Are your top talent walking away?
Employee retention is the company’s goal to keep talented and skilled employees. For lower employee retention, you need to nurture and engage your talent to stop them from leaving.
In this article, you’ll discover some amazing employee retention techniques.
1. Build a Great Onboarding Process
New employees want to become a valued members of the team. That’s where the onboarding process comes in!
The onboarding process is an excellent opportunity to build trust with new hires and prove to them that the company culture you’ve promised them is real.
2. Conduct Career Development Meetings
Helping employees in their career development and achieving their goals is one of the most crucial employee retention strategies.
Managers should schedule one-on-one career-focused meetings with their team members. Discuss their goals and needs, ensure that expectations are clear, and check that progress is being made.
Regular check-ins demonstrate that managers care, and allow the employee to bring up any potential issues before they can grow into serious problems.
3. Give More Positive Feedback
HBR’s study shows that the ideal ratio between positive and negative suggestions is 5.6 (positive) to 1 (corrective).
You should give positive and constructive feedback to motivate your employees. Some great ways are through handwritten thank you notes, shouting on social media or company group, etc. These things motivate and encourage an employee to contribute and excel.
4. Work-Life Balance
It’s difficult to find the right balance between work and personal life to feel good that both areas are receiving enough attention. Provide a work-from-home scenario and flexible hours where employees with children or adults with hobbies are allowed the freedom to enjoy life to the fullest, but still get their work done.
5. Build an Employee Recognition and Reward Program
Building a recognition and reward program is all about telling them that you notice and appreciate their efforts and work. It could be a simple high five or a thank you note or a simple message on social media. Or It could be a company-sponsored outing, a thoughtful email, or a gift card to their favorite store.
When employees feel valued and appreciated, they have a positive perception of their workplace. But keep in mind that recognition has to be done well in order to be effective.
6. Start a Mentorship Program
Mentors can offer guidance and be a sounding board for newcomers, welcoming them into the company. And it’s a win-win: New team members learn the ropes from experienced employees, and, in return, new hires offer a fresh viewpoint to your mentors. People stay when they have a good manager.
7. Wellness Program
Mentally and physically healthy employees bring an array of benefits to the businesses they work for. Keeping employees fit, mentally, physically, and financially, is just good business. The employer can offer compulsory employee wellness programs, fitness program, staff seminars, or even work with a third-party provider offering a variety of programs.
8. Offer A Competitive Base Salary
Your employees want to feel like the effort they put into work is worth their time. When it comes to employee retention, money isn’t everything, but offering a competitive salary can help your people feel like their work and time are valued. One of the primary reasons that make employees quit is the lack of compensation. Review current wages, and determine if you need to make any adjustments to be competitive.