It doesn't take a rocket-scientist to understand why employee retention is important. If you're in sales, you know how painful high turnover can be.
With that said, hiring the right people is something that takes a lot of time, effort and energy. Once you find the high-quality hire you are looking for, you may think your work is done, but it’s just beginning.
Getting a new person onboarded properly is a highly involved process that can put a strain on company resources. Similarly, a lot of work also goes into supporting and motivating your new hire as well helping them achieve their goals.
As you can imagine, it can be quite painful if your work goes to waste after a new hire doesn’t stay on board long enough to produce so that the company can get a return on their investment. The idea of going back to the drawing board to find someone else is daunting.
This is why employee retention is important.
As a leader, you want to do everything you possibly can to ensure that your new hire sticks around. Here are some simple things you can do to ensure you increase employee retention.
Why Employee Retention is Important and How to Increase It
Provide Structured New-Hire Training.
Don’t assume that your new hire knows everything. A key to retaining your new hire lies in ensuring they feel they are on the path to success. Providing them with structured new hire training, be it one-on-one or in a group setting will help with retention.
Keep Them Motivated.
Motivation plays a big part in employee retention. If your new employee isn’t motivated to produce and actively participate in daily activities, all of your hard work in onboarding and training this person has been in vain.
The moral of the story? Do everything you can to keep this person excited.
Offer Them the Opportunity to Continue to Grow.
Humans have a natural need for growth. Feeling like you’re stagnant impacts performance. Having the opportunity to grow, both personally and professionally can help keep a person motivated.
Now, you don’t necessarily have to mention promotions right off the bat. But, offering the right mentoring and coaching will help with your retention and keep employees motivated to grow with your company.
Are you still having doubts as to why employee retention is important? Consider this: the environment you work in has a profound impact on you. There is a reason you work where you work.
Would you feel productive in an environment that was disorganized, lacked direction, provided you with no motivation, and gave you no room for personal or professional growth? Probably not.
Have any other ideas why employee retention is important? Let us know in the comments!