6 Ways to Improve Employee Retention

6 Ways to Improve Employee RetentionThe economy is slowly starting to recover, which means employers who have been ignoring efforts at company retention because their employees have nowhere else to go should start worrying.

Employee retention is always important to a business. Turnover is costly, and some businesses build a reputation as a horrible place to work, which means employees start to leave in droves as soon as they can.

If you are struggling or worried about retention, here are some tips to consider.

1. Attract the Right Candidates

Attracting the right candidates for the job in the first place can go a long way to improving employee retention. This means having a thorough interview process and if possible, a trial period to see if the employee really is a good fit. Companies should make it clear in the interview process what the expectations of the company are and that they are looking for someone who will be the best at the job, not just show up to work everyday .

Some other ideas companies have tried is giving priority to those who live close to the office because long commutes tend to be a reason to leave. Companies have also experimented with offering more flexible vacation packages that offers a large bank of days that the employee can use as he or she chooses. This provides the flexibility a top candidate might need if they have family or other obligations.

2. Get to Know Personalities

Not every employee will be motivated by money or power, and it can be hard for managers to understand how to motivate their employees that arenít the same as them. Try to get to know a potential employeeís personality during the interview process and learn through trial and error and short interviews what you can do to increase an employeeís satisfaction. Share information about employeesí personalities with multiple supervisors and coworkers that interact with the employee so positive feedback can be given by multiple channels.

3. Improve Group Dynamics

Instead of creating a competitive or divisive environment by giving out only one reward a quarter, award a team for its top performance. This could be an iPod for every member of the team or a nice dinner. The team environment helps motivate those who may not care about the award but donít want to let their team down. Having positive feedback as a group can also help employees feel more attached to the team and ultimately have greater loyalty to the company.

4. Keep in Touch

Small businesses face a much bigger loss when a single employee leaves because a lot of the knowledge that employee had hasnít been formalized, and it is difficult for someone to take over right where that employee left off. Due to this, small businesses especially need to keep in touch with their employees to find out what is motivating employees and what is de-motivating them.

Ideally this would be a regular conversation with the boss, so the CEO or owner would have months of warning that an employee may be leaving instead of two weeks. These conversations would also provide the opportunity to make needed changes in order to keep a valued worker.

5. Keep Work a Challenge

It may be counter-intuitive to some to make employees work harder in order to keep them interested, but employees are happiest when they are living up to their full potential. Allow workers to solve their own challenges and learn something new. Open up their tasks, so they can be free to make some mistakes in the learning process and make improvements to work processes. Employees who feel they own their work will be much more committed to it than those who mindlessly do what they are told.

6. Express Appreciation

The majority of employees need to feel that they are appreciated in their job, and they are contributing something important to the company. This doesn’t mean you have to spend a lot of time doling out compliments or handing out hefty bonuses to express employee appreciation, but giving an immediate “thank you” when an employee goes above and beyond and recognizing them in front of their teammates will create a more satisfying culture to work in.

Robert Cordray

Robert Cordray

I'm a business owner and entrepreneur turned freelance writer who enjoys writing about business, and Technology. I have experience in writing software, mobile app development, and information systems.

Leave a Comment