Establishing and Maintaining a Culture of Retention in Today’s Organizations
By Carol Gee
Regardless of the state of the economy, the best and the brightest will always be in great demand, making retention of top-notch employees a major challenge for all industries/ professions. The reasons that individuals voluntarily leave positions are varied. These reasons include changes in family dynamics, unsolicited job offers, or simply a desire to do something different. Decisions may also be influenced by such organizational dynamics as being passed over for a promotion or asked to do something perceived as unethical. While the decision to leave is frequently about the money, often it’s not. This does not mean that money is not important.
In truth, employee turnover can have serious financial and other ramifications on a company or organization. For example, departing employees often take with them valuable knowledge and expertise. Other inherent costs often include payout of unused leave time, the hiring of temporary workers, and the added cost of overtime for employees asked to fill in. Placing ads, interviewing, and hiring new employees also contribute to costs. Factor in the loss of productivity before an old worker can be replaced, as well as the lost productivity associated with getting new employees up to speed, and the financial impact of turnover soars.
So what can organizations do to keep employees from leaving? A simple answer might be to create workplaces that make employees to want to stay. The five practical tips below may go a long way toward accomplishing this.
Another way that companies may establish and maintain retention is to capitalize on the strengths they already have in place. In today’s organizations, age differences, life experiences, and ethnic backgrounds also tend to impact an organization’s employee retention goals. This is particularly evident in organizations where employees of varied ages and other demographics work side by side. For some employees flexibility is important, as is movement in their careers and compensation. For others, telecommuting, parental leave to care for aging parents, or in-house child-care facilities are important.
Granted, there is no perfect solution for all organizational problems. When it comes right down to it, the reason that employees stay at a particular organization is a no-brainer. They stay because they feel valued or feel that they fit. Still, offering a menu of options for scheduling, compensation, benefits, etc., tends to be a great motivator for establishing a culture of retention.
About the Author Carol Gee, M.A. has worked in education for 28 years in positions ranging from teaching to administration. Currently she is an editor and business writer at Goizueta Business School at Emory University. She is also the author of books, The Venus Chronicles and Diary of a ‘Flygirl’ Wannabe (Life Lessons of a Cool Girl in Training)
www.venuschronicles.net
Regardless of the state of the economy, the best and the brightest will always be in great demand, making retention of top-notch employees a major challenge for all industries/ professions. The reasons that individuals voluntarily leave positions are varied. These reasons include changes in family dynamics, unsolicited job offers, or simply a desire to do something different. Decisions may also be influenced by such organizational dynamics as being passed over for a promotion or asked to do something perceived as unethical. While the decision to leave is frequently about the money, often it’s not. This does not mean that money is not important. In truth, employee turnover can have serious financial and other ramifications on a company or organization. For example, departing employees often take with them valuable knowledge and expertise. Other inherent costs often include payout of unused leave time, the hiring of temporary workers, and the added cost of overtime for employees asked to fill in. Placing ads, interviewing, and hiring new employees also contribute to costs. Factor in the loss of productivity before an old worker can be replaced, as well as the lost productivity associated with getting new employees up to speed, and the financial impact of turnover soars.
So what can organizations do to keep employees from leaving? A simple answer might be to create workplaces that make employees to want to stay. The five practical tips below may go a long way toward accomplishing this.
- Begin by getting new hires off to a great start by ensuring that they have the equipment and other resources necessary for them to perform their jobs.
- If career development or educational benefits are lacking within your organization, consider the development of such programs in-house, work to develop programs with area colleges, or consider providing tuition reimbursement to those whom attend classes off-site.
- Regular Town Halls or staff meetings are excellent ways to communicate company goals and achievements. Ask questions and demonstrate interest in employees’ answers. There is no substitute for getting ‘face-to-face’ with employees on a regular basis and listening to what they have to say. For example, have some workers expressed a desire for more flexible policies, flexible schedules or more autonomy? If at all possible, take action based on what you hear.
- Many of today’s more successful organizations offer incentives tied to longevity. Such incentives or perks might include access to a company-owned condo in a specific locale for use when traveling; tickets to sporting or other events are also typical. Coveted office space and often coveted parking spaces are often based on tenure. Tuition assistance or free tuition for spouses and children of employees who have been employed for a specified number of years has resulted in increased longevity at some companies.
- Limit restructuring departments or sections to only when it’s absolutely critical. Constant restructuring can drive employees bonkers. Remember, every structure has its advantages and disadvantages.
- On the other hand, if restructuring benefits the employees by giving them more support, resources, or control over their work situations, then the changes can have a positive effect on retention. Likewise, make employees a part of restructuring plans or decision-making whenever possible.
- Investigate or develop new technologies that save time and increase productivity.
Another way that companies may establish and maintain retention is to capitalize on the strengths they already have in place. In today’s organizations, age differences, life experiences, and ethnic backgrounds also tend to impact an organization’s employee retention goals. This is particularly evident in organizations where employees of varied ages and other demographics work side by side. For some employees flexibility is important, as is movement in their careers and compensation. For others, telecommuting, parental leave to care for aging parents, or in-house child-care facilities are important.
Granted, there is no perfect solution for all organizational problems. When it comes right down to it, the reason that employees stay at a particular organization is a no-brainer. They stay because they feel valued or feel that they fit. Still, offering a menu of options for scheduling, compensation, benefits, etc., tends to be a great motivator for establishing a culture of retention.
About the Author Carol Gee, M.A. has worked in education for 28 years in positions ranging from teaching to administration. Currently she is an editor and business writer at Goizueta Business School at Emory University. She is also the author of books, The Venus Chronicles and Diary of a ‘Flygirl’ Wannabe (Life Lessons of a Cool Girl in Training)
www.venuschronicles.net
