How Investing in Managers Helps You Retain EmployeesNatalia Persin
Employee retention is a topic on the minds of many employers around the world, especially since the recent pandemic. With several employees choosing to leave companies for other opportunities, many find themselves with a shortage of staff.
Managers play a key role in not only the day-to-day operations of a business but also in how employees feel about their jobs. This is mostly due to the relationship between the other employees and the management themselves.
Wondering how investing in managers can help you retain employees? Keep reading to find out.
What is Employee Retention?
Employee retention is anything that is done to keep the employees working for your company. In most cases, the concept revolves around the benefits that they have and the overall feel of the culture.
Most people take on jobs out of the necessity of needing to pay bills and providing for their families. Because of this, they are typically looking for more opportunities within the workplace to not only contribute but to raise their bottom line.
Companies that do a great job of retaining employees usually provide more than just the standard benefits and compensation packages. Retaining employees is not an easy task, however, with the right incentives, they may end up staying for the long haul.
Why is Employee Retention Important?
Keeping employees on staff is not only a challenging task at times but a completely necessary one. This is because it can reflect poorly on the company if you have a large turnover rate in a short period.
The constant turnover can indicate to potential customers and employees that there is an internal problem that needs to be addressed. When this is the belief, the business may have a hard time bringing in new customers and talent.
Another reason employee retention is important is because of the cost of training new employees often. Training takes time away from other, more productive tasks that earn the company revenue.
Overall, keeping employees motivated can go a long way to ensuring that they stick around for many years to come. This can often be done through managers who work to provide a positive work environment and who show a genuine interest in their employees.
What Role Does a Manager Play in Employee Retention?
Various managers in companies are valuable resources when it comes to employee retention since they are the ones on the front line with employees. In most cases, a good manager will be able to determine whether or not an employee is unhappy with their job.
Because of this, managers should play a vital role in the retention of employees since they are the ones working with them most of the time. In most cases, the role of the manager is not just to lead, but to also coach and counsel employees through the difficult parts of their job.
If a manager is doing their job correctly, then they are the ones that employees will turn to in times of need. Managers who are more receptive to this are likely to keep an employee from leaving the company.
At the end of the day, since managers are the ones in the trenches with employees, they should be empowered to do what it takes to keep the morale high. If they had the qualifications to be put in a managerial position, they should be trusted to keep the turnover rate low.
Ways Investing in Managers Helps You Retain Employees
When you think about the role of the manager within an organization, you should keep in mind that their position is partially about employee relations. It involves not only leading them to success but also counseling and coaching them as needed.
Curious about ways investing in your managers will help you retain other employees? Read on to learn more.
Managers Provide Coaching
Great managers do not only lead their employees but also coach employees to be better in what they do. In most cases, this means that they do not lead from a distance but rather sit on the front lines with their employees ready to jump in to help when needed.
If managers are trained properly, they can use their skills to create a rapport with their employees that is conducive to their learning and growth. When this is the case, employees are more likely to feel supported in their roles and will feel better about staying with the company.
Managers are the Cheerleaders
Another benefit that results from investing in your managers to retain employees is that they can be the best cheerleaders for others. This means that when morale seems to be slipping, a great manager will find various ways to keep employees motivated by providing a positive work environment.
If you take the time to invest in the development of your managers, then they are more likely to feel more confident in their abilities. Additionally, they will feel empowered and motivated to work with employees to keep their morale high even when times are tough.
Managers Provide Structure
When you take the time to invest in your managers, they will be better equipped to handle various situations that come up. This means that they will also likely put structure in place to eliminate any questions about how to do the work.
Most employees will tell you that they function much better when they have more structure to their work day. As a result, when a manager provides the structure they need, employees will stay in their position more often than not.
Employees who feel they have a purpose and a specific way to do things will often be more productive in their positions. Investing in managers and providing them with the necessary tools to make this happen is a great benefit.
Managers Discipline When Necessary
Most people know that there are issues that arise in most companies since everyone can’t agree on everything. Because of this, you need managers who can deliver discipline when needed to take care of issues before they get worse.
Since employees do much better with structure, it only makes sense that they will also do better knowing there are consequences to specific behaviors. Managers who are trained well can deliver this discipline typically without causing a bigger rift within the organization.
In addition, employee morale can be affected significantly if there is any indication that someone is getting away with certain things. This is why investing in your managers to teach them the proper ways to discipline employees is a great use of your time.
Managers are Mediators
In some cases, there is a need for someone to step in and mediate certain situations especially when they begin to affect the morale of the workplace. Employees often feel better when someone that they know is in the trenches with them and can step in and be this person.
Keeping the situation from exploding into something more intense is the goal of mediation in the long run. Taking the time to invest in your managers to teach them how to mediate will be an effective way to develop skills that keep morale high.
Additionally, teaching managers the skills it takes to effectively mediate situations with employees can help with employee retention. As situations are resolved quickly and without a lot of drama, employees will often feel better about staying with the company.
Best Methods to Invest in Managers to Help With Employee Retention
With so many benefits to investing in managers to help with employee retention, the only question left is what methods should you use to accomplish this. One thing that most experts agree on is that taking the time to help managers develop their skills is a surefire way to keep employees motivated.
Use a Staffing Agency to Help You Find Great Managers
The first step to investing in managers to help you retain employees is to find leaders who are great at their jobs. These managers will need to have many of the skills to lead employees effectively whether through good times or not-so-great times.
One way to find great managers is to go through a staffing agency to look for candidates who match your needs. Staffing agencies are experienced in finding just the right person to fill the managerial position you are looking for.
Provide Professional Development for Managers
One mistake that is made within companies when they hire an experienced manager is that they fail to continue to provide professional development for them. This means that as the company grows, the manager typically stays stagnant.
Instead of allowing this to happen, you should consistently invest in providing professional development for your managers. This will help them hone their skills and help them learn new skills along the way.
Additionally, providing professional development will allow them to build their confidence in leading a team of employees who will stay.
Ensure They Are Paid Well
Business owners need to be cognizant of many things when it comes to bringing on new management. If they want to grow their business and move forward in the right direction, they will need to dig deep and pay managers well.
This often means that they may need to throw out the former way of doing things so they can attract leaders who are good at what they do. When managers are paid what they are worth, they are more likely to work to ensure employees stay on with the company for years to come.
Empower Managers to Make Decisions Without Micromanaging
When you put a manager in a position of authority you also have to be willing to take a step back and let them do their job. This means that micromanaging them is only going to make them feel that they are incompetent and send a message to their subordinates that they are not trusted to do their job.
The best way to invest in your managers to help you retain employees is to empower them to make decisions without micromanaging them. When you allow them to do this, you send the message that they are the ones employees should listen to and turn to in the midst of an issue.
Create a Path for Them to Grow Within the Organization
Not only is it important to ensure that you are investing in your managers by training them and empowering them, but you should also let them know that this position is not the end. By creating a path for them to grow they will likely be more willing to stay for the long haul.
When people know that they have a path to grow within the organization, they will work hard to ensure that other employees stay in their positions. By providing a growth path for managers, employees are able to see that they too may be able to grow within the organization.
Why it is Important to Rethink Employee Retention Methods
While keeping certain traditions within your organization is important, it is also vital that you rethink the way you attempt to retain employees. The reason for this is that with so many changes within the work landscape, the old ways of doing things are not as effective.
Employees are leaving their jobs in high numbers because they know that there are many other opportunities out there that will allow them to hone their skills. In addition, many people are also leaving to have more flexibility in their work-life balance.
Because of these factors, it is important that you take the time to rethink the methods you use to retain employees by investing more in your managers. Getting your managers involved in building relationships with employees can go a long way to helping them stay longer.
Are You Investing in Your Managers to Help With Employee Retention?
Now that you know the importance of investing in your managers to help you retain your employees, you can go about implementing them in your organization. When bringing on new managers to help, you should always look for them to have a certain skill set that will help with the situation.