Whether employees feel emotionally invested in the work they’re doing is the ultimate decider in whether they’re likely to stay with a company. 

Employee engagement and retention

Studies have confirmed that employee engagement and retention rates are ultra-connected, showing that employees who are engaged perform 20% better and are 87% less likely to leave. 

Maintaining good employee engagement should be a priority for every organisation. CoachHub’s Guide to Employee Engagement explains the topic in more detail, and outlines the key areas that businesses should focus on to see results.

Management is key

“People don’t leave jobs, they leave managers.” 

This is a popular saying because it’s true! Employees unhappy with their relationships with their managers are likely to look for other opportunities.

Of course, sometimes personalities simply clash and managing styles are different. However, many problems arise through lack of management experience, and there are few situations that can’t be improved with training. In one survey, nearly half of employees reported that they’d quit a job because of a bad manager, and 60% said that managers need more training.

21st-century coaching for managers

Managers struggling to guide their team can particularly benefit from a coaching program that enables them to build on their skills, identify their weaknesses, and reconfigure how they relate to their colleagues. CoachHub transforms people into highly effective, inspiring managers through leadership coaching. Opportunities like this will make people feel supported and help them cope with the associated challenges of running a team.

Being aware of employee needs before they are vocalised, and helping managers develop their skills in a positive way that will benefit everyone, can have a game-changing impact on employee retention.

Skill development shouldn’t be an afterthought

While praise, respect and trust can help motivate employees, investing in them is concrete proof that they’re valued. Employees who know that their company is helping them level up their skills are much more likely to really focus on building their career there.

Which skills does a workforce have, and which would they like to develop? Everyone enjoys learning something new and improving their career chances for the future. There might be considerable buried talent just waiting for an opportunity to emerge.

While whole-workplace training can be useful, in these situations personalized, flexible digital coaching is more likely to help employees find something they really excel at, increasing their confidence and job satisfaction. 

Creating futures within the company

Attitudes to job stability have changed rapidly over the past ten years. Young professionals are increasingly less tied by company loyalty, and may be hesitant to stay in one place if they can’t see a clear route forward.

Focusing on skills development is one way to counter this. However, this should be done in tandem with the provision of real potential for advancement within the company.

It’s not that young people want to go elsewhere – it’s that they often have to. 

93% of employees say they would stay at a company longer if it invested in their careers. 

Leaders can improve employee retention by valuing their current workforce, opening routes to success and rewarding loyalty. Use talent management tools to find out where staff want to be in five years and support them to make their aspirations reality. 

The remote work revolution

With 2020 revolutionising the world of flexible and remote working, companies are increasingly finding it harder to justify requiring daily office time. 

But one thing that’s been under-appreciated during discussions about the future of work is the amazingly positive impact that remote working options have on employee retention rate. 

Studies have shown that companies which encourage remote working have a turnover rate of 25% higher than companies that mandate office working. 

This means it’s absolutely worth adopting a modern approach to work and bringing in remote working options – if they aren’t already in place. 

TIP: If in-person meetings are necessary, could staff have the option to work two days/week from home? Of course, every industry is different, but this change could make a positive difference for the whole workplace.

If staff skills are stagnating or the lack of face-to-face check ins during remote working time are concerns, there are ways round that, too. Flexible online coaching An online coaching platform is a 21st-century way to keep employees accountable, on track, and learning new skills – without requiring much time from management. And with potential savings to be made on office space, where better to invest that money than in staff?

95% of HR leaders are concerned that employee burnout is sabotaging workforce retention. 

Remote working can go some way to combatting this, enabling employees to effectively balance work tasks with off-the-clock duties. However, there’s more that leaders can do – such as promoting flexible working schedules.

More and more businesses are adopting flexible policies with core hours that enable employees to collaborate, while tailoring their day to fit their personal needs and productivity levels. 

Employee wellbeing and work-life balance

Moving beyond presenteeism and towards a way of work that suits employees and leaders reduces staff stress, and increases job satisfaction and staff retention.

TIP Health is another factor to consider in preventing burnout. Check that staff don’t feel pressured to work when ill. Rest and recovery are important for ensuring people can bounce back, rather than feeling overwhelmed and uncertain about their future.