In the skilled trades industry, retaining employees is a constant challenge. With a labor shortage and stiff competition for top talent, employers need to focus on improving employee retention strategies to ensure they keep the best workers on their team. In a dynamic work environment, with changing technologies and evolving customer demands, employee retention becomes even more critical. In this blog post, we’ll explore some practical tips to improve employee retention in a dynamic environment in the skilled trades industry.
1. Provide a Comprehensive Onboarding Process
The first few weeks of a new job experience significantly influence how an employee perceives their employer. Providing a comprehensive onboarding process can help employees feel welcome and included in your company culture. As a result, they will be more likely to stay with your organization longer.
According to a survey conducted by the Society for Human Resource Management (SHRM), employees who experienced a positive onboarding process could retain their job for three years or longer. In contrast, those who didn’t undergo a positive onboarding experience would look for a new job within six months.
2. Offer Career Development Opportunities
Career development is critical to employee retention in any industry, but it holds particular importance within the skilled trades industry. Providing training, continuing education, and opportunities for skill enhancement can help workers feel valued and invested in their growth in your company.
An investment in employee development creates a win-win situation for both the employee and the employer. The employee grows in their career, improving their marketability in the industry, while the employer benefits from the added skills and dedication of the employee.
3. Focus on Company Culture
Company culture can significantly impact employee satisfaction and retention. A positive workplace environment can motivate, energize, and uplift workers. On the other hand, a toxic work environment can lead to high turnover rates.
According to a study by the Happify Employee Happiness Index, 82% of employees who were satisfied with their company’s culture reported feeling happy at work. In contrast, only 50% of those who were dissatisfied reported feeling happy.
To create a positive work environment, consider developing and implementing a company culture statement that aligns with your organization’s vision, mission, and values. Encourage teamwork, celebrate successes, and foster open communication between management and employees.
4. Offer Competitive Pay and Benefits
Offering competitive wages and benefits is crucial to retaining the best workers in the skilled trades industry. According to a survey conducted by Glassdoor, 67% of job seekers stated that salary and compensation are the most important factors when looking for a job.
When considering employee pay, it’s essential to keep up with market trends and average wages within your industry. Additionally, offering flexible benefits such as health insurance, retirement plans, and vacation time can make your company more attractive.
5. Celebrate Employee Achievements
Recognizing and celebrating employee achievements is a simple yet effective way to make employees feel valued and invested in your company’s success. Whether it’s through employee awards, social media shoutouts, or a one-on-one congratulations for a job well done, demonstrating appreciation can improve overall morale and productivity.
According to a survey by Globoforce, 89% of workers stated that recognition at work made them happier, which can lead to higher retention rates. Additionally, recognizing individual achievements can create a sense of friendly competition within the workplace, pushing all employees to reach their full potential.
Bottom Line
Retaining talented employees is essential for any organization’s success, but it’s especially critical within the skilled trades industry’s dynamic environment. A comprehensive onboarding process, career development opportunities, a positive company culture, competitive pay and benefits, and celebrating employee achievements are all practical ways to improve employee retention. By investing in retaining employees, you invest in your company’s future success.
