Employee Retention Five Tricks You Could Learn From Top Organizations
Updated: Feb 2, 2019
Like family members, employees are an important part of the life of any employer. Top organizations do not joke with their workforce, many of them even go as far as setting up working mechanisms to ensure that they retain their employees over a long period of time. The strength of a firm’s workforce and their level of comprehension of organizational objectives determine the success rate of the firm. This is the reason why it is often a shame to have well-grounded employees who understand all the working principles of the organization walkout on the organization for minor issues. Here are some tricks top organizations use that you can imbibe to keep your workers committed to your organization over a long period of time.
Provide Opportunity for Growth
Apart from the monitory remuneration they get, employees want to develop professionally too. Most employees will feel bad about you and your firm if working for you does not give them any opportunity to develop their professional skills.
Organize seminary for your employees, send them for trainings and reward them for learning new skills,
this will make them know that you care about how much they grow professionally.
Recognize a Job Well Done
It is very frustrating when an employee gets scolded for not performing up to standard, but gets ignored when he's doing a good job. This frustration can often lead to the employee seeking for another organization where his effort will be duly recognized. Look inwards among your staffs and ensure that they get the nod from you every time they do a good job. Don't underrate what a simple handshake, a recommendation, or an expense paid trip can do to the psychology of your employees.
Get To Know Them, Outside the Workplace
Beyond what they can do for you and your firm, get to know your employees and what they like too. Ask about their families, sponsor them to do the things they love sometimes. These will make them aware that you care for them beyond what they can offer you, and it will in turn foster trust.
Create an Employee Centred Environment
Let your employees know that you also think about their personal welfare. Sponsor them to workshops where they can learn other skills that are entirely unrelated to your organization, make their work hours flexible enough for them to have time to handle their personal issues too, run mentorship programs for them, etc. These will make them feel secured, working for you.
Finally, the monetary aspect shouldn't be ignored. Pay up salaries when due, provide bonuses when they achieve certain feats, sponsor all or part of their vacation fees, provide free medical care, etc. These will make your employees feel like family, motivating them to put more effort to improve their work rate.
It is a reality of the present day work environment that most staff are constantly on the lookout for better offers than what they have presently.
The rate of staff turnover is incredibly high in some industries and employers need to be proactive to nib this in the bud.
Apart from compensation through salary, you should also find ways to motivate your employees to remain loyal to you. This can be in form of loyalty bonuses or performance incentives. You don’t have to make it a competition, make it open and available to all.
Another way of motivating your employees is by publicly acknowledging and praising their work and contributions to the company. Money is not everything, making your employees know that they are appreciated and seen as important parts of the company will go some way in winning their loyalty.
Work satisfaction is generally what keeps employees from leaving a particular job. Putting these few principles to work will help give your employees a feeling of satisfaction around workplace.