Almost every company has certain employees who are especially valuable – the ones your managers can count on to deliver results. However, it’s not uncommon for these employees to suddenly quit the company and leave a resignation letter on the boss’ desk. Supervisory reactions can vary – in one company, an employee may be let go of his own free will without sentimental discussions, while in another, company management will do everything possible to retain the employee.
The resigning expert may be replaced by a more accomplished professional in his field. However, scattering valuable personnel is rather unwise. An employee with a lot of experience, no training needed, and solid interpersonal relations with colleagues is valuable to a company. In every company, management knows that it is important to have a subordinate they can count on in crisis situations, that they are capable of completing challenging tasks and can handle the most demanding responsibilities. The current state of affairs encourages business leaders to think more about employee retention strategies and programs.
An important employee leaves the company. What should be done?
First, the manager should determine the reason for the dismissal in order to retain employees of the company. Many employees are motivated to go to work by low wages or an inability to communicate well with coworkers. Additionally, it is sometimes difficult to guess the reason for dismissal. An open dialogue is essential.
Unfortunately, not all companies allow subordinates and managers to converse honestly because of an ongoing relationship of trust. It is then possible to ask a staff member, with whom your employee has a trusting relationship, for advice on how to keep your valuable employee.
The most important thing is to find out why the letter of resignation is pending the manager’s signature (insufficient salary, lack of career prospects, harassment from colleagues, personal issues, etc). Without understanding the problem, promises of mountains of gold are meaningless.
Unless, for example, the climate in the team is comfortable, an employee will leave your company very quickly, no matter how much you increase their salary.
Even when you do everything you can to keep someone at work, you cannot always rely on their decision not to change jobs. Nevertheless, by analyzing the reasons for the loss of a valuable specialist, company management and bosses may be able to prevent another loss of smart employees in the future. As opposed to trying to convince an employee to stay after he or she has decided to resign and find a new job, it is better to warn them about a dismissal. What is the best way to keep an employee from leaving? We will discuss this question in the next section of this article.
Factors that define top performance of your employees
Several factors influence the behavior of your employees. According to recent studies, job satisfaction is influenced by five factors:
- Workplace treatment;
- Pay/compensation;
- Management and employee trust;
- Security of employment;
- Ability to use their skills and abilities at work.
How satisfied are your employees with their jobs? In that case, find out how and why they are satisfied and unsatisfied. Take a look at what makes your employees happy and what makes them unhappy after you’ve calculated their happiness and unhappiness.
A company’s retention rate is determined by how engaged its employees are. They take time to consider, so they are often put off until later. Nevertheless, they are very important factors. However, if you can improve work performance, productivity, morale, quality, and turnover, it is worth the effort.
Retention of talent and motivation can be achieved by managing employee retention. It is ideal if they are committed to the company’s success and focused on contributing to it.
Employee retention is the opposite of turnover. Some of the reasons employees should stay at their companies, however, may be the exact opposite of those that cause others to leave. The retention of the best employees is a common concern for employers. Thus, any organization should make sure it retains as many of these top performers as possible.
Reasons for Employee Exit:
- Employee dissatisfaction;
- Better alternatives;
- Planned change;
- A negative experience, etc.
Factors that define top performance of your employees
Several factors influence the behavior of your employees. According to recent studies, job satisfaction is influenced by five factors:
- Workplace treatment;
- Pay/compensation;
- Management and employee trust;
- Security of employment;
- Ability to use their skills and abilities at work.
How satisfied are your employees with their jobs? In that case, find out how and why they are satisfied and unsatisfied. Take a look at what makes your employees happy and what makes them unhappy after you’ve calculated their happiness and unhappiness.
A company’s retention rate is determined by how engaged its employees are. They take time to consider, so they are often put off until later. Nevertheless, they are very important factors. However, if you can improve work performance, productivity, morale, quality, and turnover, it is worth the effort.
Retention of talent and motivation can be achieved by managing employee retention. It is ideal if they are committed to the company’s success and focused on contributing to it.
Employee retention is the opposite of turnover. Some of the reasons employees should stay at their companies, however, may be the exact opposite of those that cause others to leave. The retention of the best employees is a common concern for employers. Thus, any organization should make sure it retains as many of these top performers as possible.
Organizational and management factors
Many management factors influence individuals’ job satisfaction and their decisions to stay with or leave their employers. These organizations have clearly established goals and hold managers and employees accountable for managing accomplishing results. Further, effective management provides the resources necessary for employees to perform their job well.
Work relationships that affect employee retention include management support and coworkers’ relations. A supervisor builds the relationships and allows flexibility giving feedback that recognizes performance and supporting career planning and development. As coworkers encounter and cope with layoffs and job reductions, the anxiety levels of the remaining employees rise.
Companies that focus on job continuity and security tend to have higher retention rates. However, these measures are not sufficient. Employees need a fresh approach to the issue. With the development of modern technology and AI-supported solutions, it is possible to find a strategy which lies in the realm of employee retention services. Let’s analyze why employee retention services are so important.
Employee Retention Services
This week, an Australian startup company Pyn raised $8M to launch a personalized messaging service for employees. Essentially, it is a corporate chatbot that welcomes new employees, collects feedback, and makes everyone involved in the life of the company.
