Employee retention is one of the most important tasks to work on as a business owner. It can increase production as well as save you money and time. Here are some of the top reasons employees stay with the company and tips on how you can achieve them.
1. Culture, Team, Work Environment.
People are more likely to stay with a company when they are part of a team with a shared purpose or goal. This could mean they are part of a group of other employees or even with one person, the company’s boss. They need to feel important and valued. If the person feels like they play a unique role in achieving the company’s goals, they won’t want to let their boss or their team members down.
Make sure to incorporate team-building activities into your work schedule. Again, if you don’t have a large staff, that is fine. The point is to find an activity or even a lunch away from the office that allows you to connect with your employees and make sure they feel that their role is crucial in achieving the company goals.
2. Employees feel like their work has a purpose.
When people believe their job satisfies a specific purpose in achieving the company’s goals, they will be more likely to be happy with their work. You want people working for you who want to bring value to the team and not just get a paycheck.
Regularly update your employees on the company’s results from their work. If the results are not there, offer support to show them how they can improve.
3. Their work is recognized.
People need to feel that their work is being appreciated and acknowledged as significant. If they do not think their efforts are being recognized, they will find a place that does.
Send them emails stating how a particular project they worked on helped the company. Acknowledge them in your company newsletter or on your social media. You can never give enough accolades to good employees.
4. They respect their co-workers.
A sense of team belonging is a big reason people stay with companies. This requires employees to have mutual appreciation and respect. Feeling that you can trust and rely on your co-workers is crucial for workplace satisfaction.
As the leader, encourage teamwork and point out when you see the support your employees give each other. This is another way to show you value them as employees.
5. Provided mentorship.
Employees who are encouraged to learn and grow with the company tend to stay longer. Having a mentor to offer advice and guidance through learning new tasks or challenging times provides people with a sense of security. They don’t feel alone and know they have someone to go to if they need help.
Encourage employees to continuously learn through training programs from the beginning of their employment. Then they will feel from the start that they are valued and are wanted to stay and grow with the company.
6. They are treated fairly.
People will only stay with a company if they feel they are being treated fairly. This is reflected in the amount they earn, their benefits, and their workload. Employees talk with one another. If one is being treated differently, they are bound to find out. Then not only will that employee want to move on, but it also puts a sense of distrust in the leadership for the other employees. If it can happen to one employee, they will think it can easily happen to them.
Make sure no one on the team gets special treatment. Also, set up regular meetings with the employees to get their feedback on how they think things are going or any other concerns they may have. This will make them feel valued and ensure you have a good idea of how your workplace and its culture are operating.
