Job hopping is a way of life now, and employee retention is a major challenge most businesses face. However, analysis reveals that it is not always better prospects that make an employee quit. Sometimes, the management or lack thereof can be the reason.
But you can your employees stick around with these 7 secrets to building a close-knit corporate team.
1. Effective communication channels
According to studies, the most common complaint of disgruntled employees is that the company does not acknowledge their hard work. Employees feel short-changed when the management neither respects their efforts nor addresses their problems. An open-door policy and effective communication channels can make employees feel special and reduce turnover.
2. Lightening the work atmosphere
A professional work environment does not have to come at the cost of sacrificing fun. A good boss shows the staff how business and pleasure can be balanced to optimize productivity. Be it simple things like livening up the desk with personal memorabilia and playing Secret Santa even outside the Yuletide season or bigger things like organizing stand-up comedy shows and inter-staff sports tournaments; every step goes a long way towards ensuring employee bonding.
3. Charity begins in companies
Coming together for philanthropic causes is a great way to build team spirit. Research shows that nothing motivates like answering a higher calling. Odyssey Teams Inc. is a motivational team building and leadership training company, which has developed a training course focused on philanthropy. Groups from various companies have participated in Odyssey training sessions, which the company claims have given away more than 10,000 bikes to at-risk children, and to have constructed 1,000 prosthetic hands for donation to amputees in developing countries.
4. Neither micromanagement nor lack of management
Some leaders believe in having a say in every aspect of their employees’ professional lives. Such micromanagement leads to a stressful work environment and high staff turnover. After all, no one wants an interfering and domineering boss. On the other hand, some new-age entrepreneurs are trying to eliminate leaders and managers completely from the corporate hierarchy. This move can be equally disastrous. Without a leader, employees struggle with a lack of direction. Finding the correct balance between micromanagement and a complete absence of leadership is a tightrope walk that entrepreneurs have to master to build a loyal workforce.
5. Independence to explore
As an extension of the above point, giving employees creative freedom within the framework of the project is a great idea to bring out the best in them. While some workers may flounder and not want to disturb the status quo, others will take to this autonomy like a duck to water. Giving these workers an opportunity to don their thinking hats is an amazing way to highlight latent talent.
6. Rewards are the best motivators
Penalty for wrongdoing is often enforced quickly in most companies but the reflexes are not as quick when it comes to recognizing employee contribution. Research shows that rewards motivate better than punishment. Having a transparent and unbiased reward system in place is a great morale booster.
7. Motivational seminars and webinars
Nothing motivates like the inspirational words of a life coach. Organizing short seminars or webinars during working hours (no one wants to give up their leisure time to listen to a speech, no matter how motivational) inculcates team spirit and a sense of bonding.
In these virtual working times, the above-mentioned steps can be easily adapted to suit online needs with a few digital modifications—frequent one-on-one online meetings with employees to give and take feedback; stand-up shows on online cloud platforms, virtual gaming contests. The crux of the team-building exercises is to create and retain a close-knit corporate family.