Let’s face the truth: the current situation is not conducive to employee retention. In fact, according to a recent report released by the Ministry of Labour, a staggering 3.3 million individuals voluntarily resigned from their positions in May of this year. This figure represents the highest percentage of employees leaving their jobs since April 2001.
Let’s face the truth: the current situation is not conducive to employee retention. In fact, according to a recent report released by the Ministry of Labour, a staggering 3.3 million individuals voluntarily resigned from their positions in May of this year. This figure represents the highest percentage of employees leaving their jobs since April 2001.
To ensure the satisfaction of your team members, it’s imperative to gain insight into the current gaps in their work. By addressing these deficiencies, you can significantly reduce the chances of your employees accepting alternative job offers.
Here are three strategies to retain passive job seekers and prevent their departure:
1. Rethinking career paths
In the past, career trajectories were often bumpy and monotonous. Many workers entered a company at an entry-level position and then gradually climbed the corporate ladder through their diligent contributions. However, nowadays, employees tend to make lateral shifts or accumulate a diverse array of experiences that transcend traditional job specifications. When employers fail to provide support or identify avenues for their team’s growth, employees begin to explore other opportunities.
For a significant number of employees, the quest often leads to seeking a secondary employment opportunity that caters to unmet needs by their current employer. Indeed, Jobvite’s 2018 Job Seeker Nation study revealed that a staggering 31 percent of employees are either in a rush to find new opportunities or are already operating as freelancers. Among this group, 22 percent hold a second job, driven by a desire to pursue a different interest or passion. This underscores the fact that many of your employees are actively charting their own course towards the next phase of their professional journey, with one foot already poised to step out of the current workplace.
To foster employee retention, we must explore avenues that align their diverse professional passions with their present job responsibilities. Engage in meaningful conversations to uncover what truly drives them in their daily grind. Do they thrive on the face-to-face interactions with clients? Are they eager to embrace emerging trends? Does this present an opportunity for them to showcase a unique skill set beyond their current role?
Collaborate with your team to explore avenues for integrating those advantageous skills into your company’s operations. For instance, if a marketing professional harbors a keen interest in design, consider facilitating their collaboration with the design team on a weekly basis. While devising the ideal strategy demands innovative thinking, fostering employee growth within your organization is preferable to external avenues.
2. Give jobs a new meaning
It is a frequent occurrence for individuals to encounter monotony in their jobs. As they arrive day in and day out, performing the same routine tasks, it becomes increasingly difficult to recall the significance of their individual duties. They often find themselves feeling like just another cog in the machine, prompting them to seek out fresh and more stimulating prospects.
As an employer, it’s imperative to underscore the significance of your employees as indispensible members of the team. One highly effective approach to accomplish this is by consistently acknowledging their efforts. Whenever your team attains a milestone, ensure to express your heartfelt gratitude. Avoid generic thank-you emails and instead, personalize your appreciation with specifics.
Ahead of time, engage with your team managers to acquire a comprehensive record of each team member’s contributions towards our collective success. Subsequently, arrange for individual or small-group meetings to personally acknowledge and commend the unique contributions of each employee. During these interactions, emphasize how their efforts align with the fundamental principles of our organization, including our mission and values. This approach will reinforce the significance of their work and remind them that their actions are integral to our overall success.
3. Collect feedback from employees
When an employee’s dissatisfaction and potential departure loom, there are always telltale signs. The crucial inquiry lies in whether, as a supervisor, you are vigilant in spotting these harbingers. By detecting minor issues promptly, you can rectify the situation and deter employees from exploring alternative avenues.
To gauge the sentiment of our workforce, the most effective approach is to administer feedback surveys. In designing these surveys, it’s crucial to prioritize overarching metrics of employee engagement. Enquire about employees’ perceptions of their supervisors. Determine if they are content with the benefits package. Ascertain whether they feel appreciated within the organization. These inquiries will assist in tracking the overarching trends within our company.
Furthermore, it is imperative to incorporate open-ended questions that encourage employees to voice their suggestions and perspectives. The insights they choose to impart will undoubtedly aid in identifying areas of potential enhancement throughout the organization’s operations.
In the realm of organizational strategy, employee retention ought to occupy a paramount position. However, in the current context, should your organization fail to exert additional endeavors within the workplace, it is inevitable that passive job seekers will commence their departure at an accelerated pace. Conversely, by demonstrating a profound appreciation for each individual employee and a genuine willingness to heed their needs, you can significantly diminish the likelihood of them exploring alternative employment prospects.
