Hiring a great employee is one thing. Getting them to stay with your company is another. All too often, business leaders fall into the trap of believing that they can convince an employee to stay in their role by offering them a salary increase.
This strategy is often deployed when an employee says that they’re leaving, when the business makes a last-minute offer to increase their salary.
In fact, by that stage it’s nearly always too late. Employees might stay with a company for money, but they’ll almost certainly stay if they have a good salary plus the additional, often overlooked touches that make a job extra enjoyable.
In this post, we’re going to run through some of the things that employees covet the most that aren’t money. Incorporate them into your business, and you should find that your employee retention rate begins to increase.
Flexible Working
Your employees want flexible working for a simple reason: their peers who work at other companies have it. Even if they do end up working in the office from 9 - 5 each day, staff members simply appreciate having the option to choose when and where they work.
Aside from helping to improve their work-life balance, it increases their sense of autonomy and conveys that leadership trusts them. All of those things can be extremely powerful, making it much less likely that they’ll seek other employment.
An Inspiring Office
It’s not just the work the employee does that impacts their satisfaction in their role. The environment in which they do that work counts for a lot, too.
An employee might fundamentally like their work, but if they have to do it in an uninspiring, dark and cluttered office, then they’ll be continually reassessing whether they could do better. Working with an office design company to put together a visually appealing, productivity-boosting workspace can be a game-changer for employee happiness and satisfaction.
Ultimately, people who are happy in their surroundings are less likely to pursue other opportunities, and that can have a hugely positive impact on your employee retention rate. Throw in the fact that a great workspace can reinforce branding and impress visitors, and it becomes clear that taking the time to put together a great office should be a top priority.
A Sense of Belonging
Studies have shown that employees much prefer going to work when they have friends at the office. While businesses can’t force staff members to be BFFs, they can create a climate in which these types of relationships can flourish.
Organizing company events, outings, or even after-work drinks can be enough to get people talking. Throw in an open, supportive environment in which people feel comfortable being themselves, and it’ll be much more likely that connections are made.
Professional Development
Finally, employees want to feel like they’re getting somewhere. Investing in their professional development (such as by paying for courses/conferences/etc) and offering a pathway towards more senior roles can help prevent stagnation and encourage employees to stay in their roles.
