Hiring and training new employees costs you time and money. The longer you can keep your top employees employed at your workplace, the less often you’ll have to face the high price of hiring. Learn how you can retain employees longer with these guidelines.
Hire workers with the right skills and culture fit, who are willing to collaborate on projects. Ensure positive lines of communication remain open among managers and staff members. Promote a culture of trust among colleagues for higher performance levels. Ensure you provide appropriate technology such as Web-based programs, file sharing, and video conferencing to encourage collaborative work. Team members can contribute ideas from different experiences and perspectives, brainstorm methods to solve problems, promote a sense of purpose within the company, and see the value in meaningfully working with others. Co-workers gain access to others’ skills and strengths, share ideas with the person best suited to present ideas and solutions to executives, and help your company move forward. Employees learn how others think, negotiate, and operate, which helps them pick up new skills and knowledge to enhance their own work performance and contribute to your company. Colleagues with unique expertise working together helps solve problems and innovate at a faster pace. Work becomes distributed more evenly and important projects completed more efficiently. Your employees will feel pride in themselves, their team mates, and your company, causing your workers to stay with your business longer.
Provide as much career navigation, mentoring, and growth opportunities as possible. Ask employees what motivates them and provide related coaching, training programs, educational opportunities, and cross-training for different departments. Ask for feedback on their experiences to better provide for their needs. Provide more challenging job assignments and promotions when appropriate. Note workers’ progress through annual reviews to recognize and reward their efforts. Workers who are challenged and engaged in their work will remain with your company for longer periods of time.
Recognize employees’ contributions through appropriate compensation. Ask workers how they wish to be monetarily recognized, and do what you can to oblige. Many would like paid health insurance or retirement plans with employer contributions. Others focus on promotions or performance-based bonuses. Some might like to work remotely once a week or have paid time off each month to volunteer for their favorite charity. Compensating your workers as much as possible will encourage company loyalty and increase retention.