This past April, President Biden announced executive actions to benefit long-term care workers. Among other things, the directives urge the U.S. Department of Health and Human Services (HHS) to “build on the minimum staffing standards for nursing homes and condition a portion of Medicare payments on how well a nursing home retains workers.”
It is without question that retaining employees is a crucial aspect of any business. Losing employees can not only be costly in the financial sense, but it can also impact clinical outcomes.
Employee retention management involves taking strategic action to keep employees engaged and focused, with the goal of decreasing turnover and its related cost, which has a direct correlation with the health of an organization. A focused employee retention strategy can help keep your most valuable team members around for the long haul.
Tips to Creating a Focused Employee Retention Strategy
- Foster a positive work environment: A workplace that is supportive, respectful, and inclusive can help employees feel valued and committed to their jobs. Encourage team-building activities, recognize and celebrate employee successes, and provide a safe and comfortable work environment.
- Increase employee engagement: Employees want to feel like they are part of something bigger than themselves. Engage with them and involve them in company decisions when possible. Fostering team cohesiveness, socialization, and clear messaging about your company’s mission, vision, and values are proven ways to increase engagement.
- Provide clear communication: Communication is essential for creating a positive work environment. A transparent communication strategy can build trust for employees within the organization. Provide employees with regular updates on company performance, major changes, management, and objectives. Also, create avenues for employees to express their opinions, suggestions, or concerns.
- Supply opportunities for professional development: Employees are more likely to stay with an organization if they feel that they are growing and developing professionally. Offering training programs, mentorship opportunities, and career development plans can help keep your employees engaged and motivated.
- Appreciate and reward: Recognition and rewards are powerful motivators. Appreciating employees can take many forms, from simple thank-you notes to public recognition at meetings. Also, there needs to be a consistent and fair reward system for employees who consistently add value to the organization.
- Encourage work-life balance: Employees now rate work-family balance as a key factor in their retention. To create an attractive work environment, organizations need to promote flexible work arrangements, develop opportunities for remote work options, and offer liberal paid time off. Employees who feel they have a good balance between their work and personal life are more likely to stay with a company.
- Offer competitive compensation and benefits: One of the most effective ways to retain employees is by offering competitive compensation and benefits packages. Conduct regular salary and benefits surveys to ensure that you are paying your employees fairly and offering benefits that they value.
Actions to retain employees should be a top priority for any organization in order to maintain a competitive workforce. By implementing a focused employee retention strategy that includes elements such as those listed above, you can increase your chances of retaining valuable employees and building a strong and committed team that will have a significant impact on productivity, clinical outcomes, profitability, and overall long-term success.
Helping Your Team Succeed
At Health Dimensions Group (HDG), our workforce solutions experts are ready to help you build a team capable of collaborating together to achieve key organizational goals. For more information on our services and how we can help you implement these strategies, please contact us at email@example.com or 763.537.5700.
 Society for Human Resource Management, Managing for Employee Retention toolkit, February 21, 2023.