Three ways to retain staff that don’t involve a pay increase

Many businesses carry concern over high staff turnover. Employees leaving one company to join another will leave gaps in the work environment.

When a team member leaves, the position needs to be advertised. Then the person replacing the one exiting has to be trained. It takes a few months before they settle in.

While this process is taking place there could be others already lining up interviews for other positions at other companies.

The reality is that the cycle to find better opportunities is always ongoing.

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The process of staff leaving jobs and having regular vacancies for the same position can be extremely challenging for the business. The gap with staff leaving is not just about the admin and paper work but also the fact that it might have an impact on staff who might feel inclined to follow suit.

In fact, if you see an outgoing staff member spreading their relief of leaving your organisation to join another, this will do very little to keep your current team motivated.

You might start to notice that staff members are being less productive and spend more time job hunting. If that becomes the order of the day, then it’s time to explore ways to retain your employees.

For many people in the work environment, the biggest reason for leaving is the remuneration. Leaving one company for another is largely due to more money and benefits for the employee. This can be remedied if the salary you offer is one that is in line with the market or industry.

If you are unable to match or get the same salary offer for an outgoing staff then it would mean accepting their resignation.

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At the same time there are also those who would just take a job or a work opportunity for an escape from the current work environment. This might even result in them taking a cut in their salary in the new position, just to escape the current work situation.

However, there are ways to make a staff member want to stay other than just offering them more money.

Below are there ways to retain staff without a salary increase:

Start by becoming flexible with your work schedules. During Covid-19 companies had no choice but to adopt the work-from-home culture. This saw a whole new potential of work and productivity.

It can be noted that just as work from home was an alternative medium to perform work then, it can be one now. Instead of being hard and fast on employees working from the office, allow flexibility to work from home.

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Letting employees work from home will be beneficial as this can prevent the burn out culture that working from the office usually brings.

Try to look at other creative ways to give job perks. Depending on the kind of business you are in, look at offering discounts to staff for the products or services you offer. If it is something already implemented look at companies that will list your staff for benefits and offer them those benefits.

Look at gym memberships through the company or even wellness plans at a reduced rate. Also look at paying for studies for the staff member and if possible, their children in the form of bursaries.

These are the sort of perks that go a long way in enhancing a team member’s experience in the business.

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Improve the work culture

Have regular training sessions for your management and staff on how to improve the workplace.

An unhappy manager will make staff unhappy, resulting in them leaving. Ensure your managers are on the same page when it comes to staff retention.

It is important to groom and mentor staff and if the work culture is toxic, then the team will see more people leaving. Work on improving the work culture by implementing training programmes.

Reshuffle the team and try to have more briefing sessions to motivate and encourage staff. A healthy work culture will see fewer staff members looking for work elsewhere.

Devan Moonsamy is the CEO of ICHAF Training Institute, a South African Corporate Training Provider & National Learning Institute.

This article originally appeared on Moneyweb and was republished with permission.
Read the original article here.

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