Preventing the loss of key talent in January

Alan Price – CEO at BrightHR

November 26 2015

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A new year is nearly upon us, and with that comes the perpetual thoughts of where is my life going? And do I need to make a change? It’s an age old story that often causes headaches for many employers, as disengaged employees look for new opportunities, which they believe will marry up with their future goals and aspirations. With signs of an improvement in the economy and job prospects, there is a general assumption that it is becoming relatively easy to gain a more appealing role, and because of this more and more employees are considering leaving their current positions. In light of this, it is vital that businesses place emphasis on staff retention, not only so they keep the best talent, but to also ensure recruitment and administration costs do not escalate. The ability to prevent the January blues from creeping in and retaining your staff requires taking active steps to strengthen the internal structure of your business. Below are three steps that could help you retain your organisations key talent into the New Year. Improving Communication When communication between employees and management dissipates, so to does the employer-employee relationship. Strong channels of communication are an essential component in business, as they enable employees to stay up-to-date on company policies including any changes that have or a due to be implemented. Communication also provides an opportunity for employees to air any grievances they have within their role or within other areas of the workplace including co-worker disputes. Often, such grievances go unresolved or escalate to a potentially damaging problem. Enabling communication in the workplace is a great way to avoid misunderstandings from occurring and will go a long way to ensuring your employees are happy at work. Take on board employees opinions This is often a missed opportunity for many companies, as they neglect to generate insight from their most valuable resource – their employees. On the whole, employees spend a majority of their time at the forefront of the business and thus have a deep understanding of what makes the company tick in terms of operational efficiency. Encouraging your employees to engage with the business through providing their ideas on what may make the company more productive, will be invaluable for both parties involved. Businesses are likely to find solutions to common workplace issues, whereas employees will feel more connected to the company, knowing they add value and that their knowledge and experience matters. Taking note of employees needs It is important to take a flexible approach to managing your employees as different employees have different needs, most notably within the area of working patterns and further training. Employees may decide to opt for flexible working due to varied reasons, and it is your duty as an employer to seriously consider each employees request and whether you can make it work within the parameters of your business. Taking the time to consider your employees needs will demonstrate that you are making the effort to integrate and keep them within the company. With regards to training, employees often enter the workplace to build and develop their skill-sets and thus look for opportunities to receive further training. If employers neglect to offer this, then it is easy for employees to become disgruntled and disconnected from their work. Training may sound expensive, but in the long-term when you weigh it up against increasing recruitment costs, it pays to invest time into your employees. Final Note Whilst there other suggestions to improve employee retention, the aforementioned three are perhaps the most prevalent to employers who are concerned about losing staff in the New Year. Finding the right mix of people for your business can be difficult, but retaining them doesn’t have to be, as long as you remain conscious of how your employees are feeling within their roles and take appropriate actions to ensuring a happy, productive and appreciated workforce.  For further clarification or advice, please call Peninsula on 0800 028 2420.                  

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