Just like customer retention is important, employee retention is vital for the success of a company.
Keep in mind that you have plenty of competitors and if you don’t give your best to your employees and your customers, they will go to your competitors. While many companies focus on customer acquisition and retention, they skip over the power of employee retention. You definitely know just how difficult it is to hire the right employees, to train them, and to help them adjust. Surely, you don’t want to keep doing that over and over – it is a waste of money and time. This is why focus on employee retention is crucial.
Pay Attention to their Career
Employees will stay with you only when they see a future. Employee retention will come easy to you if you focus on individual careers and help them with career advancement. Thus, you should start off with creating an environment that is positive and encouraging, and then move on to help them pursue their career.
Healthy employees are happy employees and happy employees are productive employees. Promote health in your work place using subtle tactics such as letting them walk around once in a while, giving them alternative work spaces so that they move out of their work desks or cubicles, and so on.
Bring in Learning Opportunities
No one likes lethargic, dead-end jobs. Incorporate learning in your work culture, thus. Give your employees an opportunity to learn and grow so that they remain interested and motivated. Learning encourages people like nothing else and you should definitely use that. Spend some money on new technologies for your employees to learn of, for example, and see how your employees feel about it.
Encourage Networking and Support
Create communities and help your employees give back what they learnto valuable causes. It may be skills or expertise or just their time – anything can make a huge difference. Plus, such community work will pull them closer as a unit and encourage positive work environment. At the same time they will be encouraged by the fact that they are a part of a large group. The satisfaction they receive is the icing on the cake.
Hiring great employees is only the first task. After you hire, you should work on retention so that you don’t go through the process of hiring all over again. Make your workplace a healthy, positive place where people grow, learn, and network with satisfaction.
Employees are the backbone of a business and working to retain them is one of the most important responsibilities of a leader. Ensure that your workplace is good enough for talent to flourish and to stay by focusing on their careers, health, and their welfare.