What’s your employee retention strategy?
Retaining your best talent is becoming harder, and if you don’t work hard to keep on top of your best talent, they may start looking elsewhere for other opportunities. An infographic from Ajilon shows you how creating a winning employee retention strategy will be beneficial to you and your business – from conducting employee surveys to getting your employees engaged with things that matter about the business.
Salary is obviously an important factor that matters to each and every one of your employees but that only contributes to part of the reason why your employees will choose to stay at your business. Stepping up your game and offering as many opportunities to your employees as possible will help to keep them happy & convince them to stay with you.
Looking beyond the salary, what else matters to your employees? What are the opportunities available to them? Offering room for growth and making sure their voices are heard is quintessential to retaining your top talent.
According to the infographic, it seems that more than half of the top HR professionals consider retention to be one of their biggest priorities yet only 19% of those have a formal retention strategy in place. Businesses need to be able to identify the biggest factors that can affect your employees’ mood and work ethic and be able to take the appropriate action to correct these.
One idea is to perform regular performance reviews with your staff. Here, both employee and employer get to see how the other feels and has the opportunity for a heads-on approach to deal with any issues or worries they might have. High performers could be promoted or receive bonuses of some kind and any employees who feel they are struggling and could do with some extra time and effort could have some individual coaching to help improve their performance.
Another idea is to make sure that any benefits that come with working at your company actually tailor to your employees’ needs and are things they actually want and benefit from. Everybody loves a free meal, right? What about the options for flexitime or having the opportunity to work remotely from home sometimes?
Getting your employees engaged and interested in the business will always be beneficial. Not only will they know where the business stands, they will also be able to see their place in the company clearer and realise how much their hard work helps the company.
It’s important to keep on top of things, so if you’re nearing 100 employees in your company it is always worth considering hiring a HR director. They will be able to be entrusted and responsible for employee well-being and will have more time and opportunity to streamline out a proper and throughout retention structure.
You always want to be striving for employee satisfaction and job security, so make sure you are prioritising their needs and worries before it’s too late.