Finding those gifted employees is never easy, retaining them and keeping them from burning out can be even more challenging. Make sure your star employee is not eyeing the door, here’s three simple steps you can implement in your business to increase staff retention, boost morale and increase productivity.
1. Ask and Listen
This sounds like a no-brainer, but it’s more difficult than simply sending out a survey consisting of 5 ‘yes’ or ‘no’ questions once every 12 months to see how your employees are travelling. Instead, a more effective approach is to engage each employee and discover what it is they want to achieve in their role. What do they need from you to achieve their goals and ambitions? Is your company providing enough resources for them to do their greatest work?
According to surveys, high-performing employees value development opportunities more than monetary rewards, with a lack of growth opportunities and appreciation being the primary reasons for high performing employees leaving. To engage your high achievers, try fostering a culture that promotes learning and trying new things, keep them hungry with new projects and challenges.
However, you should note that not all employees share the same ambitions and goals, but you can still make them happy and more productive by listening to them. The solution could be something as simple as getting a water filter because the water from the tap tastes terrible or providing different snacks in the break room.
2. Differentiate your employment offering
Many businesses are now are offering employment benefits as part of their package for staff. Not only does this help your company stand out from your competitors, from the application process onwards, but it’s also a great way to retain your staff and keep them productive and healthy.
An Employee Assistance Program (EAP), for example, includes short-term counselling and referral services for employees and their household members, designed to help employees deal with personal problems that would otherwise impact their health, performance and wellbeing.
There are plenty of different packages available on the market, we recommend working with a qualified financial advisor to find the most appropriate program for you business and staff.
3. Help them give back to the community and promote wellness
If you could help the community while keeping your employees motivated and healthy, you would jump at the opportunity to do so, right? Every company should be involved in a charitable cause, that should be a given, but transferring the responsibilities over to the employees is a great way to get them involved and feel like a meaningful part of your organisation.
You could suggest setting up a committee where employees are able to decide which fundraisers the company gets involved in and how raised money is spent. Bonus points if it’s something that gets your employees moving and active.
For more information regarding Employee Benefits Solutions for your business, contact us today to speak to one of our qualified financial advisors