It is estimated that 4.53 million Americans have quit their jobs as an indirect consequence of the global pandemic. As many people swapped their roles in pursuit of personal passions, companies were left with a huge staff shortage. So how do you manage to retain your workforce?
While you can’t save everyone, there are several things you can do to keep people working for you. Read on as we give our essential employee retention tips.
1) Optimize Your Benefits
After an attractive salary, employee benefits are the second most enticing proposition. However, this does not just mean adding the same benefits to every hire. For example, the needs of someone with a family will be different from that of a single college graduate.
Your package does not just have to be monetary either. Some of the smallest most thoughtful benefits will go a long way to helping employee retention.
2) Allow Flexible Schedules
Working nine to five is the reason many people are leaving the rat race. By introducing flexible schedules, you are empowering people to work when they are most productive. As long as you outline how this works with your company so there is no miscommunication, it can seriously improve employee retention.
You should also be flexible about where they work. With many companies now having a remote hybrid method, your organization may seem archaic if it wants everyone in the office at all times.
3) Improve Onboarding and Orientation
Welcoming someone to your organization correctly is one of the best employee retention incentives you can give. Use onboarding to teach them about the job and the culture of the company. Doing this allows them to feel part of something greater.
Make sure your onboarding process is followed up on, so people don’t lose their way. Designate a 30 or 60-day point and make it just as important as the first day. New starters will know that you have not forgotten about them.
Don’t forget that you may be eligible for employee retention credit. This applies to people who have managed to keep staff retained throughout the pandemic. Apply for the ERC by following this link.
4) Offer Training and Development
You don’t want people to stagnate when they come to work for you. Doing the same job without any progress or change can cause people to look elsewhere. That is why providing training and development are one of the most effective employee retention strategies.
Technology changes so quickly that you will often have to keep training individuals regardless. Don’t miss out on people who work in others sectors either. You can do in-house training, send them on courses, or sign them up with online education programs.
All of this should feed into a robust feedback program. Make sure you are giving people appraisals on their performance and listening to their queries.
Employee Retention Tips
Now you know these employee retention tips, check to see which you already have in place. It may be possible to improve them and make them more attractive. If you don’t have any, start with your onboarding process.
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