to Brown, it’s a matter of getting “tuned into the factors that can get in the way of knowing what’s important to employees both individually and collectively. Tools such as segmented engagement surveys, focus groups, and personal conversations can guide management in taking the actions that will help keep their talent engaged and committed to the organization.” 

… tuned into the factors that can get in the way of knowing what’s important to employees both individually and collectively. Tools such as segmented engagement surveys, focus groups, and personal conversations can guide management in taking the actions that will help keep their talent engaged and committed to the organization.

3. Employee Retention Through Radical Adaptability

During the Covid-19, many businesses that were unable to adapt quickly enough floundered. Yet others rose to the challenge and according to Keith Ferrazzi, the founder and chairman of Ferrazzi Greenlight, “devised exciting and highly productive new ways of relating to each other and getting their work done.”

They were inspired to look beyond ‘coping’ or ‘surviving’ the pandemic to establish new, more agile ways of working that would help their companies stay resilient and productive during any unforeseeable future events as well. They analyzed the trials, errors, and successes of 2020 and 2021 to figure out new ways to permanently work better than the pre-Covid status quo. In effect, they turned the pandemic frown upside down.

4. Flexible Hours That Promote A Work-life Balance

After more than 20 years’ experience in technology and finance recruitment, Director of UK’s leading diversity consultancy, EW’s Lisa Jobson, has seen a radical shift in employee priorities since 2020. It was already in the cards back in 2018 when a Deloitte survey discovered workplace flexibility was the leading cause of employee churn amongst millennials. Since 2020, more than half the parents and carers surveyed asserted they were also willing to change their working patterns to accommodate childcare and family commitments more holistically.

Most surprising of all, companies found employees who worked more flexible, hybrid hours actually ended up being just as, or up to 13%, more productive. In short, a company’s approach to flexible hours and hybrid work opportunities are very often a key consideration in employee resignation.

5. The Right Tools For The Job

To implement any of these approaches and ideas effectively, from flexible, hybrid work to inclusion and radical adaptability, companies need to provide their employees with the right tools. The more advanced digital workplace software tools available can empower your employees to stay engaged and connected to the company, its resources, news, updates, and to colleagues, from anywhere.

The Right Remote Workplace Tools

To implement any of these approaches and ideas effectively, from flexible, hybrid work to inclusion and radical adaptability, companies need to provide their employees with the right tools. The more advanced digital workplace software tools available can empower your employees to stay engaged and connected to the company, its resources, news, updates, and to colleagues, from anywhere.

Currently a Valo Product Manager, APAC Business Lead and a Microsoft Most Valued Professional (MVP), Daniel Anderson has specialized in helping businesses grow through employee engagement and empowering talent to achieve more with Microsoft 365 for more than a decade. Anderson asserts in his recent eBook, Flow of Work, that “one actionable area where we can address five of the most critical remote employee pain points is in choosing the right digital tools.”

That’s Just The Beginning…

But in a more recent webinar he hosted about the great resignation, Anderson further specifies that:

At Valo we tend to look at the value experiences trying to help facilitate… those core principles around transparent and targeted communication, belonging and inclusivity, access to content and information … but it’s really how we implement it and how we use it and to achieve those goals.

Digital Workplace Advances Promote Employee Retention

Online digital workplace solutions have advanced at record pace in the last two years. With the right software, employees can do almost everything from home that they could do from the office before: from live document collaborations to company-wide announcements. From creating a daily ToDo list on their desktop to enlisting IT support and even to meeting other colleagues casually for a coffee break.

A modern digital workplace makes so many of the above recommendations possible that you could consider it vital to current and future employee retention. Digital workplace software is a new staple of modern, adaptable ways of working. With remote working capabilities, parents can support a more holistic approach to their familial responsibilities, while still excelling at their workplace duties. People who live in regional areas, or have difficulty commuting, can find work and excel in centrally located companies. And companies don’t need to compromise on efficiency or excellence to attract and retain top talent from anywhere, anytime.

***

For a deeper dive into employee retention, download our free webinar featuring Jon Ingham and Daniel Anderson for a very special discussion about
The Shift From Your Company’s Great Resignation To Great Retention
***

You can contact us to find out more about Valo’s digital workplace solutions, built inside Microsoft Teams. Or why not book a demo?

Schedule
a free demo today!

Would you like to see Valo in action? Fill in this form and we’ll contact you shortly for a quick demo.

We keep your information safe. Read more from our Privacy Policy.