Have you ever wondered why your company is facing high turnover rates, or your employees just don’t seem to be producing like you know they can? Have you ever given a thought to your company culture? It could be killing your productivity rates and retention.
And now that the economy is recovering, employee retention has become a critical issue. Employees no longer feel they have to stay in an unsatisfactory job just to collect a paycheck. They’re starting to look for more. What is that “more”?
- Money. It isn’t just about the money. You need to think about what kind of benefits you’re offering and whether they fit your employees’ lifestyles and goals. And while too little money will definitely create high turnover, high salaries won’t make up for a lousy work environment.
- Fit. How a person fits into your company is critically important. Are you attracting the right people for each job? Some jobs are demanding (e.g. travel-heavy) while others are low energy. If you honestly explain each position and their positives and negatives, you’ll find people that fit. If you hire without that insight and honesty, you’ll suffer high turnover.
- Environment. As the baby boomers retire and Gen X and the Millennials enter management and high value positions, you have to change your mindset. These younger generations are motivated by growth, career opportunity and meaning. They want to feel that their workplace is taking advantage of their skills and that they are appreciated. They look for inclusive and diverse workplaces, and they want to do work they feel proud of.
- Development. Training and education have become one of the most desired employee benefits available. The Gen X and Gen Y workforce wants the opportunity to advance and make more money. They also want to make a bigger contribution, and they don’t want fall behind in a competitive, ever-changing world.
Your people are your greatest asset, if you can get them to stay with you long enough to reach their full potential. When your staff has longevity, they become more productive—they learn your products, your systems and how to work together. It’s up to you to get them to that point by creating a workplace they want to be in.
How do we know so much about it? We’ve been helping companies like yours find the right people for decades—and helping people find the right companies. Contact Synerfac to see how we can target and hire exactly the kind of people your company needs!