Employee retention part 3: Strategies to improve your employee retention rate
If you have read the previous part of this blog series, you are already aware of what employee retention is and why it matters for every company or business. You should also be aware on how to calculate employee retention rate and to tell where your company or business stands. This blog tells you effective strategies on how to improve and work on a low employee retention rate in order to make things more effective for your company.
Hire the right people
Hiring the correct people onto your team plays a great role in improving your company’s employee retention. Having an effective and specialized recruiter is best to have the job done. It is important that from the start of the hiring process you already know and understand the candidate if they have the right skills for the job or at least have the capability to develop the skills for it. If you require help from the experts, a retained recruitment search service is one of the best solutions to this.
Train employees properly
Training your employees does not only improve their skills and knowledge but also boosts the team’s morale. Not doing so may lead to making employees feel that they are not competent enough to do the job. This could also lead to a low quality performance. They may end up looking for other opportunities from other companies where they feel like they would fit more and be trained well. Consider having a designated time or schedule for training and skills development to improve employee retention rate.
Be a good communicator
Communication is another crucial factor for employee retention. An employee should fully understand what is expected of him/her and managers should always be ready to hear their sides. This promotes proactivity in the workplace and could stop any impending issue that a company may have.
Show appreciativeness as much as possible
A good way to make your employees feel their efforts are being seen and recognized is to show appreciativeness even in little ways. If possible, create an internal recognition program from time to time – this way they can feel that their hard work is being valued and their colleagues are aware of their significance.
Let employees know how effective their efforts are
Following up the point above, it is also a good way to let employees know how effective their efforts are. It is helpful to make them aware that their hard work really means something for the business. One good way to make this possible is to highlight a client/customer’s success because of the work that an employee has done.
Observe a good work-life balance
A healthy work-life balance is one of the things many employees look for in a company. Managers should be responsible to delegate tasks to employees but also encourage them to set time frames for them. This promotes a balanced work and off-work time and could stop them from feeling a job burnout.
Offer flexible working options
Due to the previous pandemic a work from home setup has been a thing for many companies worldwide. Companies that offer flexible working options in terms of schedule and workplace is one factor that employees look for. This does not only allow them to have a convenient work setup, but also shows that the company trusts them even though they don’t meet in person.
