Attracting top quality talent is at the top of every employers list. And, retaining them, which is as equally important, translates to the bottom line. The following tips below will help increase the satisfaction of your employees with their job, and as a result lower recruiting costs and make your company more productive.
1.Creative a Positive Work Environment
Fostering a positive work environment contributes to employee’s creativity, productivity and happiness significantly decreasing stress. Kicking off the team meeting with kudos shows gratitude and appreciation for employees’ contribution to organizational success.
2.Recognition and Rewards
Non-monetary rewards are a very effective way to reinforce organizational value. The rewards may be low cost but drive high impact for the total compensation package. A few examples include day off with pay, tickets to entertainment or sporting events, leave work early, give donation to employee’s favorite charity, or even offer a paid lunch. Either way, employees love to be rewarded!
When employees can respect and trust the leadership team, they feel secure. Leaders who are accessible; can communicate well; give honest reports; and listen to employees are key to job satisfaction.
4.Ensure the Success of New Hires Onboarding
The key to retaining great employees is making sure they get off on the right foot. After you have made an offer and a new hire starts, you don’t want to give them any reason to believe they have made a mistake by accepting the position. Ensuring a smooth transition period when a new employee begins to work for your business is the best way to establish a strong relationship, good habits, and healthy work expectations.
5.Flexibility and Work-life Balance
Sometimes the best way to retain great employees is to be a little flexible. If you expect staff to regularly work long hours and be on call off the clock, you’ll likely run into employee retention problems. Burnout happens, and stressed employees will seek greener pastures. You need a healthy work-life balance to maintain a happy workforce. Encourage staff to take vacation time or allow flexible start and end times. Many companies also offer telecommuting as a way to improve the work-life balance for their employees.