Improving employee retention is vital for your business because you can keep the right talents, which helps in the continuous growth of your company. On the other hand, a high employee turnover has a significant toll on the business. It has several adverse effects such as the following:
- Spending more time and money in hiring and training
- Not having experts if they leave soon
- Lower productivity when looking for new employees
- Negative reputation that can turn off the suitable candidates
You can do something to make employees feel satisfied and want to stay with your company. Here are ways on how to turn your people into loyal staff and improve your employee retention.
Hire the right people
The time spent on the hiring and training process can be wasted if you choose the wrong people. Be sure to explain their duties and responsibilities clearly, what you expect from them, and the company culture. Candidates can decide from the get go if the job and company are for them or not. Determine their skills and experience to see what position best fits them. Do a background check, interview previous employers to know their attitude, and learn about their history. One that stays in a company for a short period and jumps on another is a red flag. It’s not a good sign if you are looking for someone to stay with the company for a long period.
Make the work environment fun
A stressful workplace is one of the reasons why employees quit work. Their peace of mind and happiness are more important than what they earn. Let the staff know that gossiping about another employee or bullying has serious consequences. Strengthen teamwork by having regular team building activities. Celebrate special events and ensure that employees enjoy them. For example, you may celebrate the company anniversary or an employees appreciation celebration with a funfair theme. You will find a funfair stall for hire company that has all the equipment, rides, and games that you can think of in a funfair. Everyone has a child in them so that they will enjoy the event without a doubt. These fun moments will have a special part in their hearts, and they will look forward to them, thus making them want to stay in the company.
Recognise their hard work
Employees are happy when they know that their dedication and hard work is recognised. They will do more than you ask for or expect from them if they know you value them – reward employees for their excellent performance and commitment. A day off, trip to the cinema, relaxing spa day, and gift certificates are all great ideas for rewards. Sometimes, a pat on the back and saying it was a job well done is enough to make them feel valuable.
Give them room for growth
Besides a competitive salary, employees also look for growth. Provide continuous training to increase their knowledge and skills. Hire internally, and give employees a chance to move to a higher position. Provide training or support in other areas outside work, like sports or arts, so they can also grow in those areas.
Having loyal and happy employees will improve your retention in the company. They will also make it a point to do their job with excellence in mind if they know that they are valued.
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