3 Inexpensive Ways to Retain Employees and Prevent Costly Turnovers
Finding ways to improve employee retention is increasingly important in a time where job turnover is high, and a large amount of the workforce is beginning to retire.
When talking about employee retention, things like competitive pay and benefits often spring to mind, but there are more ways to improve employee retention, many of which won’t break your budget.
Show some appreciation
Everyone wants to feel appreciated, especially in the workplace. It is common for supervisors to get into a pattern of negativity that focuses too strongly on what needs to be improved and not enough on what an employee is doing correctly. Making positive connections with employees can be as simple as personally acknowledging a job well done, either in private or in front of others. Show your appreciation often: It doesn’t cost anything to say’ “thank you.”
Offering tangible rewards or incentives for specific achievements can also boost employees’ feeling of worth within the company. Using this kind of recognition socially and allow coworkers to see each-other’s successes and want their own in return. These types of rewards do not need to be expensive; a couple extra hours of time off or a free lunch can be enough increase employee happiness and willingness to work.
Communication and employee engagement
Create an environment that promotes open communication and allows for employee to have input on business operations. Let them know that you care about their job satisfaction and value the role they play within the business. Having informal conversations over coffee may help an employee feel comfortable approaching you in the future with any concerns they may have. If an employee is not comfortable addressing issues they are having with management, they may leave the position without trying to fix the problem.
Communication among coworkers can also aid in employee retention. Networking with co-workers can increase employee inclusion and morale. Provide staff with opportunities during the work week for conversation. A company sponsored lunch or breakfast allows staff to take a break from work and speak to each other in a low-pressure atmosphere.
Flexible work arrangements
Providing a flexible schedule or allowing an employee to work from home occasionally can go a long way in employee retention. The work-life balance is something many people struggle with and not many companies are offering flexibility to their workers. Furthermore, lack of a good work-life balance can lead to burnout and unhappiness.
As an employer you need to be understanding that sometimes outside life will need attention during work hours. There may also be situations where an employee is needed to work long hours outside of their regular schedule. This can be an added stress to the delicate work-life balance. You may offer additional time off or increase flexibility in the future. This helps to show employees that they are valued for their efforts.
At Labor Temps, we support all of the employee engagement and retention efforts of our clients. If your company is currently looking for a staffing partner, please contact us today.