Employee turnover is one of the most costly and persistent challenges businesses face today, with the cost of replacing an employee ranging from 50 percent to 200 percent of their annual salary.
A toxic workplace is a primary reason for employees resigning, with nearly a third (32.4 percent) of U.S. workers reportedly quitting last year due to this issue. Employee engagement, professional and talent development, and a supportive work environment are just some of the ways to minimize this risk. These strategies can not only boost morale and productivity but could also correlate with increased retention rates. Here’s how to make them work for your business:
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Get to know your employees.
When managers understand the unique behavioral needs of their employees, they can create and engage in a standard of work that matches those needs. A simple way to see how this plays out is by creating a space where employees feel psychologically safe.
In any workplace, there will be a variety of personalities and preferred ways of working—no employee will be the same. There will be those who prefer to work alone, some who need training to be visual, and those who like to start work later, for example.
It is these differences that determine what makes employees happy in their jobs and whether they align with a specific workplace environment or prefer certain benefits over others. Business managers must understand the individuality of their employees to help retain them and ensure a good working environment.
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Recognize and reward contributions.
Job satisfaction comes in many forms, but a common way that employees will feel this is if they are regularly recognized for great work. Job appreciation goes beyond bonuses and promotions; recognizing effort and results in real time also keeps employees motivated and reinforces positive behaviors.
You can create a recognition program that highlights both team and individual achievements and make it inclusive and consistent.
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Build the best teams.
Every workplace will have employees with different personalities and traits, and some will work better with specific people.
According to a recent report, more than four out of five employees (83.4 percent) said that they value a positive work environment—ensuring people are working in the right teams is one way for businesses to maintain that positive environment.
This is where understanding your employees’ personality traits will help. For example, if you have a person who likes to take control but not focus on the details, managers should look at ensuring these people work with someone who is detail-oriented and a team player to get the best out of both employees and have a positive team atmosphere.
It is also important for employees themselves to understand their own strengths, weaknesses, and preferred ways of working, so they can identify why they might be different than someone else. Understanding this is the key to employees working well together.
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Train managers to be coaches.
It is common for employees to leave jobs because of management, so investing in leadership development could help retention by making sure leaders know how to inspire and guide in the right ways, especially considering the differing needs of each employee.
One of the most important things for a leader to do is to recognize their leadership style and stretch toward behaviors that are less comfortable to them while avoiding turning their strengths into weaknesses.
Specific assessments can help leaders and managers toward this goal, with guidance on emotional intelligence, coaching skills, and active listening.
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Create a feedback-rich culture.
Employees want to know where they stand and how they can improve; constructive feedback shows you’re invested in their development. You also need to ensure, as a manager, that you are open to hearing feedback from employees, as it needs to work both ways.
Business managers can use regular one-on-one meetings, employee surveys, and suggestion boxes to gather insights and respond quickly.
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Personalize development plans.
Each employee will have different training preferences; some might want a written approach, while others might learn best visually. Businesses should tailor development plans based on individual goals, strengths, and learning styles. Employees also must have clear objectives and plans for development, improving skills, and a path forward.
Businesses can leverage assessment tools to identify personal work preferences and align learning opportunities accordingly.
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Communicate around stress and motivation.
In 2024, 83 percent of U.S. workers experienced work-related stress, so it is crucial for business managers to identify when their employees are struggling and what actions they should take, especially if employees start to leave due to feeling too stressed.
Understanding someone’s specific personality and traits can help managers deal with this. For example, someone who prioritizes collaboration and enthusiasm might feel stressed when isolated or working in a low-energy environment. If a manager tasks this person with something that requires them to work alone, this could cause stress, so the manager would need to change the way the task needs to be done.
The above advice could be achieved by looking at personality assessments. One of these methods is called DISC, which looks at specific DISC personality types and uses them to help managers pair teams, identify stress in employees, and know how they like to work—all leading to potential improved retention.
The DISC types are Dominance, Influence, Steadiness, and Conscientious, and each has a set of traits that are used to help managers. For example, with Dominance types—who are likely to seek control over situations and become irritated easily if people or situations don’t follow their ways of working—this is what managers can do:
- Give them challenging tasks and the independence to identify solutions. Encourage them to take ownership of the solution but set the expectation that other team members may need to give input (if necessary).
- Allow them time to work alone and pull them into meetings only when necessary, with a clear agenda.
Find out more about how DISC can help with business retention, including information about what employees want as workplace benefits, via Online DISC Profile’s Website: https://onlinediscprofile.com/
