How to improve Employee Retention?

The most crucial component for a business to run successfully is recruiting its employees. You may have a brilliant idea for your business, but you cannot execute it alone. You need employees to work for your idea who can put their skills and hard work in building your company. An employee plays the most significant role. From the cleaning staff to the head of the company, every single employee is responsible for the success of your brand and therefore it is necessary to retain your employees.

According to research by Willis Towers Watson, more than one-quarter of employees are in high retention risk category implying that more than one-quarter of employees can leave the job for various reasons. This study says that the employees who fall in the high-retention risk category want to leave because

#1. The Relationship With The Boss

A boss is a leader who has the most responsibilities in a workplace. The boss assigns duties to each staff and employee and has to work with each person individually. The relationship with the boss is usually formal. If the relationship with the boss turns toxic, then it becomes impossible for the employee to work any longer. The employee may lose the motivation to work with the boss.

#2. Boring Work

If the employee feels bored with the work, then there are chances that they may leave. Every person needs challenges in life to get some motivation to work ahead and find what their passion is. Working without satisfaction is futile and thus the employees want to leave the work when they do not find anything challenging.

#3. Lack Of Opportunities

We all find the jobs where we think we will have the opportunity to grow personally as well as financially. But when we do not get the kind of work that suits our abilities, we become unsatisfied. We need to make full utilization of our skills so that we can brush them up to succeed in life. So, when an employee does not see any chance of development in their workplace, they resign. 

#4. Environment

The corporate environment also decides if an employee will stay there or not and for how long. If the environment is uncomforting and intolerable, then the employee will run away. The environment is not accepting and warm for the employee’s ideas than the employee will feel disrespected and hence s/he will leave.

#5. No Rewards

When an employee put all his hard work into the company’s goals, then the employee wants to get recognized. An employee works for years with loyalty for the company, but when the company does not give the employee the deserved rewards, then the employee will want to leave.

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What do you think are the reasons employees leave work? In order to overcome these factors, the employers can use certain strategies that we are going to discuss here to retain their employees and make the best use of their assets.

#1. The Right Environment

Create an environment that allows the employees to feel free and welcomed. The employees should feel that are at the right place. Security is an important factor that will make your employees stay longer in your company. Give your employees a good feedback about their work and if you feel that they are not working up to their full potential then motivate them by praising their skills. Support your employees and promote the idea of harmony and compassion among each other so that when you are not available, then the other people who are in charge can help the person in need.

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#2. Open To Suggestions

Every employer must be open to the feedback they receive from their employees because it would make them feel that they are being listened to. If any employee has any issues in their office, then that issue should be solved. Take feedback from your employees and follow up on the issues written in them. Talk to your employees and get to know about their needs. Always be available for them whenever they need your support. An honest feedback from your employees will prove to be precious for your company. A boss has a lot of others which is understandable so appoint a counselor in your office who would heed to the emotional issues that your employee may be going through.

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#3. Activities

You cannot change the matter of the work, but you can make your employees’ work more fun. Your employees will happily work if their hearts and mind stay in work. You can make your employees organize fun activities which will make their work interesting, and it will also release their stress. Set weekly goals for the employees or targets that they should achieve. This will make the work a challenge and the employees will have the motivation to work in your company.

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#4. Cordial Relationships

The relationship between an employee and the employer determines the performance of the employee, the team and the company as a whole. It is very necessary that you maintain a cordial and supporting relationship with your employees. You cannot become their friends, but you can maintain a healthy official relationship. Make your employees feel comfortable around you. They should not be scared of you rather they should respect you for your hard work and commitment for the company. You can participate in some fun activities with your employees that we talked about in the point above. When you participate in them, you will get an opportunity to know your employees better.

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#5. Recognize

Providing your employees with rewards of their hard work is the key. If you want your employees to enjoy working in your company with their sweat and soul, then you need to appreciate their work as well. If you congratulate your employees personally, then their morale will be up, and they will feel recognized in the company. Give your employees bonuses and incentives from time to time. This will work as a motivator for them to work more.

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#6. Offer Them Opportunities

Your employees work in your office because they think it will be great for their career ahead. If you do not want them to leave your company, you will have to give them opportunities. Invite projects which will hone the employee’s skills. Send your employees to training camps where they will learn new skills which will benefit you indirectly. If your employees start working efficiently, then your company will get profits and the employee will be satisfied with having learned something new, something they wanted to do. The employee will then appreciate the company for taking a step towards generating new opportunities for them and they would want to stay longer in your company. Inform your employees about the opportunities they can have in the company itself if they excel in their work. Give them offers they cannot reject.

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#7. Empower

Coach your employees towards their rights as employees and as an individual. Inform your employees about their rights in the company and the actions they can take if they find something wrong happening to themselves or others around them. When your employees will see that the company cares about the rights of its employees, then they will feel secure and empowered. The employees will be assured that the company will not exploit them. It will also show that the company follows transparency.

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#8. Benefits

Benefits like health insurance, life insurance, retirement plans, extra leaves, a flexibility of working hours and other allowances can attract the employees to stay in the company. When the employees will enjoy such benefits they will work positively for the company. Announce small parties at the workplace every last working day of the week. Perhaps you could arrange for a free lunch on some specific days for the employees. If the employees are happy, they will not leave their job.

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#9. The Goal

Remind the employees about the goals of the company from time to time. It is very important for the employees to know the basic idea and the long-term goal that the company holds. As the employees will know the goals, they will know how to work towards achieving them. Also, when you remind the employees about the idea of the business, then you will be reminding yourself too that you have to achieve a lot more in less time. You can arrange for presentations to showcase the company ideas and plans to all the employees at once. It will clear your mind and your employees’ mind about all the process of work that is being taken up to build the company a name.

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#10. What Do You Expect?

It is important that you clear the vision of the company and inform your employees about the expectations you have from them. Let your employees know what kind of work is needed from them and that if they work hard, they will definitely be appreciated. When the employees will be aware of the kind of work they need to do when they prepare themselves for it. There will be fewer mistakes and damages in the company.

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Share your ideas and views about how to improve employees retention with us through the comments section below.

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