Top Workplace Retention Factors to Consider in 2022

Studies show that nothing good comes out of high turnover in the workplace. Not only can this hurt the bottom line, but it can have a negative impact on the people that do stay at the company.

Instead of feeling frustrated with the people left at your company that are under higher rates of stress and likely overworked, it’s time to figure out the top workplace retention factors that can help your workplace flow more smoothly. Don’t assume the people working at your company will continue working there if you aren’t actively trying to keep them there.

Continue reading, and I’ll walk you through some simple yet highly effective employee retention best practices to make people want to stay in their position or advance at your company.

Help People Reduce the Likelihood of Employee Burnout

Men and women continue to feel burnout more and more as responsibilities at work and in their lives continue to weigh them down. In fact, a study by McKinsey said one in three women have considered downshifting their career or leaving the workplace within the past year.

You still need things to get done, but how do you keep from overworking your employees so you can reduce burnout and keep more people at your company working happily? The American Institute of Stress says job stress costs companies in the U.S. over $300 billion each year because people are so burned out, have low job satisfaction and are stressed.

Let’s get into it how you can reduce this for your workers.

Don’t Glorify Overworking

Some workplaces have a culture of overworking. And if you don’t overwork then it means that you don’t truly care about your job and the work you do. People will often do more work than they feel they should because they don’t want to be the odd person out or seem lazy.

Commend people for doing a good job in a reasonable amount of time and don’t celebrate extreme work habits. Employee development is important, but you shouldn’t try to develop them into workaholics.

Involve Family with Work

Having people’s families involved with work can be a great way to help people see work as a good thing vs something they have to do. You could have a wall where people could put their kids’ artwork or even have a work picnic, making it enjoyable for your workers and their families. When the family is happy, it’s much easier for your workers to be happy which means high job satisfaction.

Keep an Eye on Employee Workloads

Don’t expect people to reduce their hours if they are the type to overwork themselves. You might need to reduce their hours for them so they aren’t overworking and making themselves feel like they are worn down. People love companies that help them obtain a good work life balance.

Make It a Positive Thing to Use Vacation Days

Many people don’t use their vacation days each year—even paid vacation days. Some people choose to work and just take the money from the vacation days. While you might be happy that your workers are getting more done, they might not be. If people don’t take vacations, their productivity suffers and you’re more likely to lose them to another job.

Consider Remote Working Options

Not everyone can work remotely or wants to work remotely. Even so, there are some people that would love the opportunity. Instead of making it a one size fits all deal, you could find out who can work remotely and who would like to work remotely. The extra time they save commuting to and from work might go to something else they enjoy more than hanging out in rush hour traffic jams.

Implement a Workplace Wellness Program & Competitions

When people feel better, they work better. Without energy, it’s difficult to get anything done without feeling sluggish. If you have a workplace wellness program and competitions in place, people are more likely to get with it and do something to make themselves feel better.

Find Out What Makes Your Employees Tick

Doing exit interviews are a great idea to help you figure out the best steps for an employee retention program. It can help you figure out what you could have done better to help your employees stay. However, it would be even better if you were able to keep them in the first place instead of saying goodbye to a disengaged employee.

As your company grows, it can be a challenge to figure out what works best for everyone. But the truth is that no one is exactly the same and different people need different things to stay at companies for a long time. Instead of trying to make people stay with incentives and perks that don’t work for them, why not ask them what makes them happy to be at their job?

If people don’t seem to know what to say, you could always try giving them options. You can ask them questions like:

Would you rather have more paid time off, or would you like more bonuses? What could really show you how much we appreciate you?

Asking things like this can help them open up and show that you really care about getting them to stay in the position and to be happy with the work they do.

Keep Your Pay Competitive

If companies similar to yours are paying more money, you’ll have a difficult time keeping people at your company.

No matter how well you treat your employees, how big your juice bar is and how many company retreats you have, if your pay doesn’t say you appreciate your employees, they will look for work elsewhere.

Having proper compensation packages in place will help you reduce your employee turnover rates. Turnover rates cost your company much more than it would if your company paid people a competitive rate.

Say Goodbye to Micromanagement

When you can see the big picture, it is easy to want to tell everyone what to do and how to do it. While this might be your right as a boss, it might not be the best way to get people to operate at their best.

If you want truly engaged employees, let people set their own goals that work with the company’s overall goals. Let people see you trust them by letting them start some of their own projects if that works with your business model and you’ll see employee engagement skyrocket.

Lay Out a Career Path

People might not be aware of what opportunities are available if they stay with your company as far as career advancement. If they think they are stuck in the position you hired them for, they might not want to continue working there. Many people jump to another similar company because a job opens that is at a higher level—and paycheck—than what they have currently.

Most people don’t want to try to get another job if they don’t have to go elsewhere. If they enjoy their job and they see where they can progress, it’s less likely that you’ll find yourself sitting across from them at an exit interview.

Have Mentors in the Company

Some people that you hire into your company might feel like they’ve arrived and don’t need help, but that’s very few people.

If you have mentors available to help people grow to the next level, they’ll be much happier to stay at your company to learn and grow. Having a relationship with someone that is helping them could be a big reason people decide to continue working at your company.

Do Something with Employee Feedback

There are a lot of companies that ask for employee feedback, but the problem is that many of them don’t do anything with that feedback.

When people share things with your company that they feel would be helpful and you pay attention and do something because of it, it makes them take ownership and want to do better with their work.

FAQs

Wrapping Things Up

There is no magic want to wave over your company to ensure you retain all of your employees. In fact, you could do everything “right” and still find yourself reeling from employee loss.

The above points and advice can help you do better in this area, and the more effort you put into it, the more you’ll notice people start to stay instead of running for the exit.

If you need more help with HR and other similar topics, make sure to stick around and check out the rest of the site for helpful information.