A strong workforce begins with the hiring of the right candidates who carry the potential to lead the organization and take it to greater heights. Losing such brilliant and talented employees can at times cause abundant loss to the company. Which is why, it becomes vital for employers, especially the HR professionals, to retain these employees. Higher the employee turnover, higher will be the overall productivity. The following tactics should help you in retaining your top employees:
Offer a competitive package as per the industry standards that match your employee’s profile. Providing additional benefits apart from the monthly salary such as health insurance, life insurance, retirement savings plan are essential in retaining employees. Apart from the economic benefits, other perks such as flexible timings, telecommunicating options are a good way to show employees your willingness to keep them content at the job front.
Attractive perks are a great way to make your employees happy. A pickup and drop service may seem insignificant to you but it is a great deal for employees as they can save their travel cost. It will also help them be on time.
Your employees are more likely to stick around when you arrange contests and use incentives. These small gestures keep them motivated and make them feel rewarded. Moreover, these meet ups will cut down the monotonous routine for employees as well as the employer. Such occasions bring all the employees together thereby creating an understanding between all the teams belonging to various departments.
Conduct surveys to know whether the employees are satisfied with their work. Resolve their issues which will help them perform well. Their feedback will help you strengthen your employee retention tactics. Employees should feel free to talk to someone preferably an HR who can answer their questions and clear their doubts regarding anything and everything related to work. HR professionals are up to date with employee trends thus they can ensure that all employees are treated fairly.
You could offer a training session which would benefit the employee other than the work front such as soft skills training, personality development, etc.
Provide annual promotions for employees who show an exceptionally good performance. Nothing boosts the enthusiasm of employees than a pay raise. Employees who meet performance goals or stay for a predetermined period should be rewarded with a bonus.
Encourage all employees to do their best. This will keep them focused and motivated in completing their tasks. Your staff should be able to openly discuss their issues without any fear. A good employer provides a sustaining and boosting environment which makes employees feel like getting up and coming to work each day.
Specify your business goals so that employees remain in sync with what the company looks forward to and what it wants to achieve in the years to come. The vision and mission of the company should be at the center spot in whatever you do. Let employees grow with the company. It should be a collective effort and not just a bare individual profit.
Good leadership is a great example of retaining your employees. A good leader is one who ensures that all the employees are satisfied with their work. If you do not seem to be a cooperative leader who takes care of the needs and wants of his employees, they will surely seek leadership somewhere else.
Top level management support
Every employee dreams of performing well and excelling in his work. This can only be possible when he receives enormous support from his peers. Most people have a perception that seniors are always there to blame juniors and make them work endlessly. Employees are also likely to leave when their frustration exceeds the threshold. To retain your employees, you need to constantly offer them a helping hand whenever they fell puzzled or get stuck in any situation that would be unfamiliar to them.
Building a friendly relationship with the employees
Interacting with a one on one basis with your employees will improve your relationships with them and make them look up to you. Instead of discussing with others they will seek advice from you at the time of any crises. This way you can maintain transparency with your employees and keep tabs with what is going on between them. Maintaining harmonious relationships with employees makes them feel less pressurized and work peacefully thereby adding to the productivity of the organization.
Retaining employees is far more challenging than hiring them. Employers implement strategies to hire the apt candidates, however; they often overlook strategies to make them stay. This aspect should also be included while constructing recruitment strategies and given an equal amount of weightage.