So, you’ve had another employee leave, one that you invested time in, and hoped would stay at your company for the long haul. You are not alone in this – every industry is currently feeling the issue of employee retention, and in some cases, this is causing business to face closure. While there are many “solutions” advertised today, there is one small but mighty action that hardly any companies are using, and that is project management. We’ve seen this work first-hand in the direst of circumstances, and we’re here to share our insights. Read below to learn 3 ways project management can help you retain your stellar employees:
1. Allows employee concerns to be addressed
When project management is utilized correctly, particularly when you hire a 3rd party project manager, there is an environment created that is separate from everyday work. This is hugely important, because it allows a space for employees to feel they can raise concerns, without getting in “trouble.” This environment also allows employees to see things from a different perspective, helping them to understand what their concerns really are, and why they’ve possibly be unsatisfied at work. Employers can take this information to address concerns and keep their employees happy and engaged.
2. Creates an environment that promotes employee value
Another benefit companies see from the trusting environment a good project manager brings, is the promotion of an employee’s value. This is brought about by the fact that, when employees are working directly with a project manager, they have the chance to showcase skills, interests, and conquer potential fears that they don’t have in their usual daily activities. This can help companies see not only employee skills that aren’t currently being utilized, but also what team members work well together, who needs improvement and how support can be provided in certain areas. Getting this information just from observing daily tasks is nearly impossible, so it’s all the more important to seek the insights a project manager can bring to light.
3. Provides recognition and ownership amongst employees
Project management has another great effect on employee retention, and that is this: it provides employees with recognition from peers, bosses, and even outside stakeholders, as well as creates ownership within the employees themselves. This is significant for a few reasons, including the fact that ownership of a task, goal or overall company mission, increases the employees sense of loyalty, and develops strong brand champions. It also helps to increase their commitment and companionship with other employees and bosses, in turn increasing the chances they stay with the company vs. finding another job. The acknowledgement employees receive helps to further their sense of value and partnership and helps to bring stability to the company’s workforce.
Project management is a powerful tool for businesses, and the reasons listed above are only a few of many ways it can help companies retain their employees. The value goes beyond that, however. By utilizing project management, companies can also increase employee value, loyalty, and bring overall improvement to company performance. So, don’t let your best employees walk out the door – look for ways you can utilize project management today.
Interested in learning more about how project management can benefit you? Contact our team at Kim@QuantumMark.com today for an exclusive strategy session!