What makes an employee decide it’s time to move on? Does it happen on a whim, a random light-bulb moment where they realise their job isn’t their calling? Or perhaps it happens gradually due to lack of advancement opportunitiesin their current job?
Employees in an Engineering or IT job usually switch jobs every three to five years. Granted, you can’t expect employees to stick with you forever, there are certain things you can do to extend their stay in your company.
1. Promote from Within, Before Hiring an Outsider
When was the last time you asked employees if they’re still excited and challenged by their job? Numerous surveys prove that lack of career advancement is directly related to high turnover rates, yet many companies forget this. In my experience, the possibility of a promotion is almost a never-failing motivator. Use it to your advantage. Show employees the company’s organizational chart and explain the different career paths they can take.
You can’t promote everyone, but that doesn’t mean they should be stuck doing the same thing for years. Spice things up by assigning new projects and tasks. Another option is a lateral transfer to a different part of the business. It’s not exactly a promotion but the new responsibilities will offer a nice change to anyone looking for a new challenge.
2. Additional Training Benefits the Company and Employee
Who doesn’t like recognition for a job well done? Training employees gives them a chance to learn something new while improving on their existing skills. This helps them to do their jobs better, which then leads to more recognition and increased self-confidence at work. Additional training shouldn’t be limited to the employee’s line of work. For instance, Google’s most popular training program,
Search Inside Yourself, is a 2-day course on mindfulness. It has nothing to do with programming or IT engineering but attendees loved it! Cross-training programs and reimbursement for further education are good ideas, too.
3. Create a Progression Plan
Regular employee reviews show how everyone in your team is doing, including their work performance, career progression and possible training needs. Aside from coaching employees on their performance, you can use this time to review their advancement within the company. Discuss available promotions matching their skill set but if he’s interested in a different role, don’t stop him. Confining employees to their current job description makes them feel stifled. Let them take an active part in shaping their career. Your job is to keep them accountable of their goals, occasionally nudging them back on track when they need it.
4. Create an Awesome Working Environment
Employees appreciate even the little things you give them. In the modern workplace, that’s usually telecommuting options, flexi-hours, BOYD, and occasional team dinners.
Are those benefits too much for you? There are other options. Just ask yourself, what non-work related problems do employees often complain about? The answer to this question will give you a clue regarding their needs. Sometimes it’s as easy as a free breakfast in the office or a room for naps.
5. Build a Strong Company Culture
Your company’s culture affects everything. If an employee’s attitude doesn’t match the dominant culture in the office, he won’t fit in with the group. To prevent this, use the company values and mission statement to asses cultural fit of potential candidates. Don’t be tempted to hire people based on skills alone—that’s easily obtained through training. The right attitude, on the other hand, is more difficult to find.
6. Review Employees Compensation Package Regularly
Money isn’t the best driver for employee retention. It’s still important though, so make sure your employees get a fair salary based on their responsibilities. A well compensated employee is driven to perform better and is less likely to leave his job. Spending on employee retention can take a chunk out of your budget, but taking care of your team brings rewards that far outweigh the costs. Increased productivity decreased re-training costs, more profits, loyalty, dedication—all these are by-products of having a fully engaged team.
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