7 Ways to Embrace the “Great Retention”

Posted 6/16/2022 in Trends by Jen Lyons

employee retention

Over the past two years, we’ve all heard the Great Resignation mentioned. Employees are leaving their jobs at an unprecedented rate, and the trend is persisting even as employers are becoming increasingly aware of the issue. At Candidate, we believe employers have the power to support employee retention, even in unprecedented times. Here are seven ways to ensure your company experiences a Great Retention during this worldwide Great Resignation.

1. Prioritize employee retention.

You know how much harder it is to attract new customers than to retain your existing ones. The same is true when it comes to employee retention. You already have exceptional talent on your team, so your best bet is to find out what they need from you and give it to them. Additionally, put effort into marketing directed at your current team—share documents and give presentations highlighting the unique benefits of working for your startup. Show them why they’re already in the right place, and prove that staying with your company is the right choice.

2. Listen when your employees tell you what’s important to them.

The Great Resignation isn’t a random occurrence—it’s the result of dissatisfaction with everything from low wages to a lack of COVID-related safety precautions. Members of the workforce are openly sharing what they care about, and you can retain your employees by prioritizing what they have to say. Create opportunities for them to be heard and find out what pain points they’re experiencing. Once you’ve figured that out, adapt to fill any gaps, and emphasize to your team that their needs are being met by your company.

3. Connect your team with your mission statement.

We’ve said it before, and we’ll say it again—today’s workforce cares about values. Your employees want to feel connected to something bigger than themselves, and they’re looking for synchronicity between their own values and those of their employer. Your company’s mission statement should highlight its values, and the daily grind should reflect that mission. Show your employees that your startup stands for more than just profit generation. In order to align with the values of today’s workforce, it should prioritize social, political, and personal justice. Leverage your mission statement to remind your team why they chose to work for you in the first place.

4. Provide clarity of vision for where the company is headed and the impact it can make.

It’s not enough to clock in and out each day—employees want to know their work is contributing to shared goals. Be transparent about your company’s vision and how you’re working toward it. Reassure your team that they are valued contributors, and provide real-world examples of the impact they’re making. Make time to highlight the successes and wins of individual employees, and ensure you’re creating a structure that embraces recognition of the contributions of your team.

5. Practice good leadership.

Leadership sets the tone for the entire organization. In order to maintain a great company culture, it’s important that you keep your finger on the pulse of what your employees expect from leadership, and put those expectations into practice. Make sure you’re not skipping virtual meetings—in the age of remote work, virtual meetings are key for connecting with your employees. Find fun ways to engage your team and get to know them better. Prioritize effective communication, and follow through on your promises. Most of all, listen to any feedback you receive.

6. Prioritize your employees’ mental health.

Today’s workforce cares a lot about mental health. Honor this value by coming up with ways you can support your employees’ mental health and well-being, while demonstrating you care about the whole person. Be open-minded about solutions. Avoiding employee burnout is a great way to retain your current talent, both because they’ll have the capacity to keep working for you, and because they’ll feel valued and choose to stay rather than seeking out a position at another company. Check in with your employees regularly to gauge whether they are burning out. Be open to transparent dialogue and feedback and dedicated to finding solutions together. 

7. Provide flexibility.

The remote-work era has proven that most employees can get their work done at home just as effectively as in the office. Give your team the option to work remotely at least some of the time, and consider allowing them to set their own hours when possible. Make it clear that you value work-life balance.

You’re not helpless in the face of the Great Resignation. By taking the steps above, you can retain your employees while also improving their workplace experience. Put in the extra work to ensure your employees know they’re with the right company, and save yourself the headache of having to replace exceptional talent.

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