Retention starts before day one
Asking an employee to reconsider leaving during their resignation meeting or exit interview is too late.
Some of the most common reasons people leave an organization are:
- lack of career trajectory
- changing work-life construct
- poor relationships with their manager or team
In essence, people leave because their needs or expectations aren’t being met
An organization’s onboarding process, compensation strategy, learning and development program and culture all contribute to the employee experience—and should start before their first day. That’s why it’s important to have programs and strategies in place.
Throwing money at the problem isn’t the solution
As a baseline, it’s important your compensation is competitive, but that’s just one element of employee satisfaction and retention.
You should also be asking the following questions:
- have you built a culture where your managers are building meaningful relationships with their team?
- are you enabling your people to learn and grow in their role—whether through mentoring or formal education opportunities?
- do you have the right talent in place to fulfill the requirements of each role?
- do your employees have the tools and technology they need to fulfill their role?
- do your people get meaning and satisfaction from what they do?
Each of the above play an important role in retention, so a proactive approach needs to be taken if any of them are lacking in your organization.