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How to Retain Your Employees
While some consider extravagant benefits and excessive pay as the only ways to keep employees in place, the following tips can work wonders without bursting the bottom line.
- Issue: October 2008
- Author: Peter Fretty
- Topics: Management | retention
Dismal employment numbers may give employers their pick of potential hires, but prudent business owners understand the importance of retaining talent. After all, with each new hire comes a hefty investment of time and money, with no guarantee that things will work out and a true struggle to maintain consistency. Unfortunately, far too many employers fail to realize the importance of retention, and businesses suffer as a result.
The resort industry is a prime example of a field riddled with retention issues — while many tend to stay within the industry it is quite common to see people move from resort to resort. However, with roster lists sporting numerous long-term personnel with 16, 20, 22 and 28 years on the job, Deer Valley Resort in Park City has been able to buck the trend. “There is no silver bullet here, but we have been pretty progressive in addressing this situation,” says Deer Valley President Bob Wheaton. “It really comes down to being fair, flexible and understanding.”
Establish Framework
While generational demands vary slightly, all employees desire an enjoyable work environment. Physical surroundings understandably enter this equation, but company policies and operation framework are often the most crucial aspects. For instance, today’s employees place a high value on flextime, the ability to try out special projects or even approval to take an extra day of vacation to attend a child’s event, explains Robert Merrill, who runs the Utah County operations of the high-tech recruiting agency SOS Engineering and Technology while also blogging about the Utah job market at utahtechjobs.com. “Take Google's 20 percent rule where employees get one day a week to work on any approved project of their choosing as an example,” he says. “It has produced some of Google’s best creations.”
Ultimately, employers should create an atmosphere that welcomes employees into the fold, provides personnel with the tools they need to perform, embraces creativity and consistently challenges and recognizes employees who tap into their inherent talents. Merrill also suggests scheduling one fun activity a quarter. “Take your employees to the premier of a new movie, send them to lagoon for a day, host a staff retreat that's actually about retreating. Make them memorable, fun and for everyone,” Merrill says.
Feed the Frontline
Business owners need to pay close attention to which employees they install as frontline managers. After all, these individuals directly influence how people feel about their job and the company. “This takes on a lot of forms from not feeling challenged, feeling micromanaged, being passed over for opportunities or not being trained well. It's not about the money, it's not about benefits, it's not getting a shiny car for being employee of the year like Doba did last year,” Merrill says. “At the end of the day, the employee's direct supervisor has more power and ability to help and employee feel liked and encouraged or disgruntled and dissatisfied than any other thing a company can do.”
This issue is best addressed by revamping the hiring and promotion processes, explains Joyce Gioia, president and CEO of Greensboro, N.C.-based Herman Group. “Filling positions should involve using a psychometric assessment to make sure people are placed in positions where they can excel,” she says. “When you have the right fit, you put yourself in the position to encourage enlightened leadership. No organization can be an employer of choice without having enlightened leaders who value people and their contributions.”
Provide Growth Opportunities
Businesses cannot afford to ignore the benefits of training and professional development. “The key to success is to offer training and development to everybody. People want to be better tomorrow than they are today. Everybody wants to learn new things and grow,” Gioia says.
While longevity is the desired result of retention efforts, success creates a sincere challenge, Wheaton says. “When people stay onboard, it can have the ability to impede growth for new staff who quickly recognize that they can only move up so far,” he says. The solution for Deer Valley has been to hire within as new opportunities arise and provide continuous cross-training so that staff members can continue to grow and ultimately help improve the offering. “We make every effort to allow team members to evolve within their individual positions to fit their personal strengths,” Wheaton says.
