By Andrea Fishman
Dec. 2, 2010
The optimal work culture caters to people’s talents, provides guidance and training as opposed to micromanagement, eliminates bureaucracy and recognizes excellent work. Ultimately, employees are fulfilled both in the office and at home, on a constant basis.
How is this possible? Below are five simple steps you can take to achieve 100 percent employee retention.
Provide a career, not just a job
The first step to establishing a great place to work is to provide enough freedom within the workplace for employees to find the position that is the best match with their talents and interests. This means creating a flat organizational structure with limited bureaucracy so the staff has the flexibility to move around between departments. Once this happens, employees will be invested in the company and will treat the work not as a job, but a career. With this type of dedication, the employee will look at your company as a long-term employment prospect and will do what it takes to stay on board.
Establish a healthy work/life balance
Your employees should not live their lives entirely at work. A burned-out employee will not be effective on the job, and will probably give off negative energy that affects other employees. If the work culture dictates that employees are not expected to burn the midnight oil, then they will lead richer lives outside of work. A rich life outside of work will result in a better work product. Of course, this doesn’t mean that if there’s a big deadline, your employees shouldn’t stay late –it just means that it’s important to encourage employees to have healthy lives outside of work.
Communicate employee value
Never forget that your top assets leave the office every night and that it’s your responsibility to provide a workplace environment that encourages them to return the next day. One of the best ways to do this is by constantly communicating the high value each employee holds within the organization. If an employee feels undervalued, this is the fastest way for that person to lose interest in the success of the company. Employees should be constantly reminded of their value through internal newsletters, state of the union speeches by the president, employee reviews and informal communications.
Provide the best possible benefits and perks
By providing the best possible benefits and perks, employees can focus all of their time and energy on the work at hand. If you’re not providing this coverage you can be sure another firm probably is, and attracting the talent. Examples of solid benefits and perks include: competitive salaries, 100 percent-covered health care, life insurance, long-term disability, staff events, generous bonuses, rigorous employee training, tuition reimbursement, employee referral programs, meals and an employee appreciation day.
Hire talent
At the end of the day, the above steps will only work if you start with hiring talented employees. Bringing on the right people is critical to the establishment of a great place to work. A talented employee will be the one to really appreciate and take advantage of the above steps, and will in turn stay committed to the firm. With talent comes success – but only if that talent is provided the environment to grow and thrive.
In summary
By following these five steps, you’ll be well on your way to reaching 100 percent employee retention. It’s not a process that will happen overnight, and it will take serious commitment and dedication to a new vision, but the end result will be worth the effort. Your employees will have increased respect for the company, they will be happier at work and they will produce a superior product.
Andrea Fishman is a partner and VP of Global Strategy at BGT Partners, and directs BGT’s Chicago office. Since joining BGT in 2003, she has driven value to the agency’s clients through the development of competitive assessments, strategic delivery plans and integrated marketing programs. BGT Partners is one of the 2010 winners of Chicago’s 101 Best and Brightest Companies to Work For. Fishman contributes regularly to such leading publications as ClickZ, BtoB Magazine, SES Magazine, Chicago Business and eHealthcare Strategy and Trends.