Nowadays, the COVID-19 pandemic has changed the way many companies do business: more staff are working remotely and companies have had to cut back and hone their resources. So, how do you ensure your team members stay with your company instead of going elsewhere?
Well, as one of today’s top performance management teams, Buddy Performance has collected some tips for you here on how to improve employee retention even in such an uncertain time.
Our observation about the most important message to companies from this process is this: focus first on your people, then busines.
While people want a trust culture where they work, companies should not forget that the people who will take them out from the financial crisis are the people working for them. Corona virus should be seen as an opportunity in this sense.“In this process, if you; approach your employees competently and ethically, listen their needs, and distribute responsibility fairly, you will increase trust, team spirit and endurance in your company”.
As mentioned in Amy Edmondso's book “The Fearless Organization”, companies that value trust, ethics, and the voice of their employee, produce great financial results. On the other hand, the future will not be bright for companies that try to keep their economy alive by focusing on reducing employee costs during the crisis periods, such as Covid-19. They will be subject of a poor performance in the future.
One great way to keep your team members on board is to implement mentorship programs to help them grow. When you hire someone new, hook them up with a seasoned team member to learn the ropes and help make them more comfortable in their first few months.
One of the most important aspects of employee retention begins at day one when you bring a new team member on board. A primary reason employees leave a company is because they aren’t given the information and resources they need from the outset to comfortably do their job. Be sure your onboarding and orientation process leave no stone unturned.
In addition to offering competitive compensation based on industry standards, giving your team members perks is a great way to get them excited about working for you. These can be anything from additional personal days each month to enrollment in financial wellness programs to help them save.
Remember: feedback goes both ways. In addition to offering positive feedback to employees, make sure you also have the proper channels in place should they have an issue they want to address with your management team. Doing so will help build trust and ensure that their needs, as well as yours, are always met.
A healthy employee is often also a happy one. Nowadays especially, with more employees working remotely than ever before, giving them some tools to stay happy and healthy is key to retention. Considering hiring a workplace personal trainer or offering weekly yoga classes for free; every little bit helps.
Contact Buddy Performance today for more employee retention solutions!
If you want to ensure your team members stick around for the long term, Buddy Performance can help. We can help you provide rewards and recognition to staff members, and get a handle on performance management.
Contact us online today for more information or call +90 212 351 6423.