Employee retention:
the best return on investment

You may have heard: the last few years, there have been big shifts in workforces throughout the world. ‘The Great Resignation’ had record numbers of staff members looking for better opportunities. They moved on. Leaving some companies in a pickle. So how do you boost employee retention? With a bit of corporate TLC. Read on.

Employee retention, what is it, and how to invest in it?

Employee retention is the art of keeping employees within the organization. To keep the team intact. How? By creating a work environment so engaging that employees don’t want to leave. It’s not just about keeping seats filled. It’s about investing in people, nurturing personal growth, and building a culture where everyone feels good.

So, where to start? Well, you could start with open communication, promoting work-life balance, providing growth opportunities, recognizing and rewarding efforts, and building trust. Just to name a few little things.

Of course, it’s not that easy, but these strategies are just cost-saving AND contribute to happiness and employee engagement. After all, when employees thrive, so does the business.

The Corporate Rebels approach

We don’t need to tell you how important employee retention is to an organization. It's about keeping the talent you've worked so hard to get. The ones that can take your organization to the next level. At Corporate Rebels, we're on a mission to make work more fun. Sounds trivial, but it’s not a bad place to start. Because employees will want to stick around.

Our view on employee retention is holistic. We don't just look at salaries or benefits (though they're important too). We need to delve deeper, by looking at the DNA of organizations. The purpose, if you will. Work should be a source of fulfillment, not just a paycheck.

We do this by looking at the pioneers in this field. Their company culture, organizational structure, communication channels, and more.

But we don't just talk the talk. We walk the walk. Through our Academy, we offer a range of courses designed to help organizations transform their workplaces. From upgrading your feedback approach to making better decisions, these courses provide practical tools to improve employee retention.

Read more about employee retention

01.
Why Didn't Apple's Employee Retention Work?
Apple failed with retaining people. As the company struggles in the face of its competition, especially Meta, Apple’s attempt to keep its talent in-house didn’t go as expected. Here's why.
Read more
02.
The Great Resignation: How To Stop Losing Your Talent
Companies across the globe, and particularly those in the US, are facing a great challenge: people are quitting their jobs or people are checking out. One could say that this movement was unforeseen but...
Read more
03.
To Retain Employees, Give Them a Sense of Purpose and Community
Most employers are anxious about the mass exodus happening from today’s workplaces. Widespread conjecture about what’s behind “the Great Resignation” ranges from people wanting...
Read more

Key factors influencing employee retention

When it comes to employee retention, several factors come into play. Let’s dive into some of them:

Work environment

The vibe of a workplace can make or break an employee’s decision to stay. A positive, inclusive, and supportive company culture brings a sense of belonging. To optimize this, focus on building a culture that values everyone and encourages collaboration.

Compensation

Fair pay is important. Everybody needs to feel that their work is being rewarded. Bills need to be paid. Kids want to go to college. It’s the basis of why we work. Invest in it. Regularly review your compensation packages, to ensure they’re competitive in your industry. Or consider letting team members set each other's salary.

Growth opportunities

People are more likely to stick around if they can envisage a nice future. That can be in the same organization. If not, then elsewhere. Providing opportunities for growth and development isn’t something ‘extra’, it’s essential

Leadership

The role of leadership in employee retention shouldn’t be underestimated. Leaders (not micromanagers) who inspire, support, and communicate effectively with their teams can significantly boost retention. After all, who doesn’t want to feel respected.

Of course, work-life balance and flexibility play a part in employee retention. As are the other team members, so work on a great company culture. There are more factors, also depending on industry, average employee age, and individual factors.

How does leadership affect employee retention?

Leadership plays an important role in employee retention. In our view, effective leadership isn’t about hierarchy or control, but about fostering an environment of trust, autonomy, and mutual respect. Leaders also don’t have to be managers. The role of team leader can be fluid, or team leaders can be part of the team itself, like at Spotify.

Leaders, in this context, are not just decision-makers. They’re facilitators who help create a safe and collaborative work environment. This kind of leadership style can significantly enhance employee satisfaction and, consequently, retention.

As a leader, you play a big role in recognizing and rewarding employees’ efforts, providing growth opportunities, and promoting a healthy work-life balance. We’ve seen that these factors are key elements of employee retention. And good leadership.

In addition, modern-day leadership is based on leading by example. It’s about embodying the values you want to see in the teams. As a leader, you can do this by demonstrating a positive attitude, showing empathy, and treating everyone with respect. Employee retention will surely follow suit.

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