Gone are the days when employees used to hardly shift their job. Nowadays, employees choose to take up new opportunities every few years for multiple reasons, specifically career growth. In such a dynamic scenario, how do you ensure that the employee stays with you longer? Here are 5 powerful strategies that will help you for sure.
Understand the reason:
It is time to introspect if no employee stays with you for longer. Employees leave if they are not well-paid, under-appreciated, inadequately engaged with their work profile or feel that the working environment is toxic. Employee retention focuses on strategies to ensure employees feel engaged and appreciated enough to stay with the company for long.
Employee retention strategies offer multiple benefits, including:
– Saving time and money
– Retaining experienced employees
– Building stronger relationships with employees
– Creating a positive company culture
– Improving working experience for new joiners
So, here are five effective tips to enhance your employee retention rates:
1. Impressive onboarding process: The first impression is the last impression. Make sure your new employees hit the ground running by giving them an impressive onboarding experience. It includes sending them a welcome mail, making them feel special with a welcome kit, taking them out on a team lunch, and introducing them to company culture through handbooks and team introduction.
2. Create a positive company culture: If the employees love coming to their workplace and the company culture is positive, they will think twice before leaving it. Employees tend to sacrifice a few per cent of growth if they feel that their current employer is compassionate and looks after all their needs. Do not let your office become a breeding ground for office politics and toxicity by bringing transparency, maintaining clear communications and setting up SOPs.
3. Give your employees authority: Employees tend to lose interest in work if they feel powerless. It is important to give them the power to voice their concerns, communicate ideas and even execute them. This approach creates the right environment for innovation and talent to flourish. Also, the employer should openly accept the employee’s feedback.
4. Appreciate them often: Many surveys indicate that employees leave if they are not recognized or appreciated. It is important to encourage employee to take ownership of their work and appreciate them openly if they deliver their best. This gives employees a sense of growth and career enhancement. Even from a monetary perspective, it is important to acknowledge their contribution to the company’s growth.
5. Growth opportunity: Who doesn’t like to feel that they are valuable for the company’s success? Employees perform their best and stay with the organization if they feel that their efforts are bearing fruits. So, by giving them promotions, charge of a project or crucial responsibilities, you can make them feel that they are valued, and they can grow personally and professionally within your company’s ecosystem.