7 Ways to Increase Employee Retention: Employee Growth

Two people meeting in office

How often do you get the chance to expand beyond your current retention or recruiting strategies? It’s common for managers to get stuck in the daily work routine and overlook the growth opportunities their employees want. That neglect may mean a greater chance of talented employees leaving in the short run. Around 48% of employees would switch to a new job if offered skills training opportunities, according to a 2021 Gallup survey

Our previous blog talked about how diversity and inclusion support retention efforts. Today, we’re looking at what employee growth means for different types of employees and how to get started at your company. 

If your workforce doesn’t allow for employee growth, neither does your company. Your people help move your company forward and contribute to your profitability in many ways. They can also cost a lot in productivity if they’re disengaged. Company leaders have a unique opportunity to help employees build skills and align individual goals with business objectives to increase productivity and keep people motivated.  

 

Unique people, unique goals

To have a well-rounded team, you need people that use different methods to grow. 

In her book, Radical Candor, author Kim Scott talks about an employee’s potential paths. Some are “superstars” who climb the ladder. Others are “rockstars” who have no interest in management. 

Your superstars are great at what they do and want to lead others into greatness, too! Setting them up for career advancement means giving them projects to lead or move forward. Even if they aren’t a manager yet, they want the added responsibility of directing others to accomplish a goal.

Conversely, rockstars want to grow within the role they have now. These employees set the standard for new hires and encourage consistency across a team. Growth for a rockstar can include specialized training, attending industry conferences, and investing in technology that makes their job easier. 

Firstly, it’s important to recognize who these people are on your team to understand the growth path they wish to take.

Let’s talk

Next, it’s time to have candid conversations with your employees about skills, hopes, and goals. Talk through individual goals in short meetings like a weekly one-on-one or monthly check-in. When employees can be transparent about the type of work they love (or don’t love), managers can stay ahead of issues that may cause them to look elsewhere. 

“When done properly, setting goals can improve commitment materially and help clarify an employee’s role – the single biggest driver of organizational health.” – McKinsey & Company

Get started with employee growth

Finally, establish or re-evaluate your performance review process to create a system that aligns professional and company goals. While some companies use formal presentations or paper documents, you might try an online tool to set and track goals in one place. At Nextep, we offer a performance management tool that allows employees to create goals, share feedback, and build action plans. 

Explore education options that teach new skills or build up existing skills. Notably, online training is an approachable and cost-effective choice. That can include short training videos, webinars, or quick tutorials with relevant content.

Depending on the roles at your org, you may have a unique opportunity to help employees earn certifications. At Nextep, therefore, we support our payroll employees to become Certified Payroll Professionals and our HR business partners to achieve their SHRM-CP or SHRM-SCP credentials. 

The truth is, you can’t keep all of your brilliant employees. But be sure to wish them good luck and get ready to find the next great person to fill that role. Aside from the standard benefits employers offer, you can also attract top talent by showcasing how you help professionals grow in their careers.

There are many ways to help your employees achieve their goals. Nextep is here to help you along the way! 

Continue building your retention strategy and check out our three ways to become an employer of choice

Want to read more? Check out our other articles in The Great Retention series!

DEI

Flexibility

Pay

Engagement

Benefits

 

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