Why employee retention is so important today
Every working person currently works an average of 1.400 hours a year in Germany. Looking at the demographic development, we are facing busy times. In 35 years, we would therefore have to spend around 200 hours more to distribute the same amount of work to fewer and fewer workers.
This will not be without consequences for the labor market: Qualified skilled workers will find it easier to find a new employer year after year - and willingness to change will grow (LINK to the PM). But convincing employee loyalty is not only 2050 an elementary task of the executives. CompanyThose who already know how to effectively retain their employees will continue to attract the best talents in the future.
Feel-good factor boss
What is important to workers? When it comes to employee loyalty, I always hear the same criteria: reconciliation of work and life, a good salary, a good atmosphere in the company and in the team. But it gets really serious when the relationship with the boss does not fit. This is precisely why supervisors play a key role when it comes to retaining employees over the long term.
The study “How managers can contribute to the satisfaction of their employees”, which OfficeTeam published in March 2014, clearly shows that an important feel-good factor is often overlooked: the manager.
Happy in the job: The boss makes it
When employees are unhappy in their job, this often has something to do with the behavior of their supervisor. More than a quarter of respondents (28 per cent) complain about lack of appreciation from the boss. Almost as many are of the opinion that communication between supervisors and employees is insufficient.
In addition, 41 percent of respondents complain that their bosses show too little interest for their employees. According to the study, only one in three executives actively take measures for a pleasant coexistence. However, it is precisely these factors which lead to more satisfaction and to retain employees.
Three advice for your employee retention
Companies that want to tie their employees effectively should pay close attention to the leadership qualities of their department managers. I argue that managers' executive competences are faced with professional know-how. Therefore I advise:
- Maintain an honest praise culture. Make sure that praise does not disappear in everyday life.
- Establish regular and well-prepared appraisal interviews. They help you to recognize at an early stage whether someone has possibly already quit internally. I also recommend conducting an anonymous employee survey every year in order to detect any potential weaknesses and counteract them.
- Train leaders to identify and nurture talent - and how to enable their employees to deliver and succeed.
With these three advice, you will be able to do exactly what the above mentioned students are concerned about. It is no longer enough to offer an attractive salary, flexible working hours or a better balance between work and private life. Effective employee loyalty is not only in the future, but already today the boss!
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German edition: ISBN 9783965961968
English version: ISBN 9783965961975 (Translation notice)
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