Employees are often your greatest expense as an employer, so it makes sense that you want to hang onto them. Retaining employees is important, but takes time and effort to do effectively and you may be unsure of where to even start. Here are four tips for retaining your top employees:
When employees feel they can’t progress any further at your company, they might be inclined to search for growth elsewhere. According to a study at CareerAddict, lack of progression is the number one reason people quit their jobs. To keep employees from feeling discouraged about their progress, be clear about opportunities for growth in your company. You can do this by offering trainings, new projects, and other development opportunities. Ask employees what types of development opportunities would be more valuable, but also make sure they align with company goals.
Praise can be a huge motivator at work. If you feel an employee’s contribution was meaningful or particularly helpful, take time to share those thoughts with that employee. You don’t have to do anything big or showy every time an employee does a good job; a simple “thank you” for recognition of their work is enough to make a positive impact on employees.
Create a Positive Environment
Sometimes top talent will leave not because of the job itself, but because of the environment the job is in. Issues in your work environment that can drive employees away include gossip, unhealthy competition, bullying, toxicity, and others. Dealing with the various issues that can come up in your company is tricky. However, a lot of problems can be solved with honest communication and clear guidelines. If you take the time to make your workplace a place built on trust and mutual respect, you will likely see your employee retention improve.
Offer Flexible Benefits
Benefits are often as important to an employee as salary, leading them to look elsewhere if your benefits aren’t up to par. The best way to counter this is to offer a wide range of flexible benefits to meet most of your employees’ needs. Traditional benefits like health, dental and visions plans are just the basics. Offering additional options such as life, insurance, disability, and retirement plans can set you apart as an employer. Also keep in mind time off, remote work, and other flexible work arrangements that may help you attract and retain the best employees. Working with Helpside allows you to provide custom benefits packages to your employees, making sure that your offering fits their needs and their budget.
Retaining your top talent is vital to the success of your business. These tips can help you better retain your employees.