Employee retention is a critical issue for any organization, as it can have a significant impact on productivity, morale, and overall performance. High turnover rates can be costly, both in terms of the financial and human resources required to find and train new employees. Therefore, implementing effective employee retention strategies is crucial for long-term success.
The pandemic has given employees a chance to reflect on what is truly important to them at their workplaces. As such, we have seen an ongoing trend in which employees are resigning from their jobs.
As an HR professional, I have seen many companies participate in various recruitment methods trying to attract top talent but I don’t see companies trying to RETAIN the talent that they already have as much.
While the focus has been on attracting new talent, it would be beneficial to evaluate what it would make current employees stay. Now employees are interested in more than a high salary and a benefits package. Employees want to feel valued, supported and appreciated.
Keep reading for some tips on how to retain your top employees...
Both stay interviews and exit interviews identify factors that drive an employee’s morale in the workplace with the main difference being timing of the interview. Implementing either of these interviews presents the opportunity for employees to express their opinions and give feedback about what they like (or dislike) about the job. But which type of interview has the biggest impact?
While both interviews have pros and cons, stay interviews focus on current employee retention, allowing employers to proactively seek an employee’s feedback before they decide to leave the company. As current employees are those who managers have invested the most time and resources into, it makes the most sense to communicate situations that could benefit their commitment and engagement.
Stay interviews are conducted periodically with employees during their employment. These interviews help managers to identify specific reasons why current employees are continuing to work for the company or potential concerns that employees may have. A few benefits of stay interviews include;
Although current employees may be cautious about reporting negative information, conducting stay interviews shows the employee that management values employee feedback. This open communication can often result in the employee sharing what motivates and engages them and what could be done to engage them even more. Exit interviews may be more valuable getting out negative opinions, but after the employee has handed in their resignation letter, it is likely too late to make any meaningful changes to retain that employee.
Bill 32, proposes to amend Alberta’s Employment Standards Code and Labour Relations Code.
The purpose of Bill 32 is to support economic recovery, restore balance in the workplace, and get Albertans back to work.
The Goal is to provide employees and employers with clearer and more transparent rules promoting fairness and productivity in the workplace.
Have you been thinking about starting a mentor program?
Doing so might be the closest you will get to making a business decision that has strictly a positive impact. Creating a mentorship program is a great way to empower current employees and even increase employee satisfaction and retention. Mentoring will help build leadership among current employees by encouraging the personal and professional development of a mentee by sharing knowledge, expertise, and experience.
Gossip… It is one of the quickest ways for a workplace to lose employee morale. So what are your options as an employee and an employer when it comes to dealing with gossip in the office?
Keep Reading to find tips on how to deal with gossip as an employee and as an employer!
Documenting employee discipline does not have to be a negative experience for you, your employee, or your company. Discipline can be a positive force that helps guide and drive an individual to their full potential. But for this system to work, managers and employees will have to work together to overcome obstacles and achieve goals. Steps will need to be documented appropriately, and both managers and employees will need to be consistent within their approach.
This post will be updated as there are changes announced.
Government of Alberta website: https://www.alberta.ca/coronavirus-info-for-albertans.aspx
Government of Canada website: https://www.canada.ca/en/employment-social-development/corporate/notices/coronavirus.html
Paid-Job Protected Leave