In order to keep costs to a minimum and lower employee turnover, employee retention is vital. Retention should be a point of focus in business, as these employees will have an understanding for the company, as well as the valued experience they will have learnt.
There are a number of reasons as to why employees leave their jobs in the first place. These include a poor salary and receiving few benefits. Rewarding employees appropriately is an important way of boosting levels of motivation in the workplace. Read our recent blog post on this here.
Furthermore, employees may wish to leave a company due to a lack of training, bad management and a time consuming or stressful commute.
In some cases, there is no persuading an employee to stay, especially if it is determined by an external factor, such as location. However, there are many steps a business can take to improve retention.
Firstly, appraisals are key. Everyone enjoys being uplifted, complimented and recognised for their hard graft. Finding a reward system that works for your business and employees is advisable. Including fair pay and the opportunity to receive good benefits are also reasons a member of staff is likely to stay.
Occasionally, an employee may hand in their notice due to an issue not being resolved in a fair way. When any issue arises, having an effective means for dealing with this will reduce tension. This is an area we can help you with, please get in touch today.
When a new recruit is welcomed to a team, having a relevant and up to date contract for them is an important factor. This allows the employee to understand their responsibilities beforehand, which can help with their employment decision, as they will know what is expected of them.
Staying with a company for the long term is not just about commitment, but also the opportunities in place to develop and acquire new skills. Providing adequate growth and development training will improve the talents of the existing team and is a great investment.
Taking a different approach and focusing on soft skills is also desirable in today’s market. These include helping employees improve their time management, leadership and communication skills, all foundations to a good employee in a successful business.
A combination of the above should encourage employees to stay on board, especially when there are strong relationships within the team. When looking at cutting costs, avoiding unnecessary recruitment is extremely helpful.
For any further advice on this topic, please contact us today.