“It’s not you, it’s me” - Why employees need more than just a good salary

“It’s not you, it’s me!”

Have you ever had that dreaded moment when an employee comes up to you and tells you they are leaving? After all your hard work, time and money spent training them up and making them feel like a valued member of the team… how can they just leave?

Sure, maybe there really isn’t anything you can do. They’re moving across the country; I don’t even think the best job in the world would warrant that commute.

Unfortunately, these things can happen and staff will leave, but if you’re finding that you’re going through more break up’s than most… it might just be you after all.

What can you do?

To have any chance of reducing staff turnover and preventing employees from leaving you need to give them a reason not to.

For me, a key part of this is to show your people that you value them. 2020 has brought a lot of changes, and 2021 is looking as though it will follow a similar path; but there is one constant. Namely that a business’ employees are its most valuable asset and should be treated accordingly (I spoke more about this on my last blog).

Employees should know that they are valued by their employers throughout their entire time with a business, in turn encouraging engagement and increasing the chance of retention.

Are you providing value to your employees? Here are just a few tips on how you can help preserve and value your own work force:

It’s not always about the money

I think we can all agree that fair compensation for the work provided is a given when it comes to retaining your staff, but value doesn’t always come in the form of a substantial salary and extensive bonuses.

Of course you should pay your staff well for what they do, and most salaries have to be competitive if you want to attract and retain employees in the first place, but it takes a lot more than that to keep them around.

Research studies published in Harvard Business Review prove that a correlation between salary and job satisfaction is actually very weak. Statistics show thatonce people are able to meet their basic lifestyle needs, their happiness and engagement are driven by other factors.

Invest in your people

As Richard Branson once said, “train people well enough so that they can leave, treat them well enough so that they don’t want to.”

For a lot of businesses, that may sound strange. I have to admit myself, on the surface it sounds like a downright daft idea. After all, why put so much into your employees if they’re just going to leave you?

But when you treat your employees well and give them the tools they need to be the best at what they do, you create loyalty and give them a reason to stay.

Not to mention, the influence your staff have over the success of your business already. By educating, coaching and training your employees, you’re arming them with skills that will undoubtedly raise their productivity and performance levels.

Communicate with your team

Now more than ever it’s crucial you have an open line of communication with your team and make sure you are regularly checking in – especially if you have staff remote working.

As workplaces continue to change and adapt to the pandemic, it can be a lot to keep up with. You should encourage a constant dialogue with your employees, making it a lot easier for them to raise any issues they have.

If your employee ever says, “I need to hand my notice in, I’ve found another job”, the chance is you’ve already lost them. Creating the sort of environment where discussion is encouraged makes it a lot less likely you’ll ever get to this point and eliminates the potential for any other nasty little surprises.

Tough break up?

If you’re struggling with your staff turnover and are wondering where to turn to for support, just drop me an email (andrew@ajbhrcs.co.uk) or pick up the phone (01788 228608).