Improve Your Employee Retention With These 3 Tips
There might not be such a thing as a “perfect” employee, but for companies that work toward establishing a superior workplace experience, employee retention numbers are high.
What any employer can tell you is that salary alone will not improve employee retention. While salary is important, it’s only one piece of a large puzzle. Organizations that focus on creating a motivational employee experience look at everything from their onboarding process to benefits to company culture and education opportunities.
The Importance of Perks
Your employees will be more satisfied if they are offered extra perks like great healthcare, a generous time-off policy and remote work opportunities. To know exactly what your employees want, simply ask them. Some of the most sought after perks include maternity and paternity leave, pension plans, a 401(k) plan, vacation/paid time off, professional development, gym membership and remote work opportunities. The return on investment is paid back many times over through worker productivity.
Happiness is not overrated, especially when it comes to retaining employees, because nobody flees a workplace faster than those who count themselves as unhappy. One of the biggest impacts on an employee’s happiness is a proper work/life balance.
Work-related stress can take its toll on a person’s mental and physical health. If the only way to get better is to remove themselves from the conflict, that’s what they will do. Organizations that offer generous comp time can help employees avoid burnout. Some have incorporated half days, typically on Friday during the summer months, so employees can get out and about for an extra day a week.
Let Them Grow
Today’s workforce is driven to get to the next stage in their career, and if you’ve got quality employees, you want them to grow and work up the ladder with you. If you’re not giving them development opportunities, they’re not going to grow and they’re probably going to find a company that will offer it to them.
Conferences, webinars, education courses and other opportunities for growth must be explored. Furthermore, when employees find growth opportunities of their own, they should be given the time to explore it and the company should consider compensating them for any costs involved.
Hire Good Management
Don’t let your management staff be the reason your employees leave. When managers communicate poorly with employees, retention rates will not be optimal. Managers need to be excellent listeners, empathetic and knowledgeable about how to interact with individuals.
A key part of giving managers more insight into how to communicate with individual employees is utilizing the Predictive Index. At PI Consulting Group, we’re one of only 210 Predictive Index consultancies in the United States. Our behavioral and cognitive assessments are scientifically validated and will help you with employee retention. Contact us and let’s discuss our methods.