The ability to recruit and retain employees is vital to the success of any business. There are a significant number of businesses out there that don’t have an employee retention strategy but are then surprised when one of their most effective employees resigns.
This is an all too common situation, and one that is easily rectified with just a few features that an employer can incorporate into a role, that will encourage an employee to want to stay within a business. Take a look below as we explore some of the top ways a business can gain high employee retention.
More and more employers are choosing to allow for flexible working, a significant draw for candidates to a role and one that is actively sought by employees. Research has found that 67% of employees wish that their workplace offered flexible working, with an astounding third of employees stating that they would choose flexible working over a pay rise.
Offering employee benefits can come in many forms, including cash bonuses, extra holiday allowance for birthdays, healthcare plans, rewards schemes, and so much more. Providing employees with benefits can go a long way in keeping job satisfaction high, therefore ensuring your employee retention also remains high.
Many employees leave a company due to the fact that they don’t feel as though they can progress in a role, or they no longer learn anything, and subsequently move onto their next challenge. Offering employees training opportunities will allow them to further their career, therefore not only benefiting their own job role but bringing in further skills to your business.
Creating a great company culture is something that countless businesses strive towards. Happy employees ultimately mean greater job satisfaction and therefore encouraging a positive company culture is vital. Planning team days or nights out, actively celebrating company success with employees and having excellent communication with your team will go a long way in establishing a great company culture.
Holding scheduled and regular reviews with your team is a great way to encourage further communication. These reviews should discuss what is going well with an employee, where they think they could improve, where you think they could improve, and where employees think the company itself could improve. In discussing topics such as these, any issues an employee has can be quickly identified and subsequently addressed. Left to fester, these issues could snowball which more often than not leads to their resignation.
Improving your business’ employee retention rate can be done with the right strategy for your business. How does your business retain employees? We’d love to hear your thoughts on Twitter.