Why your company should be focusing on employee retention

employee retention

Companies need an employee retention strategy as the pandemic wanes.

Companies are solving many challenges as we move toward the end of the pandemic, and employee retention should be added to the top of the list. The hybrid workplace has taken the bulk of the employee engagement spotlight, but how will companies retain employees that are reimaging what their lives will look like post-pandemic? 

Workers across the globe have put their lives on hold for over a year. For many, this could mean a build up of changes once they are able to re-engage with the world and act on plans they’ve been making. Here are a few things to keep in mind as you work on employee retention with workers whose needs have changed. 

Use surveying to get to the root of their concerns

At Workify we have a bevy of employee engagement surveys you can add to your toolkit to understand how employees are feeling and what they’re lacking. Are they wanting more learning and development opportunities? Do they think your company is falling short with diversity and inclusion? Maybe their manager is overdue for a 360-degree survey

The bottomline is that the pandemic has created uncertainty for employees for various reasons. For some, they’re reimaging what their lives will look once we return to “normal.” Others have spent extra time thinking and coming to new realizations about their working lives. 

Since there’s been so much uncertainty during the pandemic, most employees have been unwilling to act on any major life moves or changes. While this has been good for companies so far, it could mean a wave of attrition hits companies once the pandemic starts to subside and employees are willing to act on their pandemic ideas. 

Solve the employee retention problems you can solve

Many issues employees are facing—or additional resources they need—can be uncovered with the right surveying. It’s not uncommon for employee retention issues to be totally preventable. Companies just have to find out what employees need and act on them

Are your workers looking to be a part of a more inclusive workplace? You can provide resources and strengthen your culture once you’ve recognized this request. Are they hoping for more flexibility with remote working? Assuming your company can do it, give your workers the opportunities to work more days remotely.

You won’t be able to give employees everything they ask for, but many things are possible. Remember that many employees will be willing to make moves to other organizations if they think a competitor can provide them with resources or a working change that they want. Even if you discover things that seem tough for your business to do, consider how you can make them possible or adapt your company toward what employees expect out of the future of work

Some employees may take risks regardless of your efforts 

Once the pandemic ends, it’s likely that there’s a small portion of the workforce that can’t be retained. These are people that aren’t necessarily looking for competing companies, but they’ve decided on entirely different opportunities altogether. Examples of this include people who want to start their own business, freelance permanently so they can travel, or possibly even retire or change industries.

Some employees will be able to make these changes because the pandemic has afforded them time to build their savings account, gain wealth through the stock market, or it has given them the clarity to identify the exact things they want to do with their lives. 

It’s important to make an attempt to retain these employees, but you have to concede if their circumstances are outside of the scope of your company. Coming out of the pandemic, some employees will have very specific needs, and you’ll need to focus on the workers who have needs you can address. 

Reach out to us to get started

Are you ready to place employee retention at the front of your engagement approach? Remember how you can utilize the learning and development survey, and reach out to us for questions or help with your company’s strategy. 

Also, stay up to date on the latest trends by following the Workify blog, and join us in conversation with the Modern People Leader Podcast.

Need help building an employee engagement or feedback program? Want a third party view on where you should focus. Book a free 30 minute employee engagement consultation to discuss any questions you’re grappling with or to help with your company’s strategy.

Schedule a free 30 minute engagement consultation