2017 is expected to bring many changes, many of which will have a severe impact on businesses. According to a survey of 3,300 full-time employees from across the globe conducted by Dale Carnegie Training, most people plan to leave their current job within the next few years. Of the 515 Americans surveyed, 26 percent plan to look for a new job in 2017. Another 23 percent plan to stay in their current positions for the next five years at most, while 15 percent are already looking for new employment. This leaves only 36 percent who plan to stay in their current position for the long haul.
Interestingly, only 3 percent of U.S. survey-takers reported being very dissatisfied with their jobs. Most of them – 48 percent – were somewhat satisfied. This implies that doing the bare minimum to keep employees happy isn’t enough. The question then becomes: What can businesses do to retain talent in 2017?
Provide Ways to Advance Their Careers
Employees appreciate a company that provides training relevant to their positions and career goals. However, this kind of development must come with opportunities for people within your business to move up the ladder. Without the chance to raise their position, your top talent will look for a company with more opportunities.
Maria Kraimer, a business professor at the University of Iowa, told Business News Daily that while most research finds merely providing career development opportunities retains talent, her studies show these efforts are unsuccessful if employees don’t believe there’s a place for them to advance within the company. Managers can consult with employees during regular check ins to understand their career goals and point out areas for them to move up.
“Through career-planning discussions, employees have opportunities to both formulate their career goals and share those goals with their supervisors,” Kraimer told Business News Daily. “As part of training and development, make sure employees are aware of the different types of career paths or job opportunities throughout the company.”
Make Them Feel Like an Asset, Not a Tool
Employees like to know they are beneficial to a company, not treated as a means to an end. Select International, an employment screening solution, suggested managers ask for input about new policies and encourage employees to set their own goals. Software that paves the way for your staff to create OKRs – objectives and key results – helps in the latter regard. This ensures your employees’ goals are measurable, time-bound and applicable to their jobs. Software also allows employees to see how their goals align with that of the company, giving them a top-down view of the benefits their work provides.
Create a Culture of Transparency
Employees gain a sense of security when they know what’s going on within their company. As Forbes noted, transparency helps your staff feel more united with the business as a whole and understand the thought process behind certain decisions. It also encourages them to collaborate and share resources, creating a feeling of trust that expands across all levels of your organization.
Goal-setting software helps by furthering this atmosphere of transparency, showing employees the goals of their peers and their business leaders. Knowing the company goals gives your staff the assurance that what they’re doing is valued work and helps them understand changes in business strategy.
With only a handful of employees planning to stay with their current employers, businesses must do all they can to retain talent and avoid having to constantly train groups of new hires.