Retaining Quality Employees
Attracting quality employees in an organization is salient. While most employers get carried away in the frenzy of searching for the next big talent their organization needs, they fail to remember the more important role of ensuring they don’t leak talent from their current workforce.
Retaining its best talent is key to the long-term growth of any business not only do they possess the skill to perform but they have sufficient industry knowledge and understanding of how the business works.
Managing people can be difficult but there are proven factors which determine employee-satisfaction on the job. Some of them include; providing a conducive work environment, supervision and communication methods of managers, provision of challenging work, and compensation and appreciation of work done.
Employee satisfaction and retention can be achieved by understanding the 3 Rs of employee retention — respect, recognition, and rewards.
RESPECT
This refers to special regard or particular consideration given to people, ideas, beliefs, and opinions. Without respect for employees, even recognition and rewards will have little effect. According to employment relations expert Paulette McCormack, “Giving respect to the employees is as important as giving water to a plant. If they feel respected they will have a good reason to work”.
respect can be seen in some of the factors that determine employee satisfaction
- Providing a conducive work environment: the relationship an employee has with colleagues, as well as his workspace, says a lot about the respect for the work he does within the organization. Here’s the good thing, you don’t need the services of an interior designer as you can get desired results with a few hacks that help you get more out of your workspace.
- Supervision and communication methods of manager: Training employees is critical to getting the job done. However, how it is done matters. Treating every employee with fairness, communicating with them in a respectful manner regardless of position or status says a lot about how much the business values the employee.
RECOGNITION
This involves giving special attention to the efforts and work done by your employees. Recognition increases a person’s sense of self-worth and makes them feel valued. It shows the work they do is important to the organization. Many problems with retention and team morale occur because management is not paying attention to people’s needs and reactions.
Provision of challenging work has been proven to also influence job satisfaction. Not only does this make the job worthwhile for the employee, but the delegation of higher level work to an employee also implies recognition of past work done well and trust in them for more complex tasks. This gives high satisfaction and helps boost an employee’s confidence.
REWARDS
These are the extra perks and incentives you offer beyond the basics of respect and recognition that make it worth people’s while to work hard, care, and go beyond. Think of it as compensation. It is the most physical and easily controllable of the factors influencing job satisfaction. It is the actual physical value the employee expects to get in exchange for his effort.
Setting up a proper and transparent reward system which cater for both monetary and non-monetary incentives plays a pivotal role in keeping employees happy and ultimately retaining talent. While most people’s idea of compensation is monetary, rewards go beyond monetary compensation to cover the little things such as paid time off, flexible work hours, and opportunity for development on the job.
Think of it this way, keeping your employees happy involves a proper mix of intrinsic and extrinsic motivational factors. Understanding how to harness the power of the 3 R’s not only keeps your team motivated but more importantly it helps you keep your best guys in the job.
written by: Quddus Edu
