7 Effective Solutions For Employee Retention
So you’ve worked hard and hired some of the best employees available in the market. Excellent! Now comes the even bigger challenge of ensuring they stick around at working long enough to really benefit your organisation, because sometimes, it just isn’t always about the pay package. Here are some of our suggestions for staff retention.
1. Promote a healthy work-life balance
Encourage your employees to take time off every once in a while. It may seem beneficial to have people at their desks 24×7, 365 days a year; but it is only a short term gain leading to long term pain as even the best and brightest burn out and quit.This won’t help in retention of employees.
Offer Paid Leaves to allow employees time to recharge their batteries. Schedule daily 20 minute breaks where employees are forced to leave their desks and enjoy the outdoors.
2. Encourage ownership and provide effective feedback
This does not mean stock options. It simply means encourage employees to be responsible and accountable for any work they have been assigned regardless of their position. Avoid micro-managing as far as possible by implementing an effective system of review. Ensure you have an informal quarterly and formal yearly review for each employee, with regular informal feedback from line managers if they observe specific points for improvement. This is one of the best employee retention strategies.
3. Celebrating special occasions
Let’s face it, certain dates like birthdays, anniversaries, the day we joined the company etc. are important to us. Having those dates remembered and celebrated is valued by us all.
A well timed, personalised, card, letter, gift or phone call from the boss is something which would be something special and cherished all our lives. Celebrating such events will be a staff retention tool.
4. Contributing to society and making a difference
People like to feel they are integral, contributing members of society and that in their own small way they’re making a difference to the larger community.
Encourage the regular sponsoring of charities and have a day when employees actually go and contribute to their charity of choice. Take a page out of PM Modi’s book and maybe have a cleanliness drive of the neighbourhood where you operate.
5. Invest in your employees
An extremely common reason for employees, especially skilled employees, to leave is if they feel they have reached a saturation point and have no further room for growth in your setup.
Invest in your employees. Support them in the development of their skills and help them chart out their growth plan in your company will be beneficial in retention of employees.. Have meetings with employees to keep them in the loop about the Company’s current plans and how each of them is key to its execution. When employees see themselves as key and valuable components rather than just cogs in a wheel they tend to become self-motivated and far more productive.
6. Recognise and reward achievement
Always recognise and reward achievements of employees on a regular basis. People like to feel appreciated for the work and the hours they put in, so let them know that their valuable contribution has been appreciated. There’s also no harm really in encouraging a little healthy competition!
Implement an Employee of the Month system and have them recognised in front of the whole organisation. Make it a celebration and it will help in staff retention. Maybe have regular little competitions with small, fun prizes.
7. Take feedback and communicate with your employees
No one has all the answers to this million dollar question and no one solution fits every company. So talk to your staff and take their regular feedback.
Take a survey and find out what would help them achieve job satisfaction. It might be a very small thing and it wouldn’t break your bank to provide it and it will be a staff retention tool.
Always remember; A Happy Employee is a Productive Employee!
Now that you know the secrets to keep your employees happy, why not keep hire some as well? Register on Aasaanjobs to hire skilled and quality assessed candidates today!
Also published on Medium.