If you want to reduce turnover (and it’s a sure thing you do!), you can start by looking at your wage scale and benefits package to make sure it’s competitive. Next, determine if you’re able to offer flexibility in scheduling. Then, consider tuition assistance, since that is a big plus for younger employees and a great recruiting tool to boot.
These three make up the basics of employee retention, but there are many other ways employers can create an environment that both encourages good people to want to work for your company and to want to stick around for the long haul.
Look at these five recommendations. Not only will they help you retain your top talent, but they will help put your business on a solid financial footing.
Respect Your Workers
Show your workers the respect they deserve. That means listening to them and acting on the ideas they share with you. Giving them feedback and praising their hard work shows you value them. Share your goals for the company with them and let them know how they fit into your plans for the future. People enjoy knowing their work will make a difference.
Involve Them in Company Decisions
You can’t allow your workers to participate in every company decision, but there are times when you can solicit their input, primarily when it affects their jobs or if you’re looking to make a drastic change in the direction of the business. You should include them in discussions about the company’s mission, values or goals. If you want them to feel as if they have ownership in your company, be sure to include them in your strategic planning activities.
Recognize and celebrate both individual and company-wide success. Acknowledge outstanding performance and set up a pay and bonus system that is linked to those accomplishments. You’ll motivate your top employees when you recognize and reward their above-average work.
Provide Opportunities for Growth
Personal and career growth is important to many of today’s workers. And if they don’t see opportunities for development where they are now, they will move on to more fertile ground. Show them the possibilities at your company by cross-training them and helping them build on their education, giving them greater responsibility and challenging them with demanding assignments. Your key employees will be excited about showing their full potential.
Help Them Balance Work and Life
Yes, it’s important your worker see his daughter’s softball game. And you can make that possible by allowing some flexibility in his hours. With many households having two working parents, there is always pressure on them to do the right thing by their kids. That could entail getting them to school in the morning or being available when they get home. The company that allows for a proper work-life balance will always have a high worker-retention rate.
You can reduce turnover by finding the right people!
Let us help you find them. Contact Pro Resources for the light industrial or technical/professional help you need. We’ve been in business for over 30 years, so we will use our expertise to help you find your next top-notch worker.