How to Drive Retention In Your Organization

The best resource within your organization isn’t your new tech or equipment—it’s your people. A cohesive, dedicated team empowers your organization to reach business objectives and deliver exceptional products and services. Attracting and retaining top talent is a practice, not something that’s guaranteed. 

Retention is the product of a thriving organization with a solid foundation of efforts to keep employees satisfied. While it's natural for employees to transition out of your organization periodically, if you’re experiencing high turnover rates, it might be a reflection of a larger issue. Let’s dive into some primary ways to drive retention in your organization.

Competitive Benefits

As much as we love the work we do, it should come as no surprise that pay and benefits are a significant factor in retaining top talent. Beyond a competitive salary, benefits can be a deciding factor in choosing a company or choosing to leave a company. Benefits like health care, tuition reimbursement, and retirement contributions are significant deciders in the retention in your organization. 

Contribution toward Your Organization

With the rise of remote and hybrid work, employees can easily feel like isolated individuals within an organization. Fostering an environment of collectivism allows staff to feel valuable within their company. People feel more connected if they’re contributing to a greater goal.

On the opposite side of the same coin, it’s essential to give your employees trust and autonomy. No one likes to be micromanaged. Being aligned on goals and objectives is a must, but allowing your employees the space to thrive within their positions fosters a positive work environment and drives retention among your staff.

Company Culture

If your organization doesn’t prioritize culture, it will be evident in your business outcomes and retention. Company culture is a top-down approach. If your business owners and leaders aren’t implementing culture efforts, they won’t be integrated into the company. Investing in culture is only the first step. 

Offering enticing benefits becomes meaningless if the culture is prioritizing something different. Having competitive PTO is only a perk if the organization encourages employees to use it. Having a solid footing on the cultural aspect of your organization lays a strong foundation for driving retention.

High turnover is extremely costly, and repetitive onboarding wastes valuable time and resources. Your retention rates set a tone at your organization and can be perceived as a reflection of how employees are treated and how culture is implemented. If your organization struggles with turnover, invest and commit to building a strong company culture, but know that this likely means making organizational changes. Implementing culture and driving retention takes time and effort; it’s not an overnight process. You can ask for feedback about your organization, but don’t ask these questions unless you are ready to make changes.