Personnel costs are a considerable portion of any company’s budget, and high churn rates make that percentage skyrocket. Companies looking to reduce costs by improving employee retention need to take a proactive approach. Waiting until the exit interview to investigate why an employee decided to move on means the business missed out on the golden opportunity of identifying the obstacles and challenges its employees face.
Employees are the lifeblood of an organization, which is why having a strong team is critical. But we all know the battle to attract top talent can be ruthless. It’s easy for businesses to be ensnared in the vicious cycle of investing valuable resources in training and developing an employee only to lose them to a competitor. When this happens, it leaves administrators in the organization ripe with confusion and asking the question of, “why?” After all, they seemed content and satisfied in their position.
With low retention, looking at just the surface-level problems will guide you to the wrong answer and ultimately the wrong solution. In today’s competitive market, wasting precious time and resources can be a business’s undoing. However, approaching employee retention doesn’t have to be a huge undertaking. Often, a few key changes can yield significant results. A common cause for employees to leave is communication problems. We’ll look at how improved communications helps keep employees satisfied and productive.
Access to Information
Older business communication systems can make finding the right information difficult and frustrating. Not having the proper data can lead employees to make bad decisions, which reflects poorly on their job performance. Implementing a unified communication system (UC) offers a variety of communication methods. Employees can spend less time searching for information and answers by instantly connecting with company experts. As a result, employees can produce more while feeling confident in their performance.
Building relationships between colleagues, managers, and departments is a crucial ingredient in employee engagement, and therefore retention. Effective communication at all levels improves relationships while ensuring everyone is on the same page.
Older communication systems hinder communications by placing a wall, made of their limited abilities and features, between employees. Unclear communication can lead to expectations not being met, and relationships go sour. All of this can result in unmotivated employees. Transparent communication systems like VoIP, use a variety of features like bandwidth utilization, video conferencing, and 3-way calling to stay connected. Creating a genuine sense of camaraderie helps build a stronger connection with the company, which improve employee retention.
Boost Innovation and Creativity
Internal communication drives collaborative efforts and creativity. Communication and information need to be fluid, flowing openly through an organization. This type of environment inspires joint efforts and promotes knowledge sharing. With older communication systems employees lose access to skills and resources that could help them do their job better and stunt business opportunities. Businesses utilizing newer systems can tap into an enormous creative pool by encouraging employees to submit useful ideas.
Employee retention rates can tell a vivid story about the inner workings of a company. And much like a book, you won’t get the full story by looking at the cover. If you want to get to the bottom of why your talent is leaving, dig a little deeper. Something as simple as miscommunication can bring a storm of confusion rife with delays and mistakes. Upgrading communications can make an employee’s workday run smoother and can be the difference whether they stay or not.