In this industry, we spend a fair amount of time considering how to keep our residents because we know the cost of attracting new ones. This just makes sense. Why spend precious time and money on developing a resource that already exists?
Unfortunately, sometimes we forget that the same holds true for our staff. Staff turnover is also costly. Not to mention that a stable, consistent staff can mean greater efficiency, higher morale and speedier follow through in the workplace. Taking time to get the next person up to speed means I’m spending less time on more forward pointing activities.
But, perhaps the biggest perk of retaining staff is the benefit to resident retention. Our industry is notorious for turnover and, while that may keep things fresh and growing from an internal perspective, our vendors and residents can find it unsettling. In a world with so much change, it means a lot when home has some stability. Think about the restaurants, shops and hangouts you frequent because you’ve developed even a slight connection with an employee. You have something in common or you know the name of their oldest child or they have your coffee order down. Now think about how you feel when they move on to a different job. Sure, you didn’t expect them to be a barista forever, but suddenly the experience just isn’t the same. This is magnified when considering the place our residents call home (and can obviously have very negative consequences if our staff is not fostering this kind of environment.) .
If you have to choose one retention strategy in 2017, make it your staff. Its an investment that will spill over into the larger retention picture.