Employee retention is an often used buzz phrase that gets batted around without much thought given to it. However, it’s an incredibly important aspect of your business. When you have to replace an employee who has left it costs your company in time, resources and money.
Because of these reasons it’s imperative for companies to work at keeping the employees that they have. Here are five employee retention ideas that every sales manager should know and implement.
1. Hire the Right People
Employee retention starts with the job posting. Your posting should stipulate the kind of candidate you want. Make sure that you include your company’s culture because culture is vital. If you hire someone who doesn’t fit in with the company culture, they will struggle to last. By talking about the company culture in the job posting the people who don’t like it will bypass your posting, and you’ll get only interested people.
The interview is your second stop gate to seeing if someone will fit in with your other employees and the company culture. If you don’t think that they will fit in, don’t hire them. For people to truly love their jobs they have to feel like they belong—and they won’t feel that way if they don’t fit in.
2. Foster Career Development
Many employees leave companies because they don’t think that there is room for them to grow, develop or advance. It is important therefore, to foster career development. Your employees should know that you are interested in their careers, and that you want them to grow and succeed. You should also make sure that there is training for them, to help them with their endeavours, because it will work to serve your company in the long run.
3. Be the Best
People always want to work with the best – the best company or the best boss. Companies that are seen as the leaders in their field are more likely to attract better prospective employees, and employees are more likely to stay when they know that they are at the top of their field. To be the best or to stay the best you need to have a good company culture – good values, and ethics. And as a boss you have to invest in yourself, and your training. Great bosses keep learning, growing, and developing themselves. Everyone wants to work with a great boss.
4. Train & Observe Your Managers
It is also said that “people don’t leave companies, they leave managers.” You might be the best company, but have terrible managers and that’s definitely a problem. Managers are your employees’ direct boss, and someone they interact with every day. If that interaction isn’t a positive one, then you will have a difficult time retaining employees.
To help keep employees for the long-term, invest in training your managers so that they learn how to lead in a positive way. Your managers should be good leaders that inspire their team. Make sure that you also observe your managers so you know if you have managers that are a problem.
5. Work/Life Balance
Out of all of the employee retention ideas this one will seem the most obvious, however, it’s something that many companies don’t embrace (or don’t embrace fully). Your employees are not machines.
They have personal lives, with stresses and struggles and commitments. It’s important as a boss for you to recognize that and to help make sure that your employees maintain a proper work/life balance. By doing this, you ensure that your employees stay with you because you are giving their lives that respect.