Did you know that it’s more cost-effective for companies to retain old employees rather than hire new ones? But the modern environment is such that employees are eager to move companies especially if they receive additional benefits from changing jobs. If you are having a hard time getting great employees to stick around, then this guide is for you. Keep reading!
1. Allow Work from Home (WFH)
Flexibility is something all employees seek when searching for a new employer. This is even more true for the new generations of Millennials and Gen Xers.
Allowing your employees to work from home is a great way to give greater autonomy and freedom to your employees. If you are worried about how to monitor employee productivity when they are working from home, view here for more on that.
2. Don’t Micromanage Your Employees
It’s important to show your employees that you trust them. No adult wants to be treated like they are still in kindergarten having their breaks and lunches monitored with an eagle eye. It’s all about letting go of the reins and trusting that great employees will want to do good work. That’s how you keep good employees for a long time to come.
3. Build a Great Company Culture
What kind of company culture do you have in place right now? If you aren’t sure, that’s something you need to work upon immediately. It’s not hard to create a great company culture, but it does require some focused effort from both the HR team and management. Make it a priority and it will reward you a thousand times over as you can keep good employees.
4. Have Systems in Place for Rewarding Employees
Good employees want to be recognized for their efforts. It’s not about overdoing it, of course. But when someone does a good job in the company, you need to have a system in place so any employee can submit a request for that employee to be recognized.
Many companies allow employees to directly gift other employees when they feel they have gone over and beyond their line of duty. This culture of recognition and reward builds loyalty and trust in your employees and helps you keep good employees.
5. Start by Putting People in the Right Teams
Most companies, unfortunately, end up putting people in teams just because of their qualifications or certifications. But building great teams and thus, great company culture is all about getting the right people working together.
There are many ways to do it. You could use personality tests or other measures to see what kind of people would work best together. Or you could use feedback from your employees.
Don’t Lose Any More Great Employees
If you are sick and tired of losing great employees to other companies, start applying the tips laid out above right now. There’s no time to waste. Putting all these tips into place takes time and effort. The sooner you start, the faster you can minimize employee turnover.
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