Combating the Combo of a Competitive Job Market and High Inflation

High inflation combined with an already competitive job market, is making employee retention difficult. Employers are searching for answers, and are desperate to find the combination that works for them to attract and retain talent. Some employers have found success by rethinking their employee rewards, some are offering generous compensation packages, and others are working to create a fun and engaging workspace. Here are some employee retention ideas to get you started on your journey!

Don’t micromanage.

We’ve all been told to not micromanage employees before. It can hinder productivity, but what you may not notice is it can be enough to completely turn off high-performing employees from wanting to stick around at all. Micromanagement certainly harms morale, but it also takes away the opportunity for employees to grow and learn for themselves.

Offer the ability to grow.

A somewhat obvious, but also commonly overlooked incentive. It can be tempting to keep your high performing employees doing what they do best, but this can be a fatal mistake when it comes to employee retention. Your employee undoubtedly gets great satisfaction from a job well done, but this may only last so long. Employees that feel stagnant may look for another position that allows them growth both financially and knowledge base wise.

Provide flexibility.

This can be a tough one because not all positions can offer remote work, generous PTO policies, and flexibility when life happens short notice. In addition to this, some employees will be entirely grateful for the flexibility and remain respectful to not abuse your generosity while others will not. Do your best to make accommodations where you can, and give people opportunities to impress you!

Keep employees “in the loop” and allow them to speak their minds.

Being honest with your employees can go a long way. While it might seem small, creating a culture where employees can freely speak up, within reason, can keep employees engaged and wanting to stick around. If you have small and manageable employee count, over communicating may not be the worst idea when it comes to organizational changes etc. If you can, make sure to spend some one on one time with your employees to check in on them for things they may have been reluctant to bring up.

    Get My Free HR Consultation Today

    If you're a current customer, click here