How To Improve Employee Retention
Are you starting to recognise an increase in the number of employees leaving your company each year? Do you feel like you’re losing too many talented employees?
While many companies experience issues with staff retention from time to time, high employee turnover is not something that should be ignored, as it can have a devastating effect on your business.
Apart from the timeous process of finding replacements and training them, high employee turnover can result in a lower company knowledge-base, as well as decreased performance and poor staff morale.
That’s why it’s extremely important to find ways to improve employee retention. But because we know it’s not always easy to get feedback from disgruntled employees, we came up with a few pointers to help you retain your most valued workers.
Improve Employee Retention With These Helpful Tips
Be Picky About Who You Hire
Although it’s important to find someone with the right qualifications, it’s equally important to find someone with sound morals or values. For example, someone who describes themselves as loyal and persevering, will be less likely to ‘throw in the towel’ when they’re faced with difficult challenges at work.
But be sure to do your research and ask listed references if they would agree with the way prospective employees have described themselves!
Make Sure You Offer Market-Related Salaries
Nowadays, salary information sites, such as PayScale, make it easy for employees to research market-related salaries, and find out what employees with similar skills, experience and qualifications are earning.
So don’t make the mistake of undervaluing your staff with salaries that are below average, as this will cause them to seek better opportunities elsewhere.
Recognise Employee Accomplishments
Employees are much more likely to stay with companies that make them feel appreciated and valued.
Whether you give them a gift card, or simply say ‘thank-you’ and ‘well-done’ to acknowledge their accomplishments, your employees will be glad to know that their hard work isn’t going unnoticed.
By implementing these helpful tips, you’re sure to create a happier work environment and improve employee retention. Satisfied staff equate to satisfied customers, and the more satisfied your customers are, the more successful your business will be. It really is that simple!