“Pay your employees more–more attention.”
Laura Moody, South Carolina Regional Manager, Hire Dynamics
How would you describe the culture of your workplace? Would you say that your company’s culture is a positive, developing, diverse, comfortable, safe environment? What about the communication between employees and management – does it go both ways? Are there programs in place to help workers develop as a person as well as an employee both now and in the future? What about your pay rates? Are they fair and do they compete well with others in your industry? Do all employees feel that they are cared for and valued? If you are struggling with employee retention, the issue may be found in the answers to these questions.
It is no secret that times have changed in the workforce. Today’s talent is looking for more. Millennials are looking for more in a job than just a paycheck and decent health benefits. On top of a paycheck and health benefits, they are looking for a workplace where they can develop both personally and professionally, feel valued, be heard, and have a little fun. They want to be included in meetings and receive recognition when it’s deserved. They want opportunities to get to know their teams and the people they work with on a daily basis. You might be thinking, “That will cost a fortune” or “Those people are crazy – what kind of company can offer all of those things?” The answer is simply the kind of company that invests in and is, therefore, retaining employees. Companies that offer competitive pay rates, good benefits, development opportunities, a positive culture, and employee recognition are going to keep their employees longer than those with only one or two of these important items.
Running a company is a lot of work and everyone is so busy that it might seem that taking the time to study and invest in your company culture would be overwhelming. It doesn’t have to be. You can start small and work your way up to bigger projects. Once you dive in, you will begin to see employee retention grow and note a shift in your work environment. You may even wish that you had explored this sooner.
How can you improve your company culture?
Hire Dynamics talked to a few industry experts in the Spartanburg, South Carolina area and they shared strategies that they have implemented to retain their employees:
- Offer competitive wages
- Engage more with employees – a simple hello or asking how things are going
- Offer leadership/career development programs
- Host annual functions
- Raffles (give out tickets when non-exempt employees start their shift and at the end of the week raffle off a gift card)
- Acknowledge high-performing employees on a company bulletin board or at a meeting
- Follow-up after the on-boarding process
- Give back to your community and causes close to your employees’ hearts