3 Tips for Improving Employee Retention
When you hire employees, especially for higher-level positions, you are hiring them because you truly believe that they can make a positive impact. Everything that goes into the process of recruiting, hiring, and onboarding requires resources. Even companies that rely on seasonal employees do their best to streamline the process to avoid high turnover. Here are three tips to consider for improving employee retention.
The best candidates for any position will often receive more than one employment offer, so it is up to you offer an attractive salary complete with competitive benefits. Examples of competitive perks include bonuses, free food, and personal days in addition to health, dental and vision benefits. These added perks are important because an employee is looking out for their well-being. If they are supporting a family, they have to justify their time spent away from them. Your goal is to offer a complete package that meets employees lifestyle needs, which doesn’t have to be the most expensive or lucrative.
Create an Employee-Centric Culture
Activities like wellness challenges show employees that they are valued by the company because it shows that the company is willing to put time and energy into helping them improve their health and well-being. Helping each person feel like a valuable employee is worthwhile because it creates a beneficial give-and-take relationship. You might consider adopting elements of kaizen, a Japanese philosophy of continuous improvement that involves employees at all levels. Through teamwork, quality circles, and personal discipline, your team is encouraged to make suggestions for improvement without fear of negative repercussions. The goal is to improve morale and business operations. Then, you can add wellness initiatives to help your team stay physically and mentally fit, like on-site meditation classes, comfortable break rooms, and healthy catered lunches.
Hire Selectively from the Beginning
Before you begin speaking with potential candidates, you should have a clear idea of your company’s culture and values. After all, company values are crucial to attracting the best employees, especially the Millennial and Gen Z generations, who make up an increasing amount of the workforce. You should hire new team members based on the likelihood that they will succeed and fit into the workplace culture. Hiring selectively from the beginning improves employee retention because they understand and accept the environment they are entering.
Onboarding a team of the best people to help you grow your company is a tricky task. Once you have assembled the best team, retention is the next step. There are several ways to improve retention, including offering competitive benefits. Hiring selectively also helps.
Not sure where to start with assembling and retaining the best employees? Haley Lynn Gray offers business consultation that could guide you through the process.