8 Tips On How To Preserve Talent & Retain Employees

So I’ve been working in my current company for years. We’re a small company but I like it because of its flat hierarchy. And I really like the fact that the management values work-life balance. Sometimes, I see my CEO closing our front door at 6 p.m. sharp, as though reminding us to leave the office, go home and spend time with our loved ones. Over the years, I feel that our company has progressed a lot but I’ve also seen many teammates come and go.

Hence, I thought why not write a blog post on employee retention.

Here are some tips on what you as the boss can do to retain your talent.

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1. Build & Share Your Positive Culture

Personally, I think this is one of the most crucial factors on whether a person decides to stay or leave a company.

Since work is a crucial part of your life, it’s paramount that you enjoy your work and that you also enjoy working with your teammates.

If you work in a toxic company where backstabbing is common, you probably won’t want to stay long there.

But if your company culture is helpful, friendly and transparent with open and honest communication, you’re more likely to stay.

Bear in mind that building a positive culture takes a lot of effort. It requires you and the management to set an example. It also requires your employees to participate. For example, they could feedback on what areas need improvement. By analyzing this feedback, you can then try to bridge the gaps between the existing culture and the culture you hope to achieve.

If you’ve achieved the positive work culture that you aimed for, it’s time to share this with the world. Share videos or highlight testimonials of what it’s like to work at your company. These real-world insider glimpses are great ways to attract potential employees.

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2. Invest In Your Employees’ Professional Growth

Lifelong learning is important whether you have just started working or have been working for years. Continuous improvement will ensure that you stay relevant and valuable.

If a company values growth and is willing to invest in you to upskill and take courses, it’s a really great benefit and “pull” factor. These courses will broaden and deepen your skills so you become the expert that your teammates can look to.

Our company has this Certification Day (inspired by HubSpot) where everyone puts down work for one day just to learn. These could be required courses which are essential for our work or optional courses that are helpful to our work. Note that the courses don’t have to be technical. They could be courses to improve your soft skills like communication and teamwork which are critical across industries. Also, the free food and drinks on that day are a great bonus too! On this day, we gather together for breakfast, lunch and teabreak. Which means that we also get to ask our management any burning questions we have. It’s great for bonding~

Investing in your employees’ professional growth is a great way to show that you value your employees and that you want to grow together with them.

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3. Show That You Care With Staff Benefits

Staff benefits is one way to show that you care for your employees. It also highlights what your company values.

Staff benefits such as discounted gym membership, health screenings and clinic consultations, show that your company values health and wellness. That you want them to be healthy and fit.

Staff benefits such as childcare subsidies, paid paternity and maternity leave and baby hampers, show that your company understands the difficulties and joys of being a parent and that you want to be with them at each step of their journey.

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4. Keep Your Employees Happy With More Work-From-Home Days

So this really depends on your industry and job role. However, if your job can be done digitally or remotely, you can consider having a few work-from-home days for your employees. This will help cut down electricity costs and save on your utility bills.

In addition, by allowing work from home, you’re essentially saying that you trust your employees to do their jobs even when they’re not in the office. Employees will also feel more fully rested since they can sleep in more and cut out commute time.

Working from home is something that’s greatly appreciated and valued by employees and having this will increase your employees’ happiness and productivity. They will also become more likely to stay in your organization for a longer time, especially since not many companies allow work from home.

You can also consider highlighting this in your recruitment ad to attract more talent to apply for your company.

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5. Boost Your Employees Energy Level & Focus With A Well-Stocked Pantry

Working for hours on end is very tiring. You’ll be mentally exhausted after working on numerous tasks, troubleshooting and solving problems.

Having some snacks and beverages will perk up your employees, especially caffeine that keeps people awake and boosts concentration. A well-stocked pantry ensures that your employees are well-fed, refreshed and satisfied. It’ll also help them to re-energize, recharge and refocus.

If your brand values health and wellness, you could stock your pantry with healthy snacks and beverages like fruits, nuts and protein shakes. Or you could be more holistic and democratic by allowing your employees to choose or vote on what they would like to have in the pantry. This could be done through a survey form or by collecting feedback directly from them.

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6. Shower Your Employees With Praises & Compliments

I know this sounds superficial. But believe me, praises and compliments really make people feel good.

For instance, I heard that one of my bosses praised me as “the silent hero” and it really made my day. Because I’m an introvert and I’m mostly working behind the scenes where I only face my internal team, there are times when I feel unappreciated unlike my teammates who face clients and thus, clients know them. But this compliment made me feel like I’m highly valued in my organization (all my efforts were acknowledged by the team). And this is something you should really do!

Be generous with your compliments when your employees did a good job. Let them know that you appreciate all the hard work they’ve done and all the value they’ve brought to the company. It means a lot when they know they’re valued and appreciated in the company.

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7. Lend A Listening Ear & Make Your Employees Feel Heard & Understood

Strive to be an empathetic boss. If you notice that your employees are distressed, talk to them and find out what’s troubling them. If it’s something you can solve, work it out with them.

For example, if an employee is overloaded with work, you can consider delegating some of her tasks to others or maybe hire another person to share the burden. If it’s a client that made her work difficult, ask her exactly what it is, how her experience is and figure out solutions together. Or even better, you can personally attend the meetings and defend your team.

Of course, I understand that clients are important to your business revenue. But you also need to be aware that your employees are important too. They’re the ones who are doing the groundwork and facing the clients almost every day. Therefore, they’re likely to know the nuances of each client (perhaps even better than you since they deal with them every day). Plus, it takes a lot of effort to onboard and train a new hire and it takes time for new hires to be familiar with your work processes. Your employees can be good mentors to new hires which will ease some of your burden too.

In addition to external problems, your employees might encounter internal problems too. If they suggest improvements or changes to work processes because they strongly feel that it’ll improve productivity and the way things are done, you can consider implementing them. This will make them feel like their voices and opinions are heard.

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8. Reward Your Employees With A Competitive Salary

More people are likely to find a new job or take on additional roles to keep up with inflation and rising cost of living. As an employer, you should be paying your employees the market rate in your industry. You should compensate them with how much they deserve and how much they’re worth.

If someone else is willing to offer a higher salary, your employees might leave and this is totally understandable and acceptable. The traditional concept of loyalty is no longer valued. People want to be rewarded with concrete benefits like competitive pay, opportunities for career growth, a positive work environment and more. To retain your talent, it is recommended to evaluate your salary ranges and pay grades for the various roles in your company.

Note that you’re essentially buying their time, talent and skills to grow your business. So it makes sense to reward them for their effort.

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Now It’s Your Turn

What other employee retention tips or strategies do you implement? How have they helped in preserving your talent?