But the formidable challenge of devising effective methods and strategies to hold on to key employees -- whether in the back of the house or the boardroom -- is often more difficult than it seems. Maybe you haven't yet given much thought to a long-term employee retention strategy. Or maybe your organization already has a retention program in place, but you're ready to take it to the next level with a few innovative new ideas.
No matter where you are with your employee retention program, your organization probably still has some room for improvement. Here are a few novel techniques that may be able to help you retain your most valuable employees. Many employers tend to focus retention efforts on their long-term employees, but the most effective programs are those that emphasize the benefits of long-term employment from the employee's first day on the job.
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Query prospective candidates about their long-term plans and ask how this job figures into them. Get a clearer handle on organizational fit by allowing current employees to interview prospective hires, and vice versa. Develop a short-term, performance-based bonus and compensation system that rewards continued employment at three months, six months, a year, and so on.
Most established hospitality industry firms are light-years away from scrappy Silicon Valley tech startups in their organizational cultures -- and that might be part of the problem.
Is it Time to Tune-Up Your Retention Strategy?
While some of their zanier strategies may not work in the hospitality industry, you can infuse your workplace with the same zestful spirit of creativity. Allow your employees a couple of hours each week to dedicate to their own work-related interests, like researching new entrees or developing new house cocktails. A sense of playful innovation in the workplace can really boost employee retention rates. Retention reward programs aren't exactly a new idea, but designing a reward program around prizes your employees pick is an innovative twist on this long-used technique.
Creative Retention Strategies: Thinking Outside the Box to Keep the Cream of the Crop
Remember, reward systems don't really work if employees don't really care about the prizes. Poll your employees to find out what they really want. Some unconventional suggestions include things like extra time off, choosing one's own shift or section, or being excused from tedious closing or opening duties for a day, a week, or a month. One of the best ways to convince your top employees to stick around is to convince them to feel invested in the business's performance.
Some hospitality industry employers take this idea literally, establishing employee ownership programs that reward longevity with profit-sharing bonuses or shares in the company.
Get Weird Innovative Ways to Make Your Company a Great Place to Work by Putzier John - AbeBooks
For even more retention-boosting impact, you can stagger the vesting of the profit-sharing program over a period of five, ten, or more years. Ships from Reno, NV. More information about this seller Contact this seller 7.
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Get Weird! 101 Innovative Ways to Make Your Company a Great Place to Work
Seller Inventory ZZ2. Trade Paperback. Condition: Like New. Description: This little book has a serious purpose: it is filled with dozens of easy, creative ways to recruit, retain, train, motivate and reward employees.