If you have ever managed a team or business and had a top employee resign out of the blue, you must deal with an array of challenges. Not only do you have to find a replacement for this individual, but you also have to consider the impact this sudden departure will have on the other members of your team.
When someone walks out, people notice. Some may also wonder if they need to begin searching for a new job, too. This is why job satisfaction and employee retention need to be high on the list of priorities for every business – regardless of size or industry.
Along with making employee retention a priority, you must also create and follow retention strategies to help reduce turnover. Sometimes this involves implementing new technology, such as delivery routing software, and other times it means offering perks and showing appreciation. Get some ideas about how you can keep your employees below.
Onboarding and New Employee Orientation
When you hire someone new, you need to ensure they are set up for success with your company. The onboarding processes your company follows should teach your new team members about their job along with company culture and how they can contribute to this and thrive. Never skimp on this crucial first step. The support and training that you provide from the new person’s first day will set the tone for the employee’s time with your company.
Set Up Mentorship Programs
When you hire someone new, pair the new employee with a workplace mentor. This is a great way to add to your onboarding process and make it even more effective. A mentor can provide guidance and be a sounding board for the newcomers.
It is also a win-win situation. Your new team members will learn what to do from employees who have been around for a while, and the new hires will provide a fresh viewpoint to their mentors. The work supervisors of new hires should not have to double as their mentors.
Employee Compensation Considerations
In today’s competitive labor market, companies need to provide appealing compensation packages. This includes the person’s salaries, too, but also refers to paid time off, bonuses, retirement plans, and health benefits. Each one of your employees needs a complete understanding of all the benefits they are going to receive from your organization, right from the start of their employment.
It does not matter if you are talking about paid time off for employees to volunteer, free coffee and snacks, catered lunches, or something else; it is these little things that can help to boost your employee’s morale. There are even some companies that will negotiate discounts for bigger items purchased from homes and vehicles to home security systems, smartphones, and more.
Keeping your employees fit – physically, financially, and mentally – is considered “good business.” It is important to offer your employees these incentives and encourage them to engage in healthy activities and physical wellness. Remember, when your employees are healthy, it means there will be fewer sick days and higher levels of productivity in the office.
Feedback and Communication
Maintaining open lines of communication are a formal way to describe practices that are important for retaining employees. Your workers should feel like they should come to you with concerns, questions, and ideas. They should also be able to expect you to be open and honest with them regarding improvements that should be made in performance. Be sure to contact every staff member regularly. Never let problems or issues build up until their yearly review – this can lead to serious issues.
Retaining Your Employees Is Possible
There are steps you can take to ensure your business is able to retain your best employees. Keep the tips and information here to help ensure that you do not lose your best employees and that they are fully satisfied in their position with your company.