Employee retention: Should I stay or should I go?
Posted on 29th July 2024
It’s been a while since the iconic song from The Clash was in the charts, but it’s still a good question.
A recent survey of HR decision-makers found that over half believe employee retention is the biggest challenge facing employers. Of course, there are other concerns too, such as pay and work-life balance.
For most people today a lifelong career with one employer isn’t necessarily something they expect or choose. Employment experts say rapid change means people must instead become lifelong learners, ready for multiple career changes.
It’s probably healthy for employees to explore opportunities but there are benefits to taking a long view too.
So, how long should employers and employees expect their partnership to last?
Here are some more good questions to ask.
Is personal growth supported? When people feel they’re in a rut it isn’t good for employers or employees. Nobody will do their best work under these conditions. However, people look for different things so it might not only involve training, promotion and pay grades. Employees value companies that help them achieve personal as well as workplace goals. Challenges and opportunities for personal development come in many shapes and sizes. People are more likely to stay and grow with employers who take a broad view of learning.
Are employees engaged? When employees start to lose touch with their employers, it can be difficult to rebuild the relationship. Taking staff appraisals and objective setting seriously helps. It’s an ongoing process, not a once-a-year exercise. It’s a quick and easy way to identify opportunities and issues. When the intention is genuine it benefits everyone and helps to build long term relationships.
Can employees progress? We’ve all heard the term ‘dead-end’ job but progression can mean a lot of things. Some employees are very happy in a job they understand and feel they do well. They might not want to move on. Instead, their progression could be as an employee spokesperson or social club organiser. Equally, for people who are growing and enjoying new opportunities, there’s no reason to move to a new employer. Allowing space for different types of progression and reward is important.
Are career expectations shared? There isn’t a schedule for staying in a role but it’s worth discussing what both employers and employees expect. Individuals might have specific career goals in mind. Employers might have different ideas about career and personal development and making the most of internal talent. The important step is to match them together wherever possible.
Is uncertainty managed? Change is a given these days, from new technologies and working practices to market conditions. This might make employees more or less inclined to stay where they are. If people feel engaged in their roles and well informed there’s a strong case for remaining. Afterall, the grass isn’t always greener somewhere else.
Is happiness important? It’s difficult to measure, but happiness is certainly a contributing factor. Can employees consistently say they’re happy in their roles for a month, a quarter or a year? It’s a good indicator of whether they are likely to stay or move on. However, changing to a different role might be all that’s needed to give them a new interest.
With more than 22 years’ experience Ascendant Recruitment can help find your next job or attract and keep talented employees.
Share this post: