For most companies with 11 or more workers, employee retention can be challenging. Keeping employees engaged and loyal to the company requires methods that may not always be a one size fits all solution. For example, in today’s society, culture plays a large role in how connected employees feel to their company; this can be especially true for millennials. However, culture can mean different things to different people.
Culture can be the environment that people are coming into everyday to work, such as having transparency from the top-down, or a company that is innovative and sharp. It can be the team-building aspect of a company, where all levels of staff get to interact and get involved. It can be the opportunities outside of work that people get to experience because of great work/life balance that their company offers. Perks can also be considered a part of a company’s culture, such as valuing exercise and implementing a gym on site, or organizing employee events such as happy hours or volunteering opportunities.
What some companies fail to do, however, is to determine what it is that their employees want. This can be done through informal discussions or meetings, surveys or through email. In order to maintain the kind of culture that is created, it has to be changing with the times, and with what people (employees) want. Additionally, culture change has to be implemented from the hiring process. Companies who want to develop a culture that matches their current employee needs, and retain those employees, also need to bring in new employees who have an understanding and desire for that kind of culture.
In order for a company to avoid the high costs of turnover, take a look within the company first, before bringing on new staff that may not be the right fit.