When your company is going through periods of rapid growth, there’s so much for senior managers to think about that employee retention can often slip to the bottom of the list.
However, to ensure you can sustain your company’s growth and manage it efficiently, you’ll need the services of those employees who have helped get you where you are today.
so, when you’re going through major changes quickly, how can you keep your best workers?
create a strong company culture
A strong culture will attract new talent and increase employee engagement among existing employees. Indeed, Monster contributing writer Dr Steven Hunt has highlighted how “culture is often a key factor in long-term organisational success”.
People often join companies for the culture, so you must ensure that yours is maintained, even if you’re going through a period of massive growth. Make sure that the new hires you’re bringing on board will fit in with their co-workers and keep lines of communication open.
If employees have concerns, they know they’ll be heard.
make workers feel valued
Communication is just one aspect of making workers feel valued - and doing so is vital to your company’s employee retention rates. You should be ensuring you’re keeping workers at all levels up to date with recent developments in the company’s growth and giving them a chance to have their say.
If you have a clear idea of where the company is heading, make sure you’re letting your workers know their place so they can share in the vision. When people know they’re making a valued contribution, they’re more engaged, making them more likely to stay with your organisation.
Additionally, while it may be easy to forget the importance of recognising your employees, you can’t afford to overlook them. If the company is already unsettled, you need to keep your workers as satisfied as possible, and recognition is a significant part of doing so.
provide opportunities during the growth
It would help if you gave people incentives to stay to keep their best talent. In the current employment market, you should provide opportunities for personal and professional growth.
This is reflected by LinkedIn’s Global Talent Trends report, which found that 44% of candidates reported the deciding factor for them when accepting their current company’s job offer was the possibility of career advancement.
This means that during periods of rapid growth, your company should be investing in your workers’ futures by keeping them highly trained to promote them when suitable. This has the added benefit of boosting productivity when your business needs it.
Employee retention is an art rather than a science, so it’s important to continuously analyse and evaluate the situation to determine whether different actions are required. However, the above steps will give your company an excellent basis for retention during periods of rapid growth.
But before figuring out how to retain your best employees, you'll need to be able to attract them first.
Find out which key attributes drive an employer's attractiveness in the Randstad Employer Brand Research 2018.download the report