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We all know how important employee retention is for companies. From company profits to productivity to culture, retention has an impact on all areas – both for the better and the worse. The rapid changes COVID-19 brought to business has changed the game when it comes to retention. The digital transformation that was taking place prior to COVID has been thrust forward, leaving many of us scrambling to catch up. The question we now need to be asking is not how can I retain my employees, but how do I retain employees in a digital/remote work reality? Adding this question and business need to the hundreds of others we are already dealing with can feel overwhelming. It doesn’t have to be because there are proven tools that are easily implemented. We’ve compiled three main tips that can help you retain your employees in our new working reality to ensure the success of your business:
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Reskilling
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Reskilling is a practice that we can expect to see grow exponentially in the next 5 years. Why? Because it is effective, impactful, and helps to grow and retain your existing employees. As Sean Hinton wrote in a recent Forbes article “…reskilling allows for internal mobility within workforces as employees can transition career paths, reskill to fill immediate needs…and gain essential skills needed for future requirements.” Investing in reskilling allows you to ensure you have the RIGHT people in the RIGHT places. It allows your employees to grow their own skillsets and expand their interests and expertise. All of this shows your employees that you are invested in and value them. This is imperative to retaining your key employees.
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Boundaries
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Burnout has a huge impact on employee retention. We all want to avoid this for ourselves and our employees, however, it can be difficult to manage in a digital environment. As the digital transformation continues to evolve, the need to proactively avoid and mitigate burnout is necessary. Luckily, there is a (relatively) easy way to help make this happen by setting boundaries. The most important one? Work vs. life balance boundary. As more and more people work from home, suddenly our home life is intermingled with our work life. Separating the two can be hard. In a recent blog, we provided some key tips that can help you enforce this boundary/separation for your employees. One of our favorite tips is setting clear expectations and supporting a hard stop time each day.
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Culture
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Company culture remains one of the most powerful tools to help with employee retention. Especially in the digital/work from home reality. The shift from in-person offices, meetings, and events can be really hard, particularly on the company culture side. Our job as business leaders and managers is to understand our core cultural values and practices so that we can transfer these into a digital sphere. Whether its utilizing new tools or instigating new company holidays and breaks, be sure to include your employees in any decision that impacts the culture. This way, you ensure you have buy-in and support and that your employees feel valued.
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Figuring out how to have good employee retention in a digital reality provides us with a golden opportunity. It can help businesses understand more about their core values and culture. It provides more opportunity than ever for employees to grow, expand their skillsets and build unique career paths. If you and your company think outside of the box, we are confident you can turn the “stress” of employee retention into a successful strategy, and the three tips above are the tickets to help you on your way.
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Interested in learning more about employee retention in the digital age? Contact our team at Kim@QuantumMark.com today!
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