How to retain my employees? This question can make us think for a while!
Employee retention is one of the biggest problems that businesses are facing these days.
As it has been observed that over 40% of the people leave their jobs even before completing a year.
This is happening due to several problems and these problems are creating more trouble for the businesses. It takes a lot of time and resources for a business to hire, train an employee, and if the employee leaves the business all the investment of time and money on that employee is lost and the business will have to again hire someone else.
The only way to improve the employee retention rate is to solve the issues or problems that employees are facing and because of that they are leaving. Below I have listed a few tips that can help you improve your employee retention.
Competitive salary and benefits:
If you are not offering your workers or employees, the equal salaries, and benefits that other companies are providing then there are higher chances of losing your talent.
To address this issue, it is better to provide employees with competitive benefits.
Hire the right person:
Check the records of the person you are hiring, if the person has a history of quickly leaving the jobs for no reason, it is better not to hire him and hire a person who is committed for long term cooperation.
This will improve your employee retention rate because you will only hire people who are willing to work for you for the long term.
Do not overload the employees:
Do not overload your employees with workloads. They are humans, not robots. Give them the time to relax. If your workplace loads people with work, there are higher chances that the employee will leave to a better place.
This will decrease your employee retention rate. So, try not to overload the employees for a better retention rate.
Hire leaders, Not the bosses:
There is a difference between the leader and the boss if you hired a manager that has a bossy attitude, there are higher chances of your employees not liking him.
But if you hired a leader, that understands the employees and works for their benefits and helps them out. There are chances of a better employee retention rate.
Keep an eye on your managers:
Most of the time people leave the job because their manager was unfair to them. This happens very often in every office. Some managers like to torture people and they cause a lot of people to leave their jobs.
To avoid this issue, you need to keep an eye on your managers. Do not let anyone cross their limits or torture someone.
Make employee engagement possible:
If you are not hearing what the employees want to say or to tell you something, or you have created a wall between you and your employees there are chances that they will leave their positions.
To improve this situation, you can have sessions with the employees where you can listen to their suggestions and talk to them.