We live in an age where employee retention is a key goal for every organization. As the millennial generation forms more of the employee base across all industries, companies must adapt to their needs which are different from previous generations. In today’s world, “a job for life” is not a prime consideration for a growing number of employees who are more likely than ever to change roles or even industries if they do not feel suitably fulfilled in their workplace. Recruitment and onboarding costs for an organization can be extremely expensive, so it makes sense for employers to offer their workers tangible benefits that encourage long-term retention of their staff.
3 Key Qualities of a Great Workplace
Here are just three examples of how a workplace can truly become a great place to be a part of for both employer and employee.
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There is excellent two-way communication
All workers want to feel part of their organization and that their voice is heard. A great workplace is characterized by regular and effective lines of communication. Employees should be able to see the value of their work and how it is integrated into the overall company strategy. Managers should be open and honest about what is expected from an employee, and employees should be able to speak up when they have concerns or feel that working practices could be improved. One key way to ensure that the organization gains insights and knowledge from their workers’ perspectives is to use an employee survey platform.
This gives all employees the ability to have their voices heard and see how the organization responds to their feedback. When feedback loops such as survey platforms are used effectively, they can be an important way to ensure that the organization responds to the needs of its employees. They demonstrate that it is listening and actioning feedback that is a key way to ensure higher levels of motivation and engagement in the workplace.
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All staff receive competitive remuneration packages
While money is unlikely to be the sole motivating factor for all employees, it must be recognized that it is a key factor in retaining staff. If an employee can do a similar job for a different firm for a significantly higher salary, they are unlikely to stay where they are for a considerable amount of time. A great workplace will offer competitive salaries for all staff pay bands that are comparable (or ideally slightly higher) than those offered by competitors in the industry.
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There are opportunities for progression
Many employees want to see clear avenues for progression and career development in their roles. As such, employers who offer training packages and regular promotion opportunities for their existing pool of employees are more likely to retain them long term. Career progression is of paramount importance for driving staff retention over the long term.
A business that can demonstrate visible paths to career progression is also likely to attract staff seeking long-term careers with an organization. By ensuring that senior roles are advertised internally and employees have access to training to enhance their career prospects, the organization is visibly positioning itself as a place for career advancement and, in turn, a wonderful place to work.
