Keeping Employees Around for the Long-Run

Employee retainment is an expense many companies must cope with. It’s tough keeping people around, and replacing them is expensive.

There are steps companies can take to keep their staff around enough to reap the rewards of hiring them. For one thing, actively listening to what employees share is important. While rumors should not be taken at face value, there are some underlying truths to them. So if a leader hears that employee so-and-so is about to depart for whatever reason, it’s safe to say it should be taken seriously. But if a supervisor wants to understand why that employee is leaving, it’s best to set a meeting and ask.

What many leaders don’t get is that their employees are a whole lot smarter than they let on, so be frank to win their trust and respect. Replying to concerns with general emails or providing a scripted, ingenuine speech at any given time works against the company. If there is a solution to anything that’s brought up, then provide one, but if leadership is still at an impasse as to the next steps or working on a solution, then share that with the employees. Taking these steps will help your staff feel valued and they’ll be more likely to stick around longer.

This may be common sense, but mass layoffs or the hint of any upcoming layoffs does more damage than good for any business. Companies that engage in such tactics depress employee morale and just the mere rumor of any firings can have people scrambling to find new jobs on the down low. Take the time to confirm or deny any rumors, and only use layoffs as an end to justify the mean. Don’t make it a habit to start firing staff members at the first sign of trouble or because other companies within your industry have started a trend. In the end, it will hurt your company’s bottom line.