Improving Staff Retention, Keeping Everyone Happy

Improving Staff Retention, Keeping Everyone HappyImproving Staff Retention, Keeping Everyone HappyThe job market for skilled professionals continues to improve, with low unemployment rates and jobs added every month. But with the bullish outlook for accounting and finance professionals comes increased competition for hiring managers and an added emphasis on improving staff retention.In the finance and accounting field, theres a particular demand for skilled talent, so when top performers leave, employers and hiring managers can find themselves facing the tough task of recruiting replacements.Thats why improving staff retention is more important than ever these days. Here are some tips to help you keep the talented members of your team on motherboard - and happy, too1. Promote time away from workWhen workers in an Accountemps survey were asked what perk theyd put at the top of their wish lists, their top two choices pointed at a desire for better work-life balance 17 percent cited a desire for schedule flexibility, and 35 percent said theyd like more time off.Vacations allow workers time to relax and recharge, and they often return to the office with renewed enthusiasm for their jobs. Flexible hours can help workers better balance their jobs with their family, friends and other personal obligations, which can boost workplace morale.It turns out that many employees often dont take off all the time theyre given, saying theyre too busy, according to a study by time-tracking company TSheets. Still, more than 60 percent of the respondents said theyd turn down a job offer without PTO, and one in three workers said theyd be happier if they had more more time off.Employers and managers, you can set an example by protecting your downtime and encouraging your staff to follow your lead.2. Help them define their career pathsAnother tip for improving staff retention? Your top employees are always looking to take the next step in their career, and you can work to make sure t hey do. Sixty-three percent of CFOs in an Accountemps survey said they promote top employees to keep them from jumping ship. If you want to retain your best employees, you have to provide your employees a clear career path and communicate that path to them. Better yet, work with them to define their long-term objectives, and provide them with challenging assignments and skill-building opportunities that will help them reach their goals.3. Offer competitive compensationIf your top performers think they can get a better salary somewhere else, theyll probably departure looking around for a new job. Thats why its a good idea to periodically evaluate your compensation package to ensure its in line with other firms in your industry and region. If at all possible, try to pay a little bit more than the average In the previously mentioned Accountemps survey, 52 percent of CFOs said they are raising salaries to keep their best employees on board.You can find your best salary references with t he 2018 Robert Half Salary Guide, which provides salary data for more than 190 positions and customized wage ranges for more than 135 U.S. cities.4. Appreciate your employeesWhen it comes to happiness, whats even more important than compensation is praise. According to Robert Half research, accounting and finance professionals report the lowest levels of work-life balance, but their biggest driver of happiness is feeling appreciated for their work. Managers who show sincerity, specificity and timeliness with their expressions of gratitude are more likely to keep their employees from leaving their jobs.If your company is growing, taking on new clients and projects, you have a lot to celebrate. Make sure you are constantly improving your employee appreciation efforts. When your team hits a major milestone, consider scheduling a lunch or another get-together outside the office, or provide your staff with an afternoon off. Alternately, applaud a major success with spot cash bonuses, mov ie tickets or gift cards to the local coffeehouse. But dont forget that a heartfelt thank-you musiknote is sometimes the most meaningful recognition you can provide.Read the report, ITS TIME WE ALL WORK HAPPY., and access free resources, including a quiz, infographic, testimonials and videos.SEE WHAT IT MEANS TO WORK HAPPY5. Provide development opportunitiesOf course, providing company-subsidized training to your top performers can help them develop or refine their skills, which in turn can help increase productivity and innovation in the workplace. But it can help you with improving staff retention. Why? Firms that pay for professional development show they care about their workers career paths, which can make them more loyal.6. Enlist the help of a trusted adviserKeep in mind that an increasing number of skilled professionals are working on a temporary basis, and bringing in interim help could give your team a much-needed break - or a boost that shows you care about your staffs h appiness.Sourcing temporary accounting professionals through a staffing firm can save you time and hassle. The staffing firm will evaluate each candidates work history, meet the person for a face-to-face interview, conduct skills evaluations and perform select reference checks. The agency also will handle the administrative details of hiring a temporary worker, such as verifying the professionals employment eligibility and processing payroll.