A LinkedIn question: Do you know any tricks to improve employee retention?**
Improving retention does not require trickery. These rules appear simple, but they require a lot of thought and hard work.
How will you know if you have a problem?
- Are people leaving to work for others for less money and less security? Or for no job whatsoever?
- Is your staff unhappy?
- Is your staff in an on-going sulk?
If your managerial mindset is “Command-and-Control,” you may need to reconsider the manager-employee relationship.
5 rules to improve employee retention
1. Listen to your staff and consider that they may have a valuable perspective on issues and problems. Believe that they know things about your business that you do not know.
2. Respect your staff.
3. Don’t play favorites.
4. Be honest about possibilities for promotion and/or increased compensation.
5. If there is no path for advancement and no possibility of more money, you are left with providing a workplace that challenges your staff, and allows them to improve their skills. Even then, they may leave.
**(answered by me)