Incorporating Caboolture
Accounting & Taxation
Services (CATS)
Strengthening your employee's roots
Unwanted resignations, High turnover, Hard to fill vacancies.
These are three phrases that leaders don't like hearing because they mean extra work, disruption and expense. What they want instead is to find the key to employee retention has become the Holy Grail for many leaders. They will try just about anything to find a way to keep good people.
Research tells us that they need to find a way to create strong ties between the employee and the organisation so they feel "attached". This will prevent the employee from leaving the moment something goes wrong. By feeling part of something employees form a bond that goes beyond the day to day tasks and issues.
When we think about plants in a garden, this bond is their root system. A strong, deep root system is what keeps plants thriving even in the face of the forces of nature. The roots that an individual plant puts down also help to stabilise the soil, creating a better growing environment for other plants too.
Now there is a significant difference between feeling attached and feeling tied down. In plant terms, it is the difference between strong roots and lots of staking. One is underground and the other is on the surface. The same can be true with employees. In the past employees used "golden handcuff" policies to keep good people. This effectively meant a financial incentive that prevented someone from leaving. If they did, they either missed out on a benefit or had to pay back monies spent on them.
The thinking now is to use incentive programs that give people a more positive motivation to stay. One idea that is gaining popularity is CSR (Corporate Social Responsibility) programs that allow employees to give back to the community via participating in activities organised by their employer.
Another idea that helps people to feel a sense of attachment or ownership in their organisation is profit sharing. Traditionally this has been the domain of only a limited number of organisations who were large enough to offer this kind of incentive. Whilst it is financial, it is also about feeling like you are truly part of the business rather than just the hired help. However, I have recently come across a new service that allows organisations of any size to offer a form of profit sharing that doesn't create onerous legal obligations.
www.works4us.com.au is an innovative approach to staff retention. It provides an online platform for a legally binding partnership/rewards agreement without the red tape. This totally customisable program is designed to inspire and retain your best staff, directly improving your productivity levels and boosting your profits.
Whatever method you choose, the important thing is that you are creating an environment that has a positive incentive to stay rather than a negative incentive to not leave. There is a difference between the two motivations.
If you can help your employees to put down roots with the organisation you will greatly improve their ability to deal with the ups and downs of the workplace which means fewer surprise resignations, lower turnover and the end of hard to fill vacancies.
"This article was written by Karen Schmidt from Let's Grow!, a professional speaker, workshop leader and facilitator who is on a mission to grow managers into engaging leaders. To find out how she can help your organisation grow visit www.letsgrow.com.au".





