Employees appreciate perks – good coffee, an onsite gym, concierge service, and workout classes. But none of those things motivate employees to stay with an organization. And no one will quit because a company doesn’t offer those perks.
I won’t tell you not to offer yoga classes or to get rid of your video games. Just know neither perk is resulting in employee retention.
There are really just a few things employees need to stay with your company and do good work. And if you do those things consistently, you’ll see your best employees stay and excel.
Here are a few employee retention ideas:
Employee retention idea #1: Managers, get to know employees better. Ask what brought employees to your company, what would make them leave, what employees want to learn, and what type of work they really don’t want to do. And when it’s possible, remove responsibilities employees don’t want to do, and replace those tasks with things employees enjoy more. You can’t eliminate all aspects of a job that employees don’t like. But people won’t stay in a job for long that doesn’t let them do work they enjoy about 75% of the time.
Employee retention idea #2: Managers, meet individually with employees, twice a month, for at least 30 minutes, to discuss current and future projects. Give specific and balanced (positive and negative) feedback during each meeting. Even the most independent employees need regular feedback and one-one-one time with their manager.
Employee retention idea #3: Teach and coach employees, so they expand their skill set and approach challenges in new and different ways. Most employees want to learn and grow. Managers don’t have to do the training themselves, just ensure it happens.
Employee retention idea #4: Give employees exposure to the senior leaders in your organization. This includes: attending meetings where senior leaders are present; pitching ideas to senior leaders; and learning from people above the employees’ manager.
Employee retention idea #5: Give employees stretch assignments and the chance to learn new things. One of the greatest reasons for employee turnover is boredom and a lack of growth and development. You don’t need to rotate or promote someone to help them grow. Giving employees exposure to different departments and types of work will allow employees to expand their skill set.
Most employees want to work for a manager who cares about them, takes time to get to know them, and helps advance their career. These activities will take some time. They won’t take a lot of money. Perhaps have your next one-on-one at the foosball table or over espresso. But know that the time managers take with employees, trumps every perk, every time.