They say that Americans are job-hopping more than ever, and in some cases this is undoubtedly true. While there’s nothing wrong with changing jobs, I feel fortunate to have found long term satisfaction at Pacesetter. Here, a culture of “growth from within” has provided great value to associates, leaders, and businesses across the board. As a result, talented associates stick around, not only due to the captivating culture, but also the advancement opportunities within the company.
Whether you’re an associate looking for growth in your field or a CEO that wants to retain and cultivate talent within your company, it’s worth knowing more about associate retention and its benefits. While I’m sure the experience is different for everybody, for me, it has meant a lot to be given the opportunity to not just thrive, but excel in my role—all without having to update my resume.
Here are a few things worth knowing about associate retention, how to attain it, and why it’s worth prioritizing.
1. Retention only happens if there is internal growth
So, you want your associates to stick around. Or, like me, you are someone who really likes their job, but also wants to continue to learn and gain new knowledge within your field. The key to retention, then, is not keeping people in the same position for year on end. It’s identifying opportunity for growth from within.
Managers should always pay attention to the strengths and weaknesses of their team members, and do what they can to recognize and reward accomplishments with new opportunities. And if you’re an associate, don’t be afraid to ask about promotions and show your interest.
2. Trust and loyalty are key ingredients
Retention won’t happen, period, if associates don’t trust management and vice versa. Loyal team members will go the extra mile, and you can trust them to do their very best and exceed expectations.
Building up trust isn’t easy, but it is critical. A lot of this comes down to a company’s values and culture. Is your business actively supportive of its associates? Do they provide benefits that make you feel valued? If the answer is yes, retention will be infinitely more likely.
3. Continuous training and education is a must
With good intentions, there must come the resources to back them up. Just because an associate is smart and passionate doesn’t mean they have the tools to step into a newer, more advanced role. That’s why internal education and training programs are so important, as well as supporting external education opportunities if an associate shows interest. Identifying strengths is step one, providing an opportunity, step two, and step three is equipping people with the knowledge and abilities they need to succeed.
In conclusion, if retention is to be truly prioritized, it means more than just encouraging associates to stick around. It means incentivizing them and providing the resources they need to advance their career and lives. This, in turn, leads to happier associates, reduces the cost of turnover, and strengthens the relationships that make your business great.