Unemployment is low, and today’s employees are fickle. They’re easily pulled away from stable employment by the promise of a higher salary and perks like flex scheduling and remote work. And if one person leaves your company, everyone else starts to look around and wonder if they should too. If you’re not careful, you could suddenly lose a swarm of employees, maybe even your best ones. Here are five employee retention tips for your company.
Provide proper onboarding
Your employee retention program can start as soon as you hire a new employee. Welcome them properly with an introduction to your company culture, values, and mission statement. Provide the orientation, training, and mentoring they need to be successful. Give them the chance to ask questions and address any issues as soon as they arrive. Pairing each new employee with a mentor to offer them guidance and support is a good way to welcome them into the culture and makes them more loyal and accountable.
This one seems obvious, but it’s crucial to offer an attractive compensation package with a competitive salary, bonuses, paid time off, health benefits, retirement plans, and any other perks that might keep them satisfied.
There are lots of ways to celebrate successes. It might mean simply saying thank you when you know an employee has tried extra hard, or it might mean recognizing an achievement publicly, either on social media or at a large team meeting. It could also mean celebrating a team win with a party or luncheon or rewarding employees with gift cards or bonuses. What you do will probably depend on your budget and your company culture, but as long as it’s motivating your employees and making them feel valued, your reward system will be a success.
Train and develop
In any industry, employees want to know there’s a possibility of advancement, so give them that assurance. Offer your employees professional development, whether it’s formal classes at a community college or university, online courses, workshops, or seminars. By investing in your employees, you show them that you value them and trust them and think they have the grand potential for leadership and advancement someday.
Offer honest feedback
One of the easiest ways to show your employees that you value them is to maintain open lines of communication. Encourage them to come to you with ideas, concerns, questions, and opinions. And give them the same type of respect by offering honest feedback and constructive criticism when appropriate. Connect with individual employees pretty routinely and with the whole team once or twice a month too.
Need help recruiting or retaining?
For more tips on keeping your best employees, so they don’t leave for greener pastures, contact Pridestaff Thousand Oaks today.