A committed employee is extraordinarily valuable. You can gain staff commitment by meeting people's key needs: paying attention to people at all levels; trusting and being trusted; tolerating individuality; and creating a blame-free, can-do culture. But why go through all these? What is the importance of gaining trust and commitment? It all goes down to the fact that when a company gains the trust and commitment of their employees they establish employee retention. And employee retention is vital in establishing a firm foundation as the company proliferates and achieves their goals.
1. What Is Employee Retention?
Basically, employee retention is all about encouraging the people to commit themselves throughout in the company. Through employee retention, the company is able to lessen the additional expenses of hiring and training new people and at the same time build trust and commitment within coworkers, the result of which is happier, harder working employees.
2. The Basics Of Gaining Trust
The quality and style of leadership are major factors in gaining employees' trust and commitment, thereby, initiating employee retention in the long run. Clear decision-making should be coupled with a mutual and emphatic approach. This entails taking people into your confidence and clearly and honestly valuing their contributions. In turn, you gain employee retention.
As the boss, you should also
- Make yourself as visible as possible
- Show yourself to be approachable
- Always be willing to listen to others
- Never ask an employee to do something you would not be willing to do yourself
- Learn to trust those who work for you - trust is a two-way street
3. Sense Of Ownership In The Organization
A company can gain trust and commitment and expand their shareholders at the same time by offering employees the opportunity to purchase shares in the company, or better yet, implement a rewards program where shares in the company are offered instead of monies. By letting them feel that they will realize that the success of the company is their success as well, and its downfall is their failure too.
If your employee takes pride in being a part of the organization or the company, chances are that employee will surely stay for good. Employee retention is achievable when the employee feels good about the work, loves the company, knows that they are in good hands, and takes pride in their work.
3. Willingness To Work Long Hours
If you are able to encourage your employees to work long hours without having to mandate them or push them, chances are you are establishing a good sense of employee retention. This just goes to show that the employee is more than willing to commit longer hours of work not because of the overtime pay but the fulfilment that he or she wants to achieve.
4. Holding Personal Values Consistent With The Organization
If your employees continue to take part in the company's values and moral standards and incorporate these things within their own system, this goes to show that they are committed to the company and that they are willing to be a part of the group for as long as it exists. That is a clear manifestation of employee retention.
5. Creating A Strong Sense Of Team Spirit
Employee retention can be achieved if you know how to foster a sense of team spirit. If this is achieved, you can be assured that your employees will serve best for the interest of the group and their individual satisfaction as well. Corporate events and challenges between departments (or even between store locations) are examples of how you can foster team spirit.
Commitment is the highest form of employee retention. If your employee is already committed to the company by expressing his or her desire to uplift the status of the organization, to boost productivity, and to refurbish mistakes and failures then you can be sure that the employee will stay for good.
Keep in mind that when employee retention is achieved, the company should, in turn, keep that retention as well by remunerating effectively and expressing appreciation through employee recognition. If this is all incorporated, then, a harmonious relationship between the employee and the company is at hand.