12 brilliant employee retention techniques (Part 2)
7. Be a company your employees can take pride in
We live in an activist age, and the next generation wants every element of their lives to contribute to solving problems, not creating them. Strive to become a company known for its accomplishments, your participation in, and your support of:
- Impactful charities
- Local community
- Environmental, educational, or equality-related issues
- Fostering teamwork and creating a family-like workplace
Find a way to make your company fit a reputation like that. In order to do so, you may need to reverse the direction of your company's reputation. For instance, you might own a car repair shop that supports environmental causes or is renowned for its eco-friendly waste management practices.
Passionate workers concerned about their actions' effect on the world will see working for a company with a positive reputation as a significant perk.
While companies must assess how their salaries and perks stack up against local industry norms, there are other factors in employee retention.
Remember that your staff members aren't mindless machines who exist solely to get a paycheck. They are concerned with their workplace, working environment, and coworkers. It's crucial to remember when competing in a competitive employment market rather than engaging in an unwinnable salary bidding war that could destroy your bottom line.
8. Smooth orientation and onboarding
According to 37% of hiring managers, candidates would remain with the company longer if they were given more information throughout the recruitment process. An unsatisfactory onboarding process for new employees creates a foundation of negativity in the new position. By making new hires feel like valued team members more quickly, a successful onboarding experience helps increase employee engagement and keep new hires on staff for longer.
9. Constant performance feedback
It makes sense to provide your staff with the tools they need to succeed at work. One of those essential tools should be performance feedback. Employee engagement is tough to maintain when they are unaware of their performance at work. Don’t forget to give your employees regular feedback, so they know when to anticipate it.
10. Reward and recognition programs
Implementing an employee recognition program can boost retention by 68% and recruitment by 56%. Even if you cannot invest much money in a rewards system, showing appreciation can significantly impact your staff. Employees want to know that their contributions are respected and acknowledged. You may reward and recognize your staff to boost engagement and give them a sense that their work matters simply by giving them a public thank you, a day off, or a gift card.
11. A focus on collaboration
Employee engagement is key to retaining staff. And cooperative workers are those that are motivated. When cooperation is prioritised, employees are more likely to feel like they are contributing to a community and working toward a common goal. Employees that feel more a part of the team will be more devoted to the business and feel more valued.
12. Recognition of accomplishments
Employees can remain motivated by receiving awards and recognition and feel appreciated as people, not just a worker. Celebrate important life events with them, such as birthdays and job anniversaries, to encourage them to consider how much they've changed in the past year. You'll discover that these intangible perks don't cost much money but they have a significant impact on employee retention as your employees know how much you value them as an individual.