Once you’ve found, recruited, and hired top talent, you must then retain them.
Retention is tough, we all know the reputation millennials have for job hopping, and this generation is making up an ever increasing portion of the labor force. As if that wasn’t enough, according to Forbes 46% of all new hires fail within the first 18 months on the job!
Sure, some of this is due to the allure of a better paycheck, or bad fit on the part of the candidate, but we simply cannot ignore the importance of developing employee loyalty through effective management and good leadership, when it comes to retention.
Here are 5 simple ways to build employee loyalty
Coach, Don’t Lecture
Being lectured is not very motivating. It makes us feel shamed and disrespected. Learning, on the other hand, is fun! Most people enjoy learning new things; it motivates them, keeps them from getting bored, and gives them a sense of accomplishment.
If you notice an area where an employee is weak, or lacking, take the time to coach them. Show them a few tricks you use yourself, find them some great resources to learn from, and try to point out how you think their personal skills and talents can be applied to this specific aspect of the job.
Listen, Really Listen
People want to be more than just heard, they want to be listened to. Leaders who really listen to their staff create relationships of trust, which breeds loyalty. Loyal employees stick around!
The best way to improve your listening is by approaching every single conversation with an open mind, and trying your very best to treat every question as though it is the first time you have ever heard it!
If you approach an employee’s question as though it has never been asked before, this will prevent you from making assumptions about what they are asking based on past experiences.
Three more things to focus on to improve your listening:
- Remain focused on what your employee is actually saying
- Stay in the moment throughout the conversation
- Listen with compassionate and without prejudice
Learn How to Say: I Don’t Know
This is one I personally struggle with! It can be very, very hard to get over ourselves and admit when we simply do not have all the answers, especially when we are in a position of leadership.
But, nothing is more relatable, or authentic, than responding to a question by saying: I don’t know. Of course, once you make such an admission to an employee, you should always follow up by saying: But I can find out, and finding an answer to their query in a timely fashion. This demonstrates that you have a genuine interest in their needs.
Trust Your Team
Micromanaging is the worst. There is no faster way to show an employee that you do not trust in their ability, skills, and judgment.
And, if you want your employees to trust you, you’re going to need to trust in them.
Put some faith in their talent, let them make mistakes to learn from, and give them a project that challenges them.
Bonus, less micromanaging means more time to focus on your own to do list!
Give Credit and Recognition
One of the most significant ways you can positively impact an employee’s day is by publicly, and earnestly, giving them credit where it is due.
When an employee does a fantastic job, has a bright idea, or puts in that extra bit of effort. Show them that you recognize their contribution, that they are elevating the entire team with their actions, and that their hard work is very much appreciated.
When polled, millennial employees stated that what they want most out of their work is to feel like they are making an impact.
Giving credit is free, it requires no effort, and it feels great for everyone involved!
Build a loyal team through these actions and you’ll see returns in not just improved retention rates, but productivity, positive energy, and overall team moral.
Happy hiring (and retaining)!Tags: employee retention