Employee retention is something many modern businesses struggle with, but there are simple ways in which you can boost your retention levels.
Your business might not always be able to increase your employees’ pay, but there are other ways of keeping your staff happy, and they don’t necessarily cost much to implement.
Here are five simple ways to boost your employee retention levels.
It’s hard to write an employee retention article without mentioning basic pay, but it’s also worth stressing that it’s not the be-all-and-end-all. That being said, if your employees feel like they’re under-valued, then they’re going to look to see if they can be better rewarded somewhere else.
Making sure your pay levels are accurate is an important part of business, and it’s vital for your employee retention. If other companies are offering significantly more for the same job, then you’re going to find it hard to retain staff.
Employee benefits are great ways to reward your staff with benefits that will make a difference in their lives. These might be small or big, but they can make a big difference to your employees and give them a greater incentive to stay with you.
Whether it’s subsidized lunches, free childcare, medical insurance, or something else, it’s something that you can offer over the competition, and that gives your employees a good reason to stay with you.
The difference between working in a happy, vibrant office and a miserable one is huge. If your employees enjoy coming into work every day, then it makes a massive difference.
There are lots of different ways in which you can help to improve the working environment. Ideas such as standing desks, adding more greenery to the workspace, and after-work drinks on a Friday are all ways to can build a team environment.
Find ideas that work for your office and start making it an enjoyable environment to work in.
Flexible/ Remote Working
People lead complicated lives and for many of us, those lives don’t fit perfectly with a 9 to 5 workday.
We have the technology to allow people to work flexible hours, and work remotely without losing efficiency, so allow people to benefit from it. Taking the daily commute out of someone’s life can be worth thousands of dollars to them and be a great reason for them to stay with your company.
Not only is remote work convenient for your employees, but many studies find remote workers are also more productive.
One thing that people often care more about than their income is their potential for career advancement. If your employees think they have the opportunity to achieve their career goals with your company, then it’s going to give them a big incentive to stay.
However, if your staff see that you’re constantly passing over internal employees to recruit from the outside, then they’re going to wonder if your business is the right place for them to achieve their goals.