Employee Retention

Can you afford to lose a key employee or not have them perform to the best of their ability? Are all your employees performing at their optimum level? According to the Harvard Business Journal the cost of losing an employee can be 100-200% of their salary. Can you afford that? Most businesses can’t. We can help!

OceanView Advisory Services helps business owners reduce employee turnover. People who are disconnected with the ideals or culture of a company often leave. We work with you to improve employee buy in and enhance job satisfaction. Employee longevity and loyalty are the result of a team environment that encourages communication, independence, flexibility and growth, while rewarding exceptional performance.

The 5 Steps of Successful Employee Retention

1. Assessment
   Employee retention should be at the top of any employer’s list of priorities.  Good employees are hard to find, and great employees are even harder to replace. First of all we listen! Our initial meeting with decision makers helps us fully understand their business and culture. We then speak with employees to uncover issues, other than wages and benefits that are important to them. We learn the strengths and weaknesses of your entire team. Only after our initial assessment is complete will we offer advice on retaining the best talent in your organization. If you have lost a key employee, other employees are probably looking for other opportunities as well.
2. Planning
   We develop a detailed action plan that blends management goals and objectives with employee expectations. The “What’s in it for me” mentality is replaced by a “We’re all in this together” way of thinking. Managers become enablers rather than bosses. Employees see the big picture and understand how important their contribution is to the overall success of the company. Everyone functions as a team member and understands the value they add to the team. We help you identify and develop true leaders and top performers.
3. Implementation
   The thought of implementing an affordable employee retention plan is often overwhelming to business owners. OceanView Advisory Services provides a simple easy to follow process that ensures employees have the tools and resources to perform at expected levels and are rewarded accordingly. The plan improves the retention rate of your most valuable employees. Everyone is held accountable and understands the impact their performance has on company goals and productivity. Objectives are clearly defined by way of detailed, "who, what, when" action plans.
4. Measurement
   As the saying goes, “If we can’t measure it, we can’t control it. And if we can’t control it, we can’t manage it.” Many companies implement a retention plan but don't have the tools or resources in place to continually monitor its effectiveness. OceanView Advisory Services helps clients establish a method of continually gauging performance and measuring productivity.
5. Review
   A lack of accountability and follow-through are the main reasons most retention plans fail. We remain available to conduct periodic reviews to ensure accountability and effectiveness at all levels. This ensures follow through by all members of your organization.

OceanView Advisory Services will share in your vision and become your partner and trusted advisor.