10 Employee Retention Tips for the Modern Workforce
Jacob Dayan, CEO and Co-founder, Community Tax
The modern workforce has changed dramatically over the past two generations. Gone are the days of stuffy offices, strict hours, and stringent dress codes. And good riddance! The modern workforce is far more concerned with finding jobs that are personally fulfilling, enjoyable, and rewarding both in and out of the office. According to Gallup, only 32% of workers report being actively engaged in their jobs - and those who are not engaged and satisfied are far more likely to leave. If your company struggles with keeping long-term employees, you might ask yourself what your office is lacking that your employees can find elsewhere. Here are some great tips to help keep your workforce engaged, productive, and happy, so that they rarely wonder if the proverbial grass is greener at another company.
Tips for Creating a Happy and Productive Environment
Train and mentor new employees – Ensure that new team members never feel like they are left to figure things out on their own. Feeling unsure at work can be extremely stressful. Connect new hires with mentors they can go to with any questions. Encourage mentors to take their mentees for lunch or a long break on occasion so they can really talk about any issues or concerns the new hire may have. Knowing that someone at work is personally invested in helping you succeed and fit in goes a long way toward making you want to do both of those things for yourself!
Offer competitive benefits and perks - It can be hard to stay competitive with salary when you are trying to grow your company - but perks and benefits are increasingly valued more than a pay raise, according to Glassdoor. Employees seriously consider 401k contributions, health benefits, vacation hours, flexible schedules, and parental leave when thinking about switching jobs. Offering some truly great perks not only makes it hard for other companies to catch the eye of your employees, but can also increase employee satisfaction and loyalty toward you.
Have unusual perks – While the benefits listed above are really important, don’t underestimate the value of smaller and more creative perks. Donut Mondays, office yoga, walking meetings, an in-office “happy hour,” chair massages, or even a card or Yahtzee tournament can bring life to your office and help people truly enjoy being a part of your team. This resource from Austin Benefits lists 101 cool perk ideas you can implement in your office.
Create incentive programs – Give your employees added incentives for reaching important business goals. Work trips and monetary bonuses are fantastic if you can afford them, but smaller incentives like a dedicated parking space, work-from-home hours, or bonus vacation days are excellent ideas that cost you very little.
Encourage out-of-office coworker relationships – Encourage people from your office to spend time together after work and on weekends. This can go a long way to creating friendships and bonding coworkers together. When thinking about changing jobs, leaving friends behind can be a strong factor in deciding to stay. Unofficial events like happy hour, trivia night, having people over to watch the game, or forming a team for local intermural events are all ways to get the friendship ball rolling.
Establish anonymous feedback channels and act on them – If you really want to know how your employees feel, they need a way to anonymously share their thoughts. Even if you tell them you would like honest feedback, most people are hesitant to say how they truly feel unless they can do so anonymously, as this article from the University of Pennsylvania explains. Use these channels to gather thoughts and ideas after major projects are over and use the information to improve the process. If your employees see that you take their anonymous suggestions seriously, over time they will become more willing to voice their thoughts to you in person.
Recognize employee successes – People want to feel valued and enjoy being recognized for their efforts. Small things like department emails that highlight someone’s recent achievements, shout-outs at department meetings, or even a bulletin board where you can post positive client feedback about individual employees are all easy ways of making sure your employees know you recognize and value their efforts. SnackNation has a great list of thoughtful employee appreciation ideas to implement this year.
Check in with employee career goals – When employees know you have a vision for their growth within your company and can clearly see that vision for themselves, they are less likely to grow restless and look for opportunities to grow elsewhere. When they start at your company, take time to show them the possible career paths you envision and describe clear steps for moving along that path. At regular performance reviews, revisit the path and goals that have been laid out and adjust it according to their accomplishments. This shows that their efforts really do make a difference to the company and to their role within the organization.
Be flexible with your work environment - More and more work can be - and often is - accomplished from home or other remote locations. Working from home is sought-after incentive that is becoming increasingly prominent, and the Harvard Business Review says working from home actually increases productivity. This type of flexibility allows employees to have a more fulfilling work-life balance and can alleviate family-related or other stress that can carry over into the office and decrease productivity. Focus on the fact that work is getting done and try to be as flexible as possible about when and where it is getting done.
Provide free food, coffee, and other snacks – Free food is a universally appreciated gesture, and having coffee and snacks regularly available to your employees shows that you care about their comfort and are happy to take care of them. The expense is minimal and the good feelings it creates toward the company are invaluable!
Happy Workers = Retained Workers
When people feel valued and cared for and have goals and a healthy work/life balance, it is amazing what they can accomplish. Money is always great, but many people realize that money doesn’t equal happiness. More and more people will sacrifice some salary for a workplace they truly enjoy being a part of - and they may jump ship when they are miserable. Creating an environment that is enjoyable and beneficial to your employees will increase employee retention, productivity, and your bottom line.
About the Author: Jacob Dayan is CEO and Co-founder of Community Tax, a Chicago-based national provider of tax resolution, tax preparation, bookkeeping, and accounting services. He is an expert in business operations and has hired teams from all across the country. Jacob attended University of Michigan’s Ross School of Business and Mitchell Hamline School of Law.
