Staff Retention Strategies

If you are not doing all you can to keep your staff happy and engaged, you may be at risk of losing your most productive workers to your competition.

You do not need to spend a lot of money to put a staff retention strategy in place. Here are a few things that can help you keep your staff happy.

• A well-defined career path – Most employees want to progress in their careers and like to know that there are opportunities available within their workplace to do so. Have discussions with your team about their professional goals and aspirations and how they can achieve them within your organisation. Offer mentoring and training programmes.
• Acknowledgement - Make an effort to acknowledge staff achievements and hard work. Most staff are more engaged and have a stronger feeling of satisfaction in their work if they feel that managers appreciate their contribution to the workplace.
• Trust – It can be difficult to be productive when someone is breathing down your neck while you are trying to go about your duties. Most employees like to feel that they can be trusted and relied upon to complete their work efficiently without being micro managed.
• Flexible work environment – Flexible work agreements are one of the most desirable elements of a work environment for staff. Giving your staff the opportunity to attend their children’s school activities or medical emergencies can make a big difference to an employee’s happiness within their job. Helping your staff maintain a healthy work and personal life balance can really increase loyalty to your company.
• Ethics – Most people would prefer to work for a company that they believe is good. It can be beneficial to promote ethics when interacting with customers and employees. Ensure your workplace encourages fairness and diversity.
• Communication – Well defined communication is one of the most important factors of retaining staff. Most staff liked to know what is expected of them and to have clear a clear job description or role within the company. Keep employees up to date when it comes to developments within the organisation. People feel more involved and part of the organisation when they are kept in the loop. Encourage employee feedback and ideas. When staff are involved with projects from the beginning they are more likely to feel connected to the outcome. Make sure to address interpersonal problems among staff members as soon as possible.

By using some of these strategies you can help encourage employee motivation and loyalty and lower the likelihood of losing staff to your competition.

The Benefits of Implementing a Performance Management Strategy

A performance management strategy is important for the improvement of the overall structural performance of a company by managing the performance of both teams and individuals to ensure the achievement of organizational ambitions and goals.

A successful performance management strategy can play a vital role in managing the performance in an organisation by:

• Making sure that the employees understand the importance of their contributions to the company’s goal.
• Ensuring that each employee understands their role within the organisation and what is expected from them.
• Identifies if employees have the specific skills needed to fulfil the expectations of their job.
• Facilitating effective communication throughout the organisation.
• Encouraging a pleasant and harmonious relationship between managers and employees.

Performance management strategies can have a positive influence on employee engagement and job satisfaction by

• Providing honest and open job feedback to employees
• Establishing a connection between performance and compensation.
• Providing learning and developmental opportunities when they are needed.
• Establishing clear performance objectives.
• Providing opportunities for career growth.

Establishing defined goals and regularly assessing individual performances can help you to establish any major skill gaps, therefore helping you understand where extra training may be needed. A performance management strategy can help you evaluate the willingness of an employee to take on higher responsibilities and provide feedback to employees on their current competencies and where they might need to improve.

A common misunderstanding among managers is that behaviour and activities are the same as results. An employee may give the impression of being very busy but may not be actually contributing at all towards company goals. They may not, for example, be fulfilling their job using the latest or most time efficient procedures.

A performance management strategy helps to identify organisational goals and the measures that need to be taken to achieve those goals. It also helps to gage the effectiveness or efficiency and means of attaining these goals.

The results from the information collected from a personal management system have a wide variety of uses. They can help with setting standards for comparison with best practices in other organisations. They can provide you with a consistent basis for comparison during internal changes or restructures. It can also help you to establish results during improvement efforts such as employee training or management development. They help to encourage fair and equal treatment to employees based on their performances.