How to Retain Employees During an Economic Upswing
What Does Today’s Economy Mean for Business
As a business leader you already know that a booming economy means greater sales and increased growth. You also understand that one important indicator of a booming economy is low-unemployment. AKA: Job markets bursting with opportunity and more movement in and out of jobs for individuals. This can be a source of dread for some CEOs who foresee business growth coinciding with an increase in letters of resignation from their top talent.
So what can HR teams do to avoid a bottlenecking of capacity? Improve the overall happiness of your employees! Provide perks, recognize achievements, help ensure a harmonious work-life balance, and you’ll be more likely to retain your awesome staff.
Here are some ways employers make work fun and show staff that they care:
- Great Communication: Communicate in a way that is informative and engaging. Why? To start, this report by Gallup, shows us that when teams are engaged, performance improves. When there’s important news to deliver or initiatives that
require lengthy explanations, think of explainer animations as your friend. Not only are they branded content that help create cohesiveness in communication, but they also make otherwise mundane information fun and accessible.
- Flexible Scheduling: People’s lives outside of work can be demanding. If an employee needs to leave early on Tuesdays to pick up a child from daycare or, occasionally needs to run an errand during work hours, have trust that they will balance their workload and complete their expected hours outside of the traditional 9-5 work structure. This adaptability helps promote an environment that is less stressful and more enjoyable for everyone.
- Personal Development: Invest in the individual, if there’s a new skill that an employee wants to learn that will help them on the job or otherwise, consider ways to help make this learning possible. Employees that feel that they are growing personally are happier. Added bonus: This will help your company stay ahead of industry trends!
The moral of the story is this: Invest in employee retention now, consider some of the steps mentioned above. People who are happy and satisfied at their jobs won’t jump ship as soon as low-unemployment strikes. Think of this time instead as an opportunity for growth, creativity, and animations!