As many of our clients gear up for their peak production periods, it is important to consider the costs and importance of employee retention. Employees play a large part, crucial part within the infrastructure of a company, and without them a company would face great challenges in attaining efficiency, growth and success. Retaining focused, effective and good-quality employees is crucial in business.
Human Resources professionals currently use competitive pay and competitive benefits, such as vacation, healthcare and tuition reimbursement, as strategic tactics in an attempt to retain quality employees within their company. In addition to these approaches, the below methods can be valuable in retaining quality employees for your company.
- Selecting quality employees from the start. Without quality hires, there will be no quality employees within your company’s associates. This gives you nowhere to begin in your retention process.
- Make your company’s environment affable. Your employees will be disinterested in staying with your company if they do not enjoy where they work.
- Praise hard work along with employees’ efforts. Offer employees feedback and compensation for diligence and focus within their work.
- Offer employees opportunities to be involved in decisions that affect the company and in decision that directly affect their position. Whenever possible, make your employees feel involved in the processes of your business. This can lead also lead to greater team unity.
- Insure that all areas of your business are adequately staffed. Making sure that all portions of a team are covered will decrease mandatory overtime hours for those employees who do not wish to work extra hours. However, offer optional overtime for those employees that do wish to take advantage of overtime.
- Provide opportunities for career progression within your company. Quality employees have a greater desire to progress within their career and feel more secure when opportunities for career movement and further education are presented to them.
- Establish a sound communication plan for you and your employees. Communication allows you to convey to your employees the responsibilities, roles and goals you are expecting of them. It also allows for employees to come to you when they have questions or concerns.
Implementing these methods within your current business practices can help you put your employees, a big part of your company, first and further help you avoid retention loss down the road.