Best Employee Retention Strategies

In the month of October last year, more than 2 ¼ million employees made the profound decision to quit their jobs, which is the highest tally since the year 2010. This has made many employees seemingly wonder with a lot of anxiety whether their staff will be the next to sing Johnny Paycheck’s famous tune ‘take this job and shove it!’

With decreased quit rates over the past few years, managers could afford to be poor at their jobs. But with the economy steadily improving, this trend can only prove to be their biggest undoing.

This makes us deeply appreciate Warren Buffet’s momentous retort, “You can only know who is skinny-dipping when the tide ebbs off.” As it is, you will only be able to realize just which of your managers are frustrating your employees when job opportunities outside your company become tempting. Here then are some of the most failsafe employee retention strategies you should employ to avoid this.

Make it a point to keep track of your company’s employment retention

If you fail to measure your retention strategies, they will certainly never improve. So, take the necessary time to formulate realistic and quantifiable metrics to assist you in this task. Should you be unsure which of your line managers are doing an excellent job and those who aren’t, you will never figure out who needs coaching. Also, not fully understanding just where you stand in terms of your niche industry, might probably, and rightly so, infer that you are the worst performer in employee retention programs in it.

Train first rate supervisors

Having good supervisors is one of the critical keys to the effective retention plan you should adopt. No pun intended, but employees don’t run away from jobs, rather they almost always run away from managers. Some excellent examples of employee retention definition best practices is having supervisors who hold regular meetings with their subordinates. All of which should naturally dwell on the latter’s overall performance and the exact expectations you have outlined for them.

Always employ the right workers from the start

Hiring the right employees at the start is one of the best instances of ideal staff retention strategies in existence. Quite a large number of job interviews conducted today are based on personality; that is if a candidate suits the manager’s personality. Instead, always make sure your HR manager focuses on skills, and you will obtain the best employees for the job. As is often the case, this can lead to securing workers that will have a long tenure with you.

Provide opportunities for your staff to obtain better pay, recognition and influential responsibilities

It is very important to note that that not all your employees have what it takes to make it to C.E.O. However, all of them can still be in a position of developing and honing useful skills in the roles they assume. One of the best retention techniques you could ever employ is finding the means to appropriately recognizing all your workers skills. Even better, make it a point to motivate them to acquire more, newer and better professional skills.

Doing this will have a double effect. First of all, your employees will become much more better at what they do and advance in their respective careers. Secondly, it will also give them professional pride as a sense of accomplishment, fulfillment and success.

Improve the flexibility your company’s workplace conditions

Overly rigid workplace conditions have a great potential of driving away good employees. To this end, whenever you can do so, try to accommodate the ‘non-work’ attitudes as well as desires of your employees into their professional schedule.

Reanalyze your company’s employees benefits package

Finally, an excellent benefits package will allow you to fully anticipate the needs of those employees that you wish to keep in your retention programs you have incepted for your firm. More often than not, many senior managers tend to be overly preoccupied with what is important to them.

Rather than what is important to those talented and skilled workers who may be seriously nursing ideas of changing jobs in search of greener pastures. Ensure this is not the case in your company, and introduce attractive benefits packages for your most valuable employees.

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