How to Retain Your Team Members in 2022 and Beyond

In the current climate, the employment market has been very tough for many. The average number of applicants per job advertised by Impact is still approximately 30% less than what it was before the COVID pandemic. With that in mind, it is important to hold on to the great team you have. Here are some great tips for retaining your team members in 2022 and beyond!

4 Reasons Employees Are Quitting in 2022

In order to retain employees, it makes sense to understand why they’re quitting!

Career progression
Better pay
Poor leadership or culture in their current workplace
Burnout or lack of work-life balance

How to Retain Great Employees

Get Creative with Career Progression Opportunities

Some businesses may be unable to provide a broad range of career opportunities to employees, however there are alternatives that could be considered.

Try involving your team outside of their normal duties to give them a better understanding of your business and to realise how important their work is. Listen to their feedback and incorporate it into your strategy. This can lead to positive changes in the workforce, such as:

More engagement
Feeling of value and worth
Innovation and new perspective
Upskilling

Financial Factors – it's more than just ‘more money’

Some businesses may not be able to offer pay increases for employees, however there are some non-financial alternatives that may be beneficial.

These include:

Offer greater flexibility to team members, which will usually result in greater retention of employees and increased attraction for candidates.
Offering additional paid leave – could your business accommodate for an additional day off a month? A leave day for birthdays? Early finishes on a Friday?
Other options like providing gym memberships or health/life insurance to employees.

Creating a High Performing Culture

Ask your team for their input, play to their strengths and offer growth for areas of weaknesses.

Open communication and ‘safe zones’ in non-hierarchical settings where team members can share their thoughts will provide much needed clarity for both employers and employees.

Try doing team building tasks together to boost morale.

Short, effective, regular meetings with a set goal and agenda can help the team to feel supported.

Change the physical environment of your workplace to something your team wants to work in. At Impact, we have moved out of a conventional corporate office space and into a townhouse! There are several quiet, relaxed areas so our team are able to move away from their desk for some down time. Team members are also able to sit outside among the flowers and trees to soak up some sun with their laptops, and it provides a whole new dimension to productivity!

Managing Burnout or Lack of Work-Life Balance

Burnout affects all types of businesses. If you believe one of your team members may be experiencing burnout, don’t be afraid to ask them how they are in an informal setting.

It may be that things outside of work are affecting your employee like...

Caring for a sick family member
Relationship challenges
Not enough time in the day to relax or hit the gym

A simple solution could be allowing them to adjust their start/finish times slightly, or work from home one day a week. Supporting your employees by understanding their personal life and commitments will pave the way for improved performance and the ability to focus.

Now, more than ever, it is important to hold on to the valuable team members you have. Get creative about progression for your employees, be proactive in asking them how they’re doing at work and offer non-financial perks to show your appreciation for their hard work, where possible.

How to Retain Your Team Members in 2022 and Beyond