How to develop an employee retention strategy for your deskless workforce
6 actionable steps you can take to retain your deskless employees
Introduction
Employee retention is critical for organisations to be successful – it indicates good employee morale and engagement, while ensuring stability and reducing costs.
But with a recent study suggesting 49% of UK deskless workers are open to new opportunities, you could argue some organisations are missing the mark when it comes to their employee retention strategy – assuming they have one at all.
In the following article we’ll cover what an employee retention strategy is, why it’s important, and the difference between strategy and tactics, before identifying the 6 key steps you need to take to develop a strategy that retains your organisation's ‘everyday heroes’.
What is an employee retention strategy?
An employee retention strategy is a set of proactive measures and initiatives that an organisation puts in place to retain its employees and reduce staff turnover. The outcome should involve creating a positive work environment, providing attractive benefits, offering opportunities for growth and development, and addressing employee concerns and feedback, among other initiatives.
The goal of an employee retention strategy is to encourage employee loyalty, engagement, and commitment to the organisation, which can lead to increased productivity, reduced recruitment and training costs, and improved overall organisational performance. An effective employee retention strategy takes into consideration the needs and expectations of the organisation's workforce and is aligned with its culture, values, and business goals.
Why is employee retention important?
Organisational knowledge and expertise
Retaining employees allows organisations to retain valuable knowledge and expertise that is built over time. This knowledge can be critical to organisational success, as experienced employees possess an understanding
of processes, and industry-specific knowledge that can be difficult to replace.
Employee morale and engagement
Employees who feel valued and engaged are more likely to stay committed to their organisation. Retaining employees helps foster a positive work environment, where employees feel motivated, engaged, and appreciated, leading to higher morale, job satisfaction,
and overall employee wellbeing.
Employer brand and reputation
Organisations with a reputation for high employee turnover may struggle to attract and retain top talent. A strong employee retention strategy can enhance an organisation's employer brand and reputation, making it an employer
of choice in the job market, and helping to attract and retain high-quality employees.
Customer satisfaction
Employee turnover can disrupt customer relationships and impact customer satisfaction. Retaining employees who have built relationships with customers can help maintain continuity in customer service and ensure customer satisfaction, leading to improved customer retention and loyalty.
Cost savings
Employee turnover can be expensive
for organisations due to the costs associated with recruitment, hiring, onboarding, and training of new employees. Retaining employees reduces these costs and allows organisations
to allocate resources more efficiently.
Productivity
High employee turnover can disrupt
workflow and negatively impact productivity. Retaining employees helps maintain stability and continuity in the workforce, leading
to increased productivity as employees gain experience and expertise over time
Strategy
Strategy refers to the plan an organisation takes to achieve a specific goal or objective. It involves making decisions and setting broad directions based on an understanding of the current situation and future aspirations. Strategy typically encompasses long-term planning and involves setting goals, determining priorities, allocating resources, and establishing guidelines for decision-making.
Tactics
Tactics, on the other hand, are the specific actions taken to implement the strategy and achieve the desired outcomes. Tactics are more focused and detailed compared to strategy, and they are often shortterm in nature. They involve the practical steps, methods, and techniques used to execute the broader strategic plan. Tactics can be adjusted and modified based on changing circumstances and are aimed at achieving specific objectives that contribute to the overall strategic goal.
Step 1. Conduct a baseline assessment of your employee population
This involves gathering and analysing data and information about your current workforce to establish a starting point or benchmark. It provides a comprehensive understanding of your employees' characteristics, needs,
and perceptions, which can serve as a foundation for developing targeted strategies and initiatives to improve employee retention, engagement, and satisfaction.
1. Define the objectives:
Clearly articulate the purpose and goals of the baseline assessment. For example, you may want to assess employee demographics, turnover rates, engagement levels, satisfaction with compensation and benefits, career development opportunities, and overall job satisfaction.Define the objectives: Clearly articulate the purpose and goals of the baseline assessment. For example, you may want to assess employee demographics, turnover rates, engagement levels, satisfaction with compensation and benefits, career development opportunities, and overall job satisfaction.
