The Great Resignation – Part 2
In The Great Resignation – Part 1, we looked at the reasons and factors behind why businesses are experiencing an increase in resignations. In this article, however, we take the opposite approach and look at ways to encourage team retention.
An increased number of businesses are aiming to become an Employer of Choice. We thought we’d share with you a number of strategies that might help you achieve this status, as well as assist you to avoid becoming a causality in “The Great Resignation.”
Strategies to help you prevent The Great Resignation at your business
Reward and Recognition Program
Many Employees are driven by initiatives (both monetary and non-monetary) that a business develops outside the traditional remuneration package offered within their employment contract.
Workplaces should look to implement a formal Reward and Recognition Program or a Bonus Policy into the business to encourage Employees to go above and beyond their normal day to day activities whilst simultaneously being rewarded for their efforts. Considerations around this might not only relate to achievements but to significant milestones and anniversaries within the business. Combining these different aspects can garner a stronger internal culture.
Milestones and achievements to consider celebrating as part of a program include:
- Client testimonials
- Google reviews
- Employee of the month
- Expectational performance
- Achieving KPI’s
- Birthday acknowledgements
- Work anniversaries
- Completion of large projects
- Business achievements
Initiatives to recognise the above include:
- Bonuses
- Gift vouchers
- Time off from work
- Additional annual leave
- Gym memberships
- Discounts at afflicted businesses
- Verbal and written acknowledgement individually and within a team environment
Employee Engagement Surveys
No one likes to do a survey that is meaningless, takes a significant amount of time and then not have the outcomes reviewed, discussed and implemented.
Implementing an Employee Engagement Survey with a cultural focus can identify ways in which businesses are working well and not so well. It’s a tool that can enable business owners the opportunity to implement change, develop current practices or work out new ways of doing things based on the feedback.
Understanding an Employee’s opinion is just as important as having your own. It’s a different insight that an Employer may not have to an area of their business.
Gathering information and driving change; allow Employees to see that action is taking place based on their feedback which in turn, encourages them to continue to provide from a continual growth perspective.
Restraint of Trade
First and foremost, ensure all Employees have a relevant Employment Contract, then within the contract make sure there is an appropriate restraint clause.
This might help protect your business and make Employees reconsider leaving for a competitor. This clause may make an Employee reconsider leaving the business and or what rules and regulations they have to adhere to post employment.
Career Development
Many Employees like to know that there is opportunity for development within the workplace. Career progression is an important factor to Employees. Having avenues to gain further training and development either within their existing position or a position they may hold in the future encourages Employees to commit to the business.
Employers need to continuously focus on ways to retain and upskill Employees. No longer can an Employer expect that Employees will remain committed to the business if all they are doing is simply providing them with a ‘job.’ Given the current climate where in, there are several vacancies across several roles and several industries.
We know that there is a lot to take in here, some of which might sound too difficult to implement. That is why we are here to help. We understand these pain points and want to make your life simpler.
Contact Now Actually for strategic support in aiming to avoid ‘The Great Resignation’ within your business.
