Five Ways To Keep Your Staff - Top Tips From Moneypenny

According to the Bureau of Labour Statistics, people stay in jobs for, on average, 4.1 years. And recruiting new employees is a long and expensive process, which affects the whole business. The solution is for companies to retain, engage and empower employees, making the work environment and experience as positive as possible, so people are less likely to want to leave.
Ceri Henfrey, Chief Operations Officer at Moneypenny, the global outsourced communications company with very high employee retention rates, offers five ways to hold on to your top talent.

1. Hire the right people from the start

Hiring the wrong people can have a huge impact on your business. Not simply because they may be the wrong person or in the wrong role, it is the ripple effect that they may have on your other employees if they are low on morale.

Whilst roles may need to be filled quickly it is critical to spend time identifying what the role really does require, what skills are must-have but also equally importantly, what are the must-have characteristics and attitudes for the position and the company.

The wrong person in the wrong job will get quickly disillusioned and move on, wasting your time and your money. Reassess your hiring strategy and ask yourself if you’re asking the right questions.

2. Support, review, develop

From the very start, it is important to invest in your people, from a proper onboarding process to regular reviews and training and development opportunities, giving them and the business the very best chance at success.

This means a welcome and introduction to the business and its values that is authentic and lives up to what you sold them at interview. It also means not simply waiting for the annual review to check-in, and creating an environment where employees feel comfortable to reach out. We ditched annual appraisals in favour of more meaningful eight-week chats over coffee and people are happier and more engaged.

And it means providing great opportunities to learn and develop as an individual, from wellbeing to qualifications and beyond. Actively investing time and resources shows that you are interested and value your people, and the reward is in people developing to be the best that they can be, for themselves and for business.

3. Engage and empower

This is all about how connected your employees feel to the business. Do they understand their role and their importance in the wider health and success of the organisation? Do they understand how they make the difference? Are they engaged?

If your employees are engaged, they understand their role, their purpose and their value, and their contribution to the overall results. And they have some ownership of the matter. In order to achieve this, communication is the key, and it has to be open, clear and honest and it has to be two-way. Celebrating, nurturing and empowering employees not only leads to an agile decision-making culture, but it also leads to a happier workforce and increased retention.


4. Don’t forget the little things

These are the everyday things that make your company great, and they actually don’t have to cost a lot. And it’s not always the serious stuff; we all love a little laughter! They are the handwritten notes from the CEO acknowledging a great job, free breakfasts, flexible working, great outside space for picnic lunches and a great environment in which to work.

5. Culture

All of the above comes down to your culture. If you make people the heart of your business’ values and purpose from the very beginning it will become simply part of everyday life, how things are done around here.

Creating a place where people want to work is the answer to the trend of decreasing time spent in jobs. In general, employees don’t want to leave; they don’t want the hassle, just as much as you don’t. They leave because they feel that there are better opportunities out there for them. Value your biggest asset, invest in them and you will retain, engage and empower them with benefits for everyone involved.