No matter how good your business’ products or services are, it won’t matter if you aren’t able to keep your employees. High turnover can be deadly to a business, as it can be expensive to consistently replace all those employees. Plus, it can reflect very poorly on you to be operating a business that no one wants to stay at. These six tips will help you with improving employee retention.
People aren’t going to want to continue working at a place that seems clueless about management. It isn’t up to them to read your mind. You have to be able to offer direction that clearly spells out what is expected of them. On a weekly, daily, and monthly basis, they should know their roles and what you want to be accomplished. While you can’t hold their hands every step of the way, you can definitely give them confidence. This is confidence in your ability to lead them and confidence in their ability to follow your directions.
You might think that paying lower wages is a good way to save money, but it’s an easy way for people to not want to stick around. When you skimp on wages, you give your employees a reason to look for other work. It’s very possible that you can afford them more you think you can. Take a hard look at your expenses and see what could be cut in order to pay your employees more. If you have to ask for a slight pay cut, so be it. Your employees will have much greater admiration for you after demonstrating how much you value them.
You need to be doing as much research as possible to help improve employee retention. If you notice that employees tend to quit around a certain time of year or after a certain number of weeks, you can make more assured decisions regarding improving employee retention. Software such as BPM software for your business processes or a Netsuite alternative for accounting can be crucial in giving you a more thorough idea of keeping your business operations in check. You don’t want to be just making uneducated guesses about your business and its future.
Your employees should be treated with dignity and cordiality. It should go without saying, but too many businesses are so caught up in profits that they forget about the human element with their walls. You want your employees to know that you care about them. You can have employee appreciation days, company outings, or just give them sincere compliments on a consistent basis. Employee retention starts with employees feeling like their workplace is a welcoming environment for them.
Today’s employees are looking for more than just a decent wage. They also need benefits, such as medical insurance, to help them feel positive about their work environment. You should be looking into the most thorough health plans possible. Should your employees face any ailments, they can feel relieved to know they have an employee who cares about them.
If you are giving your employees far too many demands, they’re not going to want to stick around. You should let them work at their own pace and only intervene if absolutely necessary. Remember that they are likely trying as hard as they can and need encouragement, not reprimanding. You want to bring out the best in people and help them gain further confidence in themselves.
By following these tips, you can greatly improve your chances that employees will want to stay for the long haul. It’s not about tricking them into staying. Instead, it’s all about showing that you value them as employees and all that they do for you. A business can’t run without employees, and this will help keep your employees around.
Author Bio: Jeremy is a tech and business writer from Simi Valley, CA. He’s worked for Adobe, Google, and himself. He lives for success stories, and hopes to be one someday.