What’s the trend? A growing staff turnover. Employees are getting less attached to the workplace. A common cycle is the following: the employer invests money into recruiting and training a new staff member, but after a few months the employee quits. Millennials today no longer want to make a career in just one company. Over 20% of them have switched jobs within the last 12 months, and another 60% are ready to consider a new job opportunity. Even in Japan, where lifelong employment is a cultural norm, this era seems to be over. Interestingly, the Headhunter’s research reveals that the main reason for layoffs is not a small salary, but a boring job and a hunger for changes.
Therefore, now companies are desperately trying to make employees stay longer, which fuels the interest in innovative HR solutions.
Pyn Customer Retention Product
What is so special about this product? There are tons of tools for sending targeted communications to customers, but not for employees. Pyn is going to meet this need. Such celebrities of the HR world as Accel and Ryan Sanders (BambooHR), Scott Farquhar (Atlassian), and Joris Luijke (Atlassian, Squarespace) were involved in the fund-raising efforts for the project. Although Pyn refuses to reveal specifics, it is already known that such platforms as Shopify, Rubrik and Carta are cited as their first customers.
Due to the pandemic, a lot of companies showed their interest in this employee-centric project. What is so special about this product? There are tons of tools for sending targeted communications to customers, but not for employees. Pyn is going to meet this need. Such celebrities of the HR world as Accel and Ryan Sanders (BambooHR), Scott Farquhar (Atlassian), and Joris Luijke (Atlassian, Squarespace) were involved in the fund-raising efforts for the project.
Although Pyn refuses to reveal specifics, it is already known that such platforms as Shopify, Rubrik and Carta are cited as their first customers. Due to the pandemic, a lot of companies showed their interest in this employee-centric project.
Main features of Employee Retention Services
It’s not enough to simply include people at the table, but your company must encourage everyone’s voice, break down silos and appreciate everyone for their unique backgrounds. Automation features built into this software allow you to set it once and forget about it. For example, pulse surveys can help you gain a deep understanding of how to improve employee engagement in your organization. The benefits include the following:
- Preview Insights;
- Schedule Pulse Survey;
- Depth Insights;
- Select participants;
- Try out possibilities .
Some Employee Retention Services can generate a one-time survey link which you can email to your team. Reporting features are often available with these services.
The software provides people with global benchmarks filled with the latest productivity data. These tools help to achieve a deep understanding of an employee mindset. Such an understanding inevitably leads to actionable recommendations you can implement right away and improve employee trust in your business goals.
Also, employee recognition services increase trust between company leaders and employees. Such software helps to improve employee engagement, performance, etc.
This all-in-one solution is an ideal choice for those who want to improve their employees’ performance. With the employee retention program, you can stay on the pulse of the people you employ. Plus, the tool helps companies of all sizes build an amazing culture that puts humans first. Let’s review some of the examples:
Moodtracker
With MoodTracker, you can compare your results with millions of employees around the world at companies with Workhuman solutions. The list of other things you can do with MoodTracker:
- Receive pulse survey results on a user-friendly interactive dashboard;
- Compare these results against global and industry benchmark data;
- Use the information to create a more human workplace.
Workhuman
Workhuman, formerly called Globoforce, runs employee reward and incentive schemes for some of the world’s largest companies, including Cisco, GE, LinkedIn, Procter & Gamble, Symantec, and KPMG. The Workhuman platform is used by more than 5 million employees in 160 countries. Last year, the company surpassed $700 million in sales, up from $452 million a year earlier. Eric Mosley and Eddie Reynolds founded the company in 1999.
For over five million users and leading brands, Workhuman has created cultures of gratitude and connection over the last two decades. Our global solutions have proven to work in every instance, based on the data behind them. Creating winning cultures begins with listening, so we want to assist companies in taking the first step.
Workhuman Values and Features
What is the most valuable tangible asset in the world? You guessed it. Humans. However, a human workplace is more than a headcount or even a mindset. This is a new work paradigm that utilizes the power of the human brain to build connections and to collect resilient, high-performing teams – no matter where those teams happen to be. The main idea of the Workhuman product is to make “work more human for every person on the planet.” Let’s delve more deeply into the features this software has.
List of Workhuman solutions
- Workhuman Cloud
Workhuman Cloud unlocks the passion and potential of human workers. It’s an environment in which employees work together towards a common goal, where leaders gain a deep understanding of what drives performance, satisfaction, and retention, and where HR delivers on its employer brand values.
- Workhuman iQ
Based on more than 50 million points of human connection on the Workhuman Cloud, Workhuman iQ provides business and HR leaders with unique talent, business, and program insights not available from any other HR solution. Identifying trends about employee performance, equity, diversity, and culture helps leaders better understand their workforce.
- Workhuman Certified
The Workhuman Certified designation is the modern and data-driven way to recognize, honor, and convene thought leaders and organizations who are working towards creating a more human workplace.
Why choose Employee Retention Services?
- Innovation = Imagination + Determination;
- Respect for Teamwork;
- Respect for Customers;
- Respect for Urgency;
- Respect for Quality;
- Respect for All.
Employee Retention Services help to build winning cultures. Employee Retention Services help the world’s leading brands build cultures that leverage the power of human connection based on the human-centered approach typical for this kind of services. The main goal of such software is to bring more humanity to workplaces. With the help of the software you can keep together teams located in different corners of your office or even areas.
Aspects that matter while evaluating your employees
- Social recognition factor;
- Better quality of all your conversations;
- Agile performance management.
