Six Important Steps to Retaining Your Employees Once You've Recruited Them

Don't just hire great staff. Keep them.

The labour shortage is something we're all trying to grapple with.
So once you hire a diamond employee...

...fight to keep them.

The average staff turnover rate in Australia is around 8.2%.Many businesses are experiencing higher rates than this.

Late last year, 1 in 3 Australian companies said they were dealing with high turnover rates - as their staff come to re-evaluate their lives after the pandemic.

So how do you keep great staff once you've caught them?

• Hire right to begin with. If you hire someone who ruins the work culture, your best employees will leave.
  
• Unbeatable salaries. Money really talks, so offer way above market rate and the best employees will see that they are valued - and therefore they will stay on board.
  
• Monitor and remove the bad apples. Toxic employees are incredibly hard to find. So, pay close attention to work dynamics, and regularly check in with staff to ensure everything is okay and solicit honest feedback. Actively listen and act upon their advice.
  
• Reward, recognise, and - if you have to - raise. Praise the amazing work your staff is doing. Recognise their contributions and efforts. It doesn't matter how busy you are in the business. Don't take your employees' work for granted. Ever. If they deserve a salary bump, give it to them.
• Be flexible. Working from home, coming into the office late and leaving late, coming in early and leaving early, office in the morning and home in the afternoon. It's the new world of work - let your staff embrace it.
  
• Create career paths. Give employees a road to walk down. If they can see a bright future with you, they will stay. 

We know that today's marketplace is incredibly competitive in every industry globally.

Finding the right staff is one thing.

But it's only half the battle.

Once you've got them, you'll have to fight hard to keep them.