2. Identify data sources:
Determine the data sources you’ll use to collect relevant information. This may include HR records, surveys, focus groups, interviews, exit interviews, performance evaluations, and other relevant sources of data.
3. Develop data collection methods:
Choose appropriate methods to collect the data, such as employee engagement surveys, interviews, or data analysis from existing records. Ensure your data collection methods are valid, reliable, and aligned with the objectives of the assessment.
4. Collect and analyse data:
Implement the data collection methods and collect the data from the identified sources. Once the data is collected, analyse it to identify trends, patterns and insights related to the baseline assessment objectives. Use statistical analysis or other relevant tools to derive meaningful conclusions.assessment to determine their impact on the employee population.
5. Interpret the findings:
Interpret the data findings to gain a clear understanding of the current state of your employee population. Identify areas
of strengths and weaknesses, as well as opportunities for improvement. Consider both quantitative and qualitative data to get a holistic picture.
6. Develop action plans:
Based on the findings of the baseline assessment, develop action plans to address areas that need improvement. Set specific, measurable, achievable, relevant, and time-bound (SMART) goals and develop strategies and tactics to achieve them.
8. Monitor and measure progress:
Implement the action plans and monitor the progress over time. Continuously measure and evaluate the effectiveness of the strategies and initiatives implemented based on the baseline assessment to determine their impact on the employee population.
Conducting a baseline assessment of your employee population is crucial for understanding the current state of your workforce and identifying areas for improvement. It provides a solid foundation for developing evidence-based strategies and initiatives to enhance employee retention, engagement, and satisfaction, leading to improved organisational performance and success.
Step 2: Identify retention risks/factors
Here are some steps to help you with this process:
1. Review turnover data:
Analyse turnover data obtained from the baseline assessment to identify patterns or trends related to employee turnover. Look for factors such as high turnover rates, turnover in specific departments or job roles, turnover among specific demographic groups, or turnover during specific time periods.
2. Review employee feedback:
Review feedback obtained from surveys, interviews, or other sources of qualitative data in the baseline assessment. Look for common themes or concerns related to factors that may impact employee retention, such as dissatisfaction with compensation, lack of career development opportunities, poor leadership, or work-life balance issues.
3. Identify engagement levels:
Assess the level of employee engagement as measured in the baseline assessment. Low engagement levels may indicate a higher risk of turnover, as disengaged employees are more likely to seek other opportunities. Look for patterns in engagement levels across different segments of the employee population, such as departments, job roles, or demographic groups.
4. Analyse demographic data:
Analyse demographic data obtained from the baseline assessment to identify any patterns or trends that may impact employee retention. For example, you may identify that certain demographic groups, such as employees of a certain age, gender, or ethnicity, are more likely to leave the organisation. This can provide insights into potential retention risks related to diversity and inclusion, work-life balance, or other factors.
5. Identify areas of dissatisfaction:
Analyse data related to employee satisfaction with various aspects of their job and work environment, such as compensation, benefits, work culture, leadership, and opportunities for growth and development. Identify areas where employees express dissatisfaction or areas that score lower in satisfaction ratings, as these may indicate potential retention risks.
6. Conduct root cause analysis:
Once you have identified patterns or trends related to retention risks, conduct a root cause analysis to identify the underlying factors contributing to those risks. For example, if turnover rates are high in a specific department, investigate further to understand the reasons behind it, such as poor leadership, lack of career development opportunities, or workload issues.
7. Seek input from stakeholders:
Involve relevant stakeholders, such as managers and employees themselves, in the analysis process. Seek their input and perspectives to gain a comprehensive understanding of retention risks and factors. They may provide valuable insights based on their experience and expertise.
8. Conducting a thorough analysis:
By conducting a thorough analysis of the data and findings obtained from the baseline assessment, you can identify retention risks or factors that may contribute to employee turnover. This information can then inform the development of targeted strategies and initiatives to address those risks and improve employee retention in your organisation.
Step 3: Understand goals & metrics
When developing an employee retention strategy, it’s important to establish clear goals and metrics to measure
the effectiveness of the strategy.
Here are some examples of goals and metrics that can be used to evaluate the outcomes of an employee retention strategy:
When developing an employee retention strategy, it’s important to establish clear goals and metrics to measure
the effectiveness of the strategy.
Here are some examples of goals and metrics that can be used to evaluate the outcomes of an employee retention strategy:
Goal
Metrics
Reduce overall employee turnover rate
Calculate the percentage of employees who voluntarily leave the organisation within
a specified period (annually or quarterly, for example) to measure the turnover rate.
Set a target percentage for reduction based on industry benchmarks or organisational goals.
Increase employee engagement levels
Conduct regular employee engagement surveys or use other relevant measures
to assess the level of employee engagement. Set a target increase in engagement scores or percentage of engaged employees over time.
Improve satisfaction with compensation and benefits
Administer surveys or conduct focus groups to measure employee satisfaction
with compensation and benefits. Set a target increase in satisfaction scores
or percentage of employees satisfied with their compensation and benefits.
Enhance career development opportunities
Track the number of employees who participate in training and development programs, the percentage of employees who receive promotions or transfers internally,
and employee feedback on career development opportunities. Set a target increase
in participation rates, promotion/transfer rates, or positive feedback scores.
Strengthen leadership effectiveness
Use 360-degree feedback or other assessment tools to measure leadership effectiveness. Set a target improvement in leadership scores or percentage
of employees who rate their leaders positively.
Improve work-life balance
Collect data on employee workload, work hours, and work-life balance perceptions through surveys or other means. Set a target improvement in work-life balance scores or percentage of employees who feel they have a good work-life balance.
Enhance diversity
and inclusion
Track diversity metrics such as representation of underrepresented groups in the workforce, diversity in leadership positions, and employee feedback on inclusion. Set
a target increase in diversity metrics or positive feedback scores related to inclusion.
Increase employee retention in critical roles or departments
Identify critical roles or departments with high turnover rates or retention risks, and track turnover rates or retention rates specifically for those roles or departments. Set
a target reduction in turnover rates or improvement in retention rates for those roles or departments.
Step 4: Create your retention strategy
An employee retention strategy typically includes several key headings or sections that give structure and clarity to the document. The specific headings may vary depending on the organisation and the nature of the retention strategy.
1. Introduction:
Provide an overview of the employee retention strategy, including the purpose, objectives, and importance of retaining employees within the organisation. Explain the context and background for developing the strategy, and outline the key elements that will be covered.
2. Baseline assessment:
Describe the process and findings of the baseline assessment of the employee population, including turnover rates, engagement levels, retention risks, and other relevant data. Summarise the key insights and findings from the assessment, which will inform the development of the retention strategy.
3. Retention objectives:
Clearly articulate the specific objectives and outcomes the retention strategy aims to achieve. These could include reducing turnover, increasing employee engagement, improving leadership effectiveness, enhancing career development opportunities, and other relevant goals. Ensure that the objectives are SMART.
4. Retention initiatives:
Detail the specific retention initiatives that will be implemented as part of the strategy. Provide a comprehensive overview of each initiative, including the rationale, goals, strategies, and tactics. Describe how each initiative aligns with the organisation's overall goals, values, and culture, and explain how it will address the retention drivers and barriers identified in the baseline assessment.
5. Action plan:
Provide a detailed action plan that outlines the specific steps, responsibilities, timelines, and resources needed to implement the retention initiatives. Assign roles and responsibilities to appropriate stakeholders, establish timelines for each initiative, and allocate necessary resources, including budget, technology, and personnel, to ensure successful implementation.
6. Monitoring and evaluation:
Describe the process and metrics for monitoring and evaluating the effectiveness of the retention initiatives. Identify the key indicators and measures that will be used to track progress and success, and outline the frequency and methods of monitoring and evaluation. Describe how the results of the monitoring and evaluation process will be used to inform future iterations of the retention strategy.
7. Communication and engagement:
Outline the communication plan for the retention strategy, including how the strategy and initiatives will be communicated to employees, managers, and other stakeholders. Describe how feedback, input, and engagement from employees will be sought and incorporated into the strategy, and emphasise the importance of ongoing communication and engagement throughout the implementation process.
8. Conclusion:
Summarise the key points covered in the employee retention strategy, restate the objectives and outcomes, and highlight the expected benefits and impacts of the strategy. Emphasise the organisation's commitment to retaining and engaging employees, and express appreciation for the collaborative efforts of all stakeholders involved in the development and implementation of the strategy.
Step 5: Execute your retention plan
Executing your employee retention strategy involves implementing the initiatives and action plans outlined
in the strategy to achieve the retention objectives.
Here are some general steps to guide the execution of an employee retention strategy:
1. Assign responsibility:
Assign roles and responsibilities to appropriate stakeholders within the organisation for the implementation of each retention initiative. This includes designating individuals or teams who will be responsible for executing specific initiatives, monitoring progress, and reporting results.
2. Develop action plans:
Develop detailed action plans for each retention initiative, outlining the specific steps, timelines, and resources needed for successful implementation. These action plans should align with the strategies and tactics identified in the employee retention strategy, and should be communicated to all relevant stakeholders.
3. Allocate resources:
Ensure that the necessary resources, including budget, technology, and personnel, are allocated to support the execution of the retention initiatives. This may involve securing funding, allocating staff time, and providing necessary tools, technology, and infrastructure to enable effective implementation.
4. Implement retention initiatives:
Execute the retention initiatives according to the action plans, adhering to the timelines, strategies, and tactics outlined in the employee retention strategy. Monitor progress and make adjustments as needed, and communicate regularly with stakeholders to keep them informed about the progress and results of the initiatives.
Step 6: Track your progress and look for improvements
Employee retention will never be ticked off your to-do list – it’s an ongoing initiative that will require
continuous optimisation.
To ensure your strategy evolves, it’s important to track progress and looking for improvements:
1. Implement monitoring and reporting systems:
Implement monitoring and reporting systems
to regularly collect and track data on the identified metrics. This may involve using surveys, employee feedback mechanisms, HR analytics tools, HRIS systems, or other data collection methods
to gather relevant data. Ensure that the data collection process is consistent, reliable,
and aligned with the defined metrics.
2. Analyse and evaluate progress:
Analyse and evaluate the results of the tracked metrics against the established targets and goals. Compare the current measurements with the baseline measurements to determine the progress and impact of the retention initiatives. Identify trends, patterns, and areas for improvement, and use the data to inform decision-making
and future retention strategies.
3. Communicate Results:
Communicate the results of the tracked metrics to relevant stakeholders, including senior management, HR team, and other relevant departments. Provide regular updates on the progress and impact of the retention initiatives, and share insights and recommendations
for further action.Communicate Results: Communicate the results of the tracked metrics
to relevant stakeholders, including senior management, HR team, and other relevant departments. Provide regular updates on the progress and impact of the retention initiatives, and share insights and recommendations for further action.
4. Adjust and Improve:
Continuously review and adjust your retention initiatives based on the tracked metrics and feedback from stakeholders. Use the data and insights gained to refine and optimise your employee retention strategy, and make improvements as needed to achieve the desired outcomes.
It’s an ongoing process that will evolve over time and there are no quick wins when it comes to your employee retention strategy, but you’ll be set-up for success if you:
- Use organisational insights to inform your objectives and key initiatives
- Understand what your goals and key outcomes are
- Clearly define what your strategy is and why
- Have a plan-of-attack for your execution
- Bring everyone on the journey and encourage regular communication
- Focus on monitoring and continuous improvement
High employee turnover can significantly impact a company's performance and customer satisfaction. Employee surveys can identify factors contributing to high turnover rates, such as inadequate compensation, lack of opportunities for growth, or a poor work environment.
By addressing these factors, organisations can reduce turnover rates and retain top talent. As long as your organisation makes a clear effort to address the feedback received, employee surveys can strengthen communication and trust between employees and their employers. By seeking their employees' feedback and responding to their concerns, businesses can enhance their employees' sense of value and investment in the company – which, in turn, can improve loyalty and retention.
And, to support all that, you need to understand what your employees really think about your organisation. That’s where employee surveys from WorkBuzz come in. They can provide valuable insights into how your people perceive their work environment, job satisfaction, and opportunities for growth, and help identify problem areas and address them in a timely manner.
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