The Twelve Rules of Retention

23 December, 2015
Charlie Hooper

The Twelve Rules of Retention

23 December, 2015
150926_Instant Impact_35

At Instant Impact, we’re passionate about helping fast growth companies recruit and retain the top graduate talent. With that in mind (and because it’s Christmas) here are twelve ways to ensure your staff are happy and invested in your company.

  1. Don’t just hire those passionate about Startups – whilst these people can be brilliant, you also want people passionate your product who will still be around once you’re out of the Startup stage.
  2. Manage expectations – don’t oversell. Give a realistic idea of progression and where a candidate can expect to be in the future.
  3. Be honest in the interview – again, don’t oversell. Every role has downsides but, as long as you’re upfront about these, they shouldn’t damage yourretention rates.
  4. Set clear expectations – this gets everyone on the same page and also shows that you're taking an active interest in your employee activity.
  5. Invest in training and development – you can’t afford not to.
  6. Be transparent – don’t keep unnecessary secrets. We used to keep our company numbers from our staff. That was a mistake.
  7. Be inclusive – this is one of the best things an SME can offer.
  8. Love your culture – connected to inclusiveness, a company culture can be a cost effective way of boosting morale and achieving a healthy retention rate.
  9. Listen – feedback is a two-way street. Part of being an effective manager is seeking it.
  10. Answer – it’s not enough just to listen, you have to show that you’ve heard what staff tell you and are acting on it.
  11. Encourage retention – we’ve started running a share option scheme that rewards employees who are in it for the long haul.
  12. Socialise – the odd social can be a great way to keep a team close. Christmas parties are practically a must, but why not have something a little more regular than that? We do something once a month to let loose a little.

We hope these are helpful, and wish you all the best in your retention game. If you’d like something more in-depth, why not get in touch or read this BusinessZone article by our very own Felix Mitchell?

Enjoy the holidays!


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