5 Proven Ways To Improve Employee Retention

For any business, the employees are the most significant contributors to success. However, finding and retaining the right talent is often a challenge for organizations across industries.

Thanks to the start-up culture, employees now have more options than ever before, when it comes to finding employment. More businesses are emerging every day, that are ready to offer more money, better benefits, and a number of other perks to attract top talent.

If you are not actively paying attention to keeping your employees happy at your organisation, it should come as no surprise if your employees decide to find another opportunity.

If you are, however, interested in making sure your best employees stick around, here are the five ways to incentivise their presence:

Pay Attention To Company Culture

A healthy, positive environment is a must-have for any individual in order to be able to bring their best work to the table.

Moreover, everyone wants to work at an office they actually want to show up to every day. As an employer, it is your responsibility to create such an environment for your employees.

To begin with, try employing flexible working conditions within your organisation. Letting employees experience a bit of freedom is the best way to promote employee satisfaction. Moreover, the creative freedom that comes with flexible working conditions usually results in a better quality of work.

Not to forget, flexible working conditions make employees feel that they are trusted, further motivating them to take complete ownership of their responsibilities.

The modern employee understands the importance of a healthy work-life balance. It is important for them that the organization they work for also understands the same. Encourage your employees to use their vacation days. If they are staying back late to wrap up an important task, make sure they don’t feel obliged to reach the office early the next morning.

Invest In Your Employees

In an employee’s career trajectory, with every promotion, comes an additional set of responsibilities. When switching jobs, organizations expect them to be trained and experienced in these skills. However, few organizations want to help them acquire said skills.

Promotions go hand-in-hand with development and education. When, as an employer, you take your employees’ education, development, and progress seriously, they feel valued. When these skills are applied to the job and translated into a promotion, the employee feels valued and a critical part of the organisation’s progress.

Whether you offer up-skill training within the organisation with the help of eLearning programs or responsive eLearning content providers, or sponsor a trip to a training centre, your employees will thank you for the opportunity to grow.

In fact, according to the Future Of Work White Paper by Consumer Technology Association recognises high-skill and soft-skill training among the top benefits to retain employees.

Open Door Policies

It is important for organisations (and business owners) to propagate a sense of belonging and a shared objective among their employees. However, doing so is next to impossible if there is a lack of free-flowing communication between you and your team members.

On the other hand, if your employees experience the freedom of simply coming up to you and sharing their concerns or ideas, they will feel like their opinion matters within the organisation.

Moreover, the benefits of an open-door policy are not limited to employee retention. It encourages clarity of communication and helps organisations avoid blunders caused by miscommunication.

Offer More Than Just Money

Sure, monetary compensations are perhaps the biggest reason for finding a job but the modern employee wants more. The interesting thing is, your competition is probably already offering more than simply a hefty salary.

The benefits offered by an employer play a critical role in keeping the employees happy and satisfied with their job. We’re not just talking healthcare coverage and paid sick leaves, but performance bonuses, stock options, and generous leave policies.

Think about it, if an employee does not have an incentive waiting for them beyond their performance target, why would they feel the need to exceed it?

Similarly, if an employee is forced to come to work because they cannot afford any unpaid leaves, will they be able to put 100% in their work?

Flexible work schedules, the freedom to work remotely, performance incentives, are all things that employees value and look for before joining an organization.

Conclusion 

Retaining employees in 2019 goes beyond offering monetary incentives. Businesses need to show them that they care while also helping them improve through bespoke learning content and letting them contribute to the overall development of the organization.

Did we miss out on any employee retention technique you use at your organisation? Tell us about them in the comments!