Is Retention a Thing of the Past?

Lately it may feel as if employees leave jobs as often as the seasons change.

The pandemic and the Great Resignation has led much of the workforce to change direction, often leaving employers questioning if employee retention is officially a pipedream. But we can’t only blame the pandemic for this wave of turnover. There are quite a few different things driving employee behavior.

So what is causing employees to waiver? Well for starters, there is greater ease in job searching now than in the past. Employees with even the smallest inkling of looking for a new opportunity can find a breadth of employers looking to hire with just a few clicks of their smartphone. They can browse for “greener grass” within minutes. Additionally, the number of remote positions has increased since the pandemic. So many employers that may have previously been counted out due to location, are now competing for the same employee pool. Lastly, pension plans that rewarded longevity with a company have been replaced with 401Ks and Roth IRAs, making it easier for employees to change employers and simply transfer their retirement accounts accordingly. 

All of these things, plus the idea that changing jobs leads to higher pay over time is causing more frequent turnover within organizations. So IS retention still possible? YES! It won’t happen without work though. Here are some things you can focus on that may improve retention. 

Offer a Range of Opportunities 

If individuals are to consider staying at one organization for the long haul, they need to ensure that growth opportunities are present and internal promotion is favored. Being able to envision the avenues they could go within a company sets employees up to start at an organization with the intent to stick around for a while. 

Have a Strong Mission, Culture, and Corporate Values

These three elements are extremely important for employees looking for a single company to commit to. Your mission and corporate values should be wholeheartedly believed in by the organization. The demonstration of the mission and values should shine through in the organization’s culture. These three elements are important in retaining employees. This is because employees looking for an organization they can stay at will look for one that has a mission, culture, and values that completely align with their own. 

Invest in your employees

Investing in your employees shows them that you care about them and you value their efforts. Investing can be done in many different ways. Busting out the bells and whistles can be a great way to attract new talent or to excite existing employees. A fun event every now and then is great for employee morale. But what about investing in them for the long term? A great way to do this is by offering employee coaching. Coaching shows your employees you are committed to them. It offers them resources in order to grow their career how they desire. Confidential coaching gives them support to have tough conversations or work through issues that otherwise may have driven them to leave the organization.

Remain dynamic 

A large component of keeping employees invested in your organization is to stay dynamic. Be disruptive and continue to focus on growth as an organization. Employees are more likely to leave an organization if they feel the environment or trajectory is becoming stale. By focusing on continuous improvement, organizations can continue to succeed and evolve, increasing their likelihood of retaining employees. 

Retention is not a thing of the past. It is still very possible to attract and retain top-level employees. The difference is in the way you support employees after they sign on. Committing to the employees you have and showing them you value them can go a long way in keeping them onboard.

I’m Krista Ryan

My job is to help you learn a little, laugh a lot, and get clear on action steps for your success.

It may have taken a life changing event to shake me awake and decide I no longer wanted to live a comfortable life… I wanted to embrace the discomfort and live a life of courage and intention.

Connect with me: