When it comes to your company's growth, employee retention pays off. By keeping your current employees as long as possible, you will always have highly experienced people on staff. It will also make its mark financially, as $11 billion is lost to employee turnover every year. Keeping your employees on staff starts with their happiness and engagement. To encourage this attitude in your company, and to increase your retention rates, follow these simple tips.
By providing constant training, seminars, and workshops, you are making an investment in your employee's careers. They will not only appreciate this effort, but will likely also show improved job performance.
Reach out to your employees for feedback and actually listen. Ask them what they expect from their full-time employee benefits program, company training, and culture. Notice what points are coming up multiple times and look into making those changes.
Offer Quality Benefits
Whether you provide group insurance or individual benefits, be sure to offer your employees a wide range of benefits. They all have different needs, so they will appreciate it if you recognize that within the full-time employee benefits program.
Foster Work-Life Balance
Remember that your employees have a life outside of work. Make sure that your company schedule, culture, and benefits are catering to that. Overworked employees are not happy employees. This is another great opportunity to communicate with your employees, asking them what else they expect.
Invest in Company Culture
Your employees should be happy at work. Encourage your entire staff to participate in crafting a company culture. This will bring your employees closer together and offer a benefit for coming to work.
The Bottom Line on Results
Improving employee retention takes time, so do not expect results immediately. As you build your employee engagement and happiness, be sure to include their honest thoughts in the process.
Employees on all levels of your organization will likely have opinions, so instruct supervisors on how to best listen to their employees. Remember to access how your retention effort is going through data collection, both quantitative and qualitative. This way, you can measure which efforts are working and where you can improve.