It’s every manager’s nightmare that one of your best employees walks out of the blue: You’re presented with several challenges to tackle on top of your daily responsibilities. That’s why every company should give priority to employee retention and employee job satisfaction; and one of the most important jobs of the Management team in a company should creating effective retention strategies that decrease turnover.
We have taken a look at SIX key strategies that can help companies improve employee retention and boost employee satisfaction:
- Work-life Balance: What message are organisations sending to employees if they are expected to work for long hours and be at the company’s beck and call? A healthy work-life balance is essential. Many companies offer telecommuting or flexible schedules to improve work-life balance for their employees.
- Communication and Feedback: It is essential to keep an open, two-way communication channel with employees. The organisation’s communication style should make employees feel that it is okay for them to come to management with ideas or concerns; and in return they expect that the management will provide feedback and is open to their recommendations.
- On-boarding and Orientation: Every new hire should be set up for success from the very start. By developing an on-boarding process, new employees do not only learn the job, but they also become familiar with the organisation’s culture and the contribution and dedication that is put into the company.
- Mentoring Approach: Adopt a mentoring approach with all employees, new and veteran ones. Mentoring opens up the road to continuous learning and development, and when mentoring is done across departments, it tends to be more effective.
- Nurture Teamwork: When a group of people work together, they can achieve more together than working individually. Organisations can do this by simply clarifying team objectives, business goals and roles, and encourage employees to contribute ideas and solutions.
- Training and Development: In any industry, smart companies would want to invest in their employees’ future and seek opportunities to help them grow. The company can ask employees what are their short or long term goals in order to better assist them in their career path and career growth.
Implementing effective Employee Retention strategies can help boost the company’s image both internally but also externally; guaranteeing your company’s success. Ready to talk? Get in touch.
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