Employee retention is a key indicator of business success. The reason for high turnover may include dissatisfaction with compensation and benefits, lack of recognition and appreciation, poor management practices, among other factors.
Acknowledging employees can be done by showing them you appreciate their work and the impact they have on your business. It can be as simple as saying thank you and giving high five when they complete tasks, or it could be as elaborate as sending flower to congratulate someone on promotion. Recognition plays a critical role in employee engagement and retention and it affects their decision to stay with an organisation or not.
It is important to offer benefits that are meaningful to your employees, but also those that are meaningful to the business. You want to ensure that both you and your employees can achieve what you set out to do when offering these benefits. For employee retention, it is important for businesses to provide benefits that help them stay motivated and happy at work. This can be done by offering a wide range of features, including flexible working hours, paid time off in terms of leave that is additional to minimum provisions of the law. Bonuses based on performance and health and other form of insurance.
Promoting ongoing training and education is another way of improving employee retention. In order to be successful at their jobs, employees need to be trained on all the new processes and procedures that are introduced in an organisation. The more they are trained, the better off your company will be because it will mean less time lost because of issues caused by lack of training. Continued education helps build employee morale by showing them how much the company values their skills and the employee knows that he or she is being provided with opportunities for growth and development within the organisation. The employee will feel more invested in his or her work environment and less likely to look elsewhere for employment opportunities.
Making your employees feel valued and appreciated is the first step to creating a positive work environment. We can do this by demonstrating that you care about their concerns, offering them opportunities for professional development and growth, recognising them for doing good work in front of other. A positive work environment makes employees look forward to working and gives work their best, making it one of the top employee motivators.
Ensure that employees feel connected to the organisation’s mission, vision and values. It motivated employees when they know what we expect of them and how their performance will affect the attainment of the organisation’s mission and objectives. Thus, it is important to establish clear expectations, so that everyone knows what we expect of them. Employees need to feel that they are being treated by management all the time. Practices that bring unfairness to the workplace should be shunned.
Keeping employees ensures the best talent is attracted, hired and maintained in the organisation, the organisation does not lose its best talent, and that talent is developed within the organisation. This contributes to business, growth, continuity and organisations prosperity.