In today’s competitive job market, keeping top talent is a priority. Benefits and perks definitely can appeal to employees, but a company’s culture is truly the game-changer in retaining valuable employees. Creating a culture that prioritizes financial and emotional well-being is key. In our study of 1,200 behavioral healthcare specialists, we found four ways to help your company culture retain top talent.
Why they stay
In our recent survey of 1,200 Behavioral Health Professionals, we found that compensation is theNo. 1 most important factor in determining employee satisfaction. Financial stability helps employees feel secure. With rising costs, they need to be able to provide for their household and save for the future. Compensation also makes employees feel appreciated. If they are receiving a pay that “feels fair” they are more likely to stay motivated in their work. Motivated workers are the key to success for an organization.
According to our data, if employees feel they are being compensated fairly, they will have a higher satisfaction level, therefore they are not as likely to seek out other opportunities. Creating a culture where there is transparency, fairness, and consistency in the compensation will greatly impact its culture. A company that provides clear guidelines for salary structures, and communicates openly about compensation decisions can foster a culture of trust, fairness, and employee satisfaction.
Advancement was the second highest factor for determining employee satisfaction for most respondents, and ranked as the No. 1 reason satisfied employees would consider looking for other opportunities. A step to implement is to provide employees with an individualized growth track when onboarding them. The growth track serves two purposes: to help the employee understand the next steps to move forward for advancement, and to help leadership understand the employees goals and to assist them in getting there. Implementing a growth track helps employees feel heard and gives them clear direction on how to move forward.
Another step to take is to provide professional development opportunities. Discover the areas of growth your employees need to determine which opportunities to provide. There are numerous trainings and workshops you can host to provide development in different skills relevant to your industry.
Internal workshops are also a great way to develop and learn new skills. Leadership can share their knowledge and expertise in an area for the employees to grow in. This helps promote a culture of learning as well as builds community.
Introducing opportunities to advance is crucial for retaining talented individuals within an organization. According to our research, almost half of all behavioral health employees will seek out new opportunities if they have no movement in their current position within the first year. It’s critical to show employees that they have a future within your organization.
Building a culture on clear and open communication between leadership and employees is imperative. Employees ranked Job Responsibilities in the top 3 factors for job satisfaction as well as the top 3 reasons to look for new opportunities. Clear and open communication will assist in making their satisfaction levels higher in this area. Ambiguity of roles and in decision-making within those roles causes unneeded stress. Clearly defined responsibilities help promote teamwork, gives the employee purpose, and empowers the employee. Open communication also helps leadership align the employees’ responsibilities with their skills.
A company’s mission was also in the top 3 of why satisfied employees may consider seeking new opportunities. It was in the top 4 of overall employee satisfaction levels. According to Forbes, “If employees feel part of something larger, they will be more engaged and productive.”. A company’s mission statement provides an opportunity for employees to identify and align. Readdress your mission statement to check if employees are able to adopt it as their own and if it truly reflects the organization’s values and purpose. You may consider asking employees for feedback if you need to update it.
How to implement these factors
Get to know your employees. Build community. Make the employees feel special and seen. Keep the staff inspired and motivated through these avenues. Recognition and appreciation are powerful motivators. Employees who feel valued for their efforts and who feel a part of a community are more likely to stay committed to their positions. A culture that celebrates achievements recognizes employees, and shows them that there is a future for them within your organization will keep top talent and create a positive and uplifting work environment. For a more in-depth dive into the data on retaining top talent, take a listen to our webinar.
Retain top talent for your business
We know just how hard it is to find the right people in the behavioral healthcare industry. When dealing with sensitive and personal issues like mental health or substance abuse, not just any employee will do.
Jordan and Associates Consulting specializes in behavioral health recruiting and will be your trusted partner in hiring the right people. If you have a good team in place, we can offer coaching and training on admissions, referrals, and other critical aspects of the behavioral healthcare industry.
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