Knowing why people leave is great; you can start to put actions in place to slow down attrition – but also understanding why people stay is essential too.
Understanding what drives retention in your business lets you focus on the things that you can control and know that you are driving the outcome you are looking for – Employees who will stay, thrive and deliver with you.
The 8 factors below come from our own data from our surveys:
Line Management
- Support
One of the eight drivers of retention is line management, which refers to the role and support provided by managers in helping employees feel supported and engaged in their work. Line managers play a crucial role in providing support and guidance to employees, which can have a significant impact on their job satisfaction and likelihood of staying with the organisation.
2. Challenging Goals
Following on to setting challenging goals within line management. When line managers set ambitious goals that push employees to grow and excel, it can not only increase their engagement but also contribute to their long-term commitment to the organisation.
People Practices
3. Work Flexibility
The next driver is work flexibility. Offering flexible work arrangements, such as remote work options or flexible schedules, can boost employee satisfaction and retention by allowing them to achieve a better work-life balance and accommodate personal needs and responsibilities.
4. Training & Learning
Another one of the eight drivers of retention is people practices, with a focus on training. Providing employees with opportunities for ongoing training and development not only enhances their skills and knowledge but also demonstrates investment in their growth, which can increase their motivation and loyalty to the organisation.
5. Being Treated Fairly
When employees feel that they are being treated equitably, with fairness and consistency regarding promotions, compensation, and performance evaluations, they are more likely to feel valued and stay committed to the organization over the long term.
Wellbeing Practices
6. Supporting Wellbeing
This can be achieved through promoting physical wellness, mental health, and work-life balance, creating a positive workplace climate, and offering benefits such as health insurance, wellness programs, and employee assistance programs.
Communication
7. Change is Discussed
One of the eight drivers of retention is effective communication, particularly when it comes to discussing changes within the organisation. When employees are kept informed and involved in the change process, with clear and timely communication about the reasons, impacts, and plans, they are more likely to feel engaged, supported, and less resistant to change, ultimately increasing retention.
Organisational Effectiveness
8. Beneficial Work Processes
When employees have efficient and well-designed processes that enable them to perform their tasks effectively and achieve their goals, they experience less frustration and burnout, resulting in higher job satisfaction and increased retention rates
Taking Action
If you are looking to tackle Employee Retention in your organisation, we recommend creating your own organisation's unique drivers report. To allow you to explore this through your own lens.
Our own analysis suggested that the following might be helpful areas for taking action to improve retention:
- Helping line managers to be better at both challenging and supporting their teams (also the basis for resilience)
- Providing greater access to flexible working
- Ensuring that people have the training that they need to do their job well
- Equally, making sure processes and systems are efficient, effective and enable people to ‘get stuff done’
- Designing and implementing people management processes and practices that are fair and equitable
- Providing practical support for people’s wellbeing
- Communicating clearly and openly, especially around change
Download our E-book “Employee Retention: A data-driven approach to keeping your people”
Contact our team to find out how we can help you improve retention with better data.