Holding onto Employees in a Down Economic climate

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Recently a business owner complained in my experience about the economic downturn and the impact that it was having on his company generally and his staff especially. One key area when a lousy economy rears the ugly head is the uneasiness of employees and crucial staff. Guide on Employee Recognition Tools.

It made me remember another story I heard of an employee who jumped deliver after nearly twenty years in a single place! While business owners and managers may not be able (or want! ) to keep every staff member from exiting their employ, there are a few strategies that you could enact that will tip the chances of holding them in your favour.

Very first, communicate. One of the biggest complaints amongst employees is the lack of conversation with their superiors for them. We seem to be interacting less and less with the communication tools at our disposal. Keeping open traces of communication with your essential staff members is imperative.

Do regular (but brief! ) staff meetings and timetable individual sessions. Please make sure you get face time with them and not merely contact via email, online or telephone. Nothing restores sitting in front of another person to know what they are saying.

Since interaction is only 7% verbal, really imperative that you have regular, individual, human interaction with them; if you ask them how they are undertaking, listen to these people. They will know that your attention goes a long way in building loyalty.

Don’t at any time make assumptions either. No longer assume that your employees know what you expect, see what you think, or see how you want a specific process completed. Tell them, in particular, in detail what you want from them. No longer leave anything to chance. You will be surprised how well they perform when you are clear with your desired outcomes.

The second method is education. Most companies are opting for distance or maybe computer training rather than getting the employees in a room with a professional facilitator. I know it keeps the price down, but you may wonder what it costs in terms of team development and experiential learning? Firms that regularly choose internet seminars or teleconferences over genuine training are doing a disservice to their employees.

Create an environment involving learning and personal growth for your employees. Regularly scheduled activities show that you are investing in these people and want them to expand and develop. What happens when you invest in training them, and they leave? There’s no straightforward reply.

However, don’t let that function as a reason to stop you from committing to education for your employees. If you choose, they will be better and thus and so will your company for whichever time they are with you.

Another strategy, while applied, should not be underestimated. It is value. When I get to this strategy within seminars, there is usually one boss or manager within the audience that will sarcastically retort, “I show them I value them every time I provide them with a paycheck! ” Usually, I respond by stating, “You’re right. But could you rather be right or even look for a new employee? Inch Touché.

That is music to some business persons’ ears because it usually costs 10X much more to recruit, train, and hire a new employee than it does to invest in retaining those you already have. That is a staggering quantity. So showing some gratitude to your employees is vital within a down economy.

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