Hiring the right talent is a tough task. But retaining them is a whole new challenge. Disengagement is one of the first signs that an employee is on the point of leaving their job.
Those days are Gone when the employers held all the cards. Employees are no longer obligated to work for companies that do not benefit them. As a result, understanding staff retention is the key factor to retain top performers on board.
Employee turnover, or the loss of organizational talent over time, is a major problem for most businesses. In 2019, more than 42 million Americans willingly left their jobs. By 2023, more than one-third of employees will have willingly left their jobs if current trends continue.
In simple terms, employee retention is the effort to keep hold of its most prized asset - the employees! Furthermore, a low or high employee retention rate directly impacts a company's overall profitability.
If you have the best qualities within your workforce, it makes financial sense to maintain high levels of employee engagement, company loyalty, and job satisfaction through retention strategies.
Here are effective approach tactics to employee retention that make your employees stay:
Communication and motivation are two important aspects that help assure employees and encourage them to work in a friendly and caring environment. Improving leadership, confidence and trust, creating new doors for learning opportunities, and assisting in the development of managerial skills are all critical. These can be achieved by internal communication, conducting seminars and workshops offering opportunities to the employee to interact with various industry veterans and improve their skill set.
Employee communication refers to the exchange of ideas between employees and the organization's management. Effective employee communication is critical to an organization's success. It can be in the form of written communication (e.g. emails, memos, text messages), verbal communication (e.g. meetings, conversations, voicemails), and even non-verbal communication, such as body language and facial expressions.
Effective workplace communication leads to higher work productivity and helps the organization gain insights.
Using social media, you may instantly share information with your employees. There is one thing you should keep in mind now. There can't be any hard and fast communication guidelines. For example, in one organization, there are times when a communication process is effective.
However, in another organization, the same communication process may not be as effective. What you need to do is figure out which style of communication works best for your company.
The traditional communication technique emphasizes a top-down approach. The policies and procedures are created by the management.
Employees are informed about the policies that have been developed. Keep in mind that the old procedure is based on one-way communication. One-way communication is ineffective in achieving desired outcomes.
For efficient communication, we must reduce communication barriers. One-way communication is more of a stumbling block.
It restricts freedom of expression. In such an environment, employees are hesitant to express their opinions. As a result, the organization's growth is limited.
What you must remember is that your employee is carrying a crucial communication tool. Smartphones are undeniably one of the most powerful communication tools.
The best thing is that using a cell phone allows you to communicate with people who work remotely. Another effective communication tool is social media. You can use these platforms from any location. As a result, staff are kept up to date on what is going on in the company.
When we consider the global trend, email is a viable form of communication. Email is a great way to stay up to date on what's going on in an organization. The advantage of email is that it allows you to contact your workforce immediately.
Additionally, you can contact each and every employee via email. The only downside of email is that it is difficult to determine the message's tone, and communication can rapidly break down.
There are plenty of advantages to internal communications. A strong internal communications strategy will help an organization to:
According to Quora, you must find measures to boost staff communication. The fact is that high-performing firms prioritize communication with their workforce. However, there are particular communication parameters that you cannot ignore under any circumstances.
Remember that when asserting oneself to others, words aren't the only aspect to consider; delivery is also important. Employees' perceptions of your message can be influenced by nonverbal clues such as tone, attitude, gestures, eye contact, and facial expressions.
Crossing your arms, taking a wide posture, or thrusting your chin out all suggest anger and should be avoided. Instead, as a display of respect and understanding, subtly emulate their posture and motions.
You must understand the psyche of your employees. At first glance, this may appear to be a difficult task. It is not, however, an impossible task. As an employer, you should conduct several surveys on a regular basis. Through the surveys, you will be able to better understand what is going on in the minds of your employees.
Invite all members of your department's staff to meetings where they can express their views in a productive setting. Divide this up by department if you have a large organization to save time and space.
Plan to host an open forum once a month or once a quarter so that everyone gets an opportunity to speak up when their finest ideas strike and maintain it free of rules.
Email, intranet, enterprise social networks, video, and offline channels like notice boards and "town meetings" are all used in a good plan to connect with employees. Organizations may reach more employees by varying the delivery channels, including remote workers and front-line staff who do not have a fixed workstation. Consider selecting people in various roles and situations across the organization – remote worker, front-line worker, manager, Generation Z, a new recruit, long-term employee – and soliciting feedback on how they consume corporate communications.
A follow-up note delivered to each participant reinforces the key themes of an important debate, giving them an overview to peruse anytime they need it. Because some employees process information more visually than others, this guarantees that both forms of comprehension are considered. If you're concerned about efficiency, keep your writing brief and easy to read.
When used effectively and positively, communication may become an essential component of a company's long-term success. Maintain open lines of communication; the extra effort will pay off when your best staff are invested in the company's success.
It's important to remember that you can't judge something you can't measure. You must monitor the effectiveness of your organization's communication method. After you've tracked the efficacy, you'll be able to assess the process's success.
We'll look at some basic KPIs that can be used to assess internal communication. Every company delivers information to its workers. The concern is whether the employees are actually interpreting the data. You can use a tracking platform to keep track of the engagement. As a result, identifying the flaws in your communication system will be much easier.
Most HR managers now calculate the number of Intranet logins or email opens to determine engagement. However, this merely provides a glimmer of the bigger picture.
Slack is the first word that comes to mind when we talk about the best communication tool provider. Maintaining excellent communication with a distant employee is the actual problem. This is where Slack comes in handy. The employees' Slack status can be synced with their Google calendar. As a result, others become aware of an employee's availability.
Employees can easily join Zoom with a single click, thanks to this tool.
Another application that is gaining popularity is Yammer, which is useful for internal communication.
Yammer is a cloud-based social networking service. It allows employees to work together across divisions and encourages good employee communication. Yammer allows employees to join both public and private groups.
Team members may become confused about their specific goals and the company's overall goals if there isn't appropriate communication. Poor productivity, missed deadlines, diminished employee engagement, lost earnings, and high staff turnover rates are all consequences of ill-defined goals and milestones.
Any business that implements a strong internal communications plan will experience an increase in profitability and employee retention. The benefits of effective workplace communication may be game-changing, with increased productivity, happier employees, and open, honest dialogues that boost overall productivity and employee engagement.