Building a stable workforce: 5 ways to boost employee satisfaction and retention
- February 2024
Research shows that the UAE in particular needs to improve employee satisfaction and retention. A concerning 62% of employees here feel disengaged with their work and would consider quitting. Listen up if you want to build a workforce that wins on all levels.
Why is employee retention important?
I’ve found that employee retention helps:
- foster a happy and positive workplace culture.
- boost team morale and motivation.
- sustain company knowledge and expertise.
- save valuable money on recruitment and training.
- enhance overall productivity and performance.
- strengthen company reputation and brand loyalty.
- encourage innovation, creativity, and collaboration.
Now let’s get into the nitty-gritty…how can companies attract and retain employees in 2024?
Offer competitive salaries and wages
We all come to the office for one thing: to earn a living. And leaders should never forget this. Fair pay really is the heartbeat of employee loyalty. Regularly conduct pay reviews for every team member based on factors like: performance, length of service, cost of living and inflation. An employee’s salary or wage should always reflect their growth in your business.
Set up a work-from-home scheme (or at least hybrid)
I think offering remote working is one of the most important employee engagement and retention strategies these days. In fact, research shows that 66% of people in the UAE favour hybrid or full-time remote work.
So the key word here: flexibility, flexibility, flexibility! Put power in your team’s hands by letting them choose their own office hours that best fit their lifestyle and preferences. If they’re a trustworthy bunch, chances are you’ll see productivity soar with the well-deserved freedom and autonomy.
Foster a fun and sociable culture
Encourage a healthy work-life balance by setting aside plenty of time for team socialising. I’m a firm believer that happier people are the hardest working employees, so do your best to make an environment that people want to be part of. The best, most motivating workplaces are inclusive, friendly, and above all, fun.
I’ve got a few extra tips for keeping the team motivated.
Reward hard workers (not just with good pay)
Genuine recognition is vital for boosting employee satisfaction and retention – and not just with financial rewards. Non-monetary incentives include things like personable gifts, freebie lunches, post-party lie-ins, wellness schemes, and unexpected holidays (to reward those extra hours) mean a lot. Even praise or a well-deserved thank you can go a long way to show your appreciation.
Invest in their future (not just the business’s)
Empowering your team as individuals with their own dreams can work wonders for boosting overall employee satisfaction and retention. The more you put into their personal development with regular training courses, up-skilling projects, creative workshops, and industry event days, the more they’ll put into your business by working hard at their usual daily responsibilities.
Remember, it’s a mutual exchange of effort and respect.
Check out another blog of mine that dives deeper into employee engagement. It goes without saying that the more wholeheartedly engaged your team are within their roles, the greater the chance that they’ll stick around.
Let me lend a hand with leadership growth
I hope my five must-do employee engagement and retention strategies strike a chord with your upcoming business goals.
If you’re looking to invest in leadership development (whether your own or your team’s) my expertise in coaching can help you tackle the main challenges in employee retention, head-on.