How To Avoid Losing Staff Next Year

When you have valued employees in your workforce, the worst thing that can happen is that they find a new job. Perhaps they were unhappy in their current role or perhaps their new role simply just offers them more. Either way, you are no longer going to have them around and this can affect your business for the next few months until you find a suitable replacement. 

The good news is that there are some great ways that you can be proactive in order to avoid losing staff next year. Keep reading to hear our ideas.

Business mistakes

Talk To Those Leaving

While an exit interview can be quite an awkward conversation, it is something which can be very beneficial to your business. If you don’t know why your staff are moving on then you cannot make the changes needed in order to stop anyone else from doing the same thing in the future. Talk to any staff that you have leaving soon and reach out to those who have moved on already. If you can figure out what the issue is then you can avoid this from happening again so soon.

Improve Benefits

Have you ever thought about the fact that your staff retention rates might be low because of your lack of benefits? Staff benefits are very important and if you are not offering what your team wants then they might start looking elsewhere. Benefits don’t just involve the salary, you also need to think about healthcare, holidays and other interesting benefits. Take a look at some of the staff benefits systems that you can use and see if this improves your business. 

Listen More

Another great way to avoid losing staff next year is to listen to your current team more. Many employers avoid listening to their staff and this can lead to an unhappy workforce. If you can, find some time to have a sit down chat with your team individually. You might find that they have something that they want to say to you and this should help them get it out there. Not everyone is a good listener but you can get better at this over time with practice.

Offer Shares

If you want to keep your staff around then you should consider giving them a good reason to. Many companies are now offering employee share schemes that allow staff to become invested in the business. This means that when the business does well, they will too. This not only has the ability to encourage your staff to stick around for longer, but it can also help to encourage them to work harder. This is definitely something to consider.

Share Responsibility

Our final tip for those who want to avoid losing their valuable staff members next year is to make sure that you are sharing responsibility for tasks. It can be easy to take control of everything but this can be hard for some team members to handle. If you can show that you trust your team to handle things then they will appreciate their new roles. Some employers do this by offering promotions, others just try delegating tasks. Whatever you decide to do, it should make a positive difference.

Final Verdict

If you are struggling to keep hold of your staff then you should make sure to try out some of our tips. Think about improving the benefits that you are offering your team and don’t forget to listen to what they have to say. Hopefully, you’ll be able to retain your staff more effectively in the future. 

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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