When a number of employees walk out the door, it can put the strength of your company – and its bottom line – at risk. The good news? You can work to prevent high turnover by focusing on employee retention. Here are four ways to retain your star performers and cut down on revolving door jobs.
How Can You Improve Employee Retention?
#1: Offer Continuous Learning and Mentoring
When employees are able to gain new skills and grow their careers, they’re more likely to remain with your company. As they learn and grow, they can climb the career ladder from within. This lowers the turnover your company is experiencing and also sends the message that you value your employees and are willing to invest in them.
#2: Evaluate Compensation Packages
It’s a good idea to regularly review your compensation packages and make sure they are competitive. If they’re not, it could lead to a higher-than-average turnover rate. Check out what your competitors are offering and what’s fair for your specific industry and the local job market. If you can, offer a little but more to retain top employees. Don’t forget about ways to enhance your benefits, like health insurance and retirement plans.
#3. Focus on Wellness and Work-Life Balance
Healthy, happy employees are going to work harder for you and keep your customers on track. So invest in employee wellness, such as by providing free gym memberships, keeping the break room stocked with nutritious snacks, offering financing planning help, and encouraging your employees to take breaks and vacations.
Also, if you can allow employees to work flexibly, remotely or on a hybrid schedule, do it. They will be more likely to stay at your company when they have a healthy work-life balance and can do their jobs in the way that works best for them.
#4: Offer and Ask For Feedback
Meet with each team member regularly for casual conversations about workloads, challenges, issues, and to get and give feedback. Find out ways you can support them, so they stay on track toward career goals. Asking your employees for feedback will also help you head off problems before they escalate.
Need Professional Help Hiring?
Trust the go-to staffing agency in Orlando, FL. We help companies like yours find and hire the best talent and retain them, so you can build a smart, solid, successful team. Ready to get started? Contact our recruitment today.
