Work team doing handshake

If there’s one thing that really can make or break a business, it’s the people behind it. From your marketing team to the sales team, admin staff and finance managers, it is only when everyone plays their part that the mechanics of your business can really run smoothly.

So, what happens when people decide to leave, and you are forced to hire and adjust team structures in order to replace them? While employees moving onto new roles is something to be expected in any business, no matter how great, the retention rate of your current team can be truly indicative of their satisfaction and how much they enjoy their job – not just in terms of the role but also in relation to the environment, how they are led, and how you make them feel.

Happy, satisfied employees stay in their roles. They are loyal, they are dedicated, they help you to recruit new members by sharing their satisfaction, and they are overly more productive at work.

The big question now is this: how do you achieve that level of employee satisfaction?

  1. Reward + Recognition = Retention

Making employees feel great about what they are doing and what they are achieving is key to giving them a higher sense of purpose. A great way of doing this is to make sure that every member of every team in your business is aware of the role that they play in the larger machine of the business – as it is this sense of belonging and importance that motivates and enables people to recognise their own value.

A big part of this is recognising and rewarding whole teams as well as individual contributions, creating and harnessing the sense of comradery. Consider the value of both wider company events and away days, as well as smaller ones for individual teams.

  1. Training and Development

Around 25% of Millennials and Gen Z workers say that learning is the number one contributor to their workplace satisfaction – demonstrating a steady but definite increase in the importance of development across the working culture. When you train and develop your team, you not only give them the tools and support they need to do their job well – you also show an investment in them as an individual, arming them with the skills they need to succeed in your business and beyond.

Investing in the development of your team is one of those things which can feel counterproductive to some – after all, what if you train them and then they take those skills and knowledge to one of your competitors? However, for most it is this opportunity to learn and grow which will see them want to stay with a company, like yours, that cares about their development.

  1. Create a Great Culture

Work isn’t just about turning up and earning money. With the standard workday around 8 hours long, most of us spend more time at work during the week than we do at home – and what that means is that the environment we find ourselves in and the people who surround us are just as important as the role we are doing.

A great culture is one where every member of the team feels valued, where colleagues trust and lean on each other when they need support, where employees are given the flexibility that they need when they need it, and where everyone is equally respected.

It can also mean perks like being able to work from home, free food in the office, and corporate team days and drinks out – but all of these are individual to each company and should not be relied upon as the be all and end all of a great company culture. More important is to focus on the environment.

Create your own happy team

Employees come and go – that’s the nature of business. But rather than relying solely on fancy coffee machines and salary bumps to keep employees on side, consider some of the above options as part of your employee retention scheme. You might be surprised how many of your team are driven by more than just financial benefits.