If your company is suffering from employee retention issues, you are suffering much more than you probably even know.
Employee turnover affects every company in every industry. It is just a matter of how harshly you are hurt by it that matters, because there is no stopping employee turnover completely – it is all human nature.
That said, here are a few tips to help encourage employee retention:
Culture: Because employee turnover is such an element of human nature, the right culture within your workplace can help people feel that they are a part of a productive team and can help nurture an enriching work environment, which will encourage employees to feel comfortable.
The Right Hire: When you are looking to bring a new member onto your team you may want to look for somebody that wants to grow with your company, and not just use it as a learning experience before moving on.
Pay: This one may be obvious, but also one of the most difficult to implement, depending on your company’s status. Competitive salaries will often help make it easier for employees to stay with you. However, if you have built the right workplace environment, and office culture, some employees will choose to stay with you for that experience rather than taking a job that pays a little bit more.
Don’t Ignore Competence: Otherwise known as pay attention, and give complementary rewards where possible. A lot of companies spend their time working with employees who are struggling, while leaving those who do a good job neglected. Though it may not seem like a problem from management’s point of view, this kind of neglect can lead to resentment over time as hard-working employees may feel that they go unnoticed, or have no support from management.
Perks: While increasing pay may not be possible for your company, perks are a nice alternative to reward employees. Whether you are using your business’s connections with local retailers, or even getting VIP tickets to special events, small perks are the perfect way to let those hard-working employees know that you value them.