A Guide on How to Retain Employees in Your Organisation
Did you know that replacing an employee can cost between six to nine months of their salary? In today’s climate, that’s a hefty price tag that many organisations simply can’t afford. This makes building a positive company culture and retaining employees more important than ever.
While financial incentives like salary increases and bonuses are often top of mind when thinking about retention, there are many other initiatives that can have a bigger and more lasting impact. At Sereniti, we’re all about helping businesses boost employee satisfaction, train their teams, and support their wellbeing. We’re here to make sure your team feels motivated, valued, and fully engaged so they can perform at their best. Let’s explore our top employee retention strategies that help create a supportive and thriving workplace.
1. Refine your recruitment and onboarding process
Provide a smooth and responsive recruitment process
Your first interaction with potential employees sets the tone for their perception of your organisation. It’s crucial to make this a positive experience. Regularly communicating with candidates and managing their expectations throughout the hiring process is key. If there are delays or a lack of communication, candidates may not see you as an organisation they want to work for. Our experienced, professional recruitment team can act as your internal recruiter to manage the process.
Integrate new employees into your company culture
Make sure your onboarding process is engaging and welcoming for employees right from the start. It should not only cover the basics of their job but also introduce them to your company culture and how they can contribute and thrive in it. This is an important first step for employee retention. The training and support you provide from day one, whether in person or virtually, can shape their entire experience and career journey with your organisation.
Provide a mentor to new employees
Pairing a new employee with a mentor can really enhance their onboarding experience, especially when working remotely. This friendly face can be a great support system with work projects, but also finding their feet in a new environment.
2. Offer wellbeing benefits
Focusing on employee wellbeing– whether it’s mental, physical, or financial – benefits everyone. Introducing or extending wellbeing offerings can really boost employee retention. Initiatives like remote or flexible working, stress and mental health wellbeing events and fitness offerings (such as discounted gym memberships or lunchtime yoga classes) can make a huge difference. Recent studies show that flexible and remote working are some of the most valued perks for many professionals.
3. Improve your company-wide communication
Good workplace communication has always been important, but it’s even more crucial now with so many of us working remotely. Regular one-on-one chats, team check ins and consistent company-wide communications are vital. Your employees should be given the opportunity to bring you their ideas, questions, or concerns anytime – and feel comfortable doing it too. Leaders and managers should encourage open, timely, and positive communication while staying tuned in to their team’s workloads and job satisfaction.
4. Schedule regular performance reviews
Regular one to one meetings, as well as more formal performance reviews, are key to keeping your team happy and engaged. They offer the chance to give praise where due, provide constructive feedback, and discuss development needs and longer term career goals. This way, you can see how their future aligns with the organisation. At Sereniti, we help organisations establish appraisal processes and development plans through advice and hands-on support.
5. Introduce regular training and development opportunities
In addition to giving continuous feedback, an important factor of employee retention is identifying and supporting areas for your employees’ professional and personal development. When you invest in employee development, you’ll see them grow, gain new skills, abilities, competencies and build confidence, all of which will benefit your organisation. Plus, investing in development doesn’t always mean a huge financial commitment – training and development can take many forms and be cost effective.
6. Celebrate your employee’s hard work and achievements
We all like to feel appreciated for the work we do! Thanking employees can go a long way in making employees feel valued and have a big impact on how they feel about the organisation. Make sure to recognise their efforts and explain how their contributions benefit the business. Organising a more formal recognition and reward system within the organisation can have a big impact too, and they don’t have to be expensive.
7. Promote a healthy work-life balance
A healthy work-life balance is essential to the majority of employees for job satisfaction. Encourage employees to have clear boundaries between work and home life, especially for those working from home where separation can be tricky. Flexible working is important to many employees to support their work-life balance. Being supportive of flexible working requests can boost staff retention in your organisation, and as of 6th April 2024 employees can now make two flexible working requests a year. This applies to how long, when and where they work.
8. Offer flexible working
Many organisations recognise that some employees still prefer to work remotely, even though offices may be open. Offering flexible working arrangements can boost morale, improve work-life balance, and help retain employees. Flexible working can take many forms – remote working, compressed hours, flexitime – and can all help reduce stress and keep your team happy and committed.
9. Effectively manage change
All organisations face change, both good and bad. During these times, employees look to their leaders for reassurance and information. Consider how you make announcements – whether individually or in teams, in person or remotely, in writing or verbally – and think about the impact they might have, allowing time for questions. Mismanagement of change can often lead to reduced job satisfaction and resignations. Take a look at how we can help you deal with change in your organisation.
10. Encourage teamwork and collaboration
Getting employees to work together as a cohesive and productive team is important for both organisational success and individual job satisfaction. Encourage team participation and make sure every voice is heard, giving everyone a chance to contribute ideas and solutions. Understanding different working styles is key to building a strong team, and there are plenty of tools to help with this.
11. Carry out employee surveys
Using employee surveys can be a useful tool in understanding how your employees are feeling about their role and the organisation.Perhaps your organisation has gone through a large change, or the general morale feels low in the office. The key is to act on any issues that arise from the information you gather and get your team back to feeling their best at work.
Where to start
We hope our employee retention strategies have given you an idea on where to start. If you’re struggling to take the next step contact our team for a no obligation chat so we can understand your current situation and support you with your employee retention.
Or learn more about our services here.