Creating employee loyalty and longevity.
As expert recruiters, the Asquith team talks with thousands of employees and job seekers each year and this is what they tell us are critical factors to creating a workplace that attracts and retains top talent.
Values are aligned
The desire to work in an organisation that has the same vision is becoming more important than ever before. From an employer’s perspective, it’s important that current and prospective employees know your vision, mission and values. Discuss these at staff meetings, post it on your website and add it to your job ads. Not only will this attract like-minded candidates it can reinforce loyalty in current staff.
Relationship with manager
A manager who is supportive, listens, offers guidance and leads by example can drive exceptional performance in their people – and the contrary is true. Working with a manager who inspires is critical to keeping good staff onboard.
If a culture is toxic or suppressive, your high performers will move on to greener, happier pastures.
Career growth and development
People are motivated by learning and developing new skills and knowledge, especially millennials. Expose employees to new challenges and give them opportunities to grow. Recognise their progress and establish clear career paths so they know they’re valued and that their career will progress if they stay.
It’s reasonable for employees to expect a pay check, but money isn’t their only motivator. Develop retention plans that take this into account. For example, consider having an annual Consumer Index rise in pay, but also consider adding other things into the plan that they value. What do they value? Ask them! Having this dialogue will not only give you insights but it shows them you care about making them happy and want them to stick around.
- Flexible working arrangements
- Time off in lieu
- Working from home
- Access to gym or partially funded fitness programs
- Additional leave around Christmas to New Year
Again, talk to your staff about what matters most to them.
Recognition and feedback
It’s natural for most of us to want our achievements recognised. Organisations and managers who consistently and fairly recognise a job well done encourage top level performance. Recognition can include a simple thank you at a team meeting, an early mark, a gift voucher or team gathering.
Equally, it’s easier for people to succeed if they know what the benchmarks are. Knowing what is expected and knowing what success looks like allows people to meet, or exceed, expectations. Feedback, both formal and informal, guides employee’s development and identifies where they want additional support or greater challenges.