How to Retain Employees, Part II
Turnover is a financial strain for any employer, preventing it is essential to a healthy bottom line. Luckily there are MANY ways to keep your employees happy and engaged.
Opportunity for Growth
Not many people stick around in a dead-end job and the younger your workforce, the more accurate this is. Employees see career advancement, promotions, and increased pay as an excellent growth opportunity. Even in a period of hardship for a company, small promotions and movement within the company will still help retain employees – but don’t forget to communicate them to your staff! Training and skill development are also good opportunities, however, if they are the only avenues for growth they often are not seen as good enough in an employee’s eyes.
Direction and input from a boss are necessary to make sure that an employee knows his/her expectations and goals. But, an employee needs to be given a choice as to how they accomplish their work, forcing a way of doing things onto them will only result in frustration. Employees will always put forth their best work when they have ownership of it and are empowered to work how they can be most productive. Empowering them to make decisions also helps them feel a part of something bigger than just the day-to-day tasks that can bog an employee down.
We all have a life outside of the office that is important to us. As an employer, the easier you make it for employees to find a happy work/life balance, the better of your company will be. Unexpected and stressful things (a child getting sick, the car won’t start) will come up. Be understanding of these events and your employees will be grateful. Let them know you will work with them as issues come up and are as flexible as possible.
If you talk about how to keep an employee happy, benefits need to be part of the conversation. Benefits can include salary, bonuses, insurance options, flex time, childcare, retirement planning, paid time off, work-from-home options, flexible schedules and more. With all these options you can easily find something that makes sense for your company and its financial position. Not only will they help retain your current employees, they will be invaluable in recruiting new ones when necessary!
Please stay posted for part 3 of How to Retain Employees.