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Low Cost, High Impact Staff Retention Tools

Below are our top low cost and high impact staff retention tools. To get the most out of this guide, use it together with the video of insights from our co-founders Geoff Balmer and David Landau.

Whether you’re a small or large business, there are a few great low cost, high impact staff retention tools that you can implement into your company. From formal feedback loops to creating iniatives to recognise achievements, these tools can help to create an engaged and productive workplace.

Here's a list of our top low cost staff retention tools:

  • Get to know your staff outside of the office and keep the conversation informal. For instance, grab a quick coffee and see how your employees are feeling about their job.
  • Gain regular feedback from your staff because each person will have different ideas and suggestions that can be helpful for the progression of your business.
  • Give recognition to your employees, even a simple “hey, great job!” can make a big difference. Promoting people internally is a great motivator for employees. 
  • Be aware of people becoming burned out within your team and take action if you see someone who is stressed out or notice a change in someone's behaviour. If this is the case, encourage that person to take some time off. 
  • Utilise the skills of people in your company and let your employees shine, otherwise your employees could begin to lose interest or get bored.
  • Offering formal or informal mentor programs is a great way to encourage better team interaction and professional development. 
  • Promote a healthy work/life balance, because it will create a positive and healthy work environment. During the quieter times, encourage people to take a holiday or some time off.

SUMMARY

When you give recognition to your employees and give them a chance to grow professionally, they’re more likely to stay in your company long-term. As well as this, rewarding high performers and encouraging your team can be a good boost for employee performance. Remember, happy employees are the most productive workers!

If you'd like more hiring advice and resources, take a look at our toolkit, or the other topics below.

USEFUL RESOURCES:

Hear advice from the Richard Lloyd Directors, Geoff Balmer and David Landau

How to Structure Your First Interview
Key Interview Questions for an Interviewer to Ask
How to Get to the Truth in Interviews
Avoiding Common Hiring Mistakes