Recession, what recession?
Why am I still losing employees?
Even in difficult times, good people are mobile. If they aren’t getting what they need, they will leave. How can you retain your employees?
- Make effective selection decisions
Get it right at the outset to make sure you have the right fit. Profile the role and the type of person you need so that everyone involved in the selection is looking for the same things. Carefully assess skills, competence and experience of the candidate. Check for cultural fit. Be clear about the role and don’t oversell. Be sure to keep promises made.
- Pay attention to induction
A proper welcome gets things off to a good start. Make sure the new hire has a desk and is connected. Recap on the role, introduce the team and explain how they work and connect. Explain the competencies and behaviours you are expecting. Explain company policy, systems, processes and facilities. Agree goals and expectations for the first 90 days. Allocate a “buddy” to help them settle in quickly.
- Use a probation period effectively
Review the role and short-term goals set before the end of any probation period. Openly discuss achievements, improvements and development areas. If it isn’t working, don’t put off a difficult conversation: tolerating poor performance alienates good performers.
- Develop performance
Use a performance management cycle effectively, that is, set goals, review them regularly, have formal sessions for two-way discussion and feedback, and plan for future development. Learn to recognise potential talent and discuss ways of harnessing it.
- Reward fairly
If reward budgets are tight, employees will cope if they know decisions are being made using a framework that is fair, reasonable and transparent. Make sure your rewards are aligned to your business plan and longer-term strategy and communicate this. Use simple and cost effective ways to recognise extra-ordinary performance.
- Communicate, communicate, communicate…
Informally, formally, individually and in teams. Over and over. Communicate the company’s vision and strategy: make it relevant and keep them posted on company performance. Connect them to like-minded colleagues. Share knowledge. Tell them about developments in the business and share company and market news.
- Check your style
Demonstrate your values consistently. Be open and fair. Give honest feedback. Acknowledge successes and remember to say thank you.