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

 

Also on Nextep

Get the low down on how to handle pay correctly. Should you pay your employees for working during lunch? Yes.  Easy answer! Right? Well, no. Though the simple answer is an emphatic yes, it’s a bit more nuanced.  The topic of lunch and compensable time can be tricky. There are many ways an employee could […]
Read more
An employee’s first day at a new job can set the tone for the working relationship going forward. In fact, according to research by Brandon Hall Group, organizations with a strong onboarding process can improve new hire retention by 82% and productivity by more than 70%. Though the employee may feel stressed or nervous, the […]
Read more
Your company policies and values are only as good as the leaders implementing them. Get your leadership team on board, make sure they’re living out your company values, and support them to ensure they get the help they need to lead well. “Half of workers who quit their jobs say they left because of their […]
Read more
…And what you should ask instead Say you’re recruiting top talent for your company and find a few excellent candidates. When it’s time for the job interview, you smile, shake hands (or wave hello over Zoom), and sit down for a productive conversation. Your first question is a softball to help warm them up: “Have […]
Read more
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 […]
Read more
Could your employee handbook stand up to a lawsuit or EEOC claim? Here are six tricky areas that could mean trouble for your company. Landmine 1: A handbook that’s older than dirt When was the last time you reviewed your company’s employee handbook? If it’s been longer than a year, then it’s been too long.  […]
Read more
We all know the importance of regular physicals and check-ups, but when was the last time you checked in on your mental health? May is Mental Health Awareness month, serving as a good reminder of how crucial a healthy mind is in the overall map of our wellbeing. This list and infographic can get you […]
Read more
If you’ve made it to this blog on leadership training, chances are you’ve spent some time with us the last couple of months as we dove into turning The Great Resignation into The Great Retention.  So far, we’ve covered flexibility, DEI, employee growth, pay, employee engagement, and benefits. While each of these is important, when […]
Read more
It’s no surprise benefits are one of the top reasons for employees staying with a company or going elsewhere. The Society for Human Resource Management (SHRM) study shows that 36% of employees leave for better benefits. Employee retention can be daunting, but we’re here to break it down! Therefore, we’re talking today about benefits. We’ll look […]
Read more
Employee engagement is a crucial piece of the recruiting and retaining top talent puzzle. When it comes to employee engagement, few people in Nextep can speak more authoritatively on the subject than our very own Director of Happiness, Tracey Hixon. To help you get started, Tracey answers some questions about how to retain employees by […]
Read more
In our employee retention series, we’ve talked about flexibility, employee growth, and diversity, equity, and inclusion (DEI). Now, let’s look at another topic that has a massive impact on attracting and retaining top talent: pay! The Great Resignation and the impacts of an ongoing pandemic have long-lasting effects. As a result, employees are evaluating their […]
Read more
Now is the time for employers to carefully review any arbitration or employment agreements they have in place. On March 3, 2022, President Biden signed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act (HR 4445).  In cases of sexual assault or harassment in the workplace, many employers ask employees to sign arbitration […]
Read more

Download Our App