Everybody wants to feel appreciated by their employer and when employees feel valued by their managers, it is likely to result in higher levels of job satisfaction, productivity and staff retention.
Retaining your most talented individuals is a challenge for any business; what can employers do to demonstrate that they appreciate a person’s efforts and enable them to hold onto crucial members of their team?
Make sure you recruit the right individuals into the business; not only do they need to have the right technical experience and be able to deliver against the requirements of the job role, they must also fit into the culture of your organisation.
Ensure you have goals in place for the organisation and know what skills you will need to achieve your ambitions. Communicate your vision to your team so they can buy into what you hope to achieve and can see where they can make a contribution.
Understand what each member of your workforce wants to achieve in their career and how the business can meet these ambitions. Consider departmental restructures or the creation of new teams to open up career progression opportunities for key members of staff.
Put in place a robust performance review programme with clear personal goals and rewards that are linked to your business objectives.
Have clear and open lines of communication; talking to your team on an on-going basis is essential and allows you to address potential issues before they escalate into a bigger problem.
Regularly review and benchmark your salary levels against other organisations or similar job roles in your industry but don’t make promises of pay rises or promotions that can’t be kept- this will only lead to ill feeling. Also, avoid using higher financial packages as a way to ignore other issues which may contribute to staff turnover.
Put in place rewards packages that are meaningful to your key team members; bonuses may be well received but would people welcome flexible working hours, increased holiday allowance or a contribution towards childcare costs as alternatives?
Make sure you recognise the contribution that people make to the business – positive feedback and acknowledging hard work go a long way to ensuring a feel good factor amongst your staff. Also consider introducing on-going reward schemes that offer instant recognition for achievements or outstanding work rather than waiting to recognise staff through annual appraisals or company awards.
Celebrate success. Whether it’s a new contract win or recognising a member of the team with a long service award, by acknowledging such achievements you will foster a culture of success which motivates and inspires individuals to strive to do their best.
Recognise that some staff turnover is necessary for any company to stay fresh and move forward; conduct exit interviews to understand people’s reasons for moving on and put in place measures to address any lessons learnt.
Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to speak to a member of our team about your recruitment needs.