As the Great Resignation continues to sweep through the country, the number of jobs that were left voluntarily during 2021 reached a whopping 47.4 million. And, each job left by a professional represented significant financial and expertise loss for the employer who could not find a way to retain their teams.
As a small business owner, the chances are that you cannot afford to lose an employee who has been with you for years, has been trained in-house, and has played an active role in building your brand.
At the same time, retaining your employees can be tricky, especially as the competition gets fiercer by the minute. Luckily, you can boost your retention rate by creating a better workplace. But how can you do so if you are operating on a shoestring? Check out the simple tips below!
Focus on Building the Right Office Culture
If you are looking to learn how to retain your employees and implement a surefire strategy to reduce your employee turnover, you should focus on creating a better office culture. Undoubtedly, your focus should be on productivity, but you should also make sure your employees are encouraged to share ideas, make suggestions, take initiative, and collaborate with their colleagues.
Building the right office culture is not something that can be completed overnight. However, you can start seeing results within weeks!
Offer Development Opportunities
According to a 2020 study by the World Economic Forum (WEF), over 50% of today’s employees will need reskilling by 2025 to remain current and competitive in a changing job marketplace. But, even more importantly, most employees report valuing the availability of development opportunities as an essential factor in their employer choice.
As a business owner, you can create a win-win situation in which your employees can benefit from self-development opportunities and your business can enjoy up-to-date expertise. You can do all this and more by investing in training courses and development projects.
Improve the Office Physical Environment
When looking to create a better workplace, you should start by upgrading your office environment. While grey cubicles might have worked just fine before the pandemic, many companies are today offering more innovative workplace designs and hybrid work models. In turn, your employees will be looking for these perks.
No matter your budget, you can level up your office space by upgrading your lighting, reducing clutter, decorating with plants, and introducing collaboration spaces.
Offer Hybrid Work Options
If your employees can efficiently operate from the comfort of their homes, you should consider offering them the opportunity to work remotely for at least part of the week. This allows them to build a suitable work-life balance and become more productive while at work.
Just make sure to find a hybrid work model that works well for your business.
Ask for Your Employees’ Opinion
If you are unsure what strategies to implement to create a better workplace, consider asking your employees to share their pain points, desires, and suggestions. After all, during a day at work, they might be facing unique challenges that need to be addressed, but which you won’t be aware of unless you ask!