Strategies For The Retention Of Personnel In The Company
Strategies For The Retention Of Personnel In The Company : More and more companies are becoming aware of the importance of human capital and placing more emphasis on the employee experience. And the thing is, having a stable workforce over time makes it easier for companies to tackle long-term projects, which means greater guarantees of success and a good level of competitiveness in the market. For this, the key is in the retention of personnel.
However, to achieve this retention that favors the development of the company, employees must be offered a good work experience. It is for this reason that many businesses spend a lot of time and resources to develop a valuable workforce.
We see how employee retention becomes a strategic priority for companies, but do you really know what it is? In this article, we will talk about what staff retention is, why it is so important for companies, strategies to carry out, and much more. Let’s start!
Table of Contents
What Is Staff Retention?
Employee retention is a tool that companies use as a strategy to prevent their most effective workers from leaving. To do this, a positive work environment can be fostered through the offer of benefits or by providing professional support that is attractive to the employee.
Still, it is important to know that having a certain turnover rate can be beneficial for the company. However, when turnover is excessive, it becomes a problem with short and long-term consequences, since a breakdown in the team leads to a decrease in productivity and, therefore, to economic losses.
At an operational level, excessive staff turnover translates into:
- communication loss
- Trust deficit among workers
- Loss of alignment between employees and company values
- Lack of commitment to ongoing projects
Therefore, for staff rotation to be efficient, it is advisable that the company allocate resources and efforts to this task so that employees feel that they are in an attractive workplace where they can grow professionally. A study referred by QuestionPro for the United States in 2021 showed how 41% of employees who quit their job did so because they were not satisfied.
Because It Is Important?
Now that you know what employee retention is, let’s discover its importance for the company.
One of the main reasons why customers come to your product or service is because it is being sold properly, with employees who feel part of the company, who share the values, and commitment, and perform with full productivity.
However, if the company does not conceive that its employees are its best allies and does not allocate resources to maintain their well-being, the work team will no longer be solid and stable and it will be more difficult to reach the target audience due to demotivation, poor performance and the decrease in the quality of the activities carried out in the company.
What Does The Human Resources Inventory Consist Of?
In this sense, the retention of employees is extremely important because, if it is neglected, the company will have made a lousy investment and will have to allocate money and time to cover absences. In addition, when an employee who is very valuable to the company decides to leave, the entity will also be losing its network of contacts, its references, and its knowledge.
It is clear that any company has to design a strategic plan so that its employees choose to stay in it because it will also translate into a good brand image, an improved position against the competition, and added value.
How Do I Know An Employee Is Going To Leave?
Although it is not always easy for a company to appreciate the time that its staff does not feel satisfied, there are previous symptoms that may indicate a deterioration in the company-worker relationship, such as lack of communication, tense work environment, demotivation, etc. For example:
Decrease in productivity:
It is clear that the productivity of any worker can present ups and downs at any time, but if it tends to decrease progressively it can be a symptom of lack of commitment.
Apathy and lack of collaboration: One way to show that the worker feels more outside than inside the company is if he shows indifference to the matters for which he is required.
Delays and absences:
There is clear wear and tear on the part of the worker when he goes from arriving on time and never being absent from his job to being late and showing a lack of discipline.
Lack of long-term commitment:
It occurs when the company presents long-term projects or strategies and the worker shows little interest and enthusiasm.
These would be some of the main signs that could put the company on alert about the discontent of its workers, so you have to pay close attention to them.
Staff Rotation Cost
We already know the importance of staff turnover, but what is the economic impact it has on the company?
It is not enough just to select the person who is going to join the team, they must also be trained so that they are capable of performing all the functions of their new position. This entails a relatively important investment since it could mean around half a year’s salary.
The profits that the company acquires with the new employee are not instantaneous, since the optimal point of their productivity is reached when they have been with the company for about a year.
This does not mean that person should never be rotated, as there are times when the departure of those workers who do not perform well and the incorporation of new profiles can mean an improvement in results. However, it is true that an abusive rotation of personnel cannot be carried out, much less without studying the moment for it.