It’s not enough that you know how to hire employees. You also have to know how to keep them and to make sure they won’t leave the company. Having high turnovers and attrition rates of your employees will cost you both time and productivity.
You might think keeping your employees loyal to your company is a not-so-difficult job. Seems easy, but it’s not.
Here are some tactics on how you can implement employee retention.
Keep the employees satisfied.
You may feel in sync to your employees’ likes and dislikes, but it will still be hard to identify what makes them happy especially when their intentions are quite far from your own.
You can’t read minds; you won’t know what goes inside people’s heads unless they tell you. You might be ambitious and hardworking and motivated by a high salary package, but too bad, not everyone has the same thinking.
One strategy you can adapt is that of which they have this trial period when an evaluation will happen where they assess whether a new hire is a good fit for the company. This strategy works for the company; who knows, it will also work for you. You just have to remember that you shouldn’t expect a zero rate turnover; after all, you’re willing to conduct employee retention strategies to deserving performers, and gracefully go on separate ways with the staff who just don’t do well.
Talk to them.
Some companies – especially those large businesses – may not be able to conduct meetings with each and every employee to have them provide contributions and suggestions to make the company better. The higher management may not be able to discuss the employee’s needs and what he desires might escape your attention.
What you can perhaps do is to conduct group meetings with employees that have the same intent – to get suggestions and comments hoping to make the company better.
Provide a competitive benefits package.
To retain employees, it’s important that you provide life insurance, health insurance, and a plan for retirement savings. However, to make them stay further, you can give these employees perks such as telecommuting and flexi-time to show your concern in assisting them with their lives outside of the office.
A full-scale improvement program might be too big a tackle to handle for now, so what you can do instead is to recognize your staff’s efforts for a job well done. Internal recognition always gives employees a boost and motivates them. When they feel recognized, they become more satisfied and have less chances of leaving.
Recognition is not an item but an action. When you recognize an employee’s efforts, you don’t have to give expensive items; you just have to let everyone know of their achievements.
Use incentives and contests.
By having these motivators (incentives and contests), they’ll stay inspired and they’ll feel rewarded. If you do these factors right, your employees will be excited and focused regarding their jobs.
From time to time, you can conduct simple activities that aim to reward employees. You can set rewards afterwards – perhaps an iPod or a family dinner.
It’s also ideal to go for a team activity; by doing so, employees might be willing to participate; he understands that there might be someone is his team hoping to get the prize, and he wouldn’t want to let that person down.
Find your employees’ growth path.
You have to find the great ones’ growth path. The great ones are like seeds – you have to nurture their talent and let them grow. After all, their talent will help you; you’ll benefit from their growth.
You have to remember as well that no matter how ‘perfect’ an employee might seem, every job presented to him is still something to learn about. No job is too simple for an employer to give his staff an opportunity to learn and improve. Just give it some time, and the said employee will become one of the best in the soonest possible time.