Statistics show that more than 3.5 million employees have voluntarily left their job every month since the beginning of this year. Focusing on retaining your employees is a top priority in today’s work environment. Looking at ways to reduce employee turnover will save your company money while maintaining productivity. Here are the top five ways to increase employee retention in the workplace.
#1 Offer Competitive Salary and Benefits
One of the best ways to improve employee retention is by offering a competitive salary and benefits. This will allow you to keep top-notch talent. Providing an opportunity for career advancement is another great way to maintain your employees for the long-term.
#2 Hire the Right Person
Before you start retaining employees, you have to ensure that you have hired the best job candidates. This is one of the key factors when it comes to improving employee retention. Checking out prior job history is an effective way to determine if an employee is a good fit for your organization.
#3 Focus on Employee Engagement
Focusing on employee engagement is another effective method to improve employee retention. Employees that remain engaged are more productive and will work with your company for a much longer time.
#4 Hire Leaders and Not Bosses
Having the right leadership in place is key to maximizing the length of an employee’s tenure. A clear direction from the top creates a better work environment for everyone.
#5 Focus on Creating a Steady Environment
Employees never stick around long in a chaotic and dramatic environment. However, a steady environment is an excellent option in keeping employees for the long-term.
Employee retention in the workplace is top-of-mind for many organizations. Keep in mind that employees always consider who they work with, how they work, and where they work. Losing an employee means losing valuable institutional knowledge, which can result in lower morale in the remaining employees and lost productivity.
