A great company consists of great people. It is no news that the people inside your organization play a huge role in driving the company to grow and achieve full potential or success.
But what if one day, the “great people” in your company leave you for another job? Well, this is something that we cannot literally avoid, but at least there is something that we can do to prevent this from happening.
According to Wikipedia, employee retention refers to the ability of an organization to retain its employees. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). However, many consider employee retention as relating to the efforts by which employers attempt to retain the employees in their workforce. In this sense, retention becomes the strategies rather than the outcome.
Then, how do we build employee retention?
As a headhunter, there are times when I find it challenging to hijack employees that are working in startup companies, not only the unicorn ones. Their employees tend not to be open with other job opportunities, saying they feel comfortable with where they are.
What makes them feel this way?
In order to get the answer, I did some research into those companies. Then I highlighted something that they all have in common.
A culture of the company is similar to the DNA in the body. It shapes how the company runs its daily business. It includes a variety of elements, including work environment, company mission, values, ethics, expectations, and goals. Most of them (startup companies) have a similar culture. SIMILAR but not THE SAME. Because like mentioned above, company culture is similar to DNA in the body. One can never have the same DNA.
If I take startup companies as an example, we all know that most of them provide a fun working space. No cubicle. Everyone can talk easily without any barrier. Sometimes, even the managers and staff sit in the same tables. This produces a nice working environment for someone who does not like the barrier between themselves and their supervisors. This environment allows them to speak up more freely, compared to the well-established company, where the office workspaces mostly are cubicles and the boss sits in his/her room.
I am not saying that the best working environment is the one who provides a fun working space. It goes back again to how fit is the employee with the company’s culture that they are in. If they feel more fitting in an environment where they can speak more freely with their bosses, then this kind of working environment would make them feel good and create a small chance for them taking another job opportunity from another company, which possibly will not be able to provide them with this kind of working environment.