Every business has employees who come and go. Maybe they’ve found new jobs, or they’re looking for different opportunities. It’ll be sad to see them go if they’re exceptional workers. However, with the right methods, you can increase employee retention and hold on to your favorite staff members longer.
Retention Starts Before They’re Hired
Whether this is the first or the 15th time you’re looking for new employees, you should always search for potential workers who fit into your company’s culture. Before you even begin to look at resumes, ensure you and your hiring managers clearly understand who your business is and what it stands for, Entrepreneur explained. Once you have that, search for employees who will fit that mold. Experience means nothing if the potential worker isn’t the right match.
You also can’t keep employees if they don’t plan on making the job permanent. To understand if candidates are looking at this position long term, study their job histories and find out what they care about, according to the CIO. Have they worked five jobs in as many years? Do they volunteer at an organization or participate in club sports regularly? Knowing this information will help you determine if they can stick with what they care about.
Keeping Your Employees With You
Just because you hired workers that fit in with your company’s culture doesn’t mean they’ll stay. You need to ensure you provide reasons for them to remain with you. According to a 2014 survey from CareerBuilder, 21% of full-time employees planned to switch jobs in the next year, a 17% increase since 2013. Job dissatisfaction and a lack of advancement opportunities topped the reasons at 58% and 45%, respectively.
To increase employee retention, you need to provide them great benefits and opportunities so they don’t even think to look elsewhere. Open lines of communication will aid you in various ways, Entrepreneur explained. Have regular meetings with employees to discuss their jobs, how their days are going, any suggestions they may have, and problems that have appeared. Also, use these meetings to talk about their career goals. If positions open up that you think they’ll be interested in, this will allow you to promote from within and increase job advancement.
According to the CIO, extra incentives and recognition, such as bonuses, trips, and awards, also show that they are valued. Workers feel appreciated by paid leave policies, flexible schedules, and educational programs.
Build a Team That Stays
Begin your employee retention program by deciding what you’re looking for in candidates during the hiring process. Once they’re part of our company, give them reasons to stay. While some benefits and opportunities may have to be worked into your financial plan, they will be worth it if it gets your top staff members to stay on.