There are numerous reasons your employees are leaving your company. According to Alan Safahi Orinda, a professional entrepreneur, inadequate salary, uncompetitive perks, benefits package, limited career advancement, and lack of recognition are the primary reasons a company has lower retention rates.
Safahi says effective employee retention saves your company from productivity losses. It employs more engaged workers who work diligently and dedicatedly to improve your business’s bottom line. So, how do you improve your employees’ retention rates? Today’s article will answer this question based on Safahi’s recommendations. Read on!
1. Hire the Right Talent
Hiring the right candidate for a particular position eliminates the need to search for additional professionals. Employees who are a good fit for your company develop their skills and improve their performance in your organization.
According to Alan Safahi, recruiters and hiring managers ensure that the job description and company culture are clear to facilitate the onboarding process. Only when employees are satisfied and enthusiastic will you be able to retain them.
Encourage and actively listen to employee feedback, provide ongoing training, and build a mentoring culture to increase employee retention rates. Safahi says retaining employees is more significant than hiring them.
Candidate loyalty is one of the most desirable traits for employers to have productive and skilled employees. Therefore, you must create a solid strategy and thoroughly analyze the situation from time to time to achieve your goals.
2. Focus on Employees Training
As part of an ongoing performance evaluation, you can help employees identify areas for professional development, such as the need to learn new skills. Employee development is critical today as technology continues changing the work.
Safahi says skills development is the acquisition of new competencies and capabilities in response to changing business needs. Make it a priority to invest in your employees’ professional development. Provide time to attend virtual conferences, compensate for the cost of training, or pay for continuing education.
3. Improve Communication
The transition to hybrid and remote work has highlighted the importance of good communication in the workplace. Your direct reports need to feel they can come to you anytime with ideas, questions, or concerns, whether local or remote.
As a boss, you need to make sure that you are contributing to the development of timely, constructive, and positive communication throughout the team. Keep in contact with each team member to monitor their workload and satisfaction levels.
If the team is disorganized, engagement will not increase. Without attention, the workplace looks boring. Therefore, team-building activities are essential to improve team cohesion.
Safahi says suitable team-building activities include holding unofficial social events, conducting systematic brainstorming sessions, explaining roles, and creating a good work culture that eliminates micromanagement.
4. Implement a Reward System
Rewarding and recognizing employees can increase employee engagement, improve retention, and create a more positive workplace atmosphere. Implementing a reward and recognition program can lead to increased employee engagement, which can benefit your company, including increased productivity and staff retention.
Create an effective management system based on implementing strategies and policies to reward all employees in a company fairly and consistently. Rewarding employees for good work makes them feel valued, increases motivation and increases business productivity and success.
According to Alan Safahi Orinda, founder of a San Francisco-based company, reward systems motivate employees to achieve goals and organizational objectives in exchange for rewards.
While reward systems are a great way to encourage employees, you can also motivate them by proving themselves to the organization. In addition, reward systems reduce absenteeism in an organization.
5. Ensure Flexible Work Arrangements
A flexible system is an arrangement or schedule separate from the traditional work day and hours. Employees can choose a different work schedule to meet their personal or family needs. Alternatively, employers can initiate various plans to meet the needs of their customers.
A flextime system allows employees to negotiate a less rigid work schedule to improve their work/life balance and overall contribution to the company. A flextime system changes the terms and conditions of an employee’s employment.
It allows for a better work-life balance and provides other rights and protections for employees to streamline their personal and work-related tasks. The purpose is to improve employee retention rates and achieve success. You can consider:
Final Words
Employee retention is daunting, frustrating, and time-consuming. It requires you to make substantial efforts and create solid strategies focusing on the above factors. In addition, you must emphasize your organization’s culture, acknowledgment at the workplace, and provide your employees with benefits. An optimal workplace environment, ongoing training, and aligning mission, vision, and values with training and development can lead to success. Follow these five strategies to achieve your goals.
Originally Posted: https://alansafahiorindaca.wordpress.com/2022/09/09/how-to-improve-employee-retention/
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