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1/18/17 at 07:32 AM 0 Comments

How to Retain Employees in Today’s World

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To run a successful business, you have to do more than hire great people, you have to give those people a reason to stay with you. Otherwise, you’re making an investment in employees that you get little return on. Some of these employees just want a year or so of experience before they move on to other jobs. Others find that your company just isn’t a good fit for them. There are a number of different techniques you can use to improve your employee retention and, at the same time, boost employee morale and productivity. Here are a few of these strategies.

Hire the Right People

Does the person you’re interviewing for a job seem excited about your company? If so, he or she may be a great fit and stay with your business for years. However, if you notice that someone has a resume full of different jobs, it could be a sign that the person likes to switch jobs fairly regularly. Those who have little or no experience may also leave after a few years. By hiring people who mesh well with your company philosophy and fit in with your team, you’ll be hiring someone who will feel comfortable staying with your company for years.

Foster the Right Atmosphere

You do need to have a positive atmosphere and culture at your company. If you don’t, it’s rare that anyone will want to stay with you long-term. This means one of the first things you need to do when you start your business is to decide on what culture you want to create. Do you want your work environment to be professional and by-the-book, or do you want to create an atmosphere that’s more casual?

There’s no right or wrong option, but each type of business culture will attract different types of people. Be sure you discuss your work environment with potential new hires and get a sense of how they would fit in there. The better the fit, the more likely it is that your new employee will stick with you.

Provide Training

Any new employee is going to know the basics of their job, but they may not know the particular methods you use or software you have installed. Take the time to provide them with training on how your office runs. New employees won’t immediately know your system because it’s most likely a little different from the way every other business works. Provide some guidance.

You also want to make sure that your employees are motivated. If they aren’t, they may soon look for other work. There are a number of different ways of motivating people. Providing rewards for a job well done and recognizing those who take initiative will give people a reason to do well. You can also get help from motivational speakers. Many speakers talk on the subject of motivation and can get your employees fired up. Even those who don’t speak directly about motivation can have a motivating effect on people.

Communicate

Communication is vital to any business, and it’s especially vital in employee retention. Employees who don’t feel like they’re being kept in the loop and provided with all of the information they need are going to want to move to a company where that’s not the case. Make certain that you communicate with your team and that they always know what you expect of them. No one should ever have to guess about what their job entails or about what they need to be working on.

Also, remember that communication goes both ways. Listen to what your employees have to say, even if it’s not something you really want to hear. If they have suggestions or complaints, don’t just dismiss them. Making these changes or addressing certain issues may be the key to improving your retention rate.

Offer Competitive Pay and Benefits

Few people are going to stay with you if you aren’t offering competitive wages and good benefits. That doesn’t mean you have to throw buckets of money at your employees, but you do need to pay them what they’re worth. Often, even a small five or ten percent salary bump is enough to get employees to leave. Do some research and learn what is considered an appropriate salary for the positions you have.

Remember that if someone leaves, you have to spend a good amount of time and resources to replace them. This includes all of the time reading resumes, interviewing candidates, and training the new employee. That’s a lot of time spent on something you could avoid by simply adding a little bit of extra money to the position’s salary and providing your employees with regular raises.

Benefits are also important. While it may seem like a few extra sick days shouldn’t matter one way or the other, they do. Listen to your employees and make sure you offer the benefits they want.

Be Flexible

Many employees today want to be able to have families and continue to pursue interests outside of work without having to fight for their free time. Flexibility in work hours and location has become a major selling point for people, especially younger employees. If you can allow new parents to work from home or provide a communal working space in the office, you may find that you retain more employees than you might otherwise.

Some employees need a little extra time in the morning. While it may not always be possible, allowing people to shift their work day, one hour, is often all it takes to relieve stress. By letting people come in an hour later and stay an hour later in the evenings, you may give your employees time to get their children off to school, provide a loved one with additional care, or handle a medical need.

Without the stress of a ticking clock, these individuals can become entirely new people. They won’t feel nearly as pressured or as frazzled, allowing them to focus more on their work when they are in the office. They will also be very thankful for your understanding and help, and that goes a long way towards giving them a reason to remain with your company.

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