Since workplace trends are constantly evolving, retention strategies must also adapt. It is important for leaders to stay informed about the evolving needs and desires of their employees.  

Employees are more likely to stay with a company that adapts to current trends and priorities their well-being 

Here are five innovative employee retention strategies for small businesses to try this year.  

Increase employee recognition 

Employees who feel appreciated for their work and efforts are more likely to stay at a company long-term. When hard work is rewarded and recognized it makes employees feel like they are vital and important to a company.  

Here are several ways to recognize your employees for their hard work:   

  • Say thank you 
  • Buy them a small, thoughtful gift  
  • Provide perks or incentives 
  • Feature employees on social media  
  • Send them an email or text message expressing appreciation 

Build a positive culture 

Create a culture that people want to be part of. Employers can create a vibrant workplace culture by encouraging social interaction and team-building exercises. When employees know each other and get along, it greatly impacts the workplace culture.  

Another way to promote a positive workplace culture is to follow through with your company’s values. For example, if inclusivity is one of your company’s values, then it is important to lead by example and be inclusive. If you notice that some employees are not being inclusive, let them know that it is not tolerated because they are not abiding by company values.  

Reduce burnout  

One of the top reasons that employees leave a company is because they are burnt out. Burnout is caused by unfair treatment at work, lack of communication, micromanagement, unmanageable workloads, and unreasonable pressure.  

To help reduce burnout in employees, consider conducting frequent one-on-one meetings and ask your employees if there are any issues in the office that could potentially impact their motivation to work.  

Encourage managers to be coaches 

50% of employees have quit their job due to poor management. When hiring, instead of looking for all the qualities you would want in a boss, consider the qualities you would look for in a coach.  

Coaches recognize that their employees are team players, and they strive to support their team’s success. However, if you only look for someone to fill in the role of a boss then individuals in leadership roles may misuse their title to exert power over their team. When interviewing candidates for a management role, be sure to give them several possible scenarios to see how they would respond or react.  

Offer flexibility  

One of the most innovative ways to retain employees is by working with their personal schedule. Employees want flexibility now more than ever, and they are more likely to stay with a company that is willing to work with them.  

When employees have obligations that impact their work schedule, consider being open-minded and allowing them to leave work early, or show up to work late. 94% of employees say they would benefit from a flexible work schedule, so consider implementing flexibility in your company to help retain employees.  

These are some of the essential characteristics that employees are looking for this year. Consider implementing some of these innovative strategies into your company, to help increase retention.