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Up Your Strategies to Retain Employees Featured

Up Your Strategies to Retain Employees woman sitting at table

A survey by Monster indicates that 82 percent of the employees surveyed have updated their resumes over the last six months. On the other hand, 59 percent of these employees are actively looking for a job. This spells a tough time for companies when it comes to employee retention. The challenge of employee retention is giving employers who want to do their best to keep their employees a huge headache, considering some industries require experts that are hard to replace. Losing and trying to replace employees is not only time-consuming but is also expensive. If you are constantly recruiting new staff and training them, that is a lot of time wasted that could have been used to serve the customer. Perhaps now is the time you up your strategies to retain employees. Here are a few tips that might help you keep your staff longer.

  1. Provide your staff ongoing education and promote from within

Employee education should not end in school. Organizations must ensure their members of staff are trained regularly on new occurrences and innovations. Training should provide a path for staff to be promoted from within and for the increase compensation and responsibility. Apart from giving the employees the necessary skills to deliver their mandate, training, and promotion from within make employees feel valued and are a crucial part of the company’s future and success. You cannot promote an employee without training and development. This is a critical component in retaining them. Training the employees helps them acquire new skills and learn about new technologies and modern processes useful for their daily operations.

  1. Give employees the right benefits

Employee benefits and rewards are crucial in keeping employees happy, productive, and engaged. Although many organizations offer only financial rewards to their employees, they should do more than that. Consider giving your employees healthcare coverage, paid leaves, and stock options, or other financial awards for those who perform exceptionally well in a given period of time.  According to CTA, 88 percent of companies view bonuses and incentive compensation as crucial in retaining employees. Other vital aspects you need to consider include flexible work schedules and remote work, which gives employees an opportunity to attain their work-life balance.

  1. Internal recognition

Nothing is fulfilling to an employee like being recognized and promoted by the employer. It makes them feel valued and treasured by the leadership. Recognize employees for a job well done and give them an incentive. Internal recognition is one of the best ways of boosting employee engagement and increase the levels of satisfaction. Sometimes, you do not need to give your employees any financial reward for a job well done. You can simply congratulate and encourage them to continue doing well.

  1. Be transparent and open

Open communication between employees and company leadership builds trust and develops a sense of a shared purpose. Proper communication that includes regular meetings where employees are heard and their opinions taken into account creates a community where the weak and the mighty contribute towards and cause and their problems addressed. Holding regular meetings where employees ask questions and creating open-door policies that encourage employees to engage their leaders make them feel they are valued and that their input is taken seriously. Open communication allows employees to vent through the proper channels. This limits employees from opening personal networks to talk about someone or something that could have helped make the workplace better. Open communication channels build trust among employees and company leadership, and leaders can learn many things from the employees and improve their systems and processes.

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Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

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