We talk a lot about hiring employees, but retaining great employees is just as crucial when it comes to the success and wellbeing of your business. The competition for hardworking, skilled employees is fierce, which is why you can’t afford to not have an effective employee retention strategy in place for your business. Here are some ways you can keep your employees:
Create A Positive Work Culture
You want your employees happy to come to work so having a positive work culture is important. By creating a healthy work environment, your employees are more likely to stay with you for the long run. According to research by Deloitte, a high percentage of employees believe that positive work culture is key to a business’s overall success. One way to do that is to create an inclusive work environment where all employees feel appreciated, supported and valued. Creating a positive workplace culture reduces stress levels, boosts morale, improves productivity, encourages teamwork and employee retention.
Offer Great Benefits & Compensation
Offer your employees a comprehensive benefits package with a competitive salary, as this will undeniably increase your chances of retaining your best employees in the workplace. Perks such as enhanced vacation and maternity, flexible working, health and dental insurance will attract and retain great employees. Be clear about your company’s pay structures, bonuses and rewards from the start. A well-compensated employee is far less likely to look for other opportunities elsewhere.
Encourage Professional Development
Ensure that your employees have fair opportunities to develop their skills, use their talents and excel within the workplace. If your best-performing employees feel stagnant in their career with you, they’ll have more incentive to look at alternative opportunities. Be intentional about talking to your employees and asking them the areas they want to develop in or any new areas of the business they want to be involved in. Everyone wants to learn and grow in their career in some way. Show your employees you are there to help them do that.
Putting these measures in place is protecting your hiring investment. Do not spend the time and energy to hire great people, but then become lazy and complacent about being intentional about keeping them. If you need help with your workplace retention, reach out to me so we can discuss some strategies.
Barbara Mason is a career consultant that brings over 20 years Human Resources experience and has been in senior level roles for Fortune 500 companies. She is the owner and CEO of Career Pathways Consulting and her passion is helping career professionals stay, flow, or go in their career.
To learn more about working with her, visit www.careerpathwaysconsulting.com.