Over the past few years, we have seen some significant shifts in our daily lives. Some of these have been extremely disruptive too. For example, we’ve been affected by the Covid pandemic and now we are being hit with the cost of living crisis.
Uncertainty negatively impacts your team's morale and overall productivity, not to mention how much it reduces motivation. So now has never been a better time to understand how to retain talent amidst uncertain times. As a leader you have an opportunity (and responsibility) to help your team feel more at ease, build their confidence and gain trust.
We wrote this article to share key ways you can use this climate that can be so difficult for many of your employees, and turn it around into a positive opportunity to make your team stronger.
1. Active Listening
Never disregard the importance of listening to feedback. When you listen and truly understand what your employees are crying out for, you are able to act quickly and efficiently, reducing staff turnover. Flexibility has become a priority in today’s climate, so providing options that work around your team’s lives has never been so important. Consider arranging 1:1 meetings with your employees to hear what they are struggling with at the moment. Use this feedback to start setting new processes in place that benefit everyone. Prove that you listen to your team!
2. Expand Learning Opportunities
If there’s one thing that brings down team morale, it’s a lack of growth. Now is the time to start introducing new and exciting development opportunities for your employees. Having access to growth helps put anxious minds at rest and allows your team to feel safe within their roles. Having new goals, challenges and potential promotions to reach can be a huge motivator. Many people think about leaving a company when they feel their position is at risk or when they don’t feel they have further opportunities for growth.
3. Prioritise employee well-being
Well-being is a key ingredient in a strong workforce. So as a leader, ensure you have the necessary processes in place to give back to your employees. Well-being must be accessible to everyone and remember you need to keep communication open especially with any new well-being processes you put in place. If you aren’t sure where to start with this, consider well-being rooms in the office or arranging group activities. Invest in mental wellness sessions online, and you could even consider arranging a newsletter sharing useful tips. Ensure your employees know that your door is always open if they need to speak to you about anything on their minds.
4. Invest in diversity, equity and inclusion
Diversity, equality and inclusion (DE&I) is an incredibly important, yet sometimes overlooked aspect of the workplace. Company culture is so important for retaining staff and attracting new talent. With a focus on DE&I in place, your workforce will improve as you allow inclusiveness and provide a safe space to learn about each other’s rich values. If you’re looking for mentoring opportunities, we can help you as you create a more inclusive environment for your employees!
5. Understand why employees leave
If your employees are leaving, ensure you receive honest feedback so you understand why and can act on this information provided. As an example, are your benefits not as competitive with other companies in your industry? Think about when you last carried out performance reviews with your team members. Are your employees due a raise or a bonus soon? If you don’t spend time understanding how you can make a difference, you’ll lose valuable talent when things could have easily been prevented.
If you’re a leader that is looking for additional support as you navigate the best way to retain your talent, contact us for a no-obligation discussion about your requirements.
We offer consulting services, leadership mentoring and skills training to help you lead successfully! Chat with us today.