11 Employee Retention Strategies That WorkView all posts
Noted author and speaker Zig Ziglar once said, “You don’t build a business. You build people and then people build the business.” It’s true. Your people are your biggest asset and you need to take care of them if you want them to stick around.
Unfortunately, employee turnover is part of doing business. Employees come and go for a variety of reasons. It’s frustrating and expensive, but it can be avoided when the right employee retention strategies are properly implemented.
Boosting your employee retention rates is actually quite simple. The goal is to create an environment where your employees look forward to going to work every day. Below you’ll find some ideas that will help to make this a reality:
1. Start Now – The sooner you begin to focus on employee retention the better. As early as the recruiting phase, aim to find candidates who fit with your culture and team. Create a plan to keep your employees happy. Once an employee tells you that they are unhappy, it’s likely too late to get them to stay.
2. Build A Positive Company Culture - Company culture is the way that your team interacts in the workplace. It includes the values, beliefs, attitudes, and traits of your employees. Culture develops over time and it has a direct impact on how employees view their work life.
3. Offer Flexible Schedules/Telecommuting Opportunities - Technology allows people to work odd hours or even remotely. Flexibility will give your team the work/life balance that they want.
4. Be Open, Honest, and Transparent – Always communicate what’s going on. Tell your team the truth and nothing but the truth.
5. Engage Your Workers - Get to know your team on an individual basis. Take the time to chat with them and listen to their questions, comments, and concerns. Implement a regular feedback cycle so that everyone can grow and improve.
6. Offer Competitive Compensation Packages - Money isn’t the most important thing, but it definitely matters. Pay a competitive wage that includes perks & benefits and regular raises.
7. Set Clear Goals – Set your employees up for success by telling them what you expect them to achieve. Commit the time to help them meet any and all goals.
8. Recognize Excellence - Showing your appreciation and recognizing a job well done will show your team that you respect and value them.
9. Provide Training, Education, and Professional Development - Give your workers the tools and training to do their job to the best of their ability.
10. Outline Pathways For Advancement - No one wants to be stuck in a dead end job. Show your team how to climb the ladder and advance their career.
11. Think Outside The Box – Understand your unique audience. Offer them things that they’ll love and enjoy - unlimited vacation, tuition reimbursement, retirement matching, mentorship programs, season passes, etc. It’s your responsibility to take care of your team. It’s an on-going project, but it’s totally worth the time and effort.
Want more on retention?
Check out our flip book on “Retaining Your Best Employees” where WorkBright customers share their best retention strategies! Download the eBook here.
By: Derek Lennon, WorkBright