There are several ways to improve employee retention. The following five will help get you started:
- Implementing Effective Onboarding
- Creating a Positive Workplace Culture
- Encouraging Job Satisfaction
- Offering Relevant Environmental Factors
- Following the Law of Inertia
Implementing Effective Onboarding
One of the main drivers for employee retention is effective onboarding. Creating a personalized onboarding plan for each new hire will encourage your new employee to feel welcome and will improve the overall culture within your company. You can find more information about Employee Onboarding with Resourcing Edge here.
Creating a Positive Workplace Culture
Encouraging a positive workplace culture reduces turnover and improves employee retention. Benefits, health care, social activities, professional development, flexible work schedules, etc., all contribute to a healthy company culture. Implementing a strong value statement and purpose will also help improve culture.
Encouraging Job Satisfaction
Job satisfaction is more than just good pay and attractive benefits. Employees who feel satisfied with their job also feel their work has more meaning and is more challenging, and therefore is more rewarding. There are several ways to improve job satisfaction, including offering equal treatment of all employees, creating trust between employees and management, encouraging job security, and creating a healthy workplace environment.
Offering Relevant Environmental Factors
Environmental factors like salary and benefits, work rules, and coffee breaks can help improve employee retention. You must first know the wants, needs, and desires of each employee to help understand what environmental factors are most important to the culture of your company.
Following the Law of Inertia
Newton said it first. An object at rest stays at rest and an object in motion stays in motion. A body that is not moving will not move without good reason. Employees will not leave a good company if there is not good reason to leave it. Understanding the wants and needs of your employees and offering relevant environmental factors will contribute to employee loyalty.
Improving employee retention can be, but does not have to be, difficult. It stems from a basic understanding between employer and employee, and mutual trust and respect between the two. At Resourcing Edge, we understand the importance of improving employee retention and the success it can bring your business. Contact our HR Professionals for more information.