6 Ways to Improve Employee Retention

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As a manager of a business, the process of hiring is extremely tiring. When you have found the perfect candidate, you need to do everything in your power to keep them on your side, which can sometimes be challenging. Fortunately, there are plenty of tried and tested methods that you can implement to improve your employee retention – keep reading below to find out how. 

Employee Development

Improving your employees’ skills goes further than the need to lead by example. Providing your employees with plenty of chance to attend training sessions, and take control of their personal development, will make them feel as though they are constantly working towards betterment. Therefore, they won’t need to look elsewhere to push themselves. Not only this, but helping your employees develop their skills can help you meet or even exceed expectations and outperform your competition – a win-win!

Feedback

A large number of people work well when they are told how they are doing, whether this is good or bad. Giving your workforce regular feedback will allow them to grow. You can take the time to tell them about progression opportunities to work towards to keep them motivated. Just don’t mislead them into thinking they are guaranteed promotion when there isn’t one there.

Communication

Ensuring everyone is up to speed and on task will require excellent communication across all levels of the business. As a manager, try and touch base with all of your staff members on a regular basis to gauge how satisfied they are with their workload. Making alterations to unsatisfied staff members could be the difference between retaining them or not. Ensure that you have many channels of communication, including meetings and electronic messaging – just make sure you are consistent.

Perks of the Trade

Work perks are a great way to keep staff on board, especially if they can compete with potential poachers. One of the biggest perks that people look for in a job is flexibility and the ability to work from home, outside the “work from home” pandemic initiative. By giving your staff some flexibility, they may be loyal to you. Other ideas include employee discounts, health and/or dental insurance and paid time off.

Work-Life Balance

You may think that your employees’ time is your time as well, but people have to live their own lives and won’t always be available at the drop of a hat. Setting clear expectations for vacation booking, swapping days, and extra leave will let your staff know where they stand. If you run a 9-5 business, you should consider rewarding those that stay late during the week to get work finished with time off on a Friday. Who doesn’t love a long weekend?

Milestone Celebrations

Everybody enjoys being celebrated – it gives us a sense of purpose and belonging. You should put a spotlight on your team’s achievements, whether they’re big or small. You can make this into a staff night and head out for a meal before throwing an awards ceremony. Even more reason for your staff to stay on board. You could even offer free tickets to a sporting event, or treat them to lunch on a Friday; there are plenty of ideas to consider.

There are countless other strategies you can implement to increase staff retention. You are bound to have staff leave at some point, and this is unavoidable, but you can make sure you do everything in your power to keep hold of your talent. When staff eventually leave your business, they will say good things about you if they felt valued and well looked after.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.