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5 Successful Employee Retention Strategies

By Michael Heller Employee Retention, Management

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We all know the classic, inseparable duos. The pairs you can’t even fathom breaking up. The ones that practically need each other to survive. Sonny and Cher. Peanut butter and jelly. Batman and Robin. Oreos and milk. The truth is your business and your employees are one such inseparable duo.

The success of your business depends on your employees each and every day. These individuals go above and beyond – from reaching out to a new client for the first time to making sure your big clients are happy day in and day out. Needless to say, your employees are the heart and soul of your business. But often we see great employees leave their organizations, so how do you keep this duo from splitting up?

Do you have amazing employees you never want to lose? You need these 5 employee #retention tips now! Click To Tweet

Start by putting yourself in their shoes and design an employee retention strategy that will have them coming to work early, staying late and wishing they were allowed to be there on the weekends. That may have gone just a bit too far…but the point is there: make them want to stay. Design a retention strategy that will make them excited to come into work (and keep them from checking out another company on the sly).

Lucky for you, we have a few ideas on how you can do just that.

Invest In Your Employees

Employees are constantly craving growth. Invest in your employees’ personal and professional development to show them that you recognize this need. Whether it’s assigning a project a step above their wheelhouse or a well-deserved promotion, your employees will appreciate the sentiment when you put time into their advancement. A mind-boggling 70+% of employees left their most recent organization in order to advance their careers. Retain your hard-working employees and show them the way to advance internally.

over a third of employees would leave a company if they didn't feel appreciated by management

Encourage Open Communication

Do you wonder what your employees are thinking? Here’s a crazy thought…you could, oh I don’t know, ask them. Keep the communication style of your office open. When employees are allowed to provide feedback, have a discussion and share ideas, the results can be phenomenal. Afterall, who knows how to make the job more efficient and produce higher numbers than those actually doing it? Besides process improvement, open communication offers other great benefits like easy clarification, fast information sharing and closer working relationships.

 

The Engagement of the Century

Employee engagement and employee retention go hand in hand. Rumor has it that they’ve even been seen skipping into the sunset together. That’s how married this pair is. With only 16% of employees feeling truly engaged to their business, it is important that you have the engagement of the century. Make your employees feel more connected to the company by having a company lunch, taking a break to play a game or heading to a happy hour after work. The more you are able to connect your employees with their coworkers and the company, the less likely they will be to search for a new job.

R-E-S-P-E-C-T

Over ⅓ of employees would leave if they didn’t feel appreciated by their upper management, so show your employees the respect they desire for all that they do for the company. A huge bonus to this employee retention tip – being appreciative barely takes time out of your day. It’s as simple as saying “thanks for taking on this project,” or replying to an email with “great work on this project.” Find out what it means to them when you reach out with a little bit of recognition.

What does peanut butter and jelly have in common with your business and employees? They’re both impeccable duos that need one another. @Engagiant_iRevu can help keep it that way: Click To Tweet

Benefits Beyond the Paycheck

In a 2017 Employee Benefits study, 57% of individuals put serious consideration into benefits before taking a job. Of course, potential employees expect a competitive salary, an option to purchase medical insurance and some type of PTO policy. So, what are you missing? Paid paternity leave, unlimited time off and even dog-friendly workplaces are benefits that have become more apparent as of late. We understand that those are so unlikely to happen in most companies, however, there are cost-effective ways to benefit your employees beyond the paycheck! For instance, free coffee and a small supply of snacks are a huge perk! Plus, these items keep your employees awake and working. Nothing goes unnoticed when it comes to a benefits package.

57% of individuals put serious consideration into benefits before taking a job

If you’re the brain of your business, your employees are the heart and soul. You need them to live and you need them to thrive. Keep your business at full strength by putting a few of these tips to use and creating an employee retention strategy so worthwhile that your employees will be begging for an allnighter in the office. In no time, we will see your company and your employees on that list of classic inseparable duos, too.

Michael Heller

Posted By Michael Heller

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