What really makes an employee stay?
As Aristotle said, Pleasure in the job puts perfection in the work or more simply a happy team is a productive team. This is great news for SMEs also as retaining employees is far more cost effective, allowing your business to grow rather than your hiring costs growing.
A 2018 Harvard Business Review survey of employees echoed this, sharing the reasons employees will stay at their jobs and much of this is down to job design. Today we hire great talent and help them thrive and grow, not force them to fit a mould we have set. With many reasons people stay in companies we wanted to explore these.
31% – Work is enjoyable
With the lines between work and home life becoming more and more blurred it is important that people enjoy their work. Managers and business owners should work to ensure that roles are built around their employees positions to achieve big successes.
33% – Used my strengths at work
Ownership within roles is very important for employees. Taking the time to learn what your employees’ strengths are will help you as a manager understand how to empower them and ensure they are happy. For example, people who enjoy problem solving may be perfect to lead brainstorming sessions at work.
37% – Gaining skills and experience to develop their careers
Training and empowering your team can help you retain them. By encouraging your team to continually learn you will ensure that they see value in what they are doing. If you have limited budget perhaps you can allow them to take time to study a subject online.
Through empowerment and development, you can ensure that your team is happy. Small changes to your management style and learning more about your team can ensure that you can reduce attrition and build meaningful working relationships.