Companies have never spent more time and money on hiring and employee retention initiatives than they have now. However, employee retention isn’t as tricky as some portray it to be! By taking a new approach to how companies initiate new candidates and treat their current ones, businesses can avoid this constant cycle of struggling with high employee turnover.
So, don’t worry! We’ve got your back and have outlined the three easiest strategies to improve employee retention.
Three Simple Strategies to Boost Employee Retention
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Remote Work Capability
As technology has reshaped the way we perform our jobs, more companies are reevaluating the traditional 9 to 5 workday. Employees are now straying away from the brick and mortar workplaces. As a result, companies are now offering one remote workday a week as an option for employees.
Benefits of remote work include boosted employee morale, an increase in productivity, and reduced turnover. In fact, American Express teleworkers were 43% more productive than their respective coworkers in the office. When employees feel that they have some control over their work lives, they are more likely to be content with their current jobs. Thus, employees with flexible work options are less likely to leave a company.
2. Development Opportunities
To prevent a stagnant workplace, consider sending employees to workshops, online classes, and conferences to further their education. Besides applying their newfound knowledge at your company, workers also enjoy work environments where they can consistently develop their own skill set. Adding value to your workers also further prepares them for role advancement, which can be seen as a bonus incentive for continuous learning.
When keeping your employees engaged, be sure to double check the educational materials that you invest in. It would be counterintuitive to invest heavily in a career workshop that serves few benefits for your employees. For educational ideas, listen to your workforce to get a better grasp of skills they wish to further develop.
3. Listen to your employees
Whether you’re offering a paid birthday or scheduling fun company events, it’s important to listen to your employees so you can provide the best possible work environment. For instance, your employees might prioritize ergonomic desk chairs over a well-stocked snack bar. By taking their opinions into consideration, you can save money and time with your budget. There are several great resources available online for inexpensive benefit options.
In addition, make sure to ask for frequent feedback with work projects and procedures.
This can greatly improve the company culture, as your people will feel that they can truly make a difference in their workplace. When employees feel valued, they are less likely to seek new jobs.
Conversely, it is crucial to provide feedback to your employees to improve your office culture. Not only can you recognize and celebrate their wins, but it is also a fantastic opportunity to address potential improvement. Employees value your input just as much as you value their opinions!
Reduce employee turnover by enacting change now
We hope these simple strategies have been helpful in creating a positive workplace. Do you have any creative suggestions on how to improve employee retention? Make sure to let us know! We would love to hear your suggestions.