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Could one small culture change be key to better retention rates?

Posted by Rowan O'Grady, Hays Canada President, on Monday, Nov 14, 2016

Hays Blog: Could a small culture shift make your people happier?Employee retention is not a new challenge, but the reasons people are leaving is changing. It’s no longer just about better pay or benefits but how happy an employee is in their workplace. Depending on their seniority level 30-40% of employees will not sacrifice their ideal fit for an opportunity with more money or incentives and 25-30% are unsure. This means that over half of the workforce has the potential to stay loyal to your organization if you put in the effort to ensure they are happy in their current role. One of the main adjustments can be made by adjusting your company culture.

Company culture is essentially your organization’s personality. It includes a variety of elements which not only includes the company mission and values but also workplace environment. Company culture should encompass the organization and its employees which is why it is important to consider how happy your employees are in their roles.

Is your staff happy? Ask them.
By identifying the problem and taking steps to address it you will be able to inhibit your retention risks. Take your employee responses and analyze how they are incorporated into your company culture and don’t be afraid to make changes where needed.

Change is a difficult task, but can have significant rewards and benefits. The relationship between employee and company should be nurtured which will not only result in an increase in employee happiness but also build a trust between employee and employer.

Make sure to review all problems, and where you can't make changes now, acknowledge that and communicate what your plan is for the longer term. 

Talk to Rowan O'Grady, Hays Canada President, on the Canadian labour market.

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