Every business has employees come and go. Maybe they've found new jobs or they're looking for different opportunities. If they're exceptional workers, it'll be sad to see them go. However, with the right methods, you'll be able to 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 be searching for potential workers who will fit into your company's culture. Before you even begin to look at resumes, make sure you and your hiring managers have a clear understanding of who your business is and what it stands for, Entrepreneur explained. Once you have that, search for employees who will fit into 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 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 the things they care about.
Keeping your employees with you
Just because you hired workers that fit in with your company's culture doesn't mean that they'll stay. You need to ensure you provide reasons for them to remain with you. According to a 2014 survey from CareerBuilder, 21 percent of full-time employees planned to switch jobs in the next year, a 17 percent increase since 2013. Job dissatisfaction and a lack of advancement opportunities topped the reasons at 58 percent and 45 percent, respectively.
To increase employee retention, you need to be able to provide them with 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.
Extra incentives and recognition, such as bonuses, trips and awards, also show that they are valued, according to CIO. Paid leave policies, flexible schedules and educational programs allow your workers to feel appreciated.
Begin your employee retention program during the hiring process by deciding what you're looking for in candidates. 